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[Participating Scholarship Colleges and Universities 136 Big Sky Coal Company 111 Canyon Fuel Company LLC 97 Coal Age Magazine 109 Commercial Testing & Eng. Co 99 Continental Conveyor & Equip. Co 103 Copper Mountain Resort 128 Dakota Coal Co 100 DBT America Inc 117 Empire Machinery 101 Energy West Mining Co 102]

Jan 1, 2001

The tenth annual Mine Resale Evaluation was held in conjunction with the RMCMI 2001 convention at the Steamboat Springs Sheraton Resort, Steamboat Springs, Colorado June 23 through 26. The purpose of the mine rescue evaluation program is to provide an opportunity for mine rescue teams to learn new skills and improve their existing ones in a non-competitive environment. Several staged ?disaster? scenarios were held where the teams are called upon to exhibit their life saving abilities. The evaluators meanwhile are offering suggestions, both verbal and written, to help the teams better understand the situations presented them. This non-competitive environment allows the teams to work together and share their knowledge with fellow mine rescue teams providing everyone with a positive learning experience. Mine Rescue Chairman Bill Balaz, Balaz & Associates, was in charge of coordinating the events. Six teams consisting of seven to twelve members each (totaling 60 members) participated in the three-day event. Each ream was required to respond to direr different real-life scenarios plus a written general knowledge test daily. Cindy Burnham has assisted Bali, for a few years. Her responsibilities include grading all of the written tests. This year's tour professional evaluators included Art Seanz (Hazardous Ma¬terials) of Western Environmental Associates ; Guy Norton (Ropes), Guy Horton Rope Rescue; Mary Bailey (Medical), MBA Training and Morley Hense (Confined Space). Carolyn Durga, BHP Coal, also assisted in hazardous materials and medical scenarios. They each provided three different challenging mock situations per day per team. The teams had no prior knowledge of what the scenarios would be as details were provided only as they arrived. Ten volunteer victims added much drama and excitement to the event. Their realistic enactment, complete with false blood makeup and severed limbs, made for some very tense scenarios. The Mine Rescue Teams participating this year were BHP LaPlata, BHP Navjo, BHP San Juan, all from Farmington, New Mexico; Bridger Coal Co., Rock Springs, Wyoming; Sabine Mining, Longview, Texas; Solway Minerals, Green River, Wyoming and Western Energy Co., Colstrip, Montana. Many new friendships were made and much knowledge shared. A swap meet was held Saturday afternoon for the teams to exchange miscellaneous equipment, hats, shirts, etc. The trams were asked to evaluate the program and the evaluators. They responded with many positive suggestions that will help improve the upcoming events in the years to come. Culmination of the Mine Rescue program was a Tuesday morning awards breakfast where the teams were presented with trophies. Each member was also given a gold pin with the words Continuing Challenge - Ropes.' The pin was the first in a series that will be given over the next few years. The participating victims and evaluators were also commended for their outstanding efforts. Special signed "Victim" shirts were given to select volunteers. Sponsors for the Mine Rescue program were Flanders Electric Motors, Magnum Metals, Rocky Mountain Electric Motors, Sedona Consulting and Balaz & Associates. Many hours of volunteer tine and effort from various family members of participants helped make the 2001 event a huge success.

Jan 1, 2001

By Detnet Solutions

1. “Daisy-Chain” concept The term “daisy-chain” stems from the fact that when the HotShot? detonators are connected there is a chain or electrical path for electrical current to flow from detonator A to detonator B, detonator B to detonator C etc until the path is terminated by an electrical means. The “daisy-chain” concept has long been used in electronic detonator systems, historically used in Expert Explosives’ ExEx 1000 5/6 wire system and currently in use in African Explosives Limited (AEL’s) Electrodet? electronic detonator system and has been adopted as the basis upon which the “auto-programmability” of the HotShot? electronic detonator system functions. HotShot? Detonators are connected to each other in a string, completing a “daisy chain”, and during the auto-detection mode of the control equipment, it is possible for the equipment to determine the order of hookup of the detonators as well as map the entire blast layout. The auxiliary components (Row Controllers & Branch Controllers) assist the control equipment in mapping the entire blast by indicating different points on the blast, i.e. The inflection point of a row of blast holes on a closed chevron timing pattern, the beginning of row of blast holes on open chevron timing pattern and extra blast holes or extra blast rows.

Jan 1, 2004

By Lawrence Devon Smith

"The Management and Economics Society has undertaken a survey of industry practice in the evaluation of mineral projects. The survey addresses a number of issues relating to evaluation techniques, discounted cash flow methodology, and risk. Completed during the spring and summer of2005, the results provide a record of opinion at an active and vital time in our industry.The 2005 survey questionnaire was distributed by e-mail to groups and organizations around the world. There were 22 respondents out of several hundred questionnaires distributed (we gather this small proportion of respondents is typical for such surveys). The responses, although a small number, show a consistency that suggests that the survey has captured the views of the industry. The results of the survey are summarized below in series of tables and graphs.The reader is cautioned that the results are a snapshot of industry practice at a point in time as represented by a small sampling of the industry's practitioners. These results should be viewed as indicative values."

Jan 1, 2003

Producers with Zero Reportables 2007!: ?New Horizon Mine, Western Fuels Colorado LLC ?Isaacs Run HWM, ICG ADDCAR Systems, LLC ?Savage Mine, Westmoreland Savage Corporation ?South Hallsville No 1 Mine, Sabine Mining Company ?Black Butteand Leucite Hills, Black Butte Coal Company Black Butte and Leucite Hills, Black Butte Coal Company ?Buckskin Mine, Kiewit Mining Group ?Coal Creek Mine, Thunder Basin Coal Company, LLC

Jan 1, 2008

By Raymond W. Henn

The 30th annual short course ?Grouting Fundamentals and Current Practice? was held at the Colorado School of Mines, June 22-26, 2009. The field demonstration portion of the course was conducted June 25, at Hayward Baker, Inc.?s yard in Broomfield, CO. The full-scale field demonstration annually presents many different types of drilling equipment being operated as well as various grouting methods being performed under different field conditions. As part of the field demonstration, the class is shown the proportioning, mixing, testing and injection of various cement grout mixes into sand columns under controlled and measured conditions. These sand column demonstrations have been conducted under controlled and measured conditions each year since 1999 as part of the short course. The sand column demonstrations were conducted prior to 1999, but with less quality control and minimal record keeping of the proportioning, mixing, testing, injection pressures and the final permeation results. The goal of the sand column demonstration is to show the students the effect of the water cement ratio and the use of admixture as well as the fineness of the cement, portland versus ultrafine, used has on the engineering properties of the grout and the grout?s vertical permeation through the sand. Test results for the demonstrations conducted in 1999 and for two separate demonstrations, one at the grout course and one at Geo Denver, conducted in 2000 were published in the 2001 proceedings of the Rapid Excavation and Tunneling Conference (RETC) (Henn et al. 2001). The test results for the 2002 and the 2003 demonstrations were published in the 2005 proceeding of the RETC (Henn et al. 2005).

Jan 1, 2009

By Raymond W. Henn

The 31th annual short course ?Grouting Fundamentals and Current Practice? was held at the Colorado School of Mines, in Golden, CO June 7-11, 2010. The field demonstration portion of the course was conducted June 10 at wlh Construction Co.?s yard in Denver, CO. The full-scale field demonstration presents many types of drilling and grouting equipment in operation as well as numerous grouting methods performed under various field conditions.

Jan 1, 2010

By Zeljka Pokrajcic

Crushing and grinding, or comminution, circuits are the most energy intensive process of a mineral processing plant. Comminution involves the physical size reduction of an orebody to a particle size sufficient for recovery of the mineral values. However, the comminution process remains inherently inefficient. The inefficiency is a result of the operating nature of comminution devices such as grinding mills, where transfer of energy between grinding media and particles in unconstrained and completely random. New comminution circuit design strategies are presented in this paper. The aim of the new strategies is to improve the overall efficiency of the comminution process and reduce the total energy consumption of a comminution circuit. The energy efficient strategies include the: ? rejection of coarse size liberated gangue from the comminution circuit and further downstream size reduction ? use of more efficient grinding and crushing equipment ? the selection of coarser particle product sizes to alleviate the increased energy intensity required to achieve finer product sizes Singularly and when combined, these energy efficient strategies can significantly decrease the overall energy consumption of a comminution circuit. This paper also explores the financial impact of certain energy efficient strategies using an analysis tool called EcoNomics?. It shows that substantial financial gains can be made by including more efficient technologies and methods in comminution circuit design.

Jan 1, 2010

By Raymond W. Henn

The 32nd annual short course ?Grouting Fundamentals and Current Practice? was held at the Colorado School of Mines, June 13-17, 2011. The field demonstration portion of the course was conducted June 16 at Baski Inc.?s yard in Denver, CO. The full-scale field demonstration presents many types of drilling and grouting equipment in operation as well as numerous grouting methods per-formed under various field conditions. As part of the field demonstration, the class was shown the proportioning, mixing, testing and injection of various cement grout mixes into sand columns under controlled and recorded conditions. These sand column demonstrations have been conducted under controlled and measured conditions each year since 1999 as part of the short course. The sand column demonstrations were conducted prior to 1999, but with less quality control and minimal record keeping of the proportioning, mixing, testing, injection pressures and the final permeation results.

Jan 1, 2011

By R. Adams

Zirconium is the 20th most abundant element in the Earth?s crust and it most often occurs in the form of silicate (as zircon), less often in the oxide form (as baddeleyite or caldesite). Historically, the world?s production of zircon was entirely derived from mining and processing beach sands or heavy mineral sands that were being exploited primarily for their titanium content, i.e., to generate TiO2 feedstocks that would be used for making titanium pigments and, to a lesser extent, titanium metal. Zircon was then regarded as a byproduct, with the sharply fluctuating prices typical of a commodity where the supply is essentially involuntary and not truly responsive to market demand. However, in recent years, zircon has shown considerable mining investment appeal in its own right. Projects have been planned ? and some have already come to fruition ? based mainly on the zircon potential of the deposit. Booming Chinese demand for zircon to meet the requirements of the ceramic and zirconium chemical sectors has been a major factor causing zircon prices (f.o.b. Australia) to surge from US$674/t ($611/st) at [ ] the end of 2005 to beyond US$2,400/t ($2,177/st) by the end of 2011.

Jan 1, 2012

For the first time in its history, the George A. Fox Conference let its focus venture away from the friendly confines of the East Coast of the United States to spend part of the one-day conference looking at projects from around the globe. With a record-setting attendance of 377 people, the conference, titled ?Tunneling: An international perspective,? opened with a keynote speech from special guest In-Mo Lee, professor, Korea University in Seoul, South Korea. He is also the president of the ITA-AITES. In a sweeping presentation, Lee walked the packed audience through some of the most fascinating and challenging projects in his home country. Among the projects he spoke about were Korea?s longest railway tunnel, the Solahn Tunnel and the Inje Tunnel, a freeway tunnel that is 11.94 km (7.4 miles) long.

Jan 1, 2012

By Daniel T. Eyde

The U.S. Geological Survey (USGS) estimates world production of natural zeolites to be 2.7 Mt (3 million st) in 2013. China ranked ?rst with 2 Mt (2.2 million st), followed by the Republic of Korea at 230 kt (253,000 st) and Turkey at 50 kt (55,000 st). Japan?s production is reported to have increased as a result of zeolites, reportedly low grade local mordenites, being used to treat the low-level radioactive contaminants in the areas surrounding the damaged reactors at the Fukushima Daiichi power plant. China and other countries? high-volume, low-value construction applications, which include dimension stone, pozzolans and lightweight aggregate, are also included in production. This means the production data does not accurately indicate the quantities used in high-value added specialty applications. Consumption in the United States, according to USGS estimates, increased slightly, to an estimated 71.3 kt (78,400 st). Domestic uses for natural zeolites were, in decreasing order by tonnage, animal feed, pet litter, cement (primarily down-hole cement applications by the drilling industry), water purification, odor control, waste water cleanup, fungicide or pesticide carrier, gas absorbent, fertilizer carrier, oil absorbent, desiccant, catalyst and aquaculture. The six leading uses accounted for more than 70 percent of the domestic natural zeolite sales tonnage.

By William Gleason

"During the past nine years the number of cellular phones connected to a network has increased from 34 percent of the world’s population in 2005 to 93 percent in 2014. These phones are powered by a combination of materials including elements such as gold, silver, copper and rare earths. And, as more parts of the world become connected to networks, the number of phones being produced, and the elements they will need, will continue to increase. The demand comes as prices for these commodities are slumping and access to the commodities is getting more difficult, technically and socially.These mobile devices have connected people around the world in ways that could not have been imagined two decades before, and, ironically, this communication has strengthened opposition to the development of the mines that produce the very materials they need to operate.In his keynote address to the 2014 SME Arizona Conference at the JW Starr Pass Resort in Tucson, AZ, on Dec. 8, 2014, John O. Marsden, SME President and president of Metallurgium, spoke to more than 500 attendees about the challenge to produce the materials that society needs while at the same time challenging the general public’s perception of mining that is often inaccurate and less than favorable.Marsden highlighted the amount of raw materials that will be needed not just for phones, but also for things such as automobiles, including electric cars, as a way to illustrate the importance of mining. Even so-called green products such as Tesla cars, which require about 317 kg (700 lbs) of aluminum, 13 kg (30 lbs) of copper and 36 kg (80 lbs) of cobalt for their eco-friendly batteries, will need materials mining provides.These are some of the numbers that the general public is often unaware of. They are part of the necessary things that mining provides for society but are rarely reported on. Instead, it is the accidents like the tailings spill at the Mount Polley Mine in British Columbia and at the Buena Vista Mine (Sonora, Mexico) that grab headlines and stick in the minds of the public, adding more challenges to an industry that already has its own complex technical challenges to deal with."

Jan 1, 2014

By M. Romana

"RMR geomechanics classification is being used all over the World as a useful tool for tunnel predesign and construction. Bieniawski (1989) provided guidelines for tunnel excavation and support, according RMR numerical values; guidelines which are now included in almost all tunnelling books, regulations, and Internet portals. But in the last 25 years tunnelling techniques have changed and some of the guidelines have become obsolete.. The conditions of tunnels for the 1989 guidelines application were: horseshoe shape; 10 m width; vertical stress < 25MPa; construction by drilling and blasting. Actually a substantial number of tunnels are mechanically excavated. The tunnel themselves are now bigger: a span of 14 m. is very common for transportation tunnels. The guidelines included the following concepts: excavation method, rock bolts (20 mm diameter, fully grouted), shotcrete, steel sets. There is an increasing gap between the 1989 guidelines and the practice: in many tunnels different to-the-case excavation and support requirements are established. Bieniawski himself has published a paper (Lowson & Bieniawski, 2013) with different guidelines based in Lowson’s practice, with no explanations and/or justification.In this paper a new set of RMR tunnelling guidelines is proposed taking account of the actual industry conditions, and increased safety regulations. The 5 classes’ limit RMR:values (80,60,40,20) are no more useful actually: Values of RMR (70, 50, 30) are used in practice to define quite different tunnelling techniques. Consequently a 10 subclasses system is proposed. Each subclass covers a span of 10 RMR points. As the number of mechanically excavated tunnels has increased a new correction factor is necessary, according the excavation method.The proposed 2014 RMR guidelines are for tunnels 10 to 14 meters wide, the world practice for new roads/railways tunnels. Many tunnels for water/ services are smaller with smaller support needs. Wider than 16 m caverns are out of the RMR system.It is not possible, nor desirable, to propose only a value for support in each subclass. The new guidelines propose an interval of values for certain types of support. More pessimistic values must be chosen for wider tunnels, tunnels with lower RMR values in each class and cases when a higher safety factor is asked for. More optimist ones are chosen for narrower tunnels, and higher RMR values. Some alternatives are almost complementary, others are contradictory. Sometimes several different techniques are proposed Guidelines are not automatic options. Good engineering judgment must be used when choosing between the different alternatives. Guidelines are not mandatory suggestions."

Jan 1, 2015

"Foreword by Lisa SchlinkSuperintendent, operations, Freeport-McMoRan Inc.,Green Valley, AZ, USAThe sixth annual Student Poster Contest hosted by the Mineral & Metallurgical Processing Division of the Society for Mining, Metallurgy & Exploration was held during the 2015 SME Annual Conference and Expo in Denver, CO. The contest had another record-breaking attendance of 31 entries: 27 graduate and four undergraduate. The universities represented were: Colorado School of Mines, South Dakota School of Mines and Technology, University of Kentucky, University of Utah, Southern Illinois University Carbondale, University of Wyoming and West Virginia University.The competition began with an extended abstract review by a panel of judges selected from MPD members. At the SME Annual Conference, all students displayed their posters, highlighting their research. The students with the top abstracts from the graduate and undergraduate divisions presented their research at the MPD Student Poster Session Wednesday morning. The panel of judges then provided tallied scores for the abstract, poster and presentation to determine the winners of the 2015 Student Poster Contest. The first- and second-place winners of both the graduate and undergraduate divisions received $1,000 and $500 scholarships, respectively. The third through seventh places received $200 each, and all other entrants received $100 each and were invited to join the MPD Luncheon.In the undergraduate division, Annette Hein of the University of Wyoming received first place for her research on “Solvent Extraction of Europium from a Nitric Acid Solution.” Second place went to Jennifer Galvin of South Dakota School of Mines and Technology for her research titled “Solvent Extraction of Neodymium Using PC88A.”In the graduate division, Caelen Anderson of the Colorado School of Mines received first place for his research titled “Fundamentals of Rare-earth Flotation Surface Chemistry: Hydroxamate Adsorption on Bastnasite”. This is Caelen’s fourth year placing in the top finisher. Second place in the graduate division went to Seyed Hassan Amini of West Virginia University for his research on “Ultra Clean Coal Production for the Solar-cell Industry.”The 2015 Student Poster Contest was chaired by Lisa Schlink (Freeport- McMoRan Inc.) and Emily Sarver (Virginia Polytechnic Institute and State University). The panel of judges included Aaron Noble (West Virginia University), Nick Gow (FLSmidth), Ren Bryce (Freeport-McMoRan Inc.), David Perkins (Derrick Corp.), Jim Metsa (Weir Minerals) and Scott Shuey (Newmont).A special thank you is extended to the sponsors of the MPD Student Poster Contest, to all the students who participated and to the panel of judges. Watch for more information on the 2016 MPD Student Poster Contest to be published later this year on http://www.smenet.org/mpd/ and in the November issue of Minerals & Metallurgical Processing."

Jan 1, 2015

"The seventh annual Mineral & Metallurgical Processing Division (MPD) student poster contest was held last February at the SME Annual Conference & Expo in Phoenix, AZ. A total of 21 students entered the poster competition. The students were required to submit one-page abstracts, which were reviewed by the judges, after which they prepared posters to display their work. A panel of judges went to each student and listened as the student explained his/her 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 competition. Recognizing the effort required to participate, the MPD provided monetary rewards to all participants. First place received $1,000; second, $500; and third through seventh, $200. All remaining entrants received $100 each. The winners have their abstracts published in this issue of Mining & Metallurgical Processing. As in past years, there were separate levels of competition for undergraduates and graduates.Now for the winners:Graduate winnersJoseph Halt won first place for research on the use of additives to starch binders to create iron ore pellets. Vivek Agarwal received second for working on using solvent extraction to concentrate lanthanum. Jordan Rutledge placed third for utilizing tannins to depress calcite in fluorite flotation. Fourth through seventh places were Vu Truong, Jacob McDonald, Hunter Sceats and Doug Schriner.Undergraduate winnersLaura Nugent won first place for using high-frame-rate cameras to follow bubbles as they moved from the pulp to the froth in flotation cells. Taylor Graham earned a second-place finish by researching how to acid leach low-grade manganese carbonate.Although its cliché to say everyone’s a winner, everyone can benefit from attending the MPD Student Poster contest. All the students were able to display their work to potential future employers, and industry professionals could talk to the up-and-coming engineers. Next year, there will be another competition for more posters and networking, so get ready to attend.Thank you to all the students for participating; Lisa Schlink for chairing the session; the judges, Aaron Noble, Debra Switzer, Mohammad Rezaee, Nick Gow and Ren Bryce, for evaluating the abstracts and posters; and the MPD sponsors for supporting the competition. This has only been successful with the input of all three groups. Engineering iron ore pellets to reduce their dustinessJ.A. Halt and S.K. KawatraGraduate student and professor and chair, respectively, Department of Chemical Engineering,Michigan Technological University, Houghton, MI, USAIntroductionIron ore pellets are hard spheres made by agglomerating iron ore concentrate and binders. Pellets are the preferred ironbearing feed for blast furnace ironmaking. Starch has been proposed as a binder because it has good adhesive properties, does not contaminate pellets and is relatively cheap. However, starch binders typically lead to weak pellets with rough surfaces, and these can cause high levels of dust within process equipment and when pellets are handled and shipped (Halt and Kawatra, 2014). Our research shows that by adding a small quantity of other additives, pellets made with starch binders become smooth and strong. The newly designed binder leads to significantly lower levels of fines when pellets are handled."

Jan 1, 2016

"The mining industry suffers from a number of incorrect perceptions, one of which is that it is an outdated industry that has not changed for hundreds of years. But the truth of the matter is that mining is a vibrant, highly complex industry that not only employs highly skilled and educated professionals but is also often on the cutting edge of technology. It is an industry with projects that are ever-evolving and among the most challenging engineering feats in the world.Take for instance the U.S. 53 Highway Relocation project in Virginia, MN. While more of a civil engineering job than a traditional mining project, it is still a complex engineering challenge taking place in a mining environment that has called on the skills of eight state agencies, three federal agencies, a host of contractors and many consultants, including many from the local mining industry in the Iron Range of Minnesota.In 1960, the Minnesota Department of Transportation (MnDOT) constructed U.S, Highway 53 on a private easement owned by US Steel that cut across a massive taconite deposit. MnDOT constructed the highway with the agreement that if the highway needed to be moved to access the taconite deposit before 1987, US Steel would foot the bill. And if the move was required after 1987, the responsibility would fall to MnDOT. In 2010, MnDOT received the notice that the highway would have to move as property owner United Taconite planned to access the ore, setting in motion one of the greatest engineering challenges, and the highest risk project, in the history of the states’ transportation department.Pat Huston, U.S. Highway 53 Relocation project manager, opened the 90th SME Minnesota Section Conference in Duluth, MN on April 19 with a presentation about the project that includes 5 km (3.2 miles) of fourlane highway and a new 345-m (1,132-ft) bridge that will be the tallest in Minnesota when it is completed later this year.“This project was not business as usual,” Huston told the packed crowd. “Highway 53 connects Canada and the Iron Range to Duluth and Lake Superior. It is an important highway.”During his presentation he spoke about many topics that were familiar to the more than 1,100 mining professionals who attended the conference. In his keynote speech,"

Jan 6, 2017

"Foreword by Ren BryceSenior engineer, Freeport-McMoRan, Oro Valley, AZ, USAThe eighth annual Mineral & Metallurgical Processing Division (MPD) student poster contest was held in February at the national SME Annual Conference & Expo in Denver, CO. A total of 33 students presented their work at the poster competition. The competition started 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 competition. The MPD recognizes the effort required to enter and as a result, provides monetary rewards to all participants. The first-place winner receives $1,000; the second, $500; the third, $250; and the fourth through seventh, $200. All remaining students receive $100. All of the students also receive a complimentary ticket to the MPD Luncheon. As in past years, there are separate levels of competition for undergraduates and graduates.Graduate winnersKaustubh Shrimali won first place for researching “The influence of starch in amine adsorption by quartz in the reverse flotation of iron ore.” Venkata Atluri received second for studying “The effect of polysaccharides on bubble attachment at talc surfaces.” Jennifer Galvin placed third for investigating “A novel approach to alkali pug bake for the extraction of rare earth elements from monazite concentrate.” In the fourth through seventh places were Amy Richins, Sumedh Gostu, Brett Carlson and Chris Vass.Undergraduate winnersNestor Santa earned first place for exploring “Copper recovery from waste printed circuit boards.” Cassidy O’Connell received second place for conducting “Performance analysis of CMC in high talc copper sulfide flotation systems.” Catalina Vanegas won third place for examining “Cyanidation tests and pretreatments to recover gold from a refractory ore in Colombia.” Kylie Boyce, Michael Archambo and Pritam Sinha were in the fourth through sixth places.Everyone benefits from attending the student poster competition. The students are able to display their work to future employers, and industry professionals can talk to up-and-coming engineers. Next year, there will be another competition for more posters and networking. Come and enjoy the event and the posters."

Jan 1, 2017

By Tae Hwan Lee, Jun-Shin Lee, Daejin Kwag, Sangchul Bang, Gerard T. Houlahan, Moo Sung Ryu

"Geotechnical engineers have been installing innovative, permanent underwater foundation systems utilizing suction buckets for the offshore industry since the early 1980s (Senpere and Auvergne, 1982). This foundation system has been successfully used on numerous and various types of offshore structures in a wide range of environments. Suction buckets have numerous advantages compared to conventional underwater foundation systems. The more notable advantages include easy installation, large loading capacity, low noise and retrievability. The application of reduced water pressure inside the bucket facilitates the installation of the suction buckets, where a suction pump attached at the top of the bucket can accomplish the entire driving operation. Because of this efficient operation, very large suction buckets can be driven into the seafloor, which eliminates the use of a large number of small piles.In Korea, one of the most economical and reliable renewable energy sources is wind power; however, onshore wind power generation has encountered many problems, such as the lack of favorable sites and public concerns about noise and environmental damage. Consequently, offshore wind power generation has attracted increasing attention due to its abundant potential, high efficiency of grid connection, and availability of easy expansion.In November 2011, the government of Korea announced a national offshore wind power development roadmap, which targeted its offshore wind power generation with the goal of becoming one of the top three nations in the world for offshore wind power generation. Korea Electric Power Corporation Research Institute (KEPRI) is the main research arm of the Korea Electric Power Corporation (KEPCO) and conducts research and development on electricity, power generation, renewable energy and other energy-related matters. KEPRI ultimately provides forefront knowledge and leadership to KEPCO with respect to energy and related areas for its near- and long-term needs. Financial support for the overall project, of which the suction bucket foundation system installed for the pilot phase wind turbine is described below, was provided from the New and Renewable Energy Program of the Korea Institute of Energy Technology Evaluation and Planning funded by the Korean Government Ministry of Trade, Industry and Energy"

Jan 1, 2017

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