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By Eric Low

Raising capital by issuing debt or equity is necessary in almost every corporation. In the field of corporate finance, the raising of capital is a heavily-studied topic. However, some of what is studied on this topic in corporate finance is not applicable in the mining industry. There are also many financing options that were created for the mining industry such as flow-through shares, prepaid forwards, and royalty sales. The cyclical nature of the industry makes the risk-return profile of financings more difficult to estimate than in other industries. Additionally, the methods used to assess firm value are different than other industries, as the values of orebodies are not included on balance sheets. For precious metals companies, which are a hedge against most other securities, there are additional complications with determining investor expectations and cost of equity. This thesis puts forth a decision-making framework to explain mine financing choices from the perspective of mining companies. The approach is threefold. First, all of the major equity and debt financing instruments available to mining companies are presented and analyzed. Each financing method is assessed on a wide range of criteria. Next, these concepts are applied in case studies of four companies: BHP Billiton, Barrick Gold, Teck Resources, and Noront Resources. For each company, the overall choice of financing methods is shown and analyzed. The effect of financing choices on the weighted average cost of capital (WACC) is calculated. The final section deals with case studies of individual mine finance decisions during the past two years.

May 1, 2011

By Bhaskar B. Thapa

The proposed Caldecott fourth bore will consist of a two lane highway tunnel along California State Route 24 near the City of Oakland. The proposed design and construction sequence for the 15-m-diameter tunnel are based on the New Austrian Tunneling Method (NATM). The initial support system incorporates combinations of shotcrete, rock dowels, lattice girders, spiles, and grouted steel pipe canopies. The final lining is cast-in-place reinforced concrete. A waterproofing membrane and drainage system are placed between the initial and final linings. State Route 24 is a lifeline route, required to be open to emergency vehicles within 72 hours after a major earthquake, defined as having a return period of 1,500 years and a peak ground acceleration of 1.2 g. Although the seismic design criteria are stringent, the design of the tunnel lining system is ultimately controlled by static ground loads in the weak rock along the alignment.

Jan 1, 2008

By Tad S. Golosinski, R. Larry Grayson

Online education is not new. During the last decade, it has reached the stage where many universities offer a variety of courses, degrees and programs without any associated residency requirements. The most successful of the online universities, University of Phoenix, offers hundreds of accredited programs for close to 100,000 students throughout the world (www.phoenix.edu). Online education is considered to be a valid equivalent to traditional, classroom-based education. It is best suited to the needs of mature students with full-time jobs and a desire to deepen their knowledge. While most of the e-business has experienced severe setbacks during the last two years, e-education shows no signs of slowing down. On the contrary, the number of students and institutions offering online education keeps growing. The value of e-education associated expenditures was expected to reach $300 billion in 2001 (Sanoff,2001), making it a serious and mature industry.

Jan 1, 2002

By Samuel Frimpong

The interaction of oil sands with a ground articulating pipeline (GAP) system has been simulated with the dynamic model established in this work by combining the multi-body and soil dynamics with the Automatic Dynamic Analysis Mechanical Systems (ADAMS) software. Mathematical models governing the interaction of the GAP system with the oil sand terrain have been modeled based on the theory of multi-body and soil dynamics. These models consist of GAP track-oil sand contact model for generating the contact force between oil sands and track and load-deformation oil sand model for capturing the dynamic behavior of oil sands. A virtual prototype has been created and simulated in the ADAMS environment. The simulation result of the effect of load on oil sand deformation indicates that maximum deformation value increases non-linearly with load varying from 0 to 60t. This study provides a solid foundation for further research and the GAP technology development.

May 1, 2004

By Lincoln A. Stewart, P. S. Haury

"INTRODUCTION AND RESUME Arizona asbestos mines are the only sources on the American continents of iron-free chrysotile spinning fiber that meets the Navy specifications for asbestos fiber for use in covering electrical cables. Rhodesia normally supplies the bulk of this grade of asbestos at about half the Price of Ari zona spinning fiber. The acute submarine menace in 1942 focused attention on the danger that imports might be cut off and that a sudden demand for greatly expanded production might fall on the Arizona mines to supply the tonnage of this essential material needed for war production.A joint preliminary investigation of Arizona asbestos deposits was made in August 1941 by J. R. Thoenen, senior mining engineer of the Bureau of Mines and A. E. Granger, a geologist of the United States Geological Survey. A more extended investigation of the numerous asbestos mines and prospects, which are scattered over 25 townships of difficult terrain in Gila County, was begun by the senior author in August 1942.The Geological Survey assigned two geologists (Newton Chute and A. F. Shride) a few weeks later to study the geology as an aid in selecting the mines for the Bureau's exploration projects. Six mines were selected for exploratory work because it was desired to prove reserves of ore where production could be started quickly if urgent demand should arise. Acceleration of production is normally slow because of adverse operating conditions. First, the mines are at distances of 35 to 100 miles from Globe, the shipping and supply point, and the roads are few and poor. The mine openings start in steep canyon walls, so that mining supplies usually have to be packed in and the product packed out over 0.5 to 5 miles of burro trail. Second, most of the ore deposits are small, and the ratio of rock broken to spinning fiber recovered is very high, usually exceeding 200."

Aug 1, 1947

By K. W. Lee, C. Pound, J. Carmody, L. Petersen, C. Nelson, J. G. Cai

The feasibility of developing the Underground Science City below the Kent Ridge Park has been investigated. The primary aim of the study has been to explore the possibility of creating underground space to house a new community of research laboratories and offices. The investigation represents the first such study undertaken in Singapore for a non-military underground facility. The paper describes the geology of the Underground Science City site and illustrates the layout and plan of the Underground Science City. The geology and rock mass below the Kent Ridge Park is generally favorable for the development of an underground cavern complex. Underground Science City can be potentially developed housed in a cavern complex. Several potential development schemes are studied; with various combination of deep/shallow mined caverns of different span sizes and access options. The preferred scheme is shallow, mined room-and-pillar caverns with large spans and shaft accesses at both existing surface Science Park 1 and Science Park 2. The scheme can be potentially expanded laterally to create more underground space for new Underground Science Cities at Kent Ridge area.

Jan 1, 2001

A large body of porphyry-type copper mineralization occurs at Panguna in southern BougainviIle. It is associated with the intrusion of quartz diorite/granodiorite into andesites, particularly with the contact zone. Metasomatism of both intrusives and andesite resulted in the formation of biotite pseudomorphing hornblende and the veining of the resultant biotite diorite and biotitized andesite by quartz-chalcopyrite veins with pink orthoclase and dark biotite selvages, respectively.The orientation of intrusives and veins appears to be controlled by premineralization fault-joint patterns in the intruded andesitic Kieta Volcanics.

Jan 1, 1968

By A. T. Iannacchione

The Bureau of Mines established geologic factors affecting the mining of the Lower Kittanning coalbed to aid in coalbed minability studies and examined the occurrence of "wants" (places where coal is missing) and types of unstable roof rock strata. Trends established from mapping, including prediction of areas of high methane emissions, were extrapolated to unmined areas. 'Wants' in the coalbed are of two types: Erosional and depositional. Erosional features occur where north-south-trending sand-filled channels cut into the coalbed. Variations in depositional environments have caused the coalbed to "split" into several thinner units. Slickensides, commonly indicative of unstable roof, are adjacent to and on the underside of sandstone channels; they were caused by differential compaction and by soft sediment sliding along the contact between the sandstone and adjacent shale. The frequency of unstable roof also increases where the interval between the Middle and Lower Kittanning coalbed is less than 30 feet. The zones of weakness at the contacts above and below the Middle Kittanning coalbed are the controlling factors for unstable roof in these strata. Methane emissions from the coalbed are controlled primarily by depth, fracture permeability, and rank of coal. Local geologic factors are coalbed thickness, associated rock strata, structure, and proximity to outcrop.

Jan 1, 1979

By Frank B. Fulkerson

This is the second of two interrelated studies of waterborne transportation. The first study discussed transportation of mineral commodities on the inland waterways of the South-Central States.2 Together, the two surveys describe and analyze the flow of foreign and inland waterborne commerce of the gulf coast. All the principal mineral-industry imports and exports of the gulf coast are mentioned in the report, including metals, nonmetals, and mineral fuel products, The gulf coast foreign trade in mineral industry products was determined to be composed of a small number of commodities.

Jan 1, 1971

By H. Sekimoto, T. Matsuoka, K. Yasuhara, M. Ota, S. Akutagawa

A magnetic anisotropy sensor is used for nondestructive measurement of stress on surfaces of a ferromagnetic material, such as steel. The sensor is built on the principle of the magneto-strictive effect in which changes in magnetic permeability due to deformation of the material is measured in a nondestructive manner, which then can be translated into the absolute values of stresses existing on the surface. This technique was applied to measure stresses of H-beams used in tunnels. The results show that this method could be one of the promising technologies for non-destructive stress measurement for safe construction of underground structures. Une sonde magnétique anisotropique est utilisée pour des mesures non-destructives de stress sur la surface d' unmétal ferromagnétique, comme l'acier. La sonde est construite sur le principe de l'effet magnéto-strictif dans lequel les changements dans la perméabilité magnétique due à la déformation du metal est mesurée avec une manière non-destructive, qui peut être alors traduite en valeurs absolues des stress existants à la surface. Cette technique a été appliquée pour la mesure de stress des poutres en H utilisées dans les tunnels. Les résultats montrent que cette méthode peut être l'une des technologies promet tantes concernant les mesures non-destructives de stress pour des constructions sûres de strcutures souterraines. Ein magnetischer Anisotropie-Sensor wird für die zerstörungsfreie Messung von Spannungen an Oberflächenvon ferromagnetischen Materialien wie z.B. Stahl verwendet. Der Sensor kann Änderungen in der magnetischen Durchlässigkeit auf Grund von Verformungen des Materials erkennen, die dann in Absolutwerte der Spannungen an der Oberfläche umgerechnet werden können. Die Methode wurde auf Messung von Spannungenvon H-Balken in Tunnels angewendet. Ergebnisse zeigen, dass dies eine vielversprechende Methode für diezerstörungefreie Messung im Tiefbau ist.

Jan 1, 2003

By S. Gan, E. van Niekerk, L. Birrell, D. Robbertze, L. Ncubi, B. Zhao

Quality assurance and quality control (or QAQC) plays a key role in safeguarding the level of confidence of the data generated during mineral exploration and mine development, and is also part of the reporting code requirements for resource estimation and reporting, as well as mining investment. Implementation of good policies and working protocols in quality management will result in the generation of reliable information, which is critical for decision-making on the future of the mining project. The use of certified reference materials, i.e., standard, blank, and duplicate samples, proves effective and efficient for ensuring the level of data confidence in terms of precision, accuracy, and sample contamination. This is well demonstrated by the practice of QC in the exploration programme for the chrysotile tailings storage facilities of Havelock Mine, using 1254 samples from 53 drill-holes. Different statistical tools were applied to analyse the assay results from these samples. The outcome substantiates that the QC practice established during the Havelock exploration project is aligned to best practice guidelines in the industry. The resource delineated indicates that the tailings material at Havelock could potentially become a significant source of supply to the global magnesium market.

Jul 2, 2022

By Silas Li, Michael Harris-Gifford, Jason Choi, William H. Hansmire

Twin-bore tunnels with a single track in each tunnel are currently the most common subway tunnel configuration. However, a large diameter single-bore tunnel with two tracks separated by a center wall could replace twin-bore tunnels and introduce potential benefits but require necessary modifications to the subway system. In particular, a nominal 40-foot-diameter single-bore tunnel can be considered in lieu of nominal 20-foot-diameter twin-bore tunnels. This paper discusses the benefits and modifications introduced by replacing twin-bore tunnels with a single-bore tunnel, with respect to various elements of the subway related to the tunnel, stations, track, and tunnel systems.

Dec 1, 2022

By Rafael C. Castro, Geoffrey Hughes, Fredrick (Rick) Vincent, Philip H. Albert

Seven pairs of drop and ventilation shafts, between two and nine feet in diameter, will convey combined sewer flow to a 230-foot-deep, 26-foot diameter storage tunnel. This paper will present case histories for each site. Discussion will include functional requirements, program and site access constraints, structural design, geology, the variety of excavation and lining construction methods used, and lessons learned. Noteworthy observations include the importance of assuring competent ground sup-port at the soil-bedrock interface and of achieving tight verticality tolerance using both top-down and raise bore excavation methods.

Jan 1, 2007

By Murray Wood, Michael Schaffer, Makat Katom

"An expert system applied to the control of mineral process unit operations is, by its nature, the site best operating practice, having been designed by the local experts in conjunction with consulting metallurgists. The “common sense” layer in a MET (MinnovEX Expert Technology) solution determines an appropriate action for the current operating conditions through a developed heuristic model of the process (expert system). The magnitude of the setpoint change that is made is proportional to the confidence that the system has in its interpretation of the current conditions (fuzzy logic). The solution is always striving to take the process to a constraint and thereby optimise the operation. An accepted limitation of the solution is that the only way the system can determine if a constraint has been reached is to exceed it and then withdraw – essentially “experimenting” with the process. By leveraging a model, which can accurately ""simulate"" the process, this restriction can be circumvented by pre-testing the set point change through a ""what if"" analysis and then modifying the solution as appropriate.At Ok Tedi, the introduction in 1999 of a MET expert system for SAG milling resulted in significant improvement in circuit throughput. Yet, with the additional inclusion of an accurate model of the process there was still more that could be achieved. Hence, in 2002 a MET Neural Network model was developed and deployed to enhance the existing expert system solution. The principal objective of this model was predicting the effect that changes in SAG tonnage and density would have on the power draw of the mill - essentially a power predictor. The results have seen a decrease in process variance with an associated increase in average circuit performance.This paper describes the methodology by which the Neural Network model was implemented, the considerations and limitations when applying this technology and ultimately the results that were achieved."

Jan 1, 2003

By H. Rozovsky

"AbstractThis paper discusses the methods of handling air in a large asbestos mill presently being completed at the Jeffrey mine of the Canadian Johns-Manville Company in Asbestos, Quebec.The mill, being the largest single asbestos producer in the world and capable of handling over 14,000 tons of ore per day, requires vast quantities of air. A minimum of 2,500.000 c.f.m. is required or about 10 tons of air for each ton of ore milled.Short descriptions of the process and systems requiring this air are given, followed by details of the fans and filters which make up the heart of the mill.This 'draw through' system, located on the top or 12th floor, is an automatically .controlled volume-pressure system creating the required suction to draw .air throughout the mill building and its numerous air systems.The dry mechanical method of milling develops enormous quantities of airborne dust and fibre. A section of this paper is devoted to a description of the multiplicity of dust systems within a system to control, filter, and remove this dust.Finally, the paper describes the method of returning the filtered air to the• working floors or to the outside, with some notes on heat, humidity and dust counts.IntroductionGeneralTHE discussions in this paper deal only with operations where air movement is involved. No attempt is made to delve into production methods.The Jeffrey mine of the Canadian Johns-Manville Company, located about 100 miles east of Montreal, is the largest single asbestos producer in the world, being responsible for over half of Canadian asbestos fibre production."

Jan 1, 1955

By Briggs H.

The illustrated device uses the principle that the lamp can burn with a smaller inlet passage if the air is rich in O2 and that the size of the inlet can be made a measure of O2 percentage. The appliance consists of an adjustable cut-off applied to the inlet of a safety lamp of the improved Gray pattern. Precision is assessed from tables of calibration tests in air contaminated with blackdamp of CO2:N2 composiiton 1:5.67 at temperatures of 40-70 degrees F. Results are presented of tests at St. Germain's colliery, of tests in air contaminated with pure CO2 and of air contaminated with both blackdamp and inflammable gas; published ranges in mine-air blackdamp compositions are tabulated as ranging from 90.06% N2 to 43.90% CO2. When firedamp is present at 1.25-2.5%, its content must first be estimated by means of the cap and a fifth of its value then deducted from the lamp reading for O2

Dec 1, 1916

By Larkin F, Farrer E, McGhie R. R

The Electrolytic Zinc Company of Australasia Limited commenced productive operations during February, 1936, at the- Rosebery and Hercules mines, which are situated near Rosebery, Tasmania. At this time it was decided that before re-organizing the steel sharpening shop a test should be made of the relative merits of conventional drill-steel and detachable bits. For this purpose Ingersoll-Rand type"I" thread centre hole.jackbits were selected and seventy-two of these were tested against conventional steel. Results indicated that, under the conditions pertaining at these mines, j ackbits should prove more economical than conventional drill-steel bits, and that a large-scale test, under working conditions, should be made. This was done by gradually replacing conventional drill-steel with jackbits at the Rosebery mine. Results were satisfactory and by the end of 1936 both mines were using only the jackbits.

Jan 1, 1939

By W. W. Adams

Coal mining in the United States established a good safety record in 1939. The death and injury rates per man-hour of exposure to risk were favorable compared with most previous years, and the number of persons killed or injured in proportion to the quantity of coal mined was also lower than in any other year for which figures are available. Moreover, productivity per man-hour was higher than ever before. The number of man-hours of work performed increased 9 percent over 1938, but there was a slight decrease in the number of men employed. Reports from operating companies showed 539,375 men employed during the year, and the period of operation averaged 179 workdays per man. Man-hours of work numbered more than 678 million. Accidents to the workers resulted in 1,078 fatalities and 54,015 nonfatal disabling injuries, causing disability of the employee for more than the remainder of the clay on which the accident occurred. For each million man-hours of exposure of the employees to mining hazards the fatality rate was 1.59 compared with 1.78 for 1938, and the injury rate was 79.65 compared with 82.61 for 1938. Production of coal averaged 0.661 ton per man-hour compared with 0.637 ton in 1938. The weighted average length of the workday was 7.03 hours or virtually the same as the previous year's average of 7.04 hours. Measured in man-hours, the average period of employment per man was 1,257 hours in 1939 and 1,147 hours in 1938.

Jan 1, 1942

A slag-metal equilibrium study of the system SnO-FeO-(Si02+Al2O3)/Sn-Fe was carried out at 1250°C. The distribution coefficient, k =(Sn/Fe)metal X (Fe/Sn)slag was found to range from 246 for an iron contentof 0·53 per cenrt in the metal to 82 for an iron content of 6·4 per cent. The value of the ratio ?SnO/?FeO was calculated and found to be approximately a function of per cent SnO in slag alone in the region (Si02+Al2O3)/ FeO = 0·4 to 1·2. Comparison with other published work suggests that the addition of CaO to slags having (SiO2+Al203)/FeO ratios of about 1·1 raises the value of ?SnO/?FeO...

Jan 1, 1974

By P. Hickey, J. Spenceley, T. J. DeMull

Development of the Batu Hijau Project was successfully completed in the fourth quarter of 1999 with the final handover and start-up of ore processing facilities. The development project had started more than three years earlier, in August 1996, when the Owner, PT. Newmont Nusa Tenggara (PTNNT), awarded an EPC contract to Fluor Daniel (FD) for design and construction of the project including: copper concentrator, port, power plant, town site, and infrastructure. PTNNT managed the development of the mine and procurement of mine equipment with its own forces. Bringing the Batu Hijau copper deposit into production was the largest mining project ever undertaken. Development of Batu Hijau was a complex project involving the work of tens of thousands of people in all parts of the world to complete engineering, manufacture and deliver equipment, supply materials, and build the plant. The ore deposit is located on the tropical island of Sumbawa in a remote and undeveloped section of Indonesia. The location and environment presented challenges for all phases and aspects of the project. To meet the challenges, the project team combined good planning and teamwork to best utilize the resources available. This approach assured continuity of personnel through construction to operations and minimized cost, resulting in completion of the project ahead of schedule and under budget.

Jan 1, 2001