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"How Wall Street Darling Molycorp Undermined the U.S. Economy, Degraded our National Security and Distorted the Global Economic Balance and How These Falsehoods Continue to be Promoted Even Today INTRODUCTION & SUMMARY In 2007 the Molycorp Mountain Pass rare earth mine was resurrected from its desert-grave in California by its then-owner Chevron Mining. Responding to elevated rare earth prices Chevron began processing on-site rare earth concentrates left over from past mining operations that were terminated in 1998i. Chinese demand had sparked what was being described as a commodities super-cycleii. Commodity prices were on the move. Wall Street smelled opportunity. In 2008 Goldman Sachs, Pegasus Partners, Resource Capital Funds, Traxys North America LLC and Carint Group LLC acquired the mining assets from Chevron. In an environment of ever-declining ethical standards and regulatory consequences the private capital group and their investment bankers would bring Molycorp to market. Molycorp, with its high powered investment banking team of Morgan Stanley and J.P. Morganiii, easily dominated the contest. Molycorp promoted itself, largely based on its past operating history and proven reserves, as the best company to challenge China’s monopoly control over the production of rare earths: a group of elements critical to most advanced technologies and U.S. defense systemsiv. Most of Wall Street’s hottest investment sectors were dependent on these materials: alternative energy, green technologies, computing, personal communications, advanced electronics and defense systems. By late 2010 there were dozens of prospective rare earth start-up ‘mining companies’ seeking capital. Eventually the number of prospective rare earth mining companies seeking capital exceeded 400, despite the reality that supply requirements of this market were disproportionally small when compared to other natural resource sectorsv. In the world of finance ‘smart money’ picks the winners. Consequently just twovi projects attracted nearly all of the capital (Molycorp and Lynas). Wall street picked Molycorpvii. This paper will primarily focus on Molycorp. By early 2010 the words “Molycorp” and “Rare Earths” electrified many people in the mining industry, most non-Chinese manufacturing technology companies, U.S. & allied defense contractors, technocrats in the U.S. national security community and eager investors across most of the world’s stock markets. It was the hottest story of the yearviii. The financial, technology and defense press coverage verged on euphoric: heaping fuel on fuel until the highly combustible Molycorp-pyre cast a long shadow over all of its rivalsix. When the IPO match was lit the spectacular flaming pyre sucked all of the oxygen out of the rare earth spacex. Molycorp was ranked the most lucrative IPO of 2010, resulting in record breaking profits to its private investors and massive returns for its early stock holding investors."

Jan 1, 2017

By A. Raja, C. C. Harris

Apparatus for maintaining constant — but adjustable — pulp level and rate of froth removal are described. The results of preliminary experiments into the effect of scraping speed on the rate of solid and liquid recovery with a semi-batch system are presented. Glass spheres restricted to a narrow size range is the solid under investigation. Graphical methods for estimating the mass of recoverable material and the zero error are given. The semi-batch procedure1 is extensively used in laboratory flotation testing, though the method is subject to variability of moderate severity. Raffinot2 concluded from a statistical study of the difference between replicate tests, that the ptincipal source of errot was the test itself and not sampling or chemical analysis. These differences can be ascribed principally to changes in pulp volume and reagent concentration, and uncontrolled rate and depth of scraping. Semi-batch testing has been criticized1 on these grounds as a means of investigating flotation kinetics. This paper discusses and describes modifications to laboratory flotation equipment which reduce the number of manual operations and lead to improved control. Kinetic studies were the primary reason for developing the apparatus described. It should, however be a useful aid in normal flotation testing. Some preliminary results of experiments are presented.

Jan 1, 1967

By J Youngson

Gold placers can be difficult to locate in areas where tectonic activity and paleogeography have changed significantly since placer formation. Existing placer exploration models are useful in areas that have a relatively simple geological history, identifiable relationships with parent sources, or a history of placer mining. However, exploration becomes increasingly difficult in areas where tectonic activity and sedimentary recycling repeatedly redistribute the gold. Gold placers in the Waitaki River catchment, North Otago, New Zealand have no primary source within the catchment. During the Eocene placer gold was transported by a river ('Buster River') that flowed in a northeast direction from Central Otago toward a coastline at Maerewhenua, North Otago. This river and coastal system was inundated by marine transgression during the middle Tertiary. Since the Miocene its placer deposits have been uplifted and eroded and any links with parent sources have been severed. Changes in paleogeography resulted in local reconcentration and local dilution of placer gold in different areas in the Waitaki catchment. Thin veneers of old Waitaki River gravels (Kurow Gravels), containing gold recycled from the older placers, have been deposited unconformably on strath surfaces cut into Tertiary or older rocks. These gravels along with remnant Eocene fluvial and shallow marine strata provide potential placer exploration targets. Uplift and erosion of non-auriferous rocks in the Waitaki catchment to the west and north of the study area has resulted in considerable dilution of potential placer deposits downstream, especially in areas of gravel aggradation. We present a placer exploration model that is founded on answering fundamental questions pertaining to the paleogeography and geological history of the sediments associated with the placers.

Jan 1, 1999

By Kennedy G. L

Operating experience with the pilot Lurgi carbonization plant at Morwell showed that under conventional operating conditions, although the thermal efficiency of the plant was very' high, the physical quality of the char produced was extremely poor. By variation of operating conditions to produce the slow drying rate developed by the laboratory research at the University of Melbourne, an improvement in the size of the char was achieved. A similar approach in the carbonization stage where severe breakage of the briquettes still occurred was not possible due to insufficient control over the heating in this stage. Theoretical analysis of the heat exchange process has shown that severe heating of the briquettes entering the carbonizer is a characteristic of the Lurgi system and cannot be controlled by modified operation. The plant has been closed down for reconstruction of the heating system to enable it to be used to produce hard char.INTRODUCTIONAn experimental carbonization plant was operated at the Morwell Works of the 'Gas and Fuel Corporation from November 1958 until July 1959. This plant was built as a pilot plant by the Corporation to designs supplied by the Lurgi Gesellschaft fur Warmetechnik and had the nominal capacity to carbonize 25 tons of brown coal briquettes and to produce 11 tons of char per day. The briquettes were supplied from the· normal production of the Yallourn briquette factory and the 2t in. I-type briquette was the largest size which the plant could handle.This carbonization plant represents the intermediate stage of development between the laboratory research at the University of Melbourne and the commercial production of hard char as a metallurgical fuel. It is intended in the first place for the study of the technical problems in the handling and...

Jan 1, 1960

The main orebody of the Bodangora mine is a metalliferous quartz reef within a major fault plane in the strongly folded and faulted volcanic rocks of the Ordovician-Silurian Oakdale Formation. The similarity of the type of mineralization to that of other pyrometasomatic deposits in this area suggests that the mineralizing fluids originated in the nearby Wuuluman Granite.The associated Mitchell's Creek West or Dick's reef is discussed briefly.

Jan 1, 1970

By Kush Patel, Gary Cavanough

Mining operations consume over 2.5 Billion Australian dollars’ worth of bulk explosives annually (Richardson, 2018). Despite the large volume of product used, current practices only conduct a cup density test of the product being used. Explosive products are made up of a number of components, each with an effect on the performance of the explosive. This paper presents methods currently available for the evaluation of bulk explosives and discusses the results of the evaluation of bulk explosives using each of the methods. Through the preliminary experimental analysis, wet chemistry and the Bulk Explosive Analyser were found as methods most suitable for the evaluation of bulk explosives. This paper also presents data obtained from the experimental comparison of the wet chemistry method and the Bulk Explosive Analyser. Through a total of 60 tests carried out on 10 different bulk explosive products the average error of each method was determined, the BEA presented an average error of 0.11%, whereas, the wet chemistry method presented an average error of 1.90%. This is a significant difference when considering the importance of formulation of explosives. Further investigation into the capabilities of the BEA are also presented in this paper.

Effect of Activated Carbon on the Leaching of Cobalt-Rich Ferromanganese Crust in Sulfuric Acid

Sep 13, 2010

By D Craw, P Whigham, C Rufaut

Geographic Information Systems (GIS) are computerised management systems for spatial data, offering improved data management, extensive data manipulation techniques and greater understanding of data. At the Wangaloa Coal Mine, South-East Otago, ArcGIS is being used to manage, integrate, analyse and visualise the diverse range of datasets being generated from an interdisciplinary research team. GIS will assist with identifying spatial and temporal patterns associated with the current site rehabilitation strategy. This paper will present an overview of how GIS can be a useful tool for understanding ecological recovery during mine site rehabilitation.   The Wangaloa opencast coal mine, owned by Solid Energy NZ Ltd, was closed in 1989 after more than 40 years of operation. Rehabilitation efforts involving more than 60 000 native plants began in October 2001. At Wangaloa sample points were randomly selected at 100 m intervals and recorded using a differential GPS. Plant, soil and invertebrate data have been collected at each sample point. Plots of 8 - 9 plants have been established within approximately 5 m of each sample point. Since September 2003 seasonal monitoring of plant growth and survival has been carried out. Chemical and physical datasets have been generated from soil collected in June and December 2003 for each sample point. A more restricted dataset is being generated for soil collected on a seasonal basis from March 2004. Plant and soil characteristics from these datasets have been attached to each sample point and GIS layers have been created. Relationships between data layers can be explored based on their spatial patterns. Examples presented from Wangaloa include distribution of planting success and temporal variation; temporal change in pH; interpolated pH map; digital elevation model; relationships between planting success and growth with pH and organic matter. GIS is proving to be a valuable tool on the integrated project at Wangaloa.

Jan 1, 2004

Nowadays, technology has improved to extract dimensional stone blocks at quarry sites and also to process these at processing plants for making slabs and tiles. In the process of quarrying and processing, performance evaluation of machinery is very important to achieve optimum output at minimum cost with improved technology. Cost analysis of improved technology includes parameters such as manpower, energy consumption, tool consumption, depreciation, maintenance and also others. The chainsaw machine with long boom and rail in marble quarries and multi-diamond wire saw machine for slab making from granite blocks at processing plants have recently been introduced in India. Thus, a study was carried out under a research project on these machines to assess their suitability. In this paper, performance evaluation and cost analysis of chainsaw and multi-diamond wire saw have been carried out with existing machines on the basis of research findings.

Dec 6, 2010

By A. Mahmoudkhani

Primary cementing is the process of placing cement in the annulus between the casing and the formations exposed to the wellbore. Portland cement was first used in 1903 in the Lopoc Field in California for well cementing. Since then, the major objective of primary cementing has always been to provide zonal isolation in oil, gas and water wells, i.e. to exclude fluid(s) in one zone from another zone in the well. To achieve this objective a hydraulic seal must be created between the casing and cement and between the cement and the formations, while at the same time preventing fluid channels in the cement sheath. This requirement makes primary cementing the most important operation performed on a well. Without complete isolation in the wellbore, the well may never reach its full producing potential. The industry knowledge on cements relies heavily on empirical data, but the chemistry, physics and structure of cement are not fully understood yet. The strength of concrete can be increased essentially by reducing its porosity through optimizing the size distribution of its components and filling the residual porosity of the hydrated cement phase with inorganic fillers. This approach has successfully utilized in different ways and several technologies for placing high performance oil and gas well cements have been developed over the last few decades. There are reasons to believe that the next source of improvement will lie in the fine-tuning of the hydrates themselves and of the different parameters that drive short (ionic?covalent bonding) and long (ionic correlation) interactions.

Jan 1, 2012

By Antti J. Perala, Teemu J. Yli-Kovero

"Efficient use of land is constantly requiring more underground construction. Minimized execution time and disturbance to surroundings and nearby structures are essential benefits for all construction techniques. To meet the demands of a modern construction project, suppliers have to be able to provide high-quality and tailor-made products just on time. RD pile wall is a retaining wall based on drilled steel pipe piles which are connected to each other with special interlocking profiles. RD pile wall is a solution which enables penetration of overburden soil, dense fill layers including stones and boulders, and embedding into the bedrock in one single operation. Several test installations and laboratory tests have been made to develop the system and to test and improve the water tightness of the wall. Beside these tests, RD pile wall has also proven its reliability in almost 70 projects. Largest project so far has been Pasila Tripla project in Helsinki, Finland. A permanent retaining wall with surface area of 18,000 m2 (193,750 ft2), excavation depth of 21 m (68 ft) and over 17 m (56 ft) of water pressure was made with 711 mm (28”) and 406.4 mm (16”) pile sizes. Piles were delivered to site in one piece with lengths up to 33.5 m (110 ft).INTRODUCTIONExcavations in cramped city centers and in between of existing buildings and other structures are facing more and more challenges. Installation of sheet pile walls is often problematic or even impossible due to obstacles in ground from old structures and due to demand to extend the excavations to even deeper and harder soil layers. Also installations of secant pile walls are facing difficulties due to cramped construction sites and constantly tightening execution times.On the other hand, an efficient and reliable piling technique suitable for the demanding soil conditions described above, percussion drilling, has been developed since the 1960’s, and especially from the mid- 1990’s, when the concentric drilling method with the ring bit and pilot was introduced. A new retaining wall application, the RD pile wall, was developed by combining that drilling method with the widely used retaining wall solution based on steel pipe piles and welded interlocks (a pipe pile wall normally installed with vibratory or impact hammers).PRINCIPLE AND MAIN BENEFITS OF THE METHODRD pile walls can be used in all soil conditions. Most beneficial the system is in extremely demanding soil conditions where the installation of traditional retaining walls is challenging or even impossible. The RD pile wall is a combination of drilled steel pipe piles and interlocking sections as shown in Fig. 1.Individual RD piles are connected to each other with interlocks welded to the piles on the automated welding line at the workshop. The matching dimensions of the drilling system and interlocking sections allow the installation of RD piles through stones and boulders and even into the bedrock, if necessary, in a single operation. Installation is done by a down-the-hole (DTH) hammer using the centric drilling system and oversized ring bits or a drilling system consisting of a pilot bit and reamer wings shown in Fig. 2."

Jan 1, 2017

By Steve Wilson, Bern Klein, Jeff Drozdiak, Stefan Nadolski, Andrew Bamber

"In the adaptation of high pressure grinding rolls (HPGRs) to hard-rock mining applications, circuit development has mainly focused on placing HPGRs in the role of tertiary crusher in the preparation of ball mill feed. In order to take advantage of the potential energy benefits associated with HPGR and stirred mill grinding technologies, work was done to investigate the potential of and resultant energy benefits of placing the HPGR in series with a high speed stirred mill in replacement of the conventional cone crusher / ball mill arrangement. The proposed circuit was designed to operate with two stages of HPGR grinding followed by high speed stirred milling.Using a pilot-scale HPGR unit inline with a 20 liter stirred mill, the design criteria, circuit arrangement and consequent comminution energy requirements for a circuit processing copper sulphide ore from Teck Resources’s Mesaba Copper project were determined. These results were then compared to two other circuits, an HPGR / ball mill circuit and a conventional crusher / ball mill circuit processing the same ore.The testwork indicated at a proof-of-concept level that the HPGR / stirred mill circuit could potentially be appropriate for this duty and further work on the concept is merited. While the results indicate that the HPGR component of the circuit was more energy efficient than conventional cone crushing, the energy efficiency of the stirred mill was found to be lower than that of a comparable ball mill undertaking the same duty. However, increased energy efficiency of the stirred mill portion of the circuit is possible with further optimization and further work on the concept is indicated."

Jan 1, 2010

By Richard Campbell

Effective strata control, utilising fully encapsulated resin grouted roof bolts is dependent on the installed quality of the reinforcement elements. Resin based grouts are the main form of rock bolt anchorage in the underground coal industry in Australia and New Zealand. To be effective the system requires the mixing of the catalyst and mastic components of the resin as well as shredding of the cartridge that contains the resin. Over the past six years Solid Energy New Zealand Ltd (SENZ) has pioneered an extensive work programme quantifying the effects and extent of poor installation quality due to gloving, poor mixing and loss of encapsulation (Pastars 2003, Campbell et al 2003, Mould et al 2004, Campbell et al 2005 and Pastars & MacGregor, 2005). The One-Step Bolt (OSB), an innovative bolting solution designed and manufactured by Hilti Pty Ltd offers a self drilling, single pass bolting method that eliminates gloving, guarantees mixing quality and encapsulation performance of the installed product while not jeopardising the mechanical performance of the bolt. This paper details recent work undertaken by SENZ designed to understand and quantify the system performance of the Hilti OSB in New Zealand?s thick coal seam mining environments.

Jan 1, 2006

By Fernando Bermejo

La compañía minera Raura ha desarrollado una política ambiental donde se busca el cumplimiento de la normativa ambiental a través del uso de la tecnología que comprende los principios establecidos dentro del diseño racional de procesos limpios. En este sentido, el presente trabajo señala las ventajas del uso del diseño del método HERBER, el cual consiste en una adsorción de los iones cromatos en la superficie de la pirita en el circuito de remolienda medios. Asimismo, este no requiere de un pretratamiento condicional, no afecta la recuperación del zinc, mejora el grado del concentrado y la concentración de iones cromatos después del tratamiento está por debajo del límite permisible establecido por el Reglamento de la Ley General de Aguas.

Oct 6, 1999

By Andrew K. Simpson

What will this deal do to the company’s stock price? This question arises when a publicly traded mining company is presented with a new mine project, or business combination. The standard tool for addressing this question is to use discounted cash flow analysis, or net asset value(NAV), which is discounted cash flow net of liabilities. Cash flow-based analysis is invaluable for assessing project costs and other impacts on debt service capacity and internal rates of return. But cash flow analysis and NAV do not work very well for stock price analysis.

Jan 1, 2000

The solvent extraction section of an old Uranium Plant in the Vaal River region (North West Province in South Africa) produced a substance called CRUD (Chalk River Unidentified Deposit) that formed within the aqueous/organic interface of the settler of the solvent extraction circuit. The CRUD was deposited together with gold tailings to the tailings dam many years ago. Previous research done on the CRUD confirmed that exposed CRUD leaches Mn and Ni at concentrations that are well above their acceptable risk limits as well as Zn that leaches at concentrations that are slightly lower than its acceptable risk limit. Soil washing and bioremediation technologies were employed to treat the contaminated soil.   Various laboratory test work and the pilot scale studies were conducted in parallel with each other and the results of the laboratory studies were used to determine critical parameters. Four lixiviants, ie sulfuric acid, acetic acid, oxalic acid and ethylene diamine acetic acid were tested at three concentration levels ie 0.001 M, 0.0001 M and 0.00001 M, respectively. Column tests showed that the leaching of the heavy metals increases as the soil porosity increases. Silica sand was added to increase porosity of the contaminated soil. Highest Mn removal was achieved mainly by sulfuric and oxalic acid at 0.001M at all soil levels. EDTA was significantly efficient in the removal of Ni and Zn. The recovery of heavy metals, particularly Mn, decreased as the depth of sampling increased.   Heterogeneous bacteria and filamentous organism plate counts were conducted to evaluate the growth of the bacteria and filamentous organisms in the soil. Results showed that more organism growth took place in the bioremediated soil with a fertilizer added to it. The leaching of metals from the soil that was bioremediated in the pilot study was generally higher than the extraction of the metals from the soil that was leached with no bioremediation carried out. The results from this study suggest that the leaching of heavy metals from the contaminated soil is to a large extent dependant on the pH of the leaching solution. By increasing the soil's porosity and bioremediating the soil, higher extractions of metals were achieved.

Jun 1, 2010

By L. A. Neumeier

The Bureau of Mines evaluated creep properties of Zn-Cu-Ti alloys that were annealed after finish-rolling either cold) or at 480° F (249° C). Compositions ranged up to 1.25 pct Cu and 0.36 pct Ti. Most data are for sheet annealed after finish-rolling to 92-pct total reduction. Annealing times were varied at temperatures between 320° and 560° F (160° and 293° C). For a number of the alloys, annealing after hot-rolling at 480° F affects creep properties very differently in longitudinal and transverse sheet directions. The detrimental result is that the anisotropy in creep properties between the two directions can be vastly increased. Conversely, specific annealing treatments of certain heavily cold-rolled alloys result in surprisingly low anisotropy in creep properties and the low anisotropy coincides with excellent creep resistance for both directions. Supplemental data are presented on tensile, hardness, and thermal expansion properties, and microstructures.

Jan 1, 1972

By Ron Glowe

This paper shows the potential of a new computer model, using the Glowe-Tech (GT) Tonnage Analyzer program to compare drilling and blasting results. This model uses the crushers and conveyors as measuring tools in aggregate quarries in the USA and Canada. All data is collected using commercially available kilowatt transducers and an analog input/output automation module. There are two areas of measurement used to compare results. The first area is the tonnage moved by key conveyors to show the split in products produced and the actual rate of production. If belt scale readings are not available then the Glowe-Tech Tonnage Analyzer can be used to convert kilowatts from the conveyor motor to tonnage. The second is the tons of rock crushed per kilowatt hour of energy consumption by the primary and secondary (optional) crushers. This modeling process works best if blasts are mucked and crushed in sequence. There are many other variables such as crusher types, crusher settings, screen sizing and actual geology in the pit that can influence the results, however if variables can be standardized then definite trends can be seen when comparing drilling and blasting results

Jan 1, 2005

By D Davies

El presente texto describe la situación del medio ambiente donde se eliminaron residuos de explotación minera, así como se revisa la legislación, el caso del desastre de Aberfan, precaución a raíz del desastre de Aberfan, seguridad, requerimiento de la junta nacional del carbón, las consecuencias financieras, la minería a cielo abierto, los problemas de las aguas, técnicas de control, las sustancias contaminadoras dentro de los afluentes de las minas de carbóny los efectos de la conservación de los ríos en el Reino Unido de la Gran Bretaña.

Jul 1, 1981

By Thomas C. Wilder

Jan 1, 1965