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The mining industry is generally regarded as a high risk industry, mainly because of the difficulties in estimating the tonnage and grade of mineral resources, the fluctuations in metal prices, mining problems and other problems which occur with mining in offshore and remote locations, such as appropriation or disruption to supply. As a consequence, finance providers require a high reward from mining projects. In the past two decades, the development of "mega" projects has led to the packaging of the finance becoming more sophisticated. Some would see this move as a measure of the evolution of banking rather than an intrinsic facet of mining finance itself. Project financial managers now require a thorough knowledge of all the financial tools which are available and have to be aware of the funding options so that they can put together a finance package which minimises the cost of the financing with the risk spread adequately between the partners of the financing. The different sources and types of finance for mining projects are described herein along with the factors which determine their costs. To understand the ramifications of financing mining projects, it is essential to appreciate the fundamental difference between debt and equity, which illustrates the importance of gearing. Costs of finance are determined by the interaction of supply and demand forces. Bankers and other financiers have become more adept at isolating a wide selection of risk elements and have devised a formidable range of insurance mechanisms. There is still a lot of money looking for good project risks and if a good project is properly presented and structured, financing can be obtained in today's market.

Jan 1, 1990

By Kerry Spickelmier

The only nickel smelter and the only active nickel mine in the United States is Glenbrook Nickel Co., a joint venture (50% each) of Cominco Resources International Ltd. and Cominco Ltd. In 1989, with the nickel price riding high between $2.30 and $2.70/kg ($5 and $6/lb), Glenbrook seized the opportunity to purchase and recommission a southwestern Oregon ferronickel smelter and the adjacent nickel-ore mine. This Douglas County site is only about 97 km (60 miles) due east of the Pacific Ocean, and California's border lies a similar distance to the south. Hanna Mining Co. had closed the operation in 1987. And the following year, the equipment had been largely stripped for salvage value. From November 1990 through August 1992, the mine supplied an average 5 kt/d (5500 wet stpd) of ore. Currently, with import ore supplying 40% of the smelter feed, the mine's daily tonnage averages 4.2 kt (4600 wet st). From November 1990 through August 1993, the mine has delivered 2.1 Mt (2.3 million st) of ore grading 1.22% nickel with an average moisture content of 26%. Buffaloed nickel? A nickel is not worth what it was in 1989 and neither is ferronickel, with recent prices hovering around $1.13/kg ($2.50/lb). To survive, Glenbrook has focused on increasing smelter production to lower its operating costs. And this strategy has triggered several bold moves: • a new, $30 million, port facility and • a 10-year importation contract for ore from New Caledonia, an island approximately 1000 km (625 miles) east of Australia. For a Glenbrook update, a May 25, 1993 visit was made to the company's Oregon operations - the mine and smelter near Riddle plus its new Coos Bay port facility. Unfortunately, as the rain came down that day, so did news of another temporary shutdown. The previous suspension had lasted from Dec. 20, 1992 until Feb. 22, 1993. Barely three months back to work on a wet May afternoon, more than 250 of Glenbrook's approximately 300 employees contemplated yet another shutdown, effective July 31, 1993.

Jan 1, 1993

By Steve Kral

The mining industry has had three difficult years. Commodity prices have remained low and investor confidence in the industry has been shaken. And even though the Asian economy appears to be improving, it will be some time before this improvement will translate into better commodity price conditions for mining. In addition, increased environmental and social restrictions that have been placed on the industry in developed and developing countries have made mining a more difficult proposition. And, if that is not enough, the global mining industry has found itself in fierce competition with Internet businesses for investor capital. Despite that gloomy picture, more than 10,500 mining industry professionals from about 70 countries gathered in Toronto, Ontario March 5-10, 2000 for the Mining Millennium 2000 conference. This meeting was a joint effort between the Canadian Institute of Mining, Metallurgy and Petroleum(CIM) and the Prospectors and Developers Association of Canada (PDAC).The joint meeting also featured two trade exhibitions and more than 150speakers. PDAC’s trade show attracted about 400 exhibitors and an additional 200 in the concurrent Investors’ Exchange. CIM’s exhibition attracted about 600 equipment and service companies.

Jan 1, 2000

[COUNCIL FOR 1991/92 President R.D. Beck President Elect JP. Hoffman Vice Presidents Senior Junior Dr H. Scott-Russell J.A. Cruise Immediate Past President Honorary Treasurer H.G. Mosenthal J.A. Cruise Members of Council Dr N.A. Barcza G.A. Brown B.R. Broekman Prof. RJ. Dippenaar B.R. Fleetwood* J.S. Freer P.R. Janisch P.J. Knottenbelt Dr J. Lurie R.P. Mohring *Co-opted K.C. Owen P.D.K. Robinson D.A.J. Ross-Watt P. Smith K.A. van Gessel DJ. van Niekerk P. van Schaardenburgh* CJ.C.J. van Vuuren* P.M.T. White]

Jan 1, 1992

By G. Chahal, L. C. So, S. Faucher, S. Mostaghel, S. -Y. Oh, S. K. Lee

Slag dumping and water granulation are the most commonly used slag treatment methods in the metallurgical industries. In both processes, water is present (by desire for cooling and dispersion or as a result of rain accumulation) and thus equipment and operations are designed to minimize and mitigate the risk of steam explosions resulting from the inappropriate contact of slag with water. Slag handling practices have, therefore, never been inherently safe; even good design, operation, and maintenance are not sufficient to prevent explosions or other related injuries from occurring. For slag handling to become inherently safe, our industry must eliminate the potential contact of water with molten slag. This is today feasible with the advent of dry granulation technologies, a review of which is presented, and it thus falls to us, in the metallurgical sector, to lead the way in their final stages of development and adoption. Furthermore, while slag dumping and water granulation offer some metallurgists the means of valorizing their slag as a by-product, for most, this is not the case. The energy in slag is lost through dumping and water granulation processes, and where slag is sold as a by-product, it is for its chemical content only. Here, dry granulation processes also offer advantages including the production of by-products which hold value in both their chemical content and physical properties and heat recovery. Dry granulation, therefore, augments the methods by which slag may be valorized over traditional processing methods.

Jan 1, 2015

By McHenry Mosier

The Bureau of Mines, United States Department of the Interior, has established a testing adit on the Government reservation at Mount Weather, Virginia, to facility to research on the fundamental tats of mining under actual metal-mining conditions. A number of sites in several Eastern States were investigated, out Mount Weather was selected because the rock seemed best suited for rock drilling and other mining tests and because the ground was already owned by the Federal Government, the site having been acquired in 1902 for use of the Weather Bureau. The testing edit has an advantage over en active metal mine for certain investigations because variable conditions affecting any particular research problem can be controlled and maintained in a fixed status, whereas in an operating mine this seldom is feasible. Operations were begin September 1935, with a crew of four laborers under a resident engineer. The laborers were recruited from, nearby farms, and. although they had no previous mining experience, they have developed into satisfactory miners.

Jan 1, 1939

By Misra V. N

Davis tube tests were conducted on a Koolanooka magnetite iron ore sample, supplied by Kingstream Steel Ltd, to determine the optimum grind size, maximum iron recovery and the cleanness of the products from low intensity magnetic separation (LIMS). The ore sample contained 38.6 per cent iron, 37.8 per cent silica, 6.5 per cent magnesia and 0.54 per cent alumina. XRD and microscopic examination showed that the main minerals in the ore were amphibole (42 per cent), magnetite (39 per cent), and quartz (14 per cent). Amphibole, (Mg, Ca, Fe),Si8O22.2(OH), containing 50.3 per cent SiO2, 35 per cent FeO and 11.5 per cent MgO is the main gangue mineral in the ore, and about 30 per cent of the total iron in the ore is contained in the amphibole. Heavy liquid separation tests showed that it is very difficult to separate iron from silica by gravity separation to obtain a high quality iron concentrate. Three grind sizes were initially tested, ie 45, 38 and 20 ¦m. It was found that grinding to 100 per cent -38 ¦m (P80 of 29 ¦m) appeared to be the best option for liberating the magnetite from gangue minerals. The iron recovery to the LIMS magnetic product for the 100 per cent -38 ¦m sample reached 73 per cent and the iron content was 65 per cent. Further test work suggested that the optimum grind size was a Psu of 25 ¦m.

Jan 1, 1999

By S. C. Tadolini

Roof support systems have evolved from standing posts and timbers to a generation termed ?big nails? where steel bars are inserted into boreholes and anchored with expansion shells and/or resin cartridges. These systems have been effective but are limited to mining height. Additionally, the properties of steel do not resists shear forces or have the flexibility being required in difficult ground conditions. The next generation of roof support systems is coupling the best parts of the ?big nail? and resin grouted cable bolt systems. This paper will present the advanced technical solutions of the next generation of cable systems that includes an indented high-capacity PC-strand used with a variety of fixtures. Case histories of support applications will be presented.

Jan 1, 2012

By L. D. Keller

The application of hydraulic concentration to large scale operations has been effectively accomplished by the use of the SiphonSizer. Operation has been simple, automatic and essentially trouble free. The use of the primary desliming SiphonSizer on magnetic taconites has shown an improvement in grade of concentrate and an increase in recovery over conventional hydroseparators. Magnetic concentrates have been further deslimed and upgraded in SiphonSizers by floating a coarse middling product away from the heavier concentrate. The application of the Siphon-sizer to closed circuit grinding has met with only partial success to date. Hydraulic concentration of minerals has been practiced for a good many years. Until recently, however, the practice has been limited to equipment using a multiplicity of small pockets and relatively low tonnages and flows. The adaptation of the SiphonSizer to the concentration and classification of magnetite has changed this concept. Some fifty commercial units varying in size from a 16-ft diam circular unit to a 25x100-ft rectangular unit are currently in operation on magnetic taconites. Additional units up to 38 ft diam are under construction. Depending upon the application in the flowsheet, upgrading varies from 0.75% to 14% Fe in a single stage. To those not familiar with taconite processing, the importance of the struggle to remove economically as much silica as possible may not be fully appreciated. Perhaps some figures pertaining to transportation costs will underscore this important process. If the silica content of the concentrate from a 10,000,000 ton per year plant could be reduced by I%, a savings in boat freight, at $2.00 per ton, would amount to $200,000 annually! THE SlPHONSlZER The SiphonSizer, as illustrated in Figs. lA, 1B and 2, is a hydraulic classifier in which the hydraulic water is distributed uniformly across the bottom of the vessel by means of a system of headers (1 and 2), jet pipes (3), and nozzles (4). The depth of the teeter bed is automatically maintained by the siphon-float assembly. The feed is introduced through a feed well (5) and separated into two fractions by the effects of rising water and the density of the teetered bed. The magnetite fraction is discharged by the siphon (12) while the fine slime and light middling overflow a peripheral weir (9) to the overflow launder (6). The bed depth is controlled automatically by float valves (7), which are responsive to changes in the height of clear water supported in the superelevation tubes (8) by the density of the teetered bed. On top of the float (7) is a needle valve (10) which permits

Jan 1, 1963

By M. A. Trevits, G. L. Finfinger

Various methods have been developed through US Bureau of Mines research to remove gas in advance of, during, and subsequent to mining. These include drilling horizontal or cross-measure boreholes from a mine opening, and vertical boreholes stimulated for drainage in advance of mining or for gob gas drainage. Techniques and equipment now exist that allow drilling a borehole at any angle to the vertical, and even along an arc. Stimulation treatments have also been developed that provide for increased gas production capability. This paper describes the long-term production history of five select gas drainage installations. The Bureau of Mines conducted or participated in four studies. The remaining study was conducted by the Equitable Gas Co. Principles of storage, release, and migration of coal bed gases The amount of gas contained within any given area of a coalbed depends on the coal's inherent storage capacity and the physical conditions of the coalbed. The gas storage capacity of coal is primarily a function of rank. As such, it cannot be affected by the presence of drainage holes (Kim, 1977). Certain physical conditions of the coalbed can, however, be changed that will affect the release and migration of gas. By pumping water out of the coalbed through the vertical boreholes, two important changes occur - pressure is reduced and water saturation is lowered. Reducing reservoir pressure releases gas as the coalbed adjusts and equilibrates gas to the change. Increasingly large amounts of gas are released for each incremental decrease in pressure. Lowering the water saturation level raises the permeability of the coalbed to gas and allows the gas to more readily migrate to the wellbore (Kisse and Edwards, 1975). For horizontal boreholes completed near mine openings, the coalbed has already undergone a pressure or water saturation reduction phase. This condition thus allows such boreholes to be highly productive with minimal water production. Case studies of coalbed gas production Pittsburgh Coalbed - Marianna mine 58 A methane drainage study was begun in July 1978 at Bethlehem Mines Corp.'s Marianna mine 58, Marianna, PA (Fig. 1). The work was conducted in a section of the mine that was advanced 1.5 km

Jan 8, 1986

By José Raphael Olegário França

Os vergalhões CA50 bitolas finas 8,00 mm a 16,00 mm, em rolos produzidos via Stelmor são os produtos de maior demanda da CSN aços longos. Estes produtos sofrem tratamento térmico de resfriamento ao ar forçado via esteira transportadora de espiras, após serem laminados e espiralados. Devido a parâmetros e características do próprio processo o produto final apresentava heterogeneidade nas propriedades mecânicas que era causada por um resfriamento diferenciado das espiras, gerando reprovação na inspeção da qualidade. Através do uso de pirômetros para monitorar a temperatura das espiras e uma otimização do resfriamento com defletores do fluxo de ar ao longo da esteira transportadora, tornou-se possível reduzir a heterogeneidade das propriedades mecânicas, assim como a elaboração de ferramentas que ajudam na parametrização do Stelmor.

Aug 16, 2017

By W R. Honeywell

Two series of laboratory flotation tests were carried out to study the treatment of Faraday ore by two-stage flotation. First the acid-consumers and then the uranium minerals were floated. On ore ground in the Faraday mill grinding circuit, and using Faraday mill water in the flotation step, a recovery in the flotation concentrate of from 91 to 93 percent of the uranium was obtained in 45 to 50 per cent of the weight at a grade of 0.24 per cent U30s. The saving of acid in leaching the uranium-bearing flotation concentrate, as compared to leaching the whole ore, ranged from 30 to 46 per cent. The average over-all extraction resulting from flotation and leaching of the flotation concentrate was 88.1 per cent. The best collector for the acid-consumers was sodium oleate. Acintol F A-1 emulsion was the best collector for the uranium minerals, and, in the uranium flotation step, an acid pH in the slurry was found to be necessary. The reagent costs were estimated to be 22 to 26 cents per ton of ore.

Jan 1, 1963

By Luis Martín Tejada

Para la evaluación de la estabilidad de taludes en minería superficial se utilizan diferentes métodos de modelamiento y planeamiento como el de simulación numérica. En ese sentido, el presente texto describe el método de tensión-deformación, cuyo base se encuentra en el método numérico de elementos finitos, y así localizar la probable superficie de ruptura. También se describe los mecanismos de ruptura en taludes altos, el cálculo del FS y algunas características del programa de elementos finitos PLAXIS.

Sep 9, 2007

By M Armstrong, S J. Coward, A Galli

Mine management is often expected to make rapid evaluation decisions at different stages of projects based on limited and uncertain data. The challenge is exacerbated by having to distil technical complexity into a financial model that is usually designed to produce only one or two key indicators, eg net present value (NPV), internal rate of return (IRR). Mining is a complex environment with many sources of uncertainty ranging from sampling to economics. In order to optimise investment decision-making, an appropriately structured evaluation framework must be utilised. An evaluation framework should be designed to encapsulate and integrate the complexity across the evaluation cycle, ie sampling, resource estimation, mine planning and treatment, and financial and economic modelling. This complexity is diverse and ranges from sampling support, scale effects to understanding the impact of variability, uncertainty and flexibility on operational efficiency and economic viability. These complexities, combined with time and capital constraints, usually do not allow all facets of evaluation to be integrated into the model. The model must strike a balance between simplified estimation techniques and sufficient incorporation of aspects of the project that will make a material difference to the investment decision. This paper demonstrates the impact of the scale of measurement on the valuation of a mineral project. Comparisons are made between global estimation averages using a top-down approach and local estimates using a bottom-up approach. Three sampling campaigns were conducted on a virtual orebody to compare the relative NPV accuracies. Stochastic forward models were run on foreign exchange rates and are compared with the results from a fixed foreign exchange rate model.

Jan 1, 2006

In 1992, the United States economy grew at a rate of 2%. The Gross Domestic Product rose to $5,946 billion. With 257 million people - 635,000 in mining including petroleum - the United States has more than 100 million dwelling units and more than 190 million licensed motor vehicles. New private housing starts rose I 1 % to 1.2 million units. New car production rose 4% to 5.7 million units. Truck and bus production rose 20% to 4 million units. The rate of inflation was 3.5% and the prime rate of interest was 6.25%. The Producer Price Index (1982 =100) was relatively unchanged from 1991 as follows: fuels and related products and power 80, metals and metal products 119, chemicals and allied products 126 and nonmetallic mineral products 117. Energy Imports of crude and refined petroleum, costing $50 billion, rose 3% to 455 Mm3 (2.9 billion bbl). Domestic petroleum production fell 1 % to 582 Mm3 (3.5 billion bbl). Petroleum supplied about 41 % of US energy, natural gas 24% and coal 23%. Coal production, 60% from surface operations, rose 1 % to 914 Mt (1 billion st). About 78% was used to generate electricity and 3% was coked. Exports valued at $4 billion included 57 Mt (63 million st) of metallurgical coal and 39 Mt (43 million st) of steam coal. Ura¬nium mining, including recovery from phosphates, fell 18% to 3 kt (3300 st) U308.

Jan 1, 1993

By T Baumgartl, R Akesseh, M Edraki, B Usher, M Shaygan

With the continuing demand for industrialisation and urbanisation, the rate of mining and processing lower grade ores will also increase, producing large quantities of waste. As extreme weather events associated with global climatic changes are to be expected, the risk from mine tailings management will also increase (Edraki et al., 2014). In sulfide rich tailings, weathering within the critical zone controls the fate and distribution of the contaminants such as copper, zinc, and lead in the environment (Hayes et al., 2014). Tailings evolve geochemically and physically with time as they age under the influence of complex interacting factors. Understanding of the complex interactions between these controlling factors is important for predicting and mitigating the potential risks associated with sulfide tailings such as generation of acid mine drainage (Lindsay et al., 2015). Wetting and drying initiates weathering processes, influencing the hydrological, geochemical and geomechanical properties of the tailings. In semi-arid climates where evaporation exceeds precipitation, salts may precipitate within the pore system as well as on the tailings surface. These salts become the temporal sink of heavy metals until the next episodic rainfall (Nordstrom, 2011, Grover et al., 2016). Therefore, using kinetic and static test to describe the trajectory of these material evolutions without considering the complex interactions could potentially lead to erroneous prediction. In order to understand these relations, the effect of drying and wetting cycles on the hydrological, geochemical and geomechanical properties of ageing tailings was studied to draw conclusions for advanced tailings site rehabilitation and mine closureCITATION:Akesseh, R, Shaygan, M, Usher, B, Edraki, M and Baumgartl, T, 2018. Wetting and drying cycles as a means to determine the effect and consequences of tailings ageing, in Proceedings Life-of-Mine 2018, pp 24–27 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 25, 2018

By Lloyd Robert Nelson

The historical progression in installed electric furnace smelting capacity of some 1650 calcium, chromium, manganese, nickel and silicon ferro-alloys furnaces is reviewed. Key increases in the inherent installed electrical capacity, often achieved through uprating furnaces, are identified. Possible factors facilitating such advances are explored, including: specific process engineering and pyrometallurgical enhancements (e.g., improved control over the consistency, size and chemical form of raw materials, extents of preheating and pre-reduction delivered into the furnace; and patterns of feed distribution); furnace electrical configuration (AC or DC; immersed, submerged-, shielded- or open-arc); form of electrode (graphite, self-baking or composite); furnace configuration (circular or rectangular; closed or open and 1-, 3- or 6- electrodes); better engineering and equipment designs (e.g., high-intensity cooling) and state of furnace electrical and metallurgical control systems. A view is presented on the prevailing state of evolution of the Mega-scale in ferro-alloy smelting and opportunities for still further improvements.

Jan 1, 2014

By Milner A, Brockway D, Hodges S

The combustion of brown coals in Latrobe Valley power stations produces approximately 500 000 tonnes of solid wastes each year. This material, which includes precipitator ash, char and furnace ash, is hydraulically sluiced to large ashing ponds and the supernatant solution is ultimately discharged to the sea. There are significant operational and capital costs associated with the current ashing system. The ash produced from the Latrobe Valley coals is unique and has a wide variety of potential applications including soil conditioning, concrete and cement extenders, fillers in non-metallic materials, components of building products. In addition, with the application of appropriate technology, it is possible to extract char, sodium sulphate, calcium carbonate and magnesium metal (as the chloride) in substantial quantities from the ash. Research has been carried out to explore the prospects of these various options for ash utilisation. The research has focused on detailed characterisation of the ash material and the potential extraction efficiency for various species under various conditions. From this work a conceptual process has been developed and subsequent studies have been directed towards understanding variables and optimising operating regimes for product extraction. Currently, the work is concentrating on the separation of char, the development of high-grade carbon products and the extraction of sodium sulphate.

Jan 1, 1992

By K. L. Whitehead

An examination of 60 mines, 11 illumination hardware manufacturers, and Q mobile face-equipment manufacturers was conducted to determine the state of the art of mine-illumination hardware, define lighting system installation and maintenance problems, and assess personnel acceptance of lighting. Longwall and mobile face-machine illumination were studied. Major problems on room and pillar installations include damage of exposed components, electrical failures, and reduced lamp life, with extreme variability in the degree of these problems. Most longwall systems had low or moderate maintenance requirements, cable damage being the most significant problem. Most mobile face-equipment operators liked their machines' lighting systems, but many complained of glare and other problems. Longwall lighting was unanimously accepted by face personnel, and most complaints were minor. Based on the survey, general installation and maintenance guidelines have been established, addressing hardware design aspects, approaches proved effective to minimize problems, and improper practices noted which are detrimental to effective lighting.

Jan 1, 1981

By L. A. Cornish, S. N. Prins, R. Süss

The work is being done using the Thermo-CalcTM software, and the database is being built up by obtaining good thermodynamic descriptions of all of the possible phases in the system. The database supplied did not cover all of the phases, and these had to be gleaned from literature, or modelled using experimental data. Similarly, not all of the experimental data were known, and where there were gaps or inconsistencies, experiments had to be undertaken. A preliminary version of the database was constructed from assessed thermodynamic data-sets for the binary systems only. The binary descriptions were combined allowing extrapolation into the ternary systems, and experimental phase equilibrium data were compared with calculated results. Very good agreement was obtained for the Pt-Al-Ru and Pt-Cr-Ru systems, which was encouraging and confirmed that the higher-order systems could be calculated from the binary systems with confidence. Since some of the phase models in databases were different, these phases had to be remodelled. However, more work is ongoing for information concerning the ternary phases present in the Al-Cr-Ru, Pt-Al-Ru (two ternary compounds in each) and Pt-Al-Cr (possibly more than three ternary compounds) systems. At later stage of the work, problems with the thermodynamic descriptions of the Cr-Ru and Pt-Cr binary systems were found. A programme of experimental work to overcome these has been devised, and is being undertaken. Keywords: Pt-based alloys, phase diagram calculations.

Jan 1, 2006