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By FREDERICK H. WILLCOX

In the past the blast-furnace industry was under the stigma of being one of the most prolific sources of killed or seriously inj ured and permanently disabled workmen of any of the industries of the country. In the popular mind, labor at blast furnaces was little less hazardous than mining, powder making, or railroad work. This impression wasbased not so much on definite knowledge of the number actnally injured and the causes of injury as on the spectacular nature of the accidents that from time to time were described in the press. As with a mine disaster or a railroad wreck so with many furnace accidents, the number fatally injured in such accidents constitutes only a minor proportion of the workmen who suffer more or less serious injuries. However, the reader of the daily paper receives a distinct impression-of frightful and sudden disaster which is apt to be associated henceforth in his mind with work at blast furnaces. It is true that in the past this impression has not been without warrant, for from the time of the advent of Mesabi ores, taller furnaces, and faster smelting, which begain in the early nineties, the newspapers have chronicled a large number of blastfurnace disasters. Blast-furnace men have never assumed to tolerate failures in construction or defective control of furnaces. But the admitted hazards of the work are many, and the slow development of improvements in the construction and control of the furnace and its auxiliaries have occasionally given rise to a tendency to accept as a part of the day's work not only the unforeseen and difficultly controlled accidents but accidents whose recurrence might be stopped by the adoption of suitable preventive measures. In the smelting of iron, even more than in many other industries, safety is inseparably related to efficiency in production, and. the accidents strictly incident to work about the furnace are proportional in some degree to the success with which obstacles to smooth working are overcome. This relation does not hold, however, in regard .to such accidents as are incident to hand labor, falls, falling and flying objects, machinery, and the use of hand tools.

Jan 1, 1917

By Wallace W. Key

Mineral raw materials produced in California, other States, and foreign countries were purchased for consumption in quantities valued at over $60 million at 800 of the 1,200 chemical plants operating in California in 1960, according to questionnaires completed by company officials. These and other data received from mineral consumers, producers, dealers, and Government agencies formed the basis for this the first of a series of reports designed to present the intricate features and relationships controlling mineral raw material supply and demand in California industries. The results of this study indicated certain changes in use patterns of minerals in chemica 1 manufacturing; a shift in requirements from metals to nonmeta ls, from inorganics to organics, from natura 1 to synthet ic materia ls , and from distant to local sources of supply.

Jan 1, 1965

By G. Bee, Z. Gavelan, R. Espinel, Y. Roditis, X. Ochoa

In August 1996 Barrick Gold Corporation acquired the Pierina property, an advanced stage exploration project, high in the Andean Cordillera of Peru and in November 1998, in a record time of just over two years, poured the first gold. After more than three years of a very successful operation at some of the lowest operating costs in the world, this presentation serves to briefly describe the project through design, construction and start-up and in particular to spotlight some of the challenges that have been overcome in valley heap leaching in a high rainfall, alpine setting.

Jan 1, 2002

The National Institute for Occupational Safety and Health conducted laboratory and field tests to evaluate the effectiveness of dust collector bags for reducing dust liberation and operator exposure from a roof bolter?s dust collection system. The laboratory tests evaluated the bag?s effectiveness to contain dust and the effect on canister filter loading in both a bag and bagless condition. The dust emissions from the collector?s exhaust were also measured in each condition during laboratory testing. Laboratory results show that nearly 100 percent of the test dust fed into the collector was captured by the dust bags. Loading and pressure drop on the dust collector?s canister filter is greatly decreased when using the bags, enabling longer periods of drilling without filter removal/cleaning. The field results showed that, even though dust standards were met, respirable dust in exhausted emissions was reduced around the bolter. Laboratory and field results show that benefits from use of the bags are realized in all areas of operator exposure.

Jan 1, 2008

By H. D. Kline

This paper is one of a series being prepared by the Bureau of Mines on methods, practices, and costs in various mining districts in the United States. The paper describes mining and ore recovery methods common to the Batesville manganese district, Independence County, Ark., and gives the costs of producing merchantable ore by three operators whose methods were more or less typical of those of many other local manganese producers. The operating costs reported were those of Leonard Baxter at mines on Brooks Hill for the calendar year 1958 and Arkansas Mining and Exploration Corp. at Section 16 mine and the Searcy group of mines and Miller-McGee Corp. at the Diener mine during the first 6 months of 1959. Manganese are was mined in the district as early as 1849 and almost continuously thereafter until August 1959, when termination of the Government's domestic manganese purchase program resulted in complete cessation of mining activity. During those years, production came from more than 189 mines and properties, of which only a few produced as much as 30,000 tons of merchantable ore.

Jan 1, 1962

By Wojciech Klecan

Cobb County, located on the northwest side of Atlanta, GA, is continually growing and, like many other metropolitan areas, it needs to increase the capacity of its waste water system to meet future demand. The Cobb County Water System (CCWS) is the responsible agency for water distribution, waste water collection and treatment in most areas of the county. CCWS, one of the most progressive agencies in the metro-Atlanta area, is addressing its future waste water capacity needs in the southern part of the county with the construction of the South Cobb Tunnel and Pump Station. This project consists of an 8.8-km- (5.5-mile-) long, 8.2-m- (27-ft-) diameter, tunnel boring machine (TBM) excavated waste water storage and conveyance tunnel; six tangential vortex-flow intakes ranging from 1,533 to 5,700 L/s (35 to 130 mgd) peak flow capacity, two construction shafts, six 1.8-m (6-ft) finished diameter connecting tunnels ranging in length from 6 to 975 m (20 to 3,200 ft) and a 5,700-L/s (130-mgd) wet/dry pit pump station. The pump station will have a semi-circular wet well with a dividing wall that extends almost to the top of the shaft and a spilt dry well for reliable operation. Roller gates will control the flow to the wet well from the tunnel. The pump station will have six 1,420 L/s (32.5 mgd) pumps and two sets of stair wells and elevators. With a finished diameter of 32 m (104 ft) and a depth of 62 m (204 ft), this is the largest pump station shaft constructed so far in Georgia for the dewatering of a waste water tunnel. The pump station shaft was also the highlight of the well attended and successful 2009 Shaft Design and Construction Short Course held in Atlanta, Sept. 10-11. The two-day course was sponsored by the Underground Construction Association of SME and Pennsylvania State University and concluded with a field trip to the pump station shaft. The tunnel starts south of the city of Austell and finishes at the South Cobb Water Reclamation Facility (WRF), located on the banks of the [ ] Chattahoochee River just north of Interstate 20 (Fig. 1). The South Cobb Tunnel will run 30 to 137 m (100 to 450 ft) below the surface, with an average depth of about 91 m (300 ft), through metamorphic rocks (Fig 2). The construction contract was awarded to Shea-Traylor JV with the lowest bid price of $305 million and notice-to-proceed was given on July 14, 2008. Jordan Jones & Goulding, Inc. (JJG) is the project designer and performed the geotechnical investigations. Parsons/Jacobs Associates is the construction manager. The South Cobb Tunnel is CCWS?s second deep hard rock tunnel. The 15.3-km- (9.5-mile-) long, 5.5-m- (18-ft-) diameter TBM excavated the Chattahoochee Tunnel was the first deep tunnel to be construced in Cobb County. Construction began in 2000 and the project was completed four years later. It is located about 16 km (10 miles) northeast of the South Cobb Tunnel in similar geology. It was designed by JJG to meet east Cobb?s long-term waste water capacity needs and provide flow equalization to the R.L. Sutton WRF. The Chattahoochee Tunnel was named ?Outstanding Civil Engineering Project of the Year? by the Georgia Sec-tion of the American Society of Civil Engineers in 2006.

Jan 1, 2009

By G. W. Jones

"INTRODUCTION In a previous reports results were given of a manhole investigation carried out over a period from June,- 1929, to July, 1930, in cooperation with the Edison Electric Illuminating Co. of Boston, Mass., to determine the general hazards of combustible gases and vapors in manholes and other underground openings owned by this company. Considerable time was spent in this initial investigation in developing a suitable detector for determining the range of explosibility of the gases found in manholes. About 17,000 tests have been made with the detector since the investigation was started and its utility has been verified and its accuracy checked, by having complete analyses made of such samples that showed combustibles present equal to or above 25 per cent of the lower explosive limit, and those found deficient in oxygen.The initial investigation made in 1929 and 1930 demonstrated that the detection, control, and elimination of combustible hazards in manholes can best be obtained by a close cooperation of the interested parties through a systematic and continuous inspection of manholes, under proper supervision.COOPERATIVE INVESTIGATI0N DURING 1931The investigation carried out during the year 1931 has been along lines similar to that conducted during 1929 and 1930. In the present investigation the Edison Electric Illuminating Cc. of Boston and the Boston Consolidated Gas Co., have cooperated with the Bureau of lanes. The Boston Consolidated Gas Co. serves a major part of the territory under discussion with gas, but the tests covered the Edison territory irrespective of the gam company furnishing manufactured gas. A test crew consisting of two men, one an employee of the Consolidated Gas Co. and one an employee of the Edison Electric Illuminating Co., has been continuously employed during the year in the testing of games in manholes served by the Edison system. The test crew was under the direct supervision of John Campbell, superintendent of the special service department of the Edison Electric Illuminating Co., and F. M. Goodwin vice president of the Consolidated Gas Co.As in the previous investigation, all manhole tests were given test numbers. The test data sheets on which the information regarding the tests were recorded were prepared in triplicate, one copy going to the Edison Company, one going to the Gas company, and the third to the Bureau of Mines at Pittsburgh. These test data sheets were then filed (1) according to the town, (2) the street location, and (3) the manhole number; in this way a complete record pf each manhole tested was immediately available. A specimen test sheet is given below."

Sep 1, 1932

By Charles E. Whieldon

Because of the importance of recovering more oil from known petroleum reserves, increased emphasis has been placed on the application of secondary-recovery methods. It is hoped that these reports will stimulate interest in improved waterflooding techniques, thereby discouraging premature abandonment of oil leases. Previously published reports3 4 5/ have described the results of water-flooding in Roane, Pleasants, and Wetzel Counties, W. Va. (fig. 1). This report describes the South Penn Oil Co. Yawkey waterflood property, Berea sand, Griffithsville oilfield, Duval District, Lincoln County, W. Va. (fig. 2).

Jan 1, 1961

By S. M. Spottiswoode

Crush pillars are widely used in mine workings on the Merensky Reef in the Bushveld Complex to prevent panel collapses. Crush pillars are expected to fail as or soon after they emerge from the face and failure should occur non-violently. Unfortunately, violent failure occurs frequently and is said to be the main cause of seismicity associated with mining of the Merensky Reef. Recent work by Napier, Malan, and du Plessis has shown that limitequilibrium quasi-static models are able to simulate pillar failure using three states of strength of rock in pillars, namely intact, residual after failure, and decayed strength after later time-dependent (viscous) weakening. We have previously introduced an additional state of strength to account for the dynamic failure that results in seismic events, and found that this approach could be used to generate synthetic seismic catalogues similar to observed seismicity for deep-level gold mines, where seismicity takes place mostly on advancing faces. The less brittle seam material of the Merensky Reef, compared to the brittle quartzites and lavas of the Witwatersrand reefs, results in little or no face bursting and is modelled with an assumed plastic strain of some 0.005 over an effective stope width of 2 m before failure. When this plastic yield is surpassed, we allow the reef to fail ?seismically?. We show that synthetic seismic catalogues modelled in this way have some of the features of observed seismicity. Analysis is greatly facilitated using our custom-built software that reads the mine?s survey data into a database and presents results in an interactive graphical form.

Jan 1, 2014

By W. D. Maier, H. V. Eales

Paper presented at the IAGOD international symposium on mineralization related to mafic and ultramafic rocks held in Orleans, France, 1-3 September 1993. A lithological and geochemical study revealed significant lateral variation of the interval over 170 km of strike, from about 30 m at the Union Section to 220 m near Brits. The cumulates also become more evolved and leucocratic with distance from the Union Section both towards the NE (Amandelbult) and SE (Impala, Rustenburg and Brits). It is inferred that the persistent heat flux from a putative major feeder zone near the Union Section impaired deposition of felsic cumulates in the vicinity, delaying crystallisation of successive phases in parts of the chamber near the feeder. New influxes were therefore deposited on a footwall of varying thickness and lithology in response to different degrees of crystallisation and accumulation along strike. The development of cyclic units of chromitite, harzburgite, pyroxenite, norite and anorthosite was interrupted at different stages in different parts of the chamber

Apr 1, 1994

By D. Vogt

A brief summary of the propagation characteristics of rock provides the necessary understanding to design effective radar surveys. Measurements of the electrical properties of the major Bushveld platinum-bearing horizons and their host rocks show that radar is an excellent tool for both short -and longer-range mapping. Experimental work confirms the performance predictions. High frequency, 500 MHz ground-penetrating radar (GPR) is a first-rate tool for mapping features in the hangingwall of the orebody, locally known as a ?reef?, for the purposes of determining hangingwall stability. The triplet chromitites above the UG2 have been clearly mapped, as has the Leader Seam above the UG2. Borehole radar at lower frequencies has been used over longer ranges to map reef elevation. Potholes in the UG2 are clearly distinguished in range and elevation to within metre accuracy. The nature of the slump in the various footwall horizons is also apparent. In future, as GPR is routinely applied, it is likely to become used for other purposes. Borehole radar is being developed to operate at higher frequencies, which will allow it to be deployed from boreholes that are within 5 m of the target horizon. Keywords: GPR, borehole radar, Bushveld Complex, UG2, Merensky, pothole, triplet

Jan 1, 2005

By Burns W. G, Muceniekas E, Whitcher I. G, Hughes F. E

No iron ore deposits were reported before 1961 from the Hamersley Ranges, Western Australia, although low-grade bedded iron formations, associated with ferruginous jaspers and cherts, were known to occur in the local Nullagine Series of Precambrian age.In January-March 1961 preliminary investigations in the area drained by the Turner River, Duck Creek and Serpentine Creek revealed the presence of over 1000 million tons of dense botryoidal or pisolitic limonite, forming flat-lying orebodies with 50-57 per cent iron.Large bedded hematitic orebodies were also discovered in the same area in August-October 1961. These have a porous, biscuity texture and an iron content of 60-61 per cent. They occur at a welldefined stratigraphic level (Brockman Iron Formation), normally in synclines where they have been upgraded by circulating meteoric waters during an old cycle erosion.In 1962 systematic geological studies and mapping, together with sampling and scout drilling, indicated larger reserves of biscuity hematitic ore and led to the discovery of massive hematite deposits at Mt. Tom Price. These were extensively drilled in 1963, proving the persistence of' high-grade mineralisation to a depth of 200 ft and over.To date the total indicated reserves of the Hamersley deposits, within the area held by Hamersley Iron Pty. Limited, are of the order of 4960 million tons and thus rank among the more important of the world. The reserves are composed of 600 million tons of bedded dense hematite ore with 64-66 per cent iron, 2900 million tons of bedded biscuity hematite-limonite with 60-61 per cent iron, 1360 million tons of limonite (goethite) ranging in grade from 50 to 57 per cent, and 100 million tons of canga (conglomerate) iron ore containing 53-63 per cent iron. In all cases harmful impurities are comparatively low.

Jan 1, 1964

By G. G. Goble

Significant progress has been made in the past decade in determining the load bearing capacity of pile foundations. Developments in the means of prediction of pile capacity as limited by soil strength have been substantial, particularly in the use of dynamic methods. The use of currently available equipment, analytical procedures, and practices in the field, will often produce material economies on a job by allowing increased loads with proven factors of safety. This approach justifies the minimum number of piles required for a safe foundation in a wide range of job sizes and soil conditions. To avoid exposing the reader to excessive detail in the body of this paper, technical topics have been covered more thoroughly in several appendices. I. Wave Equation Analysis of Piles Appendix A II. Dynamic Monitoring and the Pile Driving Analyzer Appendix B III. Case Method Capacity Calculation Appendix C IV. Case Pile Wave Analysis Program Appendix D 1 Preliminary Analysis In designing driven pile foundations, there must be a close relationship between design, construction control procedures, driving practices, and the size of the job. Small commercial buildings or residences involving loads that are only a fraction of the pile capacities do not justify the expense of detailed design processes or elaborate construction controls. Nevertheless, some preliminary analysis of the job requirements and a limited subsurface investigation must be made to understand existing conditions and the possible foundation solutions. In other words, it is necessary to determine that driven piling is the best overall choice of foundation.

Jan 1, 1988

By O. Celep, T. Uslu, Savas

This study investigates the enrichment of a low-grade colemanite concentrate (-3 mm) using a Knelson centrifugal gravity concentrator. Due to its low boron content, the concentrate is unsaleable and has to be stored under appropriate conditions to avoid potential environmental problems. The low-grade colemanite concentrate was comminuted to size fractions of-1 mm, -0.5 mm, and -0.15 mm before treatment in the Knelson Concentrator. The effects of particle size, fluidizing water velocity, and bowl speed on the enrichment process were examined. The B2O3content of the concentrate was increased from 33.96% to a maximum of 45.52%. B2O3recovery increased with increasing bowl speed and particle size, and decreased with increasing fluidizing water velocity. The enrichment process also rejected arsenic and iron to some extent, with a maximum reduction of arsenic from 1360 g/t to 765 g/t and iron from 0.88% to0.33%.

Jan 1, 2015

By S. S. Peng, C. T. Holland

Mountain Top Removal (MTR) mining started in West Virginia nearly thirty years ago. This surface mining method can extract multiple coal seams as thin as a few inches thick with total recovery and minimum rock dilution in very steep mountainous terrain. It is highly efficient even if coal seams are in close proximity and small in aerial extent. Consequently, MTR has been widely used in the Central Appalachian Coalfield (mainly Kentucky, Tennessee, Virginia and West Virginia) for the past thirty years with great success. In that respect, there has been no demand for research and little scientific research has been performed to investigate its impacts on the surroundings in the history of MTR mining. However, in the past two years the debate over the MTR mining has grown quickly and in times become very intensely. This paper describes chronologically the issues raised by various parties, legal actions, its impacts on mining permit application and research projects developed to address the issues.

Jan 1, 2000

A large-diameter road tunnel will cross beneath the strait in Istanbul and expand the infrastructure bottleneck between Europe and Asia. The technical planning of the tunneling operations poses complex challenges. Therefore, the construction consortium ordered a specially adapted tunnel boring machine (TBM) from Herrenknecht. The 13.6-m (44.6-ft) machine, a Mixshield, was completed in early July 2013 in Schwanau, Germany. To get from the European to the Asian side of Istanbul, people and goods have to cross the Bosporus Straits. So far, two road bridges as well as ferries provide the only transport link between the two parts of the city and the two continents. The tense traffic situation for the nearly 14 million residents of the city and for international transit traffic should be improved considerably thanks to the construction of a new road tunnel under the Bosporus. ?The project is certainly one of the most challenging tunneling operations currently being addressed in the world,? said Herrenknecht project manager Georg Schleer. The route of the ?Istanbul Strait Road Tube Crossing Project? runs around 100 m (330 ft) below sea level at its deepest point. The interior diameter of the tunnel will be 12 m (40 ft) so that two lanes in each direction can be accommodated. They will extend one above the other on two levels. 3.34 km (2.1 miles) of the tunnel with a total length of 5.4 km (3.3 miles) are being created by a 13.6-m- (44.6-ft-) diameter Herrenknecht TBM that will begin its underground mission from a launch shaft on the Asian side.

Sep 1, 2013

It has long been recognised that Australia can benefit substantially in an economic sense from its rich resource base. The significant resources of the Gippsland Basin are a good example of the wealth of this nation. As cited in popular debate, Australia must value-add to its natural resources to ensure its long term economic prosperity. The significant oil, gas and coal resources of the Gippsland Basin have provided the Strategic Research Foundation with the basis for two major research and development initiatives ensuring the long term economic development of the Basin and Australia. The gas and coal reserves of the Basin together with the area's extensive history in electricity generation provide the rationale for establishing Ceramic Fuel Cells Ltd. A consortium comprising Australia's leading industrialist - BHP, State energy authorities and the Nation's major research and development organisations, has formed Ceramic Fuel Cells to undertake and manage research, development and commercialisation of solid oxide (ceramic) fuel cells which convert fossil fuels directly to electricity with greater efficiency and less pollution than existing technologies. The oil and gas resources of the Basin together with the valuable experience of the operators in recovering these resources, have provided the impetus to investigate the feasibility of a Marine Engineering Research Centre. The commercially oriented research, education and training objectives of the Centre are well supported by the leading industrialists in related industries.

Jan 1, 1992

By J. P. Gous, J. J. Sutherland

"Transalloys is a silicomanganese (SiMn) producer located in South Africa, and uses only local manganese ores to produce SiMn alloy. The plant operates five open submerged arc furnaces (SAFs) with an annual capacity of 180 000 t of saleable SiMn.Maintaining tap-holes is critical for effective furnace operation, allowing proper drainage of the furnace with minimal operator interference. Using a claygun and drill arrangement installed at each furnace, tapping occurs every four hours. Tap-holes are maintained through mickey replacement and brick repairs. Three furnaces have SiC tap-holes and two have graphite tap-holes.This paper gives a review of SAF operation, furnace and tap-hole design, daily tapping operation, and maintenance practices for repairing tap-holes.IntroductionDefining tap-hole life cycle, Steenkamp et al., (2016) highlighted four main steps: installation during furnace relines, day-to-day operations, tap-hole maintenance, and tap-hole repair. The authors argued that the design of the tap-hole area should allow for all four stages in the tap-hole life-cycle. Design principles for each stage were presented using silicomanganese (SiMn) production as a case study. Here we present a further analysis of the case study by providing practical examples of how the tap-hole life-cycle is managed at Transalloys during the design, operation, and maintenance of submerged arc furnaces (SAFs) applied in the production of SiMn.BackgroundTransalloys is the largest producer of SiMn in Africa. Its smelter complex is based outside the town of eMalahleni, in the Mpumalanga Province of South Africa. Transalloys was commissioned in the mid- 1960s as a high- and low-carbon ferrochromium plant based on the Perrin process. In 1967 the plant was converted to SiMn production because of constraints in the ferrochrome market (Basson, Curr, and Gericke, 2007; Bezemer, 1995). Today, the installed production capacity is 180 000 t of SiMn annually. Plant operations consists of five SAFs (see ratings in Table I), operating 24 hours a day, 365 days a year (including maintenance), involving 280 permanent employees, with up to 120 contract employees on site at any given time."

Jun 1, 2019

By Rudolph P. Frizzi

Quality control is essential for augered cast-in-place (ACIP) piles (also known as continuous flight auger (CFA) piles outside the United States) and drilled displacement (DD) piles since the pile is constructed below the ground surface out of the direct sight of the personnel constructing and inspecting the pile. ACIP piles are being successfully constructed to support high-rise structures, hospitals, arenas and stadiums, mass transit systems, and power and industrial facilities. The use of DD pile technology is also gaining ground in the United States, typically utilizing proprietary systems such as Omega (currently utilized by Richard Goettle Inc., and LG Barcus and Sons, Inc.), Berkel, and DeWal (currently utilized by Morris-Shea). Different types of ACIP/DD pile installation equipment are shown in Figures 1 and 2. ACIP piles are installed into granular and cohesive soils, and soft rock to lengths currently approaching 130 ft (39.5 m), with diameters up to 24 to 36 inches (610 to 915 mm), and sustaining design loads approaching 900 kips (4000 kN). Current DD pile installation equipment in the United States is capable of installing up to 79-ft-long (24 m) piles with diameters ranging from 12 to 18 inches (305 mm to 460 mm).

Jan 1, 2003

By C. Hutton

"SynopsisThe last commodities supercycle (2003 to 2011) was characterized by a belief in volume at any cost, where absolute output was deliberately prioritized over productivity considerations. This practice fuelled overoptimistic forecasting and planning, which in turn contributed to the economic crisis that followed. The sudden collapse of commodity prices has resulted in mining companies scrambling to find the right balance between optimizing current operations and preserving sufficient flexibility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins, while lower ore grades are inflating production costs. Mining companies therefore need to look at the business with fresh eyes, and develop strategies to attract equity capital as traditional approaches are simply not working anymore. This is especially so in the context of a dwindling investor base that continues to demand greater returns, despite a significantly lower appetite for risk. This paper revisits the micro-economic concepts and demonstrates how pressure from shareholders to prioritize output contributed to spiralling costs and value destruction. Practical techniques are described to model cost curves to optimize a Mineral Resource endowment and address the need to rightbalance a business and preserve agility.IntroductionHenry Lazenby (2014) for the Mining Weekly writes, ‘Bruised and battered, the global mining industry today is undergoing a sea change. Practices and policies that might have worked wonders in the past are not as relevant today, and new approaches to running profitable mining operations need to be found.’ One significant practice the mining industry had during the last commodities supercycle (2003 to 2011) was chasing volume at any cost; absolute output was deliberately prioritized over productivity considerations (Goldsmith, 2013). Lazenby contends that in the face of falling and volatile commodity prices, many mining majors ‘across all commodity groups are currently grappling with sagging profits and low company valuations. This is often regarded as the result of the were in pursuit of growing their output at all costs in a high commodity price environment.’ Lee Hodgkinson, KPMG’s Canadian mining industry leader and quoted by Lazenby, says that ‘mining companies are now trying to find the right balance between optimizing current operations and preserving their agility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins [whilst] lower grades of ore are inflating production costs. Mining companies need to look at the business with fresh eyes, and develop strategies to attract equity capital as it seems clear that some of the traditional approaches to the mining business are simply not working anymore."

Jan 1, 2015