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By R. D. Lawrence

"Suggestions have been made that the appraisal of mining assets using discounted cash flow techniques should be based solely on proven and probable reserves in reliance upon the widespread international recognition of uniform resource definitions. Following a review of general accepted valuation principles, a survey of the literature and, most importantly, a review of real transactions in the open market, it is clear that valuators should not be constrained by the growing acceptance of modern mineral resource codes. On the contrary, valuation practitioners should be encouraged to examine all classes of mineralization and, after making due allowance for risk, to utilize all mineral resources as a basis for determining fair market value.INTRODUCTIONGreat strides have been made recently in achieving an international consensus on mineral reserve and resource definitions and classifications. The Australasian JORC code, the CIM code in Canada, the SME proposal in the United States and even a proposed code from the United Nations have all brought the objective within reach.Unfortunately, this success has led to another problem for mineral valuators. Certain securities regulators, tax collectors and their ilk have begun to expound on the opinion that discounted cash flow projections carried out to calculate net present values that would form the basis for a valuation determination should be based solely on proven and probable reserves. The author disagrees with this position. This paper examines the subject from four points of view:"

Jan 1, 2003

By Sidney Katell

Several systems have been proposed for the production of synthetic crude oil from oil shale. An economic analysis of one proposed system is presented in this paper. An oil shale complex to produce 100,000 barrels per calendar day of semirefined crude oil will require a capital investment of $426,216,400. This investment includes mining, retorting, intermediate pipelining, and partial refining. A selling price of $3.74 per barrel of product will be necessary to maintain a discounted cash-flow rate of 12 percent.

Jan 1, 1971

By C. T. Bischoff

Introduction Air conditioning is a term which has come into common use only during our generation. By definition, it means the positive and accurate control of temperature, humidity, movement, purity, and component constituents of the atmosphere within an enclosure. Claiming such results for Noranda's ventilation system, or for that of any other large mine, at present would be an idle boast. However, we are working toward that end with considerable success. Modern underground ventilation at Noranda dates back about six years. The later development of air conditioning is in its fourth season, but still in the experimental stage. Various ingenious methods have been devised to cool mines which, because of climatic or geological conditions or depth, are excessively warm. A few installations have been made to warm intake air during the winter months where this is necessary. However, the method currently in use at Noranda is unique in that it accomplishes both ends by one process. This method utilizes the freezing and melting of ice to equalize year-round temperatures. Mining Methods While a discussion of mining methods at Noranda is not proposed in this paper, a brief summary may be in order. The Horne mine of Noranda Mines, Limited, has been developed by six shafts, four of which are now active. The most recent, an internal shaft, extends to 6,000 feet below surface, but all of the ore mined to date has come from above the 3,000-foot level. Figure 1 shows a model of principal ore bodies. The area mined is relatively small in plan, considering its vertical extent and the tonnage per vertical foot. Most of the ore lies within an ellipse about 600 by 1,000 feet. While this has certain advantages, the mining of such massive orebodies has presented many problems.

Jan 1, 1947

By Basar Arioglu, Mustafa Tanriverdi, Seok Jae Seo

"INTRODUCTION Istanbul is a unique megalopolis connecting two continents. Population growth and economic development require permanent solutions and continuous investments on the transportation infrastructure. While the average population growth rate in Turkey is around 1.3% per annum, Istanbul is growing at an even faster rate of more than 1.5%. Even more striking is the fact that car ownership in Istanbul is increasing 5% a year, which is four times faster than the population growth. Although Istanbul Metropolitan Municipality (IMM) has worked persistently to improve the quantity and quality of the public transportation system in the city through, in particular, extending the available rail system network, the need for extra roads has always fallen behind demand. To make things worse, Istanbul is divided by the Bosphorus Strait, the large waterway connecting the Black Sea to the north and Marmara Sea to the south, which leads to the Mediterranean. This waterway is crossed via two suspension bridges, the Bosphorus Bridge built in 1973 and the Fatih Sultan Mehmet Bridge built in 1988. Current daily traffic across the bridges is around 450,000 vehicles per day. Ever increasing cross-Bosphorus traffic demands require other routes to be in place a soon as possible. While a third bridge farther north is currently under construction, yet another tunnel crossing is coming to the end of construction and is planned to be in service by December 2016. Being implemented under a Build-Operate-Transfer (BOT) model, Istanbul Strait Road Tunnel Project (ISRTP, the Project) has been under the spotlight not only because of its distinctive technical characteristics but also because of its robust business model, exacting financial and legal arrangements, diverse stakeholders and challenging organizational management structure. The following paragraphs offer an overall view of the Project from inception to where it stands now and extend to the imminent operational phase, touching lightly on all major aspects of this challenging journey."

Jan 1, 2016

By H. William Ahrenholz

The coal industry had another prosperous year in 1966. Since the turn of the decade, production has been climbing at an average rate of 6% per annum. Although the fast pace slackened somewhat, 1966 production showed a gain of almost 3 % over that of 1965. An impressive record can be drawn from the fact that output per man-day in 1966 was more than twice that of the early 1950's, and more than three times that of the early 1940's. And even though man-power requirements lessened, those men retained by the industry worked longer hours and benefited through higher hourly pay rates. However, cost to the customer increased a little. Such statements can only be made for a healthy industry -one that is constantly improving its efficiency. Coal currently provides more than 25% of the total U.S. energy output. About 50% of all U.S.- mined bituminous coal goes directly to the electric utility market. It should be noted that, now, well over one trillion kwh of electricity is generated annually. Dependence of the giant electric utility industry on coal is based on economy and an abundant, dependable supply of this fuel.

Jan 2, 1967

By Habib Zughbi, Paul Zulli

"A key step towards sustainability in iron and steelmaking is to optimise the use of raw materials and energy consumption, and consequently minimise CO2 emissions. Models based on a Process Integration (PI) approach play a key role in evaluating various scenarios and the impact of introducing changes in raw materials and operational conditions on the overall energy consumption and CO2 emissions. BlueScope uses a PI based comprehensive model for its Port Kembla Steelworks (PKSW), called the Integrated Steelworks Energy and Emissions Model (ISEEM). ISEEM is tightly coupled to the configuration of PKSW. It is based on mass and energy balances as well as thermodynamic relationships. ISEEM is a steady-state model and is used to predict overall and detailed unit-by-unit energy consumptions and CO2 emissions. It is also used for plant-based scenario modelling. This paper investigates the impact of major changes to PKSW configuration, including the shutting down of a blast furnace and cokemaking battery, on the energy consumption and CO2 emissions of the plant. It discusses some of the issues involved in updating the model and some identified opportunities."

Jan 1, 2015

By Eldridge Haynes

IF you ask the average American to define 'total war' he is apt to fumble for an answer. But in Britain everyone knows the answer, because Britain has mobilized its total labour force, including women. If we were to match, proportionately to our population, Britain's mobilization of labour, we should have 60,000,000 people working full time in the armed services, civilian defence, and war industries. Actually we have fewer than 35,000,000 so employed. In Britain two out of every three persons between the ages of fourteen and sixty-five are so engaged. For the first time in the history of any democracy Britain conscripts women for service in the army, navy, and air force. Two hundred thousand British women have been conscripted for the army, known as ATS, meaning Auxiliary Territorial Service. There are more women in the air force than the total personnel of the RAF at the outbreak of the war and almost all of the land base jobs of the British navy are now handled by women. In addition to cooking and office work, Britain's women soldiers and sailors are driving trucks and motorcycles, repairing motor vehicles, packing and repacking parachutes, installing, inspecting, and maintaining gun equipment and ammunition of combat planes after each raid, raising and lowering barrage balloons, forecasting weather, manning harbour craft, sending and receiving radio messages. A normal ack-ack unit is composed of 229 women and 189 men. The women man the gun height finders and predictors, give bearings, and signal to fire.

Jan 1, 1942

By W. C. Risley

IN the year 1933, workings at the No. 12 colliery, New Waterford, of the Dominion Coal Company, Limited, had advanced to a point where additional ventilation would soon be required. Furthermore, development of the mine was being .made to practically double the output of coal. Consequently, authorization was given to sink a shaft to the workings. The location selected is on the west side of the mine, about one and a half miles from the slope mouth and on the Low Point shore, some 250 feet from high-water mark. The cliff at this point is 40 feet high, with the land rising on a slope of about 5 per cent to the shaft. Figure 1 shows the location with reference to the colliery workings. The strata through which the shaft was to be sunk were pretty well known from diamond-drill borings previously made, and it was believed that water would be encountered to a depth of at least 250 feet to 300 feet. It was planned, therefore, to seal-off the water by the pumping of cement grout under high pressure. This method was considered to be the most economical means of handling the water during sinking, and would also result in a permanently dry shaft. Figure 2 shows a cross-section of the strata. The permanent shaft hoist and fan were to be electrically driven, which would necessitate the construction of a transmission line between the colliery and the shaft; therefore, it was arranged that the sinking equipment would have electric drive. As all equipment, materials used in construction, and supplies were to be hauled by truck, a roadway 1,800 feet long was required from the main highway to the site, and as heavy loads would be hauled during the fall, winter, and succeeding spring, this road was ballasted with 18 inches of clinkered material obtained from a burned culm bank one and a half miles distant. Actual field work was begun by the Company's own forces early in October. Work preparatory to sinking-in addition to the roadway and trans-mission line-included the construction of the reinforced-concrete shaft collar and fan drift connection; the permanent timber headframe (which was to be used also as the sinking headframe); the permanent reinforced-concrete building to house the shaft hoist and fan drive; and the erection of temporary buildings and installation of all equipment for sinking and lining the shaft and for cementation.

Jan 1, 1936

By Thomas T., Read

T HE preceding chapter has recorded the initiation of mineral industry education during the period 1890-1910 in numerous institutions that had not previously offered it. It should also be emphasized that in many institutions where instruction had begun before 1890, as recorded in earlier chapters, but had not yet become firmly established,, this period was one of marked growth and development. This was not universally true, however, for at the Universities of Pennsylvania, Michigan, Illinois, Wisconsin, Washington (St. Louis), Iowa, Vanderbilt and Tennessee, and at the Polytechnic College of Pennsylvania, mineral industry instruction was being dropped during this period, instead of gaining in strength. It is necessary to emphasize this, because writers on the subject have not infrequently , attempted to make a much too simple correlation between mineral -discovery or production and the intensity of student interest in mineral industry curricula. It would naturally be true that periods of large mineral production would, in general, coincide with cycles of business prosperity, and the latter are conducive to starting new ventures, educational as well as business. It should be equally evident that opportunities for business and professional success might, in such periods, appear to increase at a more rapid rate in industries other than mineral, or in the utilization of minerals rather than in their production. The author has not been able to perceive any simple and clear relation between interest in mineral industry education and mineral discovery, production, and utilization, or general business prosperity. On the contrary, the more the problem is studied the more complex the factors involved in it appear to be. In a later chapter an attempt will be made to analyze them in more detail.

Jan 1, 1941

By Jennifer S. Riefenberg

The U.S. Bureau of Mines conducts basic and applied research related to predicting, eliminating, and/or controlling rock bursts in underground hard-rock mines and coal bumps in underground coal mines. An important element in this research is the development of a reliable and efficient microseismic source location technique. This report presents the results of a Bureau study to develop and evaluate a new algorithm to locate microseismic events based on the Simplex method, a powerful linear programming technique. The technique was tested on both field data and simulated data. Microseismic event source locations obtained with this new Simplex-based algorithm were shown to have less error than those locations obtained using a least squares method. It was concluded that the Simplex approach to source location of microseismic events can be used effectively in microseismic monitoring.

Jan 1, 1989

By C. F. Gleeson

"Geochemical stream-sediment reconnaissance can be a useful exploration tool from the point of view of rapidly and cheaply evaluating the mineral potential of an area. This is particularly true of rugged and mountainous areas such as are found in Gaspé. For the past two years, SOQUEM has been carrying out such surveys over favorable geological regions in the Appalachians of northern New Brunswick and Gaspe. To date, about 4,000 square miles of terrain has been systematically covered by reconnaissance geochemistry. Jeeps have been used as a means of transportation in the easily accessible areas and a helicopter equipped with a winch has been used to lower crews into the more difficult-to-reach regions. Such surveys have been successful in finding metallic mineralization which otherwise might not have been detected.Electronic computation of analytical information has been used to construct regional metal maps, rolling mean maps and residual metal maps. These maps have helped in evaluating anomalies, in relating the regional geo-chemistry to the regional geology and in comparing the distribution patterns of metals. To date, some 30,000 stream-sediment samples have been collected from the Gaspe region and analyzed for Cu, Pb, Zn and Mn. These analyses are being subjected to computer analysis."

Jan 1, 1969

By G. W. Josephson

JUDGING by the progressive atmosphere prevailing in the nonmetallic mineral industries during the past year, postwar conditions were healthful though inflationary. Demand for most industrial mineral products has been exceptionally high and many new production records were attained. Severe shortages of some commodities existed, especially building materials and fertilizers. Production costs and prices increased and profitable operation was general. Under these conditions expansion programs were the order of the day. Ample funds were available to finance the purchase of good equipment; and, as wages and other operating costs were increasing, primary emphasis was placed on attaining maximum efficiency in new installations. These efforts were hampered by shortages and slow delivery of desirable equipment, so compromises in design were often necessary. However, on the whole, production practice improved.

Jan 1, 1948

By James P. Sloss

WHAT is the likelihood if any-that a real gold mining industry will be developed in the southern Appalachian region? Has the increase in the dollar value of gold from $20.67 to $35 per ounce potency to turn the trick? Suppose it be assumed that the price of gold will, at worst, not recede, and that the cost of digging ore and treating it of which the average level of commodity prices and wages is a fair index-will, at most, not exceed that prevailing in 1926. One may or may not accept these as reasonable assumptions; but one must arbitrarily remove some of the potential variables if one is to get anywhere on a problem like this. As a matter of fact, this article is not going to venture a conclusive answer to the question that has been posed; but it will endeavor to present some of the factors that have a bearing on the problem. The writer spent ten days visiting a dozen properties in Virginia and the Carolinas early in April, 1935, and in doing so got a first-hand slant on mining conditions in the domain of King Cotton.

Jan 1, 1935

By Arthur S. Dwight

THE last decade of the 19th century was a peculiarly interesting one in. the annals of American metallurgy, especially as concerns the lead and copper- smelting industries; and it may be interesting to review briefly one of the outstanding incidents of that period, the development of the mechanical roasting furnace. I shall not pretend, in these reminiscences, to give with absolute accuracy the sequence of events or dates, nor to present a complete history of the period, but shall seek merely to 'sketch a more or less impressionistic picture with some of the underlying facts and causes as the recollection comes back to me and then point out how the present-day practice grew out of those activities. My acquaintance with the developments in Montana was based on occasional visits and general collateral information, but in Colorado I lived through the episode and was of it.

Jan 1, 1921

By AIME AIME

A discussion of the Papers by Prof. H. Hubert, Liege, Belgium ; Mr. Tom Westgarth, Middlesbrough, England ; and Mr. K. Reinhardt, Dortmund, Germany, presented at the London Meeting, July, 1906, and printed in Bi-Monthly Bulletin, No. 12, November, 1906; pp. 910 to 930, 971 to 987, 1037 to 1163. MR. ADOLPH GREINER, Seraing, Belgium :-I have nothing special to add to Professor Hubert's paper except to say that there are some little things that it would be well to have cor-rected when the paper comes to be published. In dealing with the thermal efficiency of the engine, you will find that the 29.84 per cent was a very high one. Professor Hubert has forgotten those engines built under the Cockerill type, but he has referred to them in Appendix II. At our works at Cockerill we have built 63 engines, giving 63,000 h.p., and the other companies who have received licenses have built 113 engines, making 103,000 h.p., and aggregating 176 engines and 166,000 h.p. Eight years ago I had the pleasure of giving to the Institute the results obtained up to that time. Since then a good many engines have been constructed. In 1898 I thought a blast-furnace producing 100 tons of pig iron would allow 3,000 h.p. Professor Witz and Professor Hubert show that with the same production of pig the new engines take 3,800 h.p. out of the gas. At present at Cockerill we make 700 to 800 tons of pig iron per day, and we hope to have 26,000 h.p; in a few years. At present we have only half of that in gas-engines, but we hope to have in five or six years all the gas out of these furnaces to the number of 25,000 or 26,000 h.p. MR. Tom WESTGARTH, Middlesbrough, England:-My contribution is not a paper in the ordinary sense of the word, because I am sure you will agree with me that what I have written is only supplementary to the other two papers. The notes are schedules of the larger-size gas-engines built by the engine-makers, of 500 h.p. and upwards. If you look at the schedules you will find that in England gas-engines have be-

Jan 1, 1907

By Jürgen Kretschmann

The European climate and energy framework for 2030 is highlighting the reduction of man-made CO2 by increasing the use of renewable energy to mitigate climate change. In this spirit, Germany has decided to erase the coal use as an energy source by 2038 completely. Inevitably, this strategy promises a feasible, responsible, and sustainable post-mining management, because 200 years of coal mining have created numerous challenges necessary to tend to once the mining ends. Thus, the Research Institute for Post- Mining (FZN) at the TH Georg Agricola University in Bochum, Germany, has developed a holistic approach to meet these postmining challenges including further expertise present at our university. Here, the four strategic research pillars are (1) technical geoecology and hydrogeology to avoid and mitigate risks underground, (2) geomonitoring to evaluate and protect the surface, (3) industrial heritage preservation and engineering to secure and reuse brownfields such as mine sites, and (4) economic transformation planning of mining regions to enable a prosper future for generations to come. In all efforts, we aim to achieve the fundamental goals of the UN to deal with the resources of our planet responsibly and sustainably. Furthermore, we are synergizing increasingly with national and international networks in the interest of social, economic, and environmental stakeholders.

Jul 23, 2020

By John Birkinbine

Secretary's Note.—In printing this paper in the present volume, the figures given in the pamphlet edition have been brought more nearly up to date, the product of 1899 being in many instances inserted. Iron-Ore Resources. In a paper presented to the Institute in 1897,* I discussed the iron-resources of the United States as then developed, calling attention to some principal sources upon which other countries depended. The following statement will give a general idea of the amounts, as compiled from the latest official records, of ores won, and metal produced, in the nations which are important contributors to the world's output. Unfortunately these are not all contemporaneous, since in some countries the statistics do not appear until after one or more years. The statement covers not only pig-iron and iron-ore, but also manganese-ore —the manganese mined being principally used in the production of spiegeleisen or ferro-manganese, and these alloys being generally included in the pig-iron output. Table I, which epitomizes the present situation, shows respectively the countries and the quantities of iron-ore and man-

Jan 1, 1901

Societal influences, needs, and uses for recyclable materials are becoming increasingly important business and economic factors in the traditional natural resource companies. Several metals (such as steel, aluminium, zinc, lead and cadmium) are amenable ro recycle which eliminates solid waste generation and decreases the depletion of natural resources. In recent years, the non-ferrous industries have begun to recycle more materials and the next decade will see even larger recycle efforts. In addition to the traditonal recyclable materials, existing metallurgical plants are, or should be, able to handle and recycle materials viewed as 'hazardous'. Unfortunately, some national and regional regulations hinder, and in some cases prevent, the recycling of certain materials. Zinc Corporation of America (ZCA) is currently the largest producer of zinc metal in the USA and one of the world's largest producers of value-added zinc products. Over the last few years, ZCA has become one of the world's largest recyclers of zinc from various diverse materials. ZCA considers these recyclable materials as valuable 'land mines' that provide economic alternatives to the depletion of natural resources while serving society in the minimisation of solid waste disposal. Using the current production facilities of ZCA as a model, this paper overviews the recycling of zinc-bearing materials with special emphasis on: 1. the amenability for recycle within ZCA's pyrometallurgical and hydrometallurgical operations, 2. the quantities and economics of recycle, 3. the problems of recycling hindered by current national and regional regulations, 4. the concepts of total recycle rather than just recovering zinc while generating a modified solid waste, and 5. the motivators for recycling.

Jan 1, 1993

By AIME AIME

AMONG the European nations Germany is the center of interest economically as well as politically, and of prime importance for Europe as a whole is Germany's capacity to produce mineral products for armament and for export in exchange for the import of the essential supplies to maintain its industries. So far as minerals are concerned, Germany is worse off than any other great power except Italy, and deficiencies are being met by attempts to increase output from local deposits and by greater use of substitutes derived from domestic raw materials to replace imported metals, petroleum products, and other minerals.

Jan 1, 1939

By R. Alford

In the modern world of demolition safety is paramount and unnecessary or unquantifiable risks are not accepted (FasterCapital, 2024) and all risks must be kept As Low As Reasonably Practicable (ALARP) (BSI, 2017). This principle has led to a huge reduction in deaths in the last 50 years and the statistics continue to improve although this is starting to plateau (Beal, 2007). Under normal circumstances, this is now simply part of the normal way work is done and systems are in place to ensure both safety and economic profits are assured. What happens when the environment is less controlled and risks are unknown, such as after a natural disaster, war, an accident or a stand-up from a failed demolition attempt? A dangerous structure cannot responsibly be left alone with a fence around it so some action must be taken, but how can this be done safely and responsibly? An incident in Didcot, England in which half of a power station’s boiler house being prepared for an explosive demolition collapsed suddenly, killing four men in 2016 provides a useful case study of how technology, creativity and planning can be used to conduct complex demolition fully remotely to avoid any further risk to life.

Jan 21, 2025