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By J. L. Casado-Sánchez

Financial capital is highly volatile and if the investor does not get adequate compensation for the risk faced he may consider withdrawing his capital assets from the company and consequently produce a structural change in any sector of the economy. We study the variation in profitability of assets in terms of the changes that occur in the markets. The choice of models used is justified by the extensive theoretical and empirical use of them throughout the history of financial economics. We have used the capital asset pricing model (CAPM) and the model based on the arbitrage pricing theory (APT) to determine the beta value. These models have been applied to the monthly returns of 27 mining companies listed on the New York Stock Exchange (NYSE) or London Stock Exchange (LSE), using data from the period covered from January 2006 to December 2010. The results of time series and cross sectional regressions for CAPM and APT produce some errors, suggesting that many companies have failed to obtain an adequate cost of capital. Also the results show that higher risk firms tend to have lower profitability. These findings make it unlikely to be maintained over the long term the current status and could drive structural change in the mining sector in the form of mergers.

Aug 1, 2013

By Lee W. T. Weitzel

This paper reviews the Falconbridge- SMRQ?s Raglan project in northern Quebec and the process that was used in developing its current long-term mine plan. Challenges were many and not only limited to the longevity of the project, numerous ore deposits (both underground and open pit), and a 40km property strike length. As a result of its remote northern location other factors such as progressive reclamation, leachable mine waste, water treatment, and waste management were also part of the plan. A combination of modern planning tools were used to formulate the plan including DataMine, Mine 2-4D, AutoMod Simulation, and an Excel based financial spreadsheet to bring the total plan together. The focus of this paper is to show the complexity of modern mine planning and associated economic modeling of mine processes.

May 1, 2002

By John H. Low

Introduction Despite the fact that the .association of magnetite with chrysotile asbestos in the parent producing area of the world, the Thetford Mines - Black Lake area, has been recognized since the ores of that region were first known, magnetic methods were not extensively employed in exploration for asbestos until about the beginning of 1949. Since then, large areas of Ontario, Quebec, and the eastern United States have been prospected both by aeromagnetic and conventional ground magnetic methods. Prior to 1949, a limited amount of magnetic work had been done, notably that of A.H. Miller (1, pp. 184-186), which was carried out in conjunction with the geological survey of the Thetford area by H. C. Cooke (2) in the years of 1930 to 1932. At that time, Miller pointed out that the occurrence of asbestos is associated with very large magnetic 'anomalies' and that, within the Pennington dyke, an area of asbestos- bearing peridotite could be distinguished, by the anomalies, from adjacent areas of non-asbestos ?-bearing peridotite. Since he .also observed large anomalies in what were believed to be ?barren areas, Miller concluded, however, that the magnetometer could hardly be of much or any value in the direct location of asbestos War .and post-war demands on known reserves of asbestos ore, however, stimulated the search for new deposits, and an economical and rapid method of directing speculative drilling was most desirable.

Jan 1, 1951

By M. Mahdi, L. So, A. MacMillan, D. Metcalfe, J. Woloshyn, D. Sauter, N. Uys, JP. Janse van Rensburg

For city smelters, with limited real estate, efficient slag cleaning furnaces followed by water granulation to produce an iron silicate product is the preferred process approach. Water granulation, however, consumes large volumes of water and requires high maintenance due to abrasive slag/water slurries. Air granulation offers an alternative to water granulation, which eliminates water use and has low maintenance requirements. Although full-scale operation has not been implemented for copper slags, full-scale operation for platinum group metal (PGM) converter slag has been implemented. A review of full-scale air granulation performance for PGM converter slag is provided. Based on PGM converter slag granulation performance, parallels to copper slag granulation are drawn and full-scale operation for copper slag is modelled using computational fluid dynamics (CFD). INTRODUCTION Typical slag management practices in the copper industry include dumping, slow air cooling, and water granulation, as shown in Figure 1. Dumping is the most commonly used slag handling method for most metal production plants, but presents challenges including the requirement for a large slag pit, requirement for expensive/high-maintenance “hot” mobile equipment, risks associated with transportation of molten slag, and no value recovery from slag as a sellable by-product or from slag as a source of heat.

Jan 1, 2019

By Andre Vien, D. H. Hendriks, D. Willet, B. C. Flintoff

"For many years the training of mill operators was an informal process which involved senior operators training junior operators on an as-needed basis. Recognizing the needs and benefits of better training some companies, and even some provinces through legislation, have moved to ensure that a formalized training program exists in the plants. These programs tend to focus on basic safety and operations. Much remains to be done. With the more rapid incorporation of new processing and information technologies, and the goal to keep labour costs to a minimum by doing more with less, operator training has become a critical issue. This paper briefly examines the evolution of training programs, provides some measure of their effectiveness, and explores some recent developments which could have a very significant impact on the industry.PreambleOne can draw an analogy between operator training and the mechanical support of production equipment. When we buy a piece of process equipment it is critical that the mechanical installation be done properly to ensure that the device will operate at peak performance on start-up. Once the equipment is running, some form of preventive maintenance is required to ensure continued efficient operation. The operators and the equipment are both elements of the processing system, yet the former do not seem to get the same ""start-up"" or ""operating"" support. Are they not seen as critical to efficient operation? Why is this so? What impact does it have? How can we improve?These are all very logical and important questions, although the answers are not nearly so obvious. In the mineral processing industry, progress in operator training over the past thirty years has been limited and quite variable. To address the perceived need for a more coherent and consistent approach, some provinces have moved to incorporate basic training requirements in their legislation. Some plants have gone a few steps further by building integrated training programs into their operating culture. One conclusion which can be easily reached is that there are no standards, and that the range of training activity is great. In other words, a flotation operator is not a flotation operator is not a flotation operator. Their knowledge and skills are very much a function of training and experience, which are clearly corporate and site specific."

Jan 1, 1994

By W. G. Hatch

Introduction Classified equipment originally installed in 1923 in the Britannia mill consisted of eighteen Model C Dorr Simplex classifiers, each in closed circuit with a pebble-mill. These machines were only three feet wide and of light construction, so that their raking capacities were necessarily limited, the maximum being about 20 tons per hour for each classifier. On conversion from pebble-mills to ball-mills, in 1924, attempts to increase circulating loads with higher rake speeds resulted only in overflowing a coarser product to the flotation cells. The elevator type of classifier was developed locally in 1935 and during that year two units, each having a sand carrying capacity of from 30 to 40 tons per hour, were installed. With such loads, a material increase in the grinding capacities of the ball-mills was noticed, and, after further development work on the elevator classifier, fifteen of the small Dorr classifiers were replaced by units of this type, capable of handling approximately 75 tons of sand per hour, with later alterations increasing this capacity to well over 100 tons per hour. In the meantime, the three remaining ball-mills had been placed in circuit with Dorr FX classifiers, one of which was six feet wide and the others five feet wide. Impartial and exhaustive tests conducted on the Dorr FX versus the elevator classifier showed the average results on these machines at Britannia to be substantially the same. A large amount of testing was carried on to determine the effect of circulating load on the output of the grinding units. This work indicated a rapid increase in the grinding rate as the ball-mill feed increased up to about 60 tons per hour, after which a relatively slow increase took place up to 100 tons per hour. No benefits were derived from higher circulating loads. A 300 to 500 per cent circulating load, depending on the nature of the ore treated, is considered to be within the economical range for the grinding of Britannia ores.

Jan 1, 1946

By A. Vasenev

The quality and durability of asphalted roads strongly depends on the final step in the road construction process; the profiling and compaction of the fresh spread asphalt. During compaction machine operators continuously make decisions on how to proceed with the compaction accounting for project specific aspects as: ambient conditions, road geometry, roller type, asphalt mixture characteristics and behavior of other machines. In discussions over quality improvement in road construction it is often suggested to robotize rollers. To operate such robots would of course require operational strategies and routines. The reality of this moment is that these operational strategies and routines are not documented. To identify the existing best working practices and, ultimately, to proceed with developing automated robotized compactors, the knowledge of machine operators should at first be explored and described in a formalized way. Unfortunately operators have difficulty verbalizing their expertise. Observation of behavior, as machine movement patterns, could be helpful to extract the operational strategies, but such observations are time and labor consuming. To overcome this burden we developed a Virtual Reality (VR) environment. In this VR environment operators perform compaction virtually, and their operational choices are traced and analysed. This paper describes this VR development and explains how it helps in following machine operators and extracting their (tacit) professional knowledge. The road geometry and the working conditions are visually represented; the operators show - rather than explain - how they would proceed with the compaction process in the given conditions. Movements of virtual machines are documented, analysed, visualised and discussed. This VR approach is expected to contribute to learning, to more formal description of operational strategies; stepping stones towards compaction algorithms for roller robotisation.

Aug 1, 2013

By C. J. Sullivan

It is of importance, in prospecting, to distinguish ores of magmatic origin from those derived by the meta-morphism and granitization of source rocks and from those accumulated in certain sedimentary facies. The magmatic ores, which are characterized by their occurrence along fault structures, may be associated with volcanic (including explosive) phenomena. Heat effects are local. The magmatic sequence is well de-fined: kimberlite, with diamond pipes; ijolite, with carbonatites; peridotite, with nickel deposits; norite, with nickel-copper deposits; and diabase-gabbro, with copper-zinc deposits. These deposits are characteristic of Precambrian shields, where a thick sialic crust may rest on basic to ultrabasic magma. The sequence is resumed in the Paleozoic terrains (in a broad sense), with monzonite porphyries and associated copper, copper-gold, and cop-per-lead-zinc deposits.

Jan 1, 1962

By O. Moselhi

Material can be seen as the fuel needed to execute the project from inception to completion. Material installed provides good indicators of progress achieved onsite vis-a-vis project schedule performance. It correlates well with the role of the schedule performance index (SPI) of the earned value method (EVM). Material is recognized to have a significant impact on achieved progress for physical completion of project activities. This paper presents a study on the development of material status index (MSI) in support of the EVM. Unlike the SPI, the newly developed index account for the criticality of project activities. This is carried out considering the total float of each activity, percent float (i.e. the ratio of float to activity duration) and the total float of the path on which the activity is located. MSI, can independently and jointly with SPI provide root causes behind problems encountered during project execution. In turn MSI can reveal material related factors behind the performance detected by joint interpretation of the two indices. MSI serves to provide added value in alerting management to take corrective actions. While SPI and MSI may have different values, they can jointly augment and enrich the captured project status based on EVM. To demonstrate the capabilities of the developed MSI method, it is implemented on a case study. The case encompasses the construction schedule of a hydro power station constructed in northern Quebec. Different scenarios are adapted from the real case to demonstrate a set of practical aspects of the developed index. The results generated from the analysis of the case study illustrate the useful features of MSI beyond those of the traditional SPI on two fronts; causation and the considerations of criticalities of actives.

Aug 1, 2013

By Jef M. van der Zel

The idea of veneering rich yellow gold alloys with a low-melting, high expansion porcelain, has been a driving force for metal-ceramic research in dentistry. Since 1990, with the advent of the Carrara System (1), a low firing temperature veneering ceramic allowed the use of gold alloys with a lower content of platinum and palladium than the traditional gold-platinum ceramic alloys and thus a richer yellow color. The earlier high gold-platinum ceramic alloys contained at least 12 percent platinum group metals to allow for dimensional stability when firing the relatively high melting traditional ceramics. This amount of platinum group metals gave the alloys a greyish tinge which made them unattractively steel colored and difficult to present as ?high gold alloys?. In the 90?s the new generation universal low-melting, high expansion gold alloys gained market share at a steady rate, starting in Germany, and have now for a great part replaced the traditional gold-platinum alloys (Fig. 1). The first alloys contained 75 wt-% gold and up to 9 wt-% platinum or palladium. They provided a metal-ceramic system in which a gold alloy having an aesthetic yellow colour is fired on with a dental porcelain tailored thereto. The tailoring is meant in respect of compatible coefficients of thermal expansion, and compatible melting or softening points of metal and porcelain. The major concerns in the beginning were with thermal stability during firing, the thermal expansion coefficient of the alloy against the porcelain (compatibility) and the yellow color. In a later stage, alloys with gold contents in the range of 50-60 wt-% gold were developed in analogy with the pale yellow gold-reduced alloys that were formerly used for crown & bridge work and the white gold-reduced alloys used for metal veneering where gold was substituted in part by palladium.

Oct 1, 2003

By K. G. Wheeland, K. G. Byberg

The occurrence of a secondary, dust-fuelled explosion following blasting of sulphide ores has been reported in mines in many countries, including canada, the USA, Australia and South Africa. However there has been little effort to document the events and develop effective control technology. Following a detailed investigation of an incident at the Geco Di vision of Noranda Minerals Inc. , the company held a conference of interested parties in October 1986 to review the state-of-the-art and to agree on action. '!his paper outlines the causes and effects of such explosions, the key conference points and conclusions, and subsequent information-exchange and teclmology-developrnent activities.

May 11, 1988

By Phil Keele

"Manalta Coal Ltd. 's Vesta Mine will supply Alberta Power Limited's 740 MW Battle River Generating Station with 1 128 000 tonnes of sub-bituminous ""C"" coal in 1983. Mana/ta Coal Ltd. and Alberta Power Limited are in their seventh year of a 31-year coal supply agreement. With the exception of localized topographic highs where three coal seams are mined, the Vesta Mine is primarily a single-seam mining operation. Vesta's comprehensive programs of mine planning, preventative maintenance, reclamation, and employee relations make it an efficient and a well run operation. Introduction The Vesta Mine, located in east-central Alberta approximately 300 km northeast of Calgary, supplies sub-bituminous ""C"" coal to Alberta Power Limited's 740 MW Battle River Generating Station. The coal reserves and principal stripping equipment are owned by Alberta Power Limited. Manalta Coal Ltd. owns and operates the additional mining equipment and support facilities. Coal production is from a single pit, 3.5 km in length. Both single and multi-seam operations are encountered in the active pit. In 1983, production is anticipated to increase to I 128 000 tonnes from 906 000 tonnes in 1982. The additional tonnage will be achieved by operating 24 hours per day, 5 days per week. The following sections briefly highlight historical, geological and mining/reclamation aspects of the Vesta Mine. Figure I illustrates the location of the Vesta Mine in relation to the cities of Calgary and Edmonton. History Coal mining for domestic use began near the turn of the century in the Vesta Mine area. Initially, small underground room-and-pillar operations were dominant. As equipment technology advanced, surface strip mining replaced the underground methods."

Jan 1, 1985

By Sammy Bansah, Komla Dzigbodi-Adjimah

Abstract-Ghana, a major West African gold-producing country, took a crucial step in 1986 to allow private participation in mining ventures that had hitherto been state controlled and starved of funds. This decision has led to a three-fold rise in gold production with substantial local and foreign capital once again flowing into exploration and mining projects. Though the rise in gold export is due primarily to increased production from large mines such as Ashanti Goldfields Corporation, Billiton Bogosu Gold, Tebrebie Goldfields and Ghana Australia Gold that work primary lode gold deposits on quartz veins and Banket conglomerates, a fair amount of gold comes from placer gold mining from which two new mines have been developed at Kwabeng and Bonte during the current gold boom. Also, placer gold mining is important locally because the lower capital outlay required for its development enables many entrepreneurs to operate small concessions and provide employment for a large pool of unskilled labor. Placer gold exploration and development in Ghana is labor-intensive. Pitting is the most used method although few employ the mechanized ("Banka") drilling. The advantages and disadvantages of the two approaches in the local setting are discussed. The gravel is normally sluiced and the gold recovered by amalgamation. The drawbacks to successful placer gold exploration in Ghana have been attributed to lapses in execution of exploration programs (Dzigbodi- Adjimah and Arhin, 1993; Dzigbodi-Adjimah and Gawu, 1994). However, the failure to recognize and set time frameworks and financial limitations for the various stages of placer gold exploration have spelt the doom of some projects. It is critical that the characteristics of the placer gold deposit be determined by efficient and cost effective means. A planned exploration supported by adequate flow of funds saves costs and leads to success. This article discusses the current Ghanaian situation and presents proposals from case studies for planning and budgeting placer gold exploration programs for use in similar settings.

Jan 1, 1995

By Sammy Bansah, Komla Dzigbodi-Adjimah

Ghana, a major West African gold-producing country, took a crucial step in 1986 to allow private participation in mining ventures that had hitherto been state controlled and starved of funds. This decision has led to a three-fold rise in gold production with substantial local and foreign capital once again flowing into exploration and mining projects. Though the rise in gold export is due primarily to increased production from large mines such as Ashanti Goldfields Corporation, Billiton Bogosu Gold, Tebrebie Goldfields and Ghana Australia Gold that work primary lode gold deposits on quartz veins and Banket conglomerates, a fair amount of gold comes from placer gold mining from which two new mines have been developed at Kwabeng and Bonte during the current gold boom. Also, placer gold mining is important locally because the lower capital outlay required for its development enables many entrepreneurs to operate small concessions and provide employment for a large pool of unskilled labor. Placer gold exploration and development in Ghana is labor-intensive. Pitting is the most used method although few employ the mechanized (“Banka”) drilling. The advantages and disadvantages of the two approaches in the local setting are discussed. The gravel is normally sluiced and the gold recovered by amalgamation. The drawbacks to successful placer gold exploration in Ghana have been attributed to lapses in execution of exploration programs (Dzigbodi-Adjimah and Arhin, 1993; Dzigbodi-Adjimah and Gawu, 1994). However, the failure to recognize and set time frameworks and financial limitations for the various stages of placer gold exploration have spelt the doom of some projects. It is critical that the characteristics of the placer gold deposit be determined by efficient and cost effective means. A planned exploration supported by adequate flow of funds saves costs and leads to success. This article discusses the current Ghanaian situation and presents proposals from case studies for planning and budgeting placer gold exploration pro-grams for use in similar settings.

Jan 1, 1995

By K. Soga

DOWA has long been specialized in the treatment of complex massive sulfide ores from exploration through smelting. Its competitive advantage derived from ore dressing technology to dress and concentrate complex ore to various kinds of metals concentrates. With this technology, the company recovers as many as seventeen different nonferrous metals. Therefore, it is crucial for the environment management and recycling business both to recover valuable elements like gold, silver, copper etc. and to handle hazardous elements in safety. From this view point, the nonferrous metal industry has a potential to play an important role; that is "The Anchor of Recycling" or "The Joint of Recycling Loop". By utilizing these mining, smelting and refining technologies, know-how and facilities, DOWA became a leading waste treatment, soil remediation and metal recycling company in Japan. This knowledge is now being applied in China .

Jan 1, 2007

By Jr. Santos, T. V. Pignaton, R. B. Gomides, W. Phillips, M. P. D. Gomes

Kinross Paracatu started the operation of the new gold processing plant in the end of 2008, being composed by one SAG mill and two ball mills. During the first year of operation the plant had several problems related to stability and throughput capacity, mainly due to low grinding efficiency of the ball mills. In this period many actions were taken to maximize the throughput rate. Among the actions are reducing the size of balls in the mills, increasing the ball charge in the SAG mill, changing cyclone configuration and return of circulating load to SAG mill. With better stability of the circuit, the second stage of improvements has begun with the objective of increasing throughput rate and also reducing operation costs. Among the actions are the optimization of ball charge in the mills and a better operational control of cyclone parts. After two years of operation was obtained a significant increase in plant capacity, but still requires the addition of a third ball mill in order to maximize the use of SAG mill, which has spare capacity.

Jan 1, 2012

"The South African Mineral Resource Committee (SAMREC), a Working Group of the SAMREC/SAMVAL Committee (SSC), under the joint auspices of the Southern African Institute of Mining and Metallurgy (SAIMM) and the Geological Society of South Africa (GSSA) developed the SAMREC Code. The Code sets out minimum standards, recommendations and guidelines for public reporting of exploration results, mineral resources and mineral reserves in South Africa. It is applicable to the reporting of all styles of solid mineralization or economic deposit. However, certain commodities, namely coal and diamonds, have specific additional reporting requirements. The Code does not apply to oil, gas or water."

Jan 1, 2003

By Don McColman

"Tires, although not always the largest single cost item in open-pit mining operations, will place in the top three, along with explosives and fuel. How this high-cost supply is controlled is dependent upon on an efficient tire program. The success of this program is, in turn, dependent upon the people who are directly associated with tires and their use, namely: the mine's tire personnel, the tire sales representatives and a technician for the rubber company. The technician will relay his observations and information received from the mine personnel back to the manufacturer with recommendations to overcome current problems .Haulage truck tire life and costs in a hard rock open-pit mine are governed and controlled by four important factors:I) Field control.2) Operating within manufacturer's guidelines.3) Different tire purchasing methods.4) Scrap piles.Field ControlPerhaps the most influential people involved in this program are those who live with the tire through every hour of its lifespan: the truck driver, the shovel operator, the dozer operator, the grader operator and the shift boss. Of these, the truck driver has the most control, in that he can drive over or around rock s as these situations arise. The loading area, the edge of the haul road and the dump account for most of the tire injuries.This is why shovel, dozer and grader operators must appreciate their influence on haulage tire life. Spillage cleanup must be ongoing and is not being done adequately if any of these operators are idle. The shift boss that drives by a rock on the road without removing it or calling for a cleanup has little recourse with the truck driver who runs over it-he has sanctioned the driver's actions by his own neglect."

Jan 1, 1986

By Maurizio Violo, Arjan Beqiraj, Umberto Masi

"Abstract - Four main podiform occurrences of chromite have been distinguished in the ultramafic Bulqiza massif, Albania; they are associated from the bottom to the top with: i) basal harzburgites (lower tectonite sequence), ii) dunitic lens-bearing harzbugites (middle-upper tectonite sequence), iii) layered chromitite-bearing dunites of transitional zone, and, iiii) the stratigraphically lowermost part of the magmatic section. However, only the occurrences hosted by rocks ii) and iii) are economically important.Chromite compositions similar to those of other podiform chromites are bimodal. Thus, chromites from occurrences ii) and iii) are richer in Cr than chromites from the other two occurrences. Accessory chromite disseminated throughout the massif is richer in Fe than orebody chromite, displaying similar range of the Cr/Cr+Al ratios, with accessory residue chromite matching the characteristic (Cr/Cr+Al >0.6) range of type-III Alpine peridotites. Both orebody and accessory chromites show compositional ranges correlating with host-rock compositions, i.e., the Cr-rich chromites are hosted by the most refractory ultramafic rocks. Therefore, the Cr/Cr+Al and Mg/Fetot (Cr/Fetot) ratios of chromite are useful for exploration of high-grade, metallurgical chromite ore at Bulqiza and in other massifs of similar geodynamic setting."

Jan 1, 2000

By J. A. Brusset

THE Greenhill mine of West Canadian Collieries, Limited, is situated at Blairmore, Alberta, and produces 2,500 tons per day of bituminous coal. On Monday, October 25th, 1943, smoke was discovered by a party of firebosses on their regular weekly inspection of air-ways. Probably the fire had been smouldering for several days but, as it had started on the outcrop at the top of an old raise filled with dirt, only a small quantity of smoke could filter through, and the plume of mist that crowns the fan at that season had prevented the fan-man from noticing it. This raise is only about 200 feet from the fan, and is 70 feet long between the fan-drift and the outcrop. It was impossible to prove the origin of the fire, as it had probably started several days before it was discovered, but it is possible that a careless smoker may have thrown a match into the opening at the outcrop, and that the old, dry timber had caught fire. The airways are in No. 2 seam, a bituminous seam 18 to 25 feet thick surmounted by shales and sandstones. Only 45 feet vertically above it is No. 1 seam, 12 feet thick, overlain by a strong conglomerate. In that vicinity, No. 1 seam had been worked out about ten years ago and the strata between the two seams are undoubtedly fissured. The pitch of both seams is 43 degrees.

Jan 1, 1945