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By Frank R. Field, Joel Clark, Walter C. Labys, William A. Vogely

Mineral models provide a systematic and comprehensive approach for analyzing and fore- casting the behavior of mineral markets and industries.' They also permit the analysis of a wide range of policy decisions. Obviously such models cannot capture all of the intricate relationships that shape the behavior of a mineral market. However, such models have become extremely useful and in many cases support the decision making approach of judgmental analysts. They tend to narrow the range of likely outcomes and thus reduce the risks and uncertainties of investing, trading, and speculating in minerals. Mineral models provide not only answers to "what-if" questions, they also inform analysts of the benefits and costs associated with mineral investment decisions. More recently they have been applied to specific mineral issues of the possible impact of buffer stock stabilization schemes and of import supply restrictions. Mineral Models Defined Because mineral models are so diverse, we must begin with a fairly broad definition. A mineral model is a formal representation of a mineral market, industry or system where the behavioral relationships included reflect the underlying economic and engineering factors as well as the political and social institutions. Of ten, but not always, a mineral model will consist of some combination of the following components: demand, supply, inventories and prices. Modeling of demand behavior normally begins with an interpretation of basic demand responses to prices and income (i.e., the associated price and income elasticities). Price elasticities vary among different minerals and among their diverse uses. They tend to be lower for minerals without close substitutes than for those where such substitutes exist. In addition, these elasticities vary with time as well as with the actual excess demand or excess supply. Variations like these, coupled with the relative instability of prices for a number of minerals, make explanations of demand behavior difficult. The degree to which demand responds to changes in income depends on the income elasticity of the end products to which the minerals serve as inputs. Those products with a relatively low income elasticity tend to experience proportionally smaller swings in sales than those with higher elasticities. The transmission of demand cycles to minerals producers comes through a series of stage-of-process effects. Demand measurement also is influenced considerably by mineral substitution patterns. The cross-price elasticity of a competitive or complementary commodity also varies with minerals, markets, and time. Where minerals easily substitute for one another, as in the case of cop- per and aluminum in electrical conductor applications, cross-price elasticities are relatively high. Modeling of mineral supply behavior normally involves consideration of resource development, economic conditions, geologic

Jan 1, 1985

By Richard O. Y. Breese

Geologically and commercially, the term diatomite is applied to the nearly pure sedimentarv accumulation of diatom frustules- the microscopic skeletons of unicellular aquatic algae belonging to the class of golden brown algae, bacillariophyceae. The sediments are fine-grained, siliceous, and consist primarily of amorphous opaline silica with only minor amounts of organic residue, secondary minerals, and co-deposited non-diatomaceous or crystalline clastic debris. In the geological sense, the name diatomite implies sedimentary accumulations that have reached appreciable thickness and when thick enough, such accumulations consequently may have possible commercial potential. Although the term diatomite is popularly and inappropriately applied to any sediment in which there is an abundance of diatom frustules, alternative terminology is more correctly employed to describe the less pure diatomaceous sediments, for example: clay-bearing diatomite or diatom-bearing clay. Synonyms in current usage include diatomaceous earth and kieselghur. More antiquated and obsolete terminology includes tripoli-powder, tripolite, and infusorial earth. Worldwide, diatomites occur within Tertiary to Recent lacus- trine and marine sedimentary facies. Although diatomite is wide- spread throughout the world, deposits that contain high purity, commercially versatile ore are uncommon. Physical properties of the diatom and of processed diatomite that provide unique commercial value in a broad spectrum of market end-uses include ornate fine structure, low bulk density, and high porosity and surface area. Properties of equal importance are mild abrasiveness, high absorptive capacity, insulating ability, relative inertness, and high brightness. End-use markets are diverse and range from insulating brick and absorbents through quality sensitive filter aids and premium quality functional fillers. Notwithstanding both the economic attractiveness of the specialty markets and the commercial versatility of the high purity deposits, deposits of lesser purity are mined in nearly all parts of the world for less demanding uses. Mining costs are minimized through open pit quarrying, but in Europe, Asia, Africa, and South America underground mining methods are also employed. Blasting is not required because diatomite is soft and easily broken loose with mechanized equipment. Following gentle crushing, the ore is dried, milled, and processed into one of three broad categories of products: naturally milled, straight calcined, and flux calcined grades. Each of these principal categories is further subdivided into additional grades through particle size adjustment of the powders. Agglomeration of particles, alteration of fine structure, and color change are achieved through calcination. Flux calcination further accentuates these changes. Production throughout the world is dominated by the United States, followed by Romania, the former Soviet republics, and France. Other major producers include Spain, Mexico, Iceland, Korea, Japan, and Germany. Denmark is a major producer of Moler earth products, which consist of a diatomite-clay mixture. HISTORICAL BACKGROUND The first industrial use of diatomite can be traced back some 2000 years to the Greeks and to the use of diatomaceous earth as a component in lightweight building brick and in ceramic pottery. It was not until the mid-1800s, however, that the unique properties of diatomite were first recognized and the market end-uses explored and developed. One of the most important of the early uses followed the development of dynamite by Alfred Nobel in the mid-1860s, whereupon diatomite was used as a component of the explosive to improve stability and safety. Other early uses included low temperature insulating and refractory bricks and as a component in insulating and fireproofing construction panels. During the 1920s, processing technology underwent a very rapid evolution with the development of calcination, flux calcination, and air classification technologies. Through these technologies, innumerable different size and grade classifications could be made for market applications and for rapidly diversified end- uses. Today, the application of processed diatomite for filter aid is the largest of the quality sensitive end-uses. Specific filtration uses include the clarification of beer, wine and liquor, vegetable oil, syrup and sugar, pharmaceuticals, and swimming pool water, to name a few. As a functional filler and extender, processed diatomite is ideally suited for application in paint, rubber, and plastic formulations. Other filler applications include use as an anti-blocking agent in plastic film, anti-caking agent for fertilizer, thermal insulating material, catalyst carrier, polish, abrasive, pesticide and fertilizer carrier, and chromatographic supports. Throughout much of the world diatomite is still used as a component of insulating brick and as an absorbent.

Jan 1, 1994

By Ali Jaberi Zamharir, Abolfazl Shoghian‐Alanaghi, Hossein Aghajani, Arvin Taghizadeh Tabrizi

In this study, the leaching rate of molybdenite concentrate was evaluated in sulfuric medium, and the influence of the diverse oxidants including hydrogen peroxide, manganese oxide, copper sulfate on the leaching rate was studied. Also, the effect of the addition of the ethylene glycol to the hydrogen peroxide was studied and results showed that with the addition of ethylene glycol, the leaching rate is increased 55% from 41% up to 80.3%. The optimum condition is achieved as 0.7 M of H2SO4, 4.4 M of H2O2, and 3.5 M of EG at 30 °C within 4 h of leaching time and 500 rpm. Also, inserting the oxygen with the pressure of 6 bar to the leaching autoclave, the leaching rate is increased more up to 86.4%. Finally, the leaching process was studied kinetically and the determined mode of controlling factor was specified based on the activation energy which equals 46.252 kJ/mole indicating the chemical reaction mode.

Jun 5, 2022

By H. A. Kortmann

For the commercial production of iron ore pellets from hematite ores, as it is practiced in various pellet plants, the addition of lime has shown to be an efficient means with a view to improving cold compression and abrasive strength of the indurated pellets considerably. Unfortunately, it has also been shown at the same time, that the metallurgical properties as, for instance, swelling behavior, softening during reduction under load and disintegration of the grain, can be adversely affected to a high degree. In the course of smelting tests carried out by renowned steelworks, blast furnace operation was heavily disturbed by the swelling and early softening of the pellets, also by their disintegration in the low-temperature range, which altogether led to a considerable lowering of the smelting rate (1, 2, 3).

Jan 1, 1972

By H. Simpson

Middelburg mine is an opencast export mine operating in the Eastern Transvaal Coalfields of the Republic of South Africa (Figure 1). The mine was commissioned in 1983, to its original design capacity of 4.25 million sales tonnes which was subsequently raised to 5.5 million sales tonnes in 1989. This increase in export tonnage was brought about through an increase in the mines export allocation and the revision of management strategies. The maintenance of this increased tonnage with minimal additional capital has been achieved through improved operational efficiencies and the upgrading of planning operations through the purchase of an Enhanced Mine Scheduling Software Package (EMSSP/MINESTAR). Simultaneously with this requirement were additional factors that contributed to the implementation of the EMSSP. The mine was owned by a joint venture of two partners and is operated by Middelburg Mine services (Rand Mines Pty. Ltd) (Figure 2). This structure of ownership required the evaluation of numerous planning options to be under-taken concurrently and hence the need for an efficient streamlined scheduling pack-age that could fulfill this requirement. Compounding the EMSSP needs further, were the problems experienced in the export market, these being the external pressure from current and new suppliers in the market place which obliged management to provide solutions to rapidly changing market conditions. These fluctuating market conditions have had a direct effect upon the mine's planning strategies because of the large percentage of the mine?s sales sold on the international spot market. The sanction factor for all South African exporters has had a negative effect upon price and this was compounded further through internal competition in 1987 via suppliers attempting to maintain the market position.

Jan 1, 1991

By H. Dreissen

Upgrading of low-concentration ores is of growing importance today. The Heavy Medium Cyclone Process, thanks to strong centrifugal forces, effectively separates particles varying only slightly in specific gravity but widely in size. The paper discusses the separation efficiency, the method of assessing that efficiency, and the influence of such factors as medium solids. The operating results of nine heavy medium cyclone plants handling following minerals are reported: barite, wolfram, iron, magnesite, diamond, lead-zinc, fluorspar, rocksalt potash. Highlighted are an improved recovery system for heavy medium and some other developments, such as techniques for separation down to 0.1mm and the application in the field of recycling.

Jan 1, 1980

By Richard E. Lounsbury

Coal mine refuse handling traditionally has been the redheaded stepchild of the industry - a problem to be ignored as much as possible. During the past few years, however, mining companies have become more aware of the potential water pollution problem associated with refuse handling and storage. Planning for refuse disposal increasingly emphasizes protection of the environment as well as economics of refuse handling. Coal companies are responding to the environmental control needs by devising new systems and adapting well-known techniques to refuse handling systems. Monterey Coal Company has operated a non-polluting refuse disposal system at its No. 1 Mine for over two years. The purpose of this paper is to describe the design considerations given to the planning of that system and the operational experience gained during its construction

Jan 1, 1973

By William Gleason

"It has been more than 10 years since Montana Resources’ copper/molybdenum mine has had a lost-time injury at its site in Butte, MT. With more than 350 employees and an average production of about 15.5 Mt/a (17 million stpy), which includes 29.5 kt (65 million lbs) of copper and 4 kt (9 million lbs) of molybdenum, the mine’s journey to a decade of exemplary safety is an impressive feat that has required hard work, commitment and, most of all, leadership from every level of the operation.It has not always been an easy journey, nor has it been one without scrapes and bumps along the way, but it is one that has produced stellar results. Mike McGivern, vice president of human resources, and Pete Steilman, safety manager at the mine, spoke with Mining Engineering about how the operation transformed from a site that was accustomed to collecting citations for safety violations to one that is now collecting awards for its safety record.Simply put, Montana Resources has made safety a value and the people its top priority.The operations faced many predictable challenges in 2003, when the mine was being brought back online after three years of sitting in care-and-maintenance status. It had been shuttered in 2000 because of low commodity prices and high operating costs, and, in the three years that the mine was idled, the equipment became dilapidated, and some of it was no longer in compliance. Less than half of the workforce returned to the site for the restart, and the team was challenged with getting the gears turning again to produce copper and molybdenum. But the most daunting challenge of all of was keeping the workforce safe during the transition.In the first few years of operation the mine racked up citations from the U.S. Mine Safety and Health Administration (MSHA) at an alarming pace, so much so that in May 2006, Montana Resources received a letter from the MSHA District Office informing the company that the operation was being placed on the Potential Pattern of Violations list due to its excessive citation history and high rate of significant and substantial citations. It was clear that something significant had to be done to change the course of action at the mine."

Oct 1, 2019

By Amila Sandaruwan Ratnayake, T. Dilmi. U. Wijewardhana, H. C. S. Subasinghe

The value addition potential of ilmenite was examined using several characterization techniques. Raw ilmenite is composed of 93.65 wt.% of FeOTiO2, 3.55 wt.% of SiO2, 1.22 wt.% of Al2O3, and the remainder being other minor oxides. Ilmenite and powdered carbonized coconut shells were mixed in the weight ratio of 4:1. A separate fraction of the same mixture was added with powdered seashells in the weight ratio of 4:1:0.5. Six fractions of each mixture were distinctly milled from 1 to 6 h in a planetary ball mill. XRD spectra (broadened and diminished reflections of ilmenite) and FTIR observations (Ti―O―Cbonding) of milled samples indicate the possible incorporation of carbon into the ilmenite structure. Any clues of an occurrence of new rutile peaks were not observed in XRD spectra of milled samples. Consequently, the carbothermic reduction has not been initiated during mechanical activation. In this case, samples powdered for 6 h in a mill were isothermally annealed for 2 h under normal airflow at temperatures of 800 °C, 1000 °C, and 1200 °C, respectively. According to the X-ray diffractograms, the annealing temperatures of 1000 °C and 1200 °C exhibited almost similar trends with rutile (R), pseudobrookite (PB) and elemental iron (F), and a very few ilmenite (I) peaks. Consequently, 6 h of milling and 1000 °C annealing were concluded as the optimum conditions for the carbothermic reduction. Moreover, this study indicated seashells as a potential rate raiser for the carbothermic reduction of ilmenite at 800 °C. Therefore, this process is applicable to upgrade ilmenite into a mixture of synthetic rutile and elemental iron.

Mar 29, 2021

By C. Heckman, M. S. Moats, A. Luyima, W. Cui

"Cyclic voltammetry, electrochemical impedance spectroscopy (EIS), and galvanodynamic and chronopotentiometric techniques were used to characterize the effects of DXG-F7®, a commercial smoothing agent, on copper electrodeposition onto 316L stainless steel from a synthetic electrolyte containing 40 g/L copper (Cu2+), 160 g/L sulfuric acid (H2SO4) and 20 mg/L chloride (Cl-) at 40oC. The findings were compared against results using HydroStar® 4208, a modified polysaccharide. The nucleation overpotential and plating potential observed in cyclic voltammetry and galvanodynamic testing showed that neither DXG-F7 nor HydroStar significantly polarized acidic copper electrodeposition. Subtle differences between the additives were found during EIS testing and modeling, but more research will be needed to fully understand these differences. Surface-roughness measurements of two-hour deposits indicate that DXG-F7 and HydroStar produced smoother deposits as their concentrations in the electrolyte increased. No difference in the surface roughness of deposits was detected between the additives. Based on the experimental evidence resulting from the laboratory testing, no significant difference was found between DXG-F7 and HydroStar at 20 mg/L Cl- concentration, with the exception that DXG-F7 dissolves more easily in water than HydroStar. Introduction Cathode deposits obtained from acidified copper sulfate electrolyte(s) without organic additives are often soft, coarsely crystalline and nodular (Sun and O’Keefe, 1992). Therefore, small amounts of organic additives are added to the electrolyte to produce level and dense cathodes during copper electrowinning. The action of organic additives is thought to be due to their adsorption on the surfaces of the newly formed copper grains. Hence, any copper grain that grows excessively fast adsorbs a layer of organic additive, which inhibits growth. The result is a smoother and harder deposit of suitable purity (Sun and O’Keefe, 1992). In part I of our four-part series on the examining of copper electrowinning smoothing agents, a review of previously published work on organic additives used during copper electrowinning was presented (Moats, Luyima and Cui, 2016). In the review, it was noted that many tankhouses had switched from guar to other saccharide-based products such as HydroStar and DXG-F7."

Jan 1, 2016

By Richard W. Cannon

INTRODUCTION The authors, by means of this paper, will attempt to show the role of Induced Polarization and Resistivity surveys in the discovery of the orebodies of Gibraltar Mines Limited (N.P.L.). In this paper, we will also attempt to show the importance of conducting large enough surveys in order to properly evaluate the results obtained from these surveys. LOCATION The orebodies of Gibraltar Mines Limited (N.P.L.) are located on the western slope of Granite Mountain, central British Columbia (52°30' north, 122°16' west) (See Fig. 1). The property lies approximately 28 miles north of Williams Lake, B.C. and can be reached by way of 10 miles of newly improved road from McLeese Lake, on the Cariboo Highway. The area in and around Gibraltar Mines has a moderate topographic relief with elevations between 3,500 and 4,100 feet. {EARLY HISTORY AND GEOLOGY The present Gibraltar Mines property before amalgamation consisted of the Pollyanna property (Duval-Canex) and the Gibraltar property (original Gibraltar Mines) as well as some Coast Silver and McLeese Lake Copper claims (See Fig. 2). The Pollyanna property was first described in the 1917 B.C. Minister of Mines Report which referred to it as the "Rainbow Group". The development at that time consisted of several open-cuts on copper bearing quartz veins.

Jan 1, 1972

By J. C. Norman

The United States was the world’s largest producer and consumer of boron compounds during 1995. According to estimates from the US Geological Survey(USGS), boron mineral concentrate and chemical production in the United States totaled an estimated 1.1 Mt(1.2 million st) yielding 602 kt (663,000 st) of B2O3 for an estimated value of $462 million. This level of production exceeded 1994 revised production figures by about 9%. The United States continued to provide nearly all its own boron supply while maintaining a strong position as a source of sodium borate products and boric acid to foreign markets. During 1995, about 900 people worked in domestic boron mines and plants, about the same as in1994. USGS estimated total world production of boron during 1995 to be about 3 Mt (3.3 million st), yielding about 1.6 Mt (1.8 million st) of B2O3. World production in 1995 was about equal to revised 1994 levels.

Jan 1, 1996

By W. L. Josey

The Stibnite Project is an open pit/cyanide heap leach gold property located in the Yellow Pine mining district of central Idaho. The gold ore is in an oxidized zone of an epithermal deposit which is associated with a fault system related to Tertiary igneous activity of the region. The faults transect a roof pendant of metamorphosed sediments within crystalline rocks of the Idaho Batholith. Seasonal mining is at a rate of 3900 mt/d (4300 st/d) of ore with a 2:l waste to ore ratio. Gold and silver are recovered through a process of cyanidation, carbon adsorption and desorption, and electrowinning. Disposal of the leached ore requires chlorination of the residual cyanide.

Jan 1, 1984

By Rihab Guellala

In Tunisia, the Paleocene-Eocene series has an important socio-economic interest. It contains profitable oil and water accumulations. Moreover, it encompasses phosphate reserves. The present study uses seismic reflection prospection and borehole data for the reconstitution of the Paleocene-Eocene deposit structure in the Jerid area (southwestern Tunisia), a crucial step for the phosphate exploitation. Firstly, lithostratigraphic correlations incorporating water and petroleum wells were established according to different directions for a tentative approximation of the Paleocene- Eocene deposit geometry by following their lateral evolution. To give more details, seismic reflection profiles were interpreted in the second step. The Paleocene-Eocene formations were associated with their corresponding reflectors on the closest seismic profile using the relation of time and depth in petroleum wells. Analysis of lithostratigraphic correlations shows notable variations in the Paleocene-Eocene series thickness and depth. Seismic profile interpretation explains these variations by highlighting different buried tectonic features. The results confrontation reveals that the phosphatic deposit geometry in the Jerid area is mainly influenced by the (1) emergence of the Saharan platform and the Chott northern chain since the Late Cretaceous, (2) syn-sedimentary normal activity of E-W and NE-SW faults during the Paleocene-Eocene epoch, (3) reverse-reactivation of these faults, and (4) major Tortonian folding phase. This study can enormously enhance the Jerid area socio-economic development by presenting useful findings that may orientate the phosphate exploration.

Aug 15, 2021

By William A. Riggs

Salt, a non-metallic mineral whose use dates back to earliest history of mankind, and whose uses cover the widest range for any mineral raw material, is generally of widespread occurrence in commercially recoverable quantities in the oceans, in certain sedimentary rocks, in certain lakes, and in certain underground waters. Passing over geological detail, it may be said that, generally, all of the salt in the world has, at least once in geological history, been in solution in the oceans. The total salt content of today's oceans, said to equal 4.5 million cubic miles of rock salt, dwarfs the tremendous volume of salt in the sedimentary rocks. In 1958, United States production of salt was about 22 million net tons and world production about 82 million. About 3 percent of United States production is table salt, with chemical, municipal, industrial and agricultural uses taking the remainder. Mississippi River. Figure 1 has been expanded sufficiently to show also those salt occurrences and producing points which might economically ship salt into these states. Although widespread in occurrence, salt deposits and possible production areas generally show very sharp local boundaries. Salt-for non-table use is susceptible to ?place value?, a common problem in low valued raw materials, where transportation costs often exceed the value of the material f.o.b. the production point. Generally only large capacity mechanized salt producing operations can compete in United States markets, as contrasted to the many small local salt evaporators in less industrialized Mexico.

Jan 1, 1962

By J. F. Childs

Montana consists of an Archean crystalline basement overlain by Proterozoic through Cenozoic sedimentary rocks. Igneous rocks range in age from Archean to Pleistocene; the most voluminous magmatism and volcanism occurred during the Late Cretaceous and early Tertiary. The state can be divided into three tectonic provinces whose deformational styles are a function of different bedrock responses to Late Cretaceous-early Eocene compressional tectonism. Several long-lived structural zones have been periodically reactivated since the Precambrian, and were the sites of recurrent magmatism. Regional gold distributions are strongly influenced by the tectonic provinces and structural zones. Lode gold systems in Montana occur in diverse geologic settings resulting from a complex interaction between structure, magmatism, and sedimentary depositional processes. Reserves or resources are known for 19 significant lode gold systems, and additional unannounced discoveries have been made recently. Mineralization ranges in age from Archean to Tertiary. The influence of long-lived structures is apparent at both the regional and deposit scale, and in some cases multiple mineralizing events have been superimposed upon one another. Most Montana gold systems have a direct spatial and genetic association with Late Cretaceous through Oligocene igneous rocks. However, the importance of sedimentary rocks and associated depositional processes should not be underestimated.

Jan 1, 1993

By Haydn H. Murray

This paper presents the results of test work performed with a Pacific Electric Motors (PEM) high intensity magnetic separator (20 kilogauss) , a unit capable of separating weakly, as well as strongly, magnetic minerals in the particle size range of sands to clays. Tests were performed on some 40 industrial minerals. With some minerals excellent separations were attained and with others intermediate and poor separations were accomplished. This study is a preliminary survey and many of the intermediate and poor results can be improved as separation problems are worked out with additional test work. It is demonstrated that with a number of industrial minerals high intensity magnetic separation is a viable beneficiation technique that is economic ally feasible.

Jan 1, 1976

By W. W. Mason

The United States began exporting coal in the late 1800'5, at first in very small quantities to Canada and beginning in 1897 and 1896, to the east coast of South America. Shipments to European countries began on a very limited basis in 1902 and these shipments increased gradually until World War One when shipments overseas increased from the 8 million tons per year level to 22 million tons. After the war exports dropped as fast as they had increased and, with the exception of exports to Canada, remained at very low levels until just after World War 11 when the United States again emerged as a major coal exporter. World War II left the coal industries of Europe in ruin. As the United States was the only country able to supply the large quantities of coal at reasonable prices needed for reconstruction of the European economy, the U. S. coal exports overseas expanded rapidly to 42.5 million tons in 1947. Additionally, we shipped 25 -2 million tons of coal to Canada In that year for a total export of 68.7 million tons. Unfortunately, that level was not reached again until 1957 when exports reached an all-time high of 76 .4 million tons- -a high I might add that has not been reached since.

Jan 1, 1980

By L. Barnewold, A. Merchiers, M. Pütz, P. Jeschke, M. Dammers

The mining industry faces many difficult challenges, for example, lower ore grades, smaller and deeper deposits, and longer transportation distances. In the past, there have been remarkable innovations in both equipment and the types of mining methods for which it is used, which have resulted in economies of scale. This has led to an increased use of bulk mining methods, like sublevel and block caving, which has increased productivity and reduced costs. Haulage alone plays a major role. Current haulage techniques are a significant cost driver, which account for between 15 and 30% of the overall capital investment (capex) in a mine and are an increasingly part of the operating costs (opex). The paper introduces a simulation tool of main haulage system in underground mining. Therefore, performances and the costs of the three most common underground main haulage systems, rail, truck, and conveyor, are calculated using a developed modeling tool. The tool was applied and validated in a case study carried out with the LKAB Kiruna Mine in northern Sweden.

By R. W. Lake

The decision to develop an ore body can lead to multi-million dollar profits, or equally substantial losses. Accordingly, the effort required to adapt a valuation model to the specific proposal at hand, or even the development of a new model from basic principles, is clearly warranted. In the formulation of a model of this nature, one is faced with some major questions. For example, with the long term obligations that it implies, on what basis should a decision to initiate mining operations be made? Furthermore, how can the vagaries of inflation and the uncertainties that shroud the future be accommodated? Beyond the general principles by which mineral deposits are evaluated, specific cost behaviour is a function of the geology of the deposit, and of the mine design. Moreover, mine design, during the life of the mine, must be a continuing process somewhat akin to dynamic programming. An initial, apparently optimal, design is selected and mining commences. With production, a continual process of information updating leads to revisions. Thus if the maximum value is to be obtained, the mine design must be adjusted to conform to the changed conditions.

Jan 1, 1977