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By J Vann

Geometallurgy is inherently multidisciplinary and it gains its power to deliver improved outcomes for the minerals industry by bridging silos between disciplines. This cross-disciplinary approach unlocks value, identifies (and avoids) value destruction and provides a pathway to better implementation of an energy efficient and sustainable minerals industry. Despite this promise, we argue that the cross disciplinary approach also represents the greatest threat to the success of geometallurgy. Some key cross disciplinary issues identified are:Geometallurgy has so far evolved in the technical sphere, mainly by collaborations of geologists and metallurgists. Consequently, in many cases the business dimensions and value have not been incorporated. Financial and risk evaluation viewpoints need to be assimilated into the geometallurgical paradigm. In fact, until such measures are integrated into practices, the value cannot be fully demonstrated.The historical and current efforts on geometallurgy have been highly focused on improved sampling and measurement of geometallurgical properties or appropriate proxies. This work has been driven by professional and academic geologists and metallurgical engineers. It is notable that mining engineers (who are critical in the value delivery of geometallurgy through changed planning approaches) have so far been at the margins, or absent. The construction of valid three dimensional (3D) geometallurgical models raises some important organisational, mathematical and geostatistical considerations. The enhancement of resource models to account for geometallurgical aspects must be managed carefully if the full value of geometallurgical thinking is to be realised.The use of 3D geometallurgical models to change business decision making and practices is the real nub of the problem. We believe sophisticated scenario based evaluation methods are required if the potential impacts of spatial rock properties on processes further down the mining value chain are to be realistically evaluated. Such changed practices require ‘whole of value chain thinking’ to embed this change into the business in an ongoing way.Because profitable geometallurgy demands changed approaches to business decision-making and also organisation of the firm (radically changed in some cases), the senior executive viewpoint must be incorporated into the language and thinking of geometallurgy. This is unavoidable if the establishment of a geometallurgical approach to project evaluation, development and operation is to be successful and sustained.A powerful analogy for the problem faced by geometallurgy is the transformation of safety culture in the mining industry in the past 20 years. We argue that, as in the safety revolution, explicit models, cultural change and management of the ‘soft’ dimensions of the problem are pivotal to success of geometallurgy. In light of this, we propose a model (‘the Geomet Curve’) that gives a framework and pathway for geometallurgy in seven steps. The implications of this model for technical and organisational steps required at different stages are discussed.

Sep 5, 2011

By M. Onifade, O. S. Otuogbai, A. F. Mulaba-Bafubiandi, O. D. Eniowo, H. Grobler

Artisanal and small-scale miners in Nigeria struggle to attract formal financing to upgrade their operations to a more sustainable form of small-scale mining operation. Literature shows that for an investment to attract formal sources of financing; the business must be considered creditworthy by potential lenders. This means that the credit risks associated with the investment must be bearable for the potential lender. This study looks at how artisanal and small-scale miners can attract formal funding, which will help them take the leap from artisanal state to a form of sustainable small-scale mining operation. This study evaluates the creditworthiness of artisanal and small-scale mining operators using key credit risk parameters identified in the literature and through primary investigation. A quantitative study is conducted on a sample of 100 artisanal and small-scale miner establishments in Nigeria to evaluate the effect of these identified credit risk parameters on creditworthiness. It is shown in this study that being a member of a mining cooperative society, which is a form of social collateral, best improves the chances of access to formal financing for miners within the sample group. This underpins the role of social collateral, in both the formal and informal economy, and its influence in improving the creditworthiness of a typical artisanal and small-scale miner.

Jul 23, 2025

By John G. Peacey, Leoncio Sevilla G., Ford. Kevan J. R., Erling Villalobos C.

"Kinross Gold Corporation’s Mantos de Oro (MDO) gold/silver mine in northern Chile currently processes 15,000 tpd of oxide ores through a mill, whole ore cyanide leach plant followed by a Merrill-Crowe refinery. With the expected depletion of these oxide ores in a few years a new sulphide mineral deposit, Ladera-Farellón has been identified to potentially replace existing ore reserves. The deposit contains approximately 0.5g/t Au, 6g/t Ag and 0.5% Cu. The principal sulphide mineral in the deposit is enargite (Cu3AsS4) which hosts the majority of gold and silver and the copper. Direct cyanidation testwork has shown the sulphide mineral is refractory with a low gold recovery of 36% and silver recovery of 45%. Oxidation of the sulphides is required to liberate gold and silver and allow recovery of copper as an important pay-metal. Therefore, at MDO a new metallurgical process route with oxidation as a pretreatment step is required for viable treatment of such new sulphide mineralized material with acceptable recoveries of pay-metals.Analysis of flowsheet options was completed based on bench-scale and pilot scale metallurgical testwork as well as with reference to existing studies and operations. The process options investigated assume concentration of sulphides by flotation, followed by either pressure oxidation, bacteriological oxidation or roasting. Preliminary evaluation of flowsheet options focused on process risk, operability, technology availability and the economics of the project with emphasis on use of the existing metallurgical plant to reduce capital cost. Operating costs for each process option were also included in the relative analysis.The challenges of treatment of MDO sulphides, principally enargite and pyrite for recovery of gold, silver and copper center on fixation of arsenic and sulphur capture with environmentally acceptable disposal of residue tailings. This environmental focus was included in the process option selection and comparative analysis.This paper presents a review of the process options considered and highlights comparative advantages/disadvantages of each process with associated environmental issues. Preliminary conclusions are drawn on roasting as a potentially favorable process option for the treatment of MDO sulphides."

Jan 1, 2009

By J. W. Mills

In 1956 the discovery of nickel on Jumbo Mountain, Snohomish County, Washington, focused attention on this part of the Cascade Range, far more renowned for its timber than for its mineral resources. Hand specimens assaying as high as 13 pct Ni encouraged Discovery Mines Inc. of Mount Vernon, Wash., to stake 12 claims in Township 31 North, Range 9 East of the Willamette Meridian. The property was leased to Climax Molybdenum Co. in January 1957. Trenching, sampling, and geologic studies were carried out during the late summer of 1957 when most of the snow had disappeared. Although the deposits are only about four miles south of the logging town of Darrington and about two miles. as the crow flies, southeast of the end of a good gravel road from that town, all camp supplies and equipment were air-dropped, owing to the extremely rugged nature of the terrain. GEOLOGY The rocks of Jumbo Mountain comprise a series of folded Tertiary sediments forming a belt one half to three quarters of a mile wide, trending northwest about parallel to the strike of the beds. This belt is sandwiched between two extensive in-trusives—gabbro on the northeast and quartz dio-rite on the southwest—and has been intruded by dikes of fresh and serpentinized dunite. Shear zones follow many of the dunite-sedimentary rock contacts, and in these the nickel mineralization is concentrated. A few transverse faults offset the sediments and ultrabasics. Sedimentary Rocks: Two kinds of quartzite make up the greater part of the sedimentary section. One is dark purplish gray, very fine-grained, and thin-bedded; the other is light gray to white, medium-grained, and well-bedded. Locally the light-colored quart lites contain grit and conglomerate horizons, rich in pebbles of white chert and very fine-grained quartzite. Intercalations of dark argillites near the summit of the mountain give many of the cliffs a striking banded appearance. Dark gray to black, aphanitic, thin-bedded argillites occur throughout the entire sedimentary belt. Beds vary from a few inches to a few tens of feet thick and some, near the summit, contain numerous fossile (willow?) leaves. Only the thicker beds were mapped. The sediments are quite fresh on the northeastern side of the belt and become more metamorphosed (hornfelsed) toward the southwestern side. Brown biotite is present in the metasediments in increasing amounts as the quartz diorite is approached. Near the intrusion, porphyroblasts of plagioclase, up to 1 in. across, testify to the soaking of sedimentary rocks by solutions emanating from the quartz diorite. Most of the sediments mapped lie along the southwestern limb of an anticline, the axis of which follows the crest of the mountain and plunges at a low angle to the northwest.

Jan 1, 1961

Your assessment of the minerals business. The global mining industry is strong. I am convinced it will continue meeting the mineral needs of the world population for the foreseeable future. Two developments have greatly enhanced the industry’s ability to produce low-cost minerals. Technological innovations have resulted in increased productivity. And there has also been a dramatic expansion of the number of favorable countries in which to explore and mine. Capital expenditures have flowed to the low-production-cost mines and development projects as well as to the exploration projects and stable countries having the best potential for valuable mineral discoveries.

Jan 1, 2000

When the mining and milling of 1100 copper orebody commenced at Mount Isa a satisfactory grade of copper concentrate was difficult to produce. The major concentrate contaminants were fine pyrite and silica, particularly in the minus 10 microns fraction. Studies of the 1100 orebody showed that much of the fine grained pyrite and a proportion of the silica present in the ore contained carbonaceous matter in the form of complete or partial rims and as internal carbon films disseminated throughout grains. The hydrophobic surface property of the carbonaceous material resulted in inherently flotable fine pyrite and siliceous particles.The addition of a 60:40 mixture of nigrosine and dextrine, initially to a prefloat concentrate of the inherently flotable carbonaceous material and finally to the total copper flotation feed, successfully controlled the flotation rates of the carbonaceous pyrite and silica. The objective of a 25 per cent Cu concentrate grade was then achieved without decreasing copper recovery.

Jan 1, 1971

By E. C. Olsen

This paper describes the unusual hazardous conditions encountered in mining thick, inclined coal beds under heavy cover in Carbon County, Utah. This description includes heavy roof conditions, sloughing ribs, steep pitches, and severe bouncing experience. Emphasis is placed on the top bench system of mining and development in the top half of a 16-ft seam, under the roof rock, which is bolted, and the recovery of the bottom coal on retreat; success of bolted roof and ribs; and shuttle car haulage on pitches up to 25%. The use of protective cages for operators of face equipment, the guarding of belt conveyor systems to prevent injury associated with deliberate entry, and the positive lockout of electrical equipment is described and illustrated. Most coal mining areas of the Western United States are characterized either by thick beds, steep pitches or heavy cover. Individually, each of these may present inherent safety hazards that in- fluence mining. When all are met at one location, the combined effect is to make the safe operation of the mining property a challenge to management. These combined conditions are met in the coal mines of the Columbia-Geneva Steel Div. of the United States Steel Corp., in southeastern Utah. This coal bed measures up to 16 ft in thickness, the pitch is as much as 25% and mining is under a cover approaching 3000 ft. The Sunnyside coal bed is found in the Book Cliff Mountains, a great escarpment extending from west of Castle Gate, Utah, some 180 miles to Grand Junction, Colo. West of Green River, Utah, the Book Cliffs swing sharply to the north because of the domelike uplift of the San Rafael Swell to the southwest. It is in this northerly extension of the Book Cliffs that the Sunnyside coal in the Blackhawk Formation of the Mesa Verde Group, Upper Cretaceous Age is found. The strata are transected by numerous faults with from a few inches to as much as a hundred feet of displacement. All of these faults have had some effect on the mining operation, either in roof control or, in the case of major faulting, the pattern of mine development. MINING PRACTICES Mining has generally been confined to the Lower Sunnyside Seam which measures from 7 to 16 ft in

Jan 1, 1963

By E Lounejeva, J A Halpin, A Chappaz, D D. Gregory, S Wu, T Lyons, P J. Sack, R R. Large, S W. Bull

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Newly published models suggest that some orogenic and Carlin-style gold deposits formed by the remobilisation of trace elements during interaction with hydrothermal or metamorphic fluids from early sedimentary pyrite that was enriched in Au, As and Te. The released trace elements are transported by the fluids to favourable trap sites where they are deposited. Therefore, early enrichment of Au, As and Te in source rocks (particularly in pyritic black shale) can be crucial to the formation of orogenic and Carlin-style gold deposits.The most important cause of the enrichment of gold and other trace elements in the sedimentary basins has been examined in this study to determine which basins are the most prospective for the development of orogenic gold deposits. An important influence for Au and other associated trace element accumulation in sedimentary pyrite is the temporal variation of trace element content in the oceans, as revealed by a database of over 1400 analyses of pyrite from black shale through geologic time. It is inferred that sediments coeval with those where sedimentary pyrite is enriched in Au and associated trace elements are more likely to be source rocks of orogenic and Carlin-style gold deposits.Factor analysis of the trace element content of pyrite through geologic time was conducted to investigate the multivariate relationships amongst trace elements and how these chemical factors explain the uptake of trace elements. One important factor includes Te, Au, Pb and Bi content. The incorporation of these large cations into pyrite is enhanced by As3+ substituting for Fe in pyrite lattice. The As3+ ion occurs in relatively oxidised environments and, thus, it is expected that shales deposited in non-euxinic waters are better source rocks for orogenic gold deposits.The examination of both the time in which the sediments were deposited and the redox conditions of the basin, and the ocean more broadly, can be used as a guide to approximate the extent of a basin’s fertility. To illustrate the use of this exploration tool, examples from the unmineralised Jet Rock Formation (UK) and the mineralised Castlemaine Group (Bendigo, Australia) are presented in this paper.CITATION:Gregory, D D, Large, R R, Halpin, J A, Lounejeva, E, Wu, S, Bull, S W, Sack, P J, Lyons, T and Chappaz, A, 2015. Accumulation of trace elements into black shale – how to identify a viable source rock for orogenic and Carlin-style gold deposits , in Proceedings PACRIM 2015 Congress, pp 59–64 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By Jay A. Berger

Nondestructive testing of deep foundations for integrity problems made great strides in the late 1980's. Inexpensive portable computers have allowed the immediate and rapid processing of field measured acceleration records which can provide insight into the relative structural integrity of a previously installed foundation member. Although the gathering, processing and displaying of the data is now straightforward, interpretation remains at times rather challenging. This paper provides a brief introduction into the theoretical basis for data interpretation and the hardware necessary for data acquisition. Five case studies are discussed which demonstrate the varied applications of low strain integrity testing of deep foundations and the efficiency at which they are completed. BACKGROUND One dimensional wave mechanics, when applied to a linear elastic pile with a length that is an order of magnitude greater than its width, provides a straightforward basis for the interpretation of motion measurements made at a pile top. When impacted, a stress wave travels through the pile at a wave speed, c, which is a function of the elastic modulus, E, and mass density p (i.e., E=pc2). The applied load F, and particle velocity v, at a point are related by the equation F=Zv. For a cross-sectional area A, the proportionality constant Z is equal to EA/c. Because Z is a measure of the pile's resistance to change in velocity it is called the pile impedance.

Jan 1, 1990

By Luis Martín Tejeda

La simulación numérica es considerada como uno de los mejores métodos de modelamiento y planeamiento en la evaluación de la estabilidad de los taludes en minería superficial. En ese sentido, el presente texto señala que a través del método de tensión-deformación, implementado en programas computacionales basados en el método numérico de elementos finitos, se puede llegar a localizar la probable superficie de ruptura. Asimismo, con los diferentes modelos constitutivos como el elástico perfectamente plástico, estos taludes pueden ser evaluados. Por último, se describe brevemente los mecanismos de ruptura en taludes altos, el cálculo del FS y algunas características del programa de elementos finitos PLAXIS v. 7.2.

Sep 19, 2006

By Gilles Landry, Mohamed Ourriban, Pierre Pelletier, Ahmed Bouajila, Claude Gagnon

"This paper summarizes the work carried out to develop and implement the gold cyanidation by size class (CSC) process, a novel concept aiming to reduce cyanide consumption.First, the authors will present the methodology and results of laboratory tests conducted to evaluate the response and the expected gains for the selected ore when submitted to the CSC processing. In the second part, focus will be on the methodology behind the CSC scheme development prior to its implementation at Sleeping Giant Mine concentrator. Finally, the evaluation of the modified circuit performance (operating since July 2007) will be addressed as a reduction of cyanide consumption by more than 30% and of free NaCN in the tailings by more than 50% is confirmed.INTRODUCTIONCyanidation is the most widely used technique to extract gold from hard rock ore. Its use of oxygen as an oxidant still makes it the cheapest process available after more than a hundred years. Unfortunately, gold cyanidation is known to be a slow process that requires high consumption of cyanide. In fact, cyanidation plants are designed with very long residence times (Habashi, F., 1967). Drawbacks of long cyanidation times are, among others, loss of gold in tailings, high reagent consumption and high capital investment and maintenance costs.Responding to their members expectations for the improvement of cyanidation process, COREM undertook a challenging R&D program covering the development of alternative concepts (processes) and the understanding and solving of mass transfer, gold passivation and process water chemistry problems. One of the interesting findings of the R&D program is a patent pending process technology based on the cyanidation by size class (CSC) concept (Côté and Ourriban, 2004; Gagnon and Ourriban, 2007; Gagnon and Ourriban, 2004).The new technology was tested at the Sleeping Giant concentrator, a plant member of COREM. The existing flowsheet was modified in order to implement the CSC process in the full-scale plant. The plant has been operated using the modified CSC based process since August 2007. Laboratory testwork was conducted prior to the industrial application in order to properly design the new process scheme. The modifications included:1) Reclassification of the grinding circuit product through an hydrocyclone2) Leaching of the coarse size fraction3) Addition of the fine fraction to the coarse leaching circuit tails."

Jan 1, 2009

By Eduardo Nunez, Asim Tuzun, Dan Graffi, Glenn MacPherson

"In preparation for the milling of a new nickel and copper mine ore, Nickel Rim South, Xstrata’s Strathcona Mill is undertaking numerous process improvement projects. Within the grinding circuit, several projects are under development and an automated grinding control strategy, consistent with the operating objectives, was identified as a key requirement. The grinding strategy is to maximize the throughput (quantitative objective) while maintaining the cyclone overflow within specifications (qualitative objective).This paper describes the implementation of a robust grinding control strategy using the existing control system. The implemented controls maintain the cyclone overflow density at the desired target, while continually optimising the rod mill feed rate to allow maximum throughput. This approach has the added benefit of improving the stability of the rougher flotation circuit down stream of the grinding and improving energy efficiency of the rod and primary ball mills. This paper discusses the comparison of the before and after the implementation of results.INTRODUCTIONThe grinding process is a size reduction operation used in the mining industry to liberate the valuable minerals from the gangue. Grinding is one of the most important and expensive processes in a concentrator (Xi-song, 2007; Pomerleau 2000; Najim 1995), often accounting for around half of the total operating costs in base metal concentrators (Wills, 1990), which has led to a focus on development and implementation of control and optimisation strategies. The grinding process prepares the ore for the subsequent concentration step, which for sulphide base metal operations, is predominantly flotation. The performance of the concentration (flotation) is very much determined by the feed characteristics of the slurry coming from grinding. The valuable minerals recovery process in flotation is very much influenced by the grinding process and the liberation of the desired minerals from the gangue minerals (McIvor, 1991).The true objective of grinding is to obtain a proper liberation of the minerals as defined by a particle size distribution referenced typically by d80 (80% passing size of product). Besides achieving the desired mineral d80 size, it is clearly desirable to produce as narrow a size distribution as possible to squeeze the maximum amount of the mineral value into the highest recovery region (McIvor, 1991). This is an important criterion for the mill in economically optimizing the grade and recovery for the concentrate product. It is important not to over or under grind, while keeping the specific comminution energy as low as possible (Nunez, 2005) to achieve the target liberation. In other words, maintain an optimal throughput depending on the ore conditions to the capacity of the grinding mills, while providing the flotation process with a constant and narrow size distribution, at a cut size selected to meet the metallurgical requirements (Bascur, 1991)."

Jan 1, 2009

By S F. Simmons

The Ohaaki Rhyolite and the Rautiwiri Breccia are two volcanic units occurring in the shallow and deep parts of the Broadlands-Ohaaki geothermal system. Alteration of these units by chloride waters results in distinct mineral assemblages that also have distinct whole rock compositions. The Ohaaki rhyolite is altered to an assemblage dominated by quartz, adularia, illite and pyrite as a consequence of silica, potassium and sulfur metasomatism. Locally, these rocks contain up to 0.5 ppm Au. The Rautiwiri Breccia by contrast is altered to an assemblage dominated by albite, adularia, quartz, illite, chlorite and pyrite in association with modest sodium metasomatism. Whole rock oxygen isotope compositions of altered rocks range between 3.3 and 7.5 ë, and are generally lower compared to their fresh rock equivalents having values of 9.5 to 10.6 ë; the result is broad pattern of lower values with increasing alteration intensity.

Jan 1, 2002

By D Craw, J Youngson

Recent exploration for mesothermal gold deposits in the Otago Schist has focussed largely on extensions of, or analogies to, the reverse fault-hosted Hyde-Macraes Shear Zone deposit. Abundant normal fault-hosted mesothermal and epithermal vein deposits in the Otago Schist have attracted less attention, largely because they have limited lateral extent and steeper dips. Northwest-striking normal fault-hosted vein sets near Barewood and Hindon in east Otago crosscut schist foliation on the Barewood-Hindon plateau at a high angle along a combined strike length in excess of 20 kilometres. The trend of the vein sets is not linear, but rather contains several right lateral steps. Almost all veins dip steeply to the northeast. Angular discordance between schist foliation and the plateau surface along the trend increases from near zero at the northwest end of the veins to about 30¦ at the southeast end. Crude formation depth estimates decrease from about 7.5 km at the Barewood end of the zone to

Jan 1, 2002

By Fisher N. I

Disequilibrium ratios (U3O8/eU3O8), which assess the degree to which gamma activity represents the uranium content of a sample, have been measured on a representative set of samples from the ore zone of a carnotite ranium deposit located at Yeelirrie, Western Australia. A statistical analysis has been performed to investigate the dependence of the ratios on lithology and on the location of the sample in the orebody. The analysis indicates that dependence on lithology and on position across the orebody is negligible. Samples from the western end of the orebody and those from below the water table level tend to have slightly lower ratios than samples from other positions, although these trends are small compared with a large random variation in the data. The large random variation could result from some redistribution of the daughter isotopes of uranium within the orebody. On the basis of the results from all the samples, the estimated deficiency of uranium relative to radium in the ore zone of the deposit is 11 per cent.

Jan 1, 1980

By B A. Mowat, T M. Leach

The Morobe Goldfield inPapua New Guinea has produced in excess of 120 tonnes of gold from predominantly alluvial sources. Hardrock gold has been mined historically at Wau (23 t) and Edie Creek (4 t) and geological resources have been established at Hidden Valley (78 t), Kerimenge (36 t) and Hamata (30 t).Numerous prospects have also been identified within the goldfield. Primary gold mineralisation is related to intrusion of dacitic to andesitic Edie Porphyry (2.4 to 3.8 Ma), often with associated diatremes, which have intruded along major regional structures. A full spectrum of deposit styles from proximal (mesothermal) to distal (epithermal) to the porphyry source is recognised. The transition between the proximal and distal styles is recognised both between deposits and within an individual deposit. The deposit styles should be termed porphyry related gold mineralisation rather than given the generic epithermal and mesothermal labels.   It is proposed that magmatic fluids which evolved from parent melts to the high level Edie porphyry stocks mixed with convecting meteoric fluids and were channelled along major structure and diatreme contacts. Proximal to the intrusives, gold mineralisation is associated with deposition of pyrite-hematite-quartz+/-magnetite-gold (Hamata) and pyritebasemetals-quartz-gold (Wau). The mineralising fluids were hot, and periodically saline due to pulses of magmatic fluid. Gold is non-refractory and occurs as 20 to 30 micron blebs within the pyrite.   More distal from the intrusives or under late cooler conditions, mixing of cool dilute meteoric and magmatic fluids resulted in gold deposition associated with arsenic rich pyrite-and arsenopyrite-mineralisation (Kerimenge, Hamata and Edie Creek). Gold is refractory and occurs within the sulfides either as sub-micron inclusion or within the lattice.   CO2 and H2S gases which evolved off the upwelling hydrothermal fluids as a result of boiling and pressure reductions, condensed within superficial groundwater and formed cool oxygenated bicarbonate fluids. These fluids percolated back down the structures depositing manganocarbonate in the upper parts of the hydrothermal system. At deeper levels in the system mixing of the descending bicarbonate fluid with upwelling mineralised fluids deposited manganocarbonate-quartz-sulfides nonrefractory gold (Hidden Valley, Wau and Edie Creek).   At Kerimenge the cool bicarbonate fluids have also quenched a late stage magmatic fluid rising along high permeability structures. The quenching has resulted in deposition of non-refractory gold mineralisation associated with hessite (Ag2Te)-tennantite-chalcopyrite deposition.   Within the Morobe Goldfield, a transition from deeper level pyrite-quartz+/-hematite-magnetite to intermediate level quartz sulfide and quartz-carbonate-sulfide deposition to upper level, massive manganocarbonate deposition is recognized. Gold mineralisation can occur within all levels up the system.

Jan 1, 1995

By A A. Ndiaye, A Galli

In a companion paper on current hedging practices in the mining industry (Armstrong et al, 2009) we showed that contrary to popular belief, mining groups are still using financial derivatives to hedge against foreign exchange risk and interest rate risk, and more recently against adverse changes in energy prices, notably the oil price. This paper presents a case study on a hypothetical gold mine to illustrate the impact that hedging policies could have on its profitability by reducing the downside risk due to adverse changes in the exchange rate and increases in fuel prices. The characteristics of the hypothetical mine have been set to reproduce those of a real gold deposit, the Kisladag mine that is currently being exploited by open pit methods in Turkey. This mine was selected because its feasibility study was available to the public. Geostatistical simulations are used to reproduce the inherent uncertainty on the recoverable reserves û stochastic simulations are used to generate the variability of the other three key sources of uncertainty: the gold price, the cost of energy and the exchange rate. A simple strategy based on straightforward vanilla options (puts and calls) was developed for hedging the last two risks, on the assumption that the company sells its production at the prevailing spot price.

Jan 1, 2009

Editor’s note: As usual, the June issue features an industrial minerals review. And some thanks are in order. Thank you to the industrial minerals annual-review editor, to the technical committees chair and vice chairs and to the authors of the individual commodity profiles. Jim Norman of GeoTrans Inc. is the industrial minerals annual-review editor. Gary Tomaino, Specialty Minerals Inc., is the chair of the SME industrial minerals technical committees. Technical committee vice chairs include: •Lucy McCartan, U.S. Geological Survey, agricultural minerals as well as sorbents, filter and process aids. •Steve Herron, Oglebay Norton Performance Minerals, ceramics and refractory materials. •Srinivas Veeramasuneni, U.S. Gypsum, chemical raw materials. •William Langer, U.S. Geological Survey, construction materials. •Vanessa Santos, Independent, fillers and pigments. •Richard Berg, Montana College of Mineral Science and Technology, specialty minerals. Their help makes possible this June industrial minerals issue. On behalf of the readers, the editors thank them.

Jan 1, 2003

This Bureau of Mines publication summarizes the industrial minerals industry of Idaho. It contains information on 119 principal deposits of 21 commodities in the State and describes the institutional and infrastructural factors affecting mineral development.

Jan 1, 1991

By Dean Nichols, Matt Ortel

Explosive accidents in the United States have brought increased attention to emergency operation plans (EOP) at all facilities that manufacture, transport, or store hazardous materials – particularly explosive materials. Explosions are sudden, powerful, and complex events that are difficult to characterize in terms of the thermal, over pressure, and debris effects. Industry, regulatory, and public officials require emergency response planners to not only anticipate the blast effects of an explosion, but also to prepare an appropriate response.

Jan 1, 2016