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By Dodd SF

Valuation of mining companies and their underlying assets prepared by brokers' analysts are, by necessity, approximations. The reliability of the valuations is entirely proportional to the quality of available data, the reliability of forecasts and the nature of underlying commodity price assumptions. The latter is perhaps the greatest single cause of gross variations in company and asset earnings estimates and- valuations. Assumptions are often necessary regarding commodity price achievement based on commodity hedge positions. Public disclosure from listed companies provides a sound base from which to project earnings, cashflows and balance sheets. The uncommon disclosure of projected production and cost schedules often reduces the reliability of future estimates. The application of reserve and resource estimates is contentious with practitioners applying differing weightings to importance of resources in estimating mine lives (and therefore cashflow streams). Valuation methods applied in equity markets usually focus on relative value and the identification of pricing anomalies. The commonest ""rules of thumb"" applied in the valuation of mining companies (and therefore their underlying assets) is with the use of year specific price/earnings (P/E) and price/cashflow (P/CF) ratios, with low multiples suggesting undervalued assets, high multiples overvalued situations (but these rules can often be clouded by market expectations of underlying commodity price movements). Another simply applied valuation tool is to examine the examine the value placed on reserves and resources by the market. Inexpensive gold in the ground (expressed as $ of market capitalisation per ounce of reserves or resources) might indicate a buying opportunity, but the market does discount the value of gold in the ground prior to mine development and where development risk is perceived.

Jan 1, 1994

By Brandon Axelrod

This paper follows a student’s interest in explosives which began at an early age after watching a television program highlighting explosives engineering. The use of explosives in those programs led to curiosity about how one gets involved in the industry. These programs enticed the author to further investigate the explosives industry leading him to an explosives camp for high school students. After attending the camp, this passion further developed into postsecondary education.

Jan 1, 2015

By T. L. Johnston

The Dobbins property, about 4-1/2 miles northeast of Cartersville, Ga., was fist operated in 1866, it is the oldest manganese mine in Georgia and one of the oldest minus in the United States still producing manganese ore. Changes in ownership, lessees, and operators and lack of records prevent the compiling of statistics regarding total production of ore from the property.

Jan 1, 1942

By T. L. Johnston

The Dobbins property about 4-1/2 miles northeast of Cartersville, Ga., was first operated in 1866. It is the oldest manganese mine in Georgia and one of the oldest mines in the United States still producing manganese ore. Changes in ownership lessees and operators and lack of records prevent the compiling of statistics regarding total production of ore from the property

Jan 1, 1942

By M. M. Gadde

Recent regulatory changes in the United States make it mandatory to conduct structural analysis of coal mine seals used to isolate abandoned workings from active mining areas. Different loading criteria are available for seal design depending on whether gob composition is actively monitored and maintained or not and whether the gob conditions lead to deflagration or detonation type loading. Since the loads involved in seal designs are dynamic in nature, the structural analysis must be made using dynamic stress analysis techniques. However, because of the significant complexities involved in conducting dynamic analyses, some designers use approximate simplified techniques to address the design problem. In this paper two such simplified methods are critically evaluated for their suitability to design coal mine seals. The benefits and limitations of the simplified methods are also outlined. Some comparisons are made to show the differences between sophisticated three dimensional dynamic analyses and the simplified methods and to delineate the problems associated with the latter approaches.

Jan 1, 2009

By Clarence Hall, J. J. Rutledge

Many of the fatal accidents in coal mines have resulted from the Explosives used in Use of explosives for breaking down the coal. These accidents have resulted both from the use of explo- sives that were not suitable and from the careless or improper use of suitable explosives. Investigation has shown that one of the commonest causes of dis- astrous explosions in the coal mines in this country has been a blown- out shot of black blasting powder or dynamite. The dangers that attend the use of these explosives were perceived several years ago, and in consequence the attention of powder manufacturers was directed to the production of explosives that would be less liable to ignite inflammable gas or dust. The manufacturers have been so successful in their efforts that it is now possible to obtain explosives which yield much shorter and quicker flames than black blasting powder or dynamite, and hence are much less dangerous to use in fiery or dusty coal mines. of explosives. To find out which of the many grades of short-flame explosives Government tests have the qualities that render an explosive most effective and least dangerous for mining coal, the United States Government established a testing station at Pitts- burgh, Pa., in 1908. This station is now under the charge of the Federal Bureau of Mines. Before the station was opened a state- ment of the requirements that the explosives in question would have to satisfy was drawn up and sent to manufacturers. A number of these sent explosives to be tested, and on May 15, 1909, a list of the explosives that had passed the tests was published. Since that date other brands of explosives have been tested and three more lists have been issued. The latest list, published in Miners' Cir- cular 2, Bureau of Mines, contained the names of no less than 71 explosives that had passed the tests prior to January 1, 1911.

Jan 1, 1912

By Verne E. Hooker

Stress-relief techniques and instrumentation have been developed through many years of research in the Federal Bureau of Mines and successfully used to determine the in situ state of stress in rock. This paper describes the drilling equipment and accessories for use with the Federal Bureau of Mines three-component deformation borehole gage. Operation and calibration procedures for the deformation gage are discussed in detail. Site selection and overcoring procedures are included to provide a complete working knowledge for surface or underground applications.

Jan 1, 1974

By Margaret R. Egan

A study of the combustion emission products of rigid ventilation ducting was completed by the U.S. Bureau of Mines. The ducting was composed of fiberglass-reinforced polyester resin. Four properties of the ducting were evaluated: (1) propensity to ignite, (2) smoke characteristics, (3) gas emissions, and (4) heat release. Particle sizes, obscuration, optical densities, and production constants for gas and smoke were also calculated. These results provide comprehensive data about the emission products, detectability, and relative hazards of fiberglass-reinforced plastic ducting and other mine combustibles under realistic fire conditions.

Jan 1, 1990

By Marco Muñoz

La mina Porvenir, perteneciente al Grupo Milpo, está ubicada en Cerro de Pasco, destacándose por la corporación de equipos de alta tecnología minera adecuada a sus operaciones. En ese sentido, el presente texto señala el sistema de gestión operativa aplicado en la mina Porvenir con el objetivo de apoyar las operaciones, ya que la tecnología de información permite manejar complejidad y mejorar la calidad de las decisiones.

Jul 17, 2000

Flow Sheet Development of Three Geographically Distinct Chromium-Bearing Ores

Sep 13, 2010

By R. J. Seibel

A statistical comparison of the dust exposures of coal miners with identical occupations in Pittsburgh, Pocahontas, Freeport, and Kittanning seams was conducted. Results indicated that, in some cases, identical occupations have different dust exposures in different seams. For example, the continuous miner operator in the Pittsburgh and Pocahontas seams is exposed to more dust than the same man in the Kittanning seam, but the Kittanning seam has more dust along the haulage roads than the other seams. Also, average dust exposures for similar occupations in continuous and conventional mining operations are similar.

Jan 1, 1974

By Ray Brandon

The recent introduction of polymer geogrids for ground control purposes in underground mines allows mine operators more flexibility in choosing improved products for several applications. This is evidenced most clearly in longwall recovery operations. Since November, 1994, many mine operators have chosen Fortrac geogrid assemblies for the purpose of securing longwall recovery areas prior to shield removal. Fortrac is a lightweight, strong, and flexible polyester geogrid available in many strengths. Utilizing the "diamond" seaming method, different strengths of Fortrac geogrids are easily fastened together so stronger geogrids may be placed in the most critical areas and lighter geogrids in less critical areas.

Jan 1, 1996

By Erik Westman

Coal bumps remain one of the industry?s most devastating but least understood phenomena. If changes to the internal conditions of the rock mass could be observed there is hope that bumps could be forecasted. Seismic tomography has been used over the past 25 years in an attempt to image these changing conditions in the vicinity of the longwall face. This paper describes the history and practical considerations of using seismic tomography in bump-prone coal mines. The implementation of seismic tomography at six different longwall mines will be described along with lessons learned. Early studies used mining independent sources of seismic energy, including explosives and sledgehammers. Subsequently more operator friendly sources, such as the mining equipment itself and mining-induced seismicity, were used. Seismic energy sensors have been placed in gateroads and on the surface above the mine. Each of these configurations has associated advantages and disadvantages. Although the results obtained have been encouraging, the application of seismic tomography to monitoring a bump-prone longwall face is still immature. The ultimate goal of clearly imaging changing stress conditions in the longwall panel in a manner that does not inhibit mining operation is still distant, yet drawing nearer. When this goal is achieved, the industry will have a capable tool for identifying locations where bumps are imminent.

Jan 1, 2008

By A T. Job, P R. McAree

There is significant value at stake in the mining industry from the implementation of new technologies that support the enhanced profitability and sustainability of mines. However, in order to realise this value, new technology must be implemented in a way that is both effective and sustainable. The industry has a mixed history for technology implementation that provides fertile ground for understanding what is necessary for innovation to deliver value. This paper describes early stage research investigating why this is so, with the aim of improving how to deliver value. Several case studies are provided covering both successful and unsuccessful technology interventions. The paper identifies the common factors that emerge from the case studies, and offers a path forward for further research in this area.CITATION:Job, A T and McAree, P R, 2017. Three case studies on the implementation of new technology in the mining industry, in Proceedings Iron Ore 2017, pp 407–414 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By C. Musingwini

An often overlooked factor in the analysis of mine layouts and schedules is technical operating flexibility (or tactical flexibility), mainly due to its nebulous nature. By glossing over technical operating flexibility the resultant mine layouts and schedules maybe suboptimal. The need to incorporate technical operating flexibility into the analysis and comparison of mine layouts and schedules is increasing in importance. The nature of technical operating flexibility is illustrated, previous work on valuing of operating flexibility reviewed, and a proposal made on how technical operating flexibility can be quantified for tabular reef mines by using a platinum reef deposit as a case study. Once technical operating flexibility has been quantified it becomes possible to explore its incorporation into the analysis of mine layouts and schedules and subsequent optimization processes. This paper is a revised version of a paper presented in the Proceedings of the Second International Platinum Conference, ?Platinum Surges Ahead? in 2006. The work described in this paper is part of a current PhD study at the University of the Witwatersrand. Keywords: mine plans, layouts, schedules, technical operating flexibility/tactical flexibility, ore availability.

Jan 1, 2007

By M. A. van Nierop

Load behaviour in an industrial mill has been measured directly by inserting probes through liner bolts. The data from conductivity probes have indicated the presence of premature centrifuging during manipulation of the load mass. Overloading conditions were also encountered. Overloading and premature centrifuging both reduce the power drawn by the mill. These effects have been successfully modelled.

Jan 1, 1997

By M. R. Haibach, M. L. Shema, J. M. Silvis

"Since 2005, longwall coal mine operators in Pennsylvania (US) have been required to collect extensive hydrologic and biological data to document pre- and post-mining conditions of aquatic resources (streams and wetlands) overlying the subsidence control plan areas. Continued operation of the longwall mine is dependent upon empirical data demonstrating that the undermined aquatic resources have either been maintained or restored to an accepted range of pre-mining conditions. This study used quantitative hydrologic methods and comparative biological metrics to examine response of aquatic resources to longwall subsidence at the Bailey Mine located in Greene County, Pennsylvania. This study analyzed data from over 25 miles of streams and over 8 acres of wetlands that traverse the 4,779-acre study area. Hydrologic analysis of flow intermittency suggested that there are variable degrees of change to headwater streams immediately following mining; however, the majority of the effects are reversible through streamflow mitigation measures. Furthermore, the post-mining discharge from streams can be restored to within the range of pre-mining conditions the majority of the time. Biological assessments showed that greater than 95% of assessed stream length has maintained its ability to support benthic macroinvertebrate communities following mining and intervention (i.e., mitigation). Comparative metrics of the benthic macroinvertebrate communities showed that the biological community in 48 of the 50 sample sites is being maintained or restored across both high- and low-gradient streams. The effectiveness of intervention was further substantiated by the similarity in recovery times between streams having no intervention (median = 2.1 years, 95th percentile = 4.9 years) and streams with intervention, when recovery times were measured from the date of the intervention (median = 1.7 years, 95th percentile = 4.7 years). Changes to individual wetlands were observed between the pre- and post-mining assessments, but cumulatively a net gain of 7% in wetland acreage was realized. Hydrologic assessments were used to infer whether there was a potential that streams had been affected by mining; however, the ultimate test of stream recovery is based on biological metrics that establish the relative quality of the biological communities following mining. Overall, the hydrologic balance is being protected and the aquatic life use of streams is being maintained within the Bailey Mine’s subsidence control plan areas."

Jan 1, 2017

By John J. Ginty

The objective of the work reported herein was to evaluate state-of-the-art repeaters used in wireless communications to determine their suitability for use in extending the range of portable and mobile communications in underground mine applications. The scope of the work included wireless repeaters in the frequency range from LF (500 kilohertz) up to the one giga-hertz range. These repeaters included not only single-channel repeaters, that is F1/F1 repeaters for short range simplex party line communications, but in addition, F1/F2 type repeaters currently commercially available in the HF, VHF and UHF bands.

Jan 1, 1975

By S. R. Amos, N. O. Lotter, A. L. Hannaford, J. F. Oliveira, D. W. Broughton

"Ivanplats Ltd appointed Xstrata Process Support to perform the flowsheeting development work for their hypogene and supergene geomet units of the Kamoa Copper deposit, located in the Democratic Republic of the Congo. Through systematic flowsheet development using modern Process Mineralogy, the optimised milestone flowsheet delivered a saleable concentrate grade of 32.8% Cu at 85.4% recovery with hypogene ore, and a saleable concentrate grade of 45.1% Cu at a recovery of 83.4% for supergene ore. The significant value of this development is that a single flowsheet will treat both hypogene and supergene ores and produce saleable concentrates. Further work to advance the flowsheet performance has been identified for investigation in the near future.INTRODUCTIONLocation and Description of the Kamoa DepositThe Kamoa copper resource is located some 40 km west of the city of Kolwezi, in the south west of the Katanga Province of the Democratic Republic of the Congo, in the region of Central Africa. Drilling at Kamoa in 2008-2009 had discovered laterally continuous, sediment-hosted, high-grade stratiform copper mineralisation in a newly discovered copper district that forms a previously unrecognised western extension of the famous Central African Copperbelt – which hosts such world-class deposits as Kolwezi, Tenke-Fungurume, Konkola and Nchanga. This discovery showed that the western end of the Copperbelt in the Congo does not terminate at Kolwezi (Friedland & Broughton, 2009). The resource contains hypogene and supergene geomet units with a transitional zone located inbetween the (upper) supergene and the (lower) hypogene. In the hypogene unit, the major copper sulphides are bornite, chalcopyrite and chalcocite, whilst in the supergene, the sequence is led by chalcocite, then bornite, and finally chalcopyrite. Covellite is present in both units as a minor copper sulphide. Both geomet units will be mined and treated in one concentrator, either as blends or as campaigns."

Jan 1, 2013

Thermodynamics of Non-Cyanide Gold Solvents The present status of the raw material base in the gold industry requires specific ways to recover gold and silver from ores. Most gold is closely associated with sulfides which require flotation followed by pressure or bacterial oxidation. The next stages of processing usually require using expensive operations for the preparation of leaching. A lot of researchers want to find a new alternative solvent for the extraction of precious metals from these products. According to the authors, one of the best ways is to use sulfur-based solvents (thiosulfate, sulfite, and their various mixtures). Thermodynamics of gold and silver thiosulfate dilution are calculated for conditions: the concentration of Au - 200 mg/L, oxygen - 3.2 mg/L, thiosulfate - 79 mg/L, OH- - 170 mg/L. the general result is the possibility of process remains under standard conditions. (erAu = = 0.035 V, ?G298 = - 29.18 kJ/g-atom ??). Silver with thiosulfate forms two strong complexes: [AgS203]- and [Ag(S203)2]3-. ?G0 = -1027 kJ/mol. The complex [AgS203]- is less stable: ?G0 = 486 kJ/mol. It should be noted that despite the high stability of gold complexes, the sodium thiosulfate may decompose to sulfite and elemental sulfur during the process, especially when heating. Gold is slightly soluble in the sodium sulfite solution, however it forms the strong complex [Au(SO3)2]3-. Depending on the concentration of free S2O32-ions, silver with sodium sulfite forms three complexes: [AgSO3]-, [Ag(SO3)2]3- and [Ag(SO3)3]5-. The dissolution speed of gold in sodium sulfite solution may be in the same range as it is during cyanidation. In this case, a practical application of sulfite process can be also used, especially for the products containing free elemental sulfur. In conclusion, sulfite-thiosulfate gold lixiviants can be used for concentrates after pressure oxidation of the cakes.

Sep 13, 2010