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By C. Musingwini, A. S. Nhleko

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

Jan 1, 2016

By J. P. D. Strydom

The transmission of excessive vibration to the human body can cause physical stress that may result in crippling pain or permanent disability. Rock drills are known to transmit high levels of vibration that are difficult to attenuate through conventional approaches to vibration isolation. However, it can be shown that once the ISO frequency weighting has been applied, most of the vibratory effect of the rock drill?s motion is concentrated at the drill?s operating frequency. This observation opens the way for utilizing a concept known as vibration absorption, aimed at attenuating the rock drill?s vibration. In essence this entails using the inertia of a secondary vibratory system to counteract the motion of the handle. This article documents an investigation into the use of such an absorber for attenuating rock drill vibration and demonstrates the feasibility of such an approach. A mathematical model of such an absorbing handle was developed and used for design studies. Based on these investigations an experimental prototype model was manufactured and tested. A significant reduction in vibration levels could be achieved.

Jan 1, 2002

By A. M. Hearn, J. R. Henning, A. S. J. Van Rensburg

The lining, together with the electrodes, forms the heart of the operation of a submerged arc furnace. Subsequent to a lining failure on M12 furnace during the early 1980s, Metalloys was active in investigating the concept of thermally efficient ?freeze? linings for its furnaces. The theory revolved around that, not only would, thermally efficient linings result in significant cost savings, but they would also last longer as a result of being subjected to less harsh operational conditions. After having proved the concept on the .smaller. furnaces, Metalloys decided to implement the concept on its largest submerged arc furnace, M12 Subsequent to having recovered from an impending failure of a lining installed in 1981 in M12 in the mid 1980s, Metalloys managed, through rigid lining management, to extend the life of this lining to 1999. At the end of 1999 the decision to replace the lining in the furnace with a ?freeze? lining was made and planning and design proceeded in earnest. This paper discusses the options considered in making the final decision. The features of the design of the lining are also discussed. Consideration is given to the furnace shell cooling system as a result of its importance in maintaining the thermal equilibrium in the lining. Note is made of the fact that the purchase of a .freeze. lining is an expensive exercise but that the time savings in the installation of the lining and the efficiency improvements during operation far outweigh the additional capital cost. The experience on M12 has been that the payback period of the marginal capital expenditure is less than three years. As a result of the opportunity to reline a furnace the size of M12 not presenting itself very often, the learning points from the installation of the lining and the operational advantages and disadvantages are significant. Finally, the point is made that the project had its pros and cons but overall the success of the project has been evident and, as such, the ?freeze? lining is likely to become the norm at Metalloys.

Jan 1, 2004

By A. M. Milev

A stand-alone instrument especially designed for recording strong ground motions was used in this study to create a large data base of peak particle velocities measured on stope hangingwalls. A total number of 58 sites located in stopes mining the Carbon Leader Reef, Ventersdorp Contact Reef, Vaal Reef and Basal Reef were monitored. The peak particle velocities were measured at the surface of the excavations to identify the effect of the free surface and the fractures surrounding the underground mining. From the monitoring results obtained, the velocity criterion of 3 m/s will bean adequate value that support systems have to sustain during a rockburst in most cases. However, PPVs in excess of this criterion were recorded, and some PVDs were damaged or irretrieveable, a consequence of which was that possible extreme events were not recorded. The data recorded on the skin of the excavations were compared to the data recorded by the mine seismic networks to determine the site response, defined as the ratio of the measured peak ground velocity to the peak ground velocity inferred from the mine seismic data. The site response measured at all mines studied was found to be 9 ±3 times on average. Values of the site response did not vary significantly with seismological parameters such as peak ground velocity, hypocentral distance and source radius.

Jan 1, 2005

By I. B. Fernandes, M. A. Reuter, A. Abadias Llamas

Metallurgical simulation and evaluation of the resource efficiency of whole production processes are of key importance for impact assessment, in terms of environment and resources. Exergy is a measure of resource consumption, taking into account energy, raw materials, water, and chemicals; which allows for the evaluation of different technologies to find the most resource efficient and environmentally friendly process. This paper compares the sustainability for production of rare earth magnets from primary and secondary resources through an exergetic evaluation of the production process, in addition to traditional life cycle assessment (LCA). The methodology makes use of simulation tools for tracking material flow and resources used, based on thermodynamic laws, from ore exploitation to magnet production and recycling. It highlights areas with the greatest potential for improvements in terms of resource consumption and environmental impact generation, having a thermodynamic-validated flowsheet for primary and secondary production of NdFeB magnets, present in several low-carbon technologies, such as wind turbines, electric vehicles, and cooling systems. It demonstrates the minimum exergy destruction for magnet production, through an irreversibility breakdown chart, showing where irreversible material and energy losses occur. Results show that CO2-equivalent emissions for producing NdFeB permanent magnets from primary resources could be twice as high when compared to magnets produced from recycling technologies. The theoretical maximum exergetic efficiency for primary production is 57.61%, whereas for permanent magnets produced from secondary resources, the exergetic efficiency reaches up to 82.89%. Two magnet recycling technologies were evaluated, i.e. in acidic medium and via hydrogen decrepitation, and it was observed that their exergetic efficiency and environmental impact performed better than production from primary resources. Keywords: Resource efficiency, exergy analysis, permanent magnet recycling, process simulation, system design

Jan 1, 2020

By K. Moxham, R. G. B. Pickering

Over the last few years Lonmin Platinum and Sandvik have embarked on a unique partnership of collaboration through a systematic approach to developing equipment to mechanize and automate narrow reef platinum mining. After the initial design and manufacture of the equipment the key aspect is the integrating equipment, people and method into a mining system. Another key a spec of mechanization is the optimization of equipment utilization and this philosophy has ensured continual evolvement of mining methods. This paper describes the trials and development that have resulted in the mining method described as Lonmin mechanized breast.

Jan 1, 2006

By S W. Robertson, A Vercuil, P Craven

Mintek is currently developing a design approach for the heap leaching of low-grade primary copper sulphide material. Since the leaching of chalcopyrite requires elevated temperatures, the generation and management of heat within the heap is crucial. Furthermore, the precipitation of iron needs to be managed to prevent premature blinding of the heap, and acid consumption needs to be limited to contain cost and limit the dissolution of gangue impurities. Standard column tests using jacketed 1-m and/or 6-m columns do not allow accurate prediction of temperature changes and heat generation in an actual heap. Mintek therefore utilizes a computer model to calculate the energy balance and heat generation with time, based on the measured sulphide oxidation rates in the column. The temperature in the column is then adjusted to reflect the computer-predicted temperature in an actual heap. Using this approach, an overall copper extraction of 70% was achieved in 120 days, using 1-metre columns, when treating an ore blend containing 1.36% chalcopyrite, 0.23% chalcocite, 0.07% covellite, 3.8% pyrite and silicate gangue (92%). The chalcopyrite contribution to the total copper content in the feed was 75%. This was followed by 6-m columns using a similar approach, and the column results will be validated on a 23,000 tonne test heap. Key Words: heap; bioleach; chalcopyrite

Jan 1, 2005

By R. Webber-Youngman

The Department of Mining Engineering at the University of Pretoria accepts that the process of teaching and learning improvement is an ongoing exercise with the ultimate aim to deliver well-rounded mining engineering practitioners. Various challenges impact on the success of this process. An integrated and innovative process was developed and is followed in the Department to overcome these challenges. The aim of the Department is to apply a holistic teaching approach by introducing multiple integrated interventions with regards to teaching and learning strategies. Three phases of this process are discussed in this article, and are illustrated in Figure 1. During the first phase, prior to 1999, several teaching and learning challenges were identified in the Department of Mining Engineering. These challenges are discussed in the next section. In the current phase, a variety of interventions to address the challenges are being developed, implemented (in some cases piloted), and evaluated. The future phases will focus on the improvement, successes, and full roll-out of current interventions, as well as on training, development, and support for all staff members to participate in the process. (Figure 1)

Jan 1, 2011

By A. Fahimifar, H. Soroush

Abstract: In order to develop non-destructive methods in studying physical and mechanical properties of rock and replacing them with difficult and expensive static methods, several ultrasonic tests were carried out on cylindrical rock specimens in accordance with the ISRM suggested methods and velocity of P and S waves were determined. Also, density, porosity, water absorption, uniaxial compressive strength and indirect tensile strength were determined for each specimen in accordance with ISRM suggested methods. According to above tests static and dynamic elastic constants were calculated After statistical analysis of data obtained from tests, the relationships between velocity of elastic waves and physical or mechanical parameters were determined and some equations were obtained. Also similar analyses were performed on static and dynamic constants and some equations were extracted. Using these equations, the physical and mechanical parameters of rock and also static elastic constants can be estimated by conducting simple and quick tests (i.e. ultrasonic tests). Abriß: Um zu entwickeln, die zerstörungsfreien Methoden für Studieren die physischen und mechanischen Eigentümer von Steinen und auch ist für Ersetzen diese Methoden mit schwierigen teuren statischen Methoden, mehrere altrasonic Prüfungen auf zylindrischen Steinproben gemäß ISRM anregenden Methoden und den Geschwindigkeiten von S und P Wellen bestimmt worden sind durchgeführt worden. Außer der Dichtheit und der Porosität betonen Wasser Aufnahme und monoaxial Widerstand und dehnbaren indirekten Widerstand jeder Probe betreffend der erhaltenen Ergebnisse die atmosphärische Aufladung sind bestimmt worden und die dynamischen Faktoren der Steine sind kalkuliert worden. Nachdem statistische Analyse die Korrelation der Ergebnisse zwischen der Geschwindigkeit elastischer Wellen und mechanischer und physischer Eigentümer der Steine erhalten worden ist, und mehrere Verhältnisse sind vorgeschlagen worden. Eine ähnliche Analyse ist auf atmosphärischer Aufladung und dynamischen Faktoren durchgeführt worden und einige Verhältnisse sind erhalten worden. Mit Hilfe dieser Verhältnisse die physischen und mathematischen Eigentümer von Steinen und auch können die Statistik Faktoren durch einfachen und schnellen altrasonic Prüfungen erhalten werden. Resume: Puor le development des method non-destructive et evaluuation des propietes physical et mechanical des rock et superseding avec les methods dificzle et cher statique, c‘ est fait plusieur essayes ultrasonique sur les echantillons cylinrique et par a port le proposale TSRM et le vittesse des ondes P et S et densite et porosite et absorption des eaux le resistant de pression uniaxial et resistance de chaque echantillon est determinee. A la fin en base des resultat obtenue les constant statique et dynamique des roches sont calcule. Apres les analyses statistiquc sur les resultat obtenue du les essaybs, c‘ etait produit les relation entre les viptesse les ondes elastique et les proprietes physic et mechanicue des roches et c est propose quelque relations. Aussi le meme enterpretation sur les constant statique etdinamique. En possezon de ces relations, les spesificatio physique, aussi on peut trouver leur constant statique, avel les essayes sample et raptid a d ultrasonique.

Jan 1, 2003

By R. H. Estrada-Ruiz

This work analyses a new approach to estimates bubble size distribution of froth surfaces using artificial neural networks (ANN).Also, the robustness of ANN to interpret images with illumination perturbations, produced by light problems or dirt attached to the window of the video camera is evaluated. The experimental work was carried out in a laboratory flotation column, instrumented with an image acquisition system. The images were processed making use of a perceptron model with a hidden layer, sigmoidal transfer function and unitary bias, and the ANN trained with a back propagation algorithm. The results of validation show that ANN are reliable for learning and producing generalized predictions of the froth mean bubble diameter and bubble size distribution, when the model is trained using a database that contains information on the illumination intensity. Keywords: image analysis, neural networks, bubble diameter, bubble size distribution.

Jan 1, 2009

By R. C. D. Phillis

Conventional stoping in hard rock mining is largely considered an operational environment. This paper suggests that stoping falls within the realm of a project management environment typified by uncertainty, variation, and large numbers of interdependencies. Stoping was then equated to a micro-project with many simultaneous activities that had to be executed accurately using finite resources within limited shift durations in order to reach specific goals. Critical chain project management (CCPM) principles were applied to the stoping activities, and the results showed that the number of blasts per panel can be significantly increased by successfully moving the distribution of work as close as possible to the start of shift. Critical chain principles also assisted in facilitating re-focusing and teamwork among stoping crews as well as between day- and night-shift crews. The main recorded success was in managing inherent protective capacities/local contingencies/fat/buffers that are found in all projects. The impact on mine health and safety (MHS) was significant as individual operators and crews became convinced that they could perform all stoping tasks (activities) without compromising accuracy or speed.

Jan 1, 2011

By M. H. Solomon

After the global financial crisis of 2008, African mining is entering anew phase of development. The rapid withdrawal of emerging market funding from the critical exploration and development industries provided a hiatus in funding, a gap which was quickly filled by Chinese and other Asian investors. While the continent is still economically dependent on its extractive industries, the prevalence of Dutch Disease has undermined Africa?s ability to benefit fully from its mining, oil, and gas industries. While the extractive industries are closely related to many of the more fragile and failed states in Africa, it is equally true that the strongest states in Africa have mining-based economies. This paper explores the possible linkages between mining, strong and weak political economies, and poverty in Africa. It draws the conclusion that neither Dutch Disease nor Resource Course is a given in resource-endowed countries, and that it can be avoided if the mining economies in these countries are actively integrated into their respective broader economies and used to foster economic diversification. The author asserts that given the capacity constraints of many African governments, it is contingent on mining companies to become integrally involved in catalysing diversification around their infrastructure and supply chains.

Jan 1, 2011

In constructing a financial model of a project significant effort is expended on capital and operating cost estimation, commodity price forecasts, and choice of discount rates while uncertainty in the primary input, the reserve, is often completely overlooked. The aim of this paper is to highlight the impact of uncertainty in the resource/reserve estimation process on the assessment of the financial performance of a project. Four qualitative processes have an impact on resource/reserve uncertainty. These stages are: 1.Ore definition 2.Geological interpretation 3.Resource estimation 4.Ore reserve estimation and mine planning. Each stage contains a number of tasks that may be considered as key performance activities (KPAs). Optimizing the manner in which these KPAs are completed can remove a great deal of uncertainty and error from the resource/reserve process. Examination of these KPAs within a company can also provide an insight to the quality of the information underlying the project. This will allow the company to identify any shortcomings in the data and to assess the resulting risks (Gilfillan, 1998). A hypothetical financial model based on a gold operation has been used to estimate the potential effect of resource/reserve uncertainty on revenue. Monte Carlo simulation has been employed to simulate a number of hypothetical scenarios: 1.a base case scenario which assumes no major errors or biases, but contains realistic margins for uncertainty that would exist in any project where work is being completed to the limit of best endeavours 2.a poor sampling scenario which assumes poor sampling practice and lack of understanding of sample preparation 3.a poor resource estimation scenario which assumes poor modelling and inappropriate choice of interpolation technique, and 4. a ?typical? scenario which represents a project where the majority of KPAs are not performed as best as they could be. The results show that realistic uncertainty ranges can generate changes in the estimate of potential revenue of plus or minus 30%.Therefore, it is important to allow for errors in these processes in any financial analysis or feasibility study. It is recommended that, when building a financial model, are view of relevant resource/reserve KPAs be carried out and appropriate ranges for uncertainty be applied to provide a range of potential outcomes. These outcomes can then be factored into the detailed cash flow analysis in order to ensure that technical uncertainty is built into financial decisions.

Jan 1, 1999

By D. Malovichko

Seismic events and pillar failures observed in two platinum mines in the Rustenburg area, South Africa, were investigated. We studied the sources of approximately 300 largest seismic events recorded in 2009. Moment tensors of these events were estimated from amplitudes and polarities of P- and S-waves. The inverted mechanisms contain isotropic implosive components in many instances. Analyses of uncertainty of the moment tensor solutions confirmed the significance of the implosive component in general. Several documented cases of pillar failure were considered in detail. For each of these a seismic moment tensor was calculated from an elastic stress model assuming an instant removal of a failed pillar. The geometries and magnitudes of the theoretical seismic moment tensors are in agreement with the observed (i.e. inverted from seismic data). The results indicate that either pillar failure or fracturing in the proximity of the reef (within a fraction of the dominant wavelength of seismic waves) are responsible for a significant portion of the large events recorded in these mines.

Jan 1, 2012

By C. Scheffer

This paper describes a model that can simulate the behaviour of a pneumatic intensifier that is generally referred to as an ?air pump? (AP). The AP is used in many South African underground mines, and utilizes compressed air with pressures between 0.3?0.6 MPa to pump water up to pressures of 12?18 MPa. The high pressure water is used in numerous underground mines to pressurize props and roof bolts that act as safety and roof support devices. The simulation model reproduces the intensifier's operation under various conditions and therefore can be used to investigate the AP's sensitivity towards environmental conditions, design parameters (such as spring stiffness, plunger diameter, nozzle diameter etc.) and operating conditions. Model validation by comparison with laboratory experiments showed good correlation. The model can subsequently be used to investigate design changes aimed at improving the AP's performance and reliability over a wider range of operating conditions.

Jan 1, 2005

Electrochemical measurements are presented on electro-deoxidation of silica in molten calcium chloride at 900°C, with porous silica pellets as starting material. Measurements during pre-electrolysis (to remove water from the melt) showed electrochemical noise, which is consistent with the evolution of hydrogen. Throughout, the dominant anodic reaction appears to be CO2formation, based on the observed potential at the anode, and measured anode wear. Because of the presence of dissolved CaO in the melt, some of the CO2 candissolve in the melt; the resulting calcium carbonate formation was confirmed by electrolyte analysis after reduction runs. Reduction of dissolved CO2 at the cathode is likely to contribute to the background current during the reduction process. For the electrode and cell configuration used here, most of the over potential arises from polarization of the anode, and ohmic potential drop in the electrolyte.

Jan 1, 2006

By L. Arnberg, E. Ott

The microstructure of ferrosilicon is important since it controls the disintegration of the material during crushing and thus the generation of fines. Therefore a study of the microstructure formation during solidification of pure FeSi(75wt%Si) and FeSi(75wt%Si) containing 1.2wt%Al and 0.2wt%Ca has been initiated. The material has been cast into rods of 8mm diameter, which have been remolten by induction heating and directionally solidified in a Bridgman apparatus. This allows the temperature gradient and the growth rate to be controlled independently. The temperature history during solidification has been recorded by a thermocouple in the melt. Growth rates have been varied between 5 and 400µms-1 and temperature gradients between 3 and 14°Kmm-1. The microstructures show a large dependence on the solidification conditions. The crack formation in the alloys has been studied and found to be strongly related to the microstructure.

Jan 1, 2004

In a gravity separation device, particle shape, size and density all play a role. The combination of these determines where each individual particle reports to in the viscous fluid, where particle crowding (solids to water ratio) also plays a role. To understand the performance of gravity separation devices in the heavy mineral industry, these particle characteristics need to be measured. There are various challenges in analysing particle density and particle size simultaneously for the purpose of quantifying gravity separator performance, not to mention particle shape. These analytical challenges include the high cost of high-density sink-float fractionation, toxicity of high-density sink-float media, inability of sink-float media to fractionate at densities greater than 4.0 g/cm3, and the time-intensive nature of these fractionations. The use of the detailed particle-by-particle output from Qemscan® particle mineral analyses (PMA) as a fast and cost-effective alternative is evaluated. The size and density outputs from the Qemscan® were employed to characterize the performance of a heavy mineral spiral concentrator as an example. Critical analytical requirements are to be addressed before the Qemscan® output data can be utilized. Keywords Gravity separator, performance, heavy minerals, Qemscan® particle mineral analysis

Jan 1, 2011

By B. G. Tarasov

This paper proposes the further development of a recently identified shear rupture mechanism (fan mechanism) that elucidates a paradoxical feature of hard rocks ? the possibility of shear rupture propagation through a highly confined intact rock mass at shear stresses that can be significantly less than frictional strength. In the fan mechanism, failure is associated with consecutive creation of small slabs (known as ?domino blocks?) from the intact rock in the rupture tip, driven by a fan-shaped domino structure representing the rupture head. The fan head combines such unique features as extremely low shear resistance, self-sustaining stress intensification, and self-unbalancing conditions. Consequently, the failure process caused by the mechanism is inevitably spontaneous and violent. Physical and mathematical models explain unique and paradoxical features of the mechanism, which can be generated in primary ruptures and segmented faults. The fan mechanism provides a novel point of view for understanding the nature of spontaneous failure processes, including shear rupture rockbursts. The process explains, in particular, features of shear rupture rockbursts such as activation at great depths, generation of new shear ruptures in intact rock mass, nucleation of hypocentres at significant distances from the excavation, shear rupture development at low shear stresses, and abnormal rupture violence.

Jan 1, 2014

By H. Basarir

Due to the environmental constraints and the limitations on blasting, ripping as a ground loosening and breaking method has become more popular in both mining and civil engineering applications. Because of the technological advances in dozer manufacturing techniques, more powerful dozer types are available today. Thus, the ground, previously classified as non-rippable, has become rippable. As a consequence, a more applicable rippability classification system is needed which considers both equipment properties as well as rock properties in all applications. This paper is part of a complementary research work and presents the development of a previously published grading rippability classification system by the application of fuzzy set theory. The integrated rippability classification system considers the combined utilization of the rock and equipment properties, as well as expert opinion. Fuzzy set theory was chosen mainly because it deals well with uncertainty in the choice of variables. Although there are apparent sharp or discontinuous boundaries in existing classification systems, practically most of the factors involved in the ripping process are less well defined and boundaries are more blurred (or fuzzy) or uncertain in nature. Also by means of fuzzy logic it is possible to eliminate bias or subjectivity. The validity of the proposed system was checked by the comparison against existing classification systems and direct ripping production values obtained at studied sites. It is seen that by means of fuzzy logic, the uncertainties are reduced and biased usage of the final ratings that appear in alternative systems are efficiently dealt with. Keywords: Fuzzy set theory, rock rippability, rippability classification system, direct ripping, fuzzy inference system.

Jan 1, 2007