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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 D. E. Wolfson

As a part of its overall program of coal carbonization, the Bureau of Mines is studying the coking properties of coals that may be used for metallurgical purposes. The objectives of this study were given in detail in a previous report.2/ The inherent suitability of coal for metallurgical use depends primarily on (1) chemical composition, (2) preparation characteristics, and (3) carbonization behavior. The first two factors, as well as the available reserves, are considered in selecting coals for carbonization tests. According to the estimate of reserves by Dowd,3/ the recoverable coal in Floyd County in beds 28 inches or more thick, in thousand tons, is as follows: [ ]

Jan 1, 1958

Two events during the past decade have combined to effectively alter the role of the geologist working in Papua New Guinea. The gold boom of the 1980s resulted in a substantial increase in the general awareness at village level of mining companies, gold and landowner issues, and as a consequence of the Bougainville tragedy, landowners are also very much aware of the potential problems of a mining operation in their area. Landowners know they have the power to remove a company from a project area, and government has shown itself to be virtually powerless and unable to help the company effectively. During a considerable proportion of a project's development time, the project geologist is viewed in the eyes of the local community as the 'company'. Good landowner relationships are nurtured over a reasonable time period and the input of the geologist is significant in determining the eventual fate of company-landowner relationships. The initial impressions of the company, gathered by the local community, will have a far reaching impact on the nature and direction of their future exchanges with the company.

Jan 1, 1991

By N. K. Singo, J. D. Kramers

The reprocessing of tailings resources to extract gold on an industrial scale has become common practice. While these projects are common in the Witwatersrand basin, similar low-technology processes are not operational in smaller goldfields. This study explores the possibility of reclaiming the tailings dump of the Louis Moore Mine in the Giyani Greenstone Belt, investigates potential hazards to communities in the vicinity, and identifies mitigation strategies. Auger samples were taken from the Louis Moore tailings at depths of up to 5 m. Aqua regia leach analyses show Au concentrations of up to 1 g/t. Inferred estimations based on ordinary kriging (OK) and inverse distance weighted (IDW) methods put the residual Au resource in the Louis Moore tailings dump at 0.20 t. Reworking the tailings is viable, although a potential environmental risk exists in the form of elevated arsenic concentrations. Further exploration is required to determine the mineralogical associations of Au and As. Tailings reworking would assist in raising funds for mine rehabilitation. The secondary tailings could potentially be repurposed, which would provide employment and facilitate community development, as well as deliver environmental benefits.

Jul 1, 2021

By W. S. Dyer

The lignite deposit at Onakawana on the Abitibi river is of particular interest at the present time, since the Ontario Government has recently decided to proceed with the extension of the Temiskaming and Northern Ontario railway to James bay. Forty-five miles of steel will be laid this year to the crossing of the Moose river. This will cross the lignite field. It has been known for many years that lignite occurred in the Moose River basin, but it was not until drilling was commenced at Blacksmith rapids (or Onakawana, as the camp is now known) in June, 1929, that a seam of economic thickness and extent was found. Early in 1929 the Ontario Legislature voted $25,000 for the carrying out of a drilling programme in the Moose River basin. This came as a culmination of two summers' exploratory work by the Geological Branch of the Ontario Department of Mines, and as the result of a report which said; in effect, that further information concerning the mineral resources of the basin could only be obtained by drilling, and that such a drilling programme was well worth while in order to establish once for all whether lignite, fire-clay, or oil or gas did or did not exist in economic quantities in the region.

Jan 1, 1930

By Lynch A. J

Comminution within rod mills has been investigated by use of a matrix analysis of breakage processes. A parameter, the number of breakage stages, has been introduced and comminution within all rod mills has been expressed in terms of the number of grinding stages and a function which describes the feed rate, mill diameter, and mill speed. The effect of variation in feed rate, feed sizing analysis and mill speed on the number of breakage stages is discussed, but no general relation is proposed because more study is needed.INTRODUCTIONRod mills are normally used as the first unit of multi-unit systems for the grinding of metalliferous ores and the cost of operating rod mills may be considerable. For both economic and metallurgical reasons, it is therefore necessary that the mills should be operated efficiently and that a knowledge of the mechanism of the size reduction process within rod mills should be as complete as possible. While a qualitative assessment of the process may be of some value, a quantitative assessment gained by describing the process in mathematical terms can be of much greater use because it may also be used for design and control purposes.In this paper, an empirical mathematical model is postulated to describe the size reduction process within rod mills and it is used to analyse the effects of variations in both rates and size distributions of the feed to the mills.GRINDING CHARACTERISTICS OF ROD MILLSMyers (1953) discussed the grinding characteristics of rod mills and suggested that a pronounced screening effect, resulting in the preferential grinding of the coarser particles, occurs within the mills. This is illustrated in...

Jan 1, 1964

By J. B. Boisvert, P. Oshust

A significant source of uncertainty in the diamond resource contained in kimberlite pipes is the volume of the pipes. Often the material within a pipe will be mined as ore, leaving the actual geometry of the pipe as a significant source of uncertainty. It is desirable to use stochastic techniques, rather than deterministic methods, to model pipe geometry because stochastic techniques generate multiple realizations that are reproducible and can be used to assess uncertainty in pipe geometry. The proposed methodology uses sequential Gaussian simulation of pierce point locations interpreted from drillholes through a kimberlite pipe. Kimberlite pipes are approximately cylindrical in shape; therefore, the data are transformed to cylindrical coordinates to facilitate the simulation of pipe geometry. Rather than using xyz coordinates to define the pierce points, z, ??and pipe radius are used. The radius variable can be simulated in z-??space to generate multiple realizations of pipe volume. Uncertainty in the volume of the pipe can then be evaluated. This methodology is demonstrated with a kimberlite pipe at BHP Billiton’s Ekati diamond mine.

Jan 1, 2008

The epithermal Au-Ag deposits of the Hauraki Goldfield have formed in the convergent plate margin setting of the Coromandel Volcanic Zone (CVZ). The deposits form as siliceous lodes in the upper parts of geothermal systems associated with andesitic and rhyolitic volcanism. Two types of low sulphidation epithermal mineralisation are recognised in these volcanic terranes. Vein deposits within the rhyolitic terrane in the east and south of the CVZ (Whitianga Province) are typified by Chalcedonic Silica-Adularia-Illite type mineralisation. The veins are hosted by both rhyolite-dacite volcanic rocks and the underlying andesitic basement. The mineralisation formed by episodic violent decompressional boiling of deeply circulating meteoric water, with some magmatic fluid contribution; this boiling was associated with hydraulic fracturing and hydrothermal eruptions in geothermal systems where the piezometric surface of the deep geothermal reservoir lay near-surface. Such episodic boiling provides chalcedonic veining, banding and brecciation textures, adularia stability, bladed calcite, and extreme loss of H2S gas from the fluid to cause major gold deposition.   Crystalline Quartz-Illite-(Adularia-Kaolinite) type mineralisation is widespread in the andesitic terrane forming the northern and western portions of the CVZ (Kuaotunu Province). There is a spatial association with weak mineralisation of the high sulphidation (Vuggy Silica-Alunite-Kaolinite-Illite) epithermal type and porphyry eu-Au type. Crystalline Quartz mineralisation is probably formed by the mixing of shallow acidic groundwaters with the ascending deep geothermal fluid in geothermal systems beneath andesitic stratovolcanoes. The piezometric surface to the deep geothermal reservoir in these systems is likely to lie at considerable depth, with acidic gases rising from the geothermal reservoir condensing within the overlying vadose zone. The cooling effect, oxidation and pH decrease accompanying mixing apparently overcomes the dilution effect, and results in quartz deposition, illite (and locally kaolinite) alteration, and precipitation of gold. A high level of base-metal sulphide precipitation also enhances gold deposition. Violent boiling of the mixing fluids may occur at local structural dilation sites, producing high grade "bonanza" gold mineralisation.

Jan 1, 1991

By F. G. Scott

This document is a proposed program plan for mining environmental research to be conducted by the U.S. Bureau of Mines in support of industrial oil shale mining and processing. This program plan is one of three research alternatives being considered by the Bureau, each based on a different level of anticipated funding. This report documents the low funding level program plan.

Jan 1, 1980

A dedicated tunnel construction version of the Caterpillar 328D LCR compact radius excavator is proving highly productive on the A9 Autoroute construction project near Visp, in Switzerland. It is the first machine of its kind to operate on a Swiss contract and uses a special dedicated front attachment designed and constructed by German Caterpillar dealer Zeppelin. The machine offers a powerful, stable and compact solution for tunneling contractors. A rear overhang of just 305 mm (12 in.) provides a tail swing radius of just 1.9 m (6.2 ft). The 328D LCR is ideal for the restricted working areas within a tunnel construction site. The machine is equipped with the wide tracks from the 330D L conventional crawler excavator, ensuring maximum stability when operating. In addition, the boom mounting has been moved further toward the center of the machine for the tunnel model, creating an increased lift capacity over the front end compared with a standard 325D L. The boom itself features a robust box section construction, with high-strength steels, additional supporting struts and reinforced bearings for maximum durability. All pins have hard-chromium plating for optimum protection against wear. Stick digging force is a powerful 134 kN, with up to 212 kN of bucket digging force available, for maximum penetration in blasted material. The 328D LCR is also equipped with a heavy-duty dozer blade as standard. This ensures outstanding stability when working and providing a useful secondary tool for clearing and leveling within the jobsite. Two 45° tilting mechanisms in the boom construction, allow the boom to be swung to 45° on either side of the machine. So the specially designed attachment linkage provides increased rollback for access to the roof of the tunnel. A Caterpillar CW45S mechanical quick-coupler allows rapid changes between specialist tunneling attachments, standard Caterpillar buckets and a range of Caterpillar work tools. The machine is powered by a Caterpillar C7 diesel engine. This six-cylinder EU Stage IIIA diesel motor [ ] offers 8 percent more power than its predecessor, with 140 kW (190 hp) available at just 1,800 rpm. Caterpillar?s ACERT combustion technology results in lower fuel consumption and reduced exhaust emissions. However, the tunnel machine is also equipped with a diesel particulate filter as standard, to further cut exhaust gases within the tunnel working. The 328D LCR is designed for use in transport tunnels of 6.8 m (22.3 ft) in height. With the tunneling boom in place, the machine has an operating weight of 42,540 kg (93,783 lbs), yet retains a transport height with the tunnel boom of just 3.9 m (12.8 ft). Transport width with 600 mm (23.6 in.) track shoes, is just 3.2 m (10.5 ft). On the A9 tunnel contract, the machine is being used by a consortium of Swiss and Austrian companies working for the canton of Valais? Routes Nationals Construction (RNC) department. The 31.8-km (19.7-mile) A9 Autoroute construction project will connect Sierre in the west and the town of Brig to the east. The tunnel that is bypassing the town of Visp is just one of a number along the mountainous route.

Jan 1, 2009

By D. C. Sharpstone

THE Polaris-Taku mine is a new gold property, situated in the far north-west corner of British Columbia. Production was started in November, 1937, at the rate of 150 tons a day, and recently has been increased to 200 tons. The property, which promises to become one of British Columbia's important gold mines, was developed and brought into production in twenty-nine months after work was started on it as a virtual prospect in June, 1935, by Edward C. Congdon and associates. Inaccessibility, extraordinarily complicated geological problems, and difficult metallurgy retarded development of the property before acquisition by the present interests, an::l, in fact, discouraged two companies that had spent substantial sums upon it from continuing development. This paper is concerned with reviewing the development of the property and describing the principal features of the geology, the mining and metallurgical practices, and the equipment employed. Acknowledgments The writer is indebted to Mr. Edward C. Congdon, President of the Polaris-Taku Mining Company, and to various members of the mine staff for their assistance in assembling the data for this paper. Special thanks are due to Mr. George G. Griswold, Jr., of Butte, Montana, who generously and painstakingly prepared the section dealing with milling and power. Microscopic studies of ores were made by Professors Frank Grout an::l G. M. Schwartz, of the University of Minnesota, and by Mr. Griswold.

Jan 1, 1938

By Ralph D. Gift

This report describes a program of research to evaluate methanometry in coal mines. The program commenced by conducting an extensive state-of-the-art survey. Details of the survey are presented which includes a rating of various types of instruments that can be used to detect and record methane gas. Laboratory test data, on mine instruments tested are presented together with results from a computerized statistical analysts.

Jan 1, 1972

This report presents the results of a study of Kennecott Copper Corporation?s Chino leaching dump at Santa Rita, N. Mex. The stability studies described herein were performed on only one cross section of the leach dump, utilizing data obtained from drilling, sampling, and testing, which was limited in nature. The first part of the report contains a discussion of site geology and seismicity, pertinent information on the waste material disposal system and leaching method, a discussion of the waste embankment characteristics, a summary of the engineering analyses, and a bibliography. The second part (appendices) contains basic geologic and engineering data supporting the discussions in the first part.

Jan 1, 1974

By Felipe Calizaya

This study describes the principles involved in the design of a booster fan installation, the basic requirements, and the provisions needed to guarantee a safe operation of the unit. It also describes how a booster fan should be selected and what measures should be taken so that events such as uncontrolled recirculation of air in a mine can be avoided. A computer program called MFSELECT is presented to assist the ventilation engineer in the design process a For a given mine ventilation network, the program determines the duties of fans and regulators that will fulfill the airflow requirements of a mine and minimize the total power consumption. The application of the program is illustrated by the detailed solution of a sample problem. A Case Study based on the Jim Walter Resources' No. 7 Mine is utilized to describe the basic requirements for the design and operation of booster fans, and illustrate their potential benefits in mine ventilation. Finally, the study discusses a process control system designed to evaluate the safety conditions in the mine and report on the status of both surface fans and underground booster fans.

Jan 1, 1990

By Jamal Rostami, Ebrahim Farrokh

Selection of tunneling method, specially the use of shielded machines for application in deep rock tunnels can be heavily impacted by presence of ground convergence and squeezing conditions. Tunnel convergence is a function of ground conditions (i.e., rock mass behavior, groundwater, in-situ stresses), size of the opening, and TBM operational parameters. The case study of Ghomroud water conveyance tunnel project in Central Iran, which is under construction using a double shield TBM, is used to examine the effect of rock parameters on tunnel convergence and hence on the need for over excavation and shield lubrication to avoid problems with the shield getting stuck. Although it is impractical to perform a continuous assessment of rock mass conditions within the shield or in the lined tunnel, results of field observations and subsequent studies show that the amount of the tunnel convergence has direct correlation with the percentage of fines and large rock fragments in the muck and TBM thrust/torque/ROP. These relationships have been examined and will be presented in this paper.

Jan 1, 2007

By W. A. Lang

COAL of sub-bituminous rank underlies much of the plains area of Alberta. This coal is geo-logically young, and occurs in Belly River and Edmonton strata of Up-per Cretaceous age. Generally, the seams are flat-lying, but in some areas they may dip as much as 5 degrees. The overburden, composed mainly of glacial clays and sand-stones, may vary in depth from a few feet to several thousand feet. Recovery of the coal has 'been by drift, slope, and shaft underground mines, and by open-pit stripping operations. Production has been obtained from a large number of mines, most of which have been relatively small and with preparation equipment limited to a loading tipple with screening facilities, and a picking belt where high-ash materials can be removed from the larger sizes. The coal has been sold for domestic and industrial space-heating, for production of process steam, and for power generation. In re-cent years competition from natural gas, propane, and oil has seriously interfered with the production and marketing of sub-bituminous coal, especially with the disposal of the smaller sizes at a realistic price.

Jan 1, 1958

By Filip Rochette, Yvan De Busscher

Extraction of minerals can be achieved by a variety of technologies; one of them is ion exchange. There are several ion exchange configurations and mechanical set-ups available, but only one technology will provide more process performance and flexibility compared to the other. The multiple column Continuous Countercurrent Ion Exchange (CCIX) technology provides the highest form of process flexibility with also the highest mineral recovery feasible through ion exchange. In comparison with a fixed bed system, the PuriTech CCIX system offers the benefits of continuous counter-current contact mode. This way the resin capacity is fully exploited leading to reduction in resin inventory and, at the same time, in chemicals and water consumption, and product dilution. For any set of operating conditions the mass transfer zone has a characteristic length (MTZL). The MTZL can be expressed in duration, column length, or volume, but is the measure of the quantity of resin in the system that is doing "work" at any given moment in the process. The objective of continuous ion exchange processing is to eliminate all resin volume from the process equipment that is not within a mass transfer zone. In most commercial ion exchange processes for the recovery of metals, CCIX engineering can eliminate as much as 20 - 80 % of the ion exchange resin inventory. Consumptions of water and chemicals are typically brought down around 40% or more. For each type of resin the selectivity/affinity towards a particular metal depends on the basic process conditions such as pH, concentrations of other competing metals in solution. By changing the pH in the ion exchange process phase, the selectivity of the resin can be changed. By doing this, a split elution, or extraction of metals separately can be achieved and the effect of other competing metals (cross-contamination) can be reduced. For example the DOW resin XUS43578 is commonly used for the recovery of copper or nickel/cobalt separation.

Jan 1, 2016

By J. Willan

This paper addresses the problem of designing a destress blasting procedure to reduce the incidence of rockbursting in hard rock mines. A review is made of the developed theory and practice of destress blasting in rockburst-prone ground. Specific reference is made to a recent survey of past and current practice with particular reference to Ontario mining operations. The need is identified for a more scientific basis for destress blast design and monitoring. Reference to developments in blasting technology as well as rock mechanics are then made to support a proposed, integrated design procedure and research strategy.

Jan 1, 1984

By D. Chetty

The characterization of platinum group minerals (PGMs) from concentrator flotation circuits provides valuable information towards understanding PGM recovery under given milling and flotation conditions. Additional mineralogical characterization also provides information on ore variability, which may affect recovery. Considering the low grades involved, automated scanning electron microscopy (SEM) characterization of PGMs has enabled relatively quick analyses, compared with older, time consuming and less accurate optical microscopy methods. Over the years, parameters, such as species, size distribution, liberation, gangue and base metal sulfide (BMS) associations, have been used to characterize the PGMs in a process mineralogical context, to aid metallurgical interpretation. This paper considers whether flotation indices determined for PGMs can be empirically validated, using initial results from analysis of PGMs in a concentrate bank from a South African concentrator treating UG2 ore from the western limb of the Bushveld Complex. The aim is to determine whether floatability is adequately described by these parameters, or whether other mineralogical factors must be considered when assessing PGM floatability, and hence accounting for recovery vs. losses to tails. The data obtained to date, show that flotation parameters (including liberation index, BMS/gangue relationships and size distribution) have merits where large changes in PGM concentration occur, as observed in the first four cells of the concentrate bank. Larger data sets, however, are required to assess floatability, particularly where concentrate cell grades are similar, as observed in the last six cells of the concentrate bank. Furthermore, the floatability indices could be enhanced by the incorporation of selected associated gangue mineral information, chief amongst these being the content and mode of occurrence of naturally floatable talc and associated orthopyroxene.

Jan 1, 2009

By A. D. Mukherjee, H. N. Bhattacharya

Middle Proterozoic sulphide ore mineralisation occurs in isolated blocks of the NE-SW trending Delhi fold belt composed of Delhi Supergroup rocks. The Ajari-Basantgarh-Pipela belt forms part of the longest, widest and westernmost tectonic unit of the Delhi fold belt and consists of amphibolites, metapelites, quartzites and carbonates. The metapelite lenses and associated amphibolites host pyritic copper mineralisation. Mineralisation takes the form of sheet-like bodies consisting of ore lenses of various sizes interlayered with host or associated rocks. Massive, banded and disseminated varieties of ore are found. Pyrite is dominant with subordinate chalcopyrite and sphalerite. Pyrrhotite, galena, cubanite, mackinawite, marcasite and freibergite constitute the minor minerals. The characteristic features of the ores suggest a possible correlation with Besshi-type deposits, and the closely associated amphibolites are interpreted as low-K tholeiites of a fore-arc setting

Jun 19, 1905