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"How Wall Street Darling Molycorp Undermined the U.S. Economy, Degraded our National Security and Distorted the Global Economic Balance and How These Falsehoods Continue to be Promoted Even Today INTRODUCTION & SUMMARY In 2007 the Molycorp Mountain Pass rare earth mine was resurrected from its desert-grave in California by its then-owner Chevron Mining. Responding to elevated rare earth prices Chevron began processing on-site rare earth concentrates left over from past mining operations that were terminated in 1998i. Chinese demand had sparked what was being described as a commodities super-cycleii. Commodity prices were on the move. Wall Street smelled opportunity. In 2008 Goldman Sachs, Pegasus Partners, Resource Capital Funds, Traxys North America LLC and Carint Group LLC acquired the mining assets from Chevron. In an environment of ever-declining ethical standards and regulatory consequences the private capital group and their investment bankers would bring Molycorp to market. Molycorp, with its high powered investment banking team of Morgan Stanley and J.P. Morganiii, easily dominated the contest. Molycorp promoted itself, largely based on its past operating history and proven reserves, as the best company to challenge China’s monopoly control over the production of rare earths: a group of elements critical to most advanced technologies and U.S. defense systemsiv. Most of Wall Street’s hottest investment sectors were dependent on these materials: alternative energy, green technologies, computing, personal communications, advanced electronics and defense systems. By late 2010 there were dozens of prospective rare earth start-up ‘mining companies’ seeking capital. Eventually the number of prospective rare earth mining companies seeking capital exceeded 400, despite the reality that supply requirements of this market were disproportionally small when compared to other natural resource sectorsv. In the world of finance ‘smart money’ picks the winners. Consequently just twovi projects attracted nearly all of the capital (Molycorp and Lynas). Wall street picked Molycorpvii. This paper will primarily focus on Molycorp. By early 2010 the words “Molycorp” and “Rare Earths” electrified many people in the mining industry, most non-Chinese manufacturing technology companies, U.S. & allied defense contractors, technocrats in the U.S. national security community and eager investors across most of the world’s stock markets. It was the hottest story of the yearviii. The financial, technology and defense press coverage verged on euphoric: heaping fuel on fuel until the highly combustible Molycorp-pyre cast a long shadow over all of its rivalsix. When the IPO match was lit the spectacular flaming pyre sucked all of the oxygen out of the rare earth spacex. Molycorp was ranked the most lucrative IPO of 2010, resulting in record breaking profits to its private investors and massive returns for its early stock holding investors."

Jan 1, 2017

By F. du Breuil

BCR National Laboratory (formerly Bituminous Coal Research, Inc.), under a USBM con­tract (originally with the Department of Energy), monitored the installation and operation of a computer-based belt-monitoring and control system at the Barnes & Tucker Coal Co. Mine No. 20, Ebensburg, PA. The system installed was the National Coal Board's Mine Operating System (MINOS) coal transport monitoring and control system. The program objec­tive was to document (1) the installation requirements for a conveyor control system, (2) the operating experience with the system, and (3) the impact of monitoring and control on mine operation. Analysis of the system operation indicates that monitoring and control did improve belt availability significantly, and reduced downtime associated with belt delays. Economic analysis showed the increased belt availability would potentially result in significant production increase, and, therefore, excellent payback on the initial investment. The system performed satisfactorily, was well accepted by the work force, and did not increase the maintenance workload.

Jan 1, 1987

By Monserrat Rebolledo, John L. Uhrie, Candice Simms

Jetti Resources has developed a catalyst which overcomes the passivation of primary sulfides, enhancing the heap leach recovery of copper from chalcopyrite. It is important to emphasize that heap leaching of copper sulfides, whether with or without the Jetti catalyst, is a biooxidative process. We have demonstrated the efficacy of Jetti’s technology in bioreactors, with a chalcopyrite-dominant porphyry ore. In the presence of Jetti’s technology, optimal bioleaching conditions significantly increase copper extraction by 2.6 times that of the baseline.

Feb 1, 2025

By A. N. Brown

The Hendrik van der Bijl Memorial Lecture is arranged annually under the auspices of the Pretoria Engineers Liaison Committee. This is a multidisciplinary Committee with representatives from eleven societies and associations, and serves the interests of engineers resident in the Pretoria area. Coal preparation The Japanese Organizing Committee of the 11th International Coal Preparation Congress is now busy making the necessary arrangements for the Congress, which is to be held in Tokyo from 22nd to 26th October, 1990.

Jan 1, 1989

By N. Greninger

The Bureau of Mines conducted a laboratory study of the measurement of the water and rock dust (RD) contents of synthetic mine-type coal dust (CD) mixtures using a commercial unit for measuring water content and several prototype radiometric units for measuring the RD content. The RD content ranged from 50 to 100 wt pct and the added water (AW) ranged from 0 to 15 wt pct. The total water (TW) content (intrinsic (IW) and AW) of a small dust sample could be readily measured automatically by essentially untrained personnel using a commercial unit. The RD content of a sample containing only IW could readily be measured by moderately trained personnel using several radiometric units. With gamma-ray devices, about 300 g of sample is needed. With the improved beta-ray device, about 25 g of sample is needed. With dry mine dust samples, the estimated RD error range for gamma-ray devices is 0.8 to 2.3 pct and 0.5 to 1.0 pct for beta-ray devices. However, the radiometric measurement of RD content was questionable if the dust mixture also contained AW or if it was uncertain whether the dust mixture contained AW.

Jan 1, 1988

The 2003 SME Annual Meeting and Exhibit will take place Feb. 24-26 in Cincinnati, OH. The meeting will feature a host of special symposia and programming geared toward the industrial minerals and aggregate industry sectors. This programming focus is particularly relevant for this annual meeting, as it will be hosted in the center of America’s transportation hub and industrial mineral center. Cincinnati, located on the Ohio River, is key to the movement of America’s supplies and construction material needs.

Jan 1, 2003

By R. J. Brison, W. C. Bleimeister

The International Salt Company has long been interested in finding an efficient process for the removal of impurities from rock salt, and particularly from the rock salt produced at the Detroit mine. Methods which have been used previously at the Detroit mine included both hand sorting and differential crushing in a Bradford breaker with rejection of the oversize. Neither of these methods was adequately effective. The development of a new process for removal of impurities from rock salt has been described in the preceding article." Basically, the process consists of exposure of crude rock salt to radiant heating which selectively heats the impure particles. Subsequently the heated particles are removed by adhesion to a heat sensitive-coating on a conveyor belt. This method was found to be effective in improving both the quality and appearance of rock salt by the rejection of the dark, impure particles. The first commercial unit employing the new thermoadhesive method of dry separation of minerals was installed at the Detroit mine of International Salt Company in Detroit, Mich. (Fig. l). This unit was first put into operation in March 1957. The purpose of the Detroit installation was 1) to serve as a pilot plant for evaluating the process on a commercial scale and 2) to produce marketable quantities of rock salt of improved quality and ap- pearance. The design of this plant was based on the results and information obtained from a 1-tph pilot plant at Battelle Memorial Institute. DESCRIPTION OF PLANT Location: The separation plant was installed underground near the crushing and screening plant, for this was the most suitable location from the standpoint of material handling. Furthermore, ample space was availabe at this location. Because the process requires a relatively constant temperature, the uniform year-around temperature of the mine (57°F) gave an added advantage to an underground operation. Feeding: The rock salt is conveyed to a surge bin, from which it is fed to the heating unit by a conveyor. The feed-rate control consists simply of an adjustable gate at the bottom of the surge bin. The plant may be fed either No. 1 grade of rock salt (0.279 to 0.375 in.) or No. 2 grade (0.375 to 0.500 in.) with a maximum input capacity of 500 tons per 15-hour day. Heating Unit: The heating unit (Fig. 2) consists of a panel of infrared lamps suspended inside a low-speed revolving screen. The radiant-heat panel, which is curved for most effective utilization of the heat, holds 240 infrared lamps of standard industrial type, each rated at 500 watts. The position of the panel is adjustable so that it can be placed centrally over and to within 6 in. of the salt bed on the screen. The entire heat panel is suspended by rollers in ¦ R. J. Brison and O. F. Tangel: Development of a Thermo-adhesive Method for Dry Separation of Minerals.

Jan 1, 1961

By J. A. Kost

A dust-control manual was prepared for use by mine operations personnel. The manual documents state-of-the-art control techniques, dust sampling, and use of personal protective devices. Content addresses advantages/disadvantages of control techniques, design and operating specifications, and implementation and maintenance guidelines. An indexed list of selected references is also included. In addition to the completed manual, this report documents work performed in the course of its preparation.

Jan 1, 1981

By S. Kouniali

Experience with knowledge-based systems for Layout planning and roadway support dimensioning is on hand in European coal mining since 1985. The systems SOUT (support choice and dimensioning, 1989), SOUT 2, PLANANK (planning of bolt-support), EXOS (layout planning diagnosis. 1994), Sout 3 (1995) have been developed in close cooperation by CdF1. INERIS2. EMN3 (France) and RAG 4, DMT5, TH - Aachen6 (Germany); ISLSP (Integrated Software for Layout and support planning) development is in progress (completion scheduled for July 1996). This new software technology in combination with conventional programming systems. numerical models and existing databases turned out to be suited for setting-up an intelligent decision aid for layout and roadway support planning. The system enhances reliability of planning and optimises the safety-to-cost ratio for ? deformation forecast for roadways in seam and surrounding rocks, consideration of the general position of the roadway in the rock mass (zones of increased pressure, position of operating and mined panels). ? support dimensioning ? yielding arches, rigid arches, porch sets, rigid rings, yielding rings and bolting / shotcreting for drifts ? yielding arches, rigid arches and porch sets for roadways in seam ? bolt support for gateroads (assessment of exclusion criteria and calculation of the bolting pattern) ? bolting of face-end zones (feasibility and safety assessment, stability guarantee).

Jan 1, 1996

By Jorge Díaz A

El presente texto revisa los métodos utilizados en las minas de tajo de abierto como son la perforación, disparo y seguridad y así mejorar los standars y el rendimiento futuro en la industria minera. Respecto al primer método empleado, se analizan los factores que afectan el rendimiento de brocas y cómo dicho factores varían, impidiendo la adaptación de prácticas universales de perforación. Asu vez, estos mismos permiten seleccionar el tipo de broca adecuado y mejorar el máximo rendimiento del mismo. En cuanto la voladura y los explosivos, se revisan las variables fundamentales que ejercen una influencia sobre el resultado de un disparo y así realizar un estudio comparativo de los agentes explosivos en uso, tratando de interpretar el mecanismo de la explosión y a la vez aplicarlo a las diferentes formaciones presentes en Cerro. Finalmente, se describe la organización del sistema de seguridad y las obligaciones de este comité en la industria minera.

Aug 20, 1965

By Robert H. Peters

Groundfall accidents have been the leading cause of fatalities in the underground coal mining industry for many years. Statistics from the Mine Safety and Health Administration (MSHA) indicate that approximately half of the victims of these fatal accidents were in an area where no devices had been installed to support the mine roof. This report was prepared by the U.S. Bureau of Mines to provide guidance to operators of underground mines concerning the use of techniques that may help to keep miners from going under unsupported mine roof. The report is divided into two major sections. The first section reviews the findings from several areas of empirical research pertaining to strategies for convincing employees to avoid unsafe acts and/or adopt self-protective behaviors. The strategies are (1) incentives and feedback, (2) disciplinary actions, (3) training (primarily fear communications and behavioral modeling), and (4) nondirective techniques. This literature review has a broad focus and should be helpful in making decisions about how to encourage a wide variety of types of self-protective behaviors. The second major section of the report presents an analysis of each strategy's potential for keeping miners away from unsupported roof.

Jan 1, 1991

By Ji Fang, Chong Fan, Fengrui Wang, Dongxin Bai

Unmanned mining technology in underground mines offers high efficiency, safety, and low cost. However, ground operators face challenges in accurately perceiving the underground environment through videos. This paper presents an augmented reality (AR) platform developed to enhance the unmanned mining process. The platform uses cameras and 5G technology to transmit high-fidelity video streams to the ground, where key targets are identified and virtual models are registered in the video to enhance the real scene. Tests in the Xinli stope of the Sanshandao gold mine showed the platform’s effectiveness in improving ground operators’ perception and production efficiency.

Jan 30, 2022

By Isobel Yeo, Florent Szitkar, Sven Petersen, Sebastian Graber, Nico Augustin, Marcel Rothenbeck, John Jamieson

"INTRODUCTIONSeafloor massive sulfides (SMS) along mid-ocean ridges are often seen as a possible future contribution to a secure metal supply for global human needs. A growing interest over the past few years resulted in six national exploration licenses and one application pending, covering 10,000 km2 each, that have been brought before the UN International Seabed Authority (ISA) since 2011. Each contractor has to explore these 10,000 km2 within the 15-year runtime of the contract. However, the need to define areas that are not economically interesting is more pressing, as 50% of the 100 license blocks have to be returned to ISA after only eight years - hopefully areas that do not contain large and economically interesting SMS deposits. Current geochemical prospecting technologies, however, have mainly been developed for the search for active hydrothermal systems (e.g. hydrothermal vents and associated black smokers) that can easily be traced through physical and chemical anomalies in the water column (temperature, chemical variations of elements such as Mn, Fe, redox potential, and/or the particle concentration in the water column). Such plume surveys have been a primary tool for exploration of SMS systems, but they only identify active, and therefore mostly young and small hydrothermal systems. In a recent high-resolution AUV survey performed within the EU-FP7 funded project “Blue Mining”, we covered 47 km2 along the TAG segment of the Mid-Atlantic Ridge to test exploration methodology for fast and reliable exploration of larger areas of the seafloor for inactive seafloor massive sulfide occurrences using the autonomous underwater vehicle (AUV) “Abyss”."

Jan 1, 2017

By D I. Cliff

The loss of 11 miners in the 7 August 1994 Moura No.2 Underground Mine Disaster was the catalyst for major change in the way safety was managed in the Australian Mining Industry. The impact was felt across all sectors not just underground coal. It was the catalyst for the overhaul of the regulatory frameworks, moving away from prescription to management systems and risk management. This had a substantial impact on the way not only the industry operated but also on how the regulator functioned. It heralded the introduction of competency-based training across all levels of the mining workforce. Since that time major improvements in safety performance have occurred. However, hiding within the statistics are some disturbing trends. This paper aims to analyse the progress made in the past 30 years and identify the current and emerging issues. Automation is bringing major production and safety benefits, but at the same time other factors such as the reduction in workforce numbers and ever-increasing production pressures are leading to high turnover rates. This in turn causes to a loss of experience and expertise. In addition, and of particular importance, is the recognition of psychosocial wellness on workforce safety. Many of these factors are not unique to the mining industry however they may be exacerbated by the scale of mining, the remoteness of the mines and family unfriendly mining rosters.

Apr 16, 2024

By L. Juteau

"""The north coast of the St. Lawrence River will be the scene of an industrial development during the coming decades"". The facts which underlie this statement are the occurrences of iron and titanium ore, the abundance of hydro-power and the availability of deep-water ports in this region. Havre St-Pierre, Sept-Iles, Port Cartier and Baie Corneau already exist as major ports and urban centers. The huge quartz deposit at Baie Comeau will be a decisive contributing factor in the development of a metallurgical plant in this area. Due to its purity, it lends itself, first of all, to the manufacture of glass of different kinds, being comparable to the quartz sands now used by the plate glass and glass container industries in the Montreal area, Moncton, N.B., Trois-Rivieres and - in the future - at Bécancour, Quebec. However, its high quality will also make it possible to use it as one of the main basic materials for the production of silicon carbide and ferrosilicon, and as a flux in metallurgical processes. It is intended, in this report, to offer conclusive proof of the economical importance of this large quartz deposit by presenting the results of the studies made to date."

Jan 1, 1971

By C. B. Manula

This report is volume 7 of an eleven-volume final report for a Grant completed by The Pennsylvania State University for the Bureau of Mines to develop a dynamic general purpose computer simulation model for underground coal mining. The simulator developed under the Grant has a wide range of possible applications in the design and evaluation of underground coal mining systems from the standpoints of health and safety, productivity, and mine environment. The Master Design Simulator consists of nine free-standing function-oriented subsystem models linked together into an integrated, comprehensive model of an entire mining system. The subsystems comprising the Master Design. Simulator include geology and reserves, methane generation, roof support, subsidence, production, rail haulage, cost, water generation," and ventilation. This volume of the final report describes the Rail Haulage subsystem of the Master Design Simulator. This subsystem can be used as a free standing model or can be linked to the Production subsystem to provide rail haulage capability. Complex rail haulage systems can be realistically simulated with this model. This report includes complete instructions for operating the subsystem as well as a program listing. In addition, a case study is included which illustrates the application of the subsystem when linked to the production subsystem.

Jan 1, 1974

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvarl-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 8 Howard-Canfleld Bldg. Santa Barbara, Calif. COWIN & CO. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction I- 18th St. S. W. B'ham, Ala., Phone 56-5566]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. B. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvarl-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" B Howard-Canfield Bldg. Santa Barbara, Calif. COWIN & Co. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction I- 18th St. S. W. B'ham, Ala., Phone 56-5566]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. d., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvarl-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 8 Howard-Canfield Bldg. Santa Barbers, Calif. COWIN & CO. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction I. 18th St. S. W. Wham, Ale., Phone 56-5566]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. B. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 158, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 8 Howard-Canfleld Bldg. Santa Barbara, Calif. COWIN & CO. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction 1-18th St. S. W. B'ham, Ala., Phone 56-5566]

Jan 1, 1952