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By Daniel T. Brian, O&apos

Exploration targets and results in the mining industry are commonly summarized in terms of tonnage and grade. Business appraisals require, as additional information, the expected profit or loss implied by the physical summay. The early incorporation of knowledge gained through financial analysis computations can provide a means for economically resolving many common exploration and development problems. Examples of such applications from the activities of exploration planning, reconnaissance, land acquisition, and development planning are presented. While prospecting for mineral deposits, geologists are frequently asked what they hope to find or have found. The response is usually descriptive, such as "50 million tons of 1% copper," and the economic implications are deferred until a capital investment decision is required. At that time, a financial analysis integrating the four analysis components is completed. These components are: 1) Tonnage and Average grade above cutoff grade 2) Capital and operating costs 3) Product value 4) Appropriate profit or loss accounting Close examination of these components reveals that there is no intrinsic reason for avoiding financial analyses at earlier stages in exploration, as long as the uncertainty of the estimate is realized. Tonnage and average grades are commonly estimated at early stages in exploration. For this component, the appropriate cutoff is the major uncertainty. Capital and operating costs are difficult to estimate before detailed quantitative information is available, but estimates useful for the types of applications pertinent to earlier exploration stages are possible. Product value estimates may or may not be difficult, depending on the pricing structure of the particular commodity. A simplified accounting procedure usually may be adopted without introducing any significant loss of validity. This paper describe some of the financial analysis applications which are pertinent during mineral exploration and deposit development. These applications lend additional insight during exploration planning, land acquisition, physical exploration, and development. The examples are oriented toward a hypothetical management investment policy which is based on a single criterion, a minimum 15% discounted cash flow rate of return. In reality, managements use multiple criteria. This simplification is convenient for purposes of presentation and does not invalidate the examples. Computers are useful, but not a requirement, for the applications described. The use of computers provides the results on a more timely basis at costs lower than equivalent manual computations. UNDERLYING PRINCIPLES AND ANALYSIS METHODS Data estimates are subject to uncertainty. The analyst may choose to assess this uncertainty by using one of two principles. Each principle has some advantages. The principle most commonly employed is "assumed certainty." Each financial analysis is based on one set of selected data, which may represent the average estimates, minimum expected conditions, etc. The critical data is identified by making successive calculations, varying the values used. Such studies, called sensitivity analyses, isolate the economic effect of various uncertainties, and guide the allocation of future efforts toward improving the overall accuracy of the analysis. A second principle, "assumed risk," examines the interactive effect of the current uncertainties by qualitatively assigning probability distributions to each data element. These probability distributions indicate the currently appraised chance that a given numerical value will prove to be true. The corresponding procedure, risk analysis, consists of processing many individual financial analyses, each analysis being based on randomly selected numerical values from the probabilistic distributions. The result is a numerical presentation of the uncertainty, but care must be exercised in the interpretation of results. The advantage of this procedure is the direct measurement of economic uncertainty caused by the interaction of uncertain estimates. Kennecott Copper Corp. has developed computer systems for accomplishing sensitivity and risk analyses.

Jan 1, 1970

By Michael Harris, David Mosch

The numerous small high grade gold and silver deposits of the Front Range Mineral Belt have been uneconomical because of the high costs of mill construction, transportation, and smeltering. Processing of these ores must be simple, cheap, with satisfactory recoveries, and be environmentally acceptable. Vat leach with direct electrolytic recovery satisfies these parameters. A battery of testing was conducted utilizing bottle and bucket tests. A five ton vat leach with direct electrolytic recovery gave excellent results while a five ton heap leach proved impractical due to channeling.

Jan 1, 1987

By D. A. Paice

Direct current electrical systems are used in most coal mines primarily to power the main haulage trains and secondarily to feed other equipment and passageway lighting. Electrical power is supplied from rotary machines or static rectifier equipment and is distributed through the mine by open trolley wires and feeder cables. The rails of the haulageway are used as a current return path. This exposed power distribution system is very vulnerable to conditions which lead to undesired leakage currents and short circuits and, consequently, the possibility of fires or other hazards to personnel. Present techniques and equipment have been utilized in so far as practical to improve the safety of the dc electrical system; however, there still appears a need for further improvement. Because of this need, this program was sponsored by the Bureau of Mines to investigate two specific technical areas related to improvement of dc electrical system safety. One area included the determination of the characteristics of mine electrical systems and their protection requirements and the verification of the adequacy of available protective devices for mine service. Despite the widespread application of industrial protective equipment in mines, there was little detailed technical information available related specifically to the performance of this equipment in service. Our task was not only to develop useful information regarding mine system protection, but also to define and verify the adequacy of the protective devices available. The second area of investigation called for development of a practical technique for detecting low level electrical fault or leakage currents. Conventional protective devices

Jan 1, 2012

By A. W. Stradling, M. J. Fairweather

"The selective flotation of lead, zinc and iron sulphide minerals is key to the economic performance of concentrators treating zinc-lead ores. Diagnostic metallurgy is a tool to quantify mineral behaviour as a function of particle size and liberation. The result of such analysis may be used to select preferred strategies to improve metallurgical performance. The zinc flotation circuits at three Teck Cominco operations: Sullivan, Polaris and Red Dog are compared here. This paper analyses operating data from each of these circuits. The effects of mineralogy and performance by particle size are emphasized. Metallurgical performance at these three concentrators varies substantially. Liberation size is the major factor in determining metallurgical performance. Complex mineralogy requires a fine grind to achieve effective liberation. Fine grinding results in offsetting decreases in concentrate grade through entrainment. The economic treatment of complex fine-grained deposits requires optimisation of regrind size for liberation without unduly compromising concentrate grade through gangue entrainment.INTRODUCTIONUntil recently Teck Cominco Metals Ltd. operated three mines treating zinc-lead ore. In order of increasing mineralogical complexity they are: the Polaris Mine on Little Cornwallis Island in Nunavut in the eastern Arctic, the Sullivan Mine in southeastern British Columbia and the Red Dog Mine in northwestern Alaska. Both the Polaris and Sullivan Mines have recently ceased to operate due to depletion of ore reserves.The ore type and associated gangue, mineralogy and iron solid solution vary significantly between these deposits. Table 1 summarizes some of the important differences"

Jan 1, 2003

By D N. B Skinner, R L. Brathwaite, M S. Rattenbury

The Institute of Geological and Nuclear Sciences Ltd has carried out a mineral resource assessment of the Coromandel region, one of the most mineral-rich regions of New Zealand. The assessment focussed on metallic minerals and clays, because these are the main commodities that have potential for increased production and export from the region (and from New Zealand).   Three steps were used in the assessment: 1) development of mineral deposit models, 2) comparison of the models with regional geology, structure, geochemistry and past mineral production to estimate the number of undiscovered mineral deposits, and 3) application of grade-tonnage models to determine the quantity and value of the known and undiscovered resources. In step 1, descriptive and grade-tonnage mineral deposit models were developed for 11 different types of mineral deposits: ò     Low-sulphidation andesite-hosted epithermal Au-Ag ò     Low-sulphidation rhyolite-hosted epithermal Au-Ag ò     High-sulphidation quartz-alunite epithermal Au ò     Porphyry Cu-Au-Mo ò     Andesite-hosted polymetallic veins adjacent to mineralised porphyry stocks ò     Zn-Pb-Ag skarn ò     Cu-Ag skarn ò     Hot spring Hg ò     Shoreline placer Ti ò     Rhyolite-hosted halloysite clay ò     Volcanic-related kaolinite clay   Step 2 was aided by a geographic information system (GIS) assembled from a number of digital spatial data sets including: a digital elevation model, an aeromagnetic map (from open file mining company data), a geological map (from the GNS QMAP project), location of areas of hydrothermal alteration, locations of mineral deposits (from the GERM database), stream sediment geochemical analyses (from the REGCHEM database), and a lineament map derived from satellite remote sensing data and the digital elevation model.   Based on May 2001 commodity prices, potential resources estimated for the 11 mineral deposit and grade-tonnage models total NZ$22 806 million for the metallic minerals, NZ$1000 million for halloysite clay deposits and NZ$57 million for kaolinite clay deposits.

Jan 1, 2001

By C. N. Harman

Steel is the most versatile material which has made the progress in every aspect on this earth possible. There are hundreds of varieties of steel because for each application it has to be made with specific properties to get the most optimum usage. It is well known that the basic constituent of steel is iron. But it is the proportion of other elements in it, which give each type of steel certain specific properties. These elements are added in liquid iron inform of Ferro alloys to get the desired composition and properties. Thus, Ferro alloys are important additives in the production of steel. It can be said that no steel can be made without use of one or more of the several Ferro alloys. They form the backbone of steel. Thus, the Ferro alloys industry is vitally linked for its growth and development to that of the steel industry. Ferro alloys industry in India has never been globally competitive, despite its rich ore deposits and low-cost manpower, essentially due to a) Insufficient availability and high cost of electric power b) Increasing ores and reductants cost c) Non-availability of low ash, low phos. coking coal in the country for the production of desired coke with low ash, and low phos. contents, making import of such coke at a high cost imperative d) High-cost and insufficient infrastructural facilities (both road and rail) for rapid transportation of ore from mines to plants e)Stiff competition from producers and exporters of Ferro alloys in other countries like South Africa, Kazakhstan, China, Russia, Australia etc. due to global trade agreement which has made drastic reduction in customs duty on imports necessary. f) Wide fluctuations in the International price of Ferro alloys depending on demand versus supply. To over come these challenges plus adhering to stringent pollution control norms innovations are inevitable in the process technology, and plant equipment design, along with frequent changes in product mix, to be more cost-effective. An attempt is made in this paper to address the innovations that took place in the past and those that further need to be made, considering the future of this industry.

Jan 1, 2007

By J. M. Jimenez, G. D. Schena, A. J. Cazorla

A full-scale Deister column was operated in parallel with the conventional cleaning bank of cells and a pilot Jameson cell in parallel with the conventional rougher cells. Flotation column performance was appreciably enhanced by use of an improved washing system and an internal launder. The performance of the rougher bank of cells, Jameson cells, cleaner cell bank and column were described by simple linear functions. These allowed calculation of overall circuit recoveries and evaluation of alternative circuits. An evaluation procedure based on a financial criterion is demonstrated with a simplified example, illustrating how revenues and operating margins are often of more concern than concentrate grade and recovery

Jun 18, 1905

By Rodrigo Peroni, Euler Victoria

Knowing the depth of contacts between weathering zones in phosphate mines is determinant to define the stripping ratios and the mineralized zones. Contacts are gradational and difficult to define even in the drillhole samples, so the combination with geostatistical simulation techniques helps to define the contact zone and the grade distribution, providing a way to assess the probability of the occurrence and the positioning of contacts between the barren waste and the ore zones. These inputs are used in the scheduling, anticipating risks associated with mine planning scenarios. The results from an application to a case study showed a good improvement when compared to traditional techniques.

Jun 25, 2023

By C. M. K. Boldt

The Bureau of Mines studied the compaction characteristics of metal and nonmetal tailings. Densities of the tailings and zone of compaction influence, compactive effort, and cost of equipment are related to changes in the factor of safety for specific grain-sized tailings and embankment configurations. Field testing was accomplished in two distinct phases. The first phase investigated the effectiveness of using a nuclear gauge on metal and nonmetal tailings to produce rapid, instantaneous measurements of moisture content, wet density, and dry density. The results of the nuclear gauge testing are presented in chapter 1. Chapter 2 presents a comparison of the compactive effectiveness of three different pieces of construction equipment on a coarse-grained metal tailings pond. The three pieces of equipment chosen for study were a DBH track-mounted dozer, a DSOO rubber-tired dozer, and a SP848 vibratory smooth-drum compactor.

Jan 1, 1985

By F. W. Horton

This paper covers the salient features of the occurrence and mining of sheet mica in the United States and the preparation of mica for market; presents the results of a study of the physical properties of domestic and foreign micas, which the author hopes may he of interest to every mica user, as it definitely answers many questions as to the suitability of various minas for particular purposes; and discusses mica-trade conditions and the future outlook for the domestic mica industry. ACKNOWLEDGMENTS The author takes pleasure in acknowledging his indebtedness to J. R. Thoenen, of the United Stator Bureau of Mines, under whose guidance the work reported herein was performed, and to Frank L. Hess, also of the Bureau, for information on the geological and mineralogical characteristics of mica-bearing pegmatites.

Jan 1, 1935

By Tyler R. J

Methylene blue dye adsorbs on chalcopyrite concentrates slurried in aqueous solution. Saturation adsorption can be achieved within about 24 hours for dye equilibrium concentrations greater than about 10-5 M. The dsorption coverage is obtained from a measurement of the' colour change of the solution. Comparison with BET measurement of the concentrate surface area shows that 2.4 ± 0.1 µmol of methylene blue are adsorbed per square metre of surface accessible to the dye cation. The procedure described can be used as a single-point measurement and values for the surface area can be otained to within about 10 per cent with inexpensive instrumentation.

Jan 1, 1979

By S. Onuki, T. Ando, M. Tejima, R. Enomoto, Y. Okada

"Al–Si–Cu–Mg die casting alloys are widely used in the automotive industry, and recent advancements in high pressure die casting technology enable heat treating products to achieve desirable properties. However, CO2emissions associated with die-casting production lines should be reduced to address the global warming issue. In this study, the relation between the microstructures and thermal stability of precipitates formed during isothermal aging at 423, 485, and 558 K of Al-11.0 mass%Si-1.8 mass%Cu-0.2 mass% Mg (JIS ADC12) was investigated using Vickers hardness tests and transmission electron microscopy (TEM). The hardness tests and TEM results showed that Si compounds and Al–Cu compounds enhanced the mechanical properties of the alloy and that the predominant compound affecting the mechanical properties differed between specimens treated at 423 K and those treated at 558 K. Moreover, additional aging at 423–458 K resulted in a material with a Vickers hardness higher than that of the isothermally single-aged material. Differential scanning calorimetry, differential elemental analysis, and selected-area diffraction analysis using TEM suggested that the combination of Al–Cu compounds precipitated at low aging temperatures and Si compounds precipitated during preliminary aging increased the mechanical strength, resulting in a maximum hardness of 130 HV.INTRODUCTIONAl–Si–Cu–Mg die casting alloys have well-balanced mechanical properties, machinability, and cast ability. These alloys are therefore widely used in the automotive industry because of their superior characteristics, accounting for>90% of the aluminum used in die casting production. As a substitute for iron-based materials, these alloys have contributed to the development of lightweight vehicles.Dong et al. (2014) reported that the heat treatment of die casting materials is effective for changing their dimensions under high temperatures as a result of the precipitation of solid-solution elements. Recent advancements in high pressure die casting technology have led to the application of heat treatments of Al–Si–Cu–Mg alloy products to reduce fuel consumption and satisfy customer needs. Although attempts to reduce CO2emissions have focused on fuel consumption in cars and fuel efficiency regulations have become increasingly strict in recent years, CO2discharged from production lines should also be reduced without adversely affecting the properties of the product. Heat treatments for artificial aging after solution treatment (T6 treatment) and after casting (T5 treatment) are CO2discharge sources, which together with a holding furnace account for >80 % of the CO2discharged during the casting process."

Jan 1, 2018

By C. P. Moore, G. W. Taylor

Vertically dipping lenses of nickel-copper ore at Dumbarton Mines Limited are being mined by a modified blasthole stoping method. The principal access to the mine is provided by a 15-degree decline, which, in conjunction with the use of ramps and declines for secondary access, maximizes the accessibility and mobility of trackless mining equipment. Sublevels are driven in ore on 80-foot vertical intervals and subsequently the ore, ranging in thickness from 15 to 30 feet, is slashed to its limits by a procedure of face sampling and test holing. Two longhole drill jumbos are used to drill off 40-foot vertical slices above and below these levels. Following blasting, the ore falls by gravity to the 500-foot horizon, where it is removed from drawpoints by load-haul-dump units and transported by truck to the main orepass. The rock is crushed to minus 3-4 inches and conveyed to surface by a 30-inch-wide wire rope suspended conveyor. This is achieved in two flights, a lower one of 290 feet and a main flight of 2260 feet. All aspects of the mining operation are discussed in the paper, including ventilation, services and safety.

Jan 1, 1973

By Lindbeck K

The mining industry in Western Australia is a large sector of the WA economy providing $12 billion (1993) of the export income for the State. Historically, mining in WA developed from traditional prospecting in the late-1880s leading to major underground operations by the turn of the century. Large open pits were developed in WA following World War II and became increasingly common since the gold boom of the 1980s. With the development of the open pits has been concomitant evolution of mining legislation, principally the Mining Acts of 1904 and 1978, which has been also accompanied by a practical evolution of the administrative system within the Department of Minerals and Energy. The mining industry has recognised the need for sound environmental management at mine sites, taking up the challenge and becoming a world leader in rehabilitation techniques. Any environmental management program in the industry has three stages: approval by government; management by the industry; and return to the State in an environmentally acceptable condition. The WA environmental requirements, procedures and industry performance in these three stages are discussed.

Jan 1, 1994

By E. Shekarchi

The mineral industry of Afghanistan improved substantially in 1976 as asbestos production was begun and feasibility studies were made of possible copper and iron and steel industries. The remarkable event of the year was the introduction of Afghanistan's 7-year economic and social development plan which covered the years 2976-82. The 7-year plan established ambitious goals for a gross national product (GNP) annual growth rate of 6.3% during its duration. To achieve this target, large increases in expenditures for economic development were programed in virtually every sector of the economy. Foreign assistance, in particular, was expected to finance a large share of new development projects. The major components of the plan were the development of transportation (highways and railroads), oil and gas exploration, construction of a copper smelter to exploit the copper deposits near Kabul, and development of an iron and steel industry to exploit the rich iron ore deposits in the central part of the country. Exports during the plan period were to continue to be principally agriculture products and natural gas to the U.S.S.R.

Jan 1, 1980

By Nicolae Dobritoiu

The literature in this field and the practical activity record that a method, respectively the technology used for an underground mining work have many components which, in order to be applied, demand that for each of the parameters that describe the environment of the mining work and that influence the chosing of that method and that technology of execution, must have values in an interval well determined. There are situations when one or many parameters of the set of parameters that describe the environment of the mining work, can modify its values, and, as a result, one or more components of the methods or technology cannot be applied anymore, making necessary a replacement of their values. The information offered by this graphical-analytical model allow the determination of optimum solutions for the process of digging of the underground mining work and thus it will result the incresing of the technical-economical efficiency of the digging process and, also the increasing of the quality of the underground mining work.

Oct 1, 2009

By R. D. Corrans

"Abstract - Africa is endowed with a number of the world's giant ore deposits which have contributed significantly to the development of their host countries. Mineral exploration has a long history in the continent, but mining on an unprecedented scale took off during the latter part of the 19th century, accompanied by the development of lines of communication and other infrastructure to service the major mining centres .The ""Winds of Change"" which swept Africa in the 1950s and 1960s brought in new styles of government and economic management to a number of regions, often with demise of economic viability and infrastructure. ln recent years, with the end of the cold war, collapse of communism and changes in South Africa, new opportunities for mineral exploration are opening up rapidly in Africa. However, due to the large cost, long lead-in time, and high risk of developing new mineral ventures in the continent, it is necessary for the host countries to draft realistic and favorable mineral laws and fiscal codes in order to attract, and not deter, potential mineral investors.There will be an on-going role in mineral exploration throughout Africa for the artisanal miner, the smaller entrepreneurs and mining companies, exploration aid programs funded by the developed countries through African governments, as well as the major mining houses who have the resources to develop larger viable mineral deposits."

Jan 1, 1994

A mathematical model of a decision is represented by the table in Figure 4. The numbers in the matrix are a measure of the effectiveness of each alternate for an objective. In this case, it is the per cent of desired profit that is satisfied by each alternate for each objective. By adding all of the values in a row, we have a measure of which alternative is best for both objectives. However, if you think that alternate 1 is necessarily better than alternate 2, you are wrong. Why? Because the weight of the objectives may not be equal. It could just be that this plant can sell more than it can produce, so that the loss in profit represented by increased sales is more than twice as important as reductions in costs. (See Figure 5). In that case, let us weigh objective 1 as 30 per cent and objective 2 as 70 per cent. It must also be obvious that the sum of all the "objective weights" must equal 100 per cent. Now, by evaluating our alternates according to their weights. we find that alternate 2 is better than alternate

Jan 1, 1964

By Charles H. Morgan

THE case of Henry Cort comprises: (1) the nature of Cort's inventions;, (2) their value to England and to mankind,; (3) the remuneration received therefor by him or his family; and (4) the suitable permanent record and recognition of his services by the representatives of the art lie founded-a debt long over-due, and still unpaid. I. CORT'S INVENTIONS. Under this head, it is unnecessary here to enter into details. The facts have been repeatedly published, and a brief outline of them will be sufficient for my present purpose. . Henry Cort, born in 1740 at Lancaster, England, became a navy broker in. London about 1765, and gained from that business in about ten years. something more than £20,000, which lie devoted to perfecting the manufacture of iron, building a mill at Fontley, near Portsmouth, and prosecuting, between 1777 and 1783, the experiments which culminated in .his two patents, one for puddling iron and the other for shaping it by rolling between grooved rolls.: Careful study of the contemporary evidence, including Cort's specifications, the testimony (in act as well as word) of his business rivals, the public declarations of eminent authorities, and the history of the times, leaves no possible doubt that Cort was the real inventor, of

Mar 1, 1905

By Stephen Tadolini

The annulus thickness, for bolts anchored with resin, effects the systems final performance. Recent developments in the manufacturing process of these support systems, coupled with improved resin characteristics, have resulted in design changes to minimize hole drilling requirements and reduce resin usage. The amount of resin to properly anchor a 7/8-SRD (Special Rolled Dimensions) bolt in a 25.4 mm (1-in) diameter hole has been reduced to about one-third of the resin required to anchor a No. 7 rebar bolt (22 mm (7/8-in) diameter) traditionally installed in a 35 mm (1-3/8-in) diameter borehole. More importantly, laboratory and field tests, indicate that higher bond strengths and anchorage capacities can be realized with reduced annulus systems. These factors have a direct bearing on reinforcement efficiency and subsequent roof support performance.

Jan 1, 1998