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By George A. Roche

Since our firm was established by Mr. Price in 1937, we have followed an investment philosophy which is based on the belief that investment in growth stocks is the most assured way of achieving superior, long term investment accomplishment. There are many criteria that we use to select growth companies but the most important is a combination of superior management operating in an industry with above average growth potential. This growth stock approach is the cornerstone of our investment strategy for two of the three mutual funds sponsored by the Price organization and for our private clients. However, during the past 5 years we have seen inflation accelerate due to a variety of factors including the inability of our government to meet seemingly unlimited needs with limited revenue sources. While there might be temporary periods of price stability, we believe that inflation will still continue to be the investor's greatest problem in future years. Our conviction that inflation would increase combined with the acceleration of inflation in the late 1960s stimulated an intensive investment research effort, on our part, to identify those companies with strong natural resource bases -- who own or control large, secure, and low cost tangible assets. Over the longer term and in an environment of a depreciating dollar some of these firms should be able to develop and sell these assets at higher prices. While we still believe that investing in growth companies is a sound investment strategy to offset inflation, we also believe that certain natural resource companies will show well above average investment performance. In the newest Price mutual fund, The Rowe Price New Era Fund, we have, as a matter of policy, placed a large portion of the portfolio in natural resource companies.

Jan 1, 1972

By S. A. Diatchkov

There is a misconception that mineral-project economic evaluations in the former Soviet Union are either nonexistent or very limited. This is not the case. In fact, there are at least two basic methods that can be utilized to evaluate the vast mineral resources of the Commonwealth of Independent States (CIS). Evaluation procedures are based either on a comparison to known projects, which may rely on limited available data, or on potential-profit calculations, which generally uses more extensive databases. Significant philosophical differences between these systems and those utilized in the Western world include the following: •Under the centralized-government system, the economic evaluation of a mineral project was based on artificially determined mineral prices and costs. Every ten to 12 years, prices for concentrates and metals were established by the Council of Ministers and remained unchanged until the next reconsideration of prices .

Jan 1, 1995

By J. A. M. Cano

An extensive research work was developed by Samarco Mineracao S/A to study the quality characteristics of blast furnace pellets produced with high content of MgO. Comparative blast furnace simulation tests were conducted both in Samarco and foreign laboratories. The objective was to evaluate the behavior of high MgO and normal Samarco pellets in the blast furnace operation. Additives such as dolomitic hydrated lime, dunite and magnesite were used for increasing pellet MgO content. The test results showed that pellets produced with high MgO content are similar in quality to normal Samarco Pellets.

Jan 1, 1991

By Steve Kral

Americans are taking a more critical view of various environmental laws because the effects of those laws are becoming more pervasive and intrusive, according to William Perry Pendley. And Secretary of the Interior Bruce Babbitt is seemingly so unpopular in the West, he no longer campaigns there for Clinton Administration policies. Pendley is president and chief legal officer of the Mountain States Legal Foundation, a public service, non-profit law association that takes on property rights cases for people who cannot afford representation. He was one of the luncheon speakers at the 101st Northwest Mining Association meeting, held in Spokane, WA in early December.

Jan 1, 1996

By Nathaniel Arbiter

A fully-instrumented driving mechanism has been constructed to study the power, aerating and solid suspension characteristics of several laboratory flotation machines. Machines operating over normal flotation speed ranges give constant power numbers in liquid' systems indicating that they operate under fully baffled turbulent flow conditions. Owing to lack of geometrical scaling, power numbers for different sizes of cells of the same make are different. Even larger differences occur between cells of different manufactures. For a given impeller, varying the tank size did not significantly affect the power consumption. Tank geometry and baffling has a slight effect on power consumption with shrouded impellers. For a given impeller speed, suspension height decreases while power increases with increasing mass of solids in suspension. While power consumption is hardly affected by particle size and clearance between the impeller and tank bottom, the suspension height significantly increases as clearance increases and as particle size decreases. Aeration was found to affect not only power but also the suspension characteristics of the machine. For closely sized particles drastic sedimentation occurred when a critical value of the air flow number was exceeded. The critical air flow number decreased with increasing particle size. This effect was less marked with a wide particle size range. The self-aerating capacity of flotation machines increases with cell size at a given speed for the same impeller-shroud system, but decreases in the presence of frother and solids. Equations have been established for correlating all of the studied variables. Data taken from the literature were also correlated with these equations.

Jan 1, 1968

By C. Athanassopoulos

Geomembranes have been used in the mining industry since the early 1970s in solution and evaporation ponds, tailings impoundments, and heap leach pads. Traditionally, heap leach pad lining systems have consisted of a single geomembrane liner placed directly over a prepared subgrade of locally available soil. Heap fills are constructed by placing a layer of highly-permeable drainage stone (overliner) over the geomembrane. Crushed ore is then placed on the leach pad in 3- to 10-m (15- to 30-foot) thick lifts, sometimes reaching final heights of several hundred feet. The crushed ore is irrigated with a chemical solution which dissolves the precious metals from the ore. The nature of the chemical leaching solution depends on the metal being targeted. Low pH sulfuric acid solutions are generally used to leach copper and nickel; high pH cyanide solutions are used to leach gold and silver. The metal-laden pregnant leach solution (PLS) passes down through the ore pile and is captured in a drainage system. Metals are extracted from the leach solution and the solution is then recycled back onto the leach pile. When under load, geomembranes are vulnerable to damage from large stones both in the soil subgrade and in the overlying drainage layer. Although intact geomembranes are virtually impermeable, installed geomembranes will have a small number of holes due to imperfect seams or damage during construction and filling operations. These holes serve as open pathways for leakage into the soil below. Smith and Welkner (1995) estimated liner leakage rates ranging from 5 to 10,000 L/ha/day, depending on the type of heap pad liner and level of construction quality assurance (CQA). Thiel and Smith (2003) reported liner leakage rates up to 2,000 L/ha/day for a valley fill facility with heads ranging from 15 to 35 m.

Jan 1, 2011

By William A. Cline

The iron mine and beneficiation facilities of Marcona Mining Company are located on the coast of south central Peru. The facilities include an open pit mine, crushing, concentrator containing grinding, magnetic-separation and flotation facilities, pelletizing plants and a completely self sufficient infrastructure. Total production capability is about 10,000,000 DLTPY, of which almost 6,000,000 DLT result from the fine-grind magnetic concentrate. Over 1,500,000 DLT of fine-grind concentrate is obtained from processing high-pyrrhotite ore. Although the orebody contains quantities of oxidized primary ore and transitional ores (mixed magnetite and hematite), the principal ore is predominantly a coarsely crystalline to fine grained massive magnetite.(l-3) In the primary ore the major impurities found are silicates and the iron sulfides- pyrite and pyrrhotite. Sulfur levels typically average about three percent although levels of five percent are not unusual and some ores contain up to ten percent total sulfides. In general the silicates and pyrite are readily rejected from finely ground primary ore by magnetic separation and very basic froth flotation processes. The high iron, low sulfur concentrate produced is particularly suitable for production of high quality oxide pellets. However, pyrrhotite is not removed from the magnetite matrix by either of' these simple beneficiation methods.

Jan 1, 1974

By Alan A. Campoli

The US Bureau of Mines (USBM) conducted research to develop improved guidelines for selecting the type and pattern of roof support in different geologic environments. The goal is to minimize the over and under design of mine roof support, resulting in more productive and safer mines. To obtain the necessary data on roof behavior and support performance, USBM conducted several field studies. Each study covers roof geology, stress regime, ground reaction, support interaction and mining environment. A consistent experimental design is being used. This includes measurements of roof bolt loads and roof movements. So far, 10 studies have been conducted in several geologic settings.

Jan 1, 1996

By S. G. Sawyer

The Pittsburgh Safety and Health Technology Center (PSHTC) of the Mine Safety and Health Administration (MSHA) provides engineering and scientific support to the inspectorate personnel of MSHA. One of the Center's myriad roles is to assist in the investigation of mining accidents, especially those involving fatalities. Center personnel utilize forensics to help uncover the causes of accidents and to make technical recommendations on the prevention of future similar mishaps. To exemplify a typical forensic investigation, this paper documents the methodology used in determining the reasons for a boat sinking, which resulted in a double fatality on a mine company pond.

Jan 1, 1997

In addition to capital and operating costs, the accurate estimation of ore reserves is a key component to the successful outcome of any feasibility study. In recent years, there have been many project failures caused by the improper estimation of ore reserves. The accurate estimation of an ore reserve relies heavily on an understanding of the geology and the underlying assumptions unique to the estimation techniques being used. These assumptions are reviewed, and the shortcomings of the estimation techniques and their possible impact on a given project's economics are discussed. The latest developments in geostatistics in overcoming existing reserve-estimation problems are presented.

Jan 1, 1998

By I. Mazalov, G. Ospanova

Introduction Today, uranium is of great interest because of its application to nuclear power and nuclear weapons. Kazakhstan has been an important source of uranium for more than fifty years. All uranium products are exported. Results In Kazakhstan uranium exploration started in 1948 and developed in several parts of the country thru mining of hard rock deposits. There are known around 50 uranium deposits in six provinces: Shu-Sarysuyskaya (57%), North Kazakhstan (18%), Syrdaryinskaya (15%), Ilyiskaya (7%), Caspian (2%), Balkhash (1%). In the Northern Kazakhstan province, KazSabton took over Tselinny Mining & Chemical Co in 1999. In this province the stockwork is of Paleozoic and Paleozoic folded complexes origin. In the Balkash province some mining of volcanogenic deposits occurred during the Soviet era. This province’s stockwork is of Endogenous origin.In the Ili province uraniumis mainly found in uranium-coal deposits formed by oxidation of the lignite beds roofs. In the Caspian province the Prikaspisky Combine operated since the 1960s a major mining and processing complex on the Mangyshalk Peninsula. This led to the founding of Aktau. It was privatised as Kaskor in 1992 and operations ceased in 1994. The uranium occurrence is associated with the phosphorous from fossil fish bone detritus conglomeration. In the Chu-Sarysu province, which has more than half the country's known resources, both Stepnoye and Tsentralnoye have been operating since 1978 and 1982 respectively. Uranium mineralization occurred in the regional stratum oxidation zones. In the Syrdarya province slightly to the west of the province’s center the No.6 Mining group has been operating since 1985. Uranium mineralization occurred in the regional stratum oxidation zones.

Jan 1, 2007

By Terry Owen

Business development process. Throughout Cyprus Amax's early months in Russia, the company stayed focused on what was needed from a deposit for economic success. Cyprus Amax's reason for success in Russia is that all involved - its Russian partners, the workforce and expatriates - provided a focused effort that served the project as it worked through the tender process and the Russian regulations. The company developed an understanding of the regulatory process by working with solid, ethical partners. Infused into the Kubaka management structure were Russians with the knowledge to facilitate the process and a professional group of expatriates. Developing credibility and a solid rapport with the Russian mining authority was critical to the success of this venture. Identifying and gaining the trust of key Russian individuals was also critical during the early stages. Gaining their trust and building credibility was part of the process. These key Russians were brought to the United States to visit existing Cyprus Amax mines. These efforts proved valuable in building an understanding with the Russians about the kind of company Cyprus Amax is and the kind of efficient operations that it can run. This was a learning process for all parties. Fortunately, the company was dealing with intelligent and educated people.

Jan 1, 1997

"A long-term mine production schedule optimization based on stochastic integer programming is presented that manages the risk due to geological variability and uncertainty while jointly considering mine profitability, truck fleet requirements and waste management. The evolution of the pit is controlled so that space within the mined-out pit is continuously provided to allow for tailings and waste rock to be replaced, thus minimizing the project’s environmental footprint. The method is applied at a taconite iron ore deposit and has a project net present value that is 16.9 percent higher than that of a conventional schedule and has a higher chance of meeting production forecasts. The stochastic schedule reduces equipment requirements by delaying waste mining and by mining selectively in order to meet plant ore feed requirements without stockpiling material, resulting in 23.7 and 26.2 percent lower mining capital and operating costs, respectively. IntroductionThe LabMag iron ore deposit is part of the Millennium Iron Range, a 210-km (130-mile) belt of taconite in northern Quebec and Labrador, Canada. LabMag has significant economic potential. It contains more than 3.3 Gt (3.6 billion st) of proven reserves at an average total iron content of 29.8 percent and is very low in impurities. However, on a project basis of 23 Mt/a (25 million stpy) of product, the required capital expenditure is estimated at more than $5 billion (SNC-Lavalin, 2014), which necessitates careful evaluation of all sources of risk. Resource estimation is one of the main sources of risk in a mining project as knowledge of the orebody is primarily based on drilling, which is often sparse because it is expensive. If the expected ore tonnages and qualities are not obtained when mining, the project cash flows are directly affected. The expected quantities and qualities of ore and waste are defined by the mine production schedule, which specifies the sequence of extraction and is dependent on the resource estimation. The goal of mine production scheduling is thus to maximize the expected profit, while also meeting all production targets and constraints, by creating an extraction schedule that is robust in the face of geological risk and has the highest chance possible of actually being realized."

Jan 10, 2017

By B. Petri, N. Rouse

"Air overpressure monitoring procedures and instrumentation guidelines which apply to production blasting in underground limestone mining are not readily available. The industry also lacks an applicable source for air overpressure levels that are produced by blasting operations in underground limestone mines. As such, there was no available background data from which the expected overpressure levels from production blasting in a new underground limestone mine could be predicted. During the development phase of the mine, it was imperative that newly constructed underground structures be capable of withstanding the overpressure produced by blasting in nearby production headings. To ensure the structures could withstand the blast-induced overpressure, a study was conducted to record empirical overpressure data and develop a model which could be used to control air overpressure levels by the production crews. This document describes the procedures used to develop the model, the development of the model, and the applicability of the model for predicting underground blast overpressures. INTRODUCTION A developing underground limestone mining operation required that a ventilation wall be built to house the permanent mine fans. At the time of the study, the mine was a single-level room and pillar operation with a 7.9 meter (26 ft) high roof, 13.7 meter (45 ft) wide entries, and 13.7 meter by 13.7 meter (45 ft by 45 ft) pillar dimensions. The mine is accessed via a 396 meter (1300 ft) long decline and 100 meter (330 ft) deep ventilation shaft. The ventilation wall was to be partially constructed of autoclaved aerated concrete blocks, for which dynamic strength data from explosives loading were unavailable. The company ownership feared that airblast may affect the wall due to the close proximity of the working faces. Therefore, the company management asked that the overpressure levels be estimated and compared with the designed wall strength. Few studies that apply to explosively-driven air overpressure levels in underground production blasting were found through a literature review. Therefore, the logical approach to assess the overpressure levels was to monitor the blast pressures at the site and conduct a thorough evaluation of the data. As a result of this study, the equipment setup and monitoring procedure used to record the airblast data is described. Finally, the experimental data gathered during the monitoring program is presented, trends and findings from the data are discussed, and recommendations for further study are presented."

Jan 1, 2015

By R. Lai

This paper describes the application of a cyclonic flotation column (CFC) for coal cleaning. A CFC makes use of centrifugal force to create a density gradient in a column to augment the froth flotation process. In a CFC, a series of angular helical inserts is attached to the wall of a conventional column and coal slurry is mixed with a series of impellers attached to a central shaft. The hydrophobic froth concentrates near the center shaft and moves upward, while the relatively heavy hydrophilic particles concentrate near the wall and are guided downward by the helical inserts. Results of pyritic sulfur removal from an Upper Freeport coal during CFC flotation are discussed in this paper.

Jan 1, 2000

By Chee Theng

"Mineral processors know you can put in the best technology in the world but it won’t work optimally without the support of the operators. Conversely, you may have complete operator support but won’t get top results without the right technology. When the two come together, the returns can be phenomenal.The first day of talks at the 68th Annual Colorado MPD Conference, held April 26-28 at The Broadmoor in Colorado Springs, covered the ground on these industry wisdoms.Coming together as a team“Think of the people, not just the lab and the numbers. That makes all the difference,” said Dee Kippers, of FMI Henderson Mine, in her talk on “Process optimization during a market downturn (A Moly MacGyver story).” Kippers told an entertaining story of the journey she and her team took in tackling the issue of an annual spike in iron content in the product at Freeport- McMoRan’s Henderson primary molybdenum mine near Empire, CO.As the metallurgists tried one thing after another — cranking up the iron depressant, adjusting pH with sodium hydroxide and hydrated lime, modifying reagent levels — Kippers found that when she shared her results with the operators, communicated with them on what she was doing and got their input, they were more willing to work with her, and more understanding and supportive of her efforts.The results make the case for getting people on board and coming together as a team. The cost savings from their optimization efforts, with little capital investment, have been “enough to cover the annual salaries of our metallurgy department and then some,” Kippers said.Considering the environmentDavid Lemieux, of Dundee Sustainable Technologies (DST), talked next on “Cyanidefree process for gold extraction,” presenting the results obtained from a demonstration campaign of the company’s novel chlorination process for gold extraction and associated arsenic stabilization process. Developed at an investment cost of C$35 million, they are ready for commercialization, having been demonstrated on the laboratory, pilot and demonstration scales.The DST process is differentiated from the Plattner chlorination process, which was in use from 1851 to 1916, by moderate process conditions of atmospheric pressure and ambient temperature — the result of using sodium hypochlorite solution, or bleach, instead of direct injection of chlorine gas — and new, cheaper materials of construction, such as polymers, plastics, fiberreinforced plastics and Teflon, resulting in lower capital and operating expenditures."

Jan 7, 2018

By D. Parks, A. Miller, M. McNinch, R. Jacksha, H. Nickerson

Each year hundreds of mine workers are involved in machinery-related accidents. Many of these accidents involve inadequate or improper use of lockout/tagout (LOTO) procedures. To mitigate the occurrence of these accidents, new safety methods are needed to monitor access to hazardous areas around operating machinery, improve documentation/monitoring of maintenance that requires shutdown of the machinery, and prevent unexpected startup or movement during machine maintenance activities. The National Institute for Occupational Safety and Health (NIOSH) is currently researching the application of Internet of Things (IoT) technologies to provide intelligent machine monitoring as part of a comprehensive LOTO program. This paper introduces NIOSH’s implementation of an IoT-based intelligent machine monitoring system to improve safety during operation and maintenance at a concrete batch plant. INTRODUCTION Of the hundreds of machinery-related accidents occurring every year in the mining industry, incidents involving stationary machinery at surface mines continue to be amongst the most frequent [1]. A National Institute for Occupational Safety and Health (NIOSH) study showed that the majority of fatal accidents involving stationary machinery at surface mines occurred at sand and gravel (38%) and stone (26%) operations. Of these accidents, entanglement in conveyor components were the most common cause of fatal accidents (48%) [2]. The same study stated that one-third of these accidents involved improper lockout/tagout (LOTO) procedures as a contributing factor. The U.S. Mine Safety and Health Administration (MSHA) acknowledged this problem, stating in a recent request for information (RFI) [3]: “Since 2007, there have been 17 fatalities related to working near or around belt conveyors, of which 76 percent were related to miners becoming entangled in belt drives, belt rollers, and discharge points. Factors that contribute to entanglement hazards include inadequate or missing guards, inadequate or an insufficient number of crossovers in strategic locations, and/or inappropriate lock out/tag out procedures. Systems that can sense a miner's presence in hazardous locations; ensure that machine guards are properly secured in place; and/or ensure machines are properly locked out and tagged out during maintenance would reduce fatalities [3].” In response to this problem, NIOSH’s Spokane Mining Research Division (SMRD) is exploring the potential application of Internet of Things (IoT) technologies to provide cost-effective intelligent machine monitoring systems for improved worker safety [4, 5]. SMRD partnered with Central Pre-mix CRH Company (Central Pre-mix) to develop and install a proof-of-concept wireless IoT solution to monitor machinery and conveyors during operation and maintenance. The primary goals of the system were to provide real-time monitoring of access points and facilitate the planning and execution of LOTO procedures

Jan 1, 2019

By R. Pazhianur

Cathodic Protection using impressed current was employed to reduce the wear of the mill wall during ball mill grinding. Wear rates were determined from weight-loss measurements made on four, I-inch diameter, mild steel coupons installed flush with the interior surface of the mill wall. Grinding tests were conducted on quartz, pyrite and quartz-pyrite mixtures at pH values of 4.6, 7.1 and 9.2. Cathodic protection was shown to reduce mill wear by 40-60010. An examination of the coupon surfaces using scanning electron microscopy showed that cathodic protection greatly reduced pitting corrosion. The presence of a sulfide mineral, such as pyrite, was found to increase the wear rate significantly, possibly due to galvanic interactions. It is also found that the wear rate is significantly higher than the sum of abrasive wear and the corrosive wear, due to a synergistic effect.

Jan 1, 1996

By Pasi Latva-Pukkila

Underground rock drilling has gone through intense development during the last 25 years. Mechanization and hydraulics have greatly increased the efficiency of drilling and improved the environment of the drill operator. As the total economy has become more and more important, the development has resulted in greater overall economy in drilling. The latest evolution step is computerization of drilling equipment. Computerization has been applied to tunnelling jumbos, long- hole drilling rigs and bolting rigs. With today's technology computerization is the natural way to increase capacity and productivity of the drilling process. However, it is still impractical to implement total "robotic" drilling. In computerized drilling the operator's role continues to be vital in controlling the drilling process and in analyzing the effect of individual parameters on the whole excavation process. Today this is called "CAD" - Computer Aided Drilling.

Jan 1, 1989

By Emily Wortman-Wunder

As the 2009 president of the Society for Mining, Metallurgy, and Exploration, Inc., I am pleased to present the 2009 issue of Transactions of the Society for Mining, Metallurgy, and Exploration, Vol. 326. A significant portion of the contribution that we as a society make is the publication of professional and technical papers that contribute to the advancement of scientific knowledge and information transfer. Communication within the mining community is the key to a successful society. Through the information-transfer mechanisms of books, magazines, meetings and electronic media, the technology exchange that is fundamental to the existence of the Society is accomplished. This technology exchange continues a tradition that dates back to the 1871 meeting of 22 mining engineers in Wilkes-Barre, Pennsylvania, that resulted in the founding of AIME; those individuals envisioned that these transaction volumes “would form a most valuable and greatly needed addition to our professional literature.” This volume certainly satisfies that intent. In keeping with SME’s tradition of promoting technological developments while honoring the past, the 2009 Transactions represents an important milestone. It is the last Transactions to appear as a bound volume. Future volumes will appear as e-books only, with some of the Transactions-only papers appearing online prior to the ebook (exactly what form the new Transactions will take is still in development). The decision to go to an all-digital format for this longstanding publication was a difficult one, but one which we hope will better serve the mining community, especially our international members. This 2009 Transactions of SME, Vol. 326, contains a total of 73 technical papers (510 pages), including all 23 papers (136 pages) that were published in 2009 in the Technical Papers Section of Mining Engineering magazine (Vol. 61) and all 32 papers (232 pages) that were published in 2009 in Minerals & Metallurgical Processing (Vol. 26). In addition, this volume contains 18 papers (142 pages) that are being published for the first time in this issue. The papers presented in this volume were written by some of the most distinguished professionals in the industry worldwide. All 73 technical papers were peer-reviewed and approved. The process of review and publication requires much hard work by authors, reviewers and publications staff. As the 2009 president of SME and on behalf of our members, I would like to extend our gratitude to all whose efforts contributed to the publication of this volume.

Jan 1, 2009