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By E. L. Thyse, P. Bepswa

The Western Cape Mineral Processing Facility (WCMPF) is a collaborative educational initiative between the Department of Process Engineering at the University of Stellenbosch and the Chemical Engineering Departments at the University of Cape Town and the Cape Peninsula University of Technology. The primary objective of the WCMPF is to facilitate the education, development and graduation of suitably qualified engineering graduates and diplomats for the mining and mineral processing industries. In recent years the WCMPF has embarked on a number of initiatives aimed at improving the quality of mineral processing education which include, more importantly the introduction of novel ?end to end? or ?integrated? practicals. The practicals are developed around a specific mineral theme or route, which more than often includes the development of several new pilot plant practicals demonstrating key unit operations or processes in the selected mineral theme or route. The most recent mineral processing pilot plant practical programme is developed around the beneficiation of heavy mineral sands. The programme consist of the following developed pilotplant practicals: the online electrostatic separation of free flowing mineral sands using a Roche Mining Carrara high tension roll separator incorporating a Blue Cube Systems MQi in-line mineral quantifier; the production of titania-rich slag and pig iron from the smelting of ilmenite and anthracite in a 60 kW direct current (DC) plasma arc furnace as well as the mineralogical characterization of the feed and products; the continuous closed-circuit ball milling and screen classification of titania-rich slag. This paper illustrates the important role of a well-designed heavy mineral sands beneficiation pilot plant practical programme in facilitating the education and development of suitably qualified personnel for the mining and mineral process industries.

Jan 1, 2007

By T. Bhambhani, J. Jankolovits

Sphalerite flotation using copper sulfate has been performed in the industry for decades and the mechanism of Cu activation is well established. Despite its ubiquity, many practical questions surrounding copper sulfate persist. It is not clear how iron selectivity is achieved in zinc circuits given the propensity of iron sulfides to be activated by copper. Also, the large variation in copper sulfate dosages across different plants and ore types cannot be explained. Lastly, Zn flotation with greatly reduced copper sulfate dosages attracts significant interest and has been demonstrated in certain laboratory settings, but no information is available on why those laboratory solutions have not been adopted in plant practice. Flotation studies are presented that demonstrate that Zn flotation with very low copper sulfate dosages is possible when using certain novel collectors that are not practised in the industry. However, these reagent schemes are impractical because of a heretofore unappreciated and critical role that copper sulfate plays in Fe rejection. With both very low and standard copper sulfate dosages, copper sulfate influences both Zn flotation and Fe rejection. The results highlight the multifaceted role of copper sulfate in zinc flotation and the need to holistically consider complex systems’ behaviour to understand flotation reagent mechanisms and optimise plant performance. Keywords: Sphalerite flotation, metal activation, copper sulfate, iron rejection

Jan 1, 2020

By Q. P. Campbell

Activated carbons used in the precious metals extraction industry are characterized by large internal surface areas and a great affinity for metal ions. The purpose of this research is to prepare activated carbon from a South African bituminous coal by physical activation that is suitable and cost-effective for use in the extraction of metals. The quality of the coal-based activated carbon may not prove to be as good as activated carbon produced from other traditional sources, but the production costs involved may make South African coal a feasible alternative feedstock. The activated carbons produced were characterized by Brunauer, Emmett, and Teller (BET) surface area, activated carbon pH, and phenol adsorption studies and the results compared to the results from a commercially available activated carbon, Norit RO 0.8 (control sample). Bituminous coals from various sources including Witbank Seam 4 and Free State coal were used in this study. The preparation method chosen was physical activation using superheated steam. The effects of process variables such as activation time (1-3 h) and temperature (600-800°C) were studied in order to optimize those parameters. The activated carbon surface area was characterized by means of nitrogen adsorption isotherms at 77K. BET surface area analysis showed that Witbank Seam 4 coal activated at a temperature of 800°C and activation time of 3 hours resulted in a surface area of 340 m2/g. Quality control of each sample was performed by measuring the pH of a known amount of the prepared activated carbon in distilled water over time. Results showed that the pH of some of the prepared activated carbons reached a value of 11. Phenol adsorption results for the different activated carbons prepared corresponded well to the results obtained for the Norit RO 0.8 activated carbon sample.

Jan 1, 2012

By E. Van Der Lingen

This paper provides a review on coloured gold, platinum, andpalladium intermetallic compounds, and discusses the models thatwere developed to obtain these materials. These compounds have acrystal structure of high symmetry, such as the CaF2or CsClstructures, ensuring distinct electron band structures. Variousexamples of coloured gold, platinum, and palladium intermetalliccompounds are provided. More in-depth discussion is provided on thepurple gold (AuAl2) and yellow platinum-aluminium (PtAl2)compounds with CaF2structure, as well as the purplish-pinkpalladium-indium (PdIn) compound with CsCl structure. Precious metal intermetallic compounds are used in jewellery andprovide a new dimension to design. Some of these compounds havealso found use as barrier coatings on turbine blades for jet engines,and more recently, research has been conducted into their potentialuse as catalysts, electro-catalysts, sensors, capacitors, and fordecorative coatings.

Jan 1, 2014

By J. W. van der Merwe, K. G. Moloko

Furnace wall tubes from 600 MW subcritical boilers at three coal-fired power stations were sampled and the fireside deposits examined to determine the mechanism of fireside corrosion. This involved an indepth investigation into the morphology and composition of the fireside deposits and the conditions of the furnace that enable this type of attack. SEM-EDS analysis revealed high concentrations of oxygen, iron, and sulphur, QEMSCAN and XRD analyses identified the presence of Fe3O4, Fe2O3, FeS, and FeS2. Differential thermal analysis showed thermal activities at temperatures of 500–600°C, 900–1100°C, and 1100–1250°C, which are associated, respectively, with FeS2 oxidation to FeS and Fe2O3, at 475–525°C, formation of aluminosilicates at 925–1100°C, and melting of FeS around 1190°C. The absence of sodium and potassium eliminates the contribution of molten alkali sulphates to the corrosion. The consistent coexistence of iron sulphide and iron oxide is indicative of the substoichiometric conditions in the furnace, while the detection of pyrite suggests that the coal is not completely combusted, which points to a poor combustion process. These observations were affirmed by gas analysis at one of the stations, where very high levels of carbon monoxide were measured at the furnace wall (≥ 14 000 ppm) and furnace exit (≥ 3500 ppm). The high CO concentrations are indicative of limited combustion caused by limited O2. These reducing conditions promote the formation of FeS-rich deposit, which is the corrosive species responsible for degradation.

Jun 1, 2021

By T. Steyn, M. Fofana

"One of the most important performance indicators of a dense medium cyclone (DMC) circuit is the Tromp curve, and by extension the separation density and Ecart Probable (Ep) values. The densimetric profiles of DMC product streams have been traditionally acquired using heavy liquid sinkfloat analysis, which has certain disadvantages, such as the associated safety and health risks. More recently, non-toxic media such as lithium hetero-polytungstates (LST) have been used, with the desired densities being achieved by maintaining the solutions at specific temperatures. However, the high costs of these liquids can be prohibitive. The long turnaround time of the sink-float analysis is a further disadvantage for timeous interventions to the operating set-points of the DMC process.The RhoVol technology can generate the density distribution of a batch of particles in a rapid, accurate, repeatable, and safe manner. Additional data of interest, such as particle size and shape, are also measured and reported on a per-particle basis. Furthermore, samples can be sorted into discrete sorting bins based on any of the measured parameters of the particle, making further analyses of the material possible.This technology has applications across all commodities that use the DMC, particularly in the size fractions –25 +8 mm and –8 +3 mm. To date, laboratory results have proved very encouraging – separation densities are within 5% of traditional sink-float results, and the technology is being introduced to diamond DMC plants. IntroductionDense medium separation is a commonly applied beneficiation technique for the density separation of valuable products from crushed ores. The industrial applications of dense medium separation have been summarized and reviewed by various authors (Scott and Napier-Munn, 2000; Bosman, 2014; Napier- Munn, 2018). Dense medium cyclones (DMCs) are widely used in the coal and diamond industries to produce clean coal or to preconcentrate kimberlitic ores, respectively. Cyclone performance (separation density monitoring) techniques are varied. In the mineral industry. Density tracer tests (Napier- Munn, 1985, 2014; Davis, Wood, and Lyman, 1985) without mineral material, are widely used, although their accuracy in predicting operating cut-points becomes limited once mineral material is introduced. More recently, radio frequency tracers have been also used for the determination of cyclone efficiency (Partition Enterprises, 2017)."

Feb 1, 2019

1. Recent publications Canadian minerals yearbook 1986. Review and outlook. Mineral Report 35. Available from Printing and Publishing, Supply and Services Canada, Hull, Quebec KIAOS9, Canada. $44.70. The 1987 Sigma cataloge. SI. Louis (USA), Sigma Chemical Co., 1986. 1736 pp. Der Maschinenschaden. Munchen(G. rmany), Koningstrasse 28. Metallurgicalworks in Canada primary iron and steel 1987. Mineral Bulletin MR 214. Available from the above address at $6.60 per copy. Annual report 1986. Oxbridge, International Research Institute, 1987. Canadian iron ore industry statistics, 1986, by B.W. Boyd and A. Cadieux. Publication MRI 87/6. Micromedia Limited (Document Delivery, 165 Hotel de Ville, Place du Portage 2, Hull, Quebec J8X 3X2, Canada). Tin and its uses no. 153. Oxbridge (England), International Tin Research Institute, 1987. This issue includes articles on can-making, titanium-tin alloy, coppernickel2. New journal Pergamon are producing a new journal, entitled Minerals Engineering, which they describe as 'an international journal devoted to innovation and developments in mineral processing and extractive metallurgy'. 3. Mintek publications Report M298. The effect of flocculant additions to the leaching solution on the kinetics of the oxidative dissolution of sphalerite, by F.K. Crundwell. Report M304. The smelting of ilmenite in a d.c. transferred-arcplasma furnace with a molten-anode configuration, by AD. Brent. Jut 1987. 17 pp. Report M312. The reactions of some thiol collectors at noble-metal and pyrite electrodes, by D.R. Groot. Jut 1987. 21 pp. Report M321. The determination of molybdenum, arsenic, and uranium in activated carbon by X-rayfluorescence spectrometry,by A.M.E. Balaes and G.J. Wall. Aug. 1987. Report M321. The determination of molybdenum, arsenic, and uranium in activated carbon by X-rayfluorescence pectrometry, by A.M.E. Balaes and G.J. Wall. Aug. 1987.

Jan 1, 1988

By F. M. L. Mulaudzi

Metal dusting is a corrosion phenomenon that occurs in strongly carburizing gas atmospheres at elevated temperatures. Reaction kinetics and product characterizations of Alloys 602CA and 800 were examined by scanning electron microscopy with energy dispersive X-ray analysis (SEM-EDX) and X-ray diffraction (XRD).The results showed that Alloy 602CA is more resistant to metal dusting than Alloy 800. Visual examination and SEM surface analysis showed that Alloy 800 suffered metal dusting attack after a relatively short exposure period. The amount of coke deposits increased on Alloy 800 with increased exposure from 96 to 336 hours. X-ray diffraction on the reacted surfaces identified graphite and austenite in both alloys and some iron oxides/spinel for Alloy 800.

Jan 1, 2012

By H. M. Stewart, N. F. Dawson, J. P. Beukes, P. G. van Zyl, Q. P. Campbell, A. Jordaan, R. I. Glastonbury, L. N. Sadiki

"SynopsisThe physical properties of oxidative sintered pellets produced from typical South African UG2 ore are compared with the physical properties of pellets produced with conventional South African metallurgical-grade chromite ore (from the Lower Group 6 or the Middle Group 1 and 2 seams). A statistical evaluation of the cured (sintered) compressive strengths proved that pellets prepared from UG2 ore are likely to have the same, or better, compressive strength than pellets prepared from metallurgical-grade chromite ore. The cured abrasion strength of the UG2 pellets was also superior to that of the metallurgical-grade pellets. Scanning electron microscopy (SEM) backscatter, secondary electron, and elemental X-ray mapping were used to determine the reasons for the general superior strength of the UG2 pellets. The case study UG2 ore also required 13 kWh/t less energy for milling to attain the required particle size distribution prior to pelletization, which can lead to substantial cost savings. Results presented in this paper can be utilized by ferrochromium (FeCr) producers to better quantify the advantages and disadvantages associated with the use of UG2 ore for FeCr production.IntroductionChromite, a mineral of the spinel group, is the only commercially viable source of virgin chromium units. Geologically, commercial chromite deposits in the world are found in three forms, i.e. alluvial-, podiform-, and stratiform-type deposits (Murthy et al., 2011; Cramer et al., 2004). Alluvial deposits were formed by weathering of chromite-bearing rock with the subsequent release of chromite and gravity concentration by flowing water. However, these deposits are relatively small and of comparatively minor commercial interest. Podiform-type chromite deposits usually occur as irregularly shaped pods or lenses, and their distribution within a mineralized zone is usually relatively erratic and unpredictable, making the exploration of these deposits difficult and costly (Cramer et al., 2004). Stratiform-type chromite deposits occur as parallel seams in large, layered igneous rock complexes with more regular layering and lateral continuity (Cramer et al., 2004). The largest example of a stratiformtype chromite deposit is the Bushveld Complex (BC) in South Africa, which holds an estimated three-quarters of the world’s viable chromite ore resources (Cramer et al., 2004).Several chromite seams exist in the BC. The seams of economic interest are the Lower Group 6 (LG6), the Middle Group 1 and 2 (MG1 and 2), and the Upper Group 2 (UG2) seams (Cramer et al., 2004). The LG and MG seams are specifically exploited for their chromium content, while the UG2 seam is mined primarily as a source of platinum group minerals (PGMs) (Xiao and Laplante 2004). Extraction of the PGMs from the UG2 ore usually involves the liberation of the sulphide by milling and subsequent recovery of the PGM concentrate through flotation (Xiao and Laplante, 2004). Chromite in the PGM concentrate is undesirable; therefore, PGM recovery circuits are specifically designed to ensure maximum rejection of the chromite to the tailings stream. However, the chromite in the PGM tailings can potentially serve as feedstock for ferrochrome (FeCr) production, after beneficiation to increase the chromium content."

Jan 1, 2015

By N. Naudé, J. de Villiers, C. P. Bergmann

It is proposed that the physical and chemical composition of individual mineral particles are an appropriate basis from which to model the performance of minerals processing equipment. Such a particle-based approach enables modelling across disciplines such as comminution, classification and flotation and automatically generates the traditional mass and chemistry balances. The general approach followed is to generate full grade-recovery curves for a separator by sampling product and tailings at varying mass yields. AutoSEM characterisation of each sample provides particle data that is used to reconcile mineral deportment and liberation to the measured size and assay data. In this way, partition surfaces can be generated and modelled. In this paper, an empirical model for the performance of a gravity spiral concentrator treating fine chromite ore is proposed. The model is based on the combination of two partition surfaces and is able to accommodate both forward and reverse gravity concentration effects per size fraction. The results show that this approach is well suited to represent spiral performance for the cases evaluated. The effect of two feed particle size distributions on the performance of the Multotec SC21 and SC25 spirals is demonstrated. Simulations are run in an Excel environment, linked to Python-enabled routines for enhanced data management and calculation speed. Keywords: Spiral concentrator, gravity separation, particle-based modelling

Jan 1, 2020

By S. Stuurman

Inorganic acids such as sulphuric acid have found use together with certain reducing agents in leaching of copper-cobalt oxide ores. These reagents are not ideal due to the adverse effect the inorganic acids generally have on the environment and the high costs of the reducing agents. In this study a copper-cobalt oxide ore from the Central African Copperbelt was leached in two different environments; sulphuric acid in conjunction with hydrogen peroxide as a reducing agent and tartaric acid. The effects of acid concentration, reducing agent concentration, and temperature were independently determined for both leaching environments. The sulphuric acid concentration was varied between 0.4 M and 1.2 M and the concentration of hydrogen peroxide between 4.0 M and 6.5 M, while the tartaric acid concentration was varied between 0.15 M and 0.35 M. The temperature was varied between 20°C and 50°C. The results showed that the extraction of both copper and cobalt increased with sulphuric acid concentration, reaching a peak at approximately 0.8 M and then decreasing at higher acid concentrations. A similar increase and decrease in metal extraction was observed when the reducing agent was increased. In leaching with tartaric acid, the extraction of cobalt was much higher than that of copper, although extraction of both metals increased with acid concentration. Additions of small amounts of hydrogen peroxide were found to increase cobalt extraction in tartaric acid but had a minimal effect on copper. An increase in the solution temperature had a significant effect in the organic acid environment, with the effect on cobalt extraction being much more pronounced than on copper.

Jan 1, 2014

By L. Tartibu, S. Assuli, P. Nkul, A. Kabimba, W. Elongo, N. Makhotla, D. F. Verwey, F. G. Ndiitwani, J. Bilali, T. Mukongo

The presence of colloidal silica negatively impacts various hydrometallurgy processes. This paper details the nature of colloidal silica, operational issues caused by colloidal silica, as well as various mitigation measures. MMG Kinsevere observed severe phase-continuity instability, increased crud formation, and reagent consumption, and reduced current efficiency in electrowinning with a deterioration in copper quality. Historical mitigation measures were initially implemented but failed to solve the problem. MMG Kinsevere successfully achieved efficient silica removal without adverse effect on the solvent extraction with the use of DEHSCOFIX® SC12 coagulant. A week into the coagulant trial, silica concentration had dropped from > 1500 mg/L to within 500 mg/L. The solventextraction plant recovered its stability and again operated at maximum capacity. Additionally, improvement was observed on current efficiency and copper cathodes quality with use of the coagulant.

Jan 1, 2023

By R. Asamoah, P. Forson, S. Xu, W. Skinner, M. Zanin

In most auriferous hydrothermal deposits, gold is preferentially associated with pyrite and arsenopyrite minerals, with higher economic gold values noted for the latter and arsenian pyrite minerals. In this paper, surface (Cryo-XPS) and solution (EDTA extraction) analysis were used to characterise pyrite and arsenopyrite minerals under different aqueous conditions involving electrokinetic study and collector interactions to better understand ways of improving the separation of pyrite and arsenopyrite. The evidence showed higher surface oxidation at solution pulp pH values in the range of 4-11 for arsenopyrite relative to pyrite. The observed highest ratio of pyrite to arsenopyrite selectivity was 1.7 at collector concentration of 50 g/t and decreased with an increase in collector concentration. Keywords: EDTA extractable iron, selectivity index, differential flotation, grade engineering

Jan 1, 2020

By J. Arzuúa, U. Castro-Filgueira, L. R. Alejano, F. Malan

"Pillar design for underground mining is typically done using empirical formulae or numerical modelling. Practical experience and recent literature, nevertheless, illustrate the shortcomings of these design approaches. Ongoing monitoring of pillars is therefore recommended to minimize the risk associated with these designs.In a mine where a large number of pillars are cut, different pillar strengths can be expected owing to variations in rock mass strength from area to area. This problem is compounded by the fact that in mining environments the pillars are not always cut according to the prescribed dimensions. Although the original design using either empirical methods or modelling may predict stable pillars, unstable pillars will be encountered in reality. Very conservative designs with large factors of safety may circumvent this problem, but this approach is uneconomical.A possible solution to localized stability problems may be to enhance the strength of a few unstable pillars. It may even be hypothesized that reinforcing a few critical pillars may prevent ‘pillar runs’ on a much larger scale. Rockbolting, strapping of pillars, and pillar shotcreting have occasionally been used in the past as possible solutions. It appears that these have not been successful in all cases and large collapses have occurred in spite of the pillar remedial work.The authors investigated the strapping of pillars by conducting laboratory tests on cabled rock specimens. The results were qualitatively compared to actual attempts of pillar reinforcement available in the literature, as well as additional observations in an old haematite roomand- pillar mine in Spain. Based on these results, the value of steel cabling and mesh wrapped around pillars to improve stability is demonstrated. Some cases where this approach will not be successful are also discussed."

Jan 1, 2017

By C. Hartford, T. Holmes

Bulk-solids handling systems are often the most over-looked component and thereby weakest links in a processing plant’s value chain. Since their performance can dictate that of the entire operation, they actually deserve special attention. When designing a liquid handling plant, density and viscosity are well known and commonly used as design parameters. Bulk solids however, differ. While the design process is similar, the relevant parameters in handling bulk solids are instead friction, cohesive strength, compressibility, and permeability. These then vary depending on the mineralogy, particle size distribution and shape, moisture content, storage time-at-rest, temperature, and consolidation pressure. With so many variables, it becomes important to characterize each individual bulk solid across the full range of representative process conditions within the handling system, plant wide – or if you are not very lucky, suffer the consequences of poor material flow. Measuring flow properties and applying them correctly in bulk solid handling system design reduces project risk, saves significant capital, and drastically increases throughput, especially when done in the early stages of a project. Keywords: Flow Properties, Bulk Solids, Process Conditions, System Design

Jan 1, 2020

By J A. H Campbell

AK6 is a Cretaceous aged kimberlite located in the north-east of Botswana, close to Debswana's Drapa and Letlhakane Mines. It was discovered by Debswana in 1969, but was considered unattractive from an economic perspective. In 2003, Debot Prospecting Pty Ltd ('Debot') re-assessed the area and with the advent of new prospecting technology, particularly large diameter drilling ('LDD') and more detailed ground geophysical surveys found AK6 to be of interest. In 2005, the Boteti joint venture was formed between Debot and African Diamonds plc ('AFD'), which covered a number of Prospecting Licenses, including that which contained AK6.

Jan 1, 2010

By Richard F. Link, Jr. Koch

"A mathematical simulation model has been devised to guide the layout of surface or underground mine workings, drill stations, and drill holes that are established in order to search for tabular ore bodies. The ore bodies may be contained within veins, sedimentary beds (including reefs), or other tabular structures.Programmed for a time-shared digital computer, the model contains both stochastic and deterministic variables. Stochastic or natural variables include the number of ore shoots and their sizes, orientations, locations and values. Deterministic or controllable variables include (i) locations and costs of workings (for underground exploration); (ii) drill station locations and costs; and (iii) drill hole azimuths, inclinations, lengths and deflections (if any).For various assumptions about the natural variables, the model is run while the controllable variables arc changed deliberately. Thus, layouts are devised to determine the percentages of the total number of assumed ore shoots found at different costs. In order to choose among the various layouts, cost-effectiveness measures are calculated."

Jan 1, 2014

By C. C. Birch

Due to grade estimation uncertainty, two statistical errors can occur. The Type I error is where material is classified as ore and mined, despite the true value being below the break-even grade. This material is dilution. The Type II error is where the material is estimated to be below the cut-off grade and is classified as waste, although the true grade is actually above the break-even grade. This material is not mined and is lost. The uncertainty was assumed to follow a normal distribution in a previous study. For this study, estimated block values are compared to those determined after mining (the best estimate of the true grade). This actual data from four mines shows that the uncertainty follows a Laplace. There is no single solution regarding adjusting the cut-off grade away from the break-even grade, considering estimation uncertainty, that could be applied to all gold mines. However, adjusting the cut-off grade downwards (up to 22% for one mine) is noted when optimizing the profit considering grade uncertainties. This type of adjustment could open up significant mining areas and extend the life of the mine.

Jul 2, 2022

By L. M. Tavares, H. A. Petit, P. P. Cavalcanti

Iron ore pellets experience degradation during handling due low energy impacts and stresses. These impacts lead to volume or surface breakage of the pellets, creating fine particles that accumulate along the process. Some of the particles are in contact with the air and are dragged as dust into the workplace or into the atmosphere. The aerodynamic size of the particles allows them to be potentially inhaled by the workers or to be carried to nearby communities. Dust emission becomes critical at specific locations, such as transfer chutes and stockpiles. This work models the dust generation that occurs in an iron ore pellet stockyard using a methodology that combines experiments to quantify the degradation of the pellets to mathematical modelling of the dust emission mechanisms in the stockyard. First, laboratory tests were used to characterise the amount of mass and the particle size distribution of the dust generated by degradation under controlled conditions. Second, the flow over a stockpile of an iron ore pellet company was simulated with the aid of computational fluid dynamics (CFD) simulations. Third, semiempirical equations linked the data generated by simulations and laboratory tests to estimate the dust emission in the stockyard. Finally, results were validated with measured field data, obtained with a novel online measurement tool. Results suggest that the approach is able to predict dust emission with sufficient accuracy and can be used for further implementation in the management of operations and decision making in order to reduce the environmental impact of the process. Keywords: Iron ore pellets, abrasion, dust emission, mathematical modelling

Jan 1, 2020

By A. Galibois, A. Dubé, H. Monette, J. L. Collins

"The start of mining operations often raises serious financial problems. In marginal cases promoters frequently demand financial aid from governments.In the past, the financial assistance has taken the form of gifts, procurement contracts, etc., but aid in such form has been severely criticized. A new formula has been developed to provide a more equitable distribution of the revenues accruing to the government and to private capital.The benefits to these two parties have been evaluated in an hypothetical case and compared in terms of internal rates of return on their investment, their shares of the undiscounted cash flows and their primary profits.The method based on the non-zero sum game theory provides a means for suggesting the lowest feasible annual production and the optimal sum contributed by the government in the form of outright gift, equity capital and convertible bonds. Other financial hypotheses can also be optimized by the computerized analysis."

Jan 1, 2014