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By John R. Bogert

The title of this session is "Wall Street Looks at the Mining Industry," and I am going to attempt to answer the question: Shouldn't Mining Stocks Sell at Higher Price Levels? Or, What Does Wall Street See When Looking at the Mining Industry? Well, it sees a capital intensive business, a technical industry, and a growing industry becoming more vertically integrated. But, at the same time, Wall Street sees a cyclical industry, a fragmented industry of erratic earnings, spotty public relations, a feast-or-famine business where the public usually does not differentiate between coal mining or metal mining, and does not appreciate either the risks or the rewards. As a result, mining stocks generally sell at relatively low price learnings ratios in comparison to other industrial groups. This PIE ratio, the current market price of the capital stock divided by annual earnings per share, is probably the most popular index of a stock's value. The average of the price/ earnings ratios of the 30 stocks comprising the Dow Jones Industrial Average is over 14. This diverse group of stocks is widely regarded as being a cross-section and representative of the industrial companies listed on the New York Stock Exchange. However, in comparison to 14, Asarco and Kennecott shares are currently available for about 8 times annual earnings. Even discounting earnings from South America, the stock of these two companies sells at only 10 times earnings. Of course, Peruvian politics is currently preventing Cerro shares from selling above 6 times earnings, and Chilean politics keeps Anaconda shares at a PIE multiple of 7. However, even in better times, these companies rarely sell above 10 times earnings. American Metal Climax and Newmont sell at only 11 times earnings as does Phelps Dodge and St. Joseph Lead. Few mining companies then have what can be considered a high PIE ratio-a figure higher than

Jan 1, 1970

By L. K. Marshall

Last month's engineering fundamentals article discussed some general considerations of underground mine ventilation. This month's article takes a look at auxiliary ventilation-brattice, fans, and ducting-in underground mines. The need for good, efficient auxiliary ventilation increases as mines get deeper and move farther from ventilation shafts. New mining methods and equipment resulted in faster work area advances, liberating more dust, gas, and heat. As a result, worker health and safety requirements in the face area have become more stringent. For all these reasons the safety and efficiency of any underground mine depends heavily on its auxiliary ventilation. The purpose of such ventilation is to supply sufficient quantities of clean air to the face of the drift and to maintain air quality within desired limits until expelled from the mine.

Jan 2, 1982

By M. M. Botz

There are currently more that 460 mines worldwide that utilize cyanide for gold and silver extraction. Despite this large number of cyanide-related mining operations, there have been no published accounts during the previous 25 years of the death of humans due to cyanide as a direct consequence of major mining-related environmental incidents. All published accounts of human deaths due to mining-related environmental incidents have been the result of physical inundation with tailings or waste rock materials. It appears that major mining-related environmental incidents have not been concentrated in any geographic location, are likely to occur regardless of the size of the mining company and do not occur more frequently with a specific type of mining activity. Several cyanide treatment and recovery technologies have been widely demonstrated to reliably control cyanide levels in mining solutions. With proper use of these technologies, tailings cyanide concentrations can be maintained at levels protective of wildlife while reducing the potential for adverse environmental incidents. The development of an international cyanide code of practice or management plan is recommended and should take into consideration the adoption of a weak-acid-dissociable (WAD) cyanide standard that maintains the levels entering a tailings impoundment below 50 mg/L.

Jan 1, 2001

By R. Strandahl

As one of the largest private utilities globally, E.ON currently operates hard coal fired power stations in with a total installed capacity of some 20.000 MW: These thermal power plants consume domestic coals but are increasingly dependent on imported seaborne traded coal (in 2009 approx. 17 million t). Knowing that the company’s reputation and credibility depends in part on how E.ON lives up to the responsibilities along the entire energy value chain, E.ON takes a collaborative approach with the various suppliers. Hence, E.ON’s responsible policy also applies to the procurement of coal; the utility launched in 2009 a comprehensive Corporate Responsibility program with special focus on supply-chain audits. One of the first coal audits focussed on the Cerrejón coal mine in North Eastern Colombia. The authors will share the key learning’s and experience from the Colombian audit jointly conducted with an independent auditor and E.ON experts from the Corporate CR and E.ON Energy Trading.

Jan 1, 2011

By S. S. Hsieh

Bench-scale beneficiation studies were made on Idaho dolomitic phosphate rock using the TVA carbonate flotation process. The process employed diphosphonic acid as a phosphate mineral depressant and fatty acid as a carbonate mineral collector. Silica was subsequently rejected as float using an amine collector, with phosphate product recovered as the sink fraction. Two samples of prepared flotation feed from commercial operation were used; one contained 21% P205 and 3.2% MgO, and the other contained 26% P205 and 1.8% MgO. The results indicate that concentrates containing 31-33% P205 and 1% or less MgO can be obtained, with P205 recovery of about 80%.

Jan 1, 1984

By Christopher J. Bise

INTRODUCTION Traditionally, the purpose of mine ventilation has been defined as diluting, rendering harmless, and sweeping away hazardous gases which may accumulate in the mine workings. In addition, the ventilation sys- tem must keep the mine air as close as possible to the composition of the outside air in order to provide a healthy environment for mineworkers and to prolong the useful life of mine equipment. When plans are being developed for opening a new mine, sound engineering dictates that a calculated estimate be made of both the maximum air quantity requirement and the accept- able mine pressure (head) loss related to the under- ground layout and projections. For efficient mine ventilation, the two problem areas that demand constant attention are (1) the control of fugitive air (through short circuiting or leakage) and (2) the provision of ample airway capacity. Fugitive air is that quantity of air which enters the mine but short-circuits the mine ventilation system through improperly constructed stoppings, doors, overcasts, etc.; it represents an investment in power consumption (to move the air by the fan) while providing little, if any, return on the investment. Typically, efficient mines are those that can deliver 50% of the air handled by their fans to the working faces. Paying close attention to a new mine's ventilation system at the outset can provide numerous benefits during the later stages of mine development. It has often been noted that the main cause of trouble in many mine ventilation systems can be found within a radius of 2500 ft from the fan installation. Ample airway capacity is essential to maintain the mine's head loss within manageable limits. Similar to an industrial ventilation setting, the mine's headings are the ductwork for the handling of air. The difference between normal industrial ventilation and mine ventilation is apparent when more capacity is needed; a plant can install new or larger ductwork, but it is difficult for a mine to install new entries or enlarge existing entries. Air velocities are usually maintained under 800 fpm to limit the stirring up of dust in the intakes. With this in mind, it is usually simple to estimate the number of entries required in the ventilation system. The problem that often arises, though, is when the system's capacity is overestimated and the required head loss to achieve the desired quantity is excessive. Experience has shown that problems are often encountered when the mine's condition requires much more than three inches of water gage to ventilate the mine on a day-to-day basis. Thus, if proper attention is not paid to these parameters in the preplanning and initial development of a new mine, it may take an extremely high water gage to achieve the ultimate quantity. This chapter will not delve deeply into the theory of mine ventilation; many other books have been writ- ten on that subject. Instead, the following sections will point out the important considerations that should take place before the development of a mine ventilation system, as they relate to normal industry practice. FUNDAMENTALS OF AIRFLOW Volume Versus Water Gage The common method of measuring ventilation pressure is in terms of inches of water gage (wg); one inch of water corresponds to a pressure of 5.2 psf (pounds per square foot). Further, airflow follows a square-law relationship between volumes and pressures where, as shown in the previous section, a doubling of quantity requires a quadrupling of pressure. Table 1 shows how heads and quantities are related. Using Table 1, it is readily apparent that, for the same mining conditions, an increase in pressure from one inch wg to three inches wg results in only 34,640 cfm when the initial quantity is 20,000 cfm. Pressure Losses Pressure losses in mine ventilation systems are caused by friction between the heading walls and the air stream and by shock losses due to abrupt changes of the air stream caused by obstructions. The common pressure-loss formula for mine ventilation is: [ ] where H is the pressure loss in inches of water gage, K is the coefficient of friction, L is the length of the airway in feet, 0 is the airway perimeter in feet, V is the air velocity in feet per minute, and A is the cross-sectional area of the airway in square feet. Table 2 lists the US Bureau of Mines schedule of friction factors (K) for mine airways. Recent research indicates that the values of K are slightly less for coal mines than those presented in the USBM Schedule, and Table 3 should be consulted in this instance. It should be

Jan 1, 1986

By M. R. Haibach, M. L. Shema, J. M. Silvis

"Since 2005, longwall coal mine operators in Pennsylvania (US) have been required to collect extensive hydrologic and biological data to document pre- and post-mining conditions of aquatic resources (streams and wetlands) overlying the subsidence control plan areas. Continued operation of the longwall mine is dependent upon empirical data demonstrating that the undermined aquatic resources have either been maintained or restored to an accepted range of pre-mining conditions. This study used quantitative hydrologic methods and comparative biological metrics to examine response of aquatic resources to longwall subsidence at the Bailey Mine located in Greene County, Pennsylvania. This study analyzed data from over 25 miles of streams and over 8 acres of wetlands that traverse the 4,779-acre study area. Hydrologic analysis of flow intermittency suggested that there are variable degrees of change to headwater streams immediately following mining; however, the majority of the effects are reversible through streamflow mitigation measures. Furthermore, the post-mining discharge from streams can be restored to within the range of pre-mining conditions the majority of the time. Biological assessments showed that greater than 95% of assessed stream length has maintained its ability to support benthic macroinvertebrate communities following mining and intervention (i.e., mitigation). Comparative metrics of the benthic macroinvertebrate communities showed that the biological community in 48 of the 50 sample sites is being maintained or restored across both high- and low-gradient streams. The effectiveness of intervention was further substantiated by the similarity in recovery times between streams having no intervention (median = 2.1 years, 95th percentile = 4.9 years) and streams with intervention, when recovery times were measured from the date of the intervention (median = 1.7 years, 95th percentile = 4.7 years). Changes to individual wetlands were observed between the pre- and post-mining assessments, but cumulatively a net gain of 7% in wetland acreage was realized. Hydrologic assessments were used to infer whether there was a potential that streams had been affected by mining; however, the ultimate test of stream recovery is based on biological metrics that establish the relative quality of the biological communities following mining. Overall, the hydrologic balance is being protected and the aquatic life use of streams is being maintained within the Bailey Mine’s subsidence control plan areas."

Jan 1, 2017

By Matthew Wallin

A part of the East Bay Municipal Utility District?s Folsom South Canal Connection Project, 430 feet of raw water pipe was installed using micro tunneling beneath the Mokelumne River. The access shafts for this crossing were constructed 50 and 35 feet deep through very dense sands and soft sandstone and siltstone. High groundwater and the immediate source of recharge from the river required watertight shaft construction methods. The shaft contractor, Drill Tech of Antioch, CA, used a brand new Bauer cutter-soil mixing (CSM) rig to construct the large shafts. The structural concept is similar to secant piles, but instead of creating cylinders of soilcrete, the CSM rig creates interlocking rectangular panels. This technology has been used previously in Europe, Asia, and Canada, but this was the first project to use CSM technology in the United States. Cutter-soil mixing technology has other applications beyond shaft construction, including retaining wall construction and levee reinforcement.

By Edward (Ted) Dowey

City Water Tunnel No. 3 is being built in order to provide a redundant system for delivering 4,542,500 m3 (1.2 billion gallons) of water per day throughout the five boroughs of New York City. The present tunnels, City Tunnel No. 1 and 2 (Figure 1), were put in service in 1917 and 1936 respectively, and both have been in continuous service. Tunnels No. 1 and 2 can-not be shut down for inspection or repair until City Tunnel No. 3 has been completed. City Tunnel No. 3 has two stages (Figure 1).Stage One is 20.1 km (12.5 mi) long and is presently delivering drinking water to the boroughs of the Bronx and Manhattan. Stage Two consists of the Brooklyn-Queens Tunnel 17.7 km (11 mi) and the Manhattan Tunnel 14 km (9 mi). The Brooklyn-Queens leg is complete and is set to be put in service soon. The Manhattan Tunnel is being constructed and is the subject of this paper. The Manhattan Tunnel (Figure 1) is comprised of three legs: the north, south and east legs. The con-tract includes the excavation of 8,976 m (29,500 ft) of tunnel and the lining of 14,561 m (47,773 ft) of tunnel. The south tunnel, 5,705 m (18,720 ft), was excavated but not lined, under a previous contract. The tunnel ranges from 181 m (600 ft) to 152 m (500 ft) in depth in the bedrock under Manhattan. The tunnel contract also includes the construction of nine new shafts, 161 m (530 ft) average depth, and the completion of a tenth shaft (the previously built construction shaft). The Manhattan Tunnel contract was awarded to the sole bidder Schiavone/Shea/Frontier Kemper Joint Venture (SSF) for $668,532,680.00, on January 31, 2005. The Manhattan Tunnel was designed ?in house? by the New York City Department of Environmental Protection (DEP) and the construction management was provided by a combined staff of the DEP and a joint venture of Jenny Engineering and URS.

Jan 1, 2008

By William R. Yernberg

The combined 75th Annual Minnesota Section of SME meeting and 63rd Annual University of Minnesota Mining Symposium was held April 9 and 10, 2002, in Duluth, MN. This year’s theme was “Keys to the Future: Imagination, Innovation and Technology.” The meeting consisted of plenary and technical sessions and a special General Manager’s Session. The technical paper presentations included concurrent mining and mineral processing sessions. In the General Manager’s Session, representatives from the region’s taconite operations presented the current status, concerns and future plans for each of their operations.

Jan 1, 2002

By Michael Jatczak

The San Vicente Tunnel Project is an 11-mile water tunnel constructed for the San Diego County Water Authority. One of the many challenges of the project included tunneling a 22,000-foot single-heading tunnel on the western half of the job in varying geology using a 3.66m (12ft) diameter open shield excavator or ?digger shield.? This paper will discuss the design considerations for the temporary liner, the tunneling, and ancillary equipment. It will also highlight the challenges faced while mining this geology, explain the methods implemented to drive this section of tunnel, and discuss the experiences while performing mechanized tunneling in an extensive and varied San Diego geology.

By J. L. Cupp, R. C. Ford, B. R. Romig

The Climax Molybdenum Mine, located near Leadville, Colorado, is the site of a lengthy mining history spanning more than 80 years. In the 1960’s, extraction of molybdenum from oxide ore located adjacent to the massive molybdenite sulfide deposit resulted in the construction of an earthen core dam to impound fine-grained oxide tailing in the Eagle River Valley. Through recognized value of water storage and reclamation opportunities, a tailing removal project was initiated in 1993 to convert the impoundment facilities to a post-mining beneficial land use of developed water resources. An evaluation of the effect residual materials and lake dynamics would have on in-stream water quality was performed. Eagle Park Reservoir stands as a model for future reclamation efforts that involve water delivery to highly sensitive receiving waters. This paper provides a case study on project development, the evolution of water quality assessment, and the regulatory framework that contributed to this project’s success.

Jan 1, 1999

By J. MacFadyen

The U.S. cement industry, including Puerto Rico, again set a record in terms of production and shipments. The increase in shipments came primarily from imports of portland cement as domestic production from produced and imported clinker gained only 1.9 Mt (2.1 million st). Clinker production as reported to the U.S. Geological Survey (USGS) was 88.6 Mt (97.6 million st), an increase of 1 percent. Gray and white portland cement production from domestic and imported clinker, estimated at 93.5 Mt (103 million st), was up 1.9 Mt (2.1 million st). Masonry cement shipments of 5.5 Mt (6 million st), which equates closely to production, was up 6.3 percent. Blended ce-ment shipments were up 35.9 percent from 2004 at 2.35 Mt (2.6 million st).

Jan 1, 2006

According to the classification of water conservation mining in shallow coal seams in China, when the ratio of the impermeable layer thickness to the mining height is less than 18, the mining belongs to the category of special water conservation, and the strip backfilling mining method is employed. This study is based on the geological conditions in northern Shaanxi. By analyzing the stability of the impermeable layer, the stability criterion of the impermeable layer was developed. The study also investigated the compositions and properties of the backfilling materials. The results show that reasonable subsidence of the impermeable layer is allowed during mining under the basic precondition (upward cracks and downward cracks are not connected).

Jan 7, 2020

By Enrique Hermana, Raymond F. Dalton, Raymond Price, Barry Hoffman

Introduction Chloride leaching of sulfidic ores has been known about for 100 years. It is recognized as a highly efficient process to produce concentrated leach solutions. Despite this, chloride leaching found little practical application until recently because of the highly corrosive nature of concentrated chloride solutions. This situation changed with the advent of modern construction materials such as GRP, polypropylene, butyl rubber, etc. And in the past 20 years, research has burgeoned in the area of chloride hydrometallurgy. The research impetus stemmed from the belief that chloride leaching can provide an alternative to smelters for treating conventional copper concentrates. In addition, chloride leaching was thought to be suitable for on-site refining of copper at small tonnage operations located in remote areas. And chloride leaching was seen as a logical choice for treating unusual or complex concentrates that smelters could not handle. Underpinning these beliefs is the attraction of chloride-based hydrometallurgical processes for sulfidic ores. Sulfur is liberated in the environmentally acceptable elemental form rather than as sulfur dioxide. Consequently, sulfidic copper ores have received much attention. A review of Edmiston in 1984 describes 12 chloride-based processes. All managed to progress past the "laboratory beaker" stage of evaluation. In nine of these processes, copper is recovered electrolytically. Key features of these processes are summarized in Table 1. Table 1 shows that the processes must include a copper solvent-extraction step. Only these processes produce a clean copper electrolyte capable, with no further refining, of directly producing high quality cathode copper. The ICI/Elkem process is the exception here. The rest of these processes use o-hydroxyaryloxime reagents for the solvent extraction of copper and are constrained by the performance of these reagents. This is governed by hydrogen ion concentration (Equation 1). The practical result is that only relatively dilute copper solutions can be treated (Canmet, Phelps Dodge), or careful pH control or adjustment is necessary (Minimet Recherche, B.H.A.S.). This negates one of the attractive features of chloride leaching - its ability to produce very concentrated copper solutions, up to 40-45 gl-1. [ ] In all four processes using o¬hydroxyaryloxime extractants, solvent extraction transfers the copper from the chloride to the sulfate medium. To minimize cross-contamination of the two anions, the loaded organic solvent has to be scrubbed to remove the chloride ion. This represents an additional complication in the solvent extraction circuit. And it

Jan 1, 1988

The ability to optimise a concentrator from mill feed to final products requires a simulator which integrates comminution, classification and separation modelling. In order to model this range of processes, such a simulator must handle a variety of information about the ore. The AMIRA P9 project has developed a whole-of-concentrator simulation capability which brings together a texture-based model of mineral liberation, quantitative X-ray micro-tomography analysis to measure the inputs required by this model, and a multi-component simulator software framework. In the context of this approach, the term ?multi-component? implies the ability of the simulation to handle many particle properties simultaneously; for example size, composition, density, floatability etc. The simulation software framework provides the means to manage the flow of data around a circuit flowsheet, allowing each process model to access the information relevant to that particular model. A case study based on plant data from a gold-bearing pyrite concentrator is used to demonstrate the capabilities of the multi-component approach in simulating circuits which contain comminution and separation processes.

Feb 27, 2013

By M. M. Gadde

Recent regulatory changes in the United States make it mandatory to conduct structural analysis of coal mine seals used to isolate abandoned workings from active mining areas. Different loading criteria are available for seal design depending on whether gob composition is actively monitored and maintained or not and whether the gob conditions lead to deflagration or detonation type loading. Since the loads involved in seal designs are dynamic in nature, the structural analysis must be made using dynamic stress analysis techniques. However, because of the significant complexities involved in conducting dynamic analyses, some designers use approximate simplified techniques to address the design problem. In this paper two such simplified methods are critically evaluated for their suitability to design coal mine seals. The benefits and limitations of the simplified methods are also outlined. Some comparisons are made to show the differences between sophisticated three dimensional dynamic analyses and the simplified methods and to delineate the problems associated with the latter approaches.

Jan 1, 2009

By William H. Hansmire

The Modified Detroit River Outfall No. 2 (MOD DRO-2) will discharge treated wastewater to the Detroit River. Construction of a 6.4-m-diameter, 1.9-km-long tunnel was halted in 2003 by flooding during tunneling with an open face hard rock TBM. A new design for a higher rock tunnel, a ?Modified? design, was completed in 2007 and Notice to Proceed to the tunnel contractor was given in November 2008. Project duration is four years for completion of tunneling and start of outfall tunnel operation. This tunneling project has high groundwater pressure (5 bar), pervious limestone rock of up to 140 MPa (20,000 psi) strength, and hydrogen sulphide in the groundwater. The new tunnel will be connecting to access shafts and outfall diffuser riser shafts previously built for the now-abandoned tunnel. The new tunnel design construction contract, and initial planning to use a pressurized-face (slurry) hard rock TBM are presented.

By K. Kohli

A case study involving a historic structure undermined by longwall mining is presented in this paper. The location of this study is in South Western-Pennsylvania; USA. The structure is 150-years old and subsided 4.5 feet. This paper discusses the mitigation measures taken to reduce the subsidence damage and its effectiveness.

Jan 1, 2002

By H. I. Kim

The leaching of a complex matte in chlorine and chloride media was studied. The matte was prepared from manganese nodules by the reduction smelting-sulfidation route. From XRD analysis, the major phases of the matte were identified as CuFeS2, CuS2, (FeNi)9S8, (FeNi)S2, Ni9S8, Ni3S2, (CoFeNi)9S8 and Co metal. Investigated were the chlorine, hydrochloric acid, hydrochloric acid-oxygen, ferric chloride, ferric chloride-oxygen, cupric chloride and cupric chloride-oxygen systems. The results are discussed in terms of reagent concentration, retention time, leach temperature and gas sparging rate. The chlorination process resulted >99% metal extraction efficiency within a short retention time and at atmospheric temperature. However, there were no preferential extractions of Cu, Ni and Co with respect to Fe. The cupric chloride-oxygen system produced leach liquors with the lowest Fe content and with a high base-metal extraction. Sulfide sulfur was converted to mixtures of elemental sulfur and sulfate in all the studied systems.

Jan 1, 2009