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Obtaining financing for mining and exploration projects has been difficult for the last several years, particularly for junior companies. Today, though, the purse strings of investors appear to be loosening, leaving the industry with many questions about financing in the coming years. How have capital markets and exploration spending changed? Are there signs of improvement? Where has capital been raised in private, public markets, stock exchanges, private equity, etc.? What companies successfully raised capital in the last year? How are they spending it? How are traditional and alternative funding sources investing in mining? What are the issues mining companies need to know about when tapping alternative sources of capital? Those were some of the questions that were answered at the Current Trends in Mining Finance conference, sponsored by SME and the New York Section April 26-28. Held in New York City, the conference attracted 115 professionals who work on the finance and economic side of the mining industry. Three of the conference organizers talked with Mining Engineering about the conference and the state of financing in the industry today. Tim Alch (TA) is managing director with Behre Dolbear & Co. Alan Oshiki (AO) is executive vice president with the Abernathy MacGregor Group. Henry Weingarten (HW) is managing director with the Astrologers Fund Inc. Here is what they had to say.

By Robert Stefanko

The concept of disposing of liquid industrial wastes by deep-well injection is not a new one. Brines associated with crude oil long have been disposed of in this manner, with the additional benefit of aiding secondary oil recovery. More recently, with the expansion of nuclear energy, the lethal, highly radioactive wastes which are by-products of the fission process have created severe disposal problems. During the past ten years, a variety of industries have resorted to subsurface disposal, some of the details of which are given elsewhere (1,2). The list reveals wide variations in injection rate, pumping pressure, cost, and waste disposition. Included are successful installations in Western Pennsylvania.

Jan 1, 1969

By A. Duerksen

"Surface coal mining in West Virginia has supplied energy to the eastern coast of the United States for over a century. Over the years, the coal mining industry has been forced to adapt as societal demands regarding health, safety, and environmental impacts have changed. More recent pressure has called for another iteration of change: long-term post-mining sustainability. The research discussed in this paper investigates one potential solution - or component of a solution - to improve the sustainability of surface coal mining in West Virginia: post-mining wind power. The paper begins with an introduction to the Appalachian region of the U.S. and the role that mining has played in its history, followed by a discussion of the need for sustainable mining and how post-mining wind power may help fulfill it. Data processing methodology of field data from monitoring locations is then explained. The results are then used to estimate the electrical output of a wind turbine. This data is then utilized in a case study discussion of one of the monitored sites. The paper concludes with an analysis of the broader implications of the research and a discussion of future work."

Jan 1, 2011

By Donald P. Tuchman, Justin R. Patts, Emanuele G. Cauda, Andrew B. Cecala, Elaine N. Rubinstein

Video techniques for monitoring exposure, such as NIOSH’s “Helmet-CAM,” employ both real-time dust monitors and mobile video cameras to assess workers’ respirable dust exposures. Many real-time personally worn dust monitors utilize light scattering sensing elements, which are subject to measurement biases as a function of dust type (size, composition, shape factor) and environmental conditions such as relative humidity. These biased and inaccurate dust measurements impair the monitor’s ability to properly represent actual respirable dust concentrations. In the testing described, instrument mass concentration data was collected using three different types of commonly used commercial off-the-shelf personal dust monitors and compared to a reference standard. This testing was performed in a calm air (Marple) dust chamber in which three units of each make and model (for a total of nine monitors) were used for each test. Equivalency factors (EF, a multiplier to match the Thermo TEOM 1400a reference instrument) ranged between 0.746 and 1.879 across all dusts and environmental conditions tested, and between 0.821 and 1.519 on the ISO test dust.

By A. W. Popp

After forty years of exploration and development, the heavy mineral sand deposits of the Murray Basin are on the eve of substantial exploitation by Iluka Resources Limited, Southern Titanium NL and RZM/Cable/Bemax, whom plan to initiate mining and processing operations in 2005. A trial mining and processing operation was undertaken on the Wemen North strandline deposit in 2001-2003 by Murray Basin Titanium, a joint venture of Sons of Gwalia and RZM/Cable, which brought to light a number of mining and processing problems which have since been the subject of extensive studies and process development work. The mineralogy of these weathered strandline deposits is complex by industry standards due to the variety of the heavy minerals present, coatings on the mineral grains and the extensive weathering and alteration which has taken place during the past 50 million years. This paper provides an overview of the complex mineralogy that, in turn, dictates the processes that can be used to recover the valuable heavy minerals. The Murray Basin encompasses some 300,000 km2 and has been a depositional basin, often land locked, since the start of the Cenezoic Era. The economic heavy minerals include ilmenite, altered ilmenite, leucoxene of highly variable composition, rutile, and zircon. There are also other heavy minerals present such as cassiterite, chromite, and monazite in quantities that pose both problems and opportunities. The clay content and overburden thickness also play a major role in the selection of the deposits to be mined. Project Services Consultants (PSC) has undertaken the preparation of this paper as part of its ongoing participation in the mineral sands industry and in particular the project development activities in the Murray Basin region currently being undertaken by Iluka Resources. PSC has been involved with the mineral sands business for several years with senior staff having in excess of 30 years global industry experience. The company is well placed to provide a range of services to clients like Iluka Resources in the areas of project development, execution and strategic development and industry advice.

Jan 1, 2005

By Steve Kral

The domestic mining industry may be in the doldrums but there appears to be hope, at least from a regulatory standpoint. At least one US senator believes that the events of Sept. 11, 2001 made many citizens see the need for the country to become more self-reliant on its growing energy needs. Even before that tragic day, however, the Bush administration was making a strong push to open up more public land for energy and natural resource development.

Jan 1, 2002

By Gordon Clark, Basar Arioglu, Nasri Munfah, Sanja Zlatanic, Tolga Togan

"The 13.2 m (43 ft) external diameter, double deck Istanbul Strait Road Tube Crossing is one of the most challenging underwater tunnel projects in the world. Subjected to 11 bars of hydrostatic pressure, variable geology, and being in a very active seismic area, the execution of the project required innovative solutions, sophisticated construction techniques and prudent risk management approach. The 5 km (3.1 mile) tunnel consists of a 3.4-km (2.2-mile) tunnel boring machine- (TBM) bored tunnel, 1 km (0.62 mile) twin NATM tunnels and cut-and-cover sections. The project is being delivered in a build-operate-transfer (BOT) contract in a public-private partnership. The technical challenges, coupled with financial and commercial risks required the implementation of sophisticated risk management tactics including the provision of independent design verification. The project was opened to traffic on December 20, 2016, four months ahead of schedule.. This article presents the technical challenges of the project from the design, construction, and risk management aspects..Project backgroundThe $1.245 billion Istanbul Strait Road Tunnel Crossing project, dubbed the Eurasia Tunnel, is one of several major infrastructure projects being implemented in the Republic of Turkey in a public-private partnership approach. The project provides a direct and easy connection between the Anatolian (Asian) side of Istanbul and the heart of its historical district on the European side across the Bosphorus Strait which connects the Black Sea with the Sea of Marmara. The project improves connections to a wide network of motorways on both sides, increase capacity across the Bosphorus by 100,000 vehicles a day, reduces congestion and saves motorists an average of 45 minutes of commuting time in each direction bringing significant economic benefits to the city and the region. It eases traffic across the strait, reduces congestion, decreases pollutants and emission while maintaining Bosphorus. It is the most complex part of the project with the greatest challenges and risks. Part 2 is 5.4 km (3.6 miles) long consisting of 3.4 km (2.2 miles) of 13.2 m ( 43.3 ft) external diameter TBM bored tunnel under the Bosphorus Strait, 1-km (0.62-miles) of twin NATM tunnels on the Asian side, cut-and-cover transition boxes in the Asian and the European sides and depressed approaches on both sides. In addition, this segment includes the toll plazas, ventilation buildings, and the tunnel control and maintenance facilities."

Mar 1, 2017

By Dean Workman

Located in downtown New York City, this project necessitated an innovative conveyor design for successful muck removal. This paper will discuss the technical challenges and engineering solutions of the muck transport system which consists of every commonly recognized version of a belt conveyor. The elaborate system includes a TBM conveyor integral to the back-up system, a wall-mounted extensible conveyor, a crown-mounted transfer conveyor, a floor-mounted fixed-length conveyor, a pocket-belt vertical conveyor, three cascading overland conveyors, and one radial stacker. The most challenging design element was an over-land conveyor featuring a box truss for muck transportation over Northern Boulevard while simultaneously going under the Queens Plaza railroad viaduct. An overview of the project is provided along with the following topics: developing final plans from the proposal concept, interfacing with existing works, communication with the joint venture, and complying with local regulations.

Jan 1, 2008

By K. Huttu, A. van Wageningen

"The Kittilä underground mine in northern Finland is extracting one of the largest known gold deposits in Europe. Kittilä achieved commercial production on May 1, 2009, becoming Agnico Eagle’s first mine to open outside of Canada. The Kittilä orebodies were initially mined from two openpits – Suuri and Roura – and underground operations were added in October 2010. The pits were mined out in November 2012, so mining is now entirely underground in the Suuri and Roura deposits. Additional, small openpits will mine any remaining near-surface reserves in the future.The Kittilä Mine is located in the Lapland region of northern Finland, approximately 900 km (560 miles) north of Helsinki and 150 km (93 miles) north of the Arctic Circle. With a mine life estimated through 2034, Kittilä is Agnico’s longest-life mine.The mine’s proven and probable reserves contain 32 Mt (4.7 million oz) at 4.6 g/t (0.13 oz/ st) gold. Ore has been mined from underground since 2010. The original 3 kt/d (3,300 stpd) operation underwent an expansion project to increase the throughput capacity of the mill by 1 kt/d (1,100 stpd), starting by the end of 2014.The region around the Kittilä Mine is underlain by mafic volcanic and sedimentary rocks of the Kittilä Greenstone Belt oriented nearly vertical. This greenstone belt is similar to those hosting Agnico Eagle’s Canadian deposits in Quebec’s Abitibi region and Nunavut. At the contact point between ironrich and magnesium-rich rocks lies a 100- to 200- m (330- to 660-ft) thick structural zone known as the Suurikuusikko Trend. This trend hosts the Kittilä deposit, where multiple mineralized zones have been traced over a strike length of more than 25 km (15 miles).Most of Agnico Eagle’s work has focused on a 4.5-km (2-mile) segment of the Suurikuusikko Trend that hosts the five main zones of the known gold reserves and resources. From south to north they are: Ketola, Etela, Suuri, Roura and Rimpi.The ore at the Kittilä Mine is refractory, making gold extraction relatively difficult because the gold is generally locked inside the two main sulfide minerals – arsenopyrite and arsenic-rich pyrite. Only about 4 percent is very fine-grained “free gold” (not locked in sulfide grains) and easier to extract. Most of this free gold is found in the outer, oxidized or eroded sections of the ore."

Jan 1, 2015

By A. A. El-Midany, R. M. Farag, A. M. Salem, S. E. El-Mofty

Bentonite represents one of the main players in the stability of the drilling mud. Its particle size and particle size distribution affect the physical properties of the drilling mud especially the rheological properties. Therefore, a specific particle size distribution was recommended by American Petroleum Institute (API) for use in drilling mud. To clarify the effect of individual size and size distribution, in this study, the bentonite sample was classified into different size fractions. Each size fraction was tested separately in terms of controlling properties such as filtration loss, plastic viscosity, gel strength, cake thickness, and packing density. The effect of each size fraction on the rheological properties of the suspension was correlated to the behavior of the whole particle size distribution in the bentonite sample. The results indicate that the coarser the particles, the higher the rheological properties; in this case, the API mixture is the highest. The filtration loss and cake thickness for the API mixture are lower than that of the individual size fractions due to its wider size distribution due to the filling of voids between larger particles with smaller ones, which lead to bed compaction and consequently lower fluid loss and cake thickness.

Once every three years the eyes of the construction and mining industry?s turn to Munich, Germany for the bauma trade fair and exhibition. From April 19-25, Messe München International (MMI) will host the 29th edition of this massive show that, despite the recent recession and global financial struggles, has grown yet again. The show, which is completely booked, will take place on a record 555,000 m2 (5.9 million sq ft) of indoor and outdoor exhibition space at the New Munich Trade Fair Centre. More than 3,000 exhibitors are expected to make use of this event. To prepare for the show that highlights some of the largest and most impressive construction and mining equipment in the world, Messe München began working months in advance on getting the infrastructure on the open-air site ready, in time for the arrival of the gigantic machinery exhibits, which started to arrive in March. Part of the preparations include a new entrance at the northwest corner of the exhibition center that was built to regulate visitor flow better. This should help with bauma considering that in 2007 more than 500,000 visitors passed through the gates. ?Although in 2010 the construction machinery sector in many markets worldwide will be recovering only slowly from the recession, we are pleased to report that we are seeing strong demand for exhibition space. This shows that exhibitors regard participation in the world?s leading trade fair bauma as a must, although many are at present having to make cuts in their advertising and trade-fair budgets. We have been particularly surprised by the strong demand for space from exhibitors from markets like China, India and Turkey. The fair is fully booked and many more companies are on the waiting list,? said Eugen Egetenmeir, managing director of Messe München. More than 50 percent of the exhibitors at bauma 2010 come from countries outside of Germany. While the show?s primary focus is on the construction section, it is not as if the mining sector will be difficult to find. With some of the largest equipment in world on display in section C2 (Fig. 1), the mining industry is sure to be well-represented.

Jan 4, 2010

By Yuting Xue, Gamal Rashed, Zoheir Khademian, Connor Brown, Khaled Mohamed

Ground falls in U.S. underground coal mines can lead to significant consequences, including loss of life, injuries, damaged equipment, and production stoppage. Improving the safety of the workplace is of utmost importance for mine workers and the U.S. economy. The Mine Safety and Health Administration (MSHA) accident/injury/illness dataset provides short narratives for reported incidents, including ground-falls. The main objective of this study is to develop a framework that includes: 1) utilizing machine learning algorithms to categorize ground-fall incidents from narratives based on the main cause of the occurrence and 2) demonstrating an example of a user-friendly visualization to display injury/fatality trends from narratives in U.S. coal mines between 1983 and 2021. The developed framework was tested on a subset of the data and achieved an average F1-score of 96% in categorizing the incidents. The outcome will help identify areas requiring additional research and innovative solutions to reduce severe occupational hazards.

Feb 1, 2024

By R. Gilges

The implementation of effective techniques for meeting the maintenance requirements of the new Utah Copper Division smelter, one of the largest in the Western Hemisphere, is a goal of the smelter management and supervisory personnel. Kennecott's Metal Mining Division Computing Center has been working with smelter personnel to implement a computer program to provide instantaneous access to equipment specifications, maintenance and cost histories, spare parts, preventive maintenance scheddes, etc. for several hundred pieces of equipment. This information will be available to all smelter personnel via visual display terminals. The system will dramatically reduce the time now spent in search of pertinent information required in effectively performing the maintenance functions. It will also be used to analyze practices, detect trends, prepare budgets, and substantially reduce the paper work normally associated with the running of a large and complex maintenance organization.

Jan 1, 1977

By Franco Oboni, Iain G. Bruce

The design of tailings containment structures relies on well-understood engineering methods being applied consistently. Unfortunately, not all facilities are designed or managed to the same level of competency. To standardize procedures, the Mining Association of Canada (MAC, 1998) prepared a “Guide to Tailings Management.” It recommended review of designs and an assessment of the risks associated with tailings impoundments be implemented during all phases of amine life. This paper describes how the quantitative risk assessment (QRA) process can be used to define risks associated with the design, construction and operation of a tailings management facility. And it discusses how, once the risk tolerability curves (RTC) are defined for a project, they can assist the risk management (RM) process.

Jan 1, 2002

By W. G. Pariseau

"The Crandall Canyon Mine (CCM) is located in the Wasatch coal field in central Utah. Extensive longwall mining at CCM preceded a decision to recover coal left in barrier pillars on each side of a set of main entries extending far into the mine. During mining in March 2007, a major bump occurred that led to cessation of mining in the barrier pillar on the north side of the mains and to the start of mining in the south barrier pillar. Subsequent loss of ground control in August 2007, through coal pillar bursts had tragic consequences with loss of six miners and shortly afterward three rescue team members. A U.S. Mine Safety and Health Administration (MSHA)report describes the events in detail (MSHA, 2008).An important lesson to be learned from CCM is the need to select a computer program suitable for pillar design. Computer programs are engineering tools and selecting the right tool for the job is essential. In this regard, minimum program requirements include capability for computing stress distribution within a pillar and adjacent roof and floor strata. The reason is simple: strength of rock is stress dependent; both vary from point to point in pillars and adjacent strata. Preferably, one should follow the evolution of stress as the mining plan is executed from start to finish to assure safety or to warn of a potentially hazardous situation developing as mining progresses.The approach to the problem posed by barrier pillar mining at CCM is conventional in the sense of applying well known finite element modeling techniques to analysis of a proposed mining plan. The engineering purpose is to evaluate the mining plan with respect to ground control questions including roof, floor and pillar safety. Results of previous two-dimensional finite element analysis indicated pillar safety was by no means assured (MSHA, 2008; Pariseau, 2008; Pariseau, 2011). Geometry of barrier pillar mining is limited in two dimensions for example, crosscuts are not seen in vertical cross sections. While three-dimensional analyses are preferred, even moderately sized regions often lead to very large problem sizes that exceed computer capabilities. However, a recent development in finite element modeling of tabular deposits allows for whole mine analysis in three dimensions. This technique involves a dual node - dual mesh concept. Both have been used separately in much earlier work, but are only now used in combination. It is possible to have an estimation of subsidence at a kilometer scale and details of stress, strain and displacement about barrier pillars, main entries and pillars, and so on at a meter scale (Pariseau, 2014). No compromise involving empirical formulas or similar guess work is required. Indeed, all calculations are based on first principles: physical laws, kinematics, and material laws. Effects of joints and in situ variability or uncertainty in strata properties, elastic moduli and strengths, may be included for greater realism. An important objective of the present study is to assess the role of three-dimensional pillar geometry in arriving at conclusions regarding barrier pillar mining versus two-dimensional results."

Jan 1, 2014

By P. R. Dugan

Sulfur removal from high sulfur coal has several objectives including: a) reduction of the atmospheric load that contributes to the problem of acid precipitation; b) reduction of ash, which contributes to decreased energy transfer in boilers, as well as ash disposal; and c) alleviation of the social and economic dislocations reluted to uneven geographical distribution of sulfur in coal reserves. Cost in relation to the value of refined coal will govern the development of an emerging coal refining industry. Estimation of the premium paid by power companies for coal with a low sulfur content is a good estimate of the value that will be added as the result of refining. Estimates of premiums paid in 1984 are $28.65/t ($26 per st) for reduction of total sulfur from 3’% to 1% S and greater than $28.65/t ($26 per st) for removal below 1% sulfur.

Jan 8, 1987

By William Gleason

The Society for Mining Metallurgy and Exploration (SME) has a long and proud history of being the world?s leading resource for the dissemination for technical information regarding the fields of mining and mineral extraction and processing. That reputation was met, and maybe even exceeded, with the programming for the Society?s 2014 Annual Meeting in Salt Lake City, UT Feb. 23-26. The meeting drew more than 6,700 attendees to the three-day conference that featured more than 90 technical sessions with 670 presentations. These sessions covered the breadth of the mining and minerals industry, but it was the so-called ?softer issues? that were discussed in the keynote session that kicked off the meeting. The keynote session, ?Community Engagement: Building Partnerships for Mining,? brought together some of the leading voices from the mining industry, as well as some of the top voices from nongovernmental organizations (NGOs) that work in the mining sector. The common ground between the panelists was their dedication to working to ensure a social, economic and environmental balance in the development of mines. ?We wanted to bring these NGOs in to begin a dialogue to see how we can work together,? said SME President Jessica Kogel. ?This is a space that SME has not typically operated in, but one in which SME can bring a technical, scientific voice to the discussion. SME wants to play a leadership role in creating partnerships between the technical, social and economic areas that are crucial to the success of any mining project.? In today?s environment, finding mineral deposits and extracting the minerals in an economically viable manner is just one piece of an increasingly complex puzzle. Earning and maintaining a social license to operate requires careful consideration of local and global impacts. The industry often comes under intense scrutiny when a new project is proposed and, therefore, it must strive to meet the highest ethical and environmental standards. Success requires cooperation and collaboration between the industry, community and NGOs.

By Maurice A. Ponti

The D.C. Water and Sewer Authority is implementing the Anacostia River Projects component of its Long-Term CSO Control Plan, including 21 kilometers of 3.7- to 7-meter-diameter CSO near-surface diversion storage/conveyance structures and flood relief, pressurized-face, soft ground tunnels at a maximum depth of 65 meters. This paper describes a project-specific soil grouping system that is primarily based on soil characteristics for tunneling derived from tests including Atterberg limits, grain size, swelling, mineralogy, triaxial, pressure meter, and consolidation, which differentiates the project from past area tunnel projects using descriptive systems based primarily on area geology.

Development of a permanent human base on the Moon for exploration requires a self sustaining system. This entails production and processing of limited amounts of raw material on the Moon. Any mining and construction activities on the Moon can only be performed by a robust excavation machine that can excavate a variety of material from loose surface regolith to consolidated (frozen) regolith with embedded rocks in the mixture. Meanwhile, limited amount of information on lunar regolith is available to develop and optimize a machine for given lunar ground conditions. Therefore, any excavator designed for use on the lunar surface should have the ability to adapt to a wide range of operating conditions. A prototype cutterhead for the lunar excavator was built and tested at the Kennametal facility in Latrobe PA A. This paper discusses the results of initial material characterization as well as full scale tests of a prototype cutterhead inrelevent material. A brief review of anticipated production rates under various assumed ground conditions will also be presented.

Jan 1, 2009

By Roy Woodall

Successful mineral exploration is the lifeblood of the mining industry. Contrary to what the environmental lobby would have the world believe, the industry is replacing the metals it is extracting. The reserve base has not changed significantly in 20 years (Fig. 1.) Mineral exploration is a research activity. First there is the idea, the vision or the intuitive thought. The experiments follow. These involve repeated phases of data gathering, data interpretation and concept testing through drilling. For many companies, exploration is the main investment in scientific research. Each mineral exploration experiment may involve years of costly work. Despite the improving tools of science and technology, the investment remains high-risk. Only the promise of high rewards, or desire to survive as a mining company, will stimulate the necessary commitment and level of investment. Confidence that an economic return can be achieved, confidence in the science and technology being applied and confidence in the people involved are the foundations upon which successful mineral exploration is built (Woodall, 1984). The challenges facing the explorationist in the 1990s fall into two categories: - the challenge to make the activity economic; and - the challenge to make the activity socially and, therefore, politically acceptable.

Jan 1, 1992