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By Douglas D. Donald

The financial analyst's job is to make an objective appraisal of the investment opportunities which exist within the various industries under his supervision within the context of the economic model provided by his firm and the a climate of investor sentiments. Industry analysis is critical. When a major investment trend develops, usually the stock of all companies within the specific industry react in the same direction. I should emphasize here, however, that an investment trend is influenced by the economic outlook, but economics is not the only determinant - investor psychology and arbitrary political factors may be of equal or greater importance. Part of our job is to recognize trends early and determine whether they are valid. Following industry analysis, the analyst must examine the specific companies within that industry since some companies usually react more violently than others to industry trends, whether they be favorable or adverse. To simplify the process of evaluating an investment opportunity, it is convenient to isolate three types of factors which have a bearing on every sort of business although the degree of influence of each factor may vary from industry to industry. These categories are, 1) independent or external factors insofar as they are beyond the control of corporate management, 2) interdependent factors insofar as influence may be exerted by industry-wide action, and 3) dependent factors covering the area of internal decisions which are basically under the control of the individual corporate managers. Although the title of this paper, "The Corporate Use of Cash Flow," is only one segment of the third category, it may be useful to continent on the first two categories as well. The independent factors may be either economic or governmental. The economic factors include cyclicality which may be very high in the case of the basic commodity industries or relatively low as in the case of utilities. Underlying growth rates, another independent factor, may range from the business equipment industry with an annual growth rate of 14% through the electric utility industry with a growth rate of about 7% per year to the

Jan 1, 1970

By Thomas F. Torries

It does not take sophisticated economic analysis to determine the current status of nickel production and demand (Figure 1). One only needs a quick glance at the balance sheets of the major nickel producers to learn that prices are down and profits are supressed to the point where they are major losses. Operations have been closed, and those remaining in production have reduced output. What Is now of interest Is, when will the nickel market improve and to what degree? The purpose of this paper is to attempt to answer these questions. This will be done by the normal method of projecting nickel demand, chosing a production scenario, and analyzing the results.

Jan 1, 1982

By R. B. Tippin

The material balance computer program (MAT-BAL) developed at the Minerals Resource Research Center of the University of Minnesota, has been used in conjunction with routine process profile samples taken in the potash compaction plant at Great Salt Lake Minerals and Chemicals Corporation, Ogden, Utah. In this manner, a uniform data base is being established for the process, and selected key indicators are used for decisions in plant operation and maintenance. With present emphasis on improving product quality and increasing production rates, the standard data base system provides a means of measuring results from test programs to optimize the circuit. The development and application of this process control method is discussed. The compaction plant computer-assisted data base has been in existence for only two years, but it has made significant contributions to the knowledge of the process and continues to assist in monitoring the plant performance. It is anticipated that the material balance program will be adapted to the GSL flotation plant in 1979, and to other circuits in the potassium sulfate chemical plant.

Jan 1, 1979

By James E. Jones

The coal mining industry is being called upon to vastly increase production in the coming years. Many mining operations will have to prepare an environmental impact report of some kind and all will have to comply with various types of environ- mental regulations. Therefore there is a great need within the industry for access to environmental data, information, and literature. This paper discusses the informational resources available, the current lack of access to these resources, and the Environmental Data, Information and Literature (EDIL) Bank of the Kentucky Institute for Mining and Minerals Research. The bank's major emphasis concerns the environmental, social and economic aspects of producing clean solid, liquid, and gaseous fuels from coal. The data bank promotes information interchange between other related governmental and private projects and the energy development community.

Jan 1, 1976

By Betty L. Gibbs

Microcomputers are becoming more convenient to use at all levels of the business world, including the mining industry and mine offices. The state of the mining industry requires that we become more productive and innovative in our analysis of deposits and operations. With the help of computers, examination of options to increase productivity can be performed quickly and inexpensively. Effective use of the computer for designing underground workings combines the calculation power and speed of a computer with the technical expertise and judgment of the engineer. Computer programs can perform calculations in minutes that could take an engineer several months. The engineer must be on guard when using the computer for any calculation because it is very easy to assume the results produced by a computer program are always correct. The computer is a sophisticated calculator but cannot recognize logical errors nor transposition of numbers. Also some intuitive or obvious decisions made by an engineer are difficult or impossible to program effectively.

Jan 1, 1987

By Norman F. Schulz

Representative sample s of typical manganiferous iron ores from the Cuyuna Range, Minnesota, were reduced to the metallic iron state at temperatures just short of fusion with an excess of coke in the manner prescribed by the R-N Direct Reduction Process. The magnetic separation characteristics of the reduced ores were determined at several grinds by means of the Davis magnetic tube concentrator. The efficiency of metallic iron concentration by magnetic separation was a direct function of the degree of metallization of the ore sample and of the degree of liberation attained in grinding. Some improvement of liberation characteristics was observed if a small amount of sodium chloride was present in the ore during reduction. Despite the extremely fine -grained structure of the crude ores, iron concentrates containing more than 90% Fe at iron unit recoveries of 90% or more were obtained from well-metallized samples of three of the four ores tested. The rejection of manganese to the tailings corresponding to such separations varied from 80 to 95%.

Jan 1, 1967

By Michael M. Kimberley

Stratiform uranium deposits occur in Canada along the north shore of Lake Huron near the base of the Middle Precambrian Huronian Supergroup. Outcrop of the Buronian Supergroup extends for over 400 km from Sault Ste. Marie in the west eastward through Sudbury and then northeastward to Cobalt. Maximum stratigraphic thickness exceeds 5 km. The predominant Huronian rock type is metamorphosed sandstone (quartzite), with sub- ordinate argillite, conglomerate, mixtite (possibly tillite), volcanic rocks, and minor limestone, Much of the quartzite is highly feldspathic. Substantial uranium ore was first discovered in Huronian rocks in 1953 and has been exploited continuously since the initial mine-mill plant was constructed at the Pronto ore body, 30 km south of the present townsite of Elliot Lake. Only one ore body remains in production, however. It is shared by Rio Algom and Denison Mines 14 km north of the town of Elliot Lake.

Jan 1, 1980

By A. S. C. Owili-eger

An efficient state-of-the-art dynamic model to simulate and predict the rate of water production in longwall coal mining operations was developed as a tool for mine planning purposes. The model can also provide an estimate of any potential resultant hydrogeological impacts of an operation via an array of element-specific single-valued parameters referred to as the field rating indices. The computational procedure was designed to fully exploit the benefits of hydrogeotechnology and utilize a combination of conceptual, physical, empirical, and numerical approaches to define, characterize, analyze, and evaluate flow con- trolling properties of fractured rock systems. The model presented here provides a dynamic prediction method for highly fractured flow; a practical tool in mine and water control planning; and a cost-effective means of assessing, based on the best available technology, the impacts of mining on the water resources within a mining environment to satisfy local and federal regulatory requirements. Unique features include consideration of laminar and non-darcian flow domains in double-porosity-pressure hydrogeological media.

Jan 1, 1987

By G. Plenge, M. Brittan

"Plant design parameters for gold extraction, leach residence time and cyanide consumption are generally determined from standard bench-scale bottle roll or agitation leach tests. The application of laboratory data to process design has essentially evolved from the testing of oxide or low cyanide-consuming ores. Such scale-up factors may not be appropriate for ores that deplete cyanide and oxygen since this interferes with gold extraction kinetics. High cyanide-consuming ores also exacerbate the differences between the conditions applicable to small batch tests and large continuous operations. Testing a reactive high-sulfide South American ore deposit necessitated the re-evaluation of conventional bench-scale cyanidation procedures. Pulp density can be a major factor affecting the results for plant design purposes and should be treated as a test work variable. As with high clay-bearing ore, where pulp viscosity can hinder mass transfer, minimizing the influence of test equipment on gold extraction kinetics may require low pulp densities. This introduces interpretative complexity since cyanide consumption changes as a function of pulp density. Activated carbon also consumes cyanide, so its effect has to be accounted for in the case of carbon-in-leach (CIL) or carbon-in-pulp (CIP) plant flowsheets. Since cyanide is an expensive reagent, often a major component of plant operating costs, it is important that the scale-up of cyanide consumption from laboratory to plant be representative. The traditional method of reporting cyanide consumption in bench-scale testing is questioned since it takes credit for residual free cyanide in leach tails. The projected plant consumption may be better estimated by using the total cyanide addition in a laboratory test. We propose a test work protocol that categorizes the cyanide consumption into its components but requires more extensive testing to generate design data. The ultimate validation of scale-up factors used by project engineers requires rigorous bench-scale versus commercial plant comparative data. Such data are not readily available.IntroductionMajor factors in the design of a gold processing plant are gold recovery, leach residence time and cyanide consumption. These parameters are important determinants of project revenue and costs and, thereby, potentially of project financial viability. Estimates of the associated design criteria for a commercial plant are normally generated from laboratory cyanidation, carbon-in-leach (CIL) or carbon-in-pulp (CIP) tests using standard procedures (Angove, 2005). The key question is whether the standard laboratory test work procedures developed historically for low reagent consuming ores are appropriate for ores that are highcyanide and oxygen consumers.The present paper examines test procedural factors that can influence the test work results and, therefore, their interpretation for design scale-up purposes. The study refers in particular to a high cyanide-consuming sulfide ore. The ore was being tested to develop scoping level engineering design criteria for a proposed project in South America."

Jan 1, 2015

By William J. Bryson

Just picture, if you will, the hot, lonely and desolate Ochre Mountains west of Salt Lake City. There works a grizzled old miner, his boots worn down, his clothes hang on a body stooped by years of hard labor. His skin is wrinkled and leather toughened by many years in the hot desert sun. His ever faithful burro stands patiently in the shade of a large rock as the tired old miner examines ore samples just acquired that very morning. Suddenly the old man's eyes widen, his breathing becomes rapid. 'Leaping to his feet, with a gleam in his eye, he cries, "Eureka, I'm rich, I've found the mother lode. This is where I will start my digging. " Without warning, the silent wilderness is alive with wild, shouting, charging figures! Frightened the old miner glances about him wide-eyed and pan- icky. His heart sinks, dismayed he now knows all is lost, this is the end. For there leaping from behind rocks and brush papers in hand, are the men from the Department of Interior, Bureau of Land Management, State Mine Inspectors, OSHA, MESA, EPA, OEO, and the never ending list of regulatory bodies related to todays mining industry.

Jan 1, 1975

By Sureshan K. Moothedath

This paper provides a mechanistic representation for floc formation, growth and degradation and presents results from an experimental study of batch flocculation in which step changes were made in the impeller speed, flocculant addition, and slurry concentration. A discussion of the experimental results is included in terms of the mechanisms of floc formation and size-change.

Jan 1, 1993

By Matthew Preedy, Brett Campbell, Jim Rush, Alan Howard, Derek Penrice

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, 2018

By S. Rajan

Familiarity with NEMA standards and the influence of the power supply on the motor-load system permits the user to make the necessary decision as to whether a standard or special motor is needed for his particular application. This paper highlights the more important aspects of NEMA standards for ac induction motors from the application engineer's standpoint and the effect of the power supply on motor characteristics.

Jan 1, 1975

By G. W. Rhodes, B. P. Cavan, F. K. Mussger

The New Austrian Tunneling Method (NATM) has been successfully applied to two very different tunneling projects in the U.S.. In the case of Pittsburgh's Mt. Lebanon Tunnels, two original design alternatives were prepared. The NATM alternative incorporating a reinforced shotcrete final lining was successfully bid and constructed. At Washington Metro's (WMATA) Section B-10 Glenmont Route, Wheaton Station and tunnels, a NATM value engineering redesign was prepared for the low bidder. The design incorporating a waterproofing system based on a PVC membrane between the initial and final linings was accepted by WMATA. In both cases, European experience and standards were meshed with U.S. standard practice. Examples of NATM flexibility as an original design and as a value engineering proposal are presented.

Jan 1, 1985

By J. J. Sense

The Mission Unit of American Smelting and 'Refining Company is located in Pima County, Arizona, approximately twenty miles southwest of the City of Tucson. The Unit consists of an open pit copper mine and concentrator. The concentrate is shipped by rail to Company Smelters at Hayden, Arizona, or El Paso, Texas Mine stripping began at Mission in the fall of 1959, and construction of the 15,000 tons per day concentrator gas started in the spring of 1960, The first ore was treated in mid summer of 1961 and full ore production was reached in August of 1961. At that time over 46,000,000 tons of material had been moved from the pit. Current production (ore and waste) averages over 100,000 tons per day. Total production to date (ore and waste) over 120,000,000 tons.

Jan 1, 1964

By L. R. Chirinos

The Tintaya mine of BHP Copper, located in Southern Peru, includes a copper oxide deposit hosted in a mineralized skarn zone. The ore contains large amounts of clays and high acid consuming species resulting in low heap leaching performance. A treatment scheme was proposed that included a wet screening separation. The coarse fraction would be treated by heap and the fines by agitation leaching. The dissolved copper would then be recovered through solvent extraction and electrowinning (SXEW). Testwork determined the optimum heap leaching conditions to treat the oxide in on/off pads of 3 meter height with an initial acid cure followed by variable acid strength during irrigation. The method resulted in a reduced acid consumption and good copper recoveries.

Jan 1, 1997

By Charles F. Stack

The A. P. Green Refractories Co. operates clay mines in ten states. Eight of these states have reclamation laws with which we have to comply and indications are that the U. S. Congress will pass a federal surface mining reclamation act in the near future. These regulations, in addition to the value of land in most areas, dictate that mining and reclamation be considered as a single operation. In many instances the land may be more valuable after properly planned mining and reclamation than before. Refractory clay, commonly called "fire clay" is defined as a siliceous clay rich in hydrous aluminum silicates, capable of withstanding high temperatures. It is deficient in iron, calcium, and alkalies and approaches kaolin on composition. Refractory clay is much more limited in occurrence and usage than common clay or shale. During 1971, common clays and shales were mined in 47 states with a total production of 45 million tons. Fire clay production was reported in 22 states with a total production of only slightly over 3 million tons.(1) Many of these producing areas are extremely limited in extent and production. Several are contained within a one or two county area. This reflects the unique geological conditions required for the formation or development of fire clay. The major fire clay producing areas in the United States are shown in Figure 1.

Jan 1, 1974

By W. Irwin

As a consequence of the oil crisis of the 70?s, the commercial value of coal increased very sharply and an upward trend in coal prices although now less pronounced, continues today. The graph shown in figure 1 illustrates the trend in the F.O.B. price of U.S. metallurgical coal. This trend occurs during a time when mechanized mining is firmly established as a means of production throughout the coal mining world. With modem methods of mining, mechanical cleaning is a necessity and quality control is no longer entirely dependant upon coal face practice. The efficiency of fine coal recovery is of vital economic importance to present day operations and good practice in this field contributes significantly to improving profitability. Numerous processes are available for the duty and this paper discusses one such system, namely the practice of froth flotation.

Jan 1, 1980

By R. B. Hawkins

The discovery of the gold deposits of the Jerritt Canyon district and the construction of the E. R. Bell Mine is one of the significant mining developments in the United States during the past ten years. This mine will exploit one of the larger deposits of disseminated gold presently known, with proven, recoverable reserves in excess of 67.6 million grams of gold. Interest generated by the success of this project has contributed greatly to the tremendous resurgence in exploration for disseminated gold deposits in Nevada and throughout the west. The Jerritt Canyon project, including the Bell Mine, is a 70/30 joint venture between Freeport Gold Company and FMC Gold Incorporated, both of which are wholly owned affiliates of the respective parent companies, Freeport-McMoRan, Inc. and FMC Incorporated. Under the terms of the joint venture agreement, Freeport Exploration Company, another Freeport-McMoRan affiliate, manages the exploration and pre-mine development. Drilling, design, construction and management of the Bell Mine are provided by Freeport Gold Company.

Jan 1, 1982

By Edward P. Larsen

At our annual meeting in St, Louis, Mo. in February 1961, we presented a comprehensive paper (No. 61-B-22) on the subject of "Blending and Handling of Materials for Agglomeration". In that paper you will find a discussion on the difference between "blending" and "mixing". With regard to "blending" we brought out the facts of its usefulness for the preparation o materials in an agglomerated mass to attain controlled chemical and physical uniformity. "Mixing" was discredited as not being useful for the attainment of uniformity of any kind.

Jan 1, 1962