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By G. Pierson

Explanations for commodity price levels (or movements) commonly focus on the fundamentals of supply and demand, otherwise they are simply assigned to speculative activity. Comparisons of metal-price histories to monetary and other economic data support the argument that the supply of and demand for money are no less important in the determination of price than are the supply and demand of the commodity itself. That these relationships should exist is evident in the price identity and they are consistent with monetary theory. The patterns developed have limited usefulness as predictors, but their recognition is essential for the construction of price scenarios for planning purposes.

Jan 1, 1997

By G. Pierson

Explanations of commodity price levels, or movements, commonly focus on the supply and demand fundamentals of the particular commodity, or else are assigned to speculative activity. Comparisons of metal price histories with monetary and other economic data support the argument that the supply of and demand for money are no less important in price determination than are the supply and demand of the commodity itself. That these relationships should exist is evident in the price identity and are consistent with monetary theory. The patterns developed have limited usefulness as predictors, but their recognition is essential for the construction of price scenarios for planning purposes.

Jan 1, 1996

By Dennis Peterson

INTRODUCTION The business arena has dramatically changed for most producers and consumers of commodities. International debt, currency shortages, political upheavals, etc., require corporations today to be sophisticated and flexible enough to change their purchasing and sales techniques in order to maximize returns. Many external factors, such as interest rates, trading partners, currency changes, and government edicts, can have an adverse effect on a company's bottom line. Totally out of a company's ability to control or predict, these. factors force the commodities based corporation to constantly re-evaluate its operating scope and domain. The principle of back-yard only operations and the laissez-faire with blinders style of management is no longer a viable way to run a business. The industrial world has been operating for the past 10 to 15 years as though there were no commodity nor raw material crisis. For developed countries the primary products sector has become marginal, whereas it was central in the first half of the century. A radical change in the method of doing business is necessary to offset a depression in the industrial economy. The risk of collapse may be heightened by a banking crisis caused by massive defaults on the part of commodity producing debtors, whether in the third world or in our own farm producing sector. The raw materials economy has become divergent with the industrial economy. This is a major change in the world economy with tremendous implications in both developed and developing countries for economic and social policies and economic theories. Basic competition issues, such as low labor costs, are likely to become less of an advantage in international trade. In developed countries these costs are going to account for a smaller portion of total costs. The total costs of automated processes are lower than those of traditional plants with low labor costs. Automation in the commodities sector eliminates the hidden but high cost of not processing at capacity created by poor quality, rejects and maintenance for product change-overs. The cost of capital will become increasingly important in international competition. Over the last ten years the U.S. has become the highest cost country in this area. Reversing the U.S. policy of high interest rates and costly equity capital should be a priority for management decision makers. In the rapid industrialization of this century, Japan developed by exporting raw materials, (principally, silk and tea), at steadily increasing prices. Germany developed by leap frogging into the high-tech industries, mainly in electricity, chemicals and optics. The United States did both. Both avenues are blocked for today's rapidly industrializing countries because (a) the deterioration of the terms of trade for primary products, and (b) it requires an infrastructure of knowledge and education far beyond the scope of a poor country. Many explanations exist for the explosion of international money flows. The shift from fixed to floating exchange rates in 1971 may have given initial impetus by inviting currency speculation. The surge in liquid funds flowing to petroleum producers after the oil shocks of 1973 and 1979 was definitely a major cause. There can be little doubt that the U.S. government deficit also played a big role. The American budget deficit has become a massive void, sucking in liquid funds from all over the world and making the U.S. the world's major debtor country. In reality, a trade and payments deficit is actually a loan from the seller of goods and services to the buyer, that is, to the U.S. From now on, the global ramifications of business will have to be treated in economic theory and business policy alike. Economic theory teaches that the comparative advantage factors of a real economy determines operative and financial policy. These comparisons -- labor costs, productivity, raw materials cost, energy costs,

Jan 1, 1990

By R. L. Virta

Common clay is a natural, fine-grained material composed of hydrous aluminum silicates. Shale is a laminated sedimentary rock formed by the consolidation of clay, mud and (or) silt. Government and legislative programs The U.S. Environmental Protection Agency (EPA) invited industry to nominate representatives to a review panel that will help the EPA develop rules to regulate air toxics from the production of brick and structural clay products. The EPA was required to establish a review panel because these regulations will significantly affect small businesses. The regulation of air toxics falls under the Clean Air Act.

Jan 1, 2010

By James P. Bennett

The successful reuse/recycling of refractory materials after removal from industrial service is limited because of contamination, the low value of spent materials, the low cost of virgin raw materials, the lack of driving forces such as regulations or taxes, and low disposal costs. Most spent refractory is disposed in landfills. Concerns over future liability for waste materials, corporate images, and IS0 14000 have helped to encourage recycling at some companies. The recycling practices and application for spent refractory materials at facilities successfully recycling used refractory materials will be discussed, with emphasis on similarities.

Jan 1, 2002

By S. T. Krukowski

Traditionally the lime industry is governed by market, location, and transportation. These factors also may act as obstacles to global market access. Lime manufacture responds to market opportunities by first focusing on location. Lime markets are diverse and widespread, and ubiquitous occurrences of limestone make development of a widespread industry possible. Lime’s low to moderate unit value restricts transporting it long distances. Other factors (including lime reactivity, dedicated container use and other liabilities) limit shipping lime far. In the past many small to medium size companies made lime for local use. Today the global aspect of the industry is ownership by few large companies producing lime for local consumption.

Jan 1, 2003

By Victor F. Hollister

Introduction Trends of successful discovery technology and psychology emerge from a thoughtful study of various companies' exploration programs. These subjective patterns can be generalized into groups of factors for discussion. Here, for convenience, factors that influence exploration success are separated into management and geologic concerns. Most successful discoveries have a demonstrably favorable management combined with a technically competent geologic input. Both are required. But the management input is decisive. Management factors include the correct definition of management's role; cost of exploration; time needed for exploration; commodity selection; and the fostering of autonomy, creativity, and confidence in the geology department. Geologic factors include imaginative technical competence (field as well as academic), correct development and use of empirical exploration or prospecting models, and dedication. Success comes to those entities that are properly managed and have technological competence. A management team that directs a company's business has been compared to a dynasty. The dynasty lays out policy and follows up with appropriate action. In that management's power is pervasive, the term is appropriate. Management's role is, however, more important. Many examples can be cited where the geologic input was impeccable. But management somehow snatched defeat from the jaws of victory, and the exploration success was turned to a third party's profit. Management Factors Management's role can be broadly generalized to four parts. These are to identify the commodities it seeks, define its part in the exploration process, develop a functioning exploration department, and have the desire to succeed. It must have confidence in its geologists and delegate to them the authority and responsibility they need to operate successfully. Head office management cannot do the thinking for a field staff thousands of kilometers away. There is no substitute for confidence and delegation of authority. Successes came to those who had the freedom to act. Motivation is a management requisite. Management's role is to prevent destructive, internecine political battles within the corporate structure. Most large US mining corporations have well known histories of political strife that have damaged their exploration efforts. Management's role must, above all, include the desire to succeed. There are cases where management has been confronted with a commercial exploration success, but their reaction is to request additional study or exploration. Perhaps the problem of bringing a commercial find into production is beyond their capabilities. But a bona fide discovery sent back for additional work commonly is lost due to that management. The cost of exploration is a factor that management must accept. A variety of studies made during the past 40 years shows the cost per discovery to be $25 million, $38 million, $200 million, or even $290 million. These figures are derived by dividing the total exploration expenditure by the number of discoveries. However, successful management dynasties have a much lower cost per discovery during their management regime. Asarco, from 1948 through 1963, had one of the lowest cost discovery rates in the world. Duval Corp., from 1948 through 1968, had comparably low discovery costs. Placer Development, from 1955, was equally successful. Western Mining in Australia has had one of the longest lived dynasties associated with exploration success. Time is vital in exploration success. Most successful exploration case histories stress sufficient time in project exploration so that the target is well tested. A large target cannot always be adequately evaluated by a few holes (strat or concept testing). Serendipity helps in exploring large targets, but it best operates in a lengthy program. Numerous case histories include pleasant surprises. But these came mostly after the 10th hole. Commodity markets are important factors governing exploration success. Management's decision to explore for a specific commodity can doom its effort if that product suffers from severe oversupply. Unquestionably, progressive copper price increases from 1948 through 1968 helped convert marginal porphyry copper discoveries

Jan 8, 1985

The Prominent Hill copper-gold deposit is located approximately 150 km north west of Olympic Dam, on the southern margin of the Mount Woods Inlier in South Australia. Its discovery in November 2001 resulted from the application of a geological model developed from geological, geophysical and petrophysical data pertaining to the Olympic Dam deposit. The discovery has dispelled the notion the Olympic Dam may be unique, and that another deposit like it is unlikely to be found. The Prominent Hill mineralisation is hosted by haematite-matrix hydrothermal breccias, which have suffered extensive iron-sericite-silica alteration and overprinting. Copper, gold, barium, fluorine, uranium, cerium and lanthanum are all intrinsically associated with the hydrothermal iron. Breccias intrude an east-west striking, fault-controlled sedimentary succession, which is flanked to both the south and north by volcanic complexes. Many similarities between Prominent Hill and Olympic Dam are documented including geological setting, mineralogy, breccia styles, and alteration. Differences relate largely to the nature of the immediate host rocks. The similarities and difference provide key data for improving exploration models for this style of iron oxide copper-gold deposit, both within the Gawler Craton as well as globally.

Jan 1, 2004

By Art Cooper

Granulation systems are customarily viewed as problem areas in metallurgical operations. The inherent risk of explosion when combining a high temperature melt with water creates a safety hazard. Separation of the granulated material from the quenching medium generally involves equipment that can have significant maintenance and operating costs. Granulation systems' reliability and availability can negatively affect the plant production. Against this background, granulation systems have been treated by design firms and producers as an add-on and a necessary evil. The technology is becoming better understood and solutions to common problems are being found. This paper will discuss typical problems in common systems, and some of the improvements that have been made, with particular reference to non-ferrous applications.

Jan 1, 2006

By Art Cooper

Granulation systems are common in the metals industry. The process of granulating slags, mattes and metals is more than a century old, and a number of different systems have been developed to accomplish this task. These systems have followed an evolutionary path, and may be characterized by common elements in terms of molten material handling, granulation methods and post-granulation processing. This paper will summarize the more common systems used in the metals industry, with particular reference to non-ferrous applications.

Jan 1, 2006

By B Mennie, R Poedjono, G Coad

PT Freeport Indonesia operates a large copper and gold mining operation near Tembagapura, Papua (formerly, Irian Jaya), Indonesia. This is a remote location with its own set of unique operational characteristics. The mining and concentrating operations typically produce a concentrate containing 2500 tpd of copper and 6000 oz of gold per day from the combined mining of a 45 000 tpd (ore) block cave operation (DOZ Mine) and a 190 000 tpd (ore) open pit mining operation (Grasberg Open Pit). The Grasberg Open Pit mine will be exhausted in 2015 at which time FreeportÆs operations will entirely underground mining methods. The Common Infrastructure Project (CIP) incorporates the elements required for the shift to underground mining at a production rate approaching 200 000 tpd. The AB Adit portion of the CIP will provide deep level access to the Grasberg Block Cave (below the Open Pit), Kucing Liar, Big Gossan, and the Mill Level Zone orebodies. Commencement of the project was September 2003. The Grasberg Block Cave is planned to start production in 2014. This paper provides details on the project scope, innovative contractual framework, advancement of mining methods throughout the life of the operation, equipment selection, manpower selection, training, geological, and socio-political conditions related to the project.

Jan 1, 2005

Throughout industry in Australia, time lost through work accidents and illness is three times greater than strikes. In 1978 in New South Wales alone, 400 workers died, 125,000 were injured, 6,000 were indust- rially deafened, and 3,800 people died of occupational cancer. It has been estimated that less than 10% of workers injured make claims for common law damages. The figure is probably in fact much lower than that. However, common law damages claims are starting to become a boom industry and employers are only now starting to see the effect of the increase in Claims. I predict that within 5 years the number of common law damages claims made will increase dramatically.

Jan 1, 1982

By R J. Holmes

The procedures and equipment used for sampling iron ore process streams have generally improved in recent years. However, there are a number of areas where significant issues still commonly occur, including sampling high capacity streams, sample cutter design and operation, division of primary increments at the secondary sampling stage, the performance of crushers installed to reduce the particle size prior to sample division, and the sample mass that is retained at each sampling stage. These issues of non-conformance with correct sampling principles are caused by factors such as increasing the speed and loading of conveyor belts to increase throughput, which changes the trajectory of the ore stream and may result in an inability of the sample cutter to handle the increased flow rate without sample loss. Failure to sample the entire primary increment stream at the secondary sampling stage is also a common issue as well as failure of crushers to provide crushed products of the required particle size due to ongoing maintenance and/or adjustment issues. These common pitfalls can all be addressed through careful attention to detail.CITATION:Holmes, R J, 2017. Common pitfalls in sampling iron ore, in Proceedings Eighth World Conference on Sampling and Blending , pp 261–264 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2017

By Rory S. McLaren

"Cost per ton as it relates to mobile underground vehicle maintenance and repair is invariably astronomical. The reason: the mechanic replaced a ten micron filter with a 250 micron filter because it appeared to be physically identical; the purchasing agent bought ""Brand X's"" filter because it was 25% cheaper- the result, a filter life 30% less; the hydraulic pump was sent for repair at a cost of $2000.00 and failed shortly after installation; pumps are failing because there is no testing equipment available in the workshop.This paper will identify a number of the common pitfalls resulting in high costs, and offer solutions to bring these costs to within acceptable limits.The following key issues will be discussed:A. Genuine parts replacement versus ""Brand X""B. Evaluating outside repair shopsC. The influence of environmental conditions on optional equipmentD. Personnel trainingE. Servicing and testing equipmentIntroductionThere is an old English aphorism, ""Look after the pennies, the pounds will look after themselves"".This paper is aimed at the pennies.Genuine Parts Replacement versus ""Brand X""High interest rates and floundering mineral prices are forcing many equipment owners and operators to purchase ""Brand X"" or ""Pirate"" parts in order to survive. ""Pirate"" part manufacturers invariably offer lucrative discounts which are most appealing to the average purchasing agent whose responsibility it is to save money. Unfortunately, in most cases, there is a tradeoff involved; when the price drops so does the quality, which can adversely affect owning and operating costs. Unless totally obvious, ""original"" or ""pirate"" part metamorphosis requires scrupulous analysis by competent individuals.Hydrostatic transmissions have been used successfully for many year s in various industries. They found their way into mobile underground loaders in the early seventies and have since become very unpopular in mining circles due to their apparent ""inherent unreliability"" and near ""prohibitive"" repair costs. The big benefit of the hydrostatic transmission is compact component packaging which enables the machine to work in very small headings."

Jan 1, 1983

By J Vann

Mineral Resource and Ore Reserve estimation is a challenging and demanding field, requiring application of professional knowledge, skill and experience of the highest order. If the many potential pitfalls are to be avoided, however, there are two other requirements which are of equal, if not greater, importance:good communication, and common sense. Estimation of Mineral Resources and particularly of Ore Reserves is almost always a team effort, involving a number of disciplines. Good teamwork requires good communication, both between team members and between the team and other parties having an interest in the process. Breakdown in these lines of communication can have far reaching effects on the project under consideration. The need to use common sense during a Resource or Reserve estimation exercise would seem to be self-evident. It is surprising, however, how often rigid adherence to procedures and methods prevails at the expense of clear thinking, usually with adverse and sometimes fatal effects on the project under consideration. This has become increasingly true as computerised methods have assumed a central role in Resource/Reserve estimation. The critical question that estimators should ask themselves at all stages of the process is: æIs what is being done sensible given the data available, what is known of this deposit and the purpose of the exercise?Æ

Jan 1, 1999

By Bert R. Oastler

BERT R. OASTLER: Born Atlanta, Georgia, October 19, 1933; B.S. Civil Engineering, Duke University, 1956; Doctor of Laws, Emory University, 1966; Bryan Honor Society; Associate Editor, Journal of Public Law. Partner in charge of litigation for Smith, Currie & Hancock Including federal and state courts, administrative boards, arbitration and negotiation. American Bar Association; American Trial Lawyers Association; Georgia Trial Lawyers Association. Practiced structural steel design at Newport News Shipbuilding & Drydock Company and building construction as an officer in the United States Air Force. Engaged in the building construction business in Atlanta, Georgia as estimator and project manager for five years. Lectured on construction litigation, arbitration and government contracts procurement law for Federal Publications, Inc., Associated General Contractors and other private entities on a nationwide basis. Served as guest lecturer on Government Contracts at Emory University and Georgia Institute of Technology, Atlanta, Georgia. Served as arbitrator in cases for the American Arbitration Association.

Jan 1, 1988

By Gary Eck, Kevin Tallent

Over the past decades, the science of energetic materials has advanced dramatically in both the fields of military munitions, as well as industrial explosives. Out of necessity, test methods to measure the explosive performance properties of these materials were developed. As would be expected, these test methods have evolved and become more sophisticated with the recent advancements in electronics and computerized technologies.

Jan 1, 1998

By T. M. Campoy, J. R. Jones

When extending the life of an existing mine in Appalachia, it is common to acquire the adjacent reserves and extend the existing mine into it. The existing mine is often renovated to accommodate the new conditions. The existing mining system and the track and belt haulage systems may he modified while the new property is integrated into the old one. All of these changes create new constraints for the mine ventilation system (MVS) that require proper planning and control procedures. This paper presents a study that was carried out for the ventilation system of a newly expanded underground coal mine in the Appalachian region. The process of correcting the ventilation system of the existing mine is discussed. That is followed by a discussion of some of the stages of controlling the expanded system. Numerical data for these steps are also presented.

Jan 1, 1994

By A. M. Wala

It is common practice in Appalachia, when extending the life of an existing mine, to acquire the adjacent reserves and extend the existing mine into it. Also, often the existing mine is renovated to accommodate the new conditions. The existing mining system and the track and belt haulage systems may be modified while the new property is integrated into the old one. All of these changes create new constraints for the mine ventilation system (M.V.S.) that require proper planning and control procedures. The authors describe and present the study that was carried out for the ventilation system of a newly expanded underground coal mine located in the Appalachian coal region. Discussed first is the process of correcting the ventilation system of the existing mine. Then, some of the stages of controlling the expanded system are discussed. Finally, numerical data for these steps are presented.

Jan 1, 1992

By V. Coetzee

Keywords: Pyrometallurgy, furnace, PGM, platinum, nickel, copper, electric smelting, six-in-line, Peirce-Smith, Impala Platinum In 1992, a paper was compiled highlighting a common-sense approach to electric smelting at Impala Platinum. Since then, the smelter complex has undergone considerable changes. Mineral economics, UG2 exploitation, and changing environmental legislation have enforced numerous process upgrades, yet a common-sense approach has always been adopted. This document details the major changes in the smelter complex at Mineral Processes (Minpro) over the past 15 years, and provides the rationale for the changes.

Jan 1, 2006