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The mining industry is generally regarded as a high risk industry, mainly because of the difficulties in estimating the tonnage and grade of mineral resources, the fluctuations in metal prices, mining problems and other problems which occur with mining in offshore and remote locations, such as appropriation or disruption to supply. As a consequence, finance providers require a high reward from mining projects. In the past two decades, the development of "mega" projects has led to the packaging of the finance becoming more sophisticated. Some would see this move as a measure of the evolution of banking rather than an intrinsic facet of mining finance itself. Project financial managers now require a thorough knowledge of all the financial tools which are available and have to be aware of the funding options so that they can put together a finance package which minimises the cost of the financing with the risk spread adequately between the partners of the financing. The different sources and types of finance for mining projects are described herein along with the factors which determine their costs. To understand the ramifications of financing mining projects, it is essential to appreciate the fundamental difference between debt and equity, which illustrates the importance of gearing. Costs of finance are determined by the interaction of supply and demand forces. Bankers and other financiers have become more adept at isolating a wide selection of risk elements and have devised a formidable range of insurance mechanisms. There is still a lot of money looking for good project risks and if a good project is properly presented and structured, financing can be obtained in today's market.

Jan 1, 1990

By Taner Sumer, H Altay Guvenir

Fragmentation in rock quarries is tried to be achieved by changing the specific charge, drill pattern and bore hole diameters by different experts. This paper is a brief summary consisting of the utilization of practical experiences of the other group on cost optimization procedure that takes into account blasting, transportation and crushing as a whole process and optimize the cost by defining the optimum gelatin based explosives to be used as a main primer of anfo in three different limestone and granite quarries, with similar rock characteristics.

Jan 1, 1993

By John Popovich

The MICON RokLok binder system including component and consolidation processes and safety and its first aide are described. The implementation procedures and selection of injection parameters are discussed. Finally a case example of recovering a 30-ft. long roof fall in mainline haulage entry is used to illustrate the economic potential of preventive measures by RokLok injection.

Jan 1, 2001

By Joseph A. Dos Santos

"The subject of this writing was first published in 1998 with the emphasis on the hardware cost comparison. Other costs, such as the required land area and spatial volume, were mentioned but not emphasized, as these were not deemed as important for new projects where the space was appropriated as required. During the last decade, these other costs have proven to be more than equal in importance. These costs are emphasized here through specific accounts of actual highangle conveyor installations that demonstrate the importance and the high-angle advantage An update on the progress in sandwich belt highangleconveyor technology is also provided.Origin and progress in sandwich belt conveyorsCover belts of the 1950s. Large volume, highangle conveying by “conveyors with cover belt, dates back to the early 1950s, when such systems were employed at the bucket wheel excavator boom conveyor in German lignite mines to increase the depth of cut without increasing the boom length. Various systems were developed, patented and built. These systems were not a lasting success for various reasons, which are noted by Rasper[1]. In his 1958 “Review of Cover Belt Systems,” Rasper summarizes the characteristics which are worth pursing and those that should be abandoned. The former are akin to good conveyor engineering. The sandwich belt conveyor model. The first sandwich belt conveyor model allowed calculation of the required hugging pressure to develop the bulk material’s internal friction and preclude material slideback. A modern, accurate version of the sandwich belt conveyor model is presented in Fig. 1. This model depicts accurately a derating of the material cross-section allowing an ample belt edge distance that can tolerate normal belt misalignment without material spillage. The calculations must thus recognize that only part of the hugging pressure is imparted onto the material with the remainder transferred belt edge to belt edge affecting a material seal. Mathematical development of the sandwich belt model is covered by Dos Santos and Frizzell in their 1983 article, “Evolution of Sandwich Belt High Angle Conveyors.”"

Sep 1, 2016

The National Economic Viewpoint? Any substantial project undertaken by private enterprise would normally be subjected to a Discounted Cash Flow analysis of its commercial viability, and would proceed only if the rate of return was judged satisfactory. A 'national viewpoint' analysis attempts to do the same but from the viewpoint of the community as a whole. The objective is to ensure that those projects are undertaken which yield the best return, economic and social, to the nation as a whole.

Jan 1, 1984

By Goutam H. Shahani

Today, the mining and mineral sectors are being impacted by highly fluctuating supply ? demand, extreme price volatility and tremendous market uncertainty on a world-wide basis. This pattern is expected to continue for the foreseeable future. In particular, large consumers of tonnage quantities of industrial gases (oxygen, nitrogen) all have to make informed investment decisions in this uncertain economic environment. Plant owners ? operators need to carefully examine their current and future industrial gas needs in order to develop the most cost-effective industrial gas plant configuration. This can be done by partnering with an experienced engineering company that offers a complete technology portfolio for producing industrial gases. Ideally, the mineral and engineering companies have to work together as a single team to identify the most efficient and economic plant design. This includes an in-depth assessment of capital and operating costs, in order to deliver an optimal solution, taking plant reliability and process safety into account. It is important to consider all the industrial gas needs at a given manufacturing complex, in conjunction with available utilities and infrastructure to develop the best possible long term solution. Oxygen (O2) requirements include: oxygen enriched and oxy-fuel combustion, smelting and hydrometallurgical operations. Nitrogen (N2) is used for annealing. All of these industrial gas requirements have to be examined at a given site over a long term horizon in a holistic manner. Cryogenic air separation was first practiced at a commercial scale in 1902. Since then, the technology has been constantly refined to reduce cost; and improve reliability and flexibility. Today, using advanced engineering techniques, including proprietary process simulation, and modern fabrication techniques, it is possible to build air separation plants that are both low cost and high quality at the same time. It is important to work with an engineering company that owns a complete portfolio of industrial gas technologies, functional engineering capabilities and a variety of plant solutions. Such a partnership can quickly identify a ?sweet spot? for a given situation. By drawing on experience gained from hundreds of projects, it is possible to quickly optimize a given requirement. In situations where a customer wants a complete solution it may be appropriate to provide an air separation plant on a turn-key basis. This will enable the mining and mineral processor to focus on their core business. By using global procurement and construction capabilities it is possible reduce cost and improve project execution, thereby making industrial gas plant procurement simpler and cheaper for the mining and mineral sector.

Nov 1, 2011

Many mining operations are uncertain of what costs they should be achieving. The majority of cost estimates are based on historical costs that have added contingency factors. Historical costs are a valuable source of information but a more precise costing method is necessary. There are several alternative methods for predicting costs. A methodology which provides the best indication of the achievable costs is one using a standard inventory list and a bill of quantities. The model is termed a Basic Principles model and addresses basic design principles and engineering constraints.

Jan 1, 1990

By Calvert D. Iles

Open-pit mines in the US and throughout the world are typically characterized by increasing operating costs and decreasing ore grades. Thus, companies must continue to improve their use of human and technological resources to remain competitive in the marketplace. Duval Corp. has historically been very sensitive to mining costs, in part because of relatively low grade copper-molybdenum ore bodies. These concerns have resulted in three haulage system generations at the 218 kt/d (240,000 stpd) Sierrita-Esperanza open-pit mine south of Tucson, AZ. Each generation has exceeded the performance of the one replaced. The latest system of portable crushers and conveyors reduces hauling costs by combining both hardware and technique. Savings are achieved not only bysubstituting conveyors for haul trucks, but also by permitting the crusher-convey or system to closely follow mining as the pit deepens and/or mining areas change location. The Duval system is capable of easy and inexpensive relocation in varying site configurations in relatively short time periods. Its implementation in active mining areas results in minimum disruption to both the mine operation and mine design. This haulage concept allows the mining engineer maximum freedom to design an open pit for profit rather than for equipment. Maximum savings with a portable system are achieved by minimizing truck haulage costs. At Sierrita, for example, the yearly estimated operating cost savings for each thousand feet of +10% truck ramp replaced by conveyors is about $1 million per portable crusher. A savings of $30 million could be achieved fora three-portable system overa 10 year period simply by reducing the average truck Iiftto the crusher by 30 m (100 ft), There is also the added capital expense of buying trucks to cover the additional 30 m (100 ft) of lift. Relocation costs are an important consideration in a portable system. Direct costs can become a significant operating expense if frequent relocations are necessary to take full advantage of potential haulage cost savings. A site preparation cost of $375,000, for example, would add an additional operating cost of 2.8¢/t(2.5¢/st) for a system handling 13.6 Mt/a (15 million stpy), assuming one move a year, In addition to the direct cost of site preparation, such as installation of retaining walls, apron feeder slots, and equipment pads, there is the cost of site renovation after abandonment. Indirect relocation costs, while less tangible and more dependent on specific mine design and scheduling, can be of significance. A slowdown in the mining rate or a less efficient mining plan can result from a site not being immediately available for mining after abandonment. Conversely, mining in narrow areas can be adversely affected if two or three month lead times are required for site preparation.

Jan 4, 1983

By G. van Eck, H. Smit, L. Meyer

The Cook Islands (CI) possesses within its Exclusive Economic Zone (EEZ) a massive field of polymetallic nodules representing one of the world’s largest undeveloped cobalt deposits, along with large quantities of other metals critical to achieving global energy transition targets. In February of 2022 the Seabed Minerals Authority (SBMA) of the CI granted Moana Minerals a license to conduct our nodule exploration program. This paper describes how Moana Minerals chose to approach conducting exploration activities, one of the greatest challenges to Deep Sea Mining (DSM) development and the securing of the social license to advance to eventual mining of the resources, in an unconventional manner. The remote location of the project poses logistical challenges in mobilizing to and operating in the region and is a significant cost driver. Historically, exploration campaigns mobilized large vessels from mainland Europe, the Americas, and Asia as this model works well when contemplating long duration and widely temporally spaced campaigns without the need to revisit. Moana Minerals, when considering these challenges determined a multi-year deep sea mining (DSM) exploration program conducted in such a remote location can be better optimized by the deployment of a smaller yet highly capable “exploration optimized” vessel that is dedicated to the task and is based full time in the Cook Islands. INTRODUCTION The paper describes the challenges of exploration in remote regions including the South Pacific, and how an unconventional consideration of the problem led to the solution. Completion of an Environmental and Social Impact Assessment begins with a detailed environmental scoping study, resource update sampling requirements, and engineering data and sample requirements, which identifies the exploration goals of the project and technology needed to accomplish those goals. The method walks the reader through vessel and technology selection, discusses the challenges of equipment selection considering size and capability, describes the final arrangement, and provides results from the initial exploration campaigns. We followed the project from conception through the shipyard conversion, mobilization, and initial operations in the Cook Islands. The result shows how a smaller vessel with limited budget makes a large impact on the exploration capabilities in the region while building public trust. The Anuanua Moana is the first dedicated deep sea minerals exploration vessel modified with a suite of technologies that allow it to compete technically with existing ships but operate locally in the smaller ports of the South Pacific. The unique combination of size and technical capability gives the Anuanua Moana advantages over other vessels. This paper shows the importance of the Anuanua Moana in the development of offshore exploration strategies in the emerging deep sea minerals space.

Feb 22, 2026

By B. F. Westfall

Throughout the 1960's and 1970's world trade grew rapidly, reaching a peak of USS1.8 trillion in 1980. Since then the world recession of the early 1980's shrunk trade to about US$1.6 trillion. The reduced cash flow to developing economies made it difficult to service their huge international debts, Nowadays lenders are reluctant to grant Third World countries additional credit. The shortage of export financing, plus trade barriers set up by developed countries, is further inhibiting international trade. Therefore, countries are turning to new and creative alternatives to financing imports of consumer as well as of investment goods. Non-cash transactions, including different forms of countertrade, are rapidly growing alternatives to traditional trade financing patterns. In 1983 about 30% of international trade, or close to US$600 bill ion, were presumably done by non-cash transactions, up from barely 2% in 1976. By year 2000, half the world trade is likely to be conducted on basis of barter. As of mid-1984 some 88 nations used countertrade regularly and Governments of at least 15 Latin American countries had arranged or mandated commercial countertrade.

Jan 1, 1986

U.S. Minerals Coordinating Council Advised. -The Critical Materials Act of 1981, H. R. 4281, introduced on July 27, would create a Council on Critical Materials in the White House Executive Office to oversee Federal materials programs involving $1 billion committed to research by 14 agencies, and to serve as the President's focal point to evaluate materials policy. It was introduced by Congressman Fuqua (D-Fla.) whose Committee on Science and Technology has over-sight over the implementation of P. L. 96-479, the National Materials and Minerals Policy, Research and Development Act of 1980. Bulgaria's Mineral Bank. -Recently Bulgaria established a mineral bank to facilitate receipt of foreign credits for exploiting Bulgaria's mineral raw materials. The bank has wide powers to enter into business arrangements with foreign creditors. Bulgaria's main interest in trading with the West is to import the technology for developing energy and mineral resources.

Jan 1, 1981

U.S. Gold Commission Established. - The President, with the authorization of Congress, has named a gold commission made up of 17 individuals, most of them Government officials, to study U.S. policies related to the role of gold in domestic and international monetary systems and report its findings and recommendations to Congress. U.S. Lead Exposure Ruling. - On June 29, the Supreme Court upheld the Government's right to set lead exposure levels for employees at the workplace. The Court ruled in favor of the Occupational Safety and Health Administration (OSHA) in a challenge by a group that alleged that OSHA had failed to conduct a cost-benefit analysis prior to issuance of the lead standards. It was the Court's contention that Congress did not require such an analysis when it empowered OSHA to establish workplace standards. The petition to the Court was made by the Lead Industries Association Inc., Battery Council International Inc" American Iron and Steel Institute, St. Joe Minerals Corp., and other lead mining and consuming firms.

Jan 1, 1981

By I. Gil, J. -C. Roegiers

Abstract Hydraulic fracturing is a technology that has been utilized for more than 50 years in the oil industry. It was originally used for stimulating hard, brittle formations which typically exhibit low permeabilities and roughly linear elastic behavior. Nonetheless, an increasingly important segment of the industry is currently stimulating very soft and poorly consolidated formations; where the assumptions of ideal elasticity and relatively small fluid leakoff fail to hold (e.g. Gulf of Mexico, West Africa, Alaska, East China). In these rocks, hydraulic fracturing stimulation has been used for several years to control and solve critical production problems such as sanding and formation damage (caused during completion and drilling operations). Although successful1, the application of this method has not been accompanied by robust fracturing modeling techniques. In addition, long term production increases were often not materialized. In other words, engineers have been able, via trial-and-error, to avoid major ‘operational’ problems but with no optimization of such treatments. Thus, most hydraulic fracturing projects carried out in poorly consolidated rocks render unexpected results. A recent worldwide survey on net pressures by the Delft Fracturing Consortium (Papanastasiou, 1997) indicated that net pressures encountered in the field are 50% to 100% higher than the net pressures predicted by conventional fracturing simulators. The difference is yet higher for the case of poorly consolidated formations (Pak, 1997). The theory for the construction of a fully coupled elastoplastic three-dimensional hydrofrac simulator, specifically conceived for unconsolidated rocks, is presented in this paper. This novel model calculates the dimensions and changes in shape of the fracture(s) being created during hydraulic fracturing operations. No assumptions are made regarding either shape or geometry of the crack(s). Three main failure criteria are used simultaneously in this model: tensile and shear stresses, and volumetric strain. Incremental forms of the governing equations of equilibrium and fluid flow are presented. The scheme chosen for solving this problem is the finite elements method, which allows both equations to be solved simultaneously at any instant in time. Résumé La fracturation hydraulique est une technologie qu’a été utilisé pour plus que 50 ans dans l'industrie pétrolière. Elle a été utilisée au début pour stimuler les formations dure et fragile que typiquement ont des perméabilités basses et un comportement élastique à peu près linéaire. Néanmoins, un segment plus important de l'industrie stimule actuellement des formations mal consolidées; où les suppositions d'élasticité idéale et de relativement petite fuite de fluide ne se tiennent pas raison (par exemple le Golfe de Mexique, l'Afrique d'ouest, Alaska, la Chine de l'est). Dans ces roches, la stimulation avec fracturation hydraulique a été utilisée pour plusieurs années pour contrôler et résoudre les problèmes critiques de production comme les dommages de formation et d’ensablement (causé pendant les opérations de l'accomplissement et forage). Bien que prospère, l'application de cette méthode n'a pas été accompagnée de techniques robustes pour le modelage de fractures. En outre, les augmentations à long terme de production n'ont pas été souvent concrétisées. En d'autre termes, les ingénieurs ont pu, via le procès et l’erreur, éviter les majeur problèmes ‘opérationnel’ mais avec aucune optimisation de tels traitements. Ainsi, la plupart des projets de fracturation hydraulique ont été exécuté dans des roches mal consolidées et ont rendu résultat totalement inattendu. Une récente étude mondiale sur les pressions nettes par le Consortium Delft pour Fracturer (Papanastasiou, 1997) a indiqué que les pressions nettes qu’ont été rencontré dans le champ sont environ 50% à 100% plus hautes que les pressions nettes prédites par les simulateurs fracturant conventionnels. La différence est pourtant plus importante pour le cas de formations mal consolidées (Pak, 1997). La théorie de construction d'un simulateur elastoplastic d’hydrofrac à trois dimensions entièrement couplé, en particulier conçu pour les roches non consolidés, est présentée dans ce papier. Ce nouveau modèle calcule les dimensions et les changements dans la forme de(s) fracture(s) étant créé pendant les opérations de fracturation hydraulique. Aucune supposition n’a été faites en ce que concernant la forme ou la géométrie

Jan 1, 2003

By Damon P. Vandermaat

Coupon testing allows for the rapid understanding of a material?s likely behavior in service conditions, allowing engineers and operators to make informed decisions about the likely service-life of parts when subjected to field conditions. Bend testing has been identified as the best approach for exploring rock bolt susceptibility to stress corrosion cracking (SCC) in underground mining. The bend test specimens used were 2?3 mm thick slivers of steel, cut from the outer edge of a rock bolt. For the specimens, 1350 grade steel was chosen due to its wide use in the industry. The jigs themselves are small assemblies made of stainless steel that are capable of imparting a bending load on the specimens. The jigs were installed at a coal mine located in the Western Coals West of Sydney, Australia, in such a way as to expose the test specimen to water dripping from the mine roof. It is expected that this approach will yield results pointing to the likely SCC mechanisms affecting the service life of rock bolts, as well as demonstrate the jigs? usefulness as an early warning system for SCC. Furthermore, the coupon tests will be correlated against the results of large-scale laboratory tests.

Jan 1, 2012

It has been proven theoretically and experimentally that the use of 10 - 30 per cent DRI in blast furnace along with iron ore or sinter results in lower coke rate and higher productivity. However, to-date this remains unpractised on a regular basis mainly because of economic reasons. The DRI produced by several methods are expensive and difficult to store/handle in large quantities because of its reactive nature and thus DRI in blast furnace remains unacceptable.

Jan 1, 1999

By R K. W Merkle, S Madoom Hussain, T Yellappa

Cr-Ni-Cu¦PGE deposits are known to occur in early Archaean mafic-ultramafic rocks. Early Archaean mafic-ultramafic (MUMF) rocks occur in the western Dharwar craton and range in size from small pods to schist belts. These MUMF pods consist mainly of meta-peridotites, tremolite-actinolite schists, serpentinites, amphibolites and metabasalts. Spinifex, nodular and ocelli textures are also present. The rocks have been subjected to greenschist and amphibolite facies metamorphism. Geochemical studies were undertaken to evaluate the possible occurrence of economically important elements in the mafic-ultramafic enclaves around the major Arsikere-Tavarkere lineament and surrounding gneissic terrain adjoining local shear zones that occur as discontinuous pods between Arsikere and Chennagiri. Talc-serpentine and tremolite- actinolite schists contain chromite which is rimmed by ferrit-chromite. A notable feature of these MUMF rocks is that they exhibit high MgO (22 - 40 per cent), total iron (8.34 - 10.01 per cent), Ni and Cr (~3000, 2800 ppm) contents, with some samples showing komatiitic affinity. The rare earth elements (REE) data show slightly fractionated patterns with enriched LREE (LREE/HREE ~5.0) and negative europium anomalies. The Pt and Pd values reach 6500 and 191 ppb. The MUMF rocks, especially those exhibiting high chromium contents and occurring near shear zones, are potential hosts for economic platinum group element (PGE) deposits.

Jan 1, 2008

Lonmin, earlier than any other primary platinum producer, had to deal with the concentrating and smelting of UG2-rich ores and concentrates respectively. Smelting was performed at a fairly modest scale compared to the company's industry peers in the platinum group metals (PGMs) industry, and was focused on smelting concentrates obtained through low mass pulls while still maintaining high recoveries at its concentrators. Lonmin gradually smelted larger quantities of UG2 concentrates. Initially two 2.3 MW Infurnco furnaces were commissioned in 1982, followed by three 5 MW circular 3-electrode Pyromet furnaces in 1991. Deep electrode immersions and moderately high hearth power densities were used in all the designs. Lonmin decided to continue with circular furnace technology when it planned its new high-intensity No. 1 Furnace. Neither Lonmin nor the technology supplier and EPCM company foresaw the challenges that scale-up would bring when applied to the smelting of UG2-rich concentrate blends. Superimposed on the high chromite content, was the low base-metal loading, mineralogical difficulties, and fine particle size that resulted from milling of all concentrates (especially UG2 and recycle materials within the smelter). Through a process of fundamental diagnoses of furnace run-outs and wear patterns observed during repairs, the main challenges operating this high-intensity furnace were identified as sulphur vapour corrosion of the copper coolers, uneven and unpredicted movements of refractory bricks with associated copper cooler lift and matte tapblock movement, the formation of three-phase 'mushy' zones, high refractory and taphole wear rates, uncertainty in matte level and associated insufficient matte buffer height, and high furnace operating temperatures. These factors seldom worked in isolation and will be explored in more detail in the paper. The variability in furnace feed characteristics led Lonmin to redesign Furnace No. 1, to invest in backup furnace capacity, and to invest in improved monitoring and control. These improvements consisted of online and high-frequency off-line monitoring of feed chemistry and mineralogy, online pressure monitoring of water-cooled circuits, an alternative matte liquid level measurement in the furnace, and electrode immersion estimation. Improvements were also made at the converters by installing and utilizing optical spectral analysis of the converter flame to characterize converter behaviour and achieve the desired iron end-point for white matte. This paper also briefly discusses the current and future expansion plans, as well as ancillary operations at the smelter such as flue-gas handling and materials handling.

Jan 1, 2011

By Terry W. Mellors, Robert J. F. Goodfellow

The underground industry has been forced to reconsider risk management sincethe introduction and implementation of the “Joint Code of Practice for Risk Management of Underground Works in the UK” published in 2003 and the subsequent international version published by the ‘International Tunneling Insurance Group’ (ITIG) in January 2006.What does this mean for major tunnel projects in the US and elsewhere? The discussion will highlight the implementation of the Codes to date, risk management principles embodied in the Codes and the use of risk registers as a projectmanagement tool and the management of risk.

Jan 1, 2007

By Alan G. MacKinnon

Loads and stresses from pile driving are increasing from heavier piles and more powerful hammers. Stresses can be dangerous to equipment stability. Equipment developer MacKinnon tells how to compute stresses for all positions of the crane boom and angles of pile batter. From a paper presented at the DFI-University of Hawaii Seminar, April 1985.

Jan 1, 1986

By Crazy Horse - The Journal of Explosives Engineering - Vol 20 No 1

The crew at Crazy Horse Memorial has produced a w o n d e rful new video called “The Fine Art of Mountain Carving.” The video closely examines for the first time, the extraordinary explosives engineering on the Crazy Horse mountain currently in pro g ress in the Black Hills of South Dakota. The 56-minute video takes the viewer up the mountain for a behind-the-scenes look at the drilling and blasting crew at work on the mountain. The video was written, edited and produced by Robb D e Wall and is available exclusively from the Crazy Horse Memorial in both DVD and VHS formats. For i n f o rmation, see www.crazyhorsememorial.org The following, is a brief summary of the 25 steps involved in carving the mountain. The video goes into extensive detail on each of the 25 steps. Both those in the explosives industry and those outside the industry will find the video intere s t i n g .

Jan 1, 2004