Search Documents

By B. Berhe, R. D. Lawrence, J. Hinzer

"The fortunes of mining companies and their implied value are tied to cycles - both economic and commodity – within which they operate. Hence the determination of appropriate future metal prices is one of the most critical factors faced by mineral valuators especially for advanced projects. Price, and hence revenue, is usually the most sensitive input to the valuation model. Empirical studies of past forecasts show that the success rate for commodity price forecasting is very poor. This paper explores various approaches and comments on their strengths and weaknesses. We conclude that careful evaluation of long-term metal prices is a key element and is hardly a luxury that can be left to simple averages or rules of thumb. INTRODUCTION Discounted Cash Flow (""DCF"") analysis, is well suited for the valuation of advanced mineral development assets, for which there are identified mineral resources and some form of economic assessment (Pre-Feasibility or Feasibility Study). The DCF method is also the most commonly used method for determining value for such assets. It provides a means of relating the magnitude of expected future cash flows from profits (or losses) to the magnitude of the initial cash flow (investment) needed for capital expenditures to purchase or to develop an asset for commercial production. The method proves useful in making investment decisions as it allows for the quantification of the Net Present Value (“NPV”), as well as the Internal Rate of Return (IRR) and Payback Period on initial investment capital. Valuation by its very nature is a forward-looking exercise. The DCF method attempts to estimate the NPV of expected future cash flows, by selecting factors that will likely affect future cash flow based on informed analysis. One of the most critical and sensitive factors is the determination of appropriate future commodity prices. “The variables that have the greatest impact on a DCF evaluation are the reserves, the metal prices, and the discount rate.”1 The determination of future commodity prices for valuation purpose or during M&A negotiations is a hotly contested issue. There are a number of analysts, institutions and specialized commercial data suppliers that provide both short and long-term commodities price forecasts. Also, the use of an aggregated mean for all available forecasts, or consensus forecasted prices for valuation purposes is not uncommon. The methods used in making forecasts for each forecaster may vary and in many cases may not be publically disclosed. Nonetheless, the aggregated mean of all forecasted commodity prices of reputed institutions is usually taken to “represent the market’s view of likely future commodity prices.”"

Jan 1, 2016

By L. G. Hagenbuch

Several factors need to come together in creating an integrate mining equipment dispatching system. At the hub of these factors ace the central dispatching formulas. This paper details the development of these central dispatching formulas and explores the combining of these formulas with other elements to create an integrated dispatching decision. WHY DISPATCHING? Truck dispatching implies and in reality should equate to mine equipment efficiency. Good truck dispatching will yield good mine equipment efficiency while poor truck dispatching will yield the alternative. Truck dispatching can either be automated through a computerized, process or it can be manual. Every mine with haul trucks has a truck dispatching system whether it is recognized or not. Even a system wherein the hauler operators determine where they are going for their next load is a truck dispatching system.

Jan 1, 1987

By A. Iannacchione

Most legacy drift mines entered the coal reserve from outcrop and developed up-dip. The Surface Mining Control and Reclamation Act of 1977 changed this way of mining, requiring all new mines with acid- or iron-producing coal seams to be designed so as to prevent gravity water discharges from the mine. This Act requires engineered barriers to contain the mine pool. In many cases, mine layout designs focus primarily on the size and hydraulic performance of the un-mined coal barrier between the up-dip mine pool and areas where down-dip surface discharge is possible. In other cases, designs focus on preventing discharges from barriers contained within the strata surrounding the mined coalbed. This paper focuses on a detailed analysis of the factors responsible for preventing mine pool discharges to surface waters. Important factors include: mine layouts, mining methods, hydraulic head and conductivity, and geology. While the exact causes for the successes and failures could not always be determined, reasonable mechanisms are presented.

Feb 23, 2014

By R. A. Thomas, C. D. Litton

"The objective of this study was to develop a laboratory-scale method to rank the ignition and fire hazards of commonly used underground mine materials and to eliminate the need for the expensive large-scale tests that are currently being used. A radiant-panel apparatus was used to determine the materials’ relevant thermal characteristics: time to ignition, critical heat flux for ignition, heat of gasification, and mass-loss rate. Three thermal parameters, TRP, TP1 and TP4, were derived from the data, then developed and subsequently used to rank the combined ignition and fire hazards of the combustible materials from low hazard to high hazard. The results compared favorably with the thermal and ignition hazards of similar materials reported in the literature and support this approach as a simpler one for quantifying these combustible hazards. Resumen ¦ El objetivo de este estudio fue el desarrollo de un método a escala de laboratorio con el fin de clasificar los peligros de ignición y fuego de materiales comúnmente usados en minería subterránea y la eliminación las pruebas costosas y a gran escala que se realizan actualmente. Se usó un aparato de panel radiante con el fin de determinar las características térmicas relevantes de los materiales: tiempo de ignición, flujo de calor crítico para ignición, calor de gasificación y tasa de pérdida de masa. Se derivaron tres parámetros térmicos de los datos: TRP, TP1 y TP4, luego fueron desarrollados y subsecuentemente usados para clasificar los peligros combinados de ignición y fuego de materiales combustibles, de bajo riesgo a alto riesgo. Los resultados tuvieron una comparación favorable con los riesgo/peligro térmicos y de ignición de materiales similares reportados en la literatura y apoyan este enfoque como uno más simple para la cuantificación de estos riesgos combustibles"

Jan 1, 2015

By M. T. Ityokumbul

The liquid phase mixing in Western Research Centre (WRC) pilot plant flotation column with diameter of 0.76 m has been characterized using a salt tracer. The process variables studied were gas and liquid flow rates. The response of the column to a tracer pulse input was monitored at three axial and two radial locations. For all the experimental conditions investigated in the present study, radial and axial concentration gradients were not observed. It is thus concluded that the 2 tph flotation column is behaving as a well mixed tank. This finding is consistent with the observed poor recoveries of coarse fractions in the column flotation circuit. Based on the findings of this report, it is recommended that several schemes of reducing the backmixing be implemented and evaluated for their effectiveness in improving the column recoveries.

Jan 1, 1994

By Robert D. Saltsman

The inadequacy of our knowledge of the coal combustion process has long been recognized. This was expressed very well by Spicer and Finney (1). "The control of combustion processes in industry and the design of the equipment necessary for efficient burning to take place have always been very much branches of an industrial art rather than of an exact science. This has been especially true of the utilization of coal, a substance so hetrogeneous and complex in character that all too little is known about its chemical and physical composition.' During the past several years one branch of coal utilization, that of high temperature carbonization; has made significant advances from being an art into being an exact science. This has been accomplished by the development of petrographic techniques for identifying, measuring, and determining the thermal properties of the organic materials which affect the carbonization of coal and the correlation of this information with a pre-existing standard of coke quality, the stability index.

Jan 1, 1964

By John Fred Rivera

Since its inception during the hectic days of World War II, Kaiser Steel Corporation has developed and maintained a solid reputation as a progressive company with an incessant penchant for attempting innovative ideas to improve its stature in the American and world corporate framework. The very latest in technology is aptly demonstrated in the new Basic Oxygen Process recently placed into operation at Kaiser's huge Fontana Steel Mill. Daring ventures such as this and other developments on pollution control devices have propelled Kaiser Steel Corporation into the forefront as the largest steel producer in the western United States. Kaiser Steel's boldness and willingness to attempt new ideas and the very latest in technology is by no means limited to its steelmaking operation. It extends into every phase of Kaiser's corporate structure.

Jan 1, 1979

By S. M. Bulatovic

The western industrial world has to rely more and more on complex polymetallic sulphide ores as sources for base metals. These ores are composed of fine grained sulphide minerals such as chalcopyrite, galena, sphalerite, pyrite, pyrrhotite and marcasite. The liberation sizes of the individual minerals can range between 30 um and 5 um. Therefore, applying conventional techniques to recover these finely disseminated minerals usually results in unsatisfactory metallurgical performances with high losses of the valuable mineral to the slime , fraction of the tailing. New concepts for treating these polymetallic complex ores are discussed in this paper. Beneficiation techniques utilizing new reagents and a new approach to pulp preparation are described. Some of these techniques were applied to ores from existing concentrators as well as to new ores. The results of these studies are discussed in the following sections.

Jan 1, 1990

By C. J. Newman

Prior to 1995, the smelting process at the Kennecott Utah Copper Corporation (KUCC) smelter consisted of Noranda reactors and Pierce-Smith converters. In the consideration of expansion opportunities, the existing process did not lend itself to a program geared towards processing the total output of KUCC mining and milling operations. During 1989 and 1990, a number of smelting options were evaluated. The final selection was the Outokumpu flash smelting process, coupled with the new Kennecott-Outokumpu flash converting technology. Facilities were designed and installed to process 1.0 million tonnes per year of copper concentrate, with the ability to expand to 1.2 million tonnes per year. Following the shutdown of the smelter facility utilizing the Noranda technology in May 1995, the flash smelting furnace commenced operation in June with the flash converting furnace startup following a few weeks later. The smelter has achieved design production targets and environmental goals. Current operating rates are at or above design rates for concentrate and matte processing. Emissions are lower than the permit levels and equate to less than 3.5 kg of S02 per tonne of copper. This paper outlines the design, construction, startup and the first two years of operation of the modernized KUCC smelter.

Jan 1, 1998

By K. Terhaar

The objective was to determine operating protocols for a lead and silver column flotation cleaner, being considered for installation at Sunshine Mining & Refining Co.'s Kellogg mill in Northern Idaho. In this column, tetrahedrite and galena were floated, and pyrite and other gangue minerals, including siderite and silica, were depressed. The procedure was to develop a dynamic simulation using a linear transfer function approach. The transfer function related cause and effect variables such as the influence of collector and depressant dosages on recovery and grades. Bench-scale flotation tests followed by pilot column testing provided the data used to develop a linear transfer function. The transfer function was derived using a spreadsheet. This model was applied to simulate how the flotation column could be made to respond to disturbances in feed grade. The results were that xanthate, zinc sulfate, and sodium cyanide were found to be suitable controls for grade and recovery. Simulations showed the best sequence of manipulations of these reagents, and these sequences were useful for future operator training. The conclusion was that linear transfer functions were able to simulate lead and silver recovery, develop scenarios for operator training, and provide a foundation for future on-line control.

Jan 1, 1999

By Jeff Reid, Mohamed Maghari, Nicholas Joens

The Burnaby Mountain Tunnel was an integral part of the Trans Mountain Expansion Project. General Contractor, Kiewit Ledcor TMEP Partnership (KLTP), contracted with McNally Construction to build an underground tunnel between the Burnaby and Westridge Marine terminals under Burnaby Mountain. The pipeline was constructed within a 2.6-kilometre tunnel, eliminating the need to run the pipeline over the mountain and minimizing community impacts. The complexities of this Project led to multiple innovations, including the design of a Tunnel Boring Machine (TBM) capable of excavating through mixed-faced conditions concurrently thus allowing the Project team to complete the tunnel with limited geotechnical information.

Jun 23, 2024

By S. Bhattacharaya, S. Aich, B. K. Nandi

"At present scenario, there has been an increasing demand in the usage of blend coal in power sector; regardless of how, specific knowledge on burning and ignition characteristics and their interactive effects is stingy. In this work a detailed investigation was therefore taken up to study in detail the combustion characteristics of selected coal samples and their blends. Certain parameters were believed to have significant effects on combustion characteristics of individual coal and their blend. Major parameters identified for this purpose included proximate analysis, combustion conditions, heating rate, reaction regions, blending ratios, ignition condition, reactivity (or reaction rate) and burnout temperatures. With the help of these parameters, thermal features and reaction kinetics of the individual and blended samples were investigated through a qualitative and quantitative thermo-gravimetric analysis of two different individual coals and their blend carried out in an oxygen atmosphere from ambient to 800 0C at a constant heating rate of 10 K/min. A significant difference in terms of rate of mass loss with temperature correlated from Arrhenius expression along with coal-coal blend interactions and deviation from their expected behaviour, have been observed between the kinetics of individual and blend samples, the latter showing better ignition performance and comprehensive combustion phase. It was also found that particles having the lowest percentages of volatile matter and ash could possibly be blended with particles having high ash and volatile matter to meet the required burning condition which can be effective in terms of cost savings, improved fuel economy, reduced undesirable exhaust emissions and improved safety of coal burning equipment. Experimental results further indicated that individual samples and coal blend samples have different combustion features in terms of residue left, peak temperatures and activation energies. Thermodynamic activation parameters such as activation energy, pre-exponential factor and order of reaction were computed from the thermal data using the modified form of non-isothermal methods. INTRODUCTION Coal has been the most significant source of energy for India and would remain so at least for the next few decades. About 60-65% of the electricity produced in India is from coal fired power plants. Indian coal is of drift origin and of high ash content. Ash content of the coal burnt in power plants in India is in the range of 30-45%, most of it being Run-of-Mine coal. Most of the power plants in India source their coal from number of mines, most common being multiple sourcing. Usually coal from each source [1] is burnt separately. For various reasons mostly associated with logistics, burning of blended coal is rarely practiced. Blending of coal is practised mainly for improving the quality of available coal and meets the shortage of coal supply. Blending technique is generally practised in power industries to reduce the cost of power generation along with mitigating combustion performance or slagging problem ensuring consistency in as fired coal quality and also for environmental compliance. Blending good quality imported coal can improve coal quality and helps in preserving indigenous coal resources for longer period [2]. Use of blended coal shall reduce load on all boiler components (Mill, CHP, Boiler, AHP) & reduce O&M cost and increase the availability. The main purpose of blending is to get a blended as fired coal having ash, volatile matter and gross calorific value close to design coal and the two coals are to be blended in such ratio proportions that resultant coal blend have desired ash, volatile matter and gross calorific value [3]. For a coal to be blended certain parameters have to be considered to get compatibility with respect to combustibility ( Burn ability) of coal, grindability ( HGI), ash fusion behavior, swelling characteristics of coal, need to be checked"

Jan 1, 2017

By H. Kinilakodi

The authors previously developed a methodology that combines injury and citation measures into an overall mine safety performance evaluation tool, called the safe performance index (SPI). It can be easily adopted by mine operators to monitor trends in their injury and citation experiences as a risk assessment method. In this paper, six normalized safety measures and the SPI are used to evaluate the health and safety risk that existed at mines in the two years preceding the occurrence of a fatality. The percentage of mines is given for which the risk was high or where trends of some of the safety measures indicated moderate risk. In 50% of the mines, this mine safety performance tracking method could have been helpful to the companies, state agency or the U.S. Mine Safety and Health Administration (MSHA) in recognizing and addressing emerging problems with actions that may have been able to predict high-risk conditions, the fatality and/or other serious injuries. The approach would have given extra scrutiny to the risk for mines that encompassed 74% of the fatalities during 2007-2010.

Jan 1, 2012

By Peter J. Szabo

In 1980, a caravan of representatives of Japanese trading companies debarked on the shores of the United States bearing gifts of watches, electronic games, and radios. In early 1983, we find in a parking lot of a major U.S. coal company, a haggard general manager of marketing returning to the Orient with a box under his arm of trinkets of his own; cross pens with company logos, alarm clocks, etc. The tables have turned, but our fellow sitting in a jet plane over the Pacific Ocean had only to heed the warning of the famous 19th Century poet well familiar with the ways of the Far East. Kipling said; "And the End of the Fight is a tombstone white and with the name of the late deceased, And the epitaph drear, a fool lies here who tried to hustle the East."

Jan 1, 1984

By A. Thatcher, C. Day, C. Meyer

The purpose of this paper is to provide general information about the bioaccessibility of metals and specific information about the use of bioaccessibility in risk assessments (human health risk assessments [HHRA] or ecological risk assessments [ERA]) and a list of sites where regulatory agencies have approved the use of bioaccessibility data in risk assessment. The memorandum also cites current U.S. Environmental Protection Agency (USEPA) guidance as well as state specific guidance where applicable. BRIEF HISTORY OF METAL BIOACCESSIBILITY TESTING AND METHODS The bioaccessible fraction of a constituent is that fraction that dissolves or desorbs from its matrix (e.g., soil) in the gastrointestinal tract and is available for absorption (USEPA 2007a; ITRC 2011; ITRC 2017). This is different from the bioavailable fraction, which is the percentage of the amount of an element that an organism is exposed to that is absorbed by that organism during a given time under defined conditions (USEPA 2007a). The bioaccessibility factor is the percentage of a metal that is potentially available for absorption and, therefore, is a conservative estimate of the bioavailable fraction since all that is available for absorption may not ultimately be absorbed into the organism’s system. Currently, there are two main techniques for estimating bioavailability of metals within a medium: in vivo animal studies (time-consuming and often cost-prohibitive), and in vitro tests that simulate human, or animal digestion in a laboratory setting. In vitro and in vivo test methods and protocols have been extensively evaluated by numerous researchers (Ruby et al. 1996; Rodriguez and Basta 1999; Sips et al. 1998; Sips et al. 2001; Molly et al 1993; Oomen et al 2002; Kelley et al. 2002; Oomen et al. 2003; Furman et al. 2006; Drexler and Brattin 2007; Basta et al. 2007; Wragg et al. 2009; Wragg et al. 2011; Chaney et al. 2011; Bradham et al. 2015; Bradham et al. 2018). The most recent scientific literature demonstrates that protocols used to estimate the bioavailability of metals to mammals also predict bioavailability of metals to birds as well (Beyer et al., 2016).

Jan 1, 2019

By J. Potter, A. Anani, C. Antonio

This research aims to test the hypothesis that the low retention rate of women in the mining industry is caused by workplace culture and policies established due to gender segregation. A quasi-experiment is developed to determine the cause-and-effect relationship between gender segregation-inspired culture and the retention of women. The experiment considers the impact of the job type and the operational environment. The analysis provides information on factors that cause low retention of women in the industry, the extent to which gender segregation plays a role, and insights that allow actionable and measurable changes in the industry.

Feb 1, 2023

By James K. Kindig

Hazen Research, Inc., has developed a new process for removing pyritic sulfur and ash from coal. Feed coal is contacted with iron carbonyl vapors, Fe(CO)5, at 190°C which puts a thin skin of magnetic material on the pyrite and ash, but does not affect the coal. Thus, low intensity magnetic separators yield a nonmagnetic coal, low in sulfur and ash, and a magnetic refuse, high in sulfur and ash. Results are given for clean coal produced by this method. A comparison is made between results of the magnetic process and the U. S. Bureau of Mines two-stage flotation process cleaning identical samples of Pittsburgh Coal. Capital and operating costs of the two cleaning methods are discussed.

Jan 1, 1976

By C. D. Harrison, J. W. Parkinson

This paper compares the ash slagging potential of Illinois No. 6 seam coal as raw coal, as commercially cleaned coal processed in a baum-jig plant, and as coal cleaned to a reduced ash specification at the Electric Power Research Institute's (EPRI) Coal Cleaning Test Facility. The comparison is based on ASTM ash fusibility data, a slagging index, gravity fractionation analyses of critical mineral matter compounds, and comparative pilot combustion tests. The first three grounds of comparison are laboratory data. The final comparison involves burning about 13.6 t (15 st) of each coal at Conoco's 4.40-kW/h (1.5 million-Btu per hr) test combustor. The evidence of these four comparisons indicates that lowering the ash specification of coal before combustion can significantly improve the ash slagging characteristics of Illinois No. 6 seam coal.

Jan 1, 1987

By Norman R. Paterson

In November 1980 a combined airborne electro-magnetic (INPUT.) and magnetometer survey was conducted by Questor Surveys Limited in the State Line Area, Colorado-Wyoming. The survey was the result of discussions over a prolonged period between the authors and various investigators of the State kimberlite occurrences. As a result of these discussions and literature studies, it was decided that airborne geophysical methods would be potentially useful in the exploration for new kimberlite occurrences. The survey was designed by Paterson, Grant and Watson Limited and conducted by Questor Surveys Limited over an area in which more than 15 kimberlite bodies were known and on some of which ground geophysical surveys had been conducted. The survey was designed primarily to determine the airborne electromagnetic and magnetic responses of the known occurrences and to deter- mine whether these responses would be detectable under similar conditions in other parts of the State Line District and elsewhere.

Jan 1, 1984

By R. P. King

The MODSIM mineral processing plant simulator is used to find optimal combinations of target separation specific gravities in a typical modem coal washing plant. A plant that is set up with these optimal targets can deliver up to 10% more yield at the same ash content as the same plant set up with separation targets chosen by conventional methods. MODSIM is the only simulator currently available that can simulate the liberation of pyrite and other mineral matter during open-and closed-circuit grinding operations. The simulator can therefore be used to assess the benefits of grinding operations in the flowsheet.

Jan 1, 1997