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By C. Musingwini, A. S. Nhleko

"Since the Global Financial Crisis (GFC) in mid-2008, capital has been more difficult to access. Mining projects must contend with projects from other industries for scarce capital. A decision to invest available capital in mineral projects requires that valuation be conducted to assess the expected return on the projects. The discounted cash flow (DCF) analysis is generally applied for the valuation of mining projects, whereby future cash flows are discounted to present value using an appropriate discount rate. The discount rate significantly affects the outcome of a valuation. Economic and finance theory provides tools to calculate discount rates. The discount rate must account for factors such as the risk and stage of development of the mineral project; hence the appropriate discount rate to utilize in a project is often a subject of debate.The discount rate is the weighted sum of the cost of debt and equity. There are several methods for determining the cost of equity. This study considers the commonly applied Capital Asset Pricing Model (CAPM) and Gordon’s Wealth Growth Model because of their simplicity and availability of parameters required to estimate the cost of equity. This study explores how differences in the cost of equity obtained by these two methods can be explained for a mining environment. Data for empirical analysis were collected from the I-Net Bridge, McGregor BFA, and Bloomberg databases. It was found that Gordon’s Wealth Growth Model provides better estimates of the cost of equity compared to the CAPM under depressed market conditions. Therefore, this research recommends that Gordon’s Wealth Growth Model be used to estimate the discount rates for mining projects during periods of depressed market conditions."

Jan 1, 2016

By S. C. Sun

Pennsylvania has ample reserves of high-alumina clays which are potential sources of alumina, but many of these clays contain large amounts of iron, which makes them unsuitable for treatment by acid processes(1). The purpose of this investigation was to determine the optimum conditions for the selective hydrochloric acid leaching of iron (2-4) prior to the sulfuric acid extraction of alumina from Pennsylvania ferruginous high-alumina clays. This was accomplished by first testing the iron-bearing minerals and the clay minerals most often encountered in Pennsylvania clays to determine their rate of dissolution in hydrochloric acid solutions. The results of individual minerals were then based for leaching Pennsylvania clays with a 19% hydrochloric acid solution at the boiling point of the acid for approximately 30 minutes to achieve as high as 90% iron removal and only 2-5% alumina losses.

Jan 1, 1968

By X Yang, B Wang, L Liu

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The Huoqiu iron ore field in north-west Anhui province is located in the south-east margin of the North China Craton and hosts large iron resources. Orebodies are hosted in Neoarchean amphibolite facies metamorphic rocks, forming silicon-iron bands from north to south. The area is dominated by an Early Precambrian basement consisting of Neoarchean grey gneisses, amphibolites and metasediments. The gneisses are similar with assemblages of Trondhjemite-Tonalite-Granodiorite in compositions and intercalated with amphibolites. Igneous zircons from gneisses and amphibolites have U-Pb ages of 2.86 and 2.75 Ga respectively, which are interpreted as the crystallisation ages of their protolith. Zircons from amphibolite and gneiss have eHf(t) values of 2.4–15.5 and -3.0–1.5 respectively. The tDM2(Hf) model ages of the gneiss range from 2.87 to 3.14 Ga, which is consistent with tDM1(Hf) ages of amphibolite (2.84–3.16 Ga). The U-Pb-Hf isotopes thus confirm that the gneisses were generated by partial melting of amphibolite. Two granites produce two group Hf isotopic compositions. The older one (1916 ± 42 Ma) has eHf(t) values and tDM1(Hf) ages of -9.4–3.4 and 2.24–2.71 Ga respectively, whereas the younger one (1823 ± 41 Ma) shows a large variation in eHf(t) values of -18.1–12.5 and tDM1(Hf) model ages of 1.73–2.92 Ga. Geological and geochemical characteristics indicate that the Huoqiu banded iron formations are a Superior-type iron formation rather than an Algoma-type as previously considered.CITATION:Yang, X, Liu, L and Wang, B, 2015. Study on the Huoqiu banded iron formation, West Anhui Province, East China , in Proceedings PACRIM 2015 Congress, pp 649–656 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By C. S. Tout

While investigating methods for determining the best temperatures for hot-working experimental stainless steels, the Bureau of Mines Albany Metallurgy Research Center developed a machine in which hot-twist tests could be made in a few minutes. This machine is similar to some used previously except that specimens are heated by induction instead of by radiation, and their temperature is measured by a calibrated radiation-detection unit instead of by a thermocouple. In. developing the technique for using the new machine, tests were made on specimens of medium-carbon steel, mild steel, and AISI (American Iron and Steel Institute) type 304 stainless steel. Tests also were made on as-cast specimens and preworked specimens of experimental AISI type 202, low austenitic stainless steel, and as-cast specimens of AISI type 301 experimental stainless steel. The optimum hot-working temperatures were determined for all types of steel tested. Also, data were gathered on the effects of test speed and temperature on torsional strength and the effect of twisting on tensile stress in the specimen.

Jan 1, 1962

By R. M. Schuster, F. M. Benavides

Samuel G. Bonasso The article by Benavides and Schuster provides an in-depth study of three transportation alternatives for a four-mine complex in western Kentucky. The examination of aerial tramways was not undertaken as an alternative solution. We feel this is an oversight since industrial ropeways are competitive with both belt conveyance and overland truck hauling. In fact, there are aerial tramway systems, operational today, which are 100 years old and operating with some original components. Maybe unfortunately, there are no fixed rules or guidelines whereby the most cost-effective means of transporting and handling material for a given situation may be selected. Each situation must be evaluated so the variables that influence the selection of the desired alternative can be clearly defined. However, there are in-place industrial ropeway systems that have proven economically feasible over a range of 1.6-50 km (1-31 miles). The more difficult the terrain, the greater the cost efficiency.

Jan 1, 1983

By Serge Moalli

The Ashlu Creek Hydro-electric project, located north of Squamish, BC, at the confluence of Ashlu Creek and the Squamish River, comprises a 49 MW run-of-river project and features a 4.08 m diameter, 4.4 km power tunnel and a 128 m deep drop shaft. The Ashlu Creek Hydro-electric project is being developed by Innergex under Ashlu Creek Investments Limited. Site civil works are being completed by Ledcor CMI of Vancouver with tunnel construction by Frontier Kemper Constructors ULC under a lump sum design-build contract. Site works got underway in September 2006 with the construction of the tunnel portal and laydown area. These site works required rock slope stabilization over a 50 m rock slope to secure the laydown area as well as the construction of a tail track muck tipping station and structural wall to facilitate TBM excavation and spoil removal. Starter tunnel construction commenced in early 2007 and TBM tunneling started in the late spring of 2007 and is planned to continue until early 2009. The power tunnel is being excavated using a 1,200 kW Wirth open-type hard rock TBM dressed with 31?17' cutters. The TBM featured two fixed mounted rock bolt drills behind the finger shield: these were removed and replaced with jacklegs to improve access. A probe drill at the end of the main beam is also present. The geology along the 4.4 km power tunnel comprises very strong and generally massive granitic bedrock with rock strength greater than 225 MPa. A unique feature of the project is that no subsurface investigations have been completed for the tunnel however extensive bedrock outcrops are present along the Ashlu Creek valley. A historical quarry exists approximately mid-way along the tunnel alignment that has exposed good quality granitic bedrock. TBM tunneling to date has achieved advance rates of 10?20 m/day with a maximum of 23 m and has encountered all of the anticipated six major fault zones where the installation of various standard high capacity tunnel support was successful to facilitate TBM advance through these sections.

By Pierre Lacombe

"The operation of the Louvicourt Mine will have to rely on stringent grade control and on the optimization of the amount of blocked ore made available per given development effort. All of the above being necessary to obtain the highest throughput at the lowest mining cost.To assist in achieving these objectives, the need for production of a competent fill with short curing time was recognized early by the project partners. As well, operating costs associated with the selected method should be as low as possible while meeting the technical criteria.A feasibility study comparing filling methods showed potential benefits in all aspects of the paste fill use, except for its higher capital costs and increased operational complexity. This last consideration was tackled by the conservative design approach adopted in the flowsheet development of the paste fill plant.Since commissioning of the plant has just been completed at this time, the paper will focus on the feasibility study and its background, the design of the plant and testwork results at pilot plant and plant scale.RésuméLe succès de l 'opération de Louvicourt Mine dépendra d' un contrôle serré des teneurs du minerai et de la maximisation de la quantité de minerai développée par effort uni ta ire. Ces critères devant etre respectés afin d'obtenir le taux de production le plus élevé au coût le plus bas.De façon à satisfaire ces contraintes, les partenaires du projet ont reconnu tôt la nécessité de produire un remblai de qualité tout en maintenant un temps de curage court. De plus, les coût d'opération associés a cette opération se devaient d'être des plus avantageux sans sacrifier l'atteinte des objectifs techniques.Une étude de faisabilité comparant différentes méthodes de remblayage a démontré que le remblai en pâte offre des aspects positifs sous taus les angles, si ce n'est de son coût en capital initial élevé et de sa complexité relative d'opération. Ce dernier point fut considéré de près par l'adoption d' une approche conservatrice lors de la conception de l'usine de rernblai.Puisque la mise en service de l'usine n'a été faite que les détails de l 'étude de faisabilité et ses fondements, 1 'usine et des résultats d' essais obtenus a l'échelle de l'usine seront discutés."

Jan 1, 1995

By Richard Morland

Some simple and fundamental objectives To challenge and inspire our people to embrace safety as a value ?A stand for safety as a value ?A stand for our people ?A stand by our people ?Prevent harm to our people ?Eliminate suffering for individuals, families, friends, colleagues

May 1, 2010

A study was undertaken to investigate the relationship between the quantity and value of economic demonstrated resources discovered for 12 mineral commodities over a ten year period and the expenditure required to yield such mineable resources. The results showed that for every dollar spent on exploration, there is an apparent in-ground average value of around $54 dollars contained in the economic resources found. While this appears to be a satisfactory return, it should be remembered that more than 99.9% of exploration programs are judged to be failures because a viable ore body or mineral deposit was not proved up. What is behind this seeming paradox?   The fundamental truth behind mineral exploration is the fact that the more you explore, the more you find, and that one success will often lead to further discoveries. It appears that one rich and viable deposit creates such surplus that its inherent high value ('the pot of gold') makes up for all the failures. In short, mineral exploration is a high risk business with uncertain returns. However, with skill, enthusiasm, experience and venture capital, it can yield larger than normal returns for the brave and the fortunate.   Analysis of exploration expenditure and economic resources discovered for the period 1987 to 1996 revealed that the apparent in-ground value of economic ore discovered per dollar of exploration expenditure varied from a high of $429 for iron ore and $261 for bauxite to a low of $22 for gold and for lead, and $5 per dollar of diamond exploration expenditure. Preliminary conclusions drawn on the reasons for the variations observed include the inherent ease or difficulty of discovery for different mineral commodities which may in some cases, relate to the natural prospectivity of Australia as a whole. Layered deposits like iron ore and bauxite appear to yield higher in-ground value returns on the exploration dollar. To some explorationists, this may be considered as seemingly obvious, but it may have more to do with very large-exploration tenement grants pursued by various Australian State Governments in the early 1950s and 1960s than the apparent ease of delineating a stratabound deposit.   Despite the apparent relatively low in-ground value produced by the gold exploration dollar of $22, the 5660 tonnes of gold discovered in this ten year period was worth $9.1 billion and representing over a quarter of the new mineral wealth created in the ten years to 1996. This contribution, along with that from the other minerals discovered over the period, led to a significant boost to Australia's export income and standard of living.   It is concluded that, given the nexus between the amount of mineral exploration expenditure and the quantity of new resources likely to be discovered, this knowledge may help policy makers seek to influence the rate of resource discovery in countries like Australia for the benefit of the nation.

Jan 1, 2004

By D-J Min

Strategies and achievements in the Asian steel industry to construct industrial ecological chain are reviewed largely in the case of Japan, Korea and China. Emphasis is placed on the development of resource circulatory system for the minimisation of various wastes and emissions of green house gases (GHG), toxic gases and polluting particulates. The minimisation includes:Rationalisation of iron and steelmaking processes; Implementation of available relevant measures/technologies; Life cycle assessment in designing steel from semis to assembled products; Reduction, reuse and recycling of materials and energies; and Utilisation of core competence technologies to process domestic and industrial wastes. In view of global nature of the above wastes- and emission-issues, inter-industrial linkage and international cooperation across the borders in the Asian countries have become more important. Inter-industrial linkage definitely serves to cut back the wastes and emissions. Examples of such linkage and factors influencing the sustainability of the linkage are described with expectation for further development of the linkage. Importance of international cooperation cannot be overstressed under the circumstances where steel production in China exceeded 220 Mt and world production exceeded 945 Mt in 2003 and is still increasing. Practical measures are discussed to enhance the linkage and cooperation for effectively promoting the reduction, reuse and recycling, including implications for the nonferrous industry.

Jan 1, 2004

By M P. Simpson

Forty one whole rock samples from the Gold Cross low-sulfidation epithermal Au-Ag deposit have d18O values that range from 4.4 to 9.3 per mil, with an average value of 7.0 per mil. Unaltered and weakly altered rocks have d18O values greater than eight per mil, and the orebody is surrounded by samples that are depleted in 18O. A strongly silicified sample adjacent to the Empire Vein System has a d18O value of 9.0 per mil, similar to previously reported analyses of vein quartz (7.0 to 11.7ë, average 9.4ë). This suggests that, in detail, Golden Cross may have a zone of 18O-enriched wall rocks in the core of the deposit, adjacent to the main underground veins. Although some workers have suggested that stable isotope geochemistry may provide useful information for epithermal mineral deposit exploration, at Golden Cross this is not the case. Alteration minerals, major elements and trace elements all define larger, less ambiguous halos than the zone of 18O-depleted wall rocks.

Jan 1, 2001

You have been involved with research activities in froth flotation and size reduction. What do you think the future holds for these technologies? Froth flotation and size reduction are essential processing steps common to almost all current mineral-processing operations. The most significant recent advances in both of these technologies have been in the increased size of equipment and in some alternative machine designs, such as the column cells and the high-pressure roller mills. I believe that the next major area of improvement in size reduction will be at least partially driven by an improved awareness of controlling the conditions that influence the efficiency of particle breakage. This would include factors such as water-chemistry influences, the influence of fines from classification, chemical grinding additives and better rheology control. In froth flotation, significant changes are currently taking place in the plant use of frothers. Also, there will be an increasing number of new collector chemistries for certain types of flotation, such as with oxide minerals, oxidized mineral recovery in sulfide systems and improved selectivity with certain sulfide mineral systems. You have been active in implementing new engineering technology in industry. What do you think will be the technological future of mineral processing? Being involved in the invention and industrial implementation of new technology has been one of the most positive experiences of my career. I also have had the unique experience of working in the chemical and petroleum industries as well as in mineral processing. In my opinion, the future of mineral processing will be an exciting, wonderful work area in which to be involved. The development of new technology in minerals processing offers a special challenge compared, for example, to that of chemistry or chemical engineering. In successful industrial innovation involving minerals, having a sound theory is not enough. Instead, what is required is a valid blend of a good idea, meaningful laboratory characterization and, most key, the experience necessary to adjust the plant in such a way to incorporate the idea. The complexity of engineering systems that contain solids, liquids and gases, as well as highly variable natural mineral properties, means that nothing new comes easily. In some cases, it has been difficult to explain how processes practiced in industry for decades actually work, in terms of physical and chemical fundamentals. On the other hand, when a new idea is successfully implemented, the economic and professional returns can be very rewarding. I know of no more challenging field of engineering than minerals processing. What is your view of the future of the minerals industry in general? The need for minerals, metals and coal will be with us for decades to come. In many aspects, the minerals industry became global much earlier than some of the other industrial sectors that are currently experiencing globalization. I believe that fair international competition is beneficial to the users of minerals, metals and coals and to those involved in producing such materials. The key word here for a global economy to work is "fair." So the various playing fields involved such as finance, profit return, regulation and labor should be relatively level for all the players involved. Competition is an amazing driving force for innovation. This has been true in the minerals industry during the last few decades. The mining industry is producing more at less cost per unit than ever before in our history. I anticipate that this trend will continue as long as the global political situation remains relatively stable.

Jan 1, 1997

Currently an Australian Standard for tunnel fire safety is being developed for road and rail tunnels. Other local guidance relating to tunnel fire safety that has recently become available includes publications by both the Roads and Traffic Authority and RailCorp of New South Wales. Internationally, the World Road Congress has completed its 2004 - 2007 cycle, which has resulted in a number of publications. International developments in rail guidance include a new European Standard regarding fire safety in railway tunnels that will come into effect in July 2008. In addition, the National Fire Protection Association committee NFPA 130 are in the process of revising their standard for fixed guideway transit and passenger rail systems, which is due for publication in late 2009. This paper outlines the status of these and other recently published relevant local and international fire safety guidelines and their implications for tunnel projects in Australia.

Jan 1, 2008

Grade control is a real challenge, and better sampling and modelling practices are among the tools that have proven efficient in improving it. Although based on rather trivial examples, this paper addresses the following important issues: How much of a challenge is it? How and to which degree can it be improved? And what kind of economic benefits should be expected in return for the corresponding efforts?

Jan 1, 1999

By Mark R. Svinkin

Regulations are needed to keep construction vibrations in tolerable limits. The existing regulations were developed for low-rise residential structures, but they are incorrectly used for different super and underground structures. The existing regulations cannot prevent most of harmful vibration effects on sensitive devices, people and structures from construction and industrial vibration sources. It is important to determine the areas of application of the existing regulations and bring attention to the necessity of measurement of the structural responses for assessment of vibration effects on structures. For multi-story residential, commercial and industrial buildings, the frequency-independent safe limit of 51 mm/s (2 in./s) can be chosen for the peak particle velocity of structural, not ground, vibrations. Specifications for construction operations with dynamic sources have to consider specifics of each construction site. Preventive measures can be used to mitigate harmful vibration effects on various structures and settlements in sand and clay soils.

Jan 1, 2006

By J. A. Vallejos

Re-entry protocols are a tactical approach for controlling risk after blasts or large events in seismically active mines. Based on the results of a survey on 18 seismically active mines, mostly in Ontario, current re-entry practices are summarized. Over half of the mines in Ontario use event decay rate analysis as their primary re-entry decision making parameter. We study in detail the applicability of the Omori?s law as an equation for describing the event decay rate for more than 250 mining-induced aftershock sequences in seven different environments. Practical guidelines for the use of the Omori equation as a re-entry criterion are proposed.

May 1, 2009

By D. K. Chibwe, P. Taskinen

"This investigation consists of a numerical and physical modelling exercise on flow patterns, mixing, solid-liquid mass transfer, and slag-matte phase distribution in a 0.2-scale cold model of an industrial Peirce-Smith converter (PSC). Water, kerosene, air, and sintered benzoic acid compacts were used to simulate matte, slag, injected gas, and solid additions into the PSC. The 2D and 3D numerical simulations were carried out using volume of fluid (VOF) and realizable k-e (RKE) turbulence models to account for the multiphase and turbulence nature of the flow respectively. These models were implemented using the commercial computational fluid dynamics numerical code FLUENT.Numerical and physical simulations were able to predict, in agreement, the mixing and dispersion characteristics of the system in relation to various blowing conditions. Measurement of mass transfer indicated that fluid flow in the PSC is stratified. Blowing configurations and slag volume both had significant effects on mixing propagation, wave formation, and splashing.As a potential process alternative to increase conversion efficiency, we propose a combined blowing configuration using top lance and lateral nozzles. The numerical simulations were conducted on combined as well as lateral blowing conditions, and the results of the combined concept are encouraging."

Jan 1, 2015

Things are going well in the mining and construction industries world-wide. So good are things that from April 23 to 29 more than 500,000 visitors involved in those two industries attended the bauma 2007 Trade Show in Munich, Germany. Bauma is an international trade fair for construction and mining equipment that took place at the New Munich Trade Fair Center. It is hosted by Munich once every three years. This year was the most successful bauma ever and further strengthened the shows position as the world leader in the field.

Jan 1, 2007

By L. B. Phelps

A method is presented for the burial of potentially toxic spoil in high density zones or packages within spoil piles. Such burial could reduce the outflow of pollutants and thus minimize contamination of groundwater flows. Laboratory model studies using ammonium bromide tracer were performed to quantify the expected outflow mixing that could be achieved through package construction in spoils. Field drilling and geophysical density logging of spoils was carried out at three sites in Pennsylvania and Ohio to obtain a range of field spoil bulk density measurements and spoil samples. These data are analyzed to determine the relationships between spoil density and the controlling factors of lithology, depth, age, particle size distribution and mining method. A separate series of spoil permeability tests were performed in the laboratory to investigate the relationship between permeability and its related parameters. Research results are applied to the toxic package method to suggest guidelines for pack-age size, shape, density and placement for future field prototype development.

Jan 1, 1981

By G. V. Krishnan, L. Adler

A rock classification for drilling and boring is presented covering most equipment types and providing an estimation of the key parameters for operation, such as thrust and speed, and of performance such as penetration rate and bit life. Drilling and boring are significant and integral aspects of both the mining and heavy construction industries. Together these constitute over 20% of the G.N.P. Drilling and boring represent the most arduous mechanical processes performed in industry. Their misapplication quickly leads to equipment destruction, hazards, and to major delays. The classification is unified in two ways: 1) for a particular rock class several parameters can be estimated, 2) the classification integrates most excavating activities (i.e. digging, ripping and even blasting), and is derived from ground control. The rock classification provides a job property, based on fundamental and index properties, which yields quick and rough estimates of vital information. However it does not obviate the need for a more thorough analysis, and maintaining field records. BACKGROUND In order to adequately describe a drilling operation the conditions, activity, and equipment must be characterized. Of these the major independent variables are the conditions. Conditions focus on the geologic mass and also consider whether the site is surface or underground. The primary component of the geologic mass is the rock type, detailed below in Rock Characteristics. The other components

Jan 1, 1983