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By Jan H. Hommen

TRENDS IN MINE FINANCE Reviewing historical trends may help in dealing with future funding strategies. The first trend is the increase in the use of debt to fund corporate America. Surprisingly, when comparing that with other corporates in the global marketplace, the U.S. does not look too poorly. Japanese, in particular, but also German companies, are much more leveraged than their U.S. counterparts. Note that in Japan and Germany the government and the consumer have shown substantial restraints when it comes to credit. Not so in the U.S. where the savings rate (4%) is much lower than that in Japan (20%) and in Germany (14%). As a result, the cost of leverage is substantially lower in Japan and in Germany than in the U.S. Lower debt costs in these countries allows one to obtain more of it for the same price. The close relationships between financial institutions, corporations and governments in Japan and Germany also make the risk of leverage more bearable and understandable. Also note that interest rate volatility in these countries is more subdued. The investor base in common stock is also changing. Private pension funds have been net sellers of equities during the last few years while public pension funds have been net buyers. Individuals are basically out of the market. It is estimated that over $330 billion of equity was retired in the U.S. through 1986-1988. The reasons are well known: restructurings, buy-backs, takeovers, mergers, and buy-outs. This de-equitization is likely to continue as the cost of equity capital is higher than the cost of debt capital, even on a before-tax basis. Because there has been no market for equity since October 19, 1987, junk bonds have replaced equity capital in the corporate finance structure. The non-investor-grade borrower has access to the public markets through high-yielding debt securities that often look like senior equity. Deregulation has also provided 24-hour markets; securitization can now liquify assets that before were rusting on balance sheets; information processing and communication tools give facts that are instantaneously available, creating the need for products to cover risk and exposures unknown before the start of the information and technology explosion. Thus we now have swaps, options, futures, options on futures, caps, as well as program trading, portfolio insurance, index funds, etc. Globalization will be unstoppable. Today's environment demands it. Corporations are now global competitors, even though they may have never shipped a product off-shore. Boundaries are disappearing and impediments have been removed. Stocks can be issued in a global offering with distribution in all major financial centers of the world. The high leverage of Japanese companies has made common stocks very scarce, which with the high savings rate, makes equity capital inexpensive in Japan. If markets were perfect everyone would issue stock in Tokyo and buy it back in New York. This would certainly stop the bleeding on the balance of payments. With the deficit balance of payments in America, it is no surprise that the cost of money is expensive here. The risk-return relationship on U.S. equity is not favorable enough to appeal to Japanese equity investors. The Tokyo-market, helped by a stronger yen, surpassed New York as the most important equity market in the world. The question is, will the Tokyo market hold up when Japanese domestic consumption increases at the expense of savings? In the U.S. debt markets, the plain vanilla debenture is making a comeback after a period of absence. Commercial paper has replaced short term bank borrowings for working capital funding by larger corporations. The banks have made an interesting comeback with loan sale programs that will continue to attract borrowers. There will be a continuing

Jan 1, 1990

By J. J. Kramer, W. A. Tiller, G. F. Bolling

THE axial orientations of columnar crystals in unidirectionally solidified ingots of zone-refined zinc and tin have been examined using the techniques recently described by us.' Both metals had an initial purity of 99.999+ pct before zone refining and satisfied all qualitative guides for very high purity after zone refining. Fig. 1 presents the orientations of the columnar crystals for tin and zinc, respectively. For tin, there is a preference for grains growing in the [I101 direction, i.e., the dendrite direction.' For zinc, a weak preference for the [0001] direction is seen (a random population in the unit triangle would give equal density on either side of the 60-deg circle centered on [0001]).' There was no apparent evidence for dendritic growth in either metal. These results, and those previously reported,' confirm the recent investigation by Hellawell and Herbert of casting textures observed for zone-refined lead, zinc, and tin.4 The preferred casting orientations for these metals in both the impure and zone-refined states are given in Table I. In the experiments on zone-refined lead,' it was shown that two separate textures existed: a preferred (111) nucleation texture existed at the chill surface and a preferred (111) texture developed during solidification. Either effect is sufficient to produce the result recorded in Table I. Similarly the results recorded for tin and zinc may be attributable to either a preferred nucleation or a preferred growth phenomenon and additional experiments are required to separate these two possible explanations. Hellawell and Herbert' attribute their results to a preferred growth process and account for it on the basis of a "layer-growth" model proposed much earlier by one of the present authors.5 An equally satisfactory growth model would be that based upon anisotropic surface energies. However, both of these growth models would indicate that the preferred growth direction for very pure metals should be normal to the plane of closest packing in the metal. This is consistent for zinc but, contrary to the conclusion of Hellawell and Herbert, it is not consistent for tin since here the (100) is expected to exhibit a greater density of packing than the (110). Although tin is expected to exhibit an anisotropy of thermal conductivity, we would expect the thermal conductivity to be the same in the [1101 as the [l00]

Jan 1, 1963

By Mousa Mohammadi

Due to operational advantage of dragline in simultaneous excavation and back-filling, the equipment has gained vast importance in open-pit mining. Besides, absence of auxiliary haulage units and a myriad of other benefits are also credited in favor of excavation of muck piles by the draglines. However, the aspects of production, productivity and economics are of utmost significance in dragline operation and planning. In this light, the present paper is an endeavor to analyze availability and utilization of dragline operations. The paper presents a good amount of data for 4-draglines operating in one of the major opencast projects in India. The study reveals the trends of availability and utilization of these draglines during last 11-years. Furthermore, the study also highlights the salient reasons for loss of available hours and for idling of the draglines. Some startling information and facts have been illustrated in form of graphs and pie charts.

Aug 1, 2013

By Larry R. Fletcher

Excessive flyrock, which is blasted rock that travels beyond the secured blast area, is responsible for 25 pct of the blasting injuries that occur in surface mining. Excessive flyrock is also a frequent cause of damage to mine equipment and facilities.

Jan 1, 1986

By Walter E. Lewis, Robert L. Marovelli

Underground support has a long history as evidenced by Agricola's general description in Dc Re Metallica:1 "The timbering of these openings is done as follows: stulls are set at intervals into hitches in the hanging and footwall, and upon them smooth poles are laid continuously; and that they may be able to bear the weight, the stulls are generally a foot and a half thick. After the ore has been taken out and the mining of the vein is being done elsewhere, the rock then broken, especially if it cannot be taken away without great difficulty, is thrown into these openings among the timbers, and the carriers of the ore are saved toil, and the owners save half the expense. This, then, generally speaking, is the method by which everything related to the timbering of shafts, tunnels, and drifts is carried out."

Jan 1, 1971

By T. E. Sterner

The Bureau of Mines investigated the use of a chromatographic gas analyzer in determining the concentration of combustion products in gas produced during field and laboratory thermal oil-recovery tests. Several parameters (carrier-gas flow, cell current, sample size, and temperature) known to affect quantitative analyses were studied using a commercially available dual-column, dual-detector chromatographic gas analyzer which had been modified to provide close control of these variables. The apparatus made possible a much closer control of air-and gas-injection rates and provided adequate data for performing material-balance calculations and for determining oxygen utilization during the laboratory and field combustion tests. The chromatographic analysis also aided materially in evaluating and measuring bypassing and gas travel times and in detecting high-permeability zones that were present in the reservoir.

Jan 1, 1965

By John M. Pitt

Shear strength assessment and the associated variability in rock masses historically have been hindered by high costs and biases in laboratory testing programs. An in situ direct shear device was developed on the principle of the previous borehole shear device for soils. Using wedge action to simultaneously apply normal and shear stress to an envelope of material on the periphery of a borehole, the device develops a complete Mohr-Coulomb failure envelope. Tests performed in homogeneous materials show expected strengths and their variability equivalent to laboratory tests. However, tests in a structurally non- homogeneous coal did not display significant variability. A 38 mm diam borehole was used in this work; however, larger or smaller bore- holes may also be used within the size limits of the device. The device is employed in holes commonly drilled for rock bolt placement, at 1 to 2 minutes per test.

Jan 1, 1984

The challenges of nature for the recovery of metals for a sustainable future continue to present in diverse ways. Base metal deposits are becoming lower grade and more complex. Rare earth metal demand is soaring and must certainly be met from new sources outside of China. Precious metals have soared in value due to increased industrial usage and the importance of these metals as financial instruments. Many of the future sources of precious metals are complex and difficult to process. The field of hydrometallurgy plays an important role in providing technology for extraction of these metals for a sustainable future. Selected examples from the base, rare and precious metals fields will be used to illustrate how current developments are providing metals for our future. The recovery of rare earths by beneficiation, leaching, purification, precipitation will be described from a multi-mineral deposit in Canada. The recovery of metals from complex base and precious metal ores may be accomplished using chloride ? assisted high temperature pressure leaching. Finally, by way of example, the enhanced Galvanox? process for treatment of chalcopyrite concentrates using silver-activated pyrite as a catalyst will be illustrated. This process offers a viable alternative to the conventional smelting of chalcopyrite copper concentrates.

Sep 1, 2012

By C. L. Berrien

MANY fires have occurred in the mines of Butte in recent years, and while all have been of a serious nature, simply because they were mine fires, six of them have been especially dangerous in respect to loss of life and property, and the expense of extinguishing or controlling them. It is not my intention to discuss the relative merits of methods used in fighting these different fires because the conditions under which they occurred varied in each case, and it was not always advisable to expend the large sum of money necessary to actually extinguish them if they could he bulk-headed off from the rest of the mine. It is needless to say that everything possible has been done to check all fires at the beginning, but without success in some cases; and it has then become necessary to bulkhead all connections to them, in which state several now exist. The mine fires of Butte, or fires in any mine, may be divided into two classes, namely: Those occurring in accessible workings, and those occurring in inaccessible workings; because these two conditions govern to the greatest extent the methods of fighting fires. Accessibility and in-accessibility in the case of mine fires concern not only new open workings and old closed workings, respectively, but also the condition of the ventilation in and about those places. When a fire is accessible at the start it should not be difficult to confine it to a small area and extinguish it in a relatively short time, but when it is impossible to actually reach a fire in old filled, abandoned workings, or there is no opening by which the gases may be conducted away from the fire zone, then the time consumed in changing those conditions permits the fire to increase to such an extent that it is a long, hard fight to overcome it.

Jan 6, 1915

By W. O. Ortlepp

This note considers the most fundamental concepts of support design for deep underground openings and discusses them briefly in the context of tabular stoping and deep hard-rock tunnelling. It concludes that the conventional re-bar, mesh, and lacing methods that have been widely used in deep gold mines are quite inappropriate for the support of highly stressed tunnels. The following is suggested as the criterion for adequate dynamic support: the energy absorbed by a support unit (yielding through some acceptable limited displacement) should exceed the kinetic energy generated by the mass of rock that is intended to be retained by that unit.

Jan 1, 1995

By C. C. Anderson

"While conducting investigations in connection with the helium program of the Bureau of Mines, the Cryogenic Laboratory has improved an apparatus for the rapid and accurate determination of the helium content of natural gas and gaseous mixtures derived from that source. The separation of helium is effected by the use of activated coconut charcoal which, when cooled to liquid-air temperatures, absorbs the nitrogen and other constituents of the gas, leaving the helium in a. spectroscopically pure state. This absorptive property of activated charcoal was discovered- by Dewar3/ in 1875. Several years later, while conducting their original researches on helium in natural gas, Cady and McFarland employed the charcoal method for the absorption and removal of the common constituents of natural gas and constructed an efficient apparatus in which this operation could be effected.4/ Shortly after initiating the government's helium activities during the World War period, the Bureau of Mines adopted, with Minor modifications, the Cady and McFarland apparatus and method of analysis. Seibel.5./ described this modified apparatus and method of procedure as part of a publication on helium-bearing natural gas. Subsequently, the Bureau's apparatus for helium analysis has been simplified and improved to facilitate more rapid and positive operation. The apparatus and method of procedure now being used by the Bureau of Mines Cryogenic Laboratory arc described in this paper.The personnel of the Bureau of Mines Cryogenic Laboratory has improved and brought the helium apparatus described herein to its present state of perfection. The writer's contributions have been-of minor importance, and he wishes to give the various members and former members of the laboratory staff full credit for the improvements they have made. He also desires to express his appreciation for suggestions and criticisms offered during the preparation of this paper to the following members of the Petroleum and Natural Gas Division, Bureau of Mines, which now includes the Amarillo Helium Plant and Cryogenic Laboratory: H. A. Cattell, chief engineer; C. W. Seibel, supervising engineer of the Amarillo Helium Plant; W. M. Deaton, chemist-in-charge of the Cryogenic Laboratory; and H. S. Kennedy.The quantitative determination of helium in a gaseous mixture is accomplished by the removal of the other constituents from the sample, either by chemical or physical Means, leaving only the helium which can be measured directly. Chemical methods, when applied to natural gas, require the burning of the hydrocarbons in oxygen, the, absorption of the resulting carbon dioxide in a caustic solution, the removal of the excess oxygen in a suitable solution such as an alkaline pyrogallate, and the elimination of nitrogen by sparking or by combination with hot calcium or magnesium.. Such procedures are very slow and tedious compared with the physical method which employs the absorptive property of activated charcoal to effect the separation of the other constituents from the helium."

Jun 1, 1934

Gentlemen.-The Institute was founded 54 years ago "with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained," At least once a year it is well to take stock of our assets, review our performance and determine how well we are now carrying out the purposes of our Founders. There can be no question as to the work the Institute has done and is doing in promoting the arts and sciences in the fields of mining and metallurgy. One needs only to contrast the methods, the labor and the costs of a half century ago with those now to visualize how far we have gone in the development of accurate technology and sound economics in mineral and metal production. The great mines, mills and smelters of the present, handling individually thousands of tons per day, would' have been impossible except for the accumulation of knowledge, the development of theory, and the improvement in practice that has characterized the period since the foundation of the Institute. The United States has prospered in the last half century greatly, and this has been due not merely to the possession of great natural resources, but to these resources being reduced to possession and put to work. The absence of customs barriers and the freedom of trade across the whole width of this great continent has been an important factor in the growth of our wealth. Unrestricted interchange of goods has permitted each citizen to draw on the resources of the whole country. However, these are but subsidiary causes of prosperity. The free interchange of scientific and technical data, by making the whole body of facts and theory available to each worker, has made this quick and unrivaled development possible. In promoting this free trade in knowledge the Institute may claim a large place without fear of denial. The .72 volumes of TRANSACTIONS, the special volumes, the bulletins and the other publications that have been issued, include a store of knowledge of the arts and sciences related to the production and use of metals and minerals not duplicated elsewhere. The large list of foreign members-1746 in number-few of whom ever have opportunity to attend meetings and all of whom derive their main benefits from membership through the pub-

Jan 1, 1928

By T. M. Russell

"Face mapping is a simple but invaluable means of geological and geotechnical data acquisition whereby intact rock properties, rock mass properties, discontinuity properties, and structural orientation can be assessed. Although traditionally done via direct contact with the mapping face through techniques such as line mapping or window mapping, remote face mapping using various digital techniques has become increasingly popular in recent years. Sishen is a large open pit mining operation requiring a comprehensive geotechnical data-set to evaluate pit wall design and stability with the necessary level of confidence. Geotechnical borehole data, face mapping data, geotechnical laboratory testing data, and implicit structural models provide the main sources of this information. Although a large geotechnical borehole database has always been maintained at the mine, face mapping has in the past been restricted to sporadic and isolated stability assessments. In 2013 the mine acquired a terrestrial laser scanner with the resolution, photographic capabilities, and software required to carry out geotechnical face mapping. A face mapping procedure was set up based on accepted face mapping methods, the data requirements of the mine, and capabilities of the laser scanner system. Mapping data obtained from the scans was integrated into the Acquire geological data management system, a purpose-designed structured query language (SQL) database system used for storing the mine’s geotechnical data. Within the geotechnical design process, having face mapping data available has improved confidence in the properties of the rock mass and structural environment, allowing for better definition of geotechnical design sectors. Overall, the face mapping and geotechnical analysis features of the terrestrial laser scanner in use make it an invaluable geotechnical data capture tool, provided a system is in place to store mapping data in a manner that allows for meaningful rock mass and structural information to be produced. IntroductionFundamental to the geotechnical design process is the acquisition of a reliable and complete geotechnical data-set. Geotechnical data acquisition will typically commence during the early stages of a project and continue well into the operational life of the mine, with the data confidence progressively increasing as the amount of data captured increases. Sishen mine currently bases all open pit geotechnical designs and geotechnical risk assessment on geotechnical borehole data in conjunction with interpreted structural models. Boreholes are logged and the data is captured in an ongoing process. This process forms the initial step in the geotechnical design and risk assessment process whereby the raw data is used to classify the strength properties for each lithology, provide inputs for geotechnical block models, and ultimately provide the inputs for slope design analyses. To date, borehole data has provided the only largescale, organized data-set for input into geotechnical analyses at Sishen. Although borehole data is the best and most comprehensive form of geotechnical data, there are some shortfalls that can be addressed by other data collection methods. These shortfalls are as follows."

Jan 1, 2018

PAPERS : 1 COMPUTER AIDED DESIGN OF MINE WATER MANAGEMENT - Z KESSERU 2 THE HYDROGEOLOGICAL PROBLEMS OF GROUNDWATER PROTECTION IN MINING REGIONS - V A MIRONENKO 3 WATER MANAGEMENT OF THE MAE MOH PROJECT -òò SIRI CHITCHOB 4 WATER MANAGEMENT AND WATER TREATMENT AT GOLDPN CROSS - M P A WILLIAMS

Jan 1, 1988

By A. Aaltonen, S. Paloranta, H. Myllykangas

A property based dynamic model of flotation was built and validated for training purposes. The model is based on the work of the AMIRA P9 project. The recovery of each particle with composition and size is calculated in a given simulation step. The model takes into account machine and operational parameters such as air flowrate and froth height. The model was created using fullscale test data on Pyhlisalmi Cu-Zn-pyrite ore with flotation kinetics of multiphase particles determined. Simulation and validation shows that model can predict the dynamic behavior of the process accurately enough for training purposes.

Jan 1, 2009

How Particles Stick to Bubbles - The Influence of pH and Hydrophobicity in Flotation

Sep 13, 2010

By Jorge Alberto Soares Tenório, Viviane Tavares de Moraes, Denise Crocce Romano Espinosa, Franco Alves Lavacchini Ramunno

"The traditional process for recovery of metals from waste electric and electronic equipment (WEEE) usually involves pyrometallurgical processing. However, the application of this technology to processing waste printed circuit boards (WPCBs) might lead to the formation of dioxins and furans, due to thermal degradation of flame-retardants and polymeric resins present in the board substrate. Therefore, this paper proposes a hydrometallurgical route for the recovery of copper. The acid leaching behavior of copper has been investigated at three different temperatures (25°C, 50°C and 75°C) with and without the addition of an oxidizing agent (hydrogen peroxide - H202). The dissolution kinetics for acid copper leaching was calculated based on chemical analysis by ICP-OES (Inductively Coupled Plasma - Optical Emission Spectroscopy). At 50°C with 1 mol/L H2S04 added 10 mL H202 (30%) each half hour under pulp density of 1 g I 10 mL, 100% of copper was extracted after 3 hours. The dissolution kinetics of copper with H2SO4-H2O 2 followed 1 - (1 - X)113 =Ket, i.e. chemically controlled reaction model.IntroductionThe information regarding the generation of waste electric and electronic equipment (WEEE) are still difficult to obtain because the estimates should take into consideration the historical production and sale of various products and the rate at which they reach the end of their life cycle, whose duration depends on the behavior of consumers [1]. Thus, the estimated overall WEEE generation varies between 25 and 50 million tons each year, which corresponds to more than 5% of all municipal waste generated [2], and this amount will increase at a rate of 3 to 5% per year, approximately three times faster than other individual types of waste [3].Printed circuit boards (PCBs) are essential parts of electric and electronic equipment (EEE), being found in virtually all electronic products, as well as in weapons systems [4]. A PCB is a basic component, which consists of a board where copper tracks are deposited. While the board behaves as an electrical insulator, the tracks connect electrically the various components attached to the board [ 5]. In addition to glass fibers, paper and resins, the PCBs contain significant amounts of metals, such as copper, iron, nickel, lead, stain, silver, gold and palladium [6]. In general, the weight fraction of metal is around 28% and the remainder of the boards is composed of plastic (19%), bromine (as flame retardant - 4%) and ceramic material (49%) [7]."

Jan 1, 2014

By B. D. Cullity

A distribution of residual stress after plastic elongation is proposed, in which the bulk of the material is strained in compression and a very small portion in tension, This distribution is shown to account both for the X-ray observations and for the effect of plastic straining on magnetic losses in silicon steel. The regions left in compression are tentatively identified with the interiors of the sub-grains revealed by the electron microscope. THIS paper is concerned with the general problem of the nature of the residual stress which is produced in metals by plastic elongation. A particular stress distribution will be suggested which accounts for the main X-ray diffraction observations which have been made. It will also be shown that certain magnetic measurements made on silicon steel can be understood in terms of this stress distribution. X-RAY OBSERVATIONS Uniform straining of a crystal lattice (macro-strain) causes a diffracted X-ray beam to shift its position, and nonuniform straining (microstrain) causes line broadening. If a bar of metal is plastically elongated in the longitudinal x direction and then unloaded, diffracted X-ray lines are observed to be both shifted and broadened.'-= Although the observed line shift indicates the presence of macro-strain, experiments have shown that no macrostrain, in the usual engineering sense of the term, exists.5"7 For example, removal of a layer from one surface of a stretched and unloaded bar does not produce curvature in the remainder of the bar 5'7 Fig. 1 shows the variation of lattice strain in the x direction, as determined from X-ray line shifts, with the applied stress in the same direction. The curve ABC is the normal stress-strain curve of the material, AB being the elastic portion and BC the plastic. In the elastic region AB, the strain measured by X-rays, called the lattice strain, and the strain measured mechanically are both proportional to the applied stress, and both return to zero when the applied stress is removed. Above the elastic limit the lattice strain would be expected to continue to increase along the line BD. Actually, it increases less rapidly with respect to stress, or even decreases, as shown by BE. If the applied stress is then decreased, the lattice strain decreases along EF, which is parallel to AB. As a result, there is a compressive residual lattice strain FA after unloading. STRESS DISTRIBUTION. Since a stretched and unloaded bar does not contain macrostress, it follows that the observed line shift must be due to a special distribution of mi-crostress. Such a distribution is shown in Fig. 2, which shows the variation of the stress u, across a stretched and unloaded bar. The material is assumed to consist of two kinds of regions: regions C, stressed more or less uniformly in compression, comprising the bulk of the volume of the material and responsible for the observed diffrac-

Jan 1, 1963

By Homero Delboni, Mauricio Guimarães Bergerman

"At the regrind or secondary grinding stages of metal ores, usually the concern about the energy efficiency is extremely important. In general, the specific energy consumption at this stage is higher than in the primary stages of grinding. In addition, it has been observed a tendency of finer grinding in the new projects of metallic ores, due to the finer mineral liberation, which leads to an increasing capital and operational costs. In Brazil, during the last 10 years, regrind P80 sizes of approximately 40 to 20 ?m have been necessary in all new iron and copper plants. The use of conventional ball mills, adequate for primary grinding, can result in low energy efficiency with products below a P80 of 50 ?m. This paper presents an overview of the regrind circuits in Brazil that operate with vertical mills and the results of industrial surveys at selected vertical mill circuits. Where possible, comparison is made between the plant results and the design criteria and laboratory regrind tests used for the mill sizing."

Jan 1, 2014

By T. V. Swaminathan

Monazite sand is normally processed by, the caustic soda route to produce mixed rare earths chloride, thorium hydroxide and trisodium phosphate. Bulk of the mixed rare earths chloride is used for the preparation of FC catalysts. Recently some of the catalyst producers have shown preference to cerium depleted (lanthanum enriched) rare earths chloride rather than the natural rare earths chloride obtained from monazite. Therefore, a process for producing cerium depleted rare earths chloride, cerium p thorium and uranium from Rare earths + thorium hydroxide obtained by treating monazite based on stepwise hydrochloric acid extraction, was developed in our laboratory. The process involves drying of the mixed rare earths-thorium hydroxide cake obtained by monazite-caustic soda process followed by stepwise extraction of the dried cake with hydrochloric acid under specified conditions.

Jan 1, 1989