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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 S. J. Schatzel, J. D. Addis, V. Gangrade, L. L. Chasko, C. A. Hollerich

A ventilation study using tracer gas was conducted at a western US coal mine. The objective of the study was to evaluate the movement of longwall face air exchanges between the face and worked-out area and to document the presence or absence of face airflow pathways between these locations. The mine operator uses a bleederless longwall ventilation system with a back return and a blowing mine ventilation system. The study was conducted on an active panel and included both underground and surface monitoring sites. The study used sulfur hexafluoride (SF6) released as a slug on the longwall face and in the front of the gob inby the face. The velocity of the tracer gas movement in the gob was 0.019 m/s (3.7 fpm). The rate of movement for the overall tracer gas slug averaged about 0.0091 m/s (1.8 fpm). A separate tracer gas test initiated with the release of SF6 into the legs of the first shield showed the existence of more than one pathway of face air in the general direction from the headgate towards the tailgate corner. Maintaining adequate ventilation air on longwall faces is important for worker safety and for the dilution of methane emitted from the face and caved gob. A more detailed characterization of longwall system air and gas movement allows a mine to better assess its ventilation design for controlling gas on the face and in the gob.

By V. Rajagopal

Corrosion and abrasion properties of a series of chromium-containing cast iron balls with Cr contents ranging from 0 to 29% was evaluated and compared with austenitic stainless steel and mild steel balls. Marked ball wear tests were performed on artificial ore samples consisting of 95% quartzite with either 5% pyrrhotite or 5% chalcopyrite under a nitrogen or oxygen atmosphere. The electrochemical mechanism was investigated by correlating the corrosive wear with the corrosion currents obtained from potentiodynamic polarization curves under abrasion. An offset in their electrochemical activities was observed somewhere between 16 and 26% Cr. In fact, 26 and 29% Cr cast irons showed an excellent corrosion resistance approaching that of austenitic stainless steel. Flotation recoveries were estimated on a 95% quartzite + 5% pyrrhotite sample ground with various cast iron ball materials under an oxygen or nitrogen atmosphere. Electrochemical results are found to be in good agreement with corrosive wear obtained from marked ball wear test and with flotation results.

Jan 1, 1991

By Larry DeGraff

With the increase of new mine development in the past several years, many coal mines have decided to self- perform the design and construction for their slope development projects. The development process of determining the proper configuration is challenging, and a major economical consideration. Greenbrier Smokeless Minerals engineering staff and consultants, along with DSI/American Commercial, developed a support configuration that was best suited for their slope. The developmental process took into consideration the length of slope, depth of slope at the high-wall transition, economics of a single or multiple entries, waterproofing, stresses on the steel supports and lagging during the backfilling operation. This paper describes the developmental concept of using a single entry, side by side configuration, using steel ?Banjo String? supports with steel plank lagging, to develop a long term permanent installation in a cut and cover application.

Jan 1, 2009

Abbey, Robert Graham, District Mgr., The W. W. Sly Mfg. Co., 50 Church St., New York, N. Y. '21 Abbott, A. N Ave. Morelos 84, Cuernavaca, Morelos, Mexico '23 Abbott, Argyle Campbell, Geol 42 Everett St., Arlington, Mass. '29 Abbott, Clarence E., V.P., Charge of Raw Materials, Tenn. Coal, Iron & R. R. Co., 1242 Brown-Marx Bldg., Birmingham, Ala. '04 Abbott, Louis Benjamin, Chief Engr., Consolidation Coal Co., Watson Bldg., Fairmont, W. Va. '15 Abeel, George H., Jr., Cons. Min. Engr 1281/2 S. Canon Dr., Beverly Hills, Cal. '18 Abel, Raymond L., Asst. Prof., Dept. of Pet. Refin., Univ. of Pittsburgh. .Pittsburgh, Pa. '28 Abel, Walter D., Cons. Engr 650 S. Grand Ave., Los Angeles, Cal. '82 Abele, Louis T., Min. & Met. Engr., Supt., Texas Hill Mine Coulterville, Cal. '31 Abell, Leo M. Millicent, S. Australia '31 Abernathy, George Elmer, Prof. of Geol. & Min., Kansas State Teachers College, Pittsburg, Kan. '20 Aborn, Robert H., Research Lab., U. S. Steel Corp. Lincoln Highway, Kearny, N. J. '19 Abozeid, Mahmood, Dept. of Mines & Quarries Cairo, Egypt '26

Jan 1, 1932

By D. Komljenovic, V. Kecojevic

Selection of the best possible truck type (model) is of crucial importance for the mine decision-makers. In this paper, authors contribute to the body of knowledge by developing a novel methodology for the selection of mining truck. Both the Coefficient of Technical Level (CTL) and Analytic Hierarchy Process (AHP) methods were used in this study. The CTL represents a mathematical function which takes into consideration the interrelations among the main technical parameters of mining trucks. The authors developed a hierarchical structure where both attribute categories and their importance, i.e. priority or weight in the selection process were determined. For each category, a number of sub-attributes and their priorities were assigned, and a pairwise comparison among them was performed using the AHP method. In the final part of the study, the CTL was integrated into the AHP and represents a holistic approach in the selection of mining trucks. A case study on 180 tonnes truck category offered by five manufacturers was carried out. A sensitivity study of obtained results was also performed indicating a very stable solution. The methodology presented in this paper may be used by mining operators to help in the selection of a specific type when acquiring a new truck. It may also be used by equipment manufacturers to help in analysis of potential benefits of envisaged modifications concerning an existing truck type and/or development of a new type.

Jan 1, 2007

By Kathryn C. Sole, Owen Tinkler

"Although the first large-scale application of copper recovery by solvent extraction (SX) took place in Zambia in the early 1970s, it is only in the last decade that this technology has become widely employed in this part of the world and is now a mainstay unit operation in most copper hydrometallurgical flowsheets. The mineralogy of the ores in the African Copper Belt, and hence the characteristics of the African leach liquors, differ significantly from those in Chile and the south-western USA, where copper SX has had a long and successful history. These differences provide operators, metallurgists, reagent vendors and engineers with many challenges: new approaches are needed to adapt this technology for successful implementation in this region. This paper examines typical operating practice in the African Copper Belt, discusses differences compared with other parts of the world and looks at some of the challenges and opportunities presented by these flowsheets. INTRODUCTION Following the success of the Rancher’s Bluebird and Bagdad solvent extraction and electrowinning (SX–EW) operations in Arizona in the late 1960s, the Tailings Leach Plant at Chingola, Zambia became the first large-scale copper SX plant in the world, commissioned in 1974. Despite the equipment design now being outdated, this plant still continues to operate successfully, indicating the versatility and adaptability of this technology. Today, there are some 75 copper SX operations worldwide with cathode production above 10 kt/a. The top ten producers currently account for some 40% of the global 4.3 Mt/a SX–EW copper production. South America (predominantly Chile and Peru) is the largest copper cathode-producing region, with annual production of some 2 Mt. The Central African Copper Belt (Zambia and the Democratic Republic of Congo (DRC)) is second, with cathode production of 1.2 Mt/a and North America (USA and Mexico) third, producing close to 0.8 Mt/a Cu (Cytec data, 2014). The remaining 0.35 Mt/a comes from all other regions combined (referred to as “Rest-of-World”). Current and future operations in Zambia and the DRC are summarised in Figure 1. The industry in this region is characterised by a large number of small (3 to 20 kt/a) plants, mainly Chinese-owned, and a few very large (>200 kt/a) operations, owned by major multinational corporations. This paper examines typical operating practice in the African Copper Belt, discusses the differences compared with other parts of the world and looks at some of the challenges presented by the conditions, as well as innovations in flowsheets, reagents and operating conditions that have been introduced in these circuits."

Jan 1, 2015

By C. Alexander

Stillwater Mining Company is developing a second underground palladium and platinum mine approximately 21 km (13 miles) west of their existing Nye operation in south central Montana. A 5650 meter (18,550-foot) tunnel is required to gain access to the ore bearing horizon (J-M Reef). Access and primary mine development can be accelerated through the use of two 4.6 meter (15-foot) diameter tunnel boring machines (TBM). One TBM was purchased new while the other was purchased used. Machine specifications, site support facilities, portal/launch chamber construction, TBM assembly, startup and operation are discussed in this paper.

Jan 1, 1999

By Larissa Carolina Ferreira

O impacto das atividades do setor de mineração sobre o meio ambiente tem levado a estudos visando, tanto à utilização racional dos recursos naturais, quanto o tratamento de efluentes gerados durante os processos. A caracterização de efluentes é uma etapa importante, podendo apontar erros nos processos de beneficiamento, parâmetros em desacordo com a legislação ambiental e guiar etapas de desenvolvimento de técnicas do tratamento. Este trabalho consiste na caracterização de um efluente da etapa filtragem de uma mineradora de minério de ferro do quadrilátero ferrífero comparando os valores encontrados com as exigências da norma CONAMA 357/2005 e 430/2011, de forma a enquadrá-los na categoria de águas doces classe 1 e de lançamento de efluentes. O pH encontrado (9,8), turbidez (2133 NTU) e sólidos sedimentáveis (28mL/L), estão fora dos padrões permitidos e mostram grandes problemas em relação aos sólidos presentes na amostra. O diâmetro médio das partículas (8,54µm), indicou a predominância de partículas ultrafinas de difícil sedimentação. Os elementos majoritários Al, Fe, P e S, 0,296; 1,6; 0,218 e 26,5 mg/L, respectivamente, também apresentaram valores acima do permitido para água doce classe I. As análises indicaram que o efluente necessita de tratamento prévio para posterior descarte.

Aug 16, 2017

By C Maloloy-on, S Morgan, M Deiparine, H Mackie

There is a strong focus in the mining industry to limit its impact on water quality and usage. This is even more evident in developing countries, where mining companies operate within local communities and have to be diligent not to affect them negatively. In mineral processing operations, the vast majority of water reclamation occurs at the tailings thickener area and tailings storage dam. It is often more effective to maximise water recovery at the tailings thickener before material transport to the tailings dam. Tailing dams are relatively inefficient, and experience a high degree of water loss due to evaporation, seepage and water retention. In addition, tailings dams present the biggest environmental liability for mineral resource projects, so it is beneficial to limit their size and loading.In the past, it was common for tailings thickener areas to have a significant footprint with several large diameter conventional thickeners, producing underflows of between 45-55% solids (w/w). At times, these multiple thickeners were difficult to operate, leading to inefficiencies in water recovery and quality. The development of High-Rate Thickeners (HRT) has resulted in improved settling properties and HRTs usually operate at significantly higher solids loadings (= 1.2 t/m2.h) when compared to conventional thickeners (= 0.1 t/m2.h). Subsequently, thickener diameters have reduced in size and HRT technology has become the preferred option for thickener circuit design in both new and existing operations. HRTs also produce higher water recoveries with increased underflow densities = 55% solids (w/w).The Carmen Copper Corporation (“Carmen Copper”) circuit upgrade is a recent example of these HRT benefits, where one, 39 m diameter, Outotec HRT treats the solids flow rate of five 76 m diameter conventional thickeners. This has allowed operations to increase dry plant tonnage by 50%, maintain key performance targets and provide a framework for further plant expansion. This paper details the sustainable approach to the Carmen Copper tailings thickener upgrade, where metallurgical performance, cost-effectiveness and environmental impact were key considerations.CITATION:Morgan, S, Mackie, H, Maloloy-on, C and Deiparine, M, 2015. Carmen Copper – a sustainable approach to tailings thickener upgrades, in Proceedings MetPlant 2015, pp 416–430 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

By Hugh M. Wolfin

This Information Circular is an abstract of a manuscript which was completed in June 1933, by Mr. Hugh M. Wolflin, formerly of the U. S. Bur eau of Mines. This abstract has been prepared by Charles Will Wright for presentation at the February meeting of the American Institute of Mining and Metallurgical Engineers in New York. It has been necessary to omit many of the details and most of the cost data and tables, as well as the illustrations in the original manuscript. As the use of airplanes in mining developments is making such progress and as a publication on this subject to be of greatest value should include the most recent information, it is unfortunate that, due to a lack of printing funds, it has not been possible to publish this manuscript. The purposes of Mr. Wolflin's paper are: (1) To describe briefly what has been accomplished in some outstanding examples by the use of aircraft in the mining and petroleum industries, (2) To record costs, (3) To present available information and suggestions to assist in solving future air-transportation problems in the industries under consideration.

Jan 1, 1934

By Sidney Katell

This report covers the period January 1964 through December 1964; it is a continuation of the series that began with the publication of Information Circular 7516 in October 1949. Also, it is the sixth in a series of reports prepared under a cooperative agreement between the Bureau of Mines and the American Association of Cost Engineers. The agreement provides for the publication of an annual cost bibliography with the work load involved in the preparation shared equally. The abstracted articles, concerned with all facers of cost engineering in the field of chemical and petroleum. plants and related subjects, are from the following sources: 1. American Association of Cost Engineers Bulletin. 2. Bureau of Mines Information Circulars. 3. Bureau of Mines Reports of Investigations. 4. Chemical Engineering. 5. Chemical Engineering Progress,

Jan 1, 1965

By V. Prostakova, M. Shevchenko

The copper smelting gas / slag / matte / metal / solids system with the Cu-Fe-Ca-Si-O-S major elements has been a long-term focus of the present overall research program using integrated experimental and modelling approach for the phase equilibria characterisation and development of a thermodynamic database. A systematic investigation of phase equilibria of slag systems in equilibrium with Cu metal is providing information for systems where copper coexists in slag with lead, zinc, and aluminium oxides as major components. Experimental studies involve high-temperature equilibration of synthetic samples; rapid quenching; and measurement of the compositions of equilibrium phases using electron probe X-ray microanalysis (EPMA). Particularly important feature of the present study a wide range of temperatures (660-1670°C) being characterised that reveals major inconsistencies in the existing thermodynamic description of the multicomponent system, and allows to establish the thermodynamic properties from phase equilibria in a reliable way. FactSage-based thermodynamic modelling is integrated with experimental research. Initial thermodynamic assessments are used to identify priorities for experiments, planned to provide specific data for thermodynamic optimisation. Significant improvement in the accuracy of the phase equilibria description is achieved, in particular in the PbO-Cu2O-SiO2, ZnO-Cu2O-SiO2, and Cu2O-CaO- Al2O3 systems in equilibrium with metallic Cu. INTRODUCTION Slags high in lead and copper are generated in primary metal production in the smelting of lead sulfide concentrates and in pyrometallurgical metal recycling systems. The compositions of these slags are varied due to increased fraction of recycled materials in the feed as well as introduction of previously unused chemical elements to modern technology. Therefore, their processing becomes chemically more complex; in that way they contain a large number of different metals. These slags form complex non-ideal solutions (with possible formation of several immiscible slags) that can coexist with stoichiometric solids, solid solutions, mattes and molten metal depending on the bulk composition and process conditions. Predicting the outcomes of smelting and refining processes is becoming increasingly difficult. To assist in the optimisation of these metallurgical processing operations, a comprehensive research program is underway to develop accurate thermodynamic databases for these non-ferrous process systems.

Jan 1, 2019

By Abdul Aziz Hanifah

A novel instrumentation and analysis technique, called GLOSTREXT method has recently been introduced for bored pile load tests in Malaysia. This technique provides an innovative and improved alternative for conventional bored pile instrumentation methods commonly practiced for the past few decades. Results for five case histories involving full scale static load tests for high capacity bored piles with both new and conventional instrumentation details placed in within the same instrumented piles are presented to demonstrate the advantages of this novel technique. Results show good agreement between the new and conventional instrumentation.

Jan 1, 2006

By Deepak Vidyarthi

This paper deals with the significance of Explosive Energy in the optimization of blast design parameters, and the benefits emerging out of it. It is based on the original work done by the author in developing and successfully implementing a site-specific software package on ‘Blast Design Optimization’ at Kudremukh Iron Ore Mine in India with a production level of 22.5 million tonnes of crude ore and off-take of Explosives of approximately 5500 tonnes per annum. The software package has yielded tangible results in effecting reduction in Explosive Consumption, substantial savings in the Cost of Explosive, besides Environmental Improvements by way of attenuation of Blast Induced Ground Vibrations as well as Air-Blasts. By carrying out regular ‘Regression Analysis’, and determination of the Rock Constants, it has been possible to further develop software packages as well as prediction curves for prediction of Peak Particle Velocity, Safe Charge of Explosive, Air-Blasts etc. A model has also been developed for the prediction of ‘Fly Rock’ although at KIOCL, fly rock does not pose any problem.

Jan 1, 2006

Total mechanisation in the Western district of New South Wales is quite a recent addition to productive methods in that State, for it was only in 1940 that the first colliery was equipped for this method of winning coal. Now almost all mines either are totally mechanised or are planning to get their coal by these means.This marked change in recent years is explained by the salient features of the industry's history. Collieries in New South Wales had generally been subjected to low selling prices forced on them by over-production and severe competition. Little money was available out of profits to purchase machinery, and returns on capital were so poor that inducement to invest money in the industry was nonexistent.The second world war brought price fixing at the already low prices. It was not until the post-war period that there has been any inducement to mechanise.Much credit for mechanisation can be given to the Joint Coal Board, a government body formed in 1948. Pursuing a broad plan for the rejuvenation of the industry, this Board, purchased large quantities of machinery for use in, mines under hire-purchase agreement. These agreements encouraged machine mining, and this fact, together with the ensuing production economies, has improved the financial position of the industry.The Board has also been instrumental in the granting of increases in the fixed price of coal, so that the industry has been given an even greater boost in the direction of mechanisation.

Jan 1, 1954

By C. E. Gregory

In terms of a Research Proposals supported by a Grant Agreement dated 30 June 1973, the author was commissioned to prepare an annotated bibliography of mine fires. The main objective was to conduct a comprehensive program of library research and search of official files to prepare a list of articles dealing with actual occurrences of mine fires. This bibliography as now completed includes an annotated reference from each article or report cited, underlining the cause, extent, methods used, procedural errors made, results achieved, ventilation effects, and lessons learned from the operation of subduing the particular fire.

Jan 1, 1974

By Sidney Katell

This report covers the period January 1964 through December 1964; it is a continuation of the series that began with the publication of Information Circular 7516 in October 1949. Also, it is the sixth in a series of reports prepared under a cooperative agreement between the Bureau of Mines and the American Association of Cost Engineers. The agreement provides for the publication of an annual cost bibliography with the work load involved in the preparation shared equally. The abstracted articles, concerned with all facers of cost engineering in the field of chemical and petroleum. plants and related subjects, are from the following sources:

Jan 1, 1965

By J. Chelsey Dawson

In presenting a thesis on this subject it is advisable to explain a few of the reasons for its seeming incompleteness. World progress has brought us to a position where approximations are not only to be condoned, but regarded as absolute essentials. Production in anticipation of demand is always accompanied by mistakes on the part of the producers. Only through trial and sometimes erring hypotheses may there be evolved the true course and theory upon which the steady triumphant march of world-wide industry depends. The average person likes to have everything placed ?before him in a clear and convincing manner. It is the impossibility of doing this which, in many cases, arises to confound the writer on shales. All that one can do is to present, as lucidly as possible, the known hypotheses' and theories on the subject and leave the reader to study and work out the truth for himself. Many theories have been advanced on the origin of oil-shales ; some may be correct in certain instances and not in others; however, the writer will attempt no decision as to which are and which are not correct, but .will merely point out the relative merits of each. The figures given for reserves of oil and shale in different countries are only approximations and give but a rough idea of the true conditions.

Jan 1, 1925

"In mining operations, it is widely accepted that strategies to drive operational goals must revolve around improving plant availability, reliability and process efficiency. In this paper, an integrated solution framework for reducing process variability, increasing process efficiencies and maximizing plant availability and reliability is discussed within the context of a typical milling circuit. The framework exploits a real-time analysis “gap” evident in production operations that prevents timeous identification of equipment and process failures. This is achieved by leveraging predictive analytics for equipment health monitoring, control loop monitoring and advanced regulatory control solutions towards enhanced process performance, improved asset management and regulatory compliance. The framework provides for early and actionable warnings on equipment and process degradation using real-time operational data.INTRODUCTION The changing landscape of gold mining and processing presents many challenges that threaten sustainability of existing (marginal) operations as well as deter investment in new projects. As existing “shallow” ore resources become depleted, mining operations are increasingly treating low-grade ores with complex and randomly variable mineralogical characteristics. For example, in South Africa, historically one of the major gold producers, the average grade of ore treated has been decreasing from averages above 4.5 – 5 g/t to current grades averaging less than 3 g/t within a decade (Chamber of Mines, 2012). Moreover, lower tonnages are being treated as a result of the narrowing of the available resource base. Also, the regulatory framework has tightened over the years due to heightened concerns on the safety, health and environmental impacts of mining and related activities."

Jan 1, 2014