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By B. A. Filas, H. N. Lammers

Responsible environmental, social, and governance (ESG) practices are not new to mining. It is the ESG acronym that has become the “flavor-of-the-day” with the stock markets, accounting firms, and investment strategists. This increased interest from the financial sector has heightened executive awareness and accountability to where corporate leadership and directors are proactively prioritizing ESG issues from the top down within their companies. This paper aims to convey what the authors believe one needs to know to be able to conduct and prepare effective ESG audits and reports. The emphasis is on how ESG fits within the mining sector, some of the ways that many mining companies have been practicing ESG responsibility for decades, the importance of effective communications with stakeholders, and the roles that regulatory and international lending institutions play in enhancing ESG practice on a global scale as a precursor to the discussion on ESG auditing and reporting. Without this background, the ESG audit may become a purely academic exercise.

Feb 1, 2023

By Jan Luca Grunow, Ansgar Bendiek, Klaus Böde

According to the Markowitz portfolio theory the value of a diversified portfolio is higher than the sum of the parts of a portfolio, which is an important consideration for the correct valuation. This is valid for real estate portfolios as well as for mining assets (or enterprises). This paper analyses the application of the portfolio theory to a diversified portfolio of assets in the real estate industry and draws conclusions on further research work to be done in the minerals industry. The volume of real estate transactions is increasing over recent years. As such, the nature of those transactions is constantly changing and in some cases portfolios become more heterogeneous as they are composed of different property categories, e.g. locations and types of use. This makes their economic evaluation more difficult. This paper focuses on the acquisition of a fairly heterogeneous real estate property portfolio purchased by “Commerz Real” in Germany in Q4 2019. For economic evaluation the widely used Markowitz portfolio theory (Markowitz, 1952) was applied. It was investigated whether diversification effects could achieve added value in the form of a reduction in risk compared to the sum of their individual components. As a result the findings of this research could be applied to other heterogeneous real estate transactions and even to mine property portfolio or PPP1 project portfolio transactions.

Jun 25, 2023

By Staff

Minerals contribute to U.S. gross domestic product (GDP) at several levels - from mining and processing to the manufacturing of finished products. In 2010, the estimated real GDP of the United States increased by 2.8 percent compared with 2009 and the estimated nominal GDP was about $14.6 trillion (Table 1).Trends in various sectors of the domestic economy are often rejected in mineral production and consumption rates. For instance, continued declines in the construction industry during 2010 were rejected in further reductions in the production and consumption of cement, construction sand and gravel, crushed stone and gypsum, which are used almost exclusively in construction. Performances in other sectors were mixed and less easily characterized. Recovery from the economic decline of 2008-2009 became apparent in 2010, as prices for many mineral commodities continued to rise with increasing demand for those materials or the products in which they are found.

Jan 1, 2011

By Michael Rieber

Mineral economics interfaces the mineral sciences and engineering with finance and economics in the analysis of appropriate questions facing the minerals and energy industries. Its practitioners include those trained in the earth sciences; mining, petroleum, and geological engineering; metallurgy and mineral preparation; as well as finance, information systems, economics, and statistics-most usefully in one or more combinations. Allowing for some overlap, three general areas may be identified: evaluation, economic analysis, and resource appraisal. Evaluation begins with mine investment analysis (exemplified by Gentry and O'Neil, 1984) and process costing, for which the STRAMM Handbook (Anon., 1977) provides a well-known basis for mining and beneficiation. But it extends from property appraisal, often used for the determination of taxes and royalties, through the determination and comparison of transport costs (e.g., Richer and Soo, 1977), and to benefit/cost analyses of externalities. Economic analysis, the subject of this section, is displayed in rigor and extent both theoretically and as applied to commodity classes in Vogely (1985), but it is implicit though apparent throughout Lefond (1983). The text edited by Vogely places minerals in their aggregative context with economic growth and trade, proceeds to the theoretical analysis of minerals and their markets, analyzes the structure and performance of the major mineral sectors, and concludes with policy issues: fuel, nonfuel, and environmental. Resource appraisal employs quantitative methods for the estimation of mineral and energy resources. It moves through geologic, geophysical, and geochemical properties to the identification of estimation procedures for mineral endowment and for the economic measure of stocks and flows of specific minerals (Harris, 1984). It can be used to estimate the probable amount of a specific resource remaining in a given region and has been used to project sites in a specific

Jan 1, 2008

By Ankit Jha, Javad Sattarvand, Aaron Young

Blockchains are one of the prominent disruptive technologies that are being implemented in several disciplines. The application of blockchains in the mining and mineral industry can provide utility for several processes especially when the industry is undertaking digital transformation. The governing principles of blockchain technology are applicable in undertaking transformation in several processes within the mining industry. This study investigates the applications of blockchain technology within the realms of the mining industry and identifies key areas of implementation. A systematic review of publications on academic platforms relating to blockchain technology in the mining industry did not retrieve a considerable number of articles. Consequently, a thorough review of white papers and articles authored by individuals on use cases within the mining industry is compiled and presented in this manuscript. This paper identifies all the potential areas within the mining industry where blockchains could provide value and improve processes through their implementation. The broad area of implementation of blockchains includes supply chain, traceability in spare parts, contract management, regulatory compliance, and cyber security.

Nov 23, 2023

By K. Muralidharan, P. R. Rao, M. Momayez, K. A. Runge

The evolution of trapped geothermal heat in hot underground mine along with emission of toxic gases and dust during mine activity makes the mine environment unfavorable is hazardous to worker’s health. This imposes significant demand on cooling and ventilation systems. As a result, substantial costs are incurred while implementing environmental regulation processes to dissipate the heat and provide comfortable working conditions. Thus, as an alternative, the development of cost effective materials to act as efficient thermal insulators is on the rise. Thermal conductivity is an important property that is a direct measure of a material’s ability to facilitate/deter heat flow. In addition to their superior chemical resistance, adequate mechanical strength, abrasion and fire retardant as well as environmental benefits in comparison to existing building materials such as ordinary Portland cement, aluminosilicate based geopolymers are now gaining widespread interest as promising thermally insulating and sustainable materials. This paper begins with an overview of geopolymers, transitioning into a discussion of recent developments in the field of geopolymer development as a thermally insulating material broadly classified into: filled geopolymers and porous geopolymers resulting in structures with enhanced ability to impede heat flow.

May 9, 2020

By George H. Willis

In the second half of the nineteenth century, bimetallism progressively replaced by gold standard. After World War I and 1931-33 depression, gold mainly reserved for official international transactions and internal use restricted. Changes since 1971 have shrunk official international use of gold. International payments deficits and surpluses now financed by private and official credit, rarely by gold. Historical review covers evolution of: (1) internal and external private use, (2) internal official use, (3) external official use, (4) role in IMF and (5) use as unit of account.

Jan 1, 1978

By Jerry C. Tien

In 2009 China mined 2.695 billion metric tones (Gt) of raw coal. It is estimated that only 3-5% or roughly 135 million metric tones (Mt) of these were mined from 300 some surface operations. Except for a dozen or so large modern operations, most of China's surface coal operations are small by western standards, with annual production ranging from a few thousand tones to 300,000 metric tones (mt). Depending on the size of operations, equipment used range from small trucks and shovels to large bucket wheel excavators and draglines in sizable pits. This article provides a brief overview of China's surface mineable coal reserves, mining methods commonly used and increasing environmental concerns; introductions of several large surface operations are also provided.

Jan 1, 2012

By Juan Camus

To understand why some companies excel in creating value, Jim Collins (2001) and a group of postgraduate business students engaged in a comprehensive, five-year research project. They examined 1,435 U.S. companies for more than 40 years, seeking those that made significant improvements in their financial performance over time. The distinctive pattern sought was: ?Fifteen-year cumulative stock returns at or below the general stock market, punctuated by a transition point, then cumulative returns at least three times the market over the next 15 years. ?The search identified 11 outperforming companies, all in different industries, that were called the ?good to great? companies. To contrast these companies with similar peers within the same industry, the search also selected a group of comparison companies that failed to make the leap from good to great. Collins then set out to examine the transition point. What distinguishing features did the good-to-great companies have that their industry counterparts did not? At the heart of the findings about these outstanding companies is what Collins refers to as the ?hedgehog concept? ? how to find the one big thing that the company must focus on. According to Collins, those who built the good-to-great companies were, to one degree or another, hedgehogs. Those who led the comparison companies tended to be foxes, never gaining the clarifying advantage of a hedgehog concept, being instead scattered, diffused and inconsistent. This insight is complemented by Peter Drucker (2004), an influential management guru, who asserts that the first question an effective executive should ask is: ?what needs to be done?? Asking this question and taking it seriously, he asserts, is crucial for managerial success; and that the answer almost always has more than one urgent task, but the effective leader only concentrates on one task. In this last respect, Drucker emphasizes: ?If they [executives] are among the sizeable minority who work best with a change of pace in the working day, they pick two tasks. I have never encountered an executive who is effective while tackling more than two tasks at a time.?

Jan 1, 2011

By Jack Bedder

"Editor’s note: We would like to thank those who make this annual issue possible. A special thank you goes out to the industrial minerals annual review editor, to the Industrial Minerals & Aggregates Division Technical Committee chair and vice chairs, and to the authors of the individual commodity profiles.Jim Norman, member SME, of Tetra Tech, is the industrial minerals annual review editor.Ebrahim K. Tarshizi, member SME, of Michigan Tech, is chair of the Industrial Minerals &Aggregates Division’s Technical Committee.The technical committee vice chairs include: • Hyunjung Kim, member SME, of Chonbuk National University, agricultural materials.• Xihui Yin, member SME, of Kemira, ceramics and refractory materials.• Nikhil Gupta, member SME, of Virginia Tech, chemical raw materials.• Jasson Giddens and Swadhin Saurabh, members SME, of Oil Dri Corp of America and Mill Creek Engineering, respectively, chemical raw materials.• Snehamoy Chatterjee, member SME, of the Michigan Tech.• LeDeana Roberts and Shubham Verma, members SME, of Imerys and U.S. Oil Sands, respectively, fillers and pigments.• Thomas Hilderbrand and Kaiwu Huang, members SME, of Thiele Kaolin Co. and Virginia Tech, respectively, sorbents, filters and process aids.• Rhaghav Dubey and Edgar Blanco, members SME, of Outotec and FL Smidth, respectively, specialty mineralsAntimony generally occurs along with gold, lead, copper and silver. There are more than 100 antimony minerals, although the sulfide mineral stibnite is the main one.Antimony enters the supply chain either as a result of mining (primary production) or recycling (secondary production). China has by far the largest antimony resources and is, as a result, the world’s center for antimony mine production. In 2016, it accounted for more than three quarters of the global mine supply out of a world production figure of 130 kt (143,000 st), according to the U.S. Geological Survey. The biggest, and most high-grade deposits are found in southern China, with the largest mines located in Hunan, Guangxi and Yunnan provinces. Tajikistan, Russia, Australia and Bolivia are the largest mine producers outside China. A new antimony project in Oman made progress in 2016, producing first metal in April 2016 in test facilities, and then ordered three furnaces for a 26 kt/a (28,600 stpy) antimony metal and oxide smelter that is due on stream in late 2017.Antimony ingot production is not as widespread as is antimony mine production, owing to the high levels of pollution that are associated with antimony smelting. It is for this reason that smelting has been largely confined to China and other Asian countries, where environmental legislation is less stringent.Antimony oxide production is undertaken on four continents with China being the biggest producer. There is also a considerable amount of oxide production in Europe — which relies on imported feedstock, mostly from China. Antimony also enters the supply chain through recycling. Lead containing antimony is produced in a number of countries, mainly in secondary lead smelters. Typically, a blast furnace charge containing used or discarded battery plates, type metal or bearing metal is reduced to lead bullion, which is refined in reverberatory furnaces and melting pots. In the main, the antimony recovered is consumed in metallurgical applications. China was the biggest secondary antimony producer in 2016, and accounted for 25 retardants and lead-acid batteries. Flame retardants accounted for roughly 50 percent of consumption in 2016 with batteries representing about 25 percent. Other end uses include plastics and heat stabilizers, ceramics and glass and a variety of metallurgical applications. Demand has been sluggish since the global financial crisis, mostly because key markets failed to recover strongly from the downturn, particularly in Europe."

Jan 7, 2017

By J. Kretschmann

Mining heritage can be of outstanding value for many regions around the world, because mining has been done for thousands of years for the benefit of mankind and its development. This paper presents an ongoing project creating a general guideline for the handling of mining heritage on the basis of experiences made in Germany. Interactions of stakeholders in the ?heritage network? as well as strategies for the technical proceeding will be described. An action plan for the sustainable handling of mining heritage has already been developed in part, which includes necessary measures. Best-practice recommendations will be derived. Keywords: m ining heritage / preservation / guidelines / action plan / Sustainability

Feb 27, 2013

By Alan K. Burton

Massive increases in the productive capability of open pit nines after World. War II were in a large part made possible by the introduction of ever larger trucks and the supply of a seemingly bottomless ocean of inexpensive and readily accessible oil. Over a period of about 25 years, a variety of technological developments permitted a tenfold truck payload increase, from about 32 tonnes (35 tons) to 320 tonnes (350 tons). There is no, doubt that this was a remarkable achievement resulting in impressive benefits of scale as well as the ability to control what would otherwise have become an intolerable traffic congestion problem in today's large open pit mines. It became fashionable and economically possible during this time to mine large quantities of low grade material and to tolerate very high stripping ratios. As tine has gone by and as easier to get at and higher grade deposits have been depleted, ore grades have tended to decline while stripping ratios have increased. The alternative to reduced revenues has been an ever increasing demand to step up production which in turn has led to a continuing demand for ever larger and larger trucks. While a larger truck has had the effect of reducing the cost of the operator per unit of material moved and of reducing traffic congestion, it has not specifically addressed the subject of fuel cost.

Jan 1, 1981

By Baolin Qu, Jingxin Wang, Cuncang Xu, Bing Wu, Mingyu Zhong

With the development of the coal mine regulation regime, the situation of coal mine safety production in China has continued to improve. However, coal mine accidents have not been fundamentally eliminated; constantly learning from historical accidents can make mining work safer. Therefore, to better understand the coal mine accident characteristics, this study analyzes the tendency of coal mine safety accidents from multiple perspectives, among which all accidents after the establishment of the State Administration of Coal Mine Safety in 1999 are the top priority. The results show that strict national policy, technological progress, and reasonable coal prices are conducive to the safe development of mines. On the contrary, high-intensity centralized production will lead to frequent accidents in the peak season of coal production. In addition, the type of coal mine ownership will have an indirect impact on the occurrence of coal mine accidents. The research results not only play a positive role in the prevention and control of coal mine accidents in China but also have reference meanings for the safety production of coal mines in other countries in the world.

Dec 28, 2022

By Christopher Mark

Six decades ago, the most dangerous job in the USA was mining coal underground. Roof falls were responsible for half of the deaths, killing about 100 miners every year. Fast forward to 2016 and zero roof fall fatalities. Just three miners were killed by roof falls during the following 6 years. How did the mining community achieve this historic goal? This paper starts by analyzing the roof fall fatalities in 1968, categorizing them by their fundamental cause. Then, it shows how each type of roof fall was reduced over time, using snapshots of the fatalities occurring in subsequent decades. Along the way, it evaluates the influence of the regulatory environment, changing mining methods, and better ground control technology. The study found that in 1968 more than half of roof fall fatalities at large mines were attributable to an inadequate safety culture. The immediate effect of the 1969 Coal Mine Health and Safety Act was to reduce the riskiest activities, like needlessly going under unsupported roof. Other hazards, like large roof falls, required technological developments before they were brought under control. Roof Control Plans, which the US Bureau of Mines had been advocating since the 1920s, played a significant role throughout the process.

Mar 12, 2024

By COLIN A. LAWRENCE, Anthony Del Vescovo

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2017

By Gregg Davidson, Lonnie Jacobs, Brett Zernich, Alan Howard, Robert Pintabona

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2014

Contributions made by mining have played a much more significant role in the development of civilization than is generally conceded by historians or recognized by ordinary citizens. In modern society, mined products pervade all industry and the lives of all civilized people. Early man relied largely on stone and ceramics, and eventually metals, to fashion tools and weapons. Civilization was advanced by discoveries such as abundant supplies of high-quality flint in northern France and southern England and firesetting to break rock. Middle Eastern cultures flourished not only because of agriculture and trade, but also because of mineral-rich deposits nearby. The earliest miners date back perhaps to 300,000 BC; their quest was for nonmetallic minerals (chert, flint, obsidian) suitable for utensils and eventually for weapons. Other rocks and minerals (ceramics, clay, salt, meteoric iron) attracted the miners for jewelry, cosmetics, construction materials, food seasoning, and coinage. At first, their excavations were confined to the surface, either pits or placers. But by about 40,000 BC, mine workings had been extended underground as short adits or shafts, and by 8000 BC as elaborate interconnected openings 300 ft (90 m) in depth. Metallurgical separation of metals from their ores and their subsequent fabrication evolved gradually over the centuries, copper being the first liberated (c. 7000 BC) followed by lead, silver, gold, and iron. Man enhanced both the sophistication of his

Jan 1, 2008

By Jack Bedder, Nils Backeberg

"Native antimony metal is rare and antimony generally occurs together with gold, lead, copper and silver. There are more than 100 antimony minerals, although the sulfide mineral stibnite is the main economic mineral.Antimony enters the supply chain either as a result of mining (primary production) or recycling (secondary production). China has by far the largest antimony resources and is, as a result, the world’s center for antimony mine production. While China remains the leading primary producer, accounting for 69 percent (80.5 kt or 88,700 st) of the global 117.5 kt (129,000 st) in 2017, market consolidation and regulatory inspections across China leading to closures of facilities have caused a significant decrease in Chinese output from 115.8 kt (127,600 st) in 2015 (81 percent of global production).Tajikistan and Russia are the next largest producers of antimony after China, both ramping up production in recent years. Russia could significantly increase its supply of antimony if Polyus moves ahead with supplying 10-12 kt/a (11,000–13,200 stpy) of contained antimony from gold tailings. Australia and Bolivia are also significant mine producers outside China. The value of the different ores varies based on the metal content of the concentrates, with the most valuable gold-bearing ores sourced from Australia’s Costerfield Mine and the least valuable mercury-bearing ores sourced from the Anzob Mine in Tajikistan. On average, Bolivian and Russian ores trade at an intermediate value between those from Costerfield and Anzob. Nearly all of the rest-of-world production is exported to China, where the ores and concentrates are processed into antimony ingots and oxides.Antimony ingot production is not as widespread as is the case with antimony mine production, owing to the high levels of pollution that are associated with antimony smelting. It is for this reason that smelting has been largely confined to China and other Asian countries ,such as Vietnam and Myanmar, where environmental legislation has historically been less stringent. Tajikistan has become a growing producer of antimony ingot since 2014, coming from the commissioned metallurgical plant at the Anzob Mine.Antimony oxide production is undertaken on four continents with China being the biggest producer. There is also a considerable amount of oxide production in Europe (mainly Belgium and France), which relies on imported antimony metal feedstock, mostly from China.A new antimony project under construction by Strategic and Precious Metals Processing (SPMP) in Oman made progress in 2016 and 2017, and after producing first metal in April 2016 in test facilities, was set to be commissioned in the first quarter of 2018. Commissioning had been moved back to June 2018, with a potential ramp-up to 2-3 kt/a (2,200 to 3,300 stpy) of antimony metal by the end of 2018. SPMP is also reviewing producing antimony oxide as part of its flow sheet."

Jan 7, 2018

By Bill Mariucci, Gary Almeraris

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2009

By Bradford F. Townsend, Matthew E. Fowler, Michael F. Smithson, Lawrence R. Eckert

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2010