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By Douglas B. Silver

"Editor’s note: Douglas B. Silver, Portfolio Manager, Orion Resource Partners, was the keynote speaker at the 2017 SME Annual Conference & Expo in Denver, CO on Feb. 19, 2017. He also gave the keynote address to the SME Annual Conference in 2008. The following is his 2017 keynote address with a few of the slides that were presented. The full speech is available on YouTube https://www.youtube. com/watch?v=uF0qwGJIX3UIn 2008, I had the privilege of giving SME’s keynote address. At that time the financial markets were on the verge of collapse and my presentation described the issues. Unfortunately I was correct, and global markets went into a steep nosedive, creating the largest economic downturn since the Great Depression.In hindsight, there were plenty of signs that this was coming. The Supercycle had created massive new wealth. This wealth was largely invested in the United States due to the country’s political stability and credit worthiness. In 2004, the large investment banks convinced the U.S. Securities Exchange Commission (SEC) to allow them to triple their borrowing leverage ratios. This made the banks more vulnerable to market volatility. The banks then lent money to NINJAS - people with no income, no job and no assets. Even worse was the fact that these unqualified home owners used adjusted-rate mortgages (ARMs) which they, of course, intended to refinance prior to interest rates rising. These mortgages were then bundled up by the banks and sold to investors as “safe” investment products. The money flowed into these products because the rating agencies gave these instruments high marks. These same agencies earned their fees from the very same banks seeking high ratings. (No conflict there). Private debt exploded and peaked out in 2008.These mortgage products were sold in an unregulated shadow banking system and the ARMs came due. Toxic mortgage default rates skyrocketed and the mortgage-backed securities collapsed in value. This house of cards had a negative feedback loop that accelerated the market crash and resulted in more than $1.5 trillion being lost in the securitization sector, a 47 percent decline in the Dow Jones Industrial Average, foreclosure rates skyrocketing and housing prices collapsing. The financial markets were in a nosedive."

Jan 8, 2017

By Y. A. Attia

A study was performed on selective flocculation and dispersion for ultrafine coal cleaning. A totally hydrophobic polymer, FR-7A, was employed as the selective flocculent for coal, sodium metaphosphate (SMP) as the general dispersant for shale and a synthetic polymeric product, polyacrylic acid-xanthate (PAAX), as the selective dispersant for pyrite. In the adsorption tests, nephelometry and spectrophotometry were employed for determining the concentration of FR-7A and PAAX in the solutions respectively. The adsorption tests indicated that: a) FR-7A has a higher affinity toward coal and pyrite than that for shale; and b) PAAX has a much higher affinity toward pyrite than toward coal and shale. In the selective flocculation tests, the ash-forming minerals can be efficiently rejected using sedimentation as the separation method. However, due to their relatively high specific gravity, pyrite particles co-settle with the coal flocs. To reject fine pyrite, a froth flotation was used for floc separation. The one-step flocculation-flotation process could reject more than 70% of each of the pyritic sulfur and ash minerals, while recovering more than 85% of the coal.

Jan 1, 1990

By Paul H. Johnson

Resource Engineering and Development, Inc. is desigining and building a portable 150 to 225 tpd, flotation-cyanide leach plant with unitized, skid-mounted components. This plant design, with its portability, low capital investment, and high recovery of silver and gold from many partially oxidized ores, is well suited to treat many small, highgrade deposits, old waste dumps, and old mill tailing piles. A description is given of flotation and/or cyanide leach tests run on 18 partially oxidized, newly mined ores; waste dump materials; placer slimes; and old mill tailings.

Jan 1, 1981

By J. D. Kennedy

The alchemists of old are remembered well for their tireless efforts in attempting to convert various common metals, such as lead, into gold. Not so well known generally, but no less intense, have been the efforts of certain individuals who attempted to manufacture diamonds over the last 100 years. Diamond, the most glamorous and permanent of gems and the hardest industrial abrasive, is carbon in a high-density unique crystalline form with a cubic structure and a density of 3.5. This contrasts with graphite at a theoretical density of 2.2 and possessing a hexagonal structure. Diamond is the hardest natural, material known and until very recently had no close competitor, natural or otherwise, with respect to hardness. The hardness of diamond exceeds that of any other industrial abrasive by a factor of approximately five. The early theories of diamond synthesis were rather vague. Since diamonds occurred in nature, man then looked to nature for clues as to how this might be accomplished. The original known diamond deposits of India are alluvial in character and provided little insight as to how diamond had been formed by nature, for in, these locales the diamonds have been washed by streams or carried by the glaciers long distances from the areas in which they occurred originally in the earth's crust. As a matter of fact, we are told that even today the locations of the mother ground for the Indian alluvial deposits are not known.

Jan 1, 1959

By P. D. Chamberlin

Agglomeration for the heap leaching of gold and silver ores can be defined as the process of attaching fine ore particles (less than 100 mesh) to coarser particles so the fines are immobilized and uniformly distributed throughout the heap, thus making the heap more porous and uniformly permeable to the flow of a leaching solution. Agglomeration techniques and equipment to be described include drum and disc agglomerators, stockpile and belt agglomeration, and the use of vibrating deck and reverse running conveyors.

Jan 1, 1986

By R. E. Doerr

The successful technical demonstration of coarse coal slurry transportation at Consolidation Coal Company's Loveridge Mine in West Virginia suggests that it is now appropriate to seriously consider this technology in other applications, especially the transport of ' coal in surface mining. Early examination indicates that coarse coal slurry transport may be highly competitive with existing haulage systems, depending on a number of factors. These factors are not yet completely defined, but certainly will include production rates, coal physical and chemical properties, terrain, soil conditions, climate, water availability and quality, availability of skilled labor and other economic considerations impacting the existing haulage systems.

Jan 1, 1983

By Randall J. Essex

The Construction Institute of the American Society of Civil Engineers recently published the second edition of a 1997 publication on geotechnical baseline reports. The new publication, called Geotechnical Baseline Reports for Construction, Suggested Guidelines, represents a 2-year effort that adds three new chapters to the original publication, as well as capturing practitioner commentary through two industry workshop sessions. The paper will overview the contents of the new publication, particularly the three new chapters.

Jan 1, 2008

By Tim Hurley

On Friday, May 27, 1983 at about 6 p.m., an avalanche occurred at the Revenue-Virginius Mine. Six mine personnel and two contract diamond drillers were trapped when the avalanche covered and blocked the portal, the only access into the mine. The San Juan Mountain Range in southwestern Colorado is an old volcanic caldera. It has dikes and other intrusions, many of which are mineralized with sulfide ores rich in silver, gold, lead, zinc and copper. Several peaks rise above 4,260 m (14,000 ft) and the district has been the location of avalanches dating back to prehistoric times. This is evidenced by the numerous snow-slide chutes that are infamous enough to be named on topographic maps.

Jan 1, 2006

By Harry Perry

Although the markets for coal in the United States have changed rapidly over the last three decades, the uses of coal, namely, to produce heat and power or coke have been left almost unchanged. The coke is used either as a chemical reducing agent alone or as a reducing agent and source of heat. Most of the heat and power markets for coal require no coal processing, although for more than 50 years, many proposals to skim the more valuable substances in coal before burning have been advanced. Thus, the only large tonnage market requiring processing of coal is high-temperature carbonization to make coke. At present, coal requires processing for some small markets, but for future potential large markets, such as gasification, conversion to liquid and gaseous fuels, and conversion to chemicals, coals will require more processing than is now being done.

Jan 1, 1962

By A. G. Mayton, D. H. Ambrose, C. C. Jobes, N. K. Kittusamy

In a systematic study, the National Institute for Occupational Safety and Health (NIOSH) evaluated seat designs in low- and mid-seam shuttle cars during production operations at two underground coal mines in southern West Virginia. The purpose was to support, with additional data, earlier findings that NIOSH ergonomic seat designs (featuring viscoelastic foam padding and lower-back support) may help reduce health risks to operators of coal mine shuttle cars. Eight shuttle car operators evaluated seven seat designs (one already in use in each vehicle and five NIOSH designs) relative to perceived and measured whole-body vibration (WBV) exposure (including vehicle jarring/jolting) and discomfort. Operators’ perceptions using a visual analog scale (VAS) and questionnaire ratings were compared with International Standards Organization (ISO) 2631-1:1985 fatigue-decreased proficiency (FDP) limits and measured WBV levels on low- and mid-seam shuttle cars. Objective and subjective data results indicated that NIOSH seat designs (with added adjustability, lower-back support and improved seat padding) performed better to reduce vehicle jarring/jolting levels and that shuttle car operators favored them over existing seat designs. The NIOSH low- and mid-seam shuttle car seats showed 45 to 77 percent better performance in FDP and 9 to 60 percent better performance overall in operators’ ratings. Considering the VAS results for low- and mid-seam shuttle cars under no-load conditions, operators rated the level of jarring/jolting 18 to 89 percent lower with the NIOSH seats. Reductions in measured vehicle jarring/jolting were 19 to 46 percent for the three-directional vector sum accelerations relative to the existing seats on the low- and mid-seam shuttle cars. Questionnaire responses indicated that operators for both shuttle car models rated NIOSH seat designs as more comfortable overall. Vehicle operators most frequently suggested adding armrests to improve the seats on the mid-seam shuttle car. A suggested improvement for the low-seam shuttle car was to make the seat a better fit for the operator compartment, which would enhance clearance between the operator and vehicle controls and allow for better seat adjustment and operator visibility.

Jan 1, 2009

By W. Gibson Jaworek

Of increasing importance to the student of fuels economics has been the extent to which different primary energy sources can substitute for each other in the various energy markets of the nation. Knowledge of the nature and extent of fuel interchangeability can aid the fuels economist in projecting trends of energy utilization, as well as giving him a better understanding of the past and present conditions of fuel markets. It is also important to the consumer to know just how much flexibility he can maintain in his energy consuming operations. And, finally, various governmental bodies show keen interest in the degree of energy substitutability in determining public policies concerning the fuels industries. The presence of excess fuel production capacity in the United States during the early 1960's indicates that fuel interchangeability should become more prevalent in the increasingly competitive energy markets of the nation. Discussion of fuel intercompetition is almost always restricted to qualitative terms-because of the lack of comparable statistical data, between the different energy sources in geographic or "type-of-use" fuel, markets. There are exceptions, of course, such as, the excellent fuel consumption data which are available on steam electric generating plants throughout the nation. In other sectors, statistics are at best incomplete.' Inmost instances, indirect fuel consumption indicators, such as sales of fuel burning equipment, are extensively used to measure market shares of a particular fuel; however, these indicators are hard to evaluate precisely without prior knowledge of the total competitive market.

Jan 1, 1961

By Carrie Pourvahidi

The California High Speed Rail Authority (Authority) was created by the State of California through legislation in 1996. The purpose of the Authority is to plan, construct, finance and operate a statewide intercity high speed passenger rail system. In 2004 the Authority prepared a programmatic level environmental document in compliance with the California Environmental Quality and National Environmental Protection Acts (CEQA and NEPA).The Authority and Federal Railroad Administration (FRA) were the lead agencies overseeing the development of the environmental documentation. The resulting document includes two volumes and 64 supplemental technical reports analyzing the transportation needs for California and the selection of an approach to meeting the project transportation needs. The Programmatic Environmental Impact Report and Environmental Impact Statement (EIR/EIS) identified High Speed Rail as the most environ-mentally protective, sustainable and economical approach to meeting the state?s projected transportation needs.

Jan 1, 2008

By P. Rosten

US mine production of iron ore in 1984 showed some improvements compared to 1983. But reduced demand from the iron and steel industry caused temporary shutdowns of many iron ore mines and pelletizing plants. US raw steel production in 1984 was slightly above 1983, but still at a depressed level. Production was 83 Mt (92 million st), compared with 77 Mt (85 million st) in 1983 and 68 Mt (75 million st) in 1982. Two major production trends continued in 1984. They were the increased production from electric furnaces and the growing use of continuous casters. Electric furnace production included 33.2% of the steel poured in 1984, compared with 31.5% in 1983. Continuous casting was used for 39% of 1984 steel production, compared with 32.1% in 1983. Statistical Process Control Statistical Process Control (SPC) has taken on new proportions in the iron ore and steelmaking industries within the last year. This mathematical technique is used to monitor, control, evaluate, and analyze a manufacturing process. The technique charts variability of important quality parameters. Training and adaptation of SPC techniaues for process control have been initiated at Inland, Steel's Minorca, Pickands-Mather's Hibtac, Cleveland-Cliff's Empire and Sherman operations, and at Reserve Mining. One of these operations has requested its bentonite supplier provide SPC charts on quality specifications. Some of the steelmaking operations (Inland Steel, Bethlehem Steel, Dofasco, LTV Steel, National Steel, Stelco, Weirton Steel, and Wheeling-Pittsburgh) have set up SPC programs within their operations. And they also have insisted that some of their suppliers use SPC. Plant Shutdowns The permanent closure of Stelco's Griffith mine at Red Lake, Ontario, has been delayed by one year. This gives employees more time to adjust. The mine is now set to close in April 1986, instead of April 1985. Sidbec (Canadian government) and its other partners (including British Steel Corp., Quebec Cartier Mining, and US Steel) closed its iron mining operations at Gagnon, Quebec. The pellet plant has been leased to Quebec Cartier. New Iron Ore Operations The massive Carajas iron ore project in Brazil is scheduled to come onstream in Jan. 1986. It is to achieve full-scale commercial shipments by July of that year. The 66% iron crude ore requires only crushing and screening before shipment. The product consists of 83% sinter feed and 17% coarse ore. Annual production capacity will be 32 Mt (35 million st) when the project is completed. Principal customer for the ore is Nippon Carajas Iron Ore Co., a consortium of Japanese steel mills. The Arab Iron & Steel Co. (AISCO) has started up a $US300 million, 3.6 Mt/a (4 million stpy) iron ore pelletizing plant built by Kobe Steel Ltd., at Al Hidd-hide in Bahrain. By 1986, this grate-kiln-cooler plant will supply high quality iron ore pellets to feed direct reduction plants in the immediate Gulf area and Far East markets. Iron ore supplied from Brazil, Peru, India, and Mauritania provides the feed to the pellet plant. Hydrated lime (2%) is used as a burden.

Jan 5, 1985

By R. B. McCammon

Four areas have been identified as favorable drill-site locations for determining whether or not a suspected prophyry copper deposit exists in Rowe Canyon, Nevada. Favorability is based on the similarity to a deposit model constructed from geochemical data for the porphyry copper deposit near Ely. Favorability is defined as the coincident number of positive anomalies for the elements zinc, silver, arsenic, antimony and iron. The favorable areas coincide with an observed magnetic high and areas in proximity to major faults.

Jan 1, 1979

By J. Hollow, D. Walsh

The Fort Knox Mine is located in Alaska’s interior, where the average ambient air temperatures range from -24oC in January to 16oC in July. The mill processes a free milling gold ore utilizing both a gravity recovery circuit and a conventional cyanide leach/carbon-in-pulp circuits. Mathematical models have been developed to accurately predict the impact of leach circuit slurry temperature on gold leach, carbon adsorption and cyanide destruction kinetics. Additionally, an energy balance approach has been used to model the seasonal variations in slurry temperatures throughout the Fort Knox mill. The energy balance model, combined with the kinetics models previously developed to predict plant performance, was used to justify a tailing thickener installation at the Fort Knox Mine. This paper describes the development of the energy balance model and its prediction of plant performance assuming a tailings wash thickener to reduce heat loss from the mill. Also presented is an analysis of the post project plant performance that validates the model and shows the mine produced an additional 596 kg (19,155 ounces) of gold, while reducing mill reagent costs by $6,302,000 during the first 38 months of operation.

Jan 1, 2007

By R. A. Matuszak

Throughout the history of power excavating machines, engineers have continuously tried to shape the main drive speed-torque characteristics to provide an optimum performance from each main motion. Selection of prime mover for the various motions has been the subject of many engineering studies and most forms of energy conversion have been tried. A new form of electrical power conversion looms on the horizon' as the most optimum yet. Controlled frequency operation of a squirrel cage induction motor increases the reliability of the most reliable form of energy conversion (electrical) found thus far and at the same time improves the performance characteristics.

Jan 1, 1977

By W. Dziurzynski

The present article sets forward the results of field tests that made it possible to validate the mathematical model used in the VENTGRAPH ventilation engineer programmes. The case considered relates to the introduction of a new heading to the ventilation network of the mine. The utilisation of computer programmes in practice is justified by the necessity of ensuring expected performance and secure conditions in the network of mine headings, where - for example - plans are being made to utilise the transport dip-heading, taking into consideration fire and methane hazards. In the article we have presented the methodology of preparation of a database for computer programmes of the VENTGRAPH system, obtained on the basis of ventilation measurements. The next step consists in the execution of a design of the modified network and prediction, this on the basis of heading geometries, of parameters characterising the flow of air for the designed headings. Due to the fact that the heading was in the final stage of driving, following its introduction to normal operation and the stabilisation of flow values it was possible to retake ventilation measurements, which validated the results obtained through computer simulations. In order to execute measurements of the volume flow in the dip-heading, we employed a new wireless multipoint measurement system to determine the velocity field of air in the mine heading; the results are characterised by a high accuracy of measurement. As a part of fire prevention and incident management planning, a series of underground fire case studies for the a validated network flow model has been made. Results of simulations show the capabilities of the FIRE module of the mentioned software, including assessment of stability of flow directions and hints on counter and preventive measures for particular locations of fire.

Jan 1, 2009

By R. D. Hagni, P. A. Shivdasan

Cathodoluminescence microscopy (CLM) is uniquely applicable to the study of carbonatite-related fluorspar ore deposits. The mineralogy of the carbonatites, sodic and potassic fenites, marbles, quartzites, and fluorite ores are readily determined and characterized. Calcite, dolomite, apatite, fluorite were deposited dominantly under high temperature conditions and they exhibit strong cathodoluminescence (CL). Three types of carbonatites have been recognized at the Okorusu, Namibia carbonatite complex and fluorspar mines by field mapping and laboratory CLM. The main carbonatite intrusion is fine grained and consists mainly of calcite. A later phase of pegmatitic carbonatite consists of calcite, magnetite, Fe-rich pyroxene, apatite, and pyrochlore. Pyroxene carbonatites were recognized mainly through their study by CLM.

Jan 1, 2001

By R. W. Lake

The decision to develop an ore body can lead to multi-million dollar profits, or equally substantial losses. Accordingly, the effort required to adapt a valuation model to the specific proposal at hand, or even the development of a new model from basic principles, is clearly warranted. In the formulation of a model of this nature, one is faced with some major questions. For example, with the long term obligations that it implies, on what basis should a decision to initiate mining operations be made? Furthermore, how can the vagaries of inflation and the uncertainties that shroud the future be accommodated? Beyond the general principles by which mineral deposits are evaluated, specific cost behaviour is a function of the geology of the deposit, and of the mine design. Moreover, mine design, during the life of the mine, must be a continuing process somewhat akin to dynamic programming. An initial, apparently optimal, design is selected and mining commences. With production, a continual process of information updating leads to revisions. Thus if the maximum value is to be obtained, the mine design must be adjusted to conform to the changed conditions.

Jan 1, 1977

By J. Kretschmann, N. M. Smith, J. F. Brune, P. Goerke-Mallet

Coal production and coal use for electric power generation are diminishing worldwide. Germany will phase out lignite mining as well as lignite and hard coal-powered electricity generation by 2038. In the United States, coal production has dropped by more than 50% since 2006, including in key coal production states like West Virginia and Wyoming (EIA 2021). Closing mines and power plants across entire mining regions has significant socio-economic impacts. Existing industries must be focused on the post-mining economy by attracting new industries, and implementing job retraining programs for displaced workers, as former mining regions transition towards agricultural, industrial and recreational use. This paper examines the German “exit from coal” under the 17 UN Sustainability Goals and illustrates the complex procedures, interrelationships, risks, and rewards of the transition towards renewable energy sources, including wind, solar, hydrogen, and bioresources.

Mar 2, 2022