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By C. Musingwini, A. S. Nhleko

"Since the Global Financial Crisis (GFC) in mid-2008, capital has been more difficult to access. Mining projects must contend with projects from other industries for scarce capital. A decision to invest available capital in mineral projects requires that valuation be conducted to assess the expected return on the projects. The discounted cash flow (DCF) analysis is generally applied for the valuation of mining projects, whereby future cash flows are discounted to present value using an appropriate discount rate. The discount rate significantly affects the outcome of a valuation. Economic and finance theory provides tools to calculate discount rates. The discount rate must account for factors such as the risk and stage of development of the mineral project; hence the appropriate discount rate to utilize in a project is often a subject of debate.The discount rate is the weighted sum of the cost of debt and equity. There are several methods for determining the cost of equity. This study considers the commonly applied Capital Asset Pricing Model (CAPM) and Gordon’s Wealth Growth Model because of their simplicity and availability of parameters required to estimate the cost of equity. This study explores how differences in the cost of equity obtained by these two methods can be explained for a mining environment. Data for empirical analysis were collected from the I-Net Bridge, McGregor BFA, and Bloomberg databases. It was found that Gordon’s Wealth Growth Model provides better estimates of the cost of equity compared to the CAPM under depressed market conditions. Therefore, this research recommends that Gordon’s Wealth Growth Model be used to estimate the discount rates for mining projects during periods of depressed market conditions."

Jan 1, 2016

By M. Somerville, S. Sun

The liquidus temperature and viscosity of a range of melter slags produced in South Africa were determined. Drop-quench experiments were carried out on the supplied plant samples to determine the liquidus temperature and phase relations at sub-liquidus temperatures. The temperature measurement range covered 1300°C to 1630°C. Results from these experiments show liquidus temperatures for the melter slags to be in excess of 1500ºC with the chromium containing spinel as the primary crystalline phase. At lower temperatures, an olivine or pyroxene phase co-existed with the spinel phase. The viscosity of the slags was determined over a temperature range of 1350 to 1550°C, under a controlled atmosphere. Results show two orders of magnitude variation in the viscosity (0.2 to 20Pa s) with strong effects of slag chemistry and temperature. Slags with lower SiO2and Cr2O3concentrations were more fluid. Slags with the lowest FeOx and highest SiO2concentrations were the most viscous. These observations are in accord with general behaviour of silicate slags. While the presence of a spinel phase may have an effect on the viscosity of the melter slags, results obtained to date indicate a much stronger effect due to the presence of an olivine or pyroxene phase at lower temperatures. Keywords: phase equilibria, liquidus, viscosity, slags, olivine, spinel, pyroxene

Jan 1, 2004

By John V. Simmons, Peter J. Simpson

Excavated slopes in open pit coal mines are designed to be as steep as possible consistent with stability and safety requirements. Slope failures occur for many reasons, including oversteepening. This paper is concerned with slope design and excavation experience in the Bowen Basin coalfields of central Queensland (Figure 1), [ ]

Jan 1, 2006

By M. Syamujulu

In 1994, Nkana smelter commissioned a multimillion US Dollar Chilean Teniente converter (CT) in its operations in order to improve its smelting technological base. The main objective was to reduce the overall smelting energy costs and increase the sulphur capture for sulphuric acid production to support the company?s leaching operations at Nchanga tailings leach plant. A decade of CT operations have since ensued following its installation and start-up. This paper provides a technical and operational audit of the performance of the CT in the first 10 years of its operations at Nkana smelter.

Jan 1, 2005

By T. A. Muhlare

The use of electrolyte additives to smoothen cathode deposits during copper deposition is practised worldwide. These additives absorb on the cathode surface and take part in the electrochemical crystallization process. However, these additives also affect the quality of the cathodes when they are inadequately controlled. Electrolyte additives used by Palabora are glue, thiourea, Avitone and chloride. Their effects were determined on cathode quality, the size of the current density region that gives the desired compact morphology, and current efficiency. This was done in a small-scale cell. Small cells have different hydrodynamics from industrial-scale cells, which makes it difficult to simulate the operation of industrial cells in a laboratory. The approach used here was to use a rotating cylinder cathode to attain controlled hydrodynamics. The rotation speed was chosen to give a diffusion layer thickness that is similar to that of an industrial-scale cell. It was shown that even fairly small changes in the additive levels can significantly affect the cathode morphology, and the current density range over which this morphology can be obtained. Keywords Copper, electrorefining, glue, thiourea, avitone and chloride.

Jan 1, 2011

By M. Sanchez, C. Morales, J. Palacios

The slag produced in the Peirce Smith converters at the Ilo smelter of Southern Peru Copper Corporation has shown a wide range of magnetite content, which introduces an additional problem in the smelting units due to materials? recirculation. However, the operation data analysis and the application of thermodynamic concepts have made it possible to produce slag with magnetite content between 18 and 20%. The results have suggested that matte grade enhances magnetite formation while silica controls its precipitation, and they are also influenced by the increasing temperature of the slag. Thus, in order to obtain the required magnetite content in the slag, matte grade is gradually enriched in equilibrium with slag containing from 25 to 32% silica.

Jan 1, 2004

By A. Tor, M. Borowski, N. Szlazak, D. Obracaj

This article presents possibilities of reducing methane emission to the atmosphere in working mines in Jastrzebie Coal Company by means of proecological solution. They form a new approach towards the problem of rational and effective use of natural resources both in economical and environmental respect. Power and thermal energy for underground air conditioning in mining excavations are produced from the methane, which is drained out of the mine for safety reasons.

Jan 1, 2003

By P. C. Carrasco

Knowing the origin of the relevant and irrelevant components of the nugget effect is essential to optimize the process under study. This paper describes the causes of the nugget effect and, its dependency on the sample support, sampling density, and on the QA/QC procedures. Several examples of natural and ?human? nugget effect are given. A method to estimate the magnitude of the relevant and irrelevant components is suggested. Finally, the economic consequences of misunderstanding the nugget effect are analysed.

Jan 1, 2010

By S. Read, G. Cook

The Hoek-Brown failure criterion is often applied to a wider range of rocks than the isotropic rock masses to which it is strictly applicable. This paper evaluates the patterns of defects in rock masses using spherical projection contour plots of samples of randomly-generated orientations and datasets from mapping of New Zealand closely-jointed greywacke rock masses. Two indices from the contour plots - the area within the 1% contour (A1%) and maximum concentration (Cmax) are introduced for distinguishing uniform (isotropic), random or regular defect patterns. The indices provide a potential extension to current guidelines on the use of the Hoek-Brown failure criterion. The paper also outlines kinematic checks to assess the influence of defect clusters on rock mass strength. Das Hoek-Brown Bruchkriterium, das strikte nur fuer isotrope Gefuege gilt, findet oft einen viel weiteren Anwendungsbereich. Diese Arbeit bewertet diverse Dispersionsmuster der Defekte einer Gesteinsmasse. Wir vergleichen in sphaerischer Projektion (1) Beispiele zufaelliger Orientierung von Defekten und (2) Felddaten ueber neuseelaendisache engstaendig geklueftete Grauwacken. Die Projektionen werden durch die Indices A1% (Flaechenanteil des 1%-Bereichs) and Cmax (Hoechstkonzentration) gekennzeichnet, welche isotrope, zufaellige und regulaere Muster unterscheiden und die aktuellen Richtlinien zum Hoek-Brown Kriterium ergaenzen. Wir testen ferner Defektgruppen der Gesteine kinematisch auf ihren Einfluss auf Massenfestigkeit. Le critère de rupture de Hoek-Brown est souvent utilisé sur une variété de roches plus étendue que les masses rocheuses auxquelles il est strictement applicable. Ce travail évalue la distribution des défauts au sein d'une masse rocheuse en utilisant une projection sphérique des contours d'échantillons d'orientations générées aléatoirement et de données de cartographie provenant de greywackes à joints rapprochés de Nouvelle Zélande. Deux indices de cette projection - la zone des contours en dessous de 1 % (A1%) et celle de concentration maximum (Cmax) sont introduites pour distinguer les répartitions uniformes (isotropes), aléatoires ou régulières. Ces indices fournissent une extension potentielle aux règles d'utilisation du critère de rupture de Hoek-Brown. Ce travail utilisent également les contrôles cinématiques pour évaluer l'influence des groupes de défauts sur la résistance de la masse rocheuse.

Jan 1, 2003

By P. M. Cole

An unprecedented expansion of the global zinc industry is currently under way. While most new projects and plant upgrades remain committed to traditional processing technologies, recent advances in zinc solvent extraction (SX) have created opportunities for new process routes for both primary and secondary materials. The first commercial plant to use zinc SX for the mainstream processing of a low-grade ore is under construction and promises to become one of the lowest cost zinc producers. Several other oxide and sulphide projects in various stages of feasibility are considering the inclusion of SX in their process flowsheet. Zinc SX has also proved advantageous in the reprocessing of secondary materials, particularly for the treatment of zinc residues and furnace dusts. This review focuses on recent installations and projects underdevelopment that feature zinc SZ as the key separation step.

Jan 1, 2002

By Z. Zhang, R. G. Reddy

Experimental and thermodynamic modelling studies on the structure of alkali borate melts and properties are discussed. A thermodynamic structure model for alkali borate melts is developed to describe the distribution of structural groups in the alkali borate melts as a function of composition. A qualitative interpretation for the boron anomaly in viscosity has been proposed, which regards the boron anomaly as a manifestation of the various antithetical effects caused by the introduction of alkali oxide into boric oxide. It has been found that the viscosity of alkali borate melts increases or decreases according to the changes in rigidity and spatial connectivity of the glass network structure, which is the function of temperature and composition. These concepts with some key examples are discussed in relation to their usefulness and practicality in industrial slags. Keywords: alkali borate melts; structural model; activities; structural groups; viscosity;

Jan 1, 2004

By J. Lehmann, H. Gaye

A brief review of Computational Thermodynamics software concerning the modeling and prediction of reactions involving metals, slags and fluxes is presented. Their application for various steelmaking treatments is discussed. Examples concern phosphorus removal in BOF and EAF, ladle steel desulfurization, and specific treatments for inclusions control in semi-killed or Al-killed carbon and stainless steels.

By Dziurzyn&apos, W. ski

This article outlines the results of a computer simulation reproducing the transport of a mixture of air and methane following the outburst on 25 November, 2005 in transport gallery D-6, bed 409/4, at the ?Zofiówka? hard coal mine. Based on a mathematical model, numerical method and boundary conditions from the disturbance caused by the outburst, the Ventgraph system of computer simulation programs was adopted for the study. We performed a computer simulation of the influence exerted by the outburst on the propagation of the air and methane mixture, and compared the results of this simulation with those of the actual event as registered by sensors of the mine monitoring system. A validation of the model allowed us to present temporal changes in the concentration of methane and air along flow routes. Keywords: mine ventilation, outburst of methane, numerical simulation, monitoring system.

Jan 1, 2008

By J. -Y. Jia, G. -B. Qiu, C. -G. Bai, D. -F. Chen

Due to the great importance of the smelting process, it is essential to establish a calculation model on the viscosity of the slag system containing titania. In this paper, the calculation models of mass action concentrations and viscosity for the CaO-SiO2-TiO2slag system have been established according to the coexistence theory of the slag structure, as well as the referenced viscosities ofCaO-SiO2-TiO2at different temperatures and TiO2compositions. With the two models, corresponding calculated programs are made by means of programming language Matlab5.3, and the curves of viscosity of the TiO2concentration (?TiO2/%) at 1400°C, (R=0.9~1.0) are plotted. The results show that mass action concentrations of TiO2increases with increasing percentage ofTiO2, while the viscosity of CaO-SiO2-TiO2system is decreased. The results show that the models are in good agreement with the experimental and referenced data. They also shows that the models are reasonable for the CaO-SiO2-TiO2slag system. Keywords: coexistence theory; CaO-SiO2-TiO2slag system; viscosity ; calculation models.

Jan 1, 2004

By S. S. Makgato

In this study, coke oven tar additions over a range of 0?8 wt.% were evaluated as a possible substitute for imported coal fractions. The coke oven tar used was collected from tar decanters in the byproducts section of the coking plant. The moisture content in the tar varied depending on the residence time and water carryover from the coke oven tar separators to the storage tanks. Moisture contents of 1 wt.%, 3 wt.%, and 6 wt.% were investigated in order to evaluate the effect on coal blend, carbonization, and coke properties. At 6 wt.% moisture content with 6 wt.% coke oven tar, although the coke quality improved the yield showed a 4% decrease. On the other hand, 1 wt.% moisture content with coke oven tar of 6 wt.%, increased the yield by 1% and the coke quality improved. However, the latter process was characterized by an excessive increase in wall pressure and pushing energy, both of which are detrimental to the oven walls. The optimum moisture content in coke oven tar was found to be 3 wt.% with a coke oven tar addition of 6 wt.% in the coal blend. With these conditions, the coke properties improved and wall pressure and pushing energy were acceptable. However, a decrease in coke yield of up to 2% was observed. Despite this, coke oven tar addition is considered to be a viable option based upon economic factors of a reduction in the quantity and cost of imported coking coals that is required to achieve the same optimum final coke product. Keywords coal substitution, coke oven tar, tar moisture, coal blend, coke, coke quality.

Nov 1, 2013

Publications on hard rock tunnel support design in the South African mining industry have originated primarily from the goldmines during the past 50 years. Little has been published to date on the platinum and chrome mines of the Bushveld Complex. This paper covers the search for a suitable design methodology for off-reef tunnels at Impala Platinum Mine, situated on the Western Lobe of the Bushveld Complex. The fall of ground accident statistics for off-reef excavations of the mine are presented and the available rock mass quality evaluation systems are reviewed. The Q-Tunnelling Quality Index (or Q-Index) is selected because it assesses the important driving factors behind falls of ground at Impala. Two off-reef excavations are evaluated using the Q-Index, and it is shown that minor modifications are required for implementation at Impala. It will take some time before support design throughout the mine is based on the outcome of proper geotechnical investigations based on the Q-Index. Widespread implementation of such support designs should help to solve the fall of ground problem in off-reef excavations while at the same time reducing support costs.

Jan 1, 2002

By Q. P. Campbell

The high final total moisture content of fine coal after mining and processing is one of the major reasons that this resource is not extensively used in subsequent power generation, combustion, or other conversion processes. Some coal products, like export coal, may be subjected to a variety of environmental conditions during transport and storage, such as temperature and humidity. To understand the mechanisms by which moisture is attracted and held on and within fine coal particles, further information is needed regarding the processes occurring at the coal surface. In order to determine the correlation between physical coal properties and its moisture adsorption and desorption characteristics, a series of sorption experiments were conducted on various coal samples under climatically controlled conditions. Equilibrium moisture data was collected while changing the temperature and humidity. This data was correlated to coal properties such as particle size, porosity, maceral composition, and mineral content. All the coals that were studied were medium-rank bituminous coals. It was found that the best predictors for moisture adsorption and desorption were the mineral and inertinite contents. Keywords moisture, adsorption, desorption, fine coal, surface properties.

Nov 1, 2013

By Bjørn Nilsen, Werner Stefanussen

The construction of the Guaigui Multipurpose Project includes a 74 metre high concrete face rock fill dam, a 350 metre long diversion tunnel and a 350 metre long spillway tunnel. The topography in the project area is very steep, and the rock masses are characterized as soft rocks. The stability of the 80 to 100 metre high dam abutments and the excavation of the tunnels in soft rock conditions have caused various challenges and problems to be solved. Limited pre-investigations have called to a great extent for estimation of parameters for the stability calculations based on experience. The preliminary calculation of the stability of the planned rock slope above the spillway intake platform has been carried out by conventional partial factor methods and by use of a computed based Slide Program. The two methods of calculation give different results , and that rock support is necessary to obtain an acceptable factor of safety for a slope inclination of 52o. The input parameters for the rock mass characteristics need to be verified for the permanent calculations.

Jan 1, 2006

This paper pays tribute to the pioneers in geomechanics, and addresses some of the most pressing issues of our time related to deep mining, and how to mitigate these issues. Solutions developed by our predecessors seem to have reached their limits as mines continue to go deeper. The International Society for Rock Mechanics (ISRM) guidelines for rock mass characterization for excavation design also require re-thinking to reflect current knowledge and experience. Thus, a whole new approach is urgently required to increase mine safety and productivity. The paper will draw on the challenges and experiences in medicine and science that have been overcome through genuine collaboration, advances in technology, and impressive funding, which can be adopted to provide solutions to contemporary geomechanics challenges for increased safety and productivity as mines continue to go deeper.

Jan 1, 2014

By M. Magnelöv, Du Sichen, U. Sjöström

An experimental study has been performed to investigate the behaviour and separation of inclusions at the interface between steel and slag. The study has been limited to liquid inclusions because they can be a potential problem in transient situations such as ladle changes in continuous casting of steel. Model experiments with water and silicon oils have been carried out to study the kinetics of separation of simulated inclusions at an interface. The properties of the inclusions and the slags have been varied by using different oils with different viscosities, densities and surface tensions. The effect of temperature of the liquids has also been examined. Measurements of the terminal velocity, rest time and the behaviour of the liquid inclusions at the interface have been recorded using a video camera. It has been found that the inclusions reach their terminal velocity early in the vessel and the experimental velocities differ somewhat from the values evaluated using ?intermediate law?. The results from the experiments have shown that the size of the inclusions has no appreciable influence on the rest time. Droplets of AK50 oil have been found to have considerably long rest time. A water film surrounding the droplet has been expected to be the main reason for the long rest time. The present study has also shown that the viscosity of the oil has certain effect on the rest time, but only to some extent, since viscosity has double functions. A higher viscosity provides higher resistance to the droplet entering the oil phase leading to longer rest time and at the same time damps the lateral movement of the droplet along the interface, leading to easier stabilization and shorter rest time. On the other hand, a high viscosity of the oil phase results in slow dissolution process. It has been concluded that a meaningful model of inclusion separation at the metal-slag interface must take the interfacial phenomena into consideration. Keywords: Inclusions, terminal velocity, rest time, dissolution.

Jan 1, 2004