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By L. K. Witika, J. H. Masinja

"Investigations of flotation characteristics of Lumwana and Kansanshi ores using formulated frothers were carried out. Of the six frothers tested, two came from the alcohol family, two from the glycol family and last two were formulated products. The initial work involved determining the optimum mesh of grind and frother dosage for Lumwana and Kansanshi ores. Further work involved carrying out surface tension, bubble size and froth stability measurements. Finally, water recovery tests were conducted at Lumwana and Kansanshi mine sites. For froth stability tests, six frothers were tested on a two-phase (water–air) system using the Bikerman column flotation cell, while water recovery tests were conducted using a total of seven frothers, including the standards for each plant. The results of the testwork showed that (i) although a stable froth is essential for optimum recovery of valuable minerals, a higher molecular weight frother, like Dowfroth 250, caused poor selectivity when used on fine ores and (ii) a lower molecular weight frother was suited for Lumwana ore, while a mid to higher molecular weight formulated product was suitable for Kansanshi sulphide ore. INTRODUCTION Investigations of flotation characteristics of Lumwana and Kansanshi ores using formulated frothers were carried out. The initial work of this project involved determining the optimum mesh of grind and frother dosage for Lumwana and Kansanshi ores. Further work involved carrying out surface tension, bubble size and froth stability measurements. Finally, water recovery tests were conducted at Lumwana and Kansanshi mine sites. In order to investigate the gangue entrainment levels in the Lumwana and Kansanshi sulphide ores, two well-known methods (froth stability and water recovery) were used. Firstly, froth stability tests were conducted using six frothers, two from the glycol family (Dowfroth 200 and Dowfroth 250), two from alcohol family (MIBC and pine oil) and other two from the formulated family (Betafroth 20 and Betafroth 245), at the University of Cape Town’s Centre for Mineral Research (CMR) laboratories. Froth formation and stability measurements were conducted using the Bikerman column flotation cell."

Jan 1, 2015

By R. Hewer

Transition metals have been widely used in medicine throughout history. The medicinal use of metals extends back to the earliest recorded history when the Chinese used gold as treatment for a variety of ailments. The ancient Egyptians used copper to sterilize water and mercury was reportedly used by Hippocrates in 400BC. Thereafter, numerous other metals have been used as treatment throughout the centuries. For example, zinc sulphate was used as an emetic in the 17th century and zinc oxide was used to treat epilepsy in the 18th century. This use of metals, and numerous other instances, which have been well described in Sneader 2008,1 make for interesting reading but largely occurred prior to the advent of rigorous scientific method. Therefore, although there are exemptions, most therapeutic applications of metals prior to the modern age lack scientific grounding and have been found to be mostly ineffective. Of more relevance are metal-based medicines approved by regulatory bodies (i.e. Food and Drug Administration; FDA) that are in current use as therapeutic drugs. There are presently a large number of metal-based drugs that are approved for use by the FDA ranging from over the counter medicines, such as bismuth subsalicylate for gastrointestinal problems, to prescription drugs such as lithium carbonate for the treatment of manic depression. The list of metal-based medicines approved by the FDA not only incorporates base metals but also includes precious metals. Platinum complexes have been found to be potently active against several different types of cancers while gold complexes have shown application as treatment for rheumatoid arthritis (RA). With the well-established foundation that exists for metal-based medicines, it is imperative to continue exploration into new therapeutic areas. The precious metals; gold, ruthenium and platinum, continue to attract scientific interest in the field of biomedicine and have been widely researched. Scientific studies conducted on gold complexes have demonstrated the potential of this metal for the treatment of HIV/AIDS, cancer and malaria. These diseases are also specific health concerns for developing nations; countries where disease has devastating impact. Within South Africa alone, an estimated 5.7 million people are infected with HIV/AIDS,2 approximately 7 000 new cases of malaria are reported annually, and it is projected that 1 in 4 persons will develop cancer. Continuous development of therapeutic drugs to combat these diseases is therefore apriority, and the exploration of gold-based compounds for this purpose is warranted.

Jan 1, 2009

By N. Hamlef

In this study, the effects of heat treatment on phase formation and surface morphology of the Cr-Pt coated system are investigated using X-ray diffraction and electron microscopy techniques. The CrPt andCr4Pt (Cr3Pt - A15 type) phases were formed after heat treatment of the coated samples. Heat treating at 1000°C renders a distinct island coating morphology that is non-continuous in nature. A diffusional model is proposed for this coated system with regards to the surface morphology formation after heat treatment.

Jan 1, 2014

By Y. -L. Chiang

Paper written on project work carried out in partial fulfilment of BSc (Eng) (Chemical) The generation and control of manganese sulphide particle size distribution using various mixing configurations were investigated. Specifically, this paper discusses how varying mixing intensities on a macro and micro scale affect the resultant manganese sulphide particle size distribution (PSD) at a constant concentration. The mixing variations were achieved using various Y- and T-mixers as premixing devices into a jacketed, agitated vessel. The reagents used to generate the seeds were aqueous manganese sulphate and sodium sulphide solutions. The results showed that the absence of micromixing resulted in very poor control of the particle size distribution, the particle size and the number of particles produced. This was due to the fact that the macromixing time is much greater than the corresponding precipitation time, resulting in different mixing regions existing within the reactor. From the micromixing experiments, the T?mixer was found to be the most effective mixing device at lower concentrations due to the T-mixer providing a faster mixing time than the other mixing configurations, thereby effectively localizing the supersaturation and hence controlling the precipitation. The results obtained from the direct addition without the extension pipe (i.e. short mixing time) indicated a general increase in mean particle size and decrease in total particle number at reagent concentration of 0.007 mol.dm-3as compared to the corresponding micromixing experiments. The phenomenon may be due to incomplete crystallization at the immediate exit of the mixing device. Further experiments need to be conducted before any conclusions can be drawn about the precipitation mechanisms.

Jan 1, 2007

By A. Çelik

Wheel loaders are widely used in many sectors due to their mobility, operational flexibility, and low costs. The literature is mainly focused on improving the hydraulic, mechanical, and electronic subsystems of these machines in terms of efficiency or developing strategies for controlling these systems. In this study, the effects of the loader operator and different working conditions on the loading performance were investigated. The study was carried out at the Can Lignite Enterprise (CLI), which is a major coal producer in Turkey. In the study, which lasted approximately four months, a total of 808 measurements were performed to investigate seven different scenarios. The effect of a single parameter on loading performance was investigated in the first six scenarios. The results showed that the biggest impact on loading performance was caused by the operator's experience with 63.4%. On the other hand, the worst and most ideal working conditions determined from the first six scenarios were tested in the seventh scenario. It was tested as a script. The test results showed that the loading performance was 285.5% more effective under the most ideal operating conditions compared to the worst operating conditions. In addition, in the study, the loading performances of five loaders with four different capacities were examined in terms of energy efficiency and it was determined that the Kawasaki 115 work machine, which has a higher model and lower engine operating hours, was more advantageous. In the study, various suggestions were developed in parallel with the research results. The most prominent and easiest to implement of these suggestions is related to the selection of the loader operator.

Nov 27, 2024

By C. Chibwe, M. Tadie

Copper electrowinning models are useful for prediction of process performance, optimisation and improved understanding of complex phenomena such as current distribution without the expense of physical experiments. Recently, finite element models such as those generated in COMSOL Multiphysics have been developed for the electrowinning process. The predictive capacity of these models is improved by incorporating physical and chemical phenomena. Since physicochemical properties of electrolytes can have a significant effect on the quality of copper produced, this work was conducted to investigate the effect of such properties on electrodeposition at varying levels of copper, sulphuric acid concentration, iron concentration and temperature, in the presence of a smoothing agent. Tests were conducted at conditions similar to those for industrial copper electrowinning. Mathematical correlations were developed for the following properties; density, conductivity and diffusivity which were compared to existing models in literature and thereafter applied in a COMSOL generated model. The model predicts, current distribution at the cathode surface, deposit thickness (morphology), concentration of species within the cell and current efficiency. Current distribution output shows the impact of several phenomena on the deposit generated including the relationship between increasing copper concentration and current density and lack of influence of acid concentration on this property. Keywords: Electrowinning, physicochemical properties, electrolyte composition, modelling

Jan 1, 2020

By F. S. Hoseinian, D. Deglon, L. leal Filho, M. Safari, T. C. Souza Pinto

This paper investigates the effect of chemical and physical operational parameters on the reverse flotation of Timbopeba itabirite iron ore in a pilot-scale pneumatic flotation cell. Operational parameters include collector and depressant dosages, feed rate, superficial gas velocity and solids concentration. Results show that increasing collector dosage results in an increase in quartz recovery, particularly for the coarser quartz where recovery increases by nearly 30%. Increasing depressant dosage results in a decrease in both quartz recovery and hematite loss, for the coarser hematite particles. Increasing the feed rate has no effect on quartz recovery or hematite loss, suggesting that the pneumatic flotation cell is not residence time constrained. Increasing the superficial gas velocity results in an increase in quartz recovery to an optimum at a Jg of around 0.6 cm/s after which it decreases significantly, particularly for the coarser particles where recovery decreases by as much as 50%. Decreasing the solids concentration does not affect quartz recovery but results in significant decreases in hematite loss. Here, fine and coarse hematite loss decreases from around 25% to 12% and 10% to 2% respectively. Superficial gas velocity and solids concentration are operating parameters which have the largest effect on the flotation performance of the pneumatic flotation cell. Results suggest that this flotation cell should be operated at relatively low superficial gas velocities and solids concentrations. However, these are pilot-scale findings and would need to be tested at an industrial-scale where different operating conditions may be optimal. Keywords: Operational parameters, reverse froth flotation; entrainment; iron ore

Jan 1, 2020

By G. Akdogan, S. M. Bradshaw, A. P. Van Wyk, T. Punt

Recycling has become an important part of the lithium-ion battery (LIB) life cycle due to the growing demand for energy storage in applications like electric vehicles and renewable energy. Recycling spent LIBs provides a secondary source for strategically scarce metals, like lithium and cobalt, helping to reduce the environmental impact of LIBs. Organic acids have been proven to be effective lixiviants with the benefit of reduced environmental impacts, amongst which citric acid has shown to exhibit similar extraction performance when compared to mineral acids. Leaching LCO and NMC batteries with 1.5M citric acid and 2 vol.% H2O2 at 95°C, 20 g/L for 20 minutes achieved 93% Al, 90% Co, 96% Li, 94% Mn and 94% Ni dissolution. The strong chelating property of citric acid affects the separation of the metals, providing unique extraction opportunities. The first extraction uses 12 vol.% D2EHPA at a pH of 2.5 and O/A ratio of 2 to separate 96.4% Mn and 100% Al from the PLS in two counter-current stages. Stripping the loaded organic with 1.25M citric acid at an A/O ratio of 3 allows for up to 91% stripping of the manganese in a single stage. The second extraction then separates 96.5% Li from the PLS in three counter-current stages using 20 vol.% D2EHPA at a pH 5.5 and O/A ratio of 5. The raffinate remaining after the second separation contains 48.4 wt.% Co and 50.3 wt.% Ni. Keywords: Hydrometallurgy, lithium-ion batteries, metal recycling, citric acid, solvent extraction

Jan 1, 2020

By B. McFadzean, M. Becker, S Geldenhuys, A. Molifie

Mineral hydration is known to result in low flotation recoveries and grades within primary platinum group element ores worldwide. This is because the phyllosilicate minerals derived from hydration reactions of silicate minerals (i) form electrostatic coatings on valuable minerals that in turn hinder collector adsorption, (ii) alter the viscosity of the slurry leading to poor gas dispersion and (iii) decrease the concentrate grade due to naturally-floating gangue. Sodium silicate was investigated because its dispersant, rheology modifying, and depressant properties could prove promising in combating the problems associated with these ore types. Quantitative evaluation by scanning electron microscopy analysis revealed large quantities of serpentine and talc present within the ore sample used in this study, which led to a poor flotation response as indicated by batch flotation tests. Using sodium silicate improved the recoveries and grades at high dosages (>1000 g/t). The zeta potential experiments indicate that improved recoveries are, in part, as a result of the reversal of serpentine surface charge, creating electrostatic repulsion between serpentine and valuable minerals which prevents the coating of valuable minerals by serpentine slimes. Ore dilution and rheology tests indicated that decreased viscosity at high dosages also improved recoveries. Talc micro-flotation tests revealed that the depression of talc occurred at higher sodium silicate dosages, which improved concentrate grade. The processing of nearsurface altered ores is becoming an increasing problem worldwide and the use of sodium silicate proved valuable in mitigating the problems associated with the altered ore investigated in this study. Keywords: Alteration, phyllosilicate slimes, colloidal chemistry

Jan 1, 2020

By C. Debek, A. Wasilewicz, T. Czysz

"Both Polish and European hard coal mining nowadays faces the need of deepening shafts (significantly in some cases) or extending mining hoists, due to the exploitation of deeper coal deposits.In order to protect the crew working within a shaft, rope safety platforms (artificial shaft bottoms) are employed. Old solutions, based on rigid steel constructions with the external damping layers made of e.g. slag and up to several tens of metres long, are intended to absorb the energy of approximately 5 t mass falling a distance of 700 m. However, current requirements often assume a drop of 20 t to a depth of 1000 m or even more.More modern safety platform structures, made of one or more support rings with steel ropes stretched on them (rope platforms), are more compact (up to 3 m high) and lighter than traditional solutions. Multi-ring rope platforms with additional damping layers filling the empty spaces between the ropes are able to absorb sufficient energy to meet the current requirements.Single- and double-ring platforms have been employed in Poland to absorb the energy of approximately 5 t dropping to a depth of 900 m. They have been developed (and some have already been implemented) by SADEX Ltd. and are protected by various patents and patent applications.This paper presents a design for a triple-ring platform structure with six rope nets. FEM analysis was used to model the performance of the platform. According to the simulation, a 20 t mass falling from 1000 m (>100 m/s) will destroy all the nets, breaking most of the ropes and deforming the support steel boards placed on the nets, but will ultimately be stopped by the platform, as its kinetic energy falls to zero."

Jan 1, 2017

The influence of varying amounts of magnesia, silica, and alumina in iron ore sinter on its mineralogy, reducibility index (RI), reduction disintegration index (RDI), physical breakdown (AI and TI), and production properties (coke breeze rate) were examined. It was found that the mineralogy of iron sinter can more easily be predicted from its chemical composition than from the RI, RDI, AI or TI. Anticipating the consequence that varying amounts of MgO and SiO2would have on sinter properties is complex, and not necessarily predictable. High concentrations of Al2O3in the sinter result in high concentrations of the SFCA phase, but with drastically deteriorated properties. This study also confirmed that the form in which fluxes are added to the raw material sinter mixture affects the mineralogy and properties of the produced sinter.

Jan 1, 2010

By G. Song, S. Yang

"SynopsisThe development of techniques and equipment for single-pass high-seam longwall mining in China is reviewed. Some methods used to obtain the fractured zone height are discussed. The boundary between the caved and fractured zones is generally not clear, but one important difference that distinguishes the two zones is that horizontal compressional forces exist only between blocks of fractured zone. Based on this, a theoretical method is presented to investigate the destabilizing modes of the main roof (by sliding or rotation) and is used to determine if the main roof is in the caved or fractured zone. This method considers the mining height, immediate roof thickness, bulking factor, main roof thickness, main roof strength, main roof periodic weighting interval, and vertical stress in the overlying strata. To verify the method, a representative physical model of Wangzhuang coal mine is developed. The movement of overlying strata and fractured zone height are thus obtained. According to the results, the total collapsed height of the strata reaches about 70 m above the coal floor; the first main roof bending interval is 45 m and periodic bending distance is 10–15 m; the maximum strata subsidence is around 62 mm; and the presence of a three-hinged arch causes the fluctuation of subsidence in the same stratum level. Based on the theoretical and experimental analysis, the middle of the main roof is considered the boundary between caved and fractured zone; the caved and fractured zone heights are about 21 and 49 m respectively.IntroductionThick coal seams (>3.5 m) account for about 44% of the coal rescource/reserves and more than 40% of the total annual production in China (Zhao 2004; Wang 2009). Three mining methods – slice mining, top coal caving, and single-pass high-seam longwall mining – are frequently used in underground thick-seam operations. Compared with slice mining and top coal caving, high-seam single-pass longwall mining significantly simplifies the mining processes, reduces roadway excavation, and improves coal production, productivity, and recovery. The favourable economics, high production, and technical simplicity make high-seam single-pass longwall mining one of the most popular underground mining methods for thick coal seams in China."

Jan 1, 2015

By P. C. Pistorius, M. P. Maphutha, J. D. Steenkamp

Advanced high-strength steels (AHSS) are sophisticated materials being developed by the steel industry to mitigate challenges related to the performance of motor vehicles. To meet the requirements of AHSS, the ferromanganese alloys (FeMn) utilized in the production of the steel are required to contain acceptable levels of unwanted impurities, i.e. P, S, N, H, and C. The focus of the current study was to investigate dephosphorization of ferromanganese to produce a low-P alloy that could be effectively utilized in the production of AHSS. The study involved conducting laboratory-scale testwork to study the efficiency of CaO-based slag systems to dephosphorize FeMn alloys. The addition of Na2O, CaF2, and BaO to MnO-CaO-SiO2 slag was considered. The test work was carried out in a 25 kW induction furnace at temperatures of 1350°C, 1400°C, and 1450°C. The P partition coefficient (Lp) remained small at <1, which is an indication that dephosphorization had not been achieved. The baseline slag, comprising 40%CaO-40%SiO2-20%MnO, reported higher Lp values. Addition of Na2O and CaF2 did not show any further benefit. Substituting half of the CaO by BaO, resulted in similar Lp values to those of the baseline slag under conditions of 1350°C and 1450°C at 30 minutes. In summary, based on the Lp values obtained, the conditions investigated with the CaO-based slags appeared to have been unfavourable for dephosphorization of FeMn alloys, as most of this impurity element remained in the alloy.

Sep 1, 2021

When a mine decides to construct surface structures close to, or on undermined ground, it is required in terms of the regulations of the Mine Health and Safety Act to obtain permission from the Department of Minerals and Energy (DME). Apart from the legal requirements, the stability of the structures is crucial as damage to the structures due to surface movements could result in loss in life, equipment and/or production. This paper deals with the rock engineering aspects of a study that was conducted on one of the chrome mines in the Bushveld Complex (BC) involving the construction of plant structures on shallow undermined ground. The paper addresses the legal requirements and guidelines regarding ground stability of surface structures placed on undermined ground and the assessment of the undermined area with regard to the following: ?sources of potentially damaging surface movements ?safe mining spans ?stability of the pillars ?effect of the loading of plant structures on underground stability. Due to the irregular layout and geometry of the pillars in conjunction with a changing surface topography, numerical analysis and not the conventional tributary area theory was used to determine the imposed loads on the pillars. In order to subject the plant structures to minimum movement, the plant should be located in areas where the pillars would remain stable, the elastic deformation of the hanging wall is minimized and hanging wall failure extending to surface is unlikely to occur. The study indicates that although the depth of undermining is shallow (between 27 m and 60 m), potential damaging surface movements are not anticipated due to the stability of the pillars, competent nature of the overlying strata and negligible effect of the plant structure loading on the underground stability.

Jan 1, 2004

By C. O. Aksoy, G. G. U. Aksoy, A. Fisne, I. Alagoz, E. Kaya

Coal produced in underground mines is transported to the surface by means of conveyor belts throughout long roadways. The combustion of belts puts a large number of employees at great risk. Underground collieries differ from other underground mines -due to the combustible nature of the product. The most prevalent cause of belt fires in underground coal mine is spontaneous combustion due to oxidation of the coal, which also enables the conveyor belt to burn over time. In 2014, a belt fire in an underground coal mine in Manisa-Soma, Turkey caused 301 fatalities. A study has been conducted on this accident for approximately 3 years, consisting of combustion tests in a purpose-built research gallery, comparison of the test results with mine records of the accident, and CFD modelling of the mine environment. The intensity of the fire was sufficient to redirect the air flow underground, causin large amounts of toxic gases to fill almost the entire mine in approximately 15 minutes. It is recommended that CFD analysis be used in planning emergency action strategies in underground mines.

Dec 13, 2023

By M. Saghaeian, R. Hejazi, V. Sheikhzadeha, A. H. Baladastian, A. Dehghani Ahmadabadi

This paper describes research done to remove apatite (phosphorus) from hematite ultrafine (70% finer than 25 micron) concentrate, recovered by electromagnetic separators at the FST Tailing Recovery Plant located in Chadormalu Iron Ore Complex through reverse froth flotation. As a result, iron and phosphorus content in magnetic concentrate (flotation feed) were 53.52% and 0.58%, respectively. Therefore, to increase the Fe content and decrease the P content of the sample, reverse flotation tests were applied. Chemical reagents used in this research consisted of sodium silicate as a depressant, sodium hydroxide and sodium carbonate as pH regulators, Alke & Dirol as fatty acid collectors and MIBC as frother. Process parameters including dosages of collectors, depressant and frother, preparation times of depressant and collectors, steps and time of frothing and pH range were selected. After doing flotation tests, in optimum condition, dosages of collectors were 1200 g/t, depressant 1200 g/t, pH in the range of 9.5 to 10, preparation time of collectors in the first step was eight minutes and at the other steps, four minutes; the number of frothing steps 4 and frothing time in each stage was three minutes. In this case, it was observed that the amount of phosphorus in the final concentrate was reduced to 0.05%, the Fe content increased from 53.52% to 61.66% and the Fe recovery achieved was 82.21%. Keywords: Iron ore, hematite ultrafine concentrate, iron and phosphorus content

Jan 1, 2020

By C. Hsu

Underground coal gasification (UCG) is becoming more popular as the reserves of good quality, mineable coal are starting to diminish, and yet the global energy demand from coal is still increasing. The purpose of this research project was to investigate cavity formation within a coal block due to the combustion reactions in the context of UCG. The cavity plays a pivotal role in the UCG process, as it is essentially the gasification reactor. Cavity formation in an in situ gasification process using the forward combustion linking method (FCL) had been investigated, and a laboratory model was created to simulate the process. The experiment was performed by drilling a U-shaped tunnel into a coal block, which was then combusted internally with air that was fed through an injection hole. A heating element (at approximately 500°C) was used to supply the required heat for combustion at the base of the injection well. The coal blocks were analysed using micro-focus X-ray tomography. The tomography results showed that the coal tended to crack along the bedding plane after a short duration of combustion, due to either the formation of clinker or the expansion of swelling vitrinite along the horizontal tunnel. The deposit was thicker at the base of the injection well compared to the base of the production well; this may have been caused by the turbulence of the air flow and the relatively high oxygen concentration at the base of the injection well. A comparison of the results with work by Daggupati et al. (2010) showed the same trend, despite the slightly different methodology applied.

Jan 1, 2014

By J. de Korte, Z. Loubser

"SynopsisThe aim of a blending stockpile is to minimize the natural variation in properties of a material. Two simulation models were written, for coneshell and chevcon stacking, and used to investigate the influence of different stockpile parameters on blending efficiency. The coneshell model is used to show that blending efficiency is highly sensitive to stacked height, with lower output variances observed for higher capacities. Output variance in both models also decreased when the stacker movement increment was decreased. For chevcon stacking, increasing stacker speed significantly increases the blending efficiencies. Increasing the length of the blending tail also reduces output variation, but this parameter would need to be weighed against the accompanying decrease in buffer capacity.IntroductionEven in the most uniform deposit of materials in nature, material properties will vary. The degree of variation can be measured, and usually resembles a normal distribution. The aim of blending and homogenization operations is to minimize the standard deviation of this normal distribution (De Wet, 1994). In general, the reduction in variation will result in a more efficient and cost-effective downstream process. Cement plants need a precise blend of raw materials to ensure desired kiln performance; boilers used in power generation are optimized for fuels of a constant specification; and even though the separation density in a coal washing plant can be adjusted, a constant product quality cannot be produced from highly variable feed (Denny and Harper, 1962). The process efficiency, product quality, and environmental compliance depend on consistency of characteristics in the material fed (Kumral, 2005) Many industries involved in"

Jan 1, 2015

By V. Oberholzer

The presence of fines (particles smaller than 6 mm in diameter) causes hydrodynamic problems in gasifiers and therefore it is of great importance to minimize the amount of fine coal in the feed. This serves as motivation for understanding coal?s breakage mechanisms, which could lead to the ability to predict the generation of fines. The aim of this project was to simulate the pulsating effect of the conveyor belt in order to investigate factors influencing the breakage. Results indicated that an increased initial particle size had an increasing effect in the amount of fines generated. Weathering had an insignificant effect on the breakage of coal. To conclude, a breakage model was developed to describe the rate of breakage out of the top size when a combination of two breakage modes is present.

Jan 1, 2009

By S-J. Park

When evaluating mining investment opportunities, one should consider the risks associated with mineral exploration and development. These are commonly classified as technical, economic, and political risks, and are accounted for in the investment decision by changing the discount rate. Thus, a company may use different discount rates associated with varying risks in order to compensate for the variability of success. The discount rate has a tremendous effect on the economic evaluation of mineral projects. Even when all other factors used as inputs for calculating the NPV (net present value) are equal, the project under consideration may be accepted or rejected depending upon the discount rate. Determining a realistic discount rate for a given project is therefore the most difficult and important aspect of cash flow analysis. It should be determined with the consideration of proper technical, economic, and political conditions surrounding the specific project undergoing economic evaluation. One key problem for determining the appropriate discount rate is that it typically depends more on subjective perception of the degree of risk or other experience factors than on a systematic approach. Thus, this study aims to identify, analyse, and document the type, role, and impact of risk factors influencing the determination of discount rates, and then to determine discount rate by using the aforementioned factors.

Jan 1, 2011