Search Documents

By Douglas B. Silver

"Editor’s note: Douglas B. Silver, Portfolio Manager, Orion Resource Partners, was the keynote speaker at the 2017 SME Annual Conference & Expo in Denver, CO on Feb. 19, 2017. He also gave the keynote address to the SME Annual Conference in 2008. The following is his 2017 keynote address with a few of the slides that were presented. The full speech is available on YouTube https://www.youtube. com/watch?v=uF0qwGJIX3UIn 2008, I had the privilege of giving SME’s keynote address. At that time the financial markets were on the verge of collapse and my presentation described the issues. Unfortunately I was correct, and global markets went into a steep nosedive, creating the largest economic downturn since the Great Depression.In hindsight, there were plenty of signs that this was coming. The Supercycle had created massive new wealth. This wealth was largely invested in the United States due to the country’s political stability and credit worthiness. In 2004, the large investment banks convinced the U.S. Securities Exchange Commission (SEC) to allow them to triple their borrowing leverage ratios. This made the banks more vulnerable to market volatility. The banks then lent money to NINJAS - people with no income, no job and no assets. Even worse was the fact that these unqualified home owners used adjusted-rate mortgages (ARMs) which they, of course, intended to refinance prior to interest rates rising. These mortgages were then bundled up by the banks and sold to investors as “safe” investment products. The money flowed into these products because the rating agencies gave these instruments high marks. These same agencies earned their fees from the very same banks seeking high ratings. (No conflict there). Private debt exploded and peaked out in 2008.These mortgage products were sold in an unregulated shadow banking system and the ARMs came due. Toxic mortgage default rates skyrocketed and the mortgage-backed securities collapsed in value. This house of cards had a negative feedback loop that accelerated the market crash and resulted in more than $1.5 trillion being lost in the securitization sector, a 47 percent decline in the Dow Jones Industrial Average, foreclosure rates skyrocketing and housing prices collapsing. The financial markets were in a nosedive."

Jan 8, 2017

By R. J. Haydel

The Highland Uranium Operations of Exxon Company, U.S.A. is a large uranium mining and processing complex situated in the Powder River Basin of East-central Wyoming. Surface mining and chemical processing of a large relatively low-grade ore body began in late 1972. An underground mine was later developed and began production in November of 1977. Figure 1 shows the location of our operations. During the planning stages of the project, it was recognized that hiring and retaining quality employees would be a significant problem. Other operations in similarly isolated locations were experiencing high turnover rates and were forced to employ inexperienced and poorly trained operators. In an attempt to attract employees, many of the companies provided mobile home or bunk- house facilities, but these costly peripheral ventures did not prove to be noticeably successful.

Jan 1, 1979

By Adrian C. Dorenfeld

Concentradora "Dana Aida" (100 t/d capacity) was built in 1971-1972 to treat dumps and ores containing mixed oxide-sulfide copper-gold-silver minerals from two veins. The veins, Don Felipe and aria are about 150 m apart, but are distinctly different mineralogically. The deposit is near San Juan de Guadalupe, Durango. Mexico. All new process equipment was manufactured locally, in or near Torreon, Coahuila. Sampling, ore testing, flowsheet design, plant design, drawings purchasing, financing, etc. was planned and directed by two engineers. Construction was executed by local miners and common labor (largely agricultural). The paper presents detailed costs for equipment and construction. The subsequent breaking-in operation is discussed.

Jan 1, 1979

By Vaughn E. Livingston

Washington State has a variety of industrial minerals and although not many are produced currently (1982) most have a history of production (table 1). The value of industrial minerals produced in the state exceeds by several times the production value of metallic minerals. In 1981, 15 minerals - cement, limestone, clay, gemstone, pumice, sand and gravel, stone, diatomite, gypsum, olivine, peat, talc, garnet, silica, and dolomite - were produced. Combined value of nonmetallic production for 1981 is estimated at $218,999,000. Cement had the largest estimated value at $102 million, followed by sand and gravel at $47 million, and crushed stone at $29 million. These figures are from the US. Bureau of Mines preliminary production figures for 1981.

Jan 1, 1982

By Botond Beno, Dave Watson, Danny Read

The Hampton Roads Bridge-Tunnel (HRBT) Expansion widens the existing I-64 four-lane bridge-tunnel corridor to eight lanes through construction of two parallel tunnels, interstate widening, and bridge expansions. The design-build contract was awarded to Hampton Roads Connector Partners with HDR and Mott MacDonald retained as lead designers in a Design Joint Venture. This paper will highlight some of the e challenges related to the design of the twin bored tunnels from spaceproong, tunnel enabling wors, segmental lining design and durability considerations.

Jun 23, 2024

By Biswajit Samanta, Rahul Kumar, Pranjal Pathak

The Open Pit Mine Production Scheduling Problem (OPMPSP) is a complex optimization problem that seeks to determine the best sequence for extracting mineralized material from the ground in order to maximize the Net Present Value (NPV). This process must take into account various capacity constraints, such as mining rates, processing limits, stockpiling capacities, blending requirements, and precedence constraints, which dictate the order in which blocks can be extracted. Traditionally, the OPMPSP has been formulated as a mixed integer programming problem, employing binary and continuous variables to represent the extraction of each block. However, this approach has limitations, particularly when it comes to addressing the stockpiling issue. In response, some researchers have proposed mathematical models, which offer a more accurate representation of the problem but come with their own set of challenges. In this study, an alternative approach to tackle the OPMPSP with stockpiling by employing constraint programming (CP) is explored. The method was carefully tested on the Newman1 dataset from the well-known Minelib library. The results show that the CP-based model obtained a production schedule having about 2.69 % higher NPV than the NPV of the solution, which is recorded in the Minelib Library.

Jun 25, 2023

By John Songstead

INTRODUCTION The Bunker Hill mine, located at Kellogg, ID, in the Coeur d'Alene mining district, has been a major pro¬ducer of lead-zinc-silver ore since 1887. Since its dis¬covery, it has produced over 25 401 171 t (28 million st) of ore from 20 to 25 veins and ore zones. The mine now covers an area of approximately 1.609 km (1 mile) in length and 0.8 km (1/2 mile) in width and extends from 1097 m (3600 ft) above sea level to 488 m (1600 ft) below sea level. Production is presently at a rate of 1542 t/d (1700 stpd). During 1965, a new stoping method, the Bunker Hill pillar system, was developed to enable the profitable mining of large, low-grade zinc ore bodies. The system was specifically designed to in¬corporate the Atlas Copco T26GH rubber-tired loaders. High productivities were achieved, and the method was adapted for mining the higher grade stopes where large timber square sets are utilized. This results in nearly 100% extraction. GEOLOGY The area encompassing the Bunker Hill mine lies immediately south of the Osburn fault, a major east-west striking, deep-seated strike slip fault which is the dominant structural feature in the Coeur d'Alene district. The Bunker Hill forms a series of veins and mineralized zones which occur as link structures, tension fractures, and breccia zones in folded, interbedded argillaceous quartzites of the Revett and St. Regis formations of the Precambrian belt series. The Rosco ore body is predominantly a zinc ore body above the Cate fault, which is presently known to occur from the 13 level. [elevation 488 m (1600 ft)] to the 1600 level [elevation 304 m (1000 ft) ]. These ore bodies are stringer zones with at least one dominant 1.8 to 4.5 m (6 to 15 ft) wide band of ore. They dip 0.09 to 0.26 rad (5° to 15°) steeper than the local 0.61 rad (35°) dip of the Cate fault, and also deviate 0.26 to 0.52 rad (15° to 30°) in strike from the Cate. Because of the flat dip and fractured weak hanging wall, normal cut-and-fill mining has not proven practical in this ore body. The mechanized timber methods described in the next section and the Bunker Hill pillar system are the mining methods successfully used. MINING METHODS While pillar stoping and mechanized cut-and-fill stop¬ing methods were obviously superior to the widely used timber stoping methods, as far as cost and productivity

Jan 1, 1982

By Arthur S. Maynard

There was a tendency several years ago for the average coal producer to more or less sit back satisfied with the big utility and metallurgical mar¬kets with long term contracts, not realizing, or possibly not evaluating correctly the importance of the growing industrial market Even the companies which were producing coal for the industrial market were primarily interested in the larger industrial customer, not fully realizing that a large percent of the industrial coal sold was to plants using less than 15,000 tons per year. As a result, possibly, the greatest inroad made by competitive fuel was made in this group. The situation mentioned previously cannot be blamed entirely on the fact that the coal markets were not evaluated in their proper perspective. Some of the responsibility would have to be due to the situation that existed during the last war' and the period immediately following, when most of the coal was put to markets of higher realization, leaving the relatively small -industrial user-to get his fuel wherever he could. This usually would mean coal from some 'gopher hole" with fluxuating quality and supply. Therefore, it was not uncommon for some industrial customers to go to competitive fuels as soon as equipment and fuel were available. Fortunately, before this situation got completely out of control, the coal producers, realizing the seriousness of the problem, made available, usually through their sales department, combustion engineers and other specialists, to help the industrial user with his problems; The engineers usually found several problems, old equipment, use of incorrect size con¬sist, ash and fusion coals, lack of automation, fly ash and dust problems which increased cost and jeopardized the customer's relations with his employees and the public.

Jan 1, 1959

By C. Sunderman, R. Jacksha

"Mine monitoring through various sensors is a vital component of successful miner safety and health programs. Data from environmental, geotechnical, infrastructure, and other types of sensors are increasingly being used to discover and mitigate health and safety concerns in underground mines. In many smaller underground mines, as well as in new development headings of larger underground mines, leaky feeder communication systems may be the only available means to transport crucial monitoring data. In addition, data transport is increasingly being delivered using Internet Protocol (IP) while older forms of serial communication are being retired. This paper presents the selection, configuration, and testing methodologies that were employed by researchers from the National Institute for Occupational Safety and Health (NIOSH) to integrate commercially available land mobile data radios into an existing leaky feeder communication system to provide Internet Protocol data transport. INTRODUCTION To enhance the health and safety of their mining workforce, mine owners and operators are increasingly installing environmental monitoring and control systems in underground mines. Real-time, mine-wide monitoring is becoming a reality with the implementation of the Industrial Internet of Things (IIoT) into the underground mining industry [1]. However, not all underground mines, especially smaller mines and new development headings in larger mines, have the information technology (IT) infrastructure in place to handle the data transport requirements for the newer IP-based technologies that are part of IIoT. This was the case with a mine in the Western United States; it lacked the infrastructure to perform critical monitoring in remote headings. The mine partnered with the U.S. National Institute for Occupational Safety and Health’s (NIOSH’s) Spokane Mining Research Division (SMRD) to develop and evaluate a cost-effective solution for real-time monitoring of geotechnical conditions in relatively remote sections of the mine. This paper describes SMRD’s solution to leverage the mine’s existing leaky feeder system to achieve IP data transport using commercially available land mobile data radios. DATA RADIO SELECTION The primary selection criteria for the data radios were network data format, modulation type, and radio channel spacing. The network data format decided upon was Internet Protocol. This format allowed for straightforward integration between the IP-enabled data acquisition system located in a remote heading and the network switch located in the control room. It also eliminated the added complexity of additional network hardware such as Ethernet to Serial converters. IP additionally provided a direct path to integration into higher bandwidth networks, such as fiber optic, should they become available."

Jan 1, 2018

By Kelly Sands

"Mitigation may be considered a hurdle when it comes to environmental permitting. For complex projects with site specific mitigation plans, the time to devise those plans and get them approved can be a long and costly endeavor. However, mitigation options are expanding and the mitigation banking industry has grown tremendously over the last two decades, helping projects move forward with less debate. Mining companies are recognizing the value that mitigation banks provide in helping to shore up project timelines and costs. Where possible, companies are taking advantage of the opportunities to buy credits from thirdparty providers offering mitigation bank credits. In some instances, mining companies are taking matters into their own hands by establishing mitigation banks to realize their own mitigation freedom. That can have its advantages and disadvantages, as discussed below. All in all, the expansion of mitigation options has streamlined the permitting process, introduced flexibility, improved project permitting timelines and loosened the permitting girdle.Compensatory mitigationCompensatory mitigation involves actions taken to offset unavoidable adverse impacts to wetlands, streams and other aquatic resources and authorized by Clean Water Act section 404 permits and other permits. As such, compensatory mitigation is a critical tool in helping the federal government meet the longstanding national goal of ‘‘no net loss’’ of Waters of the U.S., both in acreage and function.Section 314 of the National Defense Authorization Act for Fiscal Year 2004 required the Secretary of the Army, acting through the Chief of Engineers, to issue regulations “establishing performance standards and criteria for the use, consistent with Section 404 of the Clean Water Act, of on-site, offsite, and in-lieu fee mitigation and mitigation banking.” The provision also required that those regulations ‘‘maximize available credits and opportunities for mitigation, provide flexibility for regional variations in wetland conditions, functions and values, and apply equivalent standards and criteria to each type of compensatory mitigation’’ (73 FR 19595). The result was the Final Rule on Compensatory Mitigation for Losses of Aquatic Resources issued in 2008 (33 CFR Parts 325 and 332).”"

Jan 6, 2017

By John A. Organiscak

The Bureau of Mines evaluated a new dust control technique for longwall personnel required to work at the tailgate end of the face. This technique utilizes a water-powered scrubber to clean a portion of the face air, which is discharged behind a brattice partition at the working area. Laboratory simulation of this system in a wind tunnel resulted in average efficiencies greater than 70 pct with system efficiency directly related to scrubber quantity. Underground evaluations indicated a similar direct relationship between scrubber quantity and system efficiency. Gravimetric measurements of respirable dust made during these underground evaluations resulted in average protection efficiencies ranging from 30.7 to 42.5 pct with increasing scrubber air quantity.

Jan 1, 1983

By Louis M. Perlman

Quantitative methods are, by now, a standard tool of the mining industry, and are commonly used by Research Departments in their evaluation of production methods and schedules, and their associated costs. Indeed, much sophisticated computer work has been devoted to such evaluation of controllable costs and capital requirements. These data are an important input into the project evaluation formula, which is probably the most important single calculation per formed by a mining company, since the result decides whether a particular project is viable. It is instructive to summarize the broad principles of project evaluation, since they are crucial to the remaining sections of this paper. PROJECT EVALUATION The most widely used method of appraising projects is known as Discounted Cash Flow (DCF) method. Two main variants are used; they are known as the 'not present value' (NPV) approach and the 'internal rate of return' (IRR) approach respectively. The difference between the two is that the former takes the firm's interest rate as given and uses this knowledge to calculate the present value of the project; whereas the latter calculates the highest interest rate the project could tolerate and still just breaks even. The technique is more simply discussed in terms of the first method (NPV).

Jan 1, 1972

By Kanaya Koichiro

Doyashiki Concentrator in Hanaoka mine of Dowa Mining Co., Ltd. started the operation in 1943, treating the ore mainly from Doyashiki ore deposits. After the cessation of mining of Doyashiki ore body in 1973, Doyashiki concentrator began to treat the ore from Fukazawa mine instead in the same year, and furthermore the ore from Ezuri mine In 1979. Currently Doyashiki concentrator treats 30,000 tons of ore per month from both mines. The ore treated is complex sulfide ore, called "Kuroko" (black ore), and the principal minerals contained in the ore are chalcopyrite, galena, sphalerite, pyrite, and barite, accompanied by bornite, tetrahedrite, tennantite, covellite, stromeyerite, argentite, polybasite, pearcite, and electrum. The Principal gangue minerals are quartz, gypsum and clay. The grade of the feed to the concentrator averages 0.9 p/t Au, 110 g/t Ag, 1.1 %Cu, 2.8 %Pb, 9.2 %Zn, 5.0 % Pyrite-S and 13% BaS04. The feed is, after washing and two-stage crushing, ground to 88% minus 200 mesh in a rod mill and ball mills with cyclone classifiers, and five concentrates are recovered by flotation. Primarily copper-lead bulk concentrate is recovered by sulfurous acid-lime flotation method, and then from the bulk concentrate copper concentrate is floated by hot pulp flotation method, sinks being lead concentrate. Zinc concentrate is recovered from the tailing of copper-lead bulk flotation, pyrite concentrate from zinc flotation tailing and barite concentrate from pyrite flotation tailing. The final tailing is sent to the dam.

Jan 1, 1982

By Bob Katsiouleris

Having passed through the worst of times for industrial minerals demand, there are signs that the best of times lie ahead. If the downturn was the result of unsustainable economic policy, the path forward has everything to do with sustain-ably meeting the demands of more people enjoying higher standards of living than ever before. Minerals producers must be poised to understand and meet their requirements well into the next decade. Successfully marketing industrial minerals - the building blocks of a growing and increasingly urban world population - will depend on producers? ability to respond nimbly to a rapidly changing and regionally evolving macroeconomic environment. A renewed focus on energy conservation, sustainable agriculture and building practices and consumer demand for products with a smaller environmental footprint will drive product and market segmentation strategies. These trends will not only shape the way industrial minerals producers do business, but also the type of skills and people they will require to run those businesses.

Jan 1, 2011

By A. G. Mayton

Bureau of Mines research has addressed improved operator protection for thin-seam shuttle cars. Because of working height restrictions in thin-seam mines (1.22 m or 48 in), MSHA regulations require that-canopy protection on shuttle cars be provided only in mines 1.07 m (42 in) and greater; however, variances are given to mines 1.22 m (48 in) and below. This paper reviews past Bureau efforts to develop protective structures for thin-seam shuttle car operators. The paper also discusses recent research leading to a novel method of protecting shuttle car operators, in mines as low as 1.02 m (40 in), through the use of a cross-car, end-mounted operator compartment.

Jan 1, 1989

In this paper, a number of novel hypotheses that provide a fresh perspective on the characterization of strata movements associated with longwall mining are developed by analyzing subsidence measurements with an influence- function-based computer program. With this influence-function technique, easily obtained surface displacements can be used to determine some of the complicated, expensive, and difficult to measure movements of the immediate roof strata in a longwall panel. The primary hypothesis developed by this analysis proposes the existence of an area of partial roof caving near the edge of a panel called the "edge effect." A second hypothesis, interrelated with the first, promotes the importance of the effect of gate-entry closure on the observed strata movements. Both the primary edge effect hypothesis and the secondary hypothesis concerning gate-entry closure are justified and quantified in an extensive analysis of surface subsidence that uses supporting information from related theories, design criteria and insitu measurements. Next, the edge effect and the gate closure hypotheses are extended further and used to provide an explanation of the complex subsidence interaction of adjacent longwall panels in what is termed a "redisturbed" effect. Finally, in the conclusions of this paper, the importance of accurately understanding these longwall strata movements for proper subsidence prediction or gate design is stressed.

Jan 1, 1986

By I. E. Odom

A study was made of the physical and chemical nature of silica minerals found as natural impurities in bentonites and montmorillonitic Fuller&apos;s earth clay products as well as in <10 micron dust from eight processing plants. The results show that the silica minerals present in these clay materials are totally encapsulated or encased in clay. No "free" silica minerals could be observed in SEM images of either granular or powder products or in dust samples collected for MSHA crystalline silica analysis. Silica minerals, such as quartz, are identifiable by SEM and EDS analysis only after removing the clay coatings by vigorous washing. After washing it can be observed that all crystalline quartz grains also have diagenetic overgrowths of what is probably opaline silica. The clay and opaline silica encapsulation of quartz plus the strongly hydro scopic nature of montmorillonite are believed to be responsible for there not being a single confirmed case of silicosis among workers in the subject plants after more than 65 years of production.

Jan 1, 1996

Miners really are an optimistic bunch. Even with the dark clouds hanging over the global industry, mining professionals still turn out in droves at industry conferences. In February, more than 7,200 professionals attended SME?s Annual Meeting in Denver, CO, a record. And the following week, more than 30,000 people converged on Toronto, ON, Canada for the Prospectors and Developers Association of Canada (PDAC) meeting. For many small and junior mining and exploration companies the PDAC conference is a place to find potential investors in their projects. The Investors Exchange attracts several hundred companies, each showing off their properties to the many money types who wander the hall during the four-day conference.

Jan 1, 2013

By L. M. Pero

The paper summarizes aspects of the recent literature on mineral development in the Third World. The emphasis is on publications covering agreements between host governments and mining companies.

Jan 1, 1985

By John T. Cumberlidge

The Groveland deposit, in the Upper Peninsula of Michigan, consists of an E -W trending overturned syncline of Middle Precambrian Vulcan iron formation. At Groveland, the Vulcan formation can be divided into four units or facies. The total succession may be more than 550 feet thick, and consists of a basal unit composed of a lean chemical quartzite with traces of magnetite; a non-banded, partly clastic unit characterized by the preponderance of hematite over magnetite; a transition unit of well-banded magnetite-bearing iron formation interbedded with non-banded oolitic hematite; and a well-banded magnetite-quartz silicate unit at the top of the exposed sequence. The present magnetite-hematite ratios of different units within the orebody are considered to be a primary (post-diagenetic) feature of the original sediment. Subsequent regional metamorphism has increased the grain size of the original iron oxide minerals, but did not appreciably alter the oxidation state of the original sediment.

Jan 1, 1964