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By Franklin J. Stermole

The current financial state of the mineral industry, in general, is bad. Economic prospects for improvements in the near future are uncertain. What will improve mineral investment economics so the mining industry can return to a more normal (in terms of past experience) production level? Basically, mineral commodity prices must rise. They must rise to economically justify reopening closed mines and for management to seriously consider expansion or development of existing and new mines. With the worldwide economy depressed for more than a year now (longer for most segments of the mineral industry), supply/demand relationships for mineral commodities are such that prices are depressed-except for precious metals. In investment analysis of the economic potential of existing or new investments in any industry, product price generally is one of the key parameters having great impact on the economic viability of projects. Petroleum and synfuels industry development contracted last year for the same product price reasons that have brought mineral industry development to a standstill. Much of the new mine development activity now underway or in the serious planning stages around the world involves precious metals ore body development simply because precious metal prices are high enough now or are projected to be high enough in future production years to give overall satisfactory project economics. It will take significant improvement in nonprecious metal mineral commodity prices in 1983 to develop significant new mine investment interest except in very high grade ore body special situations. Mineral Investment Decision Making Before progressing further with the discussion of mineral investment considerations for the coming year, it should be emphasized that mineral investment decision making-like all industry or individual investment decision making does not relate just to economic considerations. Investment decision making should and generally does involve three analyses: • Economic analysis • Financial analysis • Intangible analysis Economic analysis evaluates the relative economic merits of investment situations from a profitability viewpoint based on discounted cash flow analysis of projected investment revenues and costs. Financial analysis, on the other hand, refers to where and how the funds for proposed investments will be obtained. Regardless of the project's economic potential, if you can't finance it, the project will not be done. Intangible analysis considers factors affecting investments but which cannot be quantified easily in economic terms. Typical intangible factors are legal considerations, public opinion, goodwill, environmental and ecological impacts, and regulatory or political considerations, to name a few. New mine development investment decision making in the US has been impacted heavily by intangible considerations in the past decade and will probably continue to be impacted by them in 1983. There is a common tendency in literature and management practice to interchange the terms economic analysis and financial analysis. This often leads to confusion about the rationale for investment decisions. For example, in the past year a majority of companies in all types of industries cut back budgets for new projects. Often this was done not because new project economics were unsatisfactory, but because cash flow from existing operations was reduced compared to previous years due to the recession, and debt service requirements were high from existing loans so new borrowing was undesirable. For financial reasons, in other words, many projects were shelved last year. That included some precious metal mining projects and many petroleum projects. Many other projects were shelved for economic reasons (sometimes combined with financial reasons in the case of marginal economic projects). New mine development for copper, lead, zinc, molybdenum, iron ore, and synthetic fuels are a few examples. Economic Uncertainty and Financial Considerations Mineral project analysis has always involved a lot of uncertainty with respect to determining ore grades, tonnage of producible reserves, operating and capital cost projects, and mineral commodity prices estimates. The wide swings in mineral commodity prices in recent years and the almost impossible task of projecting future prices with any degree of confidence or accuracy concerns mineral project investment decision makers. In developing a new copper or silver mine, it is not today's price of copper or silver that is relevant to economic analysis of the mine, but what the price will be during the producing years. There is no way to avoid projecting the escalation (or de-escalation) effects on revenues and costs. To analyze a project in terms of today's dollar revenues and costs implicitly assumes that escalation will not change today's project costs and revenues; or that, if they do change, the project economics will be unaffected by the changes. This often is not the best or even a realistic assumption. The inherent uncertainty associated with historical mineral price swings is exacerbated in 1983 by the uncertainty of when

Jan 2, 1983

By Kenton E. McElhattan

Financial analysts have often called National Mine Service Co. the only "pure play" company to the mining industry, meaning that an investment in NMS is an investment in the mining industry. As a leading manufacturer and supplier to the industry, National Mine Service does enjoy a close and direct relationship with mining. It is the only independent company that offers products and services that include mining machinery, health, safety, instrumentation, mine supplies, and reconditioning services for hydraulics, electronics, and machinery. But what is a positive relationship in periods of economic upturn can be eauallv as negative during the downturns. In fact, National Mine Service has felt the resounding blows of the current recession in the mining industry. Two-Fold Strategy Rising unemployment, corporate losses, bankruptcies, and mine closings in particular have directly affected NMS. But the company embarked on a strategy several years ago that included a two-fold approach to becoming less dependent upon the vagaries of the US coal industry. One strategy was to develop additional products and services for other mineral industries such as potash, trona, and salt and, where possible, apply the technology developed for the mining industry to industrial markets. The other strategy was to become a more international company. The objective was to make export sales a minimum of 10% of total corporate sales. Even today, NMS believes this is a good strategy as opposed to diversifying because its expertise is in mining, not in other areas. A review of NMS's fiscal 1982 annual report indicates that the company's strategy did begin to pay off. 1982 was a turnaround

Jan 2, 1983

By Graham J. Morgan

The following material is excerpted from a presentation Mr. Morgan gave recently to representatives of the financial community. Introduction 1982 was a period of challenge for United States Gypsum Company because of reduced market opportunity. Housing starts for the first 10 months averaged a seasonally adjusted annual rate of 1 million units, 9% below the comparable 1981 period when housing starts were the lowest in 35 years. Industry gypsum board shipments declined 9% from the already low levels of the same period in 1981. US Gypsum met the challenge with stringent cost reduction programs and aggressive action in the marketplace. In late 1981, anticipating market deterioration, the company's management adopted strategies to focus on two shortterm objectives: • Adjust operations to perform profitably in view of limited opportunities through more efficient operations and asset management. • Continue to strengthen U.S.G.'s resources and ability to take advantage of important market opportunities as the economy improves through selective expansion of production capacity in key growth markets. Concentration on these two objectives resulted in a nine month performance in 1982 that, while certainly not satisfactory by company standards, compared very favorably with that of principal competitors in terms of net earnings, margin on sales, and return on average stockholders' equity. To counteract limited market opportunities, U.S.G. focused on productivity improvement, cost reduction, expense control, and maximization of market penetration. Energy Use Improving performance encompassed all segments of operations. For example, efficient use of energy was a significant factor despite lower operating rates at most plants. Overall, in the third quarter of 1982 versus 1972, the company used 27% less energy per unit of production, a savings of $15 million in that quarter alone. These continuing improvements helped to partially offset constantly rising energy costs. A number of operations achieved superior results in the first nine months of the year compared with the same period in 1981. For example, gypsum board plants in Jacksonville, FL, and Sweetwater, TX, recorded 8% and 7% reductions, respectively, in energy use per unit of production. Paper mills in Oakfield, NY, Galena Park, TX, and Kansas City, MO, each reduced energy use more than 12%, while the Greenville, MS, ceiling products facility achieved a 16%o reduction. Safety Safety is another important element that received increased attention. U.S.G.'s safety performance over the past five years has consistently improved. In 1981 it was five times better than that of the gypsum industry; nearly 10 times better than all industry as measured by the National Safety Council; and almost 20 times better than all US manufacturing as recorded by the Bureau of Labor Statistics. In addition to human concerns, this excellent record results in significant dollar savings that directly affect company results. In 1981, U.S.G.'s pre-tax savings in claims, premiums, and related expenses were about $20 million compared to the industries in which it competes. For the first half of 1982 performance improved further, with a cumulative lost workday incidence rate per 200,000 man-hours worked of only 0.27, an all-time record. Expense Control Careful control of inventories and receivables also received special attention. As of Sept. 30, 1982, inventories were 29%, or $44 million, below the level of Sept. 30,

Jan 2, 1983

By Sohta Takatsu, Hachiroh Mizubata, Shigeki Kudoh, Kazuya Takekuni, Yoshinori Yamada

A special type of shotcrete is used to improve the performance of open-type TBM in difficult situations. The Hakamagoshi and Johana tunnels are expressway evacuation tunnels of 3.2 km and 5.1 km in length, respectively (total 9.1 km) that were excavated by one open-type TBM. The geological conditions at the sites were estimated to be good before excavation. However, 95% of the rock turned out to be two ranking orders worse than the estimated classes. Therefore, we used a special shotcrete for bad rock conditions, and succeeded in excavating the tunnel at an average rate of 270 m/month.

Jan 1, 2001

By Alexandru Corneliu Stematiu, Catalin Popescu, Radu Sarghiuta

"The tunnel sector is excavated into a rock mass heavily affected by tectonics, defined as a regional fault. The rock around the tunnel support undertakes the non – elastic deformation and gradually detaches from the rest of the non affected rock mass, moving inside of the excavated area and tending to fill up the whole space. The initial solution of using stiff support consisting in double steel ribs I12 with circular shape in the upper part and straight vertical pillars in the lower part has proved to be inadequate. Based on the calculations of the subsidence phenomena and a mathematical model, the proposed alternative support was provided by special circular steel ribs – SG-23 –that allows a limited rib deformation (by relative slip between the arch segments) in order to mobilize the contact between the rock contour and the inner face of the rib - not only for the deformed rib but also for the neighboring ribs. 1. INTRODUCTION Hydropower development of Jiu river in Romania, in the narrow gorge sector includes two diversion HPP and a small hydro plant that provides the minimum required flow downstream: CHE Dumitra , CHE Bumbesti and MHC Livezeni (Table 1. Hydropower parameters).The Livezeni intake reservoir is provided by a gated dam located 1250 m downstream of merging point between Jiul de Vest river and Jiul de Est river. The dam is equipped with three radial gates with flap gates with a span of 12 m each and the height of (6 + 3) m. The longitudinal profile of Dumitra head and the location of the gallery zone that is the subject of the paper are presented in Figure 2. Longitudinal Profile – Dumitra Head."

Jan 1, 2016

SOLUTION MINING Solution mining techniques present a means of extracting soluble ores, particularly such materials as salt and potash, from horizons which are not accessible by conventional mining. In the process of dissolving materials, it is evident that solution may be complete or partial. In general, the solution mining operations described in the following section relate to complete solution of the desired compound. Even though the solution of material is complete, there may be instances in which insoluble material is present to a large extent either as granular separated particles or as insoluble layers. The process required for obtaining the desired product involves access wells to reach the deposits, sufficient water supply to yield the production goals, and the development of an underground cavity. The process of solution mining, therefore, depends to a great extent on three factors: availability of a relatively pure strata or formation of salt or potash to be mined, access well or wells, and adequate control of the solutioning process so that enlargement of underground cavities can be fairly well delineated. Since halites represent the most general ores mined by this procedure, the considerations which follow are based primarily on the production of sodium or potassium chloride. The producing formations may be in the form of bedded evc~porites wherein the salt member may be some 30 to 500 ft thick or from salt domes in which great depths of salt occur. Solution mining has been carried out to depths of nearly 10,000 ft. The recovery of saturated brine from wells drilled to effect the solution-mining process leads to further processing. In many instances, the procedures are relatively simple and involve simple recrystallieation or fractional crystallieation, while in others more complex flow systems are required before a final product is obtained. The intent of this section is to provide information relative to the basic procedures for obtaining materials which are soluble in water and to acquaint the engineer with the various aspects of the overall problem which in many instances, may become quite complex and present numerous difficulties. The storage of fluids, particularly hydrocarbons, underground has proven to be a very important part of industry operations. Cavities formed in salt provide excellent storage facilities. The formation of well-defined controlled configurations of such cavities has been possible because of better understanding of the solution process, wide experience gained over nearly 30 yr, and improved technology in drilling and completing wells, surveying caverns, and the operation of numerous types of systems. Solution mining techniques will improve in the future. Many facets of the simple operation of pumping solvents and extracting valuable minerals require further study. Developments undoubtedly will occur to further the processes of mining by solution. In addition to those whose names appear in connection with the individual subjections which follow, a major role in assembling and processing the material in this section was played by Dr. D. A. Shock, Central Research, Continental Oil Co., Ponca City, Okla.

Jan 1, 1973

By Gary A. Almeraris, Thomas F. Peyton

This paper describes the innovative procedures employed during the construction of 3 deep shafts within the confines of New York City. The shafts, which varied in diameter from 1.8m (6ft) to 7.3m (24ft) and had an overall depth of 199m (650ft), were excavated by both mechanical and conventional methods. These were subsequently concrete lined, clad steel riser pipes installed and associated surface structures were constructed. Tricky surface rock blasting coupled with the unearthing of unexpected obstructions caused constant uncertainty during the excavation phase. In addition, the necessity of handling men and material in restricted yet deep openings required the development of a safer and more productive shaft construction procedure.

Jan 1, 1989

By S. C. Carniglia

Bayer-process alumina hydrate becomes in turn the source of a host of special products in addition to the calcines that feed aluminum reduction cells. Though relatively smaller in tonnage, specialty aluminas serve important industrial markets in an exciting and growing variety. Production methods and applications are discussed for: (1) trihydrate as flame retardant in organic materials; (2) high-surface-area transition aluminas as desiccants and scavengers, catalysts and substrates; (3) calcines for industrial ceramics, refractories, and abrasives; and (4) tabular alumina for refractories, bed supports and other uses.

Jan 1, 1977

By Harry Teicher

The subject of Specialty Silica Products could encompass a broad range of materials, some of which would be familiar to members of the Society of Mining Engineers. With the concurrence of your chairman, I have chosen to limit my remarks to synthetic materials, not including such siliceous materials as diatomaceous earth, asbestos, quartz and clays. For purposes of discussion, I have classified Specialty Silica Products into two groups -- powders and liquids -- which I will discuss in that order and which are categorized in Figure 1. The synthetic silica powders are amorphous to x-rays and are manufactured by various processes resulting in products of a wide range of physical and chemical properties, as well as functional performance and applications. Applications or functional properties are generally dependent upon such physical properties as micron-sized particles exhibiting large surface areas per unit weight and low apparent bulk density. Their presence in various systems modify surface properties. As summarized in Figure 2, they act as viscosity modifiers, flow conditioning agents, anti-slip agents, anti-blocking agents, flatting agents in surface coatings, reinforcing agents in polymers such as silicone rubber and numerous other applications. Although the various types of silicas exhibit various levels of functional performance in these end uses, they are not usually equally effective as direct replacements and I will briefly discuss the various types of materials.

Jan 1, 1974

By L. E. Mylting

Modern ash handling systems exist in considerable numbers and a great deal of design and operating experience has been accumulated, It is the endeavor of this paper to point to a number of frequently recurring problems, A general appreciation of these problems will be helpful in both design and operation of systems. The light fly ash and the heavy bottom ash present different problems, and each will therefore be treated separately. Fly ash is collected in the ducting from the furnace to the stack and beneath the mechanical and electrostatic dust collectors. The greatest amount of dust is collected beneath the mechanicals and electrostatics. Hoppers are generally provided as integral parts of the collector. Suitable valves and piping are connected to these hoppers for removal of the dust. The size and shape of these hoppers are important factors in determining frequency of handling and the capacity of the system.

Jan 1, 1958

By Peter Loehr

Full-face tunnelling machines were introduced into German coal mines 12 years ago. It was aimed to utilize these highly efficient systems to drive mine tunnels in rock so that the large demand for development work in some mines could be met. A characteristic feature of coal deposits in Germany - and particularly in the Ruhr Area - is a thick overburden strata. Access is therefore only possible through vertical shafts. A network of horizontal drivages leading from these shafts open the deposits between the different mine levels. The hardcoal-bearing formations are multi-folded and heavily tectonically stressed. Apart from a few extensive fault zones there are many single faults of different natures in the carboniferous strata. During the course of decades coal mining has penetrated to ever increasing depths. Nowadays coal is mined from depths of between 600 m and 1,200 m. The effects of ground pressure in connection with extremely varying rock strengths and high temperatures are particular difficulties which have to be overcome during drivage work. The first full-face tunnelling machines to be applied in the mines had originally bee deigned and developed for tunnelling projects. Not only the machines themselves, but also the back-up equipment had to be adapted to meet the special demands of German coal mines.

Jan 1, 1983

By Lothar Anheuser

The appearance of very large shielded softground TBM's, of 14 m (46 ft) O.D. and more, as needed for two-lane highway tunnels, calls for a thorough search of overall stability and new solutions for front support during maintenance operations in the cutting chamber. The paper deals with the development of a shield for the planned 4 th tunnel crossing under the river Elbe in Hamburg. Specific problems arise from the high water head, the shallow overburden of loose soil and the stone-bearing mixed ground. The choice of the tunneling method and the different features provided to overcome the problems are discussed.

Jan 1, 1995

By V. Svalbonas

Presently the U.S. mining industry is very conscious of costs. It is timely, therefore, to review the dominant specifications used in the industry for procuring large size-reduction equipment. These are compared with other specifications and procurement methods, such as ASME and DOD, using the criteria of resulting costs, safety/ quality, and fitness-for-service.

Jan 1, 1987

By A. J. Hendron, L. L. Oriard

INTRODUCTION Controlled blasting is used at some time during most civil engineering projects where there is rock excavation. Controlled blasting is often necessary because the blasting must take place in the near proximity of adjacent structures. In other instances, the blasting is controlled because a smooth perimeter is desired to minimize rock support and overbreak. The construction of tunnels and shafts for subways, rock excavations for foundations and the excavation of road cuts for interstate highways, sometimes require blasting operations which must be conducted in an urban environment. Unfortunately, blasting operations produce unwanted sounds and vibration along with their beneficial effects. Thus, in the writing of specifications for blasting in an urban environment, potential damage to adjacent structures by ground vibrations must be considered, possible damage to windows from airblasts must be considered, potential damage from fly rock must be considered, and the discomfort to people from ground vibrations, airblast, and noise must be taken into account. The contractor or the owner's engineer is faced with determining the maximum weight of explosives which may be detonated without damage to structures on adjacent property. If the weight of explosive is overestimated, the resulting damage to adjacent structures may result in costly losses. But, if the engineer or contractor is too conservative, and the weight of explosive becomes too restrictive, progress of the project may be curtailed and the cost of excavation will increase accordingly. The potential for damaging adjacent property is becoming more important in construction operations today. In the past, the plaintiff had to prove negligence in some states in order

Jan 1, 1997

By William F. Daly, William H. Hansmire

Installation of initial tunnel support is often the most uncertain element of work in the design of, and a contractor bidding on, construction of a rock tunnel. The risks the construction contractor and owner assume are delineated to a great extent in the technical specifications portion of the contract documents. It is intended that this paper identify current practices for specifying initial tunnel support and the impacts each case has on the assignment of risks associated with providing the initial tunnel support. Examples of recently completed tunnel designs are given.

Jan 1, 1985

By J. E. Gray

Before specifications are discussed it may be well to define the term "Mineral Aggregates." Professor K. B. Woods (1) defined "Mineral Aggregate--An aggregation of sand, gravel, crushed stone, slag, or other material of mineral composition used in combination with a binding medium to form bituminous and portland cement concrete, macadam, mastic, mortar, plaster, etc., or alone as in railroad ballast, filter beds, and various manufacturing processes, such as fluxing, etc. " This definition is too all inclusive for the purposes of this paper; therefore, this discussion will be confined to specifications for natural aggregates which means sand and gravel and crushed stone, and limited primarily to coarse aggregate which is aggregate larger than one-quarter inch in size. To the uninitiated, this may seem to be a very limited subject on an unimportant material. However, aggregates are essential in all types of construction. The tonnage and value of these two aggregates produced in the United States during 1959 as reported by the Bureau of Mines were as follows: Sand and Gravel 729,895,000 tons valued at $728,527,000 Crushed stone 581,721,000 tons valued at $824,411,000

Jan 1, 1961

By M. Jack Snyder

The problem of effective utilization of fly ash has been given wide attention for a number of years. Although the effort devoted to the problem has led to some applications of demonstrated usefulness, the full utilization of fly ash has been held back by lack of concerted research and development activity, by lack of effective dissemination to potential users of fly ash of the knowledge that is available from laboratory and field studies, and by the obvious variability of the product. Because of the variability in fly ash from one power plant to another and from time-to-time in the same plant, specifications have been set up defining compositional or property limits within which a fly ash must fall to be used in certain applications. This paper discusses the bases for such specifications and examines them in the light of recent research on the characterization of fly ash. Other limitations and restrictions on the use of fly ash and what is being done to overcome them are also discussed.

Jan 1, 1968

By R. Tanaskovic

Unfavourable climatic conditions in stopes are of significant economic and social importance due to the following reasons: - Working effect is much lower leading to decreased output and work productivity disregarding implementation of mechanization. - Manpower operating capability decreases much faster under unsatisfactory climatic conditions. Under normal climatic conditions a workman would expend much less effort in line with a shorter effective time for the achievement of identical production effects since the work would be more efficacious. The objective of study of problems and climatic conditions is to make the working environment in mines suitable for normal development of operations. Lowering of mining works to increasing depths and winning of a growing number of small orebodies over a broad area makes the problem of creating suitable climatic circumstances more complex. Mining costs are growing due to bench conditions in line with decreasing metal content in the ore, so frequently the investments required for creating favourable climatic conditions represent, in addition to the selection of mining technology, a very important parameter when making decisions regarding exploitation. As known, the basic factors affecting climatic operating conditions in mines-are: temperature, humidity and speed of air flow, implying that the climatic operating conditions are closely related to mine ventilation. Usually, the concept of unfavourable climatic operating conditions includes increased mine air temperature and humidity and low air flow velocity so that heat exchange between human organism and the working environment is impeded or reduced to minimum. Metal mines in Yugoslavia are characterized by the existence of a large number of active faces - stopes and horizons and lowering of mining operations to increasing depths, so that face ventilation solutions are more and more complex. Since its foundation (1961), our Institute is engaged in investigation of factors influencing climatic circumstances improvement of calculations for air distribution and distribution control in complex ventilation networks and study of problems related to ventilation of large volume and irregular configuration faces, as well as application of gained knowledge in our mines. The paper presents the knowledge and experience gained in the case of Lead and Zinc Mine "Trepca" - Stari Trg.

Jan 1, 1980

By John Matthews

During 1982 and 1983, it became increasingly clear that North River No. 1 Mine would have to buy a set of replacement longwall shields. Despite extensive efforts to make improvements, the shields that were in place at that time were incapable of holding the roof. North River Energy had limited experience in specifying and acquiring longwall roof supports, but a great deal of experience with our conditions and needs. We there- fore compiled a shield evaluation method that uniquely responded to our situation. The resulting system emphasized teamwork among operating, maintenance and engineering personnel. The charge from management was threefold: select shields to support maximum expected loads, optimize face operations, and pay attention to detail. Final selection was made objectively, based on all available information. We chose a 5516 KN (620 tons) support with a minimum yield load density of 760 KN/m2 (7.9 tons/ft2). This paper reviews our process of specification, design, prototype testing, and fabrication, and offers some relevant suggestions.

Jan 1, 1986

By Paul Bartos

Operations at the Sweet Home Mine transformed the mineral specimen industry, not only in the development of new innovative extraction techniques, but also in the fields of sample preparation and marketing. Principally as a result of the activities at the Sweet Home Mine, there is now a better appreciation of minerals and the market they encompass. Individual Sweet Home rhodochrosite specimens have been sold for more than $1 million, with many more in the five- and six-figure dollar range. This article is a review of the Sweet Home operation, with emphasis on its extraction techniques. District history The Sweet Home Mine is located within the Alma mining district in the Mosquito Range of central Colorado, approximately 6 km (3.7 mile) northwest of the town of Alma at the base of the Red Amphitheatre in Buckskin Gulch at an elevation of 3,440 m (11,286 ft). Other nearby mining districts include Climax, Leadville, Breckenridge and London. All are considered part of central portion of the Colorado Mineral Belt (Fig. 1).

Jan 1, 2007