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By MATT RENAUD, Mustafa Kumral

As high-quality mineral deposits are thoroughly exploited, mines of the future will have to move towards more remote and lower quality projects. With these projects comes an increased business risk to the operator. Even now, mining companies often turn to foreign countries for new deposits to produce, introducing the concept of country risk into their portfolio. Furthermore, feasibility studies often fail to accurately quantify the risks associated with various projects, and as such, this study proposes a technique of risk quantification which can both aid mining companies to evaluate the viability of investment and assist in risk disclosure to public investors for the mining industry of the future. This paper aims to quantify the effects of country risk on the valuation of potential mining projects, using a combination of modular and risk-weighting techniques to evaluate the country risk premium (CRP) required to obtain capital for operation of risky foreign mining projects. The techniques proposed in this paper are demonstrated using fictional examples and then evaluated for accuracy against a recently developed debt-funded precious metal project in a country in the Americas.

Sep 30, 2021

By S. H. Ash

Unusual mining conditions prevail in the State of Washington because the majority of the coal seams lie on extra steep dips, and the roof and floor of the seams are of such a character as to require an excessive amount of timber- ing. The seams as a rule give off a considerable amount of methane, which makes good ventilation imperative. Due to physical conditions, supervision is costly and travel about the workings is difficult. Because of the facts stated, the accident rate has been above the average, and for some time considerable thought has been given the idea of making promotion of safety in and about the mines a responsibility to be shared equally by the employees and the management. With this idea in mind the legislature of the State of Washington, turing March, 1927, passed laws providing that safety committees be selected to function at the coal mines of the State and at the same time recognizing the fact that first-aid education is an integral part of any safety movement; legislation was passed making it mandatory to have all persons in and about the ines trained in first-aid administration. The provisions of the State mining law3 are as follows: "In every mine a general safety committee shall be selected, composed of the mine superintendent or manager of mines, one man selected by the employees or any association of employees in or around said mine, and a third member selected by these two. "The general safety committee shall elect one of the members to act as chairman and one to act as secretary. The duties of the chairman shall be to preside at all meetings of the general safety committee, enforce its rules and regulations and see that its business is conducted in a prompt and business-like manner. The secretary shall keep an accurate written record of the proceedings of all meetings, conduct its correspondence and post notices of regular and special meetings and other matters pertaining to safety. The duties of the general safety committee shall be to investigate all serious and fatal accidents; make bi-monthly.

Jun 1, 1930

By Wilbert J. Huff

[This is the fifth of a series of annual reports of the explosives Division, Bureau of Mines, United States Department of the Interior.3/ It deals particularly with work done during the period July 1, 1939, to June 30, 1939. The writer and the respective unit leader to whom credit is indicated have directed the various studies outlined.]

Jan 1, 1940

By John E. Conley

Of the three chemical elements most vitally essential for plant growth the United States, before World War I, had developed ample domestic supplies of but one-phosphorus. During and shortly after the war period, the fixation of nitrogen was greatly expanded in this country, as in many others, insuring a supply adequate for agriculture as well as for munitions. However, in spite of a search for sources of the third element, potassium, which began years before the war, attained almost frantic intensity between 1914 and 1919, and continued for 10 years thereafter, it was not until 1921 that the American Trona Corporation put its Searles Lake operations into continuous production. This company in 1926 became The American Potash & Chemical Co. but has never supplied much more than 15 percent of the potash consumed in the American market. Likewise, though discovered in 1921 in drill cuttings from oil wells, it was not until 1926 that domestic deposits of potassium salts adequate to render the United States independent of foreign sources of supply were proved to occur in the Permian Basin of Texas and New Mexico.

Jan 1, 1944

By D. K. Mynear, J. S. Gardner, S. Mittle, A. A. Campoli

West Virginia, although having adequate solar insolation, has witnessed very little actual solar development to date. The reasons for this lack of development are varied, but the primary obstacles to future development appear to be the absence of state-level policies and regulations promoting growth in the solar industry. West Virginia possesses large tracts of under-utilized land throughout the state created by previous mountaintop mining operations that could theoretically be re-purposed for solar farm development. Accomplishing this task will require not only revisions to the current legislation, but also acceptance by utility companies, landowners, and mining companies. Solar developers will need confidence that they can secure revenue from the electricity and Renewable Energy Certificates (RECs) generated by solar projects. Additionally, solar companies will need assurance they will be protected from any non-related environmental liabilities that could arise in the future. The primary avenue in bringing significant solar development to West Virginia will come through large corporate clients demanding or partnering with utility companies for incorporation of solar options into their energy portfolio to help meet established sustainability goals. This scenario has been witnessed in other states where a large client demands renewable options. Solar development could also represent a means through which mine operators might alleviate some of their reclamation and bonding obligations; where the landowner could supplement income from their underutilized land holdings; and where displaced miners could be repurposed in solar installation/maintenance jobs. Utilizing data from the West Virginia Permit Database, this report identifies several mine sites that hold potential for solar development in the future. INTRODUCTION The diversification of energy sources in the United States (US) has seen major shifts during the past decade resulting from: • A sudden abundance of low-cost natural gas becoming available through advanced horizontal drilling and hydraulic fracturing techniques. • Incentive-driven policies leading to new development in alternative energy. • The emergence of renewable energy sources, proliferated by state and federal level incentives and falling capital costs. Coal was once the primary low-cost fuel source for the generation of electricity in the US for most of the last century, providing approximately 50 percent of the total production capacity. However, within the past decade lower-cost natural gas has overtaken coal as the primary source of fuel used in electricity generation, and renewable sources have steadily grown to account for approximately 10 percent of the overall mix.

Jan 1, 2019

This paper examines some of the important aspects of mineral taxation policies and practices, with reference to the mining tax regimes of selected Pacific Rim countries (see Tables 1 and 2). The following subjects are addressed:what is æmineral taxationÆ?, basis for mineral taxation, types of mineral taxes, objectives of the mineral taxation regime, best practices, and mineral royalties. Many countries, in some cases with the encouragement and assistance of international funding agencies, are actively assessing the international competitiveness of their mining tax regimes with a view to attracting investment. However, these countries recognise that the mining tax regime is not the only consideration that is taken into account by prospective investors. The countryÆs geological prospectivity, physical infrastructure, labour force, political risk, and regulatory system are also important factors in the investment decision making process. Although it is probably true that an attractive mining tax regime will not necessarily attract mineral investment, there is a real possibility that an unattractive regime can drive away investment. For example, Hugo Dummett, general manager for discovery at BHP, hinted recently that BHP could cease exploration in Russia in the absence of positive tax changes. Dummett is reported as saying that if taxes æend up being as onerous as they are now, we really have to rethink why we are hereÆ (Mining Journal, London, November 27, 1998).

Jan 1, 1999

By H. Memarian

In the last few decades, many developing countries have tried to expand and improve upon higher education, which is acknowledged to be the leading factor for development. In this respect, develiping countries have significantly increased the number of tertiary institutions and their students. These rapid expansions, along with all the benefits, have drawbacks as well. An example is the status of mining engineering education in Iran. Presently, the number of active mining engineering departments in Iran (27) is more than the sum of similar departments in Canada, Australia, the United Kingdom, and South Africa (23 altogether). Also, the number of annual mining graduates in Iran (645) is more than the cumulative graduates of the United States, Canada, the United Kingdom, and Australia (613). The expansion of mining engineering education in Iran has coincided with the closing or merging of similar mining departments, as well as a decline in the number of interested students in the industrialized world. The present study shows that the need for development and the excessive number of high school graduates, resulting from high population growth in the early 1980s, are the two primary factors influencing the significant expansion of mining engineering education in Iran.

Jan 1, 2007

By Walter G. Perkins

T SEEMS almost sheer presumption to attempt' to discuss Russia in its present chaotic political and economic condition, and were it not that at least two certain absolute factors are continuously at work, it would be impossible to' even approach the subject with any degree of intelligence. These are the inborn love of peace of the people and the national character of the cooperative movement. The love of peace inborn in the soul of every Russian, the desire to be left alone and to- live his life among his home village surroundings, is probably one of the two greatest factors that will make the continuance of the present conditions of civil war impossible. One army or the other may sweep up and down the country. but the Russian peasant will: remain in his own village if not literally darken out. This love of peace is evidenced by the fact that there is no country where personal safety is greater than in Russia in normal times. I have traveled in many isolated parts, carrying considerable sums of money and persolial equipment that; in itself, would be a fortune to any peasant, and have never even encountered a condition in which the most wildly imaginative person looking for adventure, 01: trouble, could muster up even a suspicion of fear. This statement applies also to Southern Siberia and Northern Turkestan, which are inhabitated by the nomadic tribes of Khirghese origin.

Jan 1, 1920

The Anaconda Copper Company reportedly reached an exclusive agreement with Cook Inlet Region, Inc., to explore 24 million acres in south-central Alaska and to share equally with Cook the proceeds of any mineral discovery. According to an Anaconda geologist, "the company is anticipating, based on geologic testing, that it will find significant deposits of copper, lead, and zinc. There is also evidence of the presence of precious metals such as silver and gold, and also strong evidence of strategic minerals such as chrome, platinum, tin, and nickel." Cook Inlet Region, Inc., is owned by 6,500 Alaskan natives. Chile, which has a growing, free-market economy under President Pinochet, reportedly will no longer require companies to obtain prior governmental approval for the exploration and development of new mines.

Jan 1, 1981

By Catherine C. Kilgore

The Bureau of Mines investigated the availability of lead and zinc from 104 domestic mines and deposits. Fourteen primary lead and fifty-three primary zinc operations with in situ demonstrated resources containing 27.3 million metric tons (t) of lead and 53 million t of zinc were subsequently evaluated. Potentially 17.5 million t of lead and 2.4 million t of byproduct zinc could be recovered from 14 primary lead operations. Economic evaluations performed in constant January 1982 dollars determined a long-run total cost per pound of recoverable commodity. Including a 15-pct discounted-cash-flow rate of return (DCFROR), 59 pct of primary lead was potentially available at or below $0.32 per pound of lead. Potentially 40 million t of zinc and 5.6 million t of byproduct lead could be recovered from 53 primary zinc operations. Ninety percent of the recoverable zinc is potentially available from currently nonproducing mines and deposits, and a weighted average of their long-run total costs was determined at $0.98 per pound of zinc. At a breakeven (0-pct) DCFROR, these non producing operations had a weighted average long-run total cost of $0.58 per pound of zinc. Sensitivity analyses illustrated that operations that recover byproducts were most sensitive to fluctuating metal prices, producing operations were more sensitive to increased smelter treatment charges, and nonproducing operations were impacted most by the DCFROR.

Jan 1, 1983

By S. Gößling-Reisemann

Most copper ores contain valuable co-products such as molybdenum, gold, silver, nickel, etc. Sulphuric acid and steam are valuable by-products, which are generated dur¬ing copper production. The environmental impacts from mining and refining therefore need to be shared between these by-products and co-products, an issue in Life Cycle As¬sessment (LCA) referred to as allocation. There are different, recognised methodologies for doing so: burdens can be allocated based on the market values of these commodities, they can be allocated by mass, volume, molar amount, functionality, or other physical, technical or economic factors. All of these methodologies have their respective merits and restrictions, and the choice is usually case specific. Nevertheless, the choice between alternative methodologies can have dramatic effects on the LCA results. Recycling in LCA has to be handled in a similar way, as it essentially constitutes a special case of co¬production. The existing standards (ISO 14040 ff.) allow different methods for imple¬menting recycling and allocation into metal LCAs (open loop, closed loop, value cor-rected substitution, etc.), which are still a subject of discussion in the scientific community. However, the methodology used can significantly influence the ecological profile of copper and copper products. We will present an overview of the different methodologies available for including recycling and allocation and give an analysis of how the meth¬odological choice affects the final LCA results. This work will be followed up by quantitative case studies.

Jan 1, 2007

The Leuna Factory of the I. G. Farbenindustrie A. G., situated near Merseburg, is the biggest heavy-chemical plant in Germany and produces a very wide range of products, mainly based on hydrogen or hydrogen and carbon monoxide. Its principal products are ammonia, synthetic petrol derived from the hydrogenation of brown coal, and synthetic alcohols made from hydrogen and carbon monoxide. The plant was first, visited on April 21, 1945, by a team including E. Cotton, V. Haensel, E. B. Peck, P. K. Kuhne, H. M. Weir, L. L. Hirst, W. W. Odell, G. U. Hopton, H. Hollings, J. F. Ellis, and H. G. Simpson. It was again visited on May 8-24, 1945, by a combined British and American team consisting of R, Holroyd, M. A. G, Banks, D. A. Howes, A. J. V. Underwood, R. A. Taylor, W. F. Faragher, H. Schindler, and J. G. Allen. This team was later joined by J. F. Ellis and R. J. Morley. A third visit with particular reference to catalyst manufacture was made by W. F. Faragher and W. A. Horne, and the notes of these latest investigators have been taken into account in preparing the report. This report was edited by Dr. R. Holroyd.

Jan 1, 1946

By M Russ, J Gediga

This paper shows an economic feasible approach to implement greenhouse gas (GHG) reduction measures into the mining and metallurgy industry (MMI). The goal to improve energy consumption is directly linked to the reduction of GHG emissions in the MMI. A baseline scenario of the considered reference system and of the respective reference year has to be designed and analysed. In a second step an analysis of the same operation using the best available technology (BAT) processes is carried out to generate a basis for a benchmark system. The identified gaps will be reported and the potential GHG emission reductions will be put into relation to the investment, running cost and generated carbon credits of the new process technologies to be implemented. This economic feasibility calculation is necessary to realise a cost efficient GHG reduction roadmap decision-making for implementing new technology into the companyÆs business operations. The GHG reduction roadmap is developed using the marginal abatement curve approach.

Jan 1, 2009

By U. Thorley

This paper presents an overview of surface mining activity in the Canadian oil sands and how the mine operators interact with the province of Alberta's Mine Financial Security Program (MFSP), which took effect April 1, 2011. The MFSP approach to reclamation assurance results in the government of Alberta sharing a portion of reclamation liability through the majority of an oil sand mine's life. In order to determine the potential fiscal magnitude of this shared liability, an examination of the expected costs of oil sands reclamation activities through a study of corporate asset retirement obligation (ARO) liabilities and other corporate disclosures is presented. The province of Alberta's Environmental Protection Security Fund (EPSF), which formerly secured oil sands mine reclamation activities is discussed. Reclamation costs in the oil sands are poorly understood. The MFSP provides what it characterizes as a conservative estimate of C$75,000/ha, while corporate disclosures by Canadian Oil Sands Ltd. place expected costs at C$180,000/ha. There is significant risk associated with the apparent uncertainty surrounding reclamation costs.

Jan 1, 2012

By Charles V. Jenkins

The structure of steel, when rendered coarse by over-heating, is made fine by re-heating to a certain temperature, the determination of which has received much attention from eminent metallurgical authorities. Among these, I may particularly mention Prof. D. Tschernoff' [Chernoff], who, about thirty years ago, studied this question in connection with his investigations on the structure of steel in genera1. † Some years later, Mr. J. A. Brinell took up the inquiry, and arrived at many important conclusions, stated in his well-known rules on the treatment of steel. ‡ These two gentlemen, however, based their reasoning chiefly upon the aspect of fractures—a method which, though it affords valuable information, does not readily reveal the different steps by which a change in structure takes place. For further light on the subject, we owe much to more recent microscopic investigations, which have made us better acquainted with the internal structure of metals. Such an investigation, closely connected with the present subject, and made by Mr. John E. Stead a few years ago, was first published in 1898.6

Jan 1, 1903

"WELFARE…Welfare endeavor in connection with both the metal and the coal mines of Utah has shown gratifying progress during recent years and both the operators and their employees are deserving of much credit for the efforts put forth to better living, working, educational and receational conditions in most of the mining camps of the state.In the older metal mining camps of Utah, where the towns are incorporated and independent of the mining properties operating in the vicinity, less opportunity is pre¬sented for the companies to exercise efforts looking towards improved welfare conditions than is the case of camps located on company ground and under the full control of operators.Even in such camps, however, as illustrated in Bingham, the companies can do much to better welfare conditions. In this camp the Utah Copper Company has spent $800,000 since 1 920 in the erection of modern brick cottages, apartment houses and the Gemmell Memorial Club. The cottages and apartments have every convenience to be found in up-to-date city homes. The Gemmell Memorial Club, erected and equipped at a cost of $1 75,000, was provided by the company for the benefit of the Utah Copper Company employees living in the canyon and has been made the recreational center for the camp."

Jan 1, 1925

By AIME AIME

SCRIPTURE, statistics and imagination all were drawn upon by the speakers who acclaimed Daniel C. Jackling as recipient of the William Lawrence Saunders Gold Medal for 1930. The award was made at a special dinner at the Ritz-Carlton, in New York, on Oct. 31. Lafayette Hanchett, old friend and associate, said that if it were his task to compress the life story of Daniel Jackling into a single sentence, he could find noth¬ing so appropriate as these words from the 22nd Chapter of Proverbs, "See'st thou a man diligent in his business, he shall stand before Kings." Mr. Jackling's diligence, according to the speaker, his love for his task, have been outstanding in his career. W. S. Boyd, now ranking official in the Jackling organization, cited amazing statistics as to the quantity of copper supplied to industry by the four "porphyry". coppers that are under Mr. Jackling's immediate direc¬tion, as well as by those that, in a sense, owe their existence to the pioneer work at Utah Copper. In the aggregate- 16,000,000,000 lb. of copper having an approximate value of $2,700,000,000 have been produced from disseminated ores since 1905; and of this total 42 per cent came from Utah and the Nevada group. Newcomb Carlton, president of the Western Union Telegraph Co., long an admirer of Mr. Jackling, adroitly drew a picture of a similar occasion in some 'foreign country. He imagined Mr. Jackling being raised to the peerage and whimsically addressed him as Sir Daniel, the Right Honorable Earl of Bingham!

Jan 1, 1930

By Duah Philip, Awuah-Offei Kwame

Regulatory pressure to mitigate the cement industry’s environmental impact has intensified recently, spurring innovation in low-carbon cement technologies. In the United States, cement production, consumption, and carbon emissions are accelerating. Despite this trend, the adoption of environmentally friendly dry clinker production technology with combined preheater-precalciner systems has surged from 53.3% in 2002 to 88.5% in 2019. Concurrently, reliance on wet technologies, known for their higher environmental impact, has dropped from 16.5% to 0.6% within the same period. This paper presents the results of our comprehensive study, utilizing over 100 years of industry data, to analyze these technological shifts and their environmental implications.

Feb 1, 2025

By Dunbar D. Scott

The development in the perfection of mine-surveying instruments has been by no means rapid, as it has depended somewhat on the details of construction borrowed from astronomical and geodetic theodolites, largely on the restrictions laid down by mining companies and the prejudices of mine managers themselves, but more than all on the methods used in conducting surveys and the importance attached thereto. Mine-surveying, in some form or other, has been practiced from the very earliest times; but it has never kept pace with the other branches of surveying, or even with the art of mining itself, and cannot be recognized as an exact science until shortly before the beginning of this century. The works of Hero of Alexandria, who lived in the second century B.C., are still extant, and contain descriptions of a rectangular sighting-instrument, which he invented and called a diopter. His improvement upon this simple construction, which possibly he devised for use in the Greek mines for rough leveling-purposes and for laying out any angle, must be considered, says Hübner," as the origin of the highly perfected theodolite of to-day. Whether this instrument came into general use during the first centuries of the Christian era, is not recorded; in fact, no writer undertakes to tell how mine-surveying was conducted until 1556, in which year Agricola expounds the principles of mining and metallurgy in his De Re Metallica, devoting the entire fifth chapter to the practice of mine-surveying (see Fig. 1). In mediæval times those who possessed any knowledge of engineering skill made strenuous effort to keep their art a secret, partly on account of the miners' proverbial conservatism and partly for their own personal aggrandizement, and were, in

Jan 1, 1899

By Greg Barnes

Agenda ? The Mining Stock Life Cycle ? Current Environment ? Valuation ? Golds ? Valuation ? Base Metals ? Case Study ? Quebrada Blanca Hypogene Commodity Investment Cycle ? Macro-Economic Indicators ? LME Inventories ? watch the trend; rising inventories ? bad for prices, declining inventories good for prices ? OECD Leading Indicators ? PMIs ? Purchasing Manager Indices ? Industrial Production ? more important for metals consumption than GDP ? Housing Starts ? US, Europe ? Auto Sales ? All things China ? metal imports/exports; SHFE inventories; SRB stockpiling ? Seasonality ? it does play a role ? What is Chris Dutton (TDSI Quantitative Analyst) saying?

May 1, 2010