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By Derek du Preez, Andrew Hall, Timothy M. Pelech

Net Present Value (NPV) derived from Discounted Cash Flow (DCF) analysis remains the dominant metric for evaluating mining projects despite its well-documented inability to capture managerial flexibility under uncertainty. DCF assumes that all risks are perfectly priced by financial markets. This is an unlikely assumption for volatile commodity prices, geological variability, or the array of mining technical and operational risks present on all mine sites. Real Options Analysis (ROA) was developed to remedy this limitation by explicitly valuing the ability of managers to defer, expand, scale, switch, or abandon investments as new information emerges, and to capture upside and mitigate downside risks. While ROA is philosophically correct and routinely shows an uplift in project value compared with DCF, its practical application at industrial scale is severely constrained, ROA faces the reality of a combinatorial explosion in complexity of decision trees, Monte Carlo simulations and other models required when multiple interdependent or sequential options exist across numerous mining zones and time periods. The AMC Hill of Value® (HoV) process adopts the same intellectual foundation as ROA, that flexibility has economic value, but operationalizes it through a far more robust and scalable architecture. It is built on parametric relationships, rapid scheduling, and multi-objective evolutionary optimisation. HoV can evaluate millions of compound, interdependent real options in a single optimisation run, delivering resilient, adaptive strategies that preserve managerial flexibility while simultaneously optimising NPV, mine life, risk exposure, and other corporate objectives. This paper demonstrates that HoV is the practical, industrial-scale embodiment of real options thinking in mining: it discovers, ranks, and translates the most valuable real options into strategic mine plans, overcoming the scalability barriers that have prevented widespread adoption of classical ROA.

Feb 22, 2026

By William T. Ingram

Early in the 60's the author served as Chairman of the Engineering Foundation's Coordinating Committee on Air Pollution Research. One of our objectives was the development of a study on the measurement of stack emissions. Three publications of the Foundation resulted from these efforts to focus attention on the stack sampling problem.1,2,3 Two of these were annotated bibliographies covering 197 references. The third reported the results of a workshop meeting at which some 21 individuals from research institutes, industry and government discussed the possible and probable areas of research that would add to or increase the ease, precision and utility of sampling gaseous and particulate matter emitted from stacks. The American Society of Mechanical Engineers has had in its Power Test Codes a Standard Code for Determining the Dust Concentration in a Gas stream4 since 1941, The American Industrial Hygiene Association has published, in its Air Pollution Manual,5 a Section on Stack Sampling. Industry and regulatory agency requirements for stack sampling have utilized some modification of the alternatives in methodology. There has been ho single guide to stack sampling that met the needs of those who have the need to know.

Jan 1, 1970

By W. Fletcher

Startup of a new plant is a very interesting time. It generally is also a very demanding and often frustrating period. Startup problems can become serious ii they impede the early achievement of full plant production. Raw materials are wasted, manpower is unproductive, field modifications can be extremely expensive and market commitments may not be met. This paper outlines a well proven and highly successful approach to eliminating many of the problems and frustrations often experienced in plant startup. The procedures and methods summarized in the following paragraphs have been developed over a period of 25 years during which some 90 plants were started up.

Jan 1, 1981

By Hojong Kim, Isehaq Al-Nafai, Kwadwo Osseo-Asare

The standard Gibbs free energy of formation (ΔGo f, 298) of bastnasite, (Ce, La, Nd, Pr)FCO3, was estimated using four different methods. The obtained average values were − 1589.5 kJ/mol for CeFCO3, − 1599.5 kJ/mol for LaFCO3, − 1589.1 kJ/mol for NdFCO3, and − 1595.4 kJ/mol for PrFCO3. The value for cerium bastnasite, CeFCO3, was used to construct a potential vs. pH (Eh-pH) diagram to investigate the stability relations of cerium bastnasite. The diagram shows that CeFCO3 is stable in neutral to basic conditions (pH ~ 6.5–11).

By Owens S. Roberts

The drive selected for any piece of machinery must adequately satisfy the application requirements both during the starting interval and at running conditions, All loading possibilities of the drive must be known and allowances made for any adverse limiting conditions such as extreme cold, or perhaps an intermittent excessive loading situation etc. In general, the drive must be selected to provide the required operating characteristics with maximum reliability and at minimum cost. Simplicity of overall design is always an advantage and care must be exercised to insure that systems incorporating unnecessary complicated parts are not indiscriminantly provided. Important non-technical considerations such as equipment avail-ability (on an overseas project) as well as standardization details also play a role in the drive selection process. Additionally, an assessment of the potential capabilities of the personnel that will have to maintain the equipment can have some influence on the final choice. Several types of prime movers are available but this article will restrict itself to the use of induction motors operating from an available alternating current power source. Many drive arrangements are possible, the most common being the direct coupled single motor arrangement. It is sometimes desirable to use more than one motor per machine, but these designs are usually more

Jan 1, 1971

By R. Y. K. Yang, O. Olajide, E. H. Cho

"This study focuses on partial leaching of coal pyrite with sodium sulfite in order to increase its degree of liberation from the coal matrix, which might help to increase the removal of coal pyrite, together with trace elements of arsenic (As), selenium (Se) and mercury (Hg) by froth flotation. The U.S. Bureau of Mines’ two-stage reverse flotation process was applied to further reject coal pyrite in the second stage, where pyrite was floated while coal was depressed. The results show that the leached coal flotation with sodium sulfite produced lower pyritic sulfur content in the clean coal by approximately 25% compared to the flotation of unleached coal. The synergism mechanism between the leaching and the two-stage flotation is delineated. The rejection of trace elements (As, Hg and Se) after the two-stage flotation process with unleached coal followed approximately that of pyritic sulfur (64.6%). However, after the two-stage flotation with leached coal, the rejection of Se was as high as that of pyritic sulfur (77.9%), while the rejections of As and Hg were 20% lower than that of pyritic sulfur, or followed approximately the same rejections obtained through the two-stage flotation with unleached coal.IntroductionSO2 is a reducing reagent, but when it is combined with oxygen in an acidic solution, it will become a strong oxidizing reagent for leaching coal pyrite. Sundaram et al. (2001) found that the reagent could leach coal pyrite to produce ferric iron, which, in turn, catalyzed the oxidation of SO2. Similarly, Cho et al. (2009) found that the reagent could leach pyrite as well as mercury from coal. In the present study, coal was preconditioned by partially leaching coal pyrite in water-coal slurry with sodium sulfite at 48° C. The partial leaching of coal pyrite may enhance its degree of liberation from the coal matrix and give a chance to be rejected more effectively during the flotation.The two-stage U.S. Bureau of Mines’ reverse flotation process (Miller, 1975) was used in this study. The first stage is conventional flotation, in which coal is floated while material with higher ash and pyrite content remains in the cell. Kerosene is used as a promoter to float the coal and MIBC (methyl isobutyl carbinol) is used as a frother. In the second stage, the floated coal from the first stage is depressed using a starch-based reagent, while coal pyrite is floated using potassium amyl xanthate. In this second stage, the liberation of coal pyrite from the coal matrix seems to be an important factor for successful rejection of coal pyrite."

Jan 1, 2015

By Hervé Le Bissonnais, Jean-Pierre Janin, Anne Bergère, Pierre Renier

"The most important impact on the environment of a tunnel excavation is the creation of surface settlements. Nowadays, the mechanized tunneling allows minimizing the settlements, applying a confinement pressure which counterbalances the ground de-confinement. It is thus essential to determine the correct amount of confinement pressure. In this paper, the authors present a 3D numerical study simulating the EPB-TBM excavation of a water tunnel, in the Flanders clays (north of France). Firstly, a simplified 3D simulation, based on the concept of instantaneous longitudinal settlement curve, was performed to predict the surface settlements for different values of heading confinement pressures. Secondly, the same pressures were tested by the EPB-TBM in a monitoring zone. The comparison between the prediction settlements and the measurements was very satisfactory and allowed validation of the numerical approach and the choice of the optimal confinement pressure value for a sensitive area of the project. INTRODUCTION The excavation of a tunnel can create displacements of the surrounding soil which may affect existing structures and generate unacceptable dysfunction. The development of the closed shield tunneling has permitted to reduce the volume loss generated around the excavation and consequently the surface settlements. In this case, as explained by different authors (Clough et al., 1985; Kastner et al., 1996; Mair and Taylor, 1997), the ground movements are influenced by the TBM works: the heading confinement pressure, the shield overcutting and conicity, the annular void grout injection parameters, the segment concrete lining rigidity, the consolidation of the grout. Hence, in the tunnel design, it is important to take into consideration these different processes of the excavation works to simulate correctly the tunneling process."

Jan 1, 2016

By J. C. Ashby

Electric utility response to certain amendments of the Clean Air Act has resulted in a production of several types of alkaline coal combustion byproducts. Alkaline combustion byproducts are gaining increasing usage for acid mine drainage mitigation as research leads to a better understanding of their beneficial applications. Since January of 1997, Mettiki Coal Corporation has been injecting alkaline flue gas desulfurization material from Virginia Power's Mt. Storm Unit #3 wet limestone scrubber into abandoned portions of the active Mettiki mine. This paper provides an overview of the key design, transportation, regulatory, and environmental issues faced in the project.

Jan 1, 1998

By Charles A. Stone, Eric C. Wang

"Top-down wall construction was selected to excavate the tunnel portal headwall areas of the ORB East End Crossing tunnel. Benefits included an expedited construction schedule realized by staging excavation and rock support with development of temporary construction access roads. Rock mass properties, proximity to right-of-way lines, and blasting impacts were considered to design suitable lift heights, intermediate bench locations, and permanent ground support systems to provide supported permanent excavations. Carbonate rock formations contained adverse subsurface geotechnical features including solution cavities, clay seams, weathered joints, pinnacled rock, and boulders, which were addressed by flexibility in design. The resulting over-break conditions and long-term water infiltration issues required economic design solutions. This paper discusses the unique considerations required during design of top-down tunnel portal headwalls excavated in carbonate rock formations including temporary excavation and permanent ground support systems which provided flexibility for unforeseen over-break, minimized construction delays, and provided long-term stability. PROJECT BACKGROUND The East End Crossing is an approximate 8-mile highway connection of the Louisville-Southern Indiana Ohio River Bridges East End Crossing (ORBEE) project. Currently under construction, this connection will link State Road 265 in Indiana with the Gene Snyder Freeway in Kentucky to form an outer loop bypassing the Louisville-Southern Indiana metropolitan area. This highway project features a 2,510-foot long, three-span cable-stayed bridge over the Ohio River, and a 1,680-foot long tunnel. The project, being managed by the Indiana Finance Authority and Indiana Department of Transportation, is scheduled to open to traffic by the end of 2016. The new twin three-lane tunnel under the historic Drumanard Estate requires steep cut excavations for approach and tunnel portal walls on the order of 60 feet deep through overburden soil and carbonate bedrock formations. This paper focuses on the design considerations for the permanent support of the top-down wall construction of the tunnel portal headwalls and approach retaining walls."

Jan 1, 2016

By G. S. Dobby

High-intensity wet magnetic separators have been successfully introduced into the mineral processing field over the past ten to fifteen years, due largely to rapid advancements in magnet design. Wet magnetic separation, until recent years, was applied solely to the concentration of minerals of high magnetic susceptibility, such as magnetite, at relatively coarse sizes. Now, however, high-intensity separators are capable of treating weakly paramagnetic minerals and have extended the range of treatable particle size down to about one micrometre(1,2). . One of the more recent-high-intensity separators developed is the Kolm¬Marston Marston type high-gradient magnetic separator (HGMS) (3,4) It consists basically of an iron-clad solenoid surrounding a matrix material - a fine, ferromagnetic steel wool or expanded metal lath. A schematic diagram of the device is shown in Figure 1. Large, highly localized, pertebations of the magnetic field are created by the ferromagnetic matrix. It is these field gradients that are instrumental in developing large magnetic forces which act on the mineral particles. Operation of the separator is simple. Slurried sample is fed through the matrix and, depending upon the mineral parameters of particle size and magnetic susceptibility and. the operating parameters of flow rate, field strength and feed weight, some particles will be attracted to and adhere to the magnetized matrix, while the others will flow through the matrix. The separation is completed by later removing the background magnetic field and flushing the captured mineral particles into a separate container. The process can also be applied on a continuous basis (S).

Jan 1, 1977

By T. S. Lundström, B. D. Marjavaara, I. A. S. Larsson

"The flow field in a rotary kiln, used in an iron ore pelletizing process, was investigated using a three-dimensional computational fluid dynamics model. The model is isothermal, downscaled and simplified. The objective was to examine the possibility of capturing the unsteady motion of the flame seen in the real kiln. The results from the simulations were compared with recorded images of the real process. The results demonstrate the possibility of quickly getting an overview of the flow field in the kiln. The main, unsteady behavior of the flame was captured. The model may be used as a tool in the ongoing work of improving and optimizing the pelletizing process.IntroductionThe pelletizing process, in which the crude iron ore from a mine is upgraded into pellets, is a process involving large amounts of hot air flowing in complex geometries. Flow control is a crucial factor in this process to maintain high pellet quality. The rotary kiln is one of the last steps in the pelletizing process, and this is where the pellets are sintered to increase their strength and metallurgical properties. The kiln burner produces a flame that supplies the entire pelletizing process with the necessary heat.Kiln burner flames are large diffusion flames arising from a jet of fuel from the burner issuing into a concentric confining cylinder with a surrounding coflow of air, called secondary air. To enable combustion, the secondary air needs to be entrained into the fuel jet. This mixing of the fuel and air is the slowest step in the combustion process and therefore affects the efficiency of the combustion. The rate of entrainment depends on the momentum ratio between the burner jet and secondary air. The higher the momentum ratio, the faster the entrainment rate and, consequently, the faster is the fuel/air mixing.The kiln of interest in this study differs from kilns used in other industrial processes in both geometry and operating conditions. A distinguishing feature is the large amount of secondary air being induced through the kiln hood and then transported to earlier stages in the process as air or exhaust gas. The secondary air therefore has a substantial momentum, implying that the resulting flow field has a significant impact on the mixing and combustion process in general and the flame shape and stability as well as combustion efficiency in particular. A systematic study of the factors influencing the dynamics of the flow field in the kiln, neglecting the combustion, is therefore justified."

Jan 1, 2016

By Joern Katzer

It is vitally important to any tunnel project to have an accurate and reliable survey control network inside the tunnel for layouts, as-built surveys, and to provide guidance to the tunnel boring machine (TBM). However, the concepts and methodology to provide such a survey network are sometimes not well understood. For example, the first anticipated survey task that takes place during the bidding process is often ignored, which is to provide a comprehensive survey network preanalysis for the surface network and tunnel traverse based on survey statistics that will be used to make informed decisions on the survey requirements and methodology. Instead, these steps are often only vaguely based on previous results and prior tunneling experience. But each tunnel is different, and a solution that worked for one tunnel project might be unsuitable for another. The purpose of this paper is to provide tunnel project engineers, managers and surveyors with the general concepts for tunnel survey methodologies and examines several statistical tools for a basic horizontal and vertical tunnel survey preanalysis. These survey statistics tools provide useful estimates of the expected lateral and vertical tunnel traverse accuracies, but are not a replacement for a comprehensive tunnel network preanalysis. The proposed formulas do not take centering errors into account, are using average distances for each traverse leg, and assume that the survey data is free of outliers in the measurements. It is very important that the estimated instrument accuracy is based on true values that are reflective of measurement precisions that are actually achievable inside the tunnel to provide accurate results.

Dec 1, 2022

By Clement K. Chase

Since the dam of cyanidation leaching techniques for precious metals, certain manganese-bearing silver ores have been a problem due to low silver extractions. Since simultaneous occurrence of silver and manganese is common in nature, this situation has made many otherwise attractive silver deposits uneconomic in the past. Several older techniques have been useful but at $1.29 per ounce of silver, the economics were unfavorable. With the new look in silver prices and some improvements in processing technology, neglected silver districts offer new promise.

Jan 1, 1981

By R. Venugopal, V. K. Saxena, S. K. Tripathy

"This study was carried out to understand the impact of variation in material morphology on the efficacy of microwave pretreatment. Three different types of mineral matter – coal, iron ore and manganese ore – were treated with microwaves at different energy levels, from 180 to 900 W, for different time durations of one to five minutes. The treated samples were subjected to microscopic, milling and liberation studies. Coal is a porous and amorphous material with low dielectric constant, and grinding of the microwave-pretreated coal samples resulted in an 18.18 percent reduction in the 80 percent of passing particle size, or d80, and a 17.1 percent increase in carbon recovery. The microwave-pretreated soft and friable manganese ore samples showed a 47.82 percent reduction in d80 during grinding and higher manganese recovery of 42.46 percent during liberation analysis. The microwave pretreatment and milling of hard and banded iron ore reduced the d80 by 20.83 percent, but no improvement was observed in mineral liberation. Coal showed better results during treatment at lower energy levels of 180 W for one to three minutes, whereas the minerals needed higher energy of 900 W for five minutes. Particle size analysis indicated rapid size reduction up to an energy input of 25 Wh. This effect diminished with increased energy input.IntroductionComminution is an important unit operation in mineral processing plants for the purposes of size reduction and mineral liberation. But most comminution technologies are energy inefficient and only a small amount of energy is consumed in real size reduction, with the rest wasted. High-grade mineral resources have been exploited on a large scale for the last century, and the upgrading of low-grade resources is now required to fulfill the needs of industry. Pretreatment methodologies for comminution will play a crucial role in the upgrading of low-grade mineral resources. Researchers have studied various pretreatment methods to develop an energy-efficient and techno-economically viable solution to improve mineral liberation and product fineness with minimum energy consumption. Most of these studies were focused on the use of chemical additives, thermal, ultrasonic and microwave treatment, and electric disintegration (Klimpel and Austin, 1982; Norgate and Weller, 1994; Gaete-Garreton, Vargas-Hermandez and Velasquez-Lambert, 2000; Wilson et al., 2006; Kumar et al., 2010; Wang, Shi and Manlapig, 2011; Singh et al., 2012)."

Jan 1, 2017

By P. B. Queneau

An operating problem encountered at the Moa Bay operation in Cuba, where nickeliferous laterite ore is processed by sulfuric acid pressure leaching, is the formation of alunite and hematite deposits on the autoclave walls. The AMPX Extractive Research & Development, Inc., metallurgical laboratory (Golden, Colorado) has made substantial improvements in the Moa Bay process in the areas of metal recovery, energy consumption, and feed versatility. One of the advantages of AMAX's process is its ability to treat substantial portions of nickel- and magnesium-rich serpentine while maintaining acid utilization efficiency. The process minimizes scale formation by combining staged acid addition with vigorous agitation and 270°C operation, but does not eliminate scaling. This paper describes how advantage can be taken of MgSO4?XH20 precipitation both to inhibit alunite scaling and to disperse hematite scale within the MgSO4?XH20 matrix. Cooling the autoclave from its 270°C operating temperature down to 180°C takes advantage of the reverse solubility of magnesium sulfate. The magnesium dissolves, liberating entrained hematite, thus providing a means for control of autoclave scale with minimum process disruption.

Jan 1, 1984

By J. M. King

A crucial step in the acquisition by one company of the assets of another, the acquisition of the stock of another company, or the merger of two com-ponies, is the legal due diligence which needs to be performed in order for the acquirer to ascertain or confirm the obligations, liabilities and exposures to risk that are being assumed along with the assets or corporate stock being acquired. Where the obligations, liabilities, or exposures to risk arise from existing contracts, or from pending lawsuits, administrative proceedings, or threats of these actions, those matters are relatively straightforward to discover by careful review of the files of the party whose assets or stock is being acquired. However, where a company is engaged in ongoing mining or processing operations and has operated or owned mining proper-. ties, there are many sources of liability and exposure to risk which could have major adverse economic consequences to the acquiring party and which are not revealed, or at least are not clearly delineated, by the records of the company whose stock or assets are being acquired.

Jan 1, 1990

By G. L. Mowrey

In addition to developing various types of coal interface detection systems, the U.S. Bureau of Mines is actively involved in developing a coal rib thickness monitoring system for high wall mining applications. One particular system that appears to show promise uses a ground-penetrating radar system to detect the coal-air boundaries of coal ribs. Based on preliminary laboratory and field tests, results indicate that this method can be applied successfully in highwall mines to maintain a constant rib thickness. The coal seam should be relatively clean in the vicinity of the antenna (e.g., have minimal partings or dirt bands) for best results.

Jan 1, 1995

By Ulf Georg Gwildis

Overexcavation and ground loss events during pressurized-face TBMadvance in soft ground can result in unplanned deformations above the tunnel and damage to existing infrastructure. Successfully managing the risk of this occurring is crucial for any project in an urban area to proceed. Common risk management approaches include a combination of establishing suitable ranges of TBM operational parameters and using geotechnical instrumentation for deformation monitoring. Another risk management tool is material flow reconciliation, which varies depending on the specified mining method and the equipment choices by the contractor. This paper compares recent and ongoing projects in the Pacific Northwest regarding overexcavation risk management.

Jun 13, 2023

By Jian Liu

The dissolubility of a natural sphalerite (ZnS) in the entire pH range was theoretically calculated, and its practical dissolution in an aqueous solution at different pH values in an inert environment, together with its surface properties after dissolution, was fully investigated. The results of the investigation indicate that the total concentration of Zn (CZnT) decreases significantly with the increase of pH value, while the pH value is set below 8; however, it reverses when the pH value reaches 8. Such a tendency is similar to that of the theoretical calculations, although the experimental CZnT were much higher than those of the theoretical calculations. The X-ray photoelectron spectroscopy (XPS) of the sphalerite surface after its dissolution under alkaline solution shows that a polysulfide (Sn 2-) surface layer with a binding energy (BE) value of 162.96-163.25 eV is present on the surface, and the percentage of Sn 2- increases significantly with an increase in pH value; the undissolved and dissolved sphalerites under the acidic solution have a negligible difference in S2p peaks. The surface S/Zn ratio of all dissolved sphalerites shows a marked Zn enrichment and S deficiency. An atomic force microscope (AFM) view of the sphalerite surface, after its dissolution under the alkaline solution at a pH of 12, shows that the surface is significantly different in morphology from that of the undissolved one.

May 1, 2012

The past four years since the 2008 MINExpo have been a roller coaster ride for the mining industry, with highs and lows and everything in between. One of the natural consequences of this uncertainty has been a number of significant consolidations and mergers, and this trend has trickled down into the crushing industry. And while there have been some significant changes to this sector of the mining industry, many of the big players have weathered the storm. The following is a look at some of the mineral processing companies that will be at MINExpo. McLanahan Corp. McLanahan Corp. is an example of the changes in the sector. The crushing and grinding stalwart acquired Universal Engineering, expanding its traditional focus on soft mineral crushing to hard rock crushing. At MINExpo, it will be showing off three new pieces of equipment, the LabMill Crusher, the Rocker Tooth Crusher and the Recessed Filter Press.

Jan 1, 2012