Search Documents

This paper examines the latest advances in mine drive and motor systems. In the last decade, the drive technology employed for large mine winders has migrated from the traditional dc technology to ac motors with cyclo convertor drives. Recent advances in pulse width modulation (PWM) drives have resulted in these being applied to large winder drives. While having many advantages for the winder system, the PWM drive must be carefully designed to ensure long-term reliable operation. When combined with induction motor technology, the PWM drive presents the ideal solution for winder drives. This paper examines the factors in choosing a suitable PWM drive for a winder installation. Factors under consideration include: winder duty cycle, drive rating restrictions, choice of power semiconductor device, cooling, and low speed operation.The cage induction motor is the motor of choice for large winder drives and has a number of advantages over the synchronous motor. The induction motor is ideally suited to integrated winder applications where the motor is built inside the friction drum, as installed at WMCÆs Olympic Dam site. The challenges of integrating the induction motor into the friction drum will be detailed, including: assembly, ventilation, air gap adjustment, and position sensors.

Jan 1, 2005

By K M. P Singh, K M. K Sinha, G S. Jha, T Gouricharan, K K. Sharma

The majority of the powerplants in India are fed with non-coking coals, with the coals dispatched from their respective mines via wagons loaded by a rapid loading system or pay loader. The usual top size of coal is 200 mm and sampling is carried out manually from wagons. The manual method of wagon top sampling of large size raw coal is not only difficult, but also violates some of the fundamental principles of sampling. As per sampling requirements, samples are to be drawn from the full depth of the wagons, which is impossible to be done manually. Since the ash distribution in the different size fractions is not homogeneous, the results from the samples, which do not reflect the true size distribution of the lot, are likely to be biased. More importantly, sample collection by shovel from the top is a function of human discretion and not governed by the equiprobability rule. In another case, the sample has been collected by a cross belt-type auto mechanical sampler for 200 mm size coal at one of the super thermal power stations. Test analysis shows that coal collected using a cross belt-type mechanical sampler also has significant deviations from stopped belt coal samples of 200 mm size due to size segregation. Studies carried out on wagon top sampling through specially designed experiments reveal some interesting features. The presence of bias in wagon top sampling is apparent when compared with the ‘stopped belt’ sample. In this paper, a comparative study between manual wagon top sampling/auto mechanical sampling with respect to stopped belt sampling has been conducted for coal of size 200 mm. In addition, precision studies have been performed for wagon top sampling/mechanical sampling for Indian thermal powerplants.CITATION:Sinha, K M K, Sharma, K K, Jha, G S, Singh, K M P and Gouricharan, T, 2014. A comparative study of manual wagon top sampling and auto mechanical sampling of 200 mm size coal with respect to stopped belt sampling of thermal coal at Indian super thermal powerplants, in Proceedings Sampling 2014 , pp 43–48 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 29, 2014

New technology is a significant factor in the present upsurge in world, and Australian, gold extraction and production. The main technologies in current use for gold production are described, referring to overseas developments. Areas where existing techniques have shortcomings or new methods are needed are pinpointed and discussed. Much research work on gold metallurgy is under way round the world, and many new developments have potential. Many of the current research activities round the world are covering unusual and striking areas, with surprising results starting to come through. Some of the "blue sky" techniques reportedly under investigation are identified, together with consideration of when changes in technology are of value. The consequences of new technology for personnel involved in gold plant operations will be raised, including the new education now required.

Jan 1, 1986

By C M. Stewart

Lithium battery electric powered vehicles and machines (BEVs) continue to gain traction inunderground mining use, with predictions they will dominate the underground light and heavy vehicle fleets for some mines within the next decade. There are clear advantages for ventilation systems through reduced heat output and the elimination of harmful exhaust gases and diesel particulates. However, the risks and effects of BEV fire emergencies for underground personnel and ventilationsystems are still largely in the early stages of analysis and understanding. This paper conducts an industry review of a selection of lithium battery fire incidents and research.A research paper review on lihthium fire behaviour, intensity and toxicity will be analysed and comparisons made with equivalent diesel machinery fires for context. Guidelines for mine firemodelling parameters will be offered to assist in predicting the behaviour, heat and emissions from BEV fires, and recommendations and conclusions will be drawn on the specific hazards of lithium battery fires compared to conventional diesel powered machines.

Oct 12, 2022

By M I. Pownceby

High temperature roasting studies on chrome-spinel contaminated ilmenite concentrates showed that sulfur, introduced through a sulfidising roast treatment, selectively reacted with the chromium in the spinels. The roast treatments were carried out in a laboratory scale rotating drum kiln using a standard Becher-style heating profile (10 h, 1075ºC), char as the reductant, and variable amounts of added elemental sulfur (0 - 3 wt per cent).After roasting, bronze-coloured grains were visible representing chrome-spinels that had undergone selective sulfidisation. SEM imaging of the products showed that sulfur was preferentially concentrated in ~5 - 15 µm thick rims fully enclosing the chrome-spinel grains. The sulfur-rich rims became a sink for manganese (Mn) from the ilmenite resulting in the rims being rich in Cr-Mn-Fe-sulfides. Quantitative electron probe microanalysis of phases present within the rims identified two sulfide phases. The first sulfur-phase (S-phase) was low in Mn (1 - 3 wt per cent) and high in Fe, Cr and S, while the second S-phase was considerably higher in Mn (30 - 35 wt per cent Mn) and lower in Fe and Cr. The dramatic change in the composition of the chrome spinels after sulfidisation is likely to significantly alter their physical properties (eg hydrophobicity, conductivity, etc). This should make their physical separation from the ilmenite potentially easier than roasting/magnetic separation methods.

Oct 5, 2011

By Elford H. S

Australia has many potentially important tin deposits, particularly on the eastern shore of the continent and in Tasmania. A number of these have been worked on a meagre scale, while some of them, because of metallurgical, transport, and other difficulties, have not as yet been developed.Believing that the full development of the tin fields of the Commonwealth of Australia is in part dependent upon the adoption of the most efficient methods of milling and smelting, the Development and Migration Oommission arranged for the first-mentioned author to visit the mining fields of Cornwall, one of the oldest tin-producing districts of the world, and prepare a report for the information of the Commission.This paper, now presented to the Australasian Institute of Mining and Metallurgy with the hope that it will assist the full development of tin mining in Australia, is the joint work of both authors.For over two thousand years tin has been produced from the Cornish mines. Even the ancient Greek historians made mention of tin mining in Cornwall, and it is probable that during the earliest periods the mining was alluvial. As early as 1602 a stamp battery working in Cornwall was described, and in 1671 calcination and buddling was a recognised scheme of treating pyritic ore. In the first half of the 16th century the output of tin from Cornwall was 700 tons per annum, and, from then on, production increased to the maximum in 1914 of 6500 tons. At present (Oct., 1929) the Cambourne-Redruth area produces over 95% of the Cornish tin output. This area includes such mines as the South Crofty, East Pool, Dolcoath, Parkanchy, Polhigey, and Wheal Kitty. The remaining 5% is largely supplied by the Levant and Geevor mines at Pendeen, St. Just area, near Land's End.

Jan 1, 1930

By D R. Lueking

A technology involving separate unit processes for the generation and use of ferric ions for the oxidation of sulphidic minerals has been developed. The technology utilises a stand-alone automated bioreactor for ferric-ion generation (termed SAAB-FIG) and produces a low pH, ferric ion-rich leach liquor with a high oxidation potential. This leach liquor is then employed, in a separate unit process, to oxidise sulphidic minerals and regenerate ferrous iron that may subsequently be recycled to the bioreactor for the continual generation of ferric ions. The technique was successfully applied for the recovery of copper from chalcocite (Cu2S) and chalcopyrite (CuFeS2), as well as other ores and concentrates containing copper sulphide minerals. Coarse ore, ground ore and concentrates were treated with acidic solutions containing 8 to 12 (g/L) Fe(III) ions at a variety of temperatures. This process yielded over 50 per cent of the contained copper from both chalcopyrite and chalcocite samples. Maximum reaction rates and copper recoveries were found to be highly dependent upon temperature and pH and leach liquors containing bacterial cells displayed little difference in their leaching efficiency when compared to cell-free leach liquors.

Jan 1, 2000

By G Wyartt

In the Pilbara region of Western Australia, an iron ore mine is undertaking a high wall cut-back to improve stability and allow access to deeper ore deposits. Several sections of the wall have been classified low factor-of-safety due to unstable localised geology, and therefore an engineered approach to vibration critical blasting was required. The use of electronic detonators allowed multiple signature (seed) holes to be incorporated into a production blast adjacent to the low factor-of-safety area, therefore providing baseline vibration data to be used for future modelling with the added advantage of eliminating unnecessary pit closure downtime typically associated with a signature hole program. All subsequent blast patterns also incorporated multiple signature holes to provide additional data and allow continual updating – and therefore improved accuracy - of the blast prediction model. Electronic detonators and blast initiation systems were combined with advanced blast vibration modelling software to produce optimal timing sequences with predictable vibration outcomes. Although minimising vibration was the primary focus, blasting induced frequency was also a concern for the project team and therefore initiation sequencing was optimised to also avoid undesirable frequencies. Minor variations in ground factors (vibration transmission and attenuation) were noted, and therefore justified the inclusion of regular signature holes which allowed continual vibration model updates. Blasting results produced vibration and frequency measurements within allowable limits and closely resembled the predictive model. These positive results were achievable through the combination of electronic detonators, advanced modelling software and good onsite practices by engineering and on-bench teams alike. This project will remain ongoing as the pit progresses to deeper benches, and therefore the same methodology will be applied; quality and continual data collection, the use of electronic detonators, and optimisation via advanced vibration and frequency modelling software. CITATION:Wyartt, G, 2018. Vibration control blasting for low stability final walls, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 504–510 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

For the mineral industry, sustainability seems to mean socially positive and ecologically neutral mineral extraction. Mines are financed and developed in response to demand for their products. The purpose of my paper is to indicate the potential dimension of demand. As part of an unrelated study which I undertook ten years ago, it became apparent that there is a persistent relationship within communities between infant mortality and mineral use; greater mineral use corresponds to a lower rate of infant mortality. This comes as no surprise; sufficient potable water, a reliable supply of food, hygienic waste disposal, hot water and refrigeration all improve the chances of survival of the more vulnerable members of any community. The predictable provision of these facilities requires the application of minerals. This relationship is supported by a table (Appendix 1) included in the UNICEF publication, æThe State of the WorldÆs Children 2001Æ. This table lists regional infant mortality rate (IMR) statistics from around the world, including a listing for æindustrialised countriesÆ. Such countries experience an IMR lower by an order of magnitude than any other region. æIndustrialisedÆ inevitably involves the use of metallic and energy minerals. The principal use of copper is in the generation and distribution of power; it is fundamental to any industrialisation. IMR is a valuable connection because it quantifies caring for the young, a vital strategic driver of human behaviour independent of time, place, fashion or economic circumstances. I have tabulated the population, IMR and the copper demand per head of population for countries containing over 99 per cent of the population of the world in the years 1950, 1960, 1970, 1980, 1989, and 1999. These countries have been consolidated into four groups, Very High, High, Medium and Low rates of infant mortality (UNICEF has used this terminology; the Low group includes all the æindustrialised countriesÆ). The purpose of this consolidation was to reduce the volume of work, to dampen out the impact of regional wars and business cycles, and to dampen out the variable quality of information. Based on the pattern of the copper demand, population and IMR over the last 50 years, I have projected the likely copper demand in 50 years time. A dominant feature of my tabulation is the increase per decade in copper use per head and a corresponding reduction of the IMR. The word æuseÆ is preferred to æconsumptionÆ because it is estimated that over 80 per cent of all the copper ever mined is still in circulation There are two major influences at work; one is the absolute increase in population (UN estimates for 2050 are updated periodically) and the second is the movement of countries into a higher pattern of use and lower IMR. For example the Medium group in 1989 had an infant mortality rate approximating that of the Low group in 1960. With the population of the Medium group (which includes Russia and China) forecast to reach 2.6 billion in 2050, the world copper demand in that year will be significantly greater than the present figure. Nevertheless it will not be as great relatively as the increase of over 300 per cent in the last 50 years.

Jan 1, 2002

By Lysnar R, Horswill M

Since the introduction of the pocket calculator, electronic measuring equipment, lasers and computers, the mine surveyor's approach to his work has changed. Where he once used steel bands he now uses infra-red, visible light or radio waves. The reading and storing of angles is done automatically and he now has to be familiar with the facilities that a computer can offer, instead of plotting and calculating manually. This highly sophisticated equipment is continually being upgraded, modified and fine tuned. This paper will attempt to highlight some of the equipment at present in use by the surveying profession and research currently being conducted by the WA School of Mines. The various options in EDM will be considered including the latest unit capable of measuring distance without the benefit of a reflector, thus enabling the surveyor to co-ordinate points that were previously thought inaccessible. The School is currently working on changes to the GAK1 Gyro Theodolite which may improve results and enable the operator to have more control and confidence in his observations. Areas under consideration are improved lighting, binocular viewing and interfacing the instrument to a stopwatch. In the last few years the computer is being used not only for surface pickups and control but also for underground work. We will highlight the underground options in this area and the software available.

Jan 1, 1987

Coal Mining machinery has undergone enormous changes in design and complexity of controls in the past 10 years. Specialised, high productivity equipment has been manufactured in Australia, in sufficient volume, to satisfy the local mullet needs.Local manufacturers face greater challenges from overseas competition, as well as increased customer demands to improve machine performance, productivity, quality, reliability and safety. In order to meet these demands now and in the future, it will be necessary to review work practises, and restructure production and quality systems to incorporate the latest principles and philosophies.

Jan 1, 1991

Atlas Copco is one of the worldÆs leading providers of industrial productivity solutions (Atlas Copco, 2009). Furthermore, the company spans 160 markets and held 34 000 employees at the end of 2008. The company is organised under three ætechniquesÆ whereby the Construction and Mining TechniqueÆs business division is located within +rebro, Sweden. This paper is aimed at briefly facilitating information on how the company and more specifically, the Construction and Mining Technique is run. Also, by sharing my experiences, this paper is intended to encourage and motivate students currently studying for a degree relevant to the minerals industry, to apply for this extremely beneficial scholarship. Through a number of presentations relating to the various divisions, products and aftermarket services of the company, I came to realise that Atlas Copco extends beyond simply selling equipment suitable for the mining and civil industries. This tour through Sweden also contained highlights of visiting the Underground Rock Excavation factory, Surface Drilling Equipment factory and Secoroc divisions. I was also fortunate enough to participate in a tour of the LKAB mine in Kiruna. In addition, time was allocated to less industry related activities, and I was able to go dog sledging, sip vodka cocktails out of ice glasses at the Ice Hotel and enjoy traditional Swedish foods of moose and reindeer. Most important and memorable to me; however, was the ability for employees of Atlas Copco to speak of the company and their products with such passion and enthusiasm, which truly made this a motivational and unforgettable experience.

Jan 1, 2009

By N McIntyre, J Smart, J Ossa-Moreno, D Rivera

Hydro-economics is a field of research that analyses water resources from a multi-disciplinary approach (Harou et al., 2009). These models generally include one component that describes the water resources of the catchment being analysed (e.g. the physical behaviour of water), an economic component that describes users’ water demand function (changes of willingness to pay relative to availability) and a coupling methodology. These models go beyond calculating cash flows for water investments and analyse the economic behaviour of users when facing water shortages or surplus. In other words, water demand curves are defined for each water user (e.g. urban, agriculture, mining, environmental and hydropower), and they are used to retrofit the water resources component. As a result, the model approximates the catchment scale response to droughts and wet periods, including the effects of water markets, restrictions, recycling, water sharing and any cooperative efforts by users to adjust to changing climate conditions.These models are usually focused on agriculture and urban users, the main water consumers in most catchments, but they have sometimes included environmental, industrial and hydropower users (Bekchanov, Sood, & Jeuland, 2015). Nevertheless, although a relevant user of water in several catchments, the mining industry has been rarely included. This paper is part of an ongoing project that addresses this gap by developing a hydro-economic model in the upper section of the Aconcagua River in Chile. The aim of the paper is to analyse the sensitivity of the outputs of the model to changes in input data, both hydrological and economic, and to develop insight on usefulness of such models for reducing water conflicts in mining regions.CITATION:Ossa-Moreno, J, McIntyre, N, Smart, J and Rivera, D, 2018. Sensitivity of a hydro-economic model in a mining region to changes in hydrological and economic inputs, in Proceedings Life-of-Mine 2018, pp 52–55 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 25, 2018

By N Power, R Hassell, E Jones

Wiluna Mining Corporation are progressively re-entering the old Wiluna underground mining complex. The existing underground was abandoned in 2013 by previous owners and left to flood with water levels reaching above the East Pit portal and Happy Jack Pit portal and up to 300 m below surface in the Bulletin underground. Re-entering the mine commenced in 2017 with dewatering of the Bulletin decline. The underground development had been previously supported with friction bolts, with weld mesh in places. Until mid-2021 rehabilitation requirements were based on an external visual inspection of the installed ground support scheme. However, several incidents involving falls of ground due to corroded bolts have occurred during this time, showing that this approach was inadequate. The challenge the operation faced was should the entire decline be rehabilitated, the implication being not only a large rehabilitation cost but also the impact of severe delays to the mining schedule. The question was asked can the operation better understand the level of corrosion damage and potentially optimise rehabilitation requirements. A proposal to use a systematic approach to assess corrosion by environmental condition mapping, visual external corrosion assessment, and internal corrosion assessment via borehole camera inspections was provided and accepted by Wiluna Mining Corporation. The objective of this work was to produce a three-dimensional map showing the degree of corrosion on the reinforcement systems in the capital infrastructure, this would then be used to risk assess and prioritise rehabilitation requirements. This paper summarises the approach, methodology and results that provided the Wiluna mine planning team with information to enable planning of resources and budget to justify priorities of rehabilitation.

Nov 29, 2022

By I Sucholutsky, D M. First, D Mogilny, F Yusufali

Machine learning is creating value in all facets of the mining industry, from exploration to production. The authors provide an accessible, high-level introduction to artificial intelligence (AI), machine learning (ML), and deep learning (DL); the latter being widely recognised as one of the most powerful forms of ML. In particular, the authors will introduce deep learning models known as convolutional neural networks (CNNs), how they are applied, and the economic considerations necessary for determining when DL may be the right solution to de-risking complex block modelling problems. The authors present preliminary results from the mineral resource modelling study of the Jundee orogenic gold deposit, Yandal belt/gold province, Western Australia. The primary goal was to identify the direction and location of the narrow gold veins more accurately and demonstrate how non-linearly correlated elements are used as direct inputs to the resource model to assist with the target element’s grade prediction. This demonstrates that: (1) existing techniques for finding correlations between assayed elements do not adequately reflect the complex geology of the asset, (2) nonlinear correlations that are difficult to model as simple mathematical functions are representative of geological patterns in a deposit, and (3) non-linearly correlated assayed data, fed as inputs, increase the performance of the resource model as reconciled through blind tests. To conclude, the authors hypothesise that the patterns represented by the DL block models may be revealing the results of overprinting geological processes that generated mineral deposits. For example, the primary hydrothermal processes that deposited metals created depositional patterns that become particularly complex as a result of being overprinted, in part or in whole, by secondary physicochemical processes. This may explain why non-linear geochemical relationships have the capacity to generate more accurate block models of mineral deposits.

May 24, 2023

Mining companies around the world devote considerable effort to production reconciliation and metallurgical accounting. However, although sampling, weighing and analysis methods used to obtain the raw data for metal balancing continue to improve, they are still areas that are sadly neglected. Using the latest metallurgical accounting package to improve metal balancing is fundamentally flawed if the data used are unreliable in the first place. The basic rule for correct sampling is that all parts of the material being sampled must have an equal probability of being collected and becoming part of the final sample for analysis. If this rule is not respected, sampling bias can easily be introduced. Unlike precision, which can be improved by replication, bias cannot be reduced once it is present. Sampling and sample processing procedures must therefore be carefully designed both to minimise bias and to obtain acceptable precision. The most suitable sampling location is the discharge point of a process stream, where increments can be obtained by taking a complete cross-section of the stream with a sample cutter. Sampling devices that take only part of the stream may introduce serious bias and must be avoided. The moisture content and wet mass of the material being sampled are of similar importance to chemical analyses for determining metal content. The accurate determination of moisture content is particularly difficult, because the moisture content of samples can change after the sample is taken, eg due to moisture evaporation. Hence, moisture samples need to be taken quickly and placed in sealed bags or containers that are impervious to moisture. The moisture content should then be determined without delay. To determine wet mass, a range of weighing methods are used in industry, including weighbins, weighbridges, conveyor weightometers and platform scales. The precision and accuracy of these methods vary considerably, so it is important to select a method with the appropriate precision and ensure that the weighscale is well maintained and regularly calibrated.

Jan 1, 2002

By W Ilahi

Underground metalliferous mining methods often result in the formation of vertical openings to facilitate the extraction of orebodies. These development and production techniques can result in the creation of vertical open voids, which include stopes, orepasses, ventilation raises and other excavations. There are risks associated with the use of mobile plant in the vicinity of these voids, especially during backfilling and when bunds are constructed at the edge of a stope or void. These voids can present unacceptable risks if not adequately managed.

May 5, 2022

By R Wynn, N Stoitis, R A. Lauten, H Liang

At the Century mine in North West Queensland, MMG produces lead and zinc concentrates. The current production rate is close to 500 000 t of zinc per annum. Graphite is the main gangue in the orebody and a substantial quantity of chemicals are used to achieve an acceptable depression of graphite and other gangue materials in the current operation. In the future, it is anticipated that the content of graphite in the orebody will increase while the zinc grade will gradually drop. This scenario illustrates the importance of an optimised suite of flotation chemicals to maximise concentrate grade and recovery. As an alternative to the current reagent suite where dextrin is used to depress graphite, laboratory test work and subsequent plant trials were conducted with alternative depressants. These depressants facilitated both graphite depression and elevated zinc grades in the rougher concentrate. As an added benefit, it was also observed that the silica content in the zinc concentrate was reduced in the presence of the biopolymer selected for the plant trials. Results from both laboratory tests and plant trials will be discussed to illustrate how this change of reagent suite improved flotation yield at the MMG Century Mine.CITATION:Wynn, R, Lauten, R A, Liang, H and Stoitis, N, 2014. A change in graphite depressant to improve the recovery of zinc at MMG Century mine, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 179–186 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

By O Pasca, B Hogg

Consistent slag blow end point detection remains one of the challenges in the Peirce-Smith converters at Mount Isa MinesÆ Copper Smelter. Under blowing results in foaming on copper blow and carry forward of oxide skims to the anode furnace. Over blowing results in high copper losses to the slag. Both present safety issues and contribute to lower copper production. The end points of the slag making phases are assessed by inspection of a bar sample. A bar sample is a thin accretion layer that adheres to a steel bar when it is inserted into the tuyere while the converter is blowing. This method is biased and subjective, so there is heavy reliance on operator experience. The Semtech Optical Process Control (OPC) system was installed in early 2002 for converter slag blow end point detection. Initial plant trials did not improve all aspects of converter operations, and uptake by operators was poor, so the system was not used. In early 2005, the Semtech OPC system was re-visited and another short trial was conducted to evaluate the permanent use of the system for slag and copper blow end point detection. During this trial, the Semtech OPC method was found to be superior to bar sampling for slag blow end point detection. The implementation and refurbishment of the Semtech OPC system has resulted in plant improvements and given a better insight into converter operation during blowing. Oxide skim generation carried forward to the anode furnace has been shown to decrease with increasing compliance with Semtech OPC. Some of the expected improvements to converter operation were not found to be significant. Semtech OPC is now well received and utilised by converter operators. Individual paper available only. Not included in book or CD ROM Proceedings.

Jan 1, 2005

Banks' focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers' approach by: ò outlining the fundamental difference between banks' and investors' risk / return profiles. ò describing lenders' consequent use of cash flow methods in mineral valuation. areas. explaining lenders' specific treatment of key risk Fundamental to understanding banks' appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks' principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders' risk / return position is outlined.

Jan 1, 1994