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By Douglas B. Silver

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

Jan 8, 2017

By Ren Bryce

The ninth annual Mineral & Metallurgical Processing Division (MPD) student poster contest was held in February at the SME Annual Conference & Expo in Minneapolis, MN. A total of 33 students presented their work at the contest. The competition began in January when the students submitted a one-page abstract for judging. In February, they prepared and presented a poster that explained their research. A panel of judges went to each student and listened as the students explained their research in five minutes. The students worked hard at their research and then set aside time to complete all the necessary steps to enter the contest. The MPD recognizes the effort required to enter and, as a result, provides monetary rewards to all participants. As in past years, there are separate levels of competition for undergraduates and graduates, and the prizes are designated accordingly. At the graduate level, first place receives $1,000, second place $500, third through seventh $200 each, and all others $125 each. At the undergraduate level, first place receives $1,000, second place $500, third place $250, and all others $125 each.

By Qingqing Huang, Aaron Noble

The Mineral & Metallurgical Processing Division (MPD) of the Society for Mining, Metallurgy & Exploration held the first MPD Student Video Contest during the spring of 2021. The event showcased the work of 18 graduate and undergraduate students from several U.S. and international institutions. The contest began in January when students submitted a onepage abstract for judging. Over the next several months, they developed a three-minute video that further explained their research findings. Both the abstract and video were evaluated by a panel of judges, and the top-placing participant was recognized at an MPD virtual event held on June 10.

Sep 13, 2021

By Qingqing Huang, Mohammad Rezaee

The Mineral & Metallurgical Processing Division (MPD) of the Society for Mining, Metallurgy & Exploration held the 12th MPD Student Poster Contest on March 2, 2022, during the MINEXCHANGE 2022 SME Annual Conference & Expo. The event showcased the work of 32 graduate and undergraduate students from U.S. and international institutions. The contest began in January when the students submitted one‐page abstracts for judging. In February, they prepared and presented posters that explained their research, and each student had five minutes to explain their research to a panel of judges during the conference. Recognizing the students’ efforts in working hard on their research topics and setting aside time to complete the necessary steps to enter the poster contest, the MPD provides monetary rewards to all participants. For graduate students, first place receives $1,000, second place $500, and third through seventh places $200 each, and for undergraduate students, first place receives $1,000 and second place $500. The main authors of nonplacing entries receive $125 each. Participation in the contest includes a free ticket to the MPD Luncheon, where the winners are announced.

Nov 22, 2022

By Ora H. Rostad

Veins containing silver and gold values, with some associated values in copper, lead, and zinc, were discovered in 1890 by Will Kirwin in what was later designated the Kirwin mining district situated on the North Fork of the Wood River, about 56 km (35 miles) west of Meeteetse. (See Fig. I.) After considerable prospecting activity, including the driving of several short adits on veins, most of theclaims in the district were consolidated into two ownerships. One was held by the Galena Ridge Mining Co. which was organized on Nov. 18, 1902. The other was held by the Shoshone Mountain Mining Co. which was organized on Mar. 23, 1903. During the period from 1903 to 1907 inclusive, the two companies continued exploration on veins in their respective areas. The major exploration-development activity for the Galena Ridge Mining Co. was the driving of the Galena Ridge crosscut adit for 709 m (2327 ft), to cut veins at depth which had been explored by short adits high on Galena Ridge. Shoshone Mountain Mining Co. concentrated their work on the Bryan and Pickwick veins. Neither of the companies found ore that was rich enough to sustain profitable operations in that remote locality. Most of the major exploration and development activities were stopped in late 1907. A major snowslide in February 1907 killed three people and destroyed several buildings and may have contributed to discouragement in the area. From 1908 to the early 1920s, only minor exploration work was done. Galena Ridge Mining Co. was dissolved Aug. 5, 1922, and Shoshone Mountain Mining Co. was dissolved on Mar. 23, 1923.

Jan 1, 1991

By Ora H. Rostad

Some gold production was obtained from placer deposits in Puerto Rico during the period of Spanish colonial rule, but most of the gold was produced prior to 1536. There had been no significant hard rock mining, other than in quarries for road metal or construction purposes or for raw materials to make cement, prior to 1954 when the government of the Commonwealth of Puerto Rico recognized that changes in the mining code were necessary to stimulate exploration for metalliferous ore deposits. The Puerto Rican Legislature passed an act (No. 6), which was approved on Oct. 6, 1954, that reiterated that the title to all "commercial minerals" is vested in the Commonwealth of Puerto Rico. The act provided for the establishment of a Mining Commission, stipulated the power% with which the Mining Commission was vested, and provided that no one may dispose of "commercial minerals" in Puerto Rico without a Commonwealth grant issued on its behalf by the Mining Commission. Act No. 6 also provided for prospecting permits, mining leases, and grants. The Mining Commission, by authority granted to it by Act No. 6, adopted regulations effective Nov. 21, 1957, relating to prospecting, leasing, and producing commercial minerals in Puerto Rico. Royalty rates were also specified for various types of deposits at different annual tonnage production levels.

Jan 1, 1991

By Victor F. Hollister

This section on case histories of discoveries of volcanic-associated and volcanogenic massive sulfide deposits is divided into a preliminary discussion of models and then into three parts: Kuroko- type, Anyox-type, and shale-hosted. The separation is made to accommodate the use of exploration models, and these may not coincide with genetic models discussed in the literature. The exploration models grew as knowledge was gained concerning ore guides and ore controls in the volcanic-related deposits. The evolution of the genesis of massive sulfide deposits in volcanic terranes from a replacement to a syngenetic hypothesis in the 1950s and 1960s necessitated changes in exploration approaches in ore search. The acceptance of a syngenetic origin for conformable or concordant sulfide masses led to more widespread adoption of stratigraphic ore guides. 'The occurrence of epigenetic stringer ore with and stratigraphically below many conformable massive sulfide deposits did not diminish the importance of stratigraphic ore controls. Proximal conformable sulfide masses were formed near their seafloor hot spring source and normally are underlain by epigenetic sulfides: whereas. distal conformable sulfide masses were deposited away from the hot spring and may have no associated feede; zone. Industry groups that early recognized the syngenetic nature of volcanogenic massive sulfides were responsible for discovery of some of the large and economically significant deposits. Ultimately, the rest of the geological profession accepted the leadership of the early iconoclasts.

Jan 1, 1991

By McDonald E. Wrenn, Narayani P. Singh, Victor E. Archer, Ceno Saccomanno

Fourteen uranium miners' lungs from Colorado plateau were collected at autopsy and the concentrations of 238U, 234U and 230Th were determined by radiochemical procedures utilizing solvent extraction - alpha spectrometric techniques. The uranium and thorium isotopes are in near equilibrium with average concentrations of 238U, 234U and 230Th being 89.3, 95.2 and 91.1 pCi/kg respectively. The combined average radiation dose rate to lung from these three isotopes is about 24.2 mrad/year at death excluding the unmeasured contribution from the 226Ra and daughters. The average concentration of 230Th is about 65 times higher than the mean concentration of 230Th in lungs of non-miners dying at comparable ages from the same region.

Jan 1, 1981

By Victor F. Hollister

This section includes examples of discoveries of Kuroko- and Anyoz-type massive sulfides, and shale-hosted, zinc-lead deposits, and describes exploration models for each group of case histories. Exploration or empirical models can differ from genetic models, because ore guides and controls are emphasized in exploration models. Genetic models may form the scientific basis for exploration or prospecting models, although factors that are important to the localization of ore are stressed in exploration models. The paper by Sato (abstracted herein) on Kuroko deposits can be used as a general exploration guide for that type of deposit. It is clear, however, that no unambiguous stratigraphic control for Kuroko-type ore is given in the Sato paper. The paper by MacIntyre (an excerpt herein) describing Gataga, Midway, and Windy Craggy includes most of the elements of the shale-hosted and Anyox models. Although more recent work by the Geological Survey of Canada has modified the Windy Craggy stratigraphy, the Anyox model as applied to Windy Craggy is well described in the MacIntyre (1983) paper. Discoveries of ophiolite-, Ducktown-, volcanic-associated Ni- Cu-, and Besshi-type deposits are not included in this section. Conformable massive sulfide deposits are generally assumed to be syngenetic. Sulfides in the crosscutting feeder zones, however, are classed as epigenetic. Therefore, volcanogenic massive sulfides can contain both a syngenetic and an epigenetic component. Vital to the development of the epigenetic component is a heat source that propels the convection cycle that forms both components. In all massive sulfide discoveries described in this section, it is assumed that a volcanic magma fueled the hydrothermal fluids.

Jan 1, 1991

By Charles F. Herbert

The waves of prospectors who struggled across the wide Alaskan wilderness between 1898 and 19 10 came close to but did not actually find the rich copper/zinc/silver deposits strung out along 161 km ( 100 miles) of felsic schist in the remote Brooks Range of northwestern Alaska. They had heard rumors of gold in the valley of the Kobuk River, so they skirted the Arctic ice pack in the Chukchi Sea and, in a force at least 800 men strong, ascended the Kobuk River in 1898. Twenty-eight placer mining camps were established but only a handful survived for more than a few years. One of the placers that died rapidly was Ruby Creek. A map showing the location of Alaskan mineral deposits is given in Fig. 1. The Ruby Creek miners, disappointed with the scarcity of gold in that creek, followed copper-bearing float to two places where the float was especially plentiful. Pits, a short adit, and a shallow shaft uncovered copper carbonates, bornite, and chalcopyrite in fractured limestone but the remoteness of the district blocked efforts to sell the claims or to raise capital for development. Shortly after 1906, the copper prospects were abandoned and, except for an account published in 1913 by the US Geological Survey, they were forgotten, as were the names of the prospectors.

Jan 1, 1991

By R. L. Brown

The Buchans mining district is located roughly at the center of the island of Newfoundland and contains some 18 separate mineral deposits. The first of these deposits was discovered in 1905, the latest discovery having been made in 1979. To the present (1983), some 16 Mt (17.7 million st) grading 1.33% Cu, 7.5% Pb, 14.5% Zn, 115 g/ t (3.7 oz per ton) Ag, and 1.4 g/t (0.04 oz per ton) Au have been mined. Mining operations are now largely terminated, but a few hundred thousand tons of economically marginal reserves may be mined in a salvage operation. The Geological Association of Canada Special Paper No. 22, "The Buchans Orebodies, 50 years of Mining and Exploration," contains papers which describe the history, geology, and the application of evolving geological concepts in exploration. Papers by Neary, Swanson, and Thurlow and Swanson in that volume are topical to the present discussion. Successful exploration techniques at Buchans included physical prospecting, utilization of the state-of-the-art geophysical techniques, saturation diamond drilling which was made possible by the high gross value of the existing ore, and, since 1955, diamond drilling directed by fairly well understood geological parameters. The record of discovery started in 1905 when the Buchans River deposit was found by Matty Mitchell, a prospector employed by the Anglo- Newfoundland Development Co., a British company which owned mineral rights over a very large area in the Red Indian Lake-Exploits River drainage system.

Jan 1, 1991

By Paul G. Schmidt

Exxon Minerals Co. was exploring for mineral deposits in Precambrian terranes of the US portion of the Lake Superior region in the late 1960s. Exploration drilling and other activities had been concentrated on massive sulfide prospects in northeastern Minnesota, but general exploration studies and competitor scouting were conducted in other areas of the region. These activities drew attention to Wisconsin in 1969 when it became apparent that Bear Creek Mining Co. had made a discovery near Ladysmith in the northwestern part of the state. Observation of their drill hole pattern suggested that a massive sulfide deposit, since named the Flambeau deposit (Schwenk, 1977), had been found. With this background, Exxon initiated an exploration program for Precambrian massive sulfide deposits in northern Wisconsin in 1970 (Figs. 1 and 2). Northern Wisconsin is extensively mantled by Pleistocene glacial drift and bedrock outcrop is sparse. Other than iron mines in the extensive iron formations along the Wisconsin-Michigan border and Jackson County, no significant mineral deposits were known in the Wisconsin portion of the Precambrian Shield until the discovery of the Flambeau deposit. Until the mid-1970s, the only specific published literature on the Wisconsin Precambrian consisted of old outcrop locations and descriptions in journals of the Wisconsin Geological and Natural History Survey (Chamberlain, 1882; [ ] Weidman, 1907; Hotchkiss, 1915) and the summary maps of Dutton and Bradley (1970).

Jan 1, 1991

By Julian Boldy

The discovery of the Delbridge massive sulfide deposit in the Noranda district of Quebec resulted from an appreciation of the significance of a mercury leakage haloas a lithochemical pathfinder to blind ore, coupled to its location relative to a geologically inferred ore-bearing horizon within complex volcanic stratigraphy. Systematic sampling of microfractures present in outcrops delineated a diagnostic anomaly, drawing attention to an area considered prospective for buried ore. The massive sulfide deposit was subsequently found to be blind and topped at the 107-m (350-ft) level. This case history is presented in the context of its time and was the first volcanogenic ore deposit to be discovered utilizing mercury as a pathfinder in the Canadian Precambrian. The case history also illustrates that the practical application of an innovative technique coupled to a new geological interpretation can result in success, even on a property that was centrally located in a mining district and had undergone intensive exploration efforts over a 38-year period.

Jan 1, 1991

The Golden Grove Project area is located 220 km (137 miles) east of Geraldton in Western Australia (Fig. 1). The project is a joint venture involving Amax Exploration (Australia) Inc. (Amax), Electrolytic Zinc Co. of Australasia Ltd. (EZ), and Esso Exploration & Production Australia Inc. (Esso), each with 31 116% interest, and Aztec Exploration Pty., Ltd. (Aztec), with a 3 1/2% carried and a 3% contributing interest. The venture covers two significant volcanogenic massive sulfide deposits and some 40 km (25 miles) of highly prospective Archean volcanics. During the course of the past 12 years (to 1983), all four companies were responsible for operating the project at one time or another and all influenced the discoveries. The Gossan Hill and Scuddles deposits are typical examples of volcanogenic massive sulfide deposits associated with Archean explosive submarine acid to intermediate volcanic complexes. They are located in the northwesterly trending Yalgoo greenstone belt of the West Australian Archean Shield. Gossan Hill, located in 1972, is essentially a copper deposit with minor zinc lenses; to date, 97 diamond holes have delineated a geological resource* estimated to contain 13 Mt (14.3 million st) of of 3.4% Cu and 13 g/t (0.38 oz per ton) Ag in the main lenses with minor lenses totaling 2 Mt (2.2 million st) of 3.7% Cu and 17 g/t (0.49 oz per ton) Ag and 1.7 Mt (1.9 million st) grading 1.5% Pb, 14% Zn, and 87 g/t (2.8 oz per ton) Ag. Scuddles is a zinc-copper deposit with gold and silver credits. It *Resource estimate provided by Esso for inclusion in Aztec Exploration Pty. Ltd. 1982 Annual Report was discovered in 1979 and, to the end of 198 1, had been delineated with 42 diamond holes. On the basis of this drilling, a geological resource* of 26 Mt (28.7 million st) has been estimated in three coalescing lenses. The lenses comprise 7.5 Mt (8.3 million st) of 2.1 % Cu, 12 g/t (0.35 oz per ton) Ag, and 0.3 g/t (0.009 oz per ton) Au; 7.6 Mt (8.4 million st) of 0.4% Cu, 9.9% Zn, 73 g/t (2.3 oz per ton) Ag, and 0.7 g/t (0.02 oz per ton) Au; and 1 1.0 Mt (1 2.1 mil lion st) of 1.1 % Cu, 9.3% Zn, 8 1 g/t (2.6 oz per ton) Ag, and 1.5 g/t (0.044 oz per ton) Au. Readers are referred to Frater (1978) and Harris et a). (1982) for a more detailed geological account of these deposits.

Jan 1, 1991

By Donald E. Ranta

Many portions of the mining industry are under intense pressure to reduce costs while commodity prices languish. In response, global Internet-based marketplaces to deliver business-to-business (B2B) e-commerce solutions are being established to reduce costs and improve efficiencies across the mining industry supply chain as well as with customers. Over time these marketplaces will likely evolve to create an integrated supply chain solution, layer in value-added services, and develop mining community portals with industry content. Significant opportunities to help reduce costs and create value are available in mining e-procurement as well as in on-line product sales. The supply chain for the industry is highly fragmented and many mining companies have numerous inefficiencies in procurement. An e-procurement marketplace (or "exchange") can immediately address these inefficiencies and offer numerous benefits to buyers and suppliers. These benefits include improved sourcing options, inventory cost reduction, transaction cost reduction, access to value-added services, lower customer and supplier acquisition costs, improved reach, and improved information flows.

Jan 1, 2001

By M. K. Rizkalla

This paper discusses the time-dependent behaviour of rock when it involves the presence of several layers of rock strata in the vicinity of mine openings, mining in sequences and the placement of backfill. The paper describes numerical techniques which proved useful when such situations are encountered in practice. The model is elastoviscoplastic. At given time stations, short term loading or changes can be made to the creep behavior of the rock. The modelling technique is first described and is followed by simulations of stresses and displacements in a potash mine with the primary objective to demonstrate the effect of such aspects as mining and fill sequences in 3-D. This involves cutting finite elements representing the strip of the mining face and simultaneously filling those elements representing the newly placed fill. The stiffness of the fill varies with the degree of compaction at each point. In this way, the effect of the time of fill placement, the gap between the top of the fill and the back as well as the degree of compaction are simulated. The second example is a 2-D problem simulating the long term effect of backfill, as a material compacting with time, on the settlement of the layers above it as well as the closure of the room.

Jan 1, 1996

By Ian Martin

A precious metals refinery’s switch to personal computer-based, three-dimensional piping design saved many hours in the design of a South African precious metals refinery. Bateman Minerals and Industrial provided engineering, procurement and construction management services for Impala Platinum Limited-Refineries’ new $60 million refinery in Springs, South Africa. This project is one of the largest platinum refineries in the world. Bateman evaluated a new design method during this project that involved developing a three-dimensional model for the project. The new method saved time by reducing the man-hours required to generate complete project documentation, including plans, sections, isometrics and material takeoffs. The new method also saved design and construction time by allowing designers to detect clashes before construction began.

Jan 1, 2000

By Mahmoud Sepehrmanesh, Verya Nasri, Maziar Partovi

"This paper presents an assessment of the impact of tunneling and its associated risks on pile foundations located in the influence zone of tunneling operation. Tunneling in proximity of pile foundations introduces deformations in piles and in turn induces additional axial and bending forces. In modern mechanized tunneling, ground convergence is controlled through balancing the earth pressure at the tunnel face as well as applying pressurized bentonite through the shield. Reducing ground deformation can consequently lower the additional deformations and forces developed in the pile foundation and lessen the associated construction risk. In this paper, comprehensive detailed finite element modeling was performed to quantify the effect of the different parameters on induced forces in piles. Finite element models took into account the nonlinear behavior of soil and pile-soil interface. The modeling results are of practical importance in risk evaluation of tunneling in vicinity of pile foundations. INTRODUCTION Tunneling operation in congested urban areas becomes more frequent as demand for further utilizing underground spaces grows. In urban settings, it is not uncommon for tunnel designers to plan a tunnel route in close proximity to other structures to satisfy other competing objectives like raising the alignment to reduce excavation volume. Setting the alignment close to existing structures increases the risk involved in the project. It is the responsibility of the designer to thoroughly identify, assess, and mitigate all design risks involved. In this paper, we focus on the aspects involved in tunnel construction in proximity to existing pile foundations. Tunnel operations introduce deformation in the soil mass. Consequently, a pile located within deformation zone experiences extra forces as a result of the imposed deformation. The developed forces and bending moments can be in orders comparable with the pile capacity depending on the relative horizontal proximity of the tunnel and the relative depth of tunnel with respect to the pile length."

Jan 1, 2016

By Ben H. Daud

A computer model has been developed at Consolidation Coal Co.'s Central Engineering Dept. for preliminary economic evaluation of deep coal mine reserves. Since it was first formulated more than two years ago, the model has been used for the following purposes: (1) ranking studies of coal exploration projects, (2) marketing surveys, (3) preliminary sale and acquisition analysis of coal reserves, and (4) parametric analysis in conjunction with detailed feasibility studies.

Jan 1, 1979

By Gilmore R. Tostengard

The advent of inexpensive computers has opened vast opportunities for improved planning and control of capital projects. The mining and mineral processing industries have welcomed the opportunity, and new and improved quantitative management techniques have abounded. This chapter will discuss commonly used computer applications for economic justification of the project, preparation of the cost estimate, planning the work schedule, monitoring work progress, and control of costs and productivity. Finally, there is a review of the degree to which the industry uses these applications. Our experience suggests that while we in the industry have been quick to adopt the new techniques, the quality of our input data has not always kept pace. During the next decade, our push should be toward improving the quality of the basic data and assumptions so that we can fully benefit from the sophisticated techniques. The GIGO (garbage in, garbage out) principle is a wellworn cliche, but it is especially valid here. One of the keys to getting good input is commitment. Unless the managers who are to use or benefit from the system are committed to it, the effort will fail. They must be com- mitted to the underlying principles of planning and control sufficiently to expend their time and resources on them; planning should be especially given emphasis. They can't be too busy to plan.

Jan 1, 1979