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By Júlio C. Lúcio

Consider the case of a mining company with N investment opportunities in projects of different commodities. The problem is: since the company has limitation of capital, equipments, technical staffs, etc, what is the best portfolio of production projects in order to maximize expectations from shareholders? In the no-longer past, the traditional method for the selection of portfolio of projects was the rank-an-cut method. But, this does not properly account for the risk to which the company is exposed. The Markowitz?s Mean-Variance is an advance because the risk of the NPV can be estimated at the level of the company or even division of the corporation. The final product of the Markowitz?s model is the efficient frontier, in which, the manager can clearly understand the maximum return from existing assets and the associated risk level - but this model does not recommend which one is the best portfolio. In this paper we present a model to select the best portfolio considering not only economic indicators, but also requirements of production, constraint in investments, etc. We show that if investors are diversified, managers should select projects with highest return, regardless of risk. However, in practice, if bonuses of managers are tied to their performance, the choice for portfolio with lower return and risk can happen. Numerical application considering typical portfolio of large mining company is used as example.

May 1, 2009

By José J. Suárez

Abstract: Globally, the mining industry is expected to face the following challenges through 2020: 1. Sustaining growth amidst fierce competition 2. Containing cost increases and managing through the cycle 3. Attracting and retaining talent 4. Managing environmental concerns and improving sustainability 5. Managing volatility risks in commodity markets Our experience and research reveals that the higher performing global miners are adopting many of the following strategies: (1) Adopt a Global, Agile Operating Model (2) Be the Developer of Choice (3) Drive Capital Efficiency (4) Be the Employer of Choice (5) Integrate the End-to-End Business Model (6) Move to the Virtual Mining Value Chain This paper/presentation will provide data obtained through research on five (5) challenges facing the mining industry, and on the six (6) strategies that high performing global miners are adopting.

May 1, 2013

By Mauro Chiesa

A. New Dictionary, Since 2007/8 Traditional concept of ?cycle? is dead A dearth of projects AND good metal prices suggests otherwise In a depletion-business, good times for any greenfields in 2-3 yrs! ?Balance? sheet means quality assets = quality capital So, de-risk the assets, and ration the capital ?Replacement costs > historical costs ?Discounted assets depleting; replacement costs need self-financing (FCF) ?Public-sector slows permits, avoids assets and wants more of FCF ?Capital ?markets? are now ?market fragments? ..and? ??Shareholder? has changed from ?growth? to ?income + performance? ?Higher search costs, higher capital costs and higher cost of capital

May 1, 2013

By J. D. Nye, I. A. Farr, W. J. D. Stone

"A unique deposit of barite exists near Brookfield, Nova Scotia. The crystals are extremely fine and the whole deposit virtually free of heavy metals. The deposit size was not large enough for conventional uses, such as the production of barium carbonate and drilling mud. In an effort to obtain maximum utilization, a program was begun to determine if U.S.P.-grade pharmaceutical barium sulphate for X-ray diagnosis could be produced. Early work was sufficiently encouraging to institute a development program under the federal Program for Advancement of Industrial Technology. This has been very successfully completed. Canadian and U.S. process patents have been issued, clinical trials have been successful, a production plant has been designed and the plant’s production sold. The processing plant will include magnetic separation for the removal of iron minerals, fine grinding by paddle milling to minus one micron and acid leaching. The process is unique in that at no time is the barium taken into solution.Information is given on the deposit, process, markets, use, plant capital and operating costs, and projected profits. The initial production plant will have an annual capacity of 2,000 tons per year of end product. Capital cost is $850,000 and annual turnover more than $1.5 million. As this capacity only represents approximately 15% of the North American market, rapid plant expansion is foreseen."

Jan 1, 1980

By T. Hadley, E. Catovic

"Northern Minerals Limited’s (ASX: NTU) flagship project is the Browns Range Rare Earth Project (the Project) located in Western Australia, consisting of a number of deposits with high value, heavy rare earth elements, in particular yttrium, terbium, and dysprosium. The deposits are dominated by xenotime mineralisation, which occurs within hydrothermal silicified and hematitic breccias. The Company delivered an initial JORC compliant resource estimate for the Project at the end of 2012 of 10,500 t of contained total rare earth oxides (TREO), which was increased to 28,084t of contained TREO in October 2013 and further enlarged to 47,997 t of contained TREO in February 2014. Concurrent with the growth of the Project resource base, significant progress has been made in developing the metallurgical process for the beneficiation and extraction of rare earth elements (REE’s) from the xenotime mineralisation. Development of the beneficiation circuit evaluated several process options and selected whole-ore flotation and magnetic separation, followed by flotation (hybrid circuit) as the two preferred flowsheets to pilot, following encouraging results on the bench of 83% and 86% recovery to a 20% TREO mineral concentrate respectively. Several downstream hydrometallurgical extraction flowsheets were evaluated. However, the following two preferred process flowsheets were ultimately selected for further detailed investigation during the prefeasibility study: 1. Sulphation bake, water leach, purification, oxalate precipitation, and/or calcination to produce a mixed RE oxide; 2. Sulphation bake, water leach, phosphate precipitation, caustic conversion, HCl leach, and oxalate precipitation to produce a mixed RE oxalate. Excellent heavy rare earth oxide (HREO) extractions (~ 90%) from beneficiation concentrates were achieved on the bench for both circuits, however flowsheet 1 was ultimately selected as the preferred flowsheet to pilot due to lower capital and operating cost. A mixed rare earth oxalate (42% TREO) or oxide (92% TREO) can be produced with low levels of Th and U of 3 ppm and 6 ppm respectively."

Jan 1, 2014

By Lee Nichols

Convergent Bitumen Recovery Context of discussion It should be noted that the CBR process is a conceptual bitumen recovery feed methodology, designed to provide supplemental bitumen to the oil sand operations of Northern Alberta. To date the following have beencompleted. ?Bench Scale testing. ?Peer group brainstorming. ?Energy Balance ?Confidentiality agreements have been signed with several companies Discussions are ongoing with industry and although conceptual atthis stage the process holds significant promise.

May 1, 2007

By Seong-Taek Lim

Recently, 7xxx aluminum alloys have been evolved into new variants for thick semiproducts which have low amount of 2nd phases and low quench sensitivity. Commercial 7xxx alloys, especially in the thick forgings made of big ingots, often entail microstructural inhomogeneities and concurrent poor mechanical properties due to limited heating ranges and slower quench cooling. In this study, high strength aluminum alloy 7175 and 7050 are adjusted as an attempt to control the equilibrium phases (M-, T- and S-phase) to have optimum microstructure for the thick forging applications. The effects of the relative content of (Zn, Mg, Cu) on the evolutions of the coarse equilibrium phases, hardening response and resultant mechanical properties are investigated. Equilibrium phases (M,T,S) are evolved depending on the constitutional effect, primarily the change of Zn:Mg ratio, and cooling rate following solutionizing. The formation of the T- and S-phases is effectively controlled, and M-phases are homogeneously precipitated in the adjusted (dilute and high Zn:Mg ratio) alloys. It provides extended heating range and lower quench sensitivity than conventional alloys. The attempts ensure the microstructural homogeneity and improved properties, and is expected to be uniquely applicable in 7xxx thick forgings.

Jan 1, 2004

By S. G. Shabestari, S. Saeidinia, P. Mokarian

"The experiments were conducted to investigate the influence of various process parameters in rotary degassing of aluminum alloy AS5U3G. Degassing was carried out by use of argon inert gas. The flow rate of the gas was investigated in the range of 12 to 21 L/min., 350 to 500 rpm rotor speed, 6 to 12 minutes degassing time, and 755°C to 780°C melt temperature. Degassing efficiency was evaluated through measuring the density of RPT samples. By optimizing the process parameters, RPT sample density was increased up to 2.73 g/cm3, which guaranties the production of high-quality aluminum castings. Tensile strength and elongation were increased considerably by degassing process. Scanning electron microscopy (SEM) shows small size and well-distributed microporosity. IntroductionOne of the major problems associated with the casting of aluminum alloys is the formation of gas porosity. Aluminum and its alloys are very susceptible to hydrogen absorption. Because solubility is much lower in solid state than liquid state, hydrogen atoms leave their position during solidification and combine together to form hydrogen molecules. These micrometer- scale cavities, called microporosity, cause the reduction of mechanical properties, particularly strength, ductility, fracture toughness, fatigue resistance, pressure tightness, and corrosion resistance (Laslaz, 1991; Jorstad and Rasmussen, 1993; Sigworth and Wang, 1994; Korasani, 1996; Anson and Gruzleski, 1999; Zhang et al., 2000). To avoid these problems and produce good quality castings, it is necessary to remove hydrogen from the melt. Several methods are available for degassing aluminum melt. One of them is a rotary degassing system using inert gas, e.g. Ar or N2. Various thermodynamic and kinetic factors govern the removal of hydrogen from molten aluminum (Anderson, 1987; Sigworth, 1987; Pignault, 1993; King and Reynolds, 1995). These are some parameters that affect degassing efficiency. Some of them are discussed here and some are examined in this project."

Jan 1, 2004

By Terry A. Kirk

"This paper describes Derrick High Frequency Vibrating Screens and their process performance in grinding circuit applications. The benefits of screen sizing in closed circuit grinding are illustrated by case histories from a wide spectrum of mineral industries.INTRODUCTIONHigh capacity, reliable wet screening equipment is increasingly in demand by the mining and allied industries for separations finer than 1/.7 5mm (I/ mesh). The continuing search for improved energy efficiency and reduced steel consumption in comminution has Jed to greater scrutiny of every aspect of circuit design and operation, including the classifier efficiency (selectivity) function.Derrick Manufacturing Corporation has been developing high frequency screening machines designed specifically for grinding circuit applications since 1973. Successful installations are currently operating in iron ore, copper, coal, uranium, phosphate and other extractive industries."

Jan 1, 1984

By John Stubbs

Sub-Surface Shaft excavation Mine development Headframes Surface Production facilities Product storage and loading Tailings area Infrastructure Discovery Lodge Utilities Operations complex Port Marine loading Rail unloading and storage

May 1, 2013

By G. Chi, A. Solomon, J. Lai

"The Buffalo gold deposit is a small deposit consisting of auriferous quartz-tourmaline veins within a granodiorite stock in the Red Lake greenstone belt. This study aims to characterize the mineralizing fluids through fluid inclusion and stable isotope analyses and to compare them with those of the world-class Campbell- Red Lake deposit. Four types of fluid inclusions were recognized, including carbonic, aqueous-carbonic, aqueous, and halite-bearing aqueous, with the carbonic type being the most abundant. Raman analyses indicate that the carbonic phase mainly consists of CO2, with minor amounts of N2 and CH4, and rarely detectable H2S. The homogenization temperatures of the carbonic inclusions range from -41.7° to 30.9°C. The homogenization temperatures and salinities of the aqueous, halite-bearing aqueous, and aqueous-carbonic inclusions are 130° to 276°C and 9.7 to 23.6 wt.% NaCl equiv., 155° to 207°C and 32.9 to 42.3 wt.% NaCl equiv., and 215° to 357°C and 8.3 to 19.7 wt.% NaCl equiv., respectively. The d18OVSMOW values of tourmaline range from 8.2‰ to 9.0‰, and those of quartz from 11.4‰ to 11.9‰, with estimated fluid temperatures from 323° to 399°C based on the quartz-tourmaline isotopic geothermometer. It is postulated that separate CO2-dominated and aqueous fluids intermittently invaded the fracture/vein system in response to fluid pressure fluctuations, with limited mixing. The CO2-dominated fluid, previously recognized in Campbell-Red Lake as the main mineralizing fluid, is inferred to have been derived from deeper parts of the crust. This deep CO2-dominated fluid reservoir might have been a common source for gold mineralization in the Red Lake greenstone belt. Le gîte aurifère Buffalo est un petit dépôt composée de veines de quartz-tourmaline à l’intérieur d’un stock de granodiorite dans la ceinture de roches vertes de Red Lake. Cette étude vise à caractériser les fluides impliqués dans la minéralisation par les inclusions fluides et par les isotopes stables ainsi que de les comparer avec ceux du gîte de classe mondiale de Campbell-Red Lake. Quatre types d’inclusions ont été notes, incluant des inclusions carboniques, aqueuses-carboniques, aqueuses et aqueuses avec halite, les inclusions carboniques étant la variété la plus abondante. Les analyses par spectroscopie Raman indiquent que la phase carbonique consiste principalement en CO2, avec des quantités mineures de N2 et de CH4, et rarement avec des quantités mesurables de H2S. Les températures d’homogénéisation des inclusions carboniques vont de -41.7° to 30.9°C. Les températures d’homogénéisation et les salinités des inclusions aqueuses, aqueuses avec halite et aqueuses-carboniques sont varient de 130° à 276°C et de 9.7 à 23.6 poids.% NaCl équiv., 155° à 207°C et 32.9 à 42.3 poids.% NaCl équiv., et de 215° à 357°C et 8.3 à 19.7 poids.% NaCl équiv., respectivement. Les valeurs de d18OVSMOW pour la tourmaline vont de 8.2 à 9.0‰, et celles du quartz de 11.4 à 11.9‰, avec une température estimée du fluide entre 323° et 399°C sur la base du géothermomètre isotopique quartz-tourmaline. Il est postulé qu’un fluide riche en CO2 et un fluide aqueux distinct ont envahi le système de fractures/veines par intermittence en réponse à des variations dans la pression des fluides, et qu’il y a eu peu de mélange. Le fluide riche en CO2 est également observé à Campbell-Red Lake ou il est le fluide minéralisant principal, il est présumé être dérivé de portions plus profondes de la croûte. Ce réservoir profond de fluides riches en CO2 pourrait être la source commune des minéralisations aurifères de la ceinture de roches vertes de Red Lake."

Jan 1, 2009

By J. A. Finch, A. R. Laplante, R. Espinosa-Gomez

"The Niobec concentrator rejects up to /5% of the Nb as slimes (-10u.m). The recovery of Nb from these slimes by column flotation is being studied. An essential condition for selective flotation is slimes dispersion. A particle size analyzer, the Sedigraph 5000D, was used to monitor dispersion in plant waters with combinations of organic and inorganic dispersants and flotation reagents. Flotation reagents were particularly detrimental to dispersion with sodium silicate. The best dispersion conditions were selected for column flotation tests. These tests revealed that reagent combination had a pronounced effect on froth stability. Careful frother selection achieved good froth stability under conditions of good dispersion. Plant water increased the required dispersant concentration causing mineral depression.IntroductionSlimes (-10 u.m) rejected at Niobec contain up to 15070 of the over-all Nb content . Recovery of Nb from these slimes would significantly increase over-all recovery. A suggested recovery route involves two phases: (1) carbonate flotation (to remove most of the carbonates) depressing silicates and pyrochlore (as currently done at Niobec); and (2) selective (direct) pyrochlore flotation from the silicates. Phase 2 has been addressed and several routes to achieve selective flotation are available. Phase I was attempted with the selective reagent scheme used at Niobec but a considerable amount of pyrochlore floated with the carbonates due to poor slimes dispersion."

Jan 1, 1987

By John E. Callahan

"A stream sediment geochemical survey covering an area of 13.000 sq. km near Churchill Falls. Labrador. was conducted for Brinex (British Newfoundland Explorations Ltd.) prior to partial flooding by the Churchill Falls power project. Stream sediments (minus 80-mesh) were analyzed for Cu, Pb, Zn, Ni, Ag, Mo. U and Mn, and the heavy mineral, nonmagnetic fraction (minus 60-mesh) for Cu, Pb, Zn, Ni, Ag, Mo, Ba and Mn. A binocular examination of the concentrates for sulphides and pyrope garnet was done on the heavy mineral concentrates. The concentrates were also examined for fluorescent minerals.Two distinct areas with high trace-element values indicate the need for follow-up studies. The first is in an area of gabbro erratics containing massive and disseminated sulphides (pyrrhotite, pyrite and minor chalcopyrite) on the western edge of the survey area along the Esker Road. The second, largest area (several hundred square kilometres) is anomalous in U and Mo and associated with felsic intrusives (Red Wine Complex?), syenites. granite gneiss and sedimentary rocks (Seal Lake Group?).The binocular study showed that almost 15% of the heavy mineral concentrates contained pyrite and no other sulphides. This indicates that this technique may be worthwhile in determining the presence of sulphide minerals in stream sediments from glaciated environments. The only fluorescent mineral observed in the study was zircon."

Jan 1, 1981

By L. H. Thorleifson

Demand for both gem and industrial diamonds is very strong. Synthetic production supplies industrial uses, but synthetic gems remain inferior and expensive, so the large gem market is supplied by mining. Several major mines have been depleted, and the market is receptive to new sources of high quality gems. Canada's Precambrian terrane, extending across the Canadian Shield and under the Phanerozoic cover of the Plains and Hudson Bay, has excellent potential for diamonds, but exploration conditions are difficult due to recent glaciation. Early world exploration relying on recognition of diamond in alluvial sediments was adequate to launch pre-1900 production from India, Brazil, and Africa. Exploration success in Canada, as was the case in Russia and other more recently discovered sources, however, had to await large investments in effort supported by advanced science and technology. Canadian exploration in many ways is similar to that in other regions, relying on analysis of tectonics, indicator minerals, geophysical surveys, and multiple stages of drilling and sampling. Very different from other regions, however, is Canada's surficial environment, in which recent glaciation has caused fresh indicator minerals to be transported hundreds of km. Exploration accelerated in Canada after 1960, first in Ontario and the Arctic Islands, then in Saskatchewan in 1988, and most importantly after the Chuck Fipke - Stew Blusson discovery at Lac de Gras, Northwest Territories, in 1991 that led to the billion-dollar BHP - Dia Met Ekati Mine that opened in 1998. In 2003, production from Ekati is expected to be supplemented by that from the similar and nearby Diavik Mine of Rio Tinto and Aber, currently under construction. These mines will bring Canadian output to over 10% of world supply, and will position Canada with Botswana and Russia as world leaders in production of high quality gem diamonds. There could be other mines as well, as sites across the Arctic and in the south from Alberta to Québec are being explored by an array of companies, including De Beers, other majors, and several juniors.

May 1, 2001

By A. W. Jacob

THE shatter cut, or burn cut as it is often called, is one in which the centre of the round is almost reamed out by drilling holes so close together that the blasting of a few holes shatters the rock embraced by all of them. The idea of shattering the centre of a face by shooting holes drilled parallel to one another is not new. Some miners have used this method for years past, when drilling quartz or a face near timber. But, they followed the age-old practice of first blasting the cut, then the square-up. It was not thought possible to shoot both together. In the case of machine men, the two largest contributors to silicosis are dust from drilling and dust from blasting. It follows, then, that material reduction of exposure to either constitutes an important step in lessening the incidence o silicosis. It was? the hope of being able to do away with the necessity of the men having to return early to a face, through dust concentrations of 60,000 to 80,000 particles per cubic centimeter, that aroused interest "in the shatter cut at McIntyre. Efforts to this end were successful. Now, with this kind of cut, all holes of a round are shot simultaneously.

Jan 1, 1942

By Norman B. Davis

Introductory Feldspar is one of the most important mineral products consumed by the various branches of the ceramic industry. In the manufacture of table ware, electric porcelain, floor tile, and enamels, it supplies the chief fluxing ingredients necessary to bond the other more or less inert materials together when moulded into desired shape and fired in a kiln. Feldspar is used in the manufacture of bottle glass as a means of introducing alumina in a form easily assimilated. It is also used in certain scouring soaps particularly designed for cleaning enamel and glass surfaces. Feldspar, as it finds its way to the trade, is not a single mineral but is rather a mixture of various proportions of the feldspar silicate series, either in natural intergrowth or blended in the milling process, to produce a desired result. It is often further modified by the presence of quartz in amounts up to 30 per cent. The table on the next page gives typical commercial analyses of feldspar from various sources. Canadian feldspar produced to date has consisted mainly of the high-potash, relatively low-soda, variety, and has enjoyed a good market in the United States for the manufacture of enamels, electric porcelain, and vitrified table-ware. About eighty per cent of the output has been exported to the United States, but, with increased milling facilities in Canada and changes taking place in domestic United States sources of supply, the proportion exported will be reduced next year.

Jan 1, 1931

OBJECTIVES ??REDUCE OPERATING COSTS ??INCREASE LIFE COMPONENTS ??EXTEND LIFE of THE DOZER ??REDUCE MAINTENANCE COST ??REDUCE DOWNTIME ??IMPROVE DURABILITY & RELIABILITY ??IMPROVE BOLD JOINTS PREFORMENCE ??IMPROVE SAFETY

May 1, 2004

By F. Charette

The paper reviews recent investigations of the impact of corrosion on the performance of both plain and coated Swellex rock bolts. It addresses the problems associated with estimating and predicting corrosion rates of friction bolts, and based on field data it suggests an empirical relationship to predict corrosion rates. A review of the necessary qualities for a protective coating leads to recent experience with coated Swellex bolts that suggest that they can contribute to extending the useful life of Swellex bolts in potentially corrosive environments.

May 1, 2004

By Niklas Frank

Ore and waste transports form an integral part of any mining operation and represents a substantial portion of the mine´s total operating cost. Mine layout, truck fleet and size, production rates, haulage distances, shift schedules, maintenance strategies etc. are all important and not at all static variables. They all change during the life of a mine and interact in a dynamic way. It is therefore essential for the successful mine management to constantly analyse and optimise the mine's transport systems. Önnerlöv has recently conducted a life-of-mine haulage simulation project for Zinkgruvan Mining, a medium sized, underground zinc producer, located approximately 60 kilometers south of Örebro, Sweden. The main objective of the project was to analyse and optimise the investments required to provide ore and waste haulage under changing conditions over an +10- years period: Deepening of the mine, increased production rates, changed mine layout, changed truck fleet etc. A large number of scenarios has been tested in the simulation model in order to identify the "lowest cost per ton" solution. This paper comprises an introduction of Zinkgruvan Mining and a brief background to the actual project, a description of the simulation model, project conclusions and some useful hands-on tips for mining engineers and project managers how to run a successful simulation project.

May 1, 2003

By A. C. Wilson

"In 1991, local prospector C. “Mickey” Clement recovered at least three alluvial diamonds from the Michipicoten River. Two of these stones were sent to the Department of Mineralogy, Royal Ontario Museum, where they were identified as industrial-grade diamonds with weights of 1.05 and 1.13 carats. Both stones were described as frosted and graphiteinclusion riddled.In 1995, prospector Sandor Surmacz and geologist Marcelle Hauseux discovered diamonds in bedrock approximately 20 km north of the Michipicoten River. An 18.1 kg bulk sample of a xenolith-rich lamprophyre, taken from an outcrop at the side of the Trans Canada Highway north of Wawa, yielded 1 macro diamond and 5 micro diamonds. All but one was gem quality (Sage, 2000).Since then, more than 36 occurrences of diamonds in bedrock have been reported in an area approximately 30 km2 in size, centred 20 km north of the town of Wawa. The occurrences are hosted within a sequence of unusual, Archean-aged, heterolithic breccias previously considered to have no economic significance. Ten kimberlite occurrences also have been confirmed in the Michipicoten greenstone belt in the last five years. Two of these kimberlites are diamondiferous.To date, expenditures on property acquisition and diamond exploration in the Wawa are estimated at CDN$120 M.This paper summarizes the geological observations made on these occurrences and describes the relationship between the occurrences and the regional geology."

Jan 1, 2004