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By Edwin A. Rides

HISTORICAL ORIGIN OF THE EXPORT CREDIT AGENCIES Almost since the inception of international commerce sellers, having manufactured and/or sold and shipped goods to an overseas buyer, have been obliged to accept the risk that they will not be paid for one reason or another. There are many reasons why payment may not be forthcoming, for example, the goods may be lost at sea, or rejected by the buyer or the buyer nay simply not be creditworthy. These risks were brought into sharp relief as international trading became more sophisticated and the practice of giving credit to buyers gathered momentum. Inevitably enterprises sprang up which offered same mitigation of this exposure, accepting houses and later confirming houses and banks were prepared to assure acceptable credit risks an behalf of the seller, usually by discounting trade paper, and for many years the market ticked over reasonably satisfactorily. However, after the 1914-18 War international trade was at an extremely low ebb and its inherent risks were accentuated to a point where they were often commercially unacceptable. Yet a healthy and vigorous international market was indispensable to recovery of the world economy and a number of governments, led by the United Kingdom, perceived a need to offer their exporters a comprehensive form of insurance, particularly to facilitate the extension of credit to foreign buyers. In the United Kingdom the Export Credits Guarantee Department (ECGD) was set up to encourage trade through the provision of export credit insurance. Over the ensuing years others followed suit and now most of the developed trading nations and many developing nations have similar agencies. PRESENT DAY IDLE OF THE EXPORT CREDIT AGENCIES (ECAS ) Traditionally then the BA's role was to encourage trade through the provision to exporters of insurance against the risks of non-payment by overseas buyers of their goods and services. However, during the 1970's the manufacturing industries of most of the developed nations found themselves facing severe competition for business, particularly in the developing world. As a result the more aggressive ECA's began to introduce ancillary forms of cover designed to reduce exporters' risks outside of the credit field. For instance, most of the European agencies now have a form of cover against foreign exchange risks here contracts are denominated in currencies other than that of the exporter's country. Most of the agencies also provide cover to exporters against the risk of unfair calling of bid, advance payment, performance bonds etc and in certain countries, where high inflation rates were endemic, a form of cover against cost escalation. In certain circumstances it is also possible for an exporter to obtain cover against losses arising as a result of the involvency of a partner in a consortium or joint venture. These are all forms of insurance but, also during the 1970's, many of the national export credit programmes took a major step away from their original raison d'etre by facilitating the provision of preferential financing terns for the acquisition of capital equipment by an overseas buyer. This new line of business quickly became an important ingredient of major export financing packages and, as we shall see later, turned out to be extremely costly for the countries providing it.

Jan 1, 1985

By T. P. Chidakwa, T. R. Stacey

This study investigated the corrosion rates of various steel types and coatings used for friction rock stabilisers in a deep-level gold mine under diverse underground environmental conditions. Testing was conducted in situ within ramps, intake airways, and exhaust airways, and through simulated laboratory experiments. Results revealed that environmental variations significantly influence the corrosion performance of different materials and coatings. Duplex coatings, made up of galvanised steel with an organic paint layer, demonstrated the highest corrosion resistance. Zinc-based coatings provided moderate protection, while 3CR12 stainless steel and uncoated S420 carbon steel exhibited comparatively poor resistance under both aqueous and atmospheric conditions.

Mar 4, 2025

By M. Onifade, O. S. Otuogbai, A. F. Mulaba-Bafubiandi, O. D. Eniowo, H. Grobler

Artisanal and small-scale miners in Nigeria struggle to attract formal financing to upgrade their operations to a more sustainable form of small-scale mining operation. Literature shows that for an investment to attract formal sources of financing; the business must be considered creditworthy by potential lenders. This means that the credit risks associated with the investment must be bearable for the potential lender. This study looks at how artisanal and small-scale miners can attract formal funding, which will help them take the leap from artisanal state to a form of sustainable small-scale mining operation. This study evaluates the creditworthiness of artisanal and small-scale mining operators using key credit risk parameters identified in the literature and through primary investigation. A quantitative study is conducted on a sample of 100 artisanal and small-scale miner establishments in Nigeria to evaluate the effect of these identified credit risk parameters on creditworthiness. It is shown in this study that being a member of a mining cooperative society, which is a form of social collateral, best improves the chances of access to formal financing for miners within the sample group. This underpins the role of social collateral, in both the formal and informal economy, and its influence in improving the creditworthiness of a typical artisanal and small-scale miner.

Jul 23, 2025

By M. W. Smith

Pennsylvania has 2500 miles of streams that do not meet water quality standards due to acid mine discharge (AMD), making AMD the greatest cause of water pollution in the state. The problem is mainly caused by abandoned coal mines. Pennsylvania is using a watershed-based approach to abating AMD which includes remining as a key component of a comprehensive restoration strategy. The Tangascootack Creek Watershed was targeted for AMD restoration through remining. Geologic mapping and overburden data were analyzed using Earth Vision software to identify areas of coal reserves which could be remined to improve water quality. Incentives are offered to encourage mining in these designated areas.

Jan 1, 1999

By Robert Griesbach

One of the important decisions in the development of new mining concentrator projects is the electric power supply for the project. Key decision factors often include the production of power on site versus purchase of power from the grid, ownership of the power supply infrastructure and the choice of generation technology. In this sense, the paper introduce a methodology that will allow the evaluation of the various alternatives to supply electric power to remote mining and mineral processing sites in a consistent and equitable manner taking into account economic and technical considerations and providing the same degree of availability and reliability. The most employed evaluation method consists of carrying out trade-off studies between the various alternatives but care should be exercised so that the alternatives analyzed offer comparable operational results.

Sep 14, 2009

By Marline J. Veesaert

Urban quarries offer one of the greatest opportunities for profit in non-metallic mining with limited financial risk IF properly evaluated, planned and developed to meet market needs. Location, with respect to market, is the prime consideration. Geologic considerations and quality of rock are nearly as important. Cost factors and return on investment (ROI) are the principal financial considerations. Risk of capital is determined by weighing all factors that should be considered and how well judgements are based on information acquired. It is a simple, true axiom of business that an investment must be founded on amount of capital required with its expected return plus profit, expertise required to operate and time involved. Urban quarries generally offer excellent stone product market opportunities. Costs of land with mineral containment and processing operations are much greater than in rural areas. Environmental problems have become increasingly severe. Competition from other quarries in the market area is usually directly proportional to the profit attractiveness. Risk of capital (initial, developmental and operational) can be evaluated and reduced only by thorough analysis of the entire situation. Time and money expended on planning and preliminary investigations probably represent the most productive investment of available company resources.

Jan 1, 1977

By F. Dinter, C. McGregor, Q. G. Reynolds, L. Hockaday

The necessity of reducing greenhouse gas emissions to limit the impact of anthropogenic climate change means that all industrial processes should investigate their options towards decarbonization. Iron, steelmaking, aluminium, and cement production produce the most industrial emissions. Although most research focuses on decarbonizing these industries, minerals processing industries must be decarbonized to achieve net zero emissions goals by 2050. Incorporating renewable energy sources and avoiding the combustion of fossil fuels are two ways to reduce greenhouse gas emissions. This paper reports on the results from a dynamic process model developed to investigate the feasibility of concentrating solar thermal pretreatment of manganese ores to pretreat carbonate-rich manganese ores for increased ferromanganese smelter productivity and reduced greenhouse gas emissions. The results indicate that pretreated ores reduce the energy requirement for smelting significantly for some ores and lowers total carbon dioxide emissions by 13 to 19% compared to the traditional smelting route. A high-level economic evaluation shows that solar thermal treatment is financially viable for low cryptomelane, high braunite ore that is common in the Kalahari Manganese Field.

Dec 11, 2024

By Harsh Kumar Verma

Blasting off-the-solid is the most commonly used method during development of galleries in Bord and Pillar method of underground coal mining. In this method, only P5 explosives are used with permitted delay detonators in accordance with the safety requirements stipulated by the regulatory bodies. Delay detonators made with pyrotechnic delay compositions have inherent scattering in their delay timings. It is desirable to use precise detonators to achieve better fragmentation, less vibration and noise. Overlapping of delay period is undesirable from production as well as safety point of view.

Jan 1, 2008

By Arthur S. Dwight

THE last decade of the 19th century was a peculiarly interesting one in. the annals of American metallurgy, especially as concerns the lead and copper- smelting industries; and it may be interesting to review briefly one of the outstanding incidents of that period, the development of the mechanical roasting furnace. I shall not pretend, in these reminiscences, to give with absolute accuracy the sequence of events or dates, nor to present a complete history of the period, but shall seek merely to 'sketch a more or less impressionistic picture with some of the underlying facts and causes as the recollection comes back to me and then point out how the present-day practice grew out of those activities. My acquaintance with the developments in Montana was based on occasional visits and general collateral information, but in Colorado I lived through the episode and was of it.

Jan 1, 1921

By L. Simpson

South African is a repository of significant deposits of a variety of minerals. The Citigroup confirms this assertion with an estimate of in-situ valuation of US$2.5 Trillion. The mining sector plays an important role in the South African economy. In addition to the mineral resource base South Africa has other comparative advantages. Firstly, South Africa retains major mining companies that participate globally, including Anglo American, Goldfields and De Beers. Their global involvement offers much to the local mining sector and the broader economy. Secondly, government established research councils. The Council for Geoscience (CGS) was established to manage the Geological Survey of South Africa, including the reduction of geo-scientific investment risk. The Council for Scientific and Industrial Research (CSIR) promotes industrial development, including mining technology development. Mintek undertakes mineral research from mineral examination of ores, to extraction and refining technologies and manufacture of end products. Thirdly, South African universities teach and conduct research along the mineral value chain. They have increased their minerals graduates? capacity, thus advancing knowledge and skills. Knowledge and technical progress are behind productivity growth and emergence of competitive advantage. The research and development (R&D) capabilities of industry, science councils and universities, working in unison, will enhance the competitiveness of the South African mining industry. The National System of Innovation (NSI) requires multi-disciplinary, collaborative research. Key R&D elements, including skills and expertise, funding and facilities, must be available to implement a long-term national strategy or programme. Improved international collaboration and partnerships between government, academia and industry driven human resource development (HRD), ultimately develop the critical mass for inter-generational skills requirements. This trend requires an expansion of research collaboration programmes. Decisions involving investments and collaborative actions pertaining to R&D in the sector necessitate an analysis of the South African mineral value chain R&D capability. This paper analyses the evolution of R&D capability from exploration to refining, tertiary education, science councils and industry. The political economy of the evolution of this capability is analyzed in relation to the central role that the South African government plays in creating an appropriate supporting environment and related initiatives to enhance R&D and innovation. Keywords: research and development (R&D), science councils, universities, industry, innovation policy, South Africa

Sep 1, 2012

By Wilfred Walker

A working hypothesis is presented herein mineral belts are split as all world oceans opened. Rather than plate tectonics, expansion is favored as the most recent expression of the sequence of convecting systems in the Earth's mantle. Throughout the geological record this sequence has produced similar mobile belts. This similarity lends itself to both stratigraphic classification and the theme of mineralization in mobile belts demonstrated by Y. A. Bilibin. Crustal evolution should, therefore, serve as an important guide in understanding Pacific mineral belts.

Jan 1, 1982

By E. J. KENNEDY

THE annual dinner-dance was held in the large ball room of the Commodore hotel Wednesday evening. A total of 577 were seated at the dinner, over which President Eavenson presided as chairman and toastmaster. In introducing George C. Stone, the James Douglas Medalist, W. R. Ingalls outlined the former's association with the zinc industry. He said, in part In designing and building Palmerton, Stone erected a metallurgical monument and won the title of chief engineer of the New Jersey Zinc Co., with transferal to its New York office in 1900. There lie held forth in dignity, efficiency, and with appreciation until his retirement from active service in 1929. After a few years lie was diverted from the position of chief engineer for his company to the superior one of chief metallurgist and that gave to Stone his next big chance.... This was the conception of a research department and the ability to persuade his directors to adopt it. I shall not pretend to summarize the great things that afterward developed. I shall mention only the institution of the manufacture of lithopone in this country, the charging of the Wetherill furnace with briquets, the mechanicalization of the Wetherills, the accomplishment of continuous distilling, and most recently the introduction of reflux-refining.

Jan 1, 1935

By Michael D. Balen

During the years 1987 through 1989, the Bureau of Mines Alaska Field Operations Center (Bureau) in cooperation with the Western Field Operations Center and the Alaska Division of Geological and Geophysical Surveys (ADGGS), conducted mining, geological, and geochemical investigations in the 5.7 million-acre Valdez Creek Mining District (VCMD). This investigation was conducted as part of the Bureau's continuing Mineral Land Assessment (MLA) mining district studies program. The Bureau's MLA program is designed to provide reliable and comprehensive mineral resource information that supports mineral resource policy and land use decisions made by Congress and Federal land management agencies. The information also provides the basis for decisions that would expand the domestic supply of important mineral resources, primarily strategic and critical minerals. Much of the MLA work is done jointly with cooperating State or U.S. geological surveys.

Jan 1, 1992

The latest resource estimate for the Caspiche gold/silver/copper project in the Maricunga region of Chile was released by gold explorer Exeter Resource Corp. The resource is low grade, but bulk minable and drilling to date has shown a NI 43-101 compliant inferred resource of 1,117 Mt (1.23 billion st) grading 0.55 g/t (0.016 oz/st) gold, 3.81 g/t (0.111 oz/st) silver and 0.22 percent copper. Exeter said these findings make the in situ metals amounts of 609 t (19.6 million oz) of gold, 4.4 kt (137 million oz) of silver and 4.84 billion lbs of copper, which the company relates as 33.7 million gold equivalent ounces using assumed metal prices of $23.33/g ($800/oz) for gold, 35 cents/g ($12/oz) for silver and $2/lb for copper. The deposit is almost midway between Barrick?s Cerro Casale gold deposit and Kinross? Refugio Mine. In a statement Exeter chairman Yale Simpson said ?This updated resource estimate places Caspiche firmly among the world?s largest gold-copper discoveries in recent years and clearly supports our decision to aggressively drill the property, despite the global economic decline. ?We expect that the very substantial copper and silver credits will be extremely important, and will markedly impact the potential viability of Caspiche. Specifically, using metal prices of US$2/lb copper, $23.33/g ($800/oz) gold and 35 cents/g ($12/oz) silver, the 4.84 billion lbs of copper and 4.2 kt (137 million oz) of silver are equivalent to 376 kt and 62 t (12.1 and 2 million oz) of gold, respectively. ?Our recent drilling has defined what appears to be a coherent higher grade central zone associated with a definable early stage diorite intrusion. We expect this zone will be important in developing various mining and economic models for the project,? Simpson said. Exeter is still drilling the deposit to expand the re-source estimate further to the southeast and at depth and to upgrade the higher grade central zone to the indicated category. Simpson said, ?Exeter intends to enhance the value of Caspiche by continuing to de-risk the project through ongoing exploration, metallurgy, engineering, water and environmental studies. These studies will continue through the next 12 months and will lead to a conceptual development study. A timeline for the release of that study is being formulated. The project budget for the next 12 months is C$14 million.? Mineweb reported that Caspiche is likely too big of a deposit and at too high of altitude for Exeter to handle alone. Exeter will be looking to other majors, or perhaps the Chinese, to help develop this huge orebody. But, in the meantime, it also has its high grade Cerro Moro deposit in Argentina, which could be brought to production relatively quickly and at relatively low cost.

Jan 1, 2009

By Crawford M

During the initial development of Mount Isa Mines power was supplied from a temporary power plant situated near the Man & Supply Shaft. The main power plant was placed in service early in 1931 and then comprised two Babcock and Willcox boilers, fired by pulverised fuel, and two British General Electric Company's turbo-alternators of 5,000 kW. each. Both plants have been described by A. F. McAskill in the Journal of the Institution of Engineers, Australia.From 1931 power demand progressively increased due to greater production, further mine development in the harder sulphides increased pumping for mine drainage and additions to mill and smelter until, by 1935, the plant was inadequate for further output commensurate with a reasonable safety margin.Coincident with the added power demand, operating conditions involved a fuel problem which could not have been anticipated. The ash content of the fuel supplied gradually increased from 13% to 16-5%, while the melting point of the ash decreased with higher pyrite content.Temperature conditions in the furnace required careful control to cope with ash formation and slag accretions.Consequently brickwork, excessively stressed on water walls, was constantly under repair, and required suspension periods of 50% of operating time for cleaning and overhaul.Load conditions varied continually, therefore the high heat liberations in the furnace, necessary to accommodate peaks in fluctuating output, resulted in ash fusion.

Jan 1, 1939

By D. V. Hughes, J. R. Nyberg

"Since 1985, a comprehensive automation system has been installed at the Outokumpu Oy Zinc Plant, Kokkola, Finland. In leaching and solution purification special sample handling equipment, on-line analyzers and instruments, and a computer-based control system with duplicated supervisory stations have been installed. The system has enabled closer control of the process and more efficient use of labor. Since its installation recovery of zinc has improved, and use of zinc dust, steam, and water have decreased. The system has performed reliably. It includes optimizing programs and process study tools, which facilitate improving process performance. An expert system has been built-up to prompt process personnel to take appropriate action on the basis of process data. In electrolysis a similar system, based on extensive monitoring of the process and of production of zinc cathodes, is used to maximize- current efficiency by maintaining optimum conditions in the process. It is planned that in the future the control systems will be integrated and extended to cover the roasting plant and effluent control.IntroductionThe Zinc PlantThe Zinc Plant of Outokumpu Oy Metallurgical Division at Kokkola, on the West Coast of Finland, has grown from a 90,000 t/a plant founded in 1969 to become, with its present capacity of 170,000 t/a, one of the world's ten largest zinc plants. Especially since the completion in 1988 of a thorough modernization programme, it is also among the world's most modern.The Kokkola plant takes its raw materials from Outokumpu's own mines, Vihanti and Pyhasalmi in Finland, and Tara in Ireland, and from outside sources. Concentrates are roasted in two Lurgi fluid-bed furnaces, and the calcine is leached and iron removed by the Conversion process. Following this copper, cobalt, and cadmium are removed, and zinc is refined by electrowinning. The leaching and purification, and the cell-house are automated under computer-based control, and anode and cathode handling in the cell-house are mechanized and fully automatic."

Jan 1, 1989

By Harold Vance

EMPLOYERS of engineers have not always been satisfied with the training that young graduates have received in the conventional four-year course. Specifically, employers of petroleum engineers for a number of years have believed that a four-year course does not allow sufficient time for the student to secure a fundamental engineering background plus the fundamentals of petroleum engineering. A group of California employers went so far as to set up a type of curriculum for a petroleum-engineering course, which was based on four years of undergraduate work and one year of graduate work, with most of the petroleum-engineering courses included in the graduate year.

Jan 1, 1944

By D. R. Derry

"IT WOULD TAKE a braver man than I to try to forecast the future of mining exploration far into Canada's second century. Even to look ahead ten or twenty-five years we must review the figures of the fairly recent past -and I have found this quite a time-consuming but interesting job -in order to find trends and project them into future years. The trends to which I will refer are: firstly, the annual expenditure on exploration and its relation to value of output; secondly, the discovery rate and its relation to production initiations; and thirdly, the methods by which discoveries have been, and will be, made. Exploration Expenditures Figures on the annual expenditure on mining exploration in Canada have been collected and published for some years by the Do-minion Bureau of Statistics. These have some unavoidable limitations; e.g., in the varying definition between one company and another of what comprises ""Exploration"" and in the difficulty of getting complete returns. However, although the actual figure for a given year may be subject to question, I believe that the relative figures from one year to another are reasonably reliable. There is also a lapse of time between the collection of data and publication -the last published figures are for the year 1963. In bringing the figures up to date to 1966 I have canvassed eight of the larger mining and exploration companies and obtained their figures for 1963 to 1966 inclusive, and then averaged these for each year and applied the progression to the 1963 figures."

Jan 1, 1968

By Gordon G. Duncan

Historical Sketch Occurrences of native copper have been known along the Arctic coast of Canada, especially in the vicinity of the. Coppermine river, since the early part of the eighteenth century (See map, Figure 2, insert). In 1769, Samuel Hearne, a clerk of the Hudson's Bay Company at Fort Churchill, was sent to explore the 'copper mines' from which natives had been reported to secure copper for tools, fishing spears, etc. After two successful attempts, he reached the Coppermine river in 1771, accompanied by Indian guides. This hazardous trip was indeed a remarkable feat when one considers the vast distance covered, a great deal of which was barren lands. At Bloody falls, (See Figure 1) on the Coppermine river, Hearne's Indians swooped down on a party of sleeping Esquimaux, who gathered there each summer to fish, and murdered the entire band encamped on that side of the river. Hence the name of the falls. Hearne's knowledge of minerals was undoubtedly limited. He reported having seen the copper mines from which the natives were securing the copper, but he failed to prove the economic possibilities of the copper occurrences or to give an accurate description of any deposit. Sir John Franklin visited the area in 1821. He and other members of his expedition, namely, Richardson, Back, Kendall, and Hood, reported native-copper float to occur in the vicinity of the Coppermine river and Bathurst inlet.

Jan 1, 1931

By ANTON GRAY

In considering the possibilities and costs of discovering minerals by exploration. mineral occurrences may be classified roughly according to the size of the target they offer to the various methods that have been used to search them out. This classification is advantageous because the methods of search which might be expected to give results in one case may be totally inapplicable in others. Mineral deposits for the most part have been found in groups, or districts, in which the individual deposits occur under the same general geological conditions and usually contain more or less the same metals. There are, also, what are apparently isolated de- posits, although if the truth were fully known many of these probably would not be isolated. These districts, such as the Belgian Congo copper fields, the California Mother Lode, and the Linares lead district of Spain, form the first division of my classification. The second division is formed of the individual deposits of these districts, for example, Kambove mine in the Congo, the Kennedy-Argonaut vein in California, and the Cruz vein at Linares. The third division consists of the separate ore bodies that make up the deposits

Jan 1, 1949