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By Trevor R. Ellis

The extractive industries addition to the International Valuation Standards (IVS) is scheduled for publication in the next edition of the IVS book in January 2005. This will provide guidance for valuation of minerals and petroleum industry assets of all types for all appraisal uses. It will provide asset valuation support to the International Financial Reporting Standards for the stock markets of the world, and a global umbrella standard which can be supplemented for local needs by institutes and regulators. This paper discusses implementation of the IVS within the minerals industry and important issues that the industry should confront.

Jan 1, 2005

By Harry Parker

Resource and Reserve Audits Becoming Increasingly Common Types of Audits -Review of Methodology (‘Fatal Flaw’) -Due Diligence – (‘Sign Off’) -Endorsement – (‘QA-QC’) Suggested Standards in Red

Jan 1, 2003

By J. Chai

In order to find the behavior of dewatered unconsolidated strata during the process of injecting water through a borehole, a new type of fiber Bragg grating (FBG) sensing system was successfully used for the real-time strain monitoring of unconsolidated strata during a water injection process for a dewatered unconsolidated strata of a coal mine. The unconsolidated strata water injection test was implemented through a borehole at a depth of +115.83 to +135.15m. The employed FBG strain monitoring system and ground water level observation system were installed at the depth in the unconsolidated strata where the water injection was conducted through two different boreholes. The water injection pressures in the test were 0.1, 0.2, 0.3MPa respectively, and the total water injection volume was 4226.84m3. The relationships between the water injection pressures, water injection volume and the strain change of the unconsolidated strata, the stress and strain conditions of the unconsolidated strata before and after water injection, were analyzed. This paper presents the results of these tests, and shows that the dewatering compression of the unconsolidated strata is reduced with increasing water injection pressures and water injection volumes. Comparing the stress-strain conditions before and after water injection, it is found that the stress of the water injection strata is in tension, which confirms the theory that the settlement of the thick unconsolidated strata is directly caused by the reduction of ground water levels. The high sensitivity and stability of the FBG monitoring system used was able to realize the real-time strain monitoring of the water injection process within a deep unconsolidated strata. This FBG monitoring system and the test results presented are very important for understanding further treatment of settlement in unconsolidated strata.

Jan 1, 2012

By W. W. Wen

A continuous pilot-scale test of the GranuFlow Process was conducted using a screen- bowl centrifuge for the dewatering and reconstitution of column flotation concentrate at a coal preparation plant in Virginia. In this test, a slipstream of the fine-clean-coal slurry from the column flotation concentrate was treated with a bitumen emulsion before dewatering. The treated products from the screen-bowl centrifuge appeared to be dry and in a free-flowing granular form, while the untreated products were wet, sticky, and difficult to handle. Specifically, test results indicated that the average moisture contents of the dewatered coal were 35.7, 35.5, 32.6, 29.9, and 26.5 wt% with Orimulsion additions of 0,0.7,3.2,4.8, and 6.4 wt%, respectively. The handleability and dust reduction of the dewatered coal product were also vastly improved.

Jan 1, 1997

By J. S. Meyer

Although salmonid fishes (including Pacific salmon and trout) have only intermediate sensitivity to copper (Cu) for traditional toxicity endpoints (survival, growth, and reproduction) and thus do not ?drive? the freshwater Cu criteria (e.g., see species-sensitivity ranking in US EPA 2007), Cu concentrations as low as 1 to 2 µg/L have been reported to impair olfaction (the sense of smell) in salmonids in laboratory experiments using dilute fresh water (see references in Meyer and Adams 2010 and DeForest et al. 2011). Olfaction is crucial to predator avoidance, recognition of kin, and reproductive synchronization (Baldwin et al. 2003); and Cu is of general ecotoxicological concern because it can be present in acid/mine rock drainage, industrial and municipal effluents, agricultural runoff, and urban stormwater runoff (Meyer et al. 2007). Therefore, there is public concern that the current regulation of Cu in surface waters is not stringent enough to protect salmonid fishes against olfactory impairment (e.g., OSU 2007; Pearson 2007). Because the toxicity of metals to aquatic organisms is a function of water chemistry [e.g., acute toxicity of Cu generally decreases as pH, water hardness (Ca2+ + Mg2+), alkalinity, and dissolved organic carbon (DOC) concentrations increase; Meyer et al. 2007], hardness-based freshwater criteria for metals are lower at lower water hardness. The recently-developed biotic ligand model (BLM) explicitly takes into account all four of those water chemistry parameters and the concentrations of other major inorganic cations (Na+, K+) and anions (Cl-, SO42-) to predict the acute toxicity of cationic metals (e.g., Ag, Cd, Cu, Ni, Pb, Zn) to aquatic organisms; and the BLM has been adopted by the U.S. Environmental Protection Agency (US EPA) to calculate acute and chronic national freshwater criteria for Cu (US EPA 2007). Consistent with observations of Cu toxicity to aquatic organisms, BLM-based Cu criteria generally are lower at lower pH, water hardness, alkalinity, and DOC concentrations. Therefore, although threshold concentrations for olfactory impairment by Cu can be low in dilute fresh waters, the corresponding hardness-based and BLM-based Cu criteria for the same waters also tend to be low. This leads to a logical question: Are Cu criteria already protective against impairment of olfaction in salmonid fishes, thus obviating the need to decrease those criteria even lower to protect against adverse effects to this physiological/ecotoxicological endpoint? Herein, we demonstrate that in all studies conducted to date, the US EPA?s BLM-based freshwater Cu criteria would have been protective against olfactory impairment in salmonid fishes, but the US EPA?s hardness-based criteria would not always have been protective. This distinction is important because all 50 States in the USA still use hardness-based Cu criteria in their water quality standards, and only some of the States allow use of the BLM to calculate site-specific Cu criteria. Additionally, in the absence of empirical results for calibration of a saltwater Cu-olfactory model, we demonstrate that a proposed unified freshwater-saltwater Cu-olfactory BLM predicts the US EPA?s current saltwater Cu criteria would be protective against olfactory impairment caused by Cu in sea water.

Feb 27, 2013

By C. J. Hall

I would like to congratulate Professor Gershon on an idea that is obviously valuable and is certainly new to me. It has, however, to be further developed, in that one can get fallacious results by limiting oneself to positional weights. In the example problem, the positional weight of one block was 8.6 (the 8.0 value in the paper was incorrect) for 36 units in the cone, for a mean block value of 0.239. The positional weight of the second block was 4.4 for 15 units, for a mean block value of 0.293. Surely one would expect the second block to be rated higher. Additionally, the time value of money adjustment cannot be determined by depth, because the time that a block is mined is determined by the mining sequence, not depth. Figure 1 shows a slightly altered version of Professor Gershon's pit. The overall value of the pit is the same, as are the total values under each of his blocks. The values in the right-hand cone have been reversed top to bottom, and the values in the rest of the pit adjusted to keep the central cone total unchanged. All values have been multiplied by 10. Figure 2 shows the sequence of mining, at three blocks per year, for Professor Gershon's pit, and Fig. 3, the sequence for a pit under the other block. Table 1 shows the value and discounted value (15%) of Professor Gershon's pit, and Table 2 shows similar values for the second pit. It is apparent that the second pit schedule is more valuable than the first.

Jan 1, 1988

By P. Todd, K. Dever, P. S. Mills, A. A. Campoli

Resin bolt performance is dependent on the size of the resin annulus, the difference between the hole and bolt radii. The vast majority of the millions of resin roof bolts installed each year in the United States employ an annulus of 0.125 or 0.188 inches. Short encapsulation pull tests with resin annuluses of 0.125 and 0.095 inch resisted an average of 2.25tons per grouted inch, with no significant variation. Resin loses to simulated fractures increased as annulus size decreased, with a minimum loss of35% and a maximum loss of 60% associated with0.188 and 0.095 inch annuluses, respectively.

Jan 1, 2000

By Jan Luca Grunow, Ansgar Bendiek, Klaus Böde

According to the Markowitz portfolio theory the value of a diversified portfolio is higher than the sum of the parts of a portfolio, which is an important consideration for the correct valuation. This is valid for real estate portfolios as well as for mining assets (or enterprises). This paper analyses the application of the portfolio theory to a diversified portfolio of assets in the real estate industry and draws conclusions on further research work to be done in the minerals industry. The volume of real estate transactions is increasing over recent years. As such, the nature of those transactions is constantly changing and in some cases portfolios become more heterogeneous as they are composed of different property categories, e.g. locations and types of use. This makes their economic evaluation more difficult. This paper focuses on the acquisition of a fairly heterogeneous real estate property portfolio purchased by “Commerz Real” in Germany in Q4 2019. For economic evaluation the widely used Markowitz portfolio theory (Markowitz, 1952) was applied. It was investigated whether diversification effects could achieve added value in the form of a reduction in risk compared to the sum of their individual components. As a result the findings of this research could be applied to other heterogeneous real estate transactions and even to mine property portfolio or PPP1 project portfolio transactions.

Jun 25, 2023

By M. C. Roberts

As nations advance through various stages of economic development, the patterns of demand for minerals change. For example, as a nation develops from a subsistence economy through industrialization and into a service based economy, the use of minerals is at first low, then grows rapidly, and finally stabilizes. The past trends in the use of agricultural minerals by the currently advanced nations provide a pattern that the world as a whole may follow as it progresses through the stages of economic development. Future needs for agricultural minerals are estimated using this approach.

Jan 1, 2001

By W. Chae

The influence of solution ionic strength (IS) and electrolyte valence on the flotation behavior of malachite has been investigated. The microflotation tests were conducted over a range of solution IS (1?300 mM) at a constant speed (340 rpm), pH (9.5), flotation time (10 min), and sodium oleate dosage (5.3×10-7 moles/g). The size of malachite ranged from 45 to 53 µm, and two different types of electrolytes (NaCl and CaCl2) were employed. Electrophoretic mobility was also measured over the same IS range employed in the microflotation study. Overall, strong coupled effect of solution IS and ion valence was observed. Specifically, the flotability of malachite increased with increasing IS in the presence of monovalent cation (Na+) while the flotability increased up to 30 mM and decreased with increasing IS in the presence of divalent cation (Ca2+). Notably, the flotability of malachite was greater with the presence of Na+ compared with Ca2+ under high IS conditions (IS>30 mM). Consistent trend for Na+ versus Ca2+ was observed from the flotation results with different SO dosages. The characterization and flotation results suggested that the trend was likely attributed to the increased unfavorable interaction between malachite and bubble via the charge reversal of bubbles and malachite at higher IS in the presence of Ca2+.

Feb 27, 2013

By W. I. Enderlin, P. O. Jackson, J. A. Glissmeyer, K. B. Olsen

A reliable estimate of radon emissions to the environment from underground uranium mines was obtained through measurements of radon in ventilation air at 24 mines and from estimates of radon release from other mine sources. The total production of U308 from the mines sampled represents about 63% of the total U.S. production from underground mines (1978 statistics). Wide variation in the radon emission rate per unit of production was found from mine to mine. Using the total radon emitted and U308 produced by all mines sampled, an average of 26.7 Ci of radon was emitted per ton of U309 produced. The investigation includes a brief study of the sources of variation of the emission rates. A statistically significant relationship was found between the measured radon release rate and the cumulative ore production at several mines.

Jan 1, 1981

By K. R. Griffin

Atmospheric conditions underground are constantly changing and from a safety perspective, it is critical to identify when conditions are trending abnormally. Atmospheric monitoring in underground coal mines allows mine operators to analyze atmospheric conditions underground in real-time. Real-time monitoring can then be used to identify whether atmospheric conditions underground have become problematic. The implementation of a risk assessment and management process allows operators to then use a risk-informed decision making to identify comprehensive site specific ventilation parameters. Establishing risk-informed ventilation parameters and tracking conditions relative to these parameters, management can modify ventilation plans as mine conditions develop to manage evolving risks. Ventilation risk assessment and management allows developing atmospheric monitoring technologies to be fully utilized in order to increase safety standards in the United States. This paper reviews general risk assessment approaches, state of the art ventilation based risk assessment, and the risk assessment and management application within the United States regulatory framework.

Feb 27, 2013

By T. S. Golosinski

Introduction Typical dragline rigging includes several sets of ropes: hoist ropes, drag ropes, dump ropes and boom suspension ropes. The drag and hoist ropes contribute most to the dragline operating cost. Both work in very difficult conditions and wear out rapidly. As a result, frequent rope changes are required resulting in substantial cost and productive time loss. Although performance of rigging has a profound impact on dragline efficiency, there are no common, industry accepted standards related to its selection, operation and maintenance. Little information on the subject is available and the practice differs widely throughout the industry. The performance of drag and hoist ropes depends on: •rope construction that should closely match requirements of the specific application, rope operating conditions and its maintenance and • correct definition and application of the rope discard criteria so that full advantage of the rope can be taken without endangering safety of its operation. This paper reviews the present practice related to all these factors. Its findings are based on the wide survey of the present industrial practice. Field survey In total, 33 North American dragline applications were surveyed of which 17 were Bucyrus-Erie machines, 10 were Marion and six were Page (now P&H). Most of the draglines were stripping overburden in coal mines, but the survey also included some unique applications such as phosphate mining in Florida and oil sand mining in Alberta. Hoist drive power of the surveyed machines varied from 300 to 7775 kW (400 to 10,400 hp). Drag drives varied from 300 to 5815 kW (400 to 7800 hp). Boom lengths varied from 37 to 110 m (120 to 360 ft). Bucket sizes varied from 5 to 96 m3 (6 to 115 cu yd). The hoist and drag ropes installed on the surveyed machines were supplied by 10 rope manufacturers and differed widely in type and construction. Most common rope strand constructions included standard strands, Seale, Warrington, Warrington-Seale and Filler-Seale. Results of the survey [ ] Working conditions Working conditions of hoist and drag ropes are quite different. The first cope primarily with bending on rope drums, point sheaves and deflection sheaves, and with tension force imposed by the bucket and its load. The drag ropes are exposed to severe abrasion at the pit crest, and to severe bending and crushing at fairleads, all while coping with tension forces imposed by resistance of the bucket to dragging. Bending of drag ropes at house rollers and at rope drums is of minor importance for their performance. Differences in working conditions result in different wear patterns, which make it feasible to install discarded hoist ropes to further serve as drag ropes. The hoist ropes wear primarily due to fatigue breaks of wires, while the drag ropes are subject to severe abrasion of outside wires, rope deformation and internal wire-strand breaking. The last is often indicated by the reduction of rope diameter. The summary of working conditions for the surveyed draglines is shown in Table 1. For simplicity, Table 1 does not include the data on rope bending at the fairleads, nor at the deflection rollers and house rollers. Similarly, Table 1 does not include the data on drag rope bending (other than that on the rope drum), as its influence on rope life is insignificant in view of severe abrasion and internal wear taking place elsewhere. The following abbreviations are used in Table 1: [D - diameter of rope drum. DP - diameter of boom point sheaves. d - rope diameter x - mean value of the measured parameter. s - standard deviation of x B/d - average bending ratio of ropes B/d =(D+ DP)/2d n - operational safety factor of the rope (rope stength) x (number of ropes) n(bucket load + bucket weight)] In terms of D/d ratio, the working conditions of hoist and drag ropes are similar to that in other related industrial applications. However, the safety factors of the dragline ropes are lower, which requires them to carry relatively large tension forces. The last explains the fact that the life of dragline ropes is low when compared to other industrial rope

Jan 1, 1995

By Ronald R. Rose

Currently six economic heavy mineral deposits are known on the Penholoway Terrace. These are (from south to north) the Green Cove Springs Mine (GCS), Boulogne Mine, Folkston Mine, Mission, Lulaton, and Ludowici. The GCS deposit is located to the west of Highway 17 between the towns of Green Cove Springs and Palatka in the state of Florida and has been mined since 1972. To the north, the erosion created by Black Creek restricts the northern extension of the orebodies and to the south a karst depression and erosion by the St. Johns River restrict southern extensions. The deposit is 20 miles long and up to 4.5 miles wide. Deposit thickness is from 5 feet up to 45 feet. The deposit is a series of regressive barrier island sequences deposited during the Pleistocene along the ancient Penholoway and Wicomico shorelines. The initial transgression of the ocean up to the location of the western Henry orebody was an extensive sea-level still stand as evidenced by the unit thickness and stacked transgressive regressive sequences. This period was followed by sporadic regressing seas and still stands, progressing eastward and stranding the sand bodies which make up the East Extended, TE, and East TE Ridge orebodies. The orebodies are underlain by predominantly non-mineralized fluvial sands and occasional back barrier lagoonal deposited clays. There is a predominance of wetlands on the southern extents of the zone as the surface elevations decrease due to a large karst depression.

Jan 1, 2005

By M. J. Ramos

Without an exclusive definition of administration in business, we could propose to define it as performance by management to adopt or implement established business formulas. Administration could also be defined as a universal process that organizes people, and achieves, through efficiency, common objectives and goals. Humanity developed some form of this process from the beginning of civilization. To imply that something is new in administration might be considered specious or naïve. Moreover, what is new in management? Administration of business is not new to the world. To prove this statement, we need only ask this question: Does the architecture and monumental workmanship of the past civilizations of ancient Egypt, Rome, and the Incas demonstrate management without administration and without definition of objectives? The answer must be a resounding ?NO!? In spite of this acknowledgment and for the purposes of this presentation, I will use the word ?new? in business and hope that the reader will follow my reasoning. The mining industry has unique characteristics in respect to other industries. It is multi-disciplinary, has a single purpose (majority for one metal), has two players (man and nature), and it involves high risks for generating environmental imbalance. Mining exploits non-renewable and finite resources, creates an unstable job market (work hard to have no work) and a speculative economic market with unpredictable prices ? a one-time payment for a finite resource with multiple recycling. On top of all that, the industry still operates within obsolete petroleum-based technology, utilizing practices that were designed two centuries ago. Today, we confront the challenges of the millennium with outmoded practices and management. Ordinarily, several styles of administration are standardized into a FRAGMENTED vertical system of organization. Mining has rigid objectives in production, with profitability as the focus from the beginning to the end. Citing the concept of safety, as an important facet of production is bombastic since, in truth, mining is an experimental industry that consistently reports high numbers of fatal accidents. In mining, we designed a process to work according to our objectives, demanding attention and supervision of all levels of management with a halo of parameters that are not assimilated into the design. We continue to perform a rigid style of management in an industry that is still not responsive to variations of the market ? losses in particular. The existing design process generates loss without capitalization and without response to said loss. This perception is reflected in a mindset that is only too ready to ignore mining liabilities. The reality of the enterprise has created an immense pressure from top to bottom in the hierarchy to do more with less. It is for all of these reasons that I propose to set forth a new essence for administration that encompasses an alternative vision and style in mining: Management by Loss. MANAGEMENT BY LOSS Management by Loss (MBL) is a systematic, integral process organized to quality control operation and the human profitability within the industry. It permits focus on achievable goals by utilizing the best practices (Mining Open-closing). Identification and characterization of loss in the process determine how objectives are defined, controlling the time limits to execute based on constant balance of mass, energy, water, and ?wastes? in each stage of the industry, in order to reach final objectives. The concept of loss can be defined by various criteria. Generally, it is the mass that could not make or arrive at its destination from a designed process or simply, it could not maintain balance. Otherwise, the design of the process describes the final point of the resource. However, those resources could not make their destination because of failure to use the best design, resources and TIME. The loss has typical characteristics such as Identifiable, classifiable, measurable, manageable, controllable, valuables, negotiable, avoidable, reportable, and monitoring. In the traditional scheme, these losses are not registered; they are made exclusions. We are trapped within a system, which was designed to obtain objectives of the industry in a specific timeframe. In the present style of administration, the focus is total - our emphasis in this treatise is in the loss. The current traditional report form contains only the most positive achievement of objectives, only the best of the exercise, humanizing numbers, without touching what we left behind or what we were waiting for to assimilate as a ?surprise account?(new account of liabilities). Management by loss is a method that redefines the concept of waste (waste zero) for controlling the mine operation under the equilibrium of the ecosystems. This method confronts the problems that impact our industry in this millennium. Understanding and quantifying losses (reserves, resources, time, energy, water, soil, materials, equipment, tasks, labor, ecosystems, etc) is a priority mandate for the industry and demands the application of a ?new ? style of administration by seeking to maintain balance instead of the disequilibrium that mining now creates in nature. It is necessary to answer questions such as: How can we minimize loss? How can the loss be assimilated during the life of the mine? What is the vision of mining in respect to the generation of waste? How can we convert liabilities into assets? In addition, the control of loss is determined in the achievement of the plan. Loss occurs because of a failure of the process in the original plan. Still we do not plan to fail but we fail to plan appropriately. It is a remarkable thing to accomplish and compel those objectives described in the original plan when that plan is designed with a determined budget. If not, we lose time and, of course, capital. Moreover, in Management by Loss (MBL), we can find answers to the following questions: What is the multiplier of productivity in mining? What are the influences of identification and characterization of loss and what is the level of efficiency of energy in order to achieve waste zero (effective cut off grade)? The challenges of mining in this millennium validate this new style of administration. Finally, it is important to point out that mining is entering into an era that has different rules, but the industry is still run by companies functioning with objectives from two centuries ago. They are trying to confront issues with concepts that are not designed for new tasks. Therefore, I ask you to consider this new style of administration of business under a vision of how the industry should be organized and managed, with an attitude of balance toward nature and social responsibility.

Jan 1, 2009

By E. Stiakakis

The paper presents a geotechnical simulation of the "Mavropigi" open pit mine (Western Macedonia Lignite Center, Greece), using the finite element method. The simulation was based on the initial planning of the pit using Mohr-Coulomb and Soil Hardening models. Results indicate high stability factors as well as the magnitude of the expected horizontal displacements and floor heaving. However, these deformations do not influence decisively the overall stability unless locally adverse tectonics are encountered. Results can be used in the ongoing update of mine planning and stability evaluation.

Jan 1, 2006

By K. Biswas, F. C. Felipe

Paste backfill, because of its colloidal or water-holding properties, does not produce run-off water when placed underground. Paste backfill is generally, prepared from relatively low water content, full mill tailings with a certain proportion of ultra-fine particles and mixed with cement, thus producing early and better strength. Mill plant discharge tailings and other materials available at or near the mine site such as sand, aggregates or waste rock are used as blending materials in the mix design. This study investigates the influence of the above-mentioned blending materials on the mechanical characteristics of paste backfill, as well as the grading, shape, specific surface area, mineralogy and workability of the different mix design.

Jan 1, 2000

By 1980, the U.S. mining community had reached a broad consensus regarding coal pillar design. The pillar load could be estimated from tributary area theory, and the pillar strength from empirical formulas and laboratory coal strength testing. Then the growth of longwall mining required new thinking. Recently, powerful design methods have emerged from analysis of large data bases of real-world pillar successes and failures. These include the Analysis of Retreat Mining Pillar Stability (ARMPS), the Analysis of Longwall Pillar Stability (ALPS), the Mark-Bieniawski rectangular pillar strength formula, and guidelines for preventing massive pillar collapses. Sophisticated numerical models have also helped transform the pillar design landscape. In the process, our understanding of pillar mechanics has been greatly enriched.

Jan 1, 1999

By Jeffrey A. Pontius

The Cresson gold deposit is in the southcentral portion of the Cripple Creek mining district in central Colorado (Fig. 1). The deposit is hosted by a series of 32 Ma (Kelley, 1995) felsic to mafic, alkaline volcanic rocks that were deposited in a diatremal environment. Mineralization in the Cresson deposit is structurally con-trolled. It occurs as disseminated and vein type. Gold deposition is closely associated with potassium-pyrite metasomatism and quartz-telluride vein development(Pontius, 1992). The Cresson deposit is owned by the Cripple Creek and Victor Gold Mining Co. (CC&V), a joint venture between Pikes Peak Mining (67%) and Golden CycleGold (33%).

Jan 1, 1996

By R. W. Smith, D. L. Taylor, K. A. Altman

Recent research has shown that traditional sensitivity, what if and best case/worst case analysis of metallurgical data has the potential to over estimate the value of mining projects. Use of simulations, which rely on the input of statistical information, may provide more realistic predictions of the value of future projects. Actual metallurgical data is used to demonstrate that analyzing the data from a statistical perspective can give insight into completing an optimum amount of metallurgical testing and a mechanism to determine that samples used for the testing are truly representative of the ore that will be processed.

Jan 1, 2000