Search Documents

Post--Crunch Financial Management -An Overview A. The Industry and the Capital Markets B. .The SME -De-risking the Current and New Assets Followed by: C. The Lender?s Perspective on Re-financing?Jeff Stufsky, BNPParibas, NYCD D. .The Agency/Export Credit Lender Perspective?Doug Macaulay, EDC, Ottawa E. The Foreign Political Insurance Perspective?Pierre Vieillescazes, Carrick-Bend, Washington, DC ?Four Fundamental Metal Models No Longer Prevail. ?Mining is in new ?waters?: so be prepared (next page). ?Capital markets are uncertain-so be your own financier first ?If tight capital may remain, prepare to triage based on cash-flow production (not oz, lbs, tonnes, etc) ?Know your banker/financier(and it should know mining) ?In the past, it was ?know your borrower? ?The climbing team can fall if one climber carries too much ?Constantly re-assess the risk matrix (and j/v?s), and ?De-risk/diversify both the asset and the capital base

May 1, 2010

By Apoorva Bajaj

Iron ore mines of Steel Authority of India Limited (SAIL) have to comply with strict chemical composition norms laid down for iron ore lumps supplied to its steel plants. This requires a careful planning of the overall ore excavation operation. In general terms, the problem can be stated as: Given the chemical composition of ore for all excavation sites, excavation capacity of each shovel, distance of each excavation site from the crushing plant and the number of dumpers available for transport of the ore, find out the percentage of ore to be excavated from each excavation site such that the production rate is maximized and the chemical composition norm is satisfied to the best possible extent. This paper presents an approach to solve this problem using Branch and Bound method. The specification for r.o.m. quality has been modified by incorporating a new parameter, ?Al2O3 / SiO2? ratio, which has a significant effect on the performance of iron blast furnace.

Oct 1, 2009

By Ajit K. Sinha

"Electromagnetic surveys were conducted over the Yava sandstone-hosted lead deposit in Nova Scotia to evaluate the usefulness of such surveys for detecting and mapping sedimentaryhosted metallic ore deposits. Both transient and multifrequency systems were used for that purpose. The deposit consists of three zones of disseminated galena which also contain minor amounts of pyrite and sphalerite filling the interstices of the sandstone grains. Each zone overlies a basement depression and is separated from the adjacent zone by an intervening basement high. A conductive shale layer underlies the galena-rich sandstone formation at all three zones.Because the concentration of galena (3070 to 4% ) and other sulfides is too low to affect the resistivity of the sandstone formations for detection by ground electromagnetic (EM) methods, the strategy for our survey was to look for areas of basement depressions and the presence of conductive shale in those depressions by EM depth soundings. The presence of the galena-rich sandstone formations could be inferred because of the close association of these two features with the deposits in the Yava area. Both transient and multifrequency EM systems were successful in mapping the basement depressions and detecting conductive shale at the three known mineralized zones. The technique, therefore, seems to offer good prospects for mapping similar stratabound sedimentary-hosted sulfide deposits."

Jan 1, 1993

By A. Siegmund, F. Mucciardi, Z. Yuan, B. Bulnes

With conventional heat pipe science as the starting point, a new heat transfer technology --- termed Thermopump technology, has been developed at McGill University and is now being tested at a number of industrial operations. This technology is of particular importance for transferring energy in high temperature / high heat flux environments where solutions based on current techniques are not available. One important application for this technology is in the metals recycling area wherein this technology has been used to make a waterless, non-consumable, high efficiency Thermopump oxygen lance. The viability and efficiency of this oxygen lance have been demonstrated by preliminary plant trials in a reverb furnace for the recycling of lead-acid batteries at the RSR Corporation. Full-scale commercial trials of the Thermopump (TP) oxygen lance have been carried out at the RSR Corporation. The results from these tests will be presented. In addition, some applications of the Thermopump technology for other metal recycling processes will also be discussed in this paper.

Jan 1, 2004

By R. Ramirez

Atlantic Copper Refinery (Huelva, Spain) has operated the ISA permanent cathode technology since 1995. The current production rates are 260,000 t/y cathodes and 730 t/y anode slimes. These slimes undergo an atmospheric leaching in which their copper content is reduced from an average value of 24 % to 16 %. In June 2005 an optimization study of the leaching conditions was carried out aimed at lowering the copper content in the slimes to less than 8%. At the same time, a new mixer (Outukumpu Technology GLS-mixer) was installed in one of the three leaching reactors. As a result of the improvement of the leaching performance and to prevent the return of tellurium to the tankhouse, a cementation plant was commissioned in July 2005 to ensure a Te content below 50 ppm in the Cu-rich leachate. This paper describes the results of the improvement of the leaching conditions and the operation of the new tellurium removal plant.

Jan 1, 2007

By P. Reyes

The Codelco Chile El Teniente Division Caletones Smelter has an objective to smelt 1,250,000 tonnes per year of copper concentrate. This is a great challenge for the smelter facilities and particularly for the acid plants. The analysis ensuring that there are no obstacles to achieve the production capacity was of great importance. Therefore a series of activities were undertaken as well as studies dedicated to reach the target. This paper presents work focused on a fluid dynamic study, translated in an operation methodology of integrated handling of the smelting and converting gases with the objective to optimize the gas flow and S02 concentration. The optimization should be done employing the current installations, equipment and instrumentation and/or minor modifications. In the first part of the work the condition of the instrumentation involved in the gas handling was checked, improvements determined and the corresponding corrective actions were carried out. The proposed operation method consists of operation of the Cleaning Gas Plant 2 (TC' s gases) and operation of Gas Cleaning Plant 1 (the remaining gas plus the gases from CPS). The implementation of the operation method involves the modification of the valve of the gas into the duct to plant 1 from On to Off to modulate flow. After modification a three days test was carried out. To evaluate the tests, a "Sulphur Capture" indicator was used. During the test the behaviour of the effluent treatment plants was closely examined. No problems or unusual operating conditions were observed. The reduced flow of gas to Gas Cleaning Plant No. 1 permitted the start up of the 2nd test day treating most of the gas received by Gas Cleaning Plant No. 2. The operation was carried out with the limitation not to increase the effluent pond level, which was maintained constant.

Jan 1, 2007

By A. M. Bell

"Hallnor mine is in the township of Whitney, Porcupine district. To date, its production of gold has been second largest in the east Porcupine field. Ore was discovered in the property in 1936 by diamond drilling in overburdened country. This drilling was undertaken by Noranda Mines following the discovery of ore in conglomerate at Pamour 1 mile to the east.Milling commenced at the Hallnor in June 1938, and to the end of 1945 432,000 oz. gold had been produced from 889,000 tons of ore, giving an average recovery of 0.49 oz. a ton.The West mine of Pamour, the Broulan orebody, and the veins on the Hallnor and Bonetal are all parts of a mile long vein system that has been separated into three sections by cross faulting. In consequence, they could well have been described in one paper. In treating them individually the viewpoint obtained from each may lead to conflicting opinions, and any conclusions advanced in this paper on the general structure should be modified by the conclusions advanced in papers on the neighbouring properties.GENERAL GEOLOGYRock FormationsThe Hallnor orebodies occur within 400 feet of the contact between lavas and sediments, and may lie in either lavas or sediments. The lavas near the ore consist of flows of pillowed andesite and one flow of more acid and less sheared and chloritized lava locally named trachyte. These flows strike east-west and dip steeply. At the surface on the east side of the property the volcanics have been intensely altered to a massive carbonate rock having a north-south thickness in excess of 1,000 feet . This carbonate body extends west across the property with a plunge of 45° (Fig. 1)."

Jan 1, 1954

By Knud Sinding

Mining firms are widely criticised for their adverse impacts on the environment. At the same time many firms in the industry devote extensive resources, both financial and managerial, to the reduction or elimination such impacts. Very considerable improvements have been made, although these are sometimes overshadowed by a few high-profile accidents, such as the occasional collapse of a cyanide-containing tailings dam. In parallel, much effort is also directed at projecting a positive environmental image, as witnessed by extensive environmental reporting, both on paper and increasingly through web-platforms. Mining projects today almost invariably involve some form of environmental protection. In industrial countries regulations in this area are extremely stringent, as is enforcement. In less well developed countries, regulation and enforcement may be weaker, but firms are in many cases and for a number of reasons committing themselves to high levels of environmental protection, even if they might get away without doing so. Research in the area of environmental performance of mining firms has so far paid much attention to concepts such as sustainability indicators and the sustainability of individual firms. Given the still raging debates about the appropriate way to determine the degree to which any given firm is sustainable (Welford 1995) as well as the usefulness of what will in the final analysis be a value judgement, anyone on the sidelines of the debate will come back to the fundamental issue, how is knowledge that a particular firm has been judged ?sustainable? going to be made use of. This issue remains unresolved, which may explain the lack of progress in formulating a useful definition of a sustainable firm The question addressed in this paper is not so much about what firms are doing on the ground or in any particular case of environmental protection, but more in the subsequent use of these efforts - and by extension - on the overall direction of corporate environmental strategy. The fundamental problem facing all mining firms is that they cannot easily benefit from unilaterally reducing their environmental impact. The firm can of course avoid liability and keep a variety of stakeholders happy and hence experience lower costs of obtaining the [input] resources they need (in a broad sense, not just minerals), but this represents only part of the opportunities available form pursuing an environmental strategy (Reinhardt 2000). The other part, which may have an enormous potential, involves the concepts of competitor management and product differentiation. The logic of keeping stakeholders happy has been most forcefully argued by Pfeffer and Salanchick (1978) who link the behaviour of firms in all domains to their ability to obtain the resources they need, at a cost that is lower than it would otherwise be (Pfeffer & Salanccik 1978). Several varieties of strategy can be included under this heading, including cost reduction and risk management. The alternative logic is to convince customers that they want to pay more for minerals supplied by mining firm X or directly attributable to mine Y, or by making all mineral users pay more. These two strategies, which may be referred to as product differentiation and competitor management, respectively (Reinhardt 2000) are related to the demand side of mineral supply, whereas cost reduction and risk management are related to the supply side. Mining firms have not pursued the demand side very much, if at all. This is probably due to the extreme difficulty of moving mineral products, bulky and unglamorous as they are, away from their

May 1, 2003

By J. Standen T.

The main purpose of this publication is to present relevant advances in processes and technologies of importance for consideration in the design of new refineries and the modernization of existing refinery facilities. Operation at current densities of between 300 A/m2 and 350 A/m2 is already part of the criteria customarily implemented on recent projects. This is due in part to the development of permanent cathode technology. In recent years, this technology has also been integrated with process control and automatic electrode handling and preparation machines. The combined implementation of these technologies has the advantage of enabling the process to be monitored, thus assuring traceability and allowing greater knowledge of the process to accrue.

Jan 1, 2007

By R. H. Coloquhoun

"INTRODUCTIONDome Mines Limited is located on 3,149 acres in Tisdale, Whitney and Shaw Townships in the City of Timmins in Northern Ontario. The mine and mill facilities are two miles from the town of South Porcupine, now part of greater Timmins.In April of 1909, J.S. Wilson of Massey, Ontario headed a party of prospectors into the Porcupine region. Disembarking from the Temiskaming and Northern Ontario Railway at mileage 222, they established an initial camp on the shore of Frederick House Lake. Following the lake ""break up"" they canoed to their destination, Porcupine Lake, and established a base camp on the west side of the lake by May 23, 1909. At a point approximately two miles from Porcupine Lake the moss on an outcrop was rolled back and gold was discovered.In the spring of 1911, the first mill structure was in the process of being built and consisted of 40 stamp mills, five S'x22' pebble mills and the ancillary equipment for a 300-400 T.P.O. operation. This structure was destroyed along with much of the Porcupine Camp by the famous Porcupine Fire of July 1911. By mid-1912, a steel ""fire proof"" structure was built and utilizing the salvaged mills from the fire, supplemented by the installation of three, 8'x30"" cylindro-conical Hardinge ball mills purchased third hand from Vipond Mines, processed 75,088 tons by year's end.The mill was again levelled by fire in October of 1929, this time caused by an overheated boiler stack. This 11 fire proof"" structure was immediately replaced by a wood structure and again the three Hardinge conical mills and the five 5'x22' pebble mills were restored and utilized. The new mill operated close to its daily capacity of 1500 tons during the last two months of 1930. During the rebuilding phase, the crushing plant was remodelled and a new crusher installed. These plants were protected from fire by a 60,000 gallon water tank and an automatic sprinkler system."

Jan 1, 1984

By G. Gauvin

Life span of aluminum smelting electrolysis cells can reach up to 3000 days. During this period, cathode blocks go under various physical and chemical changes that could result in an increase of electrical resistivity. The increase may be due to carbon migration from the cast iron to the steel bars, gap evolution between the cathode block and the cast iron, cathode cracking, etc. This paper focuses however only on the collector steel bar electrical resistivity evolution. To reveal the main phenomena responsible for the electrical resistivity increase, chemical analysis, metallographic and electrical resistivity tests were conducted on two steels bars picked from two Hall-Héroult cells after autopsies. Cathode voltage drop and temperature were measured using electrically insulated internal probes and thermocouples on 16 samples from each steel bar. Electrical resistivity can reach up to 1.21µO-m for a steel bar aged 2505 days compare to 0.142µO-m for steel AISI 1008 at room temperature.

Jan 1, 2011

By S. E. Malouf, R. Hinse

"The Mineral possibilities of the Chibougamau area were first recognized by Richardson in 1870 and Low in 1885, both of the Geological Survey of Canada. The first record of interest by the Quebec Bureau of Mines is in 1904, when J. Obalski reported on the discovery of copper and asbestos by Peter McKenzie in the previous year. Reports of 1906 and 1907 covered the McKenzie Gold Mine find and other deposits. In 1908 Prof. Dulieux described the quartz vein on Merrill Island and the mineralized zone on the near-by mainland. In 1910 the Chibougamau Railway Commission, though commenting favourably on the possibilities of the area, concluded that a railway was not then warranted.In spite of this, prospecting in the district continued. The main Campbell Chibougamau deposit, the Blake showing on Merrill Island in Dore Lake, was found in 1920, and other discoveries were made soon after. Between 1927 the work of Mawdsley, Retty, and Norman tor the Geological Survey and the Quebec Bureau of Mines stimulated further interest. In 1934 Consolidated Chibougamau Goldfields Ltd., a subsidiary of Consolidated Mining and Smelting Co. of Canada Ltd., acquired the Merrill Island and Cedar Bay holdings of Chibougamau Prospectors Ltd. They embarked on an aggressive campaign, directed essentially at the gold quartz veins at Cedar Bay. Exploration there included a 522-foot shaft, 4,732 feet of drifts and crosscuts, and about 34,000 feet of surface and underground diamond drilling. Thirteen holes were also drilled on the replacement sulphide lens at Merrill Island. Operations were suspended in 1936, as the occurrence was too low grade for development at the existing metal prices and under difficult operating conditions.The completion of the Quebec Bureau of Mines highway from St. Felicien to Chibougamau in 1950 was followed by a project of detailed geological mapping by the Bureau. It also encouraged Campbell Chibou-gamau Mines to acquire the assets of Consolidated Chibougamau Gold-fields and commence a program of surface exploration. Between August 1950 and April 1951, 41,183 feet of diamond drilling was done on the Cedar Bay and Merrill Island holdings. The Blake showing off the west shore of Merrill Island developed at depth into a major orebody. A lease was obtained on adjacent ground from Merrill Island Corporation, and underground work commenced in November 1951. Development at Merrill Island to June 1st, 1955, included a four-compartment shaft to 1,225 feet, with 8 levels at 150-foot intervals, 5,317 feet of raises, 16,709 feet of drifts and crosscuts, 52,514 feet of surface and 96,593 feet of underground diamond drilling."

Jan 1, 1949

By S. Balideh

A good understanding of the behavior of broken rock helps to make more informed decisions regarding slope stability and waste dump issues in mines. The cohesion coefficient of rock has little influence on the strength of broken rock; therefore, a criterion based on friction and cohesion of intact materials does not provide an accurate analysis for the strength of broken rock. This paper illustrates the effective strength of broken rock through a brief literature review about failure of intact rock and rock masses. The complete stress- strain curve and some important points of residual strength of rock are summarized in this paper.

Jun 1, 2012

By Robert B. Parsons

"The Province of Manitoba tabled a Budget on March 11, 1992, which contains some important new initiatives designed to improve the fiscal environment for mining in the province. In addition, the Minister of Energy and Mines has released details of the Mineral Exploration Incentive Program which was originally announced in the 1991 Budget.Introduction""We recognize the important contribution o f mining to the economic activity of our province, including direct and service jobs and export earnings. We are determined to secure its future."" - The Honourable Clayton Manness, Minister of Finance, Province of Manitoba, March 11, 1992.With these words of introduction, Manitoba Finance Minister Clayton Manness announced a number of significant measures aimed at improving the fiscal regime for exploration and mining in Manitoba. At the same time, details of the Manitoba Mineral Exploration Incentive Program (MEIP) were released."

Jan 1, 1992

By H. A. Kishawy, S. Kannan, M. Balazinski

Metal Matrix Composites (MMCs) are new generation engineering materials that possess superior physical and mechanical properties compared to nonreinforced alloys. However, the presence of abrasive ceramic reinforcements in the ductile matrix causes severe tool wear and premature tool failure. Flank wear was found to be the dominant wear mode while the main wear mechanism was abrasion. Analysis of the cutting tools using scanning electron microscopy has shown that both two body and three body abrasion are operational during machining MMCs. A methodology for predicting the tool flank wear progression during bar turning ofMMCs was presented in an earlier paper [1]. In the proposed model, the wear volume due to two body and three body abrasion mechanisms was formulated. Then, the flank wear rate was quantified by considering the tool geometry in 3D turning. The main objective of this paper is to investigate the contribution of two body and three body abrasion towards the tool wear volume during cutting MMCs.

Jan 1, 2006

By G. W. H. Norman

The surficial Archæan rocks of the southern gold belt of western Quebec are constricted near Kewagama lake by granite masses to the north and south. This divides the belt into natural eastern and western parts. This paper deals with the eastern part, extending from Malanie to Haig township. In this section the Keewatin-Timiskaming rocks have a length of about 70 miles and end abruptly against garnetiferous gneisses of the Grenville terrain. In the western half of the section where exploration has been under way since the early twenties, there are sixteen mines that are or have been in operation, and eleven prospective mines. In the eastern half where exploration has been carried on since the early thirties, six prospective gold mines are under development, one· of which, Louvicourt Goldfields, is at the initial production stage. Of the sixteen properties in the western half that are operating or have operated, all, except the Golden Manitou, which is a base metal mine, and the old Green Stabell from which there was a small production of copper, produce gold. Of the eleven prospective mines in the western half nine have gold. New Bidlamaque has gold and copper and one, East Sullivan, has copper-zinc ore. Since production began in 1927 gold, silver, zinc, copper, and lead having a total value of about $10,000,000 have been produced from the mines of the eastern section of the southern gold belt of western Quebec.

Jan 1, 1954

By K. G. Markkola

Since 2005, Compafifa Contractual Minera Candelaria (CCMC) has defined various strategies which aim to optimize the usage of the available energy in each of the SAG grinding circuit modules (SABC-A configuration). For this purpose, the use of larger size balls along with operating with an optimum balls/load ratio has been implemented. Additionally, in the ball mills, the amount of balls in relation to the equipment's usable diameter has been optimized. In the pebble crushing circuit, the percentage of material passing 12 mm (112 in) product has been increased by 15% by: (1) modifying the crusher mantle profile, (2) implementing a strategy for maximizing the power in each crusher, (3) using continuous improvement tools (Lean - Six Sigma), (4) redesigning SAG mills discharge grates, and (5) changing discharge grates in order to control the crusher feed size distribution profile. All these activities have improved plant throughput by 1,000 t/d with no significant capital investment. As part of the energy consumption optimization study, we have considered determining the optimum operational rate of each SAG mill, in relation to the mill liner life and also the improving the control strategy in conventional grinding.

Jan 1, 2007

The North Saskatchewan River flows southwest to northeast through a 22-km-long valley in the City of Edmonton, supplying the drinking water to dozens of downstream communities. During heavy rains, combined sewers occasionally overflow into the river, which has a significant negative impact on the water quality and the sensitive environment. The West Edmonton Sanitary Sewer (WESS) W12, a syphon connecting the Rat Creek Trunk to the Gold Bar Wastewater Treatment Plant across the river, was designed and constructed to take the overflow to the wastewater treatment plant. Due to the complexity of the project, various 3D technologies were applied to facilitate decision-making processes. 3D models were developed for design review and design conflict detection, while 4D models were established to help create a robust construction schedule. Construction sequencing animation was used to convey design intents and demonstrate construction stages to contractors and workers. The combined applications of 3D technologies helped the project team to identify critical issues, and assured effective communication among engineers, management, contractors, and other parties. Therefore, it provided more opportunities for the success of the project.

Aug 1, 2013

By Steve R. McCutcheon, Cees R. Van Staal, John P. Langton, Leslie R. Fyffe

The volcanic-dominated Tetagouche Group in northern New Brunswick contains numerous massive-sulfide deposits and intimately associated metalliferous sediments. The massive sulfides are generally hosted by Llanvirnian-Llandeilian volcaniclastic sedimentary rocks of the Nepisiguit Falls, Patrick Brook, and Boucher Brook formations. These formations are intercalated or closely associated with rhyolitic-dacitic flows and/or domes, and minor continental tholeiites of the Flat Landing Brook Formation. Pyroclastic rocks are relatively scarce in the silicic volcanic complex. Tuffites and epiclastic sandstones, of the Nepisiguit Falls and Patrick Brook formations, respectively, generally occur along the fringes of the silicic volcanic complex. The flows and tuffites are intruded by quartz- and feldspar-phyric rhyolite (porphyry) dykes, sills, and domes. Although the volume of the silicic volcanic complex is large, evidence for a previously proposed collapsed-caldera model is lacking. On the basis of host-rock type and stratigraphic position, the sediment-hosted massive sulfides have been divided into three groups: the Brunswick-, Caribou- and Halfmile Lake-type deposits. Syngenetic feeder pipes and asociated alteration zones are generally not present beneath the Caribou- and the Halfmile Lake-type deposits and, if present at all, are poorly developed underneath the Brunswick-type.

Jan 1, 1992

By Arash Habibi

The FMC Westvaco Trona Mine is located near Green River, Wyoming and has an annual production of 4.5 M tons. The underground mine has three active development panels and one longwall panel. The mining horizon is about 500 m below surface and strata liberate methane. Three surface-based blowing fans provide ventilation air. A ventilation survey and subsequent analysis was undertaken and a simulation model developed. Air heating during winter is essential to prevent freezing of pipelines and to lesser degree, for miner comfort. Air at all three intake shafts is heated using gas-fired heat exchangers. A strata heat study was conducted in one of the active panels to determine rock attributes. Tests included in-situ measurements of rock thermal conductivity and geothermal gradient. Continuously methane monitors have also been installed in an active development panel?s return drift. Ventsim ventilation software was used to aid the heat and contaminant simulation study. An exercise was also undertaken to gain some understanding of methane contaminant levels throughout the mine. It was further used to determine an adequate surface intake air heating rate and consequently the minimum natural gas consumption needed for winter intake air heating at the mine.

Aug 1, 2013