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By Jorgen Elbrond, Xiaoli Tang

In this paper we apply continuous-time option pricing theory (Dixit 8 Pindyck 1994) to show how to obtain an optimal investment rule for a mining project which requires sequential in- vestments. The application per se is to some extent very simple. The main purpose of the paper, however, is to draw the attention of mining people to how the option pricing theory may be used to capital investment decisions. This topic in economics is quite new but is attracting a lot of attention.

Jan 1, 1996

By Robert B. Crookston

Oil from shale has been produced in foreign countries for more than a hundred years; however, except for short-lived, small operations, no commercial quantity of oil shale has yet been produced in the United States. Efforts to develop a viable oil shale process have been underway domestically for many years. At the present time, with the need for energy so urgently upon us, almost a dozen development ventures are underway or planned in Colorado and Utah. Of these several ventures, only Colony Development Operation has completed the development, testing and design of a ready-to-go 50,000 barrel per day com¬mercial project. Colony is a joint venture of the Atlantic Richfield Company, Ashland Oil Company, Shell Oil Company and The Oil Shale Corporation, more commonly known as TOSCO. TOSCO is the exclusive licensor of the TOSCO II retorting process and other oil shale technology, which includes mining, crushing and spent shale disposal techniques. This paper will deal, however, with only the materials handling aspects of the commercial oil shale operation. Oil shale handling for this infant industry is unique in that an understanding of the physical characteristics of the ore and the demands on material handling to the plant must he understood. Colony Development has completed ten years in the research and development of techniques and processes for mining, crushing and retorting raw oil shale and the disposal of spent or processed shale. A great deal has been learned about oil shale, in many cases confirming our intuitive analyses and the work of others, but more specifically we have brought it all together to a point where equipment performance and the specifications have been established and a design for the first commercial plant is now mature.

Jan 1, 1975

By R. L. Michalowski

The operation of mobile mining equipment near the crest of stockpiles and wastedumps is a potentially hazardous practice which often results in localized slope failures. A limit plasticity approach to determine the total admissible weight for moving loads near slope crests is presented. A three-dimensional analysis provides an upper bound solution to the load that can be applied to the top of the slope (dump point), and it also provides the critical distances of the load from the slope crests. The analysis accounts for the inertial forces generated by the deceleration of a moving load (e.g., a dump truck), and it also includes the drag resistance of the front wheels if the brakes are engaged. The results can be utilized to determine the safe operating distances for mobile equipment from the slope edge. This presentation will discuss the application of limit plasticity to the development of the local three-dimensional collapse mechanism. An example with realistic parameters also will be presented.

Jan 1, 1991

By W. W. Roberts

Key elements to the successful excavation and support of the Forest Glen Station and Tunnels for the Washington Area Metropolitan Transit Authority are discussed. Excavations encompassed a twin-vault station; 2339.3 m (7675 feet) of conventional drill and shoot tunnel; and 810.8 m (2660 feet) of mixed faced tunnel. The use of dewatering, boom type continuous miner and shotcrete in the mixed faced tunnel, along with hydraulic drills, bolts, and shotcrete in the rock tunnels and station proved to be effective methods.

Jan 1, 1983

By N. D. Jagger

In order to maximize the benefits obtained from flocculating agents when used as settling aids in high rate and conventional thickeners, it is often necessary to dilute the thickener feed prior to flocculant addition. In some cases, no flocculation at all is possible unless dilution water is used. The most common method of diluting thickener feed has been to recirculate some of the thickener overflow by means of a centrifugal pumping system. This represents a significant capital and operating cost. Supaflo Technologies of Australia has developed and patented an internal recirculation method known as Auto Dilution (or "Autodil") which is based on the principle that an hydraulic head differential exists between the inside and outside of the feedwell because of the higher S. G. of the pulp inside the feedwell, By installing non-return ports in the feedwell wall at the appropriate level, supernatant solution flows into the feedwell at a calculated rate and dilutes the feed without any need for external recirculation of overflow.

Jan 1, 1993

By Ronald B. Stone

This paper describes a proposed solution to the problem of mining a 315 foot diameter unsupported sphere at a depth of 2700 feet in a salt dome by conventional mining methods. The proposed solution utilizes many of the varied technologies available to the mining engineer for solving mining and underground construction problems. The following are reviewed in the paper: A. The location of the sphere within the dome as required by construction criteria. B. The relation of the location of the access shafts to the sphere. C. The rock mechanics theory in relation to the salt dome and large size of the excavation. D. The proposed "honeycomb" method of mining which will be a partial answer to rock mechanics stability requirements. E. The equipment which it is recommended be utilized to accomplish the construction. F. The rock mechanics measuring instruments proposed. G. The methods of disposal of the mined salt. Conclusions and areas of further study are outlined in the final statement.

Jan 1, 1968

By H. Colin

The basic industry, such as mining, ferrous and non-ferrous, cement and aggregates, stores and handles millions of tons of raw materials, re- quiring often different types of storage, blending and reclaiming systems.

Jan 1, 1980

By B. R. Reddy, Y. V. Swamy, B. V. R. Murthy

Chromitiferous overburden containing nickel in oxide form is reduced with CO-CO2-N2 gas mixtures. This converts the nickel oxide to metallic nickel and restricts the iron oxide to the magnetite state to extract the nickel. Reduction experiments were carried out on 500-g samples in a bench-scale vertical reactor. The tests were run to establish the process parameters, including the optimum partial pressure of CO, the reducing gas flow rate, granule size and roasting time. The reduced calcine is then subjected to an ammonia-ammoniacal carbonate leach to extract nickel selectively as its amine complex. More than 90% of the nickel could be extracted with a volumetric CO/(CO+CO2) ratio of 0.57 at 750°C and a roasting time of 90 min. The addition of 2.5% (by weight) charcoal to the granules improved nickel extraction by 11 % to 19%. Nickel leaching efficiency with ammoniacal solution is compared to the bromine-methanol method.

Jan 1, 2000

By Vytas Svalbonas

Sophisticated computer analysis methods such as finite elements, finite differences, and numerical integration have become tools in the mineral processing industry for design of large mill shells. While use of such methods allows the analyst-designer to take new freedoms with his designed structure, there are also pitfalls and dangers which must be recognized for the proper use of such sophisticated tools. One of the worst of these is treating any computer answers as "gospel truth". The present paper discusses the knowledge required by the analyst-designer for proper use of computer analysis, as well as explaining to the layman how to identify questionable areas in such structural analyses.

Jan 1, 1979

By Ronald R. Bauer

Wollastonite is a little known industrial mineral of the silicate group. The largest and purest known deposit in the free world is being mined and beneficiated in Millsboro, New York by NYCO, A Division of Processed Minerals Incorporated. The associated garnet and diopside are separated from the wollastonite using dry high intensity magnetic separators. Beneficiated wollastonite is used extensively as an additive and filler in the ceramic, paint, refractory, and wallboard industries. Wollastonite acts as a functional filler due to its unique chemistry and physical acicularity.

Jan 1, 1982

By S. Lin

Fan stall is a notorious phenomenon with axial-flow fans. When multiple fans of this type serve a ventilation system, their mutual impacts are very complicated and not well understood. Results from laboratory experiments indicated that the immediate consequence of a fan working across its stall zone (i.e., the pronounced trough on the fan characteristic curve) is that some branches in the system may suffer abrupt and even drastic changes in air quantity and pressure. The quantity range of the fan that causes the abrupt change is called an unstable operating range. The corresponding quantity range of a branch is called a non-achievable quantity range of the branch because any quantity within this range cannot be achieved without changing some parameters of the ventilation system (e.g., branch resistances). These concepts are introduced based on the test results from tubing networks to bring attention to these important characteristics of ventilation systems.

Jan 1, 1996

By W. J. Deutsch, W. J. Martin, R. J. Serne

At the termination of mining, the quality of ground water in the ore-zone aquifer must be returned to a condition predetermined by the permitting agency. To immobilize the redox-sensitive elements (e.g., uranium, arsenic, selenium, molybdenum), it has been suggested that a reducing agent be circulated through the leached ore zone. We have conducted laboratory experiments to test the ability of sodium sulfide as such a reducing agent. Sodium sulfide lowered the redox potential of the effluent such that insoluble minerals containing the redox-sensitive elements should be stable. The uranium concentration of the solution decreased by more than three orders of magnitude. In column experiments, by the time 10 pore volumes of the sulfide solution had flowed through, sulfide minerals were forming. The experimental results indicate that the addition of sodium sulfide should cause chemical reduction of the leached sediments, thereby producing long-term stability of the ground-water/sediment system.

Jan 1, 1988

By C. M. Chang, H Gu, J. A. Barrera-Godínez, T. J. O’Keefe

The inability to economically separate Fe3+(aq) from a variety of liquid effluents is a major Concern for the primary metals industry. A unique solvent extraction process, galvanic stripping, has been developed to address this problem. The galvanic stripping of iron from D2EHPA using only a 5~10 g/L H2SO4 solution is achieved after Fe3+ is directly reduced to Fee, in the organic phase using zinc metal additions. To date, the primary focus of the laboratory research has been on optimizing the parameters that control iron removal. The results from these studies have now been, used to make a preliminary design for a continuous flow process that is envisioned for zinc industrial applications. Specific quantitative data are shown for the use of a Zn-Ph cellos° in the iron-reams al process. Some introductory results on electrochemical potential measurements and impurity distribution with solution cycling are also giiven.

Jan 1, 2000

By Klados. T.

MSC.Software assessed the performance of the drive end and non-drive end bearings on a ball mill using the finite element method. The assessment included the effect of mill and pedestal deformation on the performance of the bearings. Oil film thickness, oil pressure distribution and power requirement were of interest. A solution approach coupling a structural solver to a Reynolds equation solver was specifically developed for the project. Results showed that the deformation of the bearing surfaces had a significant influence on the performance of the bearings. For example, for the non-drive end bearing, the minimum oil film thickness computed for the deformable bearing surfaces was significantly lower than calculated for the non-deformable case. The results also showed that cavitation was likely in both the drive end and non-drive end bearings (severe negative pressures were obtained in both bearings). Other design variations were also assessed, e.g. a case with a modified radial clearance which improved the results.

Jan 1, 2006

By Jed Greenwood, Lyall Workman, Michael Haggerty, Russell Sheets

Draglines often work from a position on the active highwall or spoil side bench to remove undisturbed waste material and spoil in the previously mined pit. To protect the dragline crew members and the machine, it is necessary that the highwall remain stable while the dragline is present on the bench. In the past several years, we have been involved in determining the causes for highwall failures that included the dragline. While there have been no injuries and limited dragline damage with these incidents, the potential certainly exists for a more serious outcome. In all cases, the operation had completed a geotechnical study to support the ground control plan and pit designs. However, all these incidents included aspects that would not likely have been identified in studies to determine highwall and spoil designs to support ground control procedures. In general, these events included aspects that were localized and would have been difficult to identify in initial slope stability studies either observationally or during the soil testing and modelling efforts. Although the authors do not have quantitative evidence of this, it does seem there has been an increased number of events in recent years. This may be due to loss of institutional knowledge, mining in more challenging areas, or simply an increase in localized variation. This paper will describe some of the issues we have seen and what the causes of failure were. It becomes clear that avoiding similar incidents in the future requires on-going observation and inspection of active highwalls and spoil benches to try and identify local variability and impact on mining. The information can proactively be used to update stability modeling of any concerning issues to determine likelihood of problems and to develop solutions.

Feb 1, 2025

By J. H. McNamara

A process has been developed for the successful hydrometallurgical extraction of copper from sulfide ores. The extracted copper in the form of a salt is converted by reduction to copper metal. Purification of the metal is described which includes a description of the casting of ETP quality copper wire bars.

Jan 1, 1978

By J. Peterson, P. G. McKneight, R. W. Riggle

"In today’s tough mining environment, the key difference between surviving and thriving is how effectively miners optimize their mining operations. This paper explores the compounding effects material fragmentation has on mining costs and productivity. Starting with Drilling & Blasting and moving through Loading, Hauling and Crushing, we will illustrate the opportunities to improve operating costs and thus reduce the Total Cost of Ownership (TCO) of the total mining system. Material size and volume requirements are defined by the needs of the mill or plant, and drive the rest of the mining operation from the bench through the primary crusher. At the start of the cycle, where the rock mass is drilled and blasted, the degree of fragmentation and the muck pile configuration is determined, as are the effects on cost and productivity of all subsequent operations. The cost of managing oversize material, including secondary handling, overloading, reduced diggability, higher load factors, extra pass loading, increased wear factors and reduced throughput rates are all opportunities for improvement. INTRODUCTION Having visited many mine sites, customers are asking about the end to end mining value stream from loading to the crusher and how to measure the cumulative effects on each part of the mining value chain. All too often improvements with the drilling and blasting may impact fragmentation but do not improve the diggability so the net change on cycle times or fill ratios is perceived to be negative at the point of loading but they may have a measured improvement going through the primary crusher. This makes it imperative to measure performance at each segment of the overall cycle and not just to the crusher but thru it. The mine material process originates with solid rock, in-situ, and progresses to the output of the primary crusher. Once the material has passed the primary crusher the fragmentation size will be fairly consistent and promote consistent throughput of the plant or mill. In late 2015 a team was conducting a reassessment visit to a mining site where we had conducted the original assessment the previous year. Though many recommendations had been implemented some had been so recent they had not resulted in the expected improvements. Several of our discussions kept returning to the impact fragmentation has to both the individual components of the mining cycle but also the effects compounded throughout the end to end process. Let’s move on to the big picture before we zoom in on any specific operation. To get from native solid rock in the ground to a concentrate or a saleable rock product we have the same steps from one end of the chain to the other. We start with a good geological understanding of the rock type, characteristics and structure to design a program to drill and blast the rock. The height of the bench is relevant to the annual production requirements and the specific digging equipment models best sized to make that production possible. The equipment selection influences the bench height which has a minimum and maximum hole diameter to maintain a safe blasting operation. The diameter of hole burden and spacing all contribute to a good distribution of explosives in the rock mass that maximize the fragmentation and preconditioning of the rock when blasted. The timing and sequencing of hole initiation will yield a fragmentation ratio and diggability factor. Fragmentation size adjustments will change the meters drilled per cube and the explosives consumption will change accordingly. Drill cost is measured by meter drilled so a direct relationship exists between cost and fragmentation sized achieved."

Jan 1, 2017

By Simon D. Strauss

The recession that began in late 1980 has proved to be not only prolonged and severe, but in certain ways unique in its effect on the mineral industries among the periods of economic slowdown experienced in the Western world since the end of World War II. This time almost all minerals have been affected. In previous business turndowns, by contrast, some mineral sectors have with-stood economic adversity well. They experienced little or no adverse effect-thanks either to a strong secular expansion in the markets for their particular product or to specific factors that caused demand to be well maintained. For example, aluminum, molybdenum, and nickel are three metals that enjoyed extraordinary growth in applications during the years 1946-1973. These metals were little affected during the recessions that occurred in that era. Similarly, coal did not suffer a pronounced drop in sales in the 1974-75 turndown because, with the price of oil rising sharply, a switch away from oil and back to coal was clearly indicated for some energy-intensive applications. Oil itself was largely impervious to the ups and downs of the business cycle until very recently. And the precious metals, gold and silver, have often been regarded as benefiting from reduced economic activity because labor becomes more available, productivity rises, and operating costs diminish. In the current recession, however, no major mineral has escaped the broad trend. The secular growth factors that were previously so evident for aluminum, molybdenum, and nickel have disappeared, at least temporarily. The stable pricing behavior that previously characterized all three of these commodities has been replaced by extreme price weakness and apparent inability of the major producers to continue their roles as market leaders. Coal and oil both have suffered from a sharp drop in energy requirements. There are those who now anticipate a collapse of the market control over oil prices so clearly exercised by OPEC since 1973. If oil prices are no longer effectively controlled by the governments of the exporting countries, then coal prices are also certain to be affected. And the combination of high interest rates, tight money, and a change in public perceptions of precious metals put the skid under gold and silver quotations in 1981 and early 1982. Although inflation has been viewed as the scourge of most Western countries ever since the oil crises of 1973-74, prices-in constant dollars-of most minerals have not risen. On the contrary, with the exception of the precious metals and oil, for most minerals the prices that prevailed at the end of 1982 were close to the levels of the Great Depression of the 1930s in constant dollar terms. Table 1 compares prices for copper, lead, zinc, and aluminum at the end of 1982 with the average prices in 1934, stated in constant 1967 dollars. This emphasis on prices for mineral commodities reflects the fact that profits of mining enterprises vary directly with the level of prices. Manufacturing and retailing enterprises march to a different tune. They establish sales prices based on costs. Their profits tend to vary with volume. Commodities are for all practical purposes fungible, that is the advantages of known brands in marketing manufactured goods have little application in a commodity market. Thus the individual seller of minerals is unable to establish his sales prices. Except where a monopoly is present, he must sell at the going market. His option is to abstain from selling if he finds the price unremunerative. In past recessions, some mineral producers chose to do precisely that-either accumulating a substantial share of their output in inventory or, in prolonged downturns, abstaining from production. During the current recession, however, private-sector mining companies did not have the option of accumulating inventories to any great extent. Capital costs for new mineral projects or for expansion of existing facilities have escalated at an alarming rate since the early 1970s. Added to this has been the heavy cost of installing pollution control or safety equipment to comply with the regulations adopted in most industrialized countries (and particularly the United States) since 1968. The consequence has been that the financial position of most major mineral enterprises in mid-1980 was already strained. To finance increased inventories meant incurring additional funded debt at high interest costs, thus impairing the concern's credit rating. Management Choices Private-sector managements have had to face up to the alternative of either continuing to produce at an unchanged rate and marketing output at unremunerative prices or reducing output. The latter has meant either operating at a curtailed rate, with con-

Jan 3, 1983

By William P. Barnett

In 1988, the US Department of Energy's (DOE) Pittsburgh Energy Technology Center identified three coal cleaning options for achieving flexible environmental control strategies aimed at reducing energy-related SO2 emissions. These are selective agglomeration, advanced froth flotation and advanced cycloning. Each relies on maximum liberation of pyrite and other mineral matter through feed coal comminution to fine and ultrafine sizes. The National Energy Strategy (NES) and the Clean Air Act Amendments (CAA) of 1990 are examples of the nation's commitment to a clean environment. The need to use the nation's energy resources in an environmentally sound manner presents critical challenges and opportunities for coal preparation during the next decade, particularly regarding the control of SO2 emissions. The principal challenge is the development of cost-effective coal preparation approaches for sulfur removal beyond currently achievable levels. Opportunities are provided in the form of incentives associated with a novel system of SO, allowances and a policy environment based on the proper functioning of familiar market forces. An allowance, as defined in Section 402(3) of the Amendments, is "an authorization ... to emit ... one ton of sulfur dioxide." To achieve the objective of the Clean Air Act Amendments, SO, emissions will be eventually capped at 8.12 Mt (8.95 million st) annually by controlling the number of allowances issued nationally. By permitting allowances to be bought and sold once issued, the law encourages "overcompliance" as a source of profit for owners of excess allowances. Many details concerning the administration of allowance trading are not yet written.

Jan 1, 1992

By Siegfried Zell

INTRODUCTION Denmark is a small country with a population of about 5.5 million in the north of Europe. A substantial part of Denmark consists of islands, and the Danes have been familiar with ferry links between their islands for ages. However, their wish for fixed links has resulted in the con¬struction of bridges between most of Denmark's islands in this century. (Fig. 1) A fixed link across the Store Belt or Great Belt, Denmark's most important waterway bet¬ween the island of Fyn and main island of Sjaelland, on which the capital of Copenhagen is situated, has remained to be constructed hitherto. In 1987, the Danish government decided that the Great Belt should be crossed by a fixed link, incorporating a two-track railway line and four-lane motorway. The Storebaelt Forbindelsen AS, a joint stock company in the sole ownership of the Dan¬ish state, has been established for the purpose of planning, constructing and operating the Great Belt Link. The company will refinance the construction project by charging toll to the motorway users and fees to the state railway. Here it should be mentioned that Denmark and Sweden are about to jointly realize the fixed rail and road link across the Øresund or The Sound between Denmark and Sweden on the basis of the realization model of the Great Belt link. At present, the project is at the com¬petitive tendering or contract awarding stage. In the near future, also the third fixed link of comparable extent, that is the crossing of the Fehmarn Belt between Denmark and Germany, will go into the decisive projecting stage prob¬ably in conformity with the aforementioned pattern. Going back to the Great Belt, it should be noted that this fixed link involves three exten¬sive sections and has been under construction since December 1988.

Jan 1, 1995