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By Howard M. Wells

Portfolio theory and the Capital Asset Pricing Model (Modigliani and Pogue, 1974) provides an investment decision rationale which takes account of the benefits of diversification in reducing effective risk, but this theory does not consider the financial capability of the firm to survive large losses if they should occur. The LL-curve theory (Wells, 1976) takes the latter consideration into account, but it does not provide for the effects of diversification. This paper pro- poses a general theory to account for both diversification and the financial capacity of the firm to underwrite the investment risks.

Jan 1, 1983

By Betty Gibbs

The Ore Body Modeling and Mine Planning Worshop, sponsored by the Society for Mining, Metallurgy, and Exploration, Inc. (SME), was held Feb. 22-24, 1991 before the SME Annual Meeting and Exhibit in Denver, CO. More than 40 people from mining companies, government agencies and universities attended. Eight vendors of integrated ore body modeling and mine planning software attended and presented the results of problem sets given before and during the workshop. They were: [ ]

Jan 1, 1991

By Bruce D. Hansen

For many years, Newmont has focused on improving its operations. After the merger between Newmont and Santa Fe Pacific Gold, Newmont created synergies of more than $50 million a year in Nevada. This was done primarily through optimal ore movements and consolidation of various functions. During the current period of low gold and copper prices, Newmont has refocused its efforts on efficient operations worldwide. At its mine facilities in Nevada, Newmont has used a combination of several strategies to decrease the costs of operations and to increase profitability. These include computer technology, optimal use of infrastructures, procurement strategies, functional consolidation, enhanced mine planning and several available metallurgical processing options.

Jan 1, 1999

By William R. Yernberg

Santa Fe Pacific Gold, headquartered in Albuquerque, NM is expanding its operation at the Twin Creeks Mine in Nevada. The $250-million sulfide expansion project, including the Sage Mill, is under construction and is 80% complete. Also, additional mining equipment has been purchased to haul the sulfide ore to the mill. With the expansion, employment at Twin Creeks is expected to reach approximately 970 people by the end of 1996. Santa Fe Pacific Gold now owns and operates three gold mines in the United States and is involved in several other gold projects. The three currently operating mines are the Twin Creeks, Mesquite and Lone Tree mines. The Mesquite Mine is located in California’s Imperial Valley. Lone Tree is located 55 km (34 miles) southeast of Winnemucca, NV. The company’s total gold production from these operations is expected to be in the range of 26.3 to 26.6 t (845,000 to 855,000 oz) in 1996. This compares to a total production of about 124 kg (4,000 oz) for the company in 1989. Production costs range from $6.90to $7.25/g ($215 to $225/oz). At the end of 1995, the company reported proven and probable reserves of 556.7 t(17.9 million oz) of gold.

Jan 1, 1996

By Howard S. Avery

The wear resistance of an alloy in heavy mill liner sections may be quite different from that of the same alloy in small balls and other light sections. This fact was established by means of a well standardized laboratory test that was validated for ball mill service. The salient properties of mill liner alloys, including austenitic manganese steels, medium alloy hardenable steels, and abrasion resistance cast irons are described, critically compared, and quantitatively ranked in terms of mill liner service. Where they are tough enough the high-chromium and other martensitic cast irons (e.g. Ni-Hard) promise maximum economy, but their section sensitivity is a limitation. To overcome this an extensive research program studied over a hundred experimental alloys, ranking them for heavy section abrasion resistance by means of the laboratory test. Computer analysis of the results provided a parabolic formula in terms of composition, the apexes of the parabolas providing optimum wear resistance. From the extensive family of parabolas one apex was selected for intensive study in experimental liners, pilot plant production, development of quality controls, and finally full scale production. This is a 19% chromium iron critically alloyed with nickel and molybdenum and hardened by heat treatment. It has excellent resistance to various types of abrasion, but its chief advantage is in heavy mill liner sections, where it has about 25% better abrasion resistance than the best of the quality controlled chilled Ni-Hards. It is also tougher. After production problems were solved, a number of ball and rod mill tests were arranged on a guaranteed performance basis. Two of these, representing about 138,000 pounds of mill liner castings, have recently confirmed in service the superiority that was predicted by the laboratory tests.

Jan 1, 1969

By T. Seal

Hydro-Jex© releaching was undertaken during the summer of 2010 at the Valley Leach Facility (VLF) at AngloGold Ashanti?s Cripple Creek & Victor Gold Mine. Several advancements to the technique were made in response to the technical design and operational challenges posed by the unique site conditions. New geophysical resistivity monitoring techniques were developed to monitor solution migration during the injections. These developments are presented along with discussion of gold production resulting from the project.

Jan 1, 2011

One of the biggest challenges for the mining industry is, quite literally, how to the keep the equipment rolling. There is a limited amount of companies that manufacture the 4.2-m- (14-ft-) tall, 5,670-kg (12,500-lb-) tires needed for the haul trucks that are approaching the 362 t (400 st) pay-load class, such as Terex?s MT6300-AC and Caterpillar?s 797F. And, while these might be the most impressive tires, they are not the only ones that are in short supply. The shortage of tires has affected just about every kind of machine, and the demand for those tires has been extremely high for more than five years with no end to the shortage in site. American Tire Corp. (www.americantire.us) is one of the companies working to supply tires to the mining industry. It announced that the demand for its 1.6-m (63-in.) tires that have a zero failure history globally is great and that the company signed contracts worth more than $500 million at MinExpo. A relatively new player in the field of large tires for mining equipment is Titan Tire Corp., (www.titan-intl.com), a subsidiary of Titan International Inc. It shipped its first 1.6 m (63 in.) off-the-

Jan 1, 2008

By Xiaodong Yu, Jinxia Zhang, Fusheng Niu, Hongmei Zhang

The three-dimensional (3D) fractal dimension is an important parameter to analyze the 3D structure and flocculation effect of the hematite flocs. In this work, the 3D fractal dimension of hematite flocs was predicted by establishing the particle swarm optimization (PSO) algorithm optimized with the back propagation (BP) neural network (PSO-BP). The proposed model considers four factors, namely, the flocculant quantity, flocculation time, stirring speed, and temperature, as the input parameters. We normalize the input data during the preprocessing stage. The BP neural network was optimized by using the PSO algorithm for realizing the 3D fractal dimension. The prediction accuracy and effectiveness of the model were evaluated. The experimental results showed that the predictions performed by the proposed PSO-BP neural network were better than that of BP neural network. In addition, the root mean square error (RMSE), mean squared relative error (MSRE), mean absolute error (MAE), and mean absolute relative error (MARE) of the proposed model are lower, compared with the errors of the BP network. Similarly, the measurement coefficient R2 of the proposed model is higher, compared with the BP network. The maximum absolute error of the model is 0.0772, the maximum relative error is 0.02405, and the regression coefficient r is 0.98592. These results showed that the proposed model has a good performance and high prediction accuracy. When verifying the practicability and the effectiveness of the proposed PSO-BP model, the prediction results of 10 groups of hematite flocculation experimental data under different conditions showed that the prediction value of the proposed PSO-BP model was closer to the ground truth as compared to the BP model. Therefore, the proposed model is suitable for predicting the 3D fractal dimension of hematite flocculation.

Oct 3, 2022

By Brian Fulcher

In April 1997, Kiewit/Parsons Brinckerhoff (K/PB) completed the 7,600-m (25,000-ft) primary access tunnel for the Yucca Mountain, NV proposed high-level nuclear waste site. K/PB then began boring an exploratory east-west cross drift tunnel at the site. The 2,681-m (8,796-linear ft)East-West Cross Drift Tunnel was excavated through volcanic tuffs having zones of incompetent rock using a rebuilt Robbins 5-m (16.4-ft)hard-rock tunnel boring machine(TBM) with a special arrangement of supporting equipment. This portion of the Yucca Mountain project was completed in eight months.

Jan 1, 2000

By Brianna M. Eiter, Jennica L. Bellanca

Mineworkers face a challenging and dynamic work environment every workday. To maintain a safe workplace, mineworkers must be able to recognize worksite hazards while they perform their jobs. Though hazard recognition is a critical skill, recent research from the National Institute for Occupational Safety and Health (NIOSH) indicates that mineworkers fail to identify a significant number of hazards. To further the understanding of mineworkers’ hazard recognition ability and to begin to address hazard recognition performance, NIOSH researchers analyzed data collected during a laboratory research study to determine the effect of individual mineworker factors including risk attitude, work experience, and safety training on hazard recognition accuracy. The results of this study show that mineworker risk attitude and safety-specific work experience affect hazard recognition performance while hazard-specific safety training does not. These results suggest that some of these individual factors can be overcome through experience and training. Potential strategies that can be used to address these factors are also discussed.

Aug 31, 2020

By Antonio Rivera

On Nov. 13, 1985, Colombia's Ruiz volcano erupted, killing an estimated 25,000 people and burying several villages. Damages were estimated to be about $US300 million. The following is an account by SME member Antonio Rivera of the volcanic activity that led to the eruption. His account also includes a description of the geography and some geology of the affected area. Mining operations in the area were mostly unaffected, although some operations were forced to close until the roads leading to them could be repaired. Introduction The Ruiz volcano is located on the Central Cordillera of Colombia about 28 km (17 miles) southeast of Manizales, the capital of the state of Caldas. Ruiz is one of nine volcanoes that form a complex volcanic chain within the middle portion of the Central Cordillera. The Cordillera has 30 other volcanoes in the southern part of Colombia. Ruiz volcano Ruiz's elevation is 5200 m (17,060 ft). It is covered by an ice cap estimated to be 20 m (66 ft) thick at its summit, an area that covers 17 km2 (6.5 sq miles). Drainage is composed of several rivers that flow into the Magdalena River on the east and Cauca River on the west. The rivers flowing to the east are Guali, Azufrado, Lagunillas, and Recio. The rivers that flow to the west are Claro, Molinos, and Chinchina. There is a road from Manizales to El Refugio, a ski area located on the northeast flank of the volcano at 4800 m (15,750 ft) in elevation. The Ruiz volcanic complex was built in two stages. The first is a shield type of volcano (mainly lavas) formed about a million years ago. The second is a younger stratovolcano overlaying the ancient one. It consists of lavas and pyroclastics and was built over the past 500,000 years. Twenty-four eruptions of Ruiz are known to have occurred during the last 14,000 years. Its products mainly consist of lava flows, pyroclastic flows, mudflows (lahars), and directed lateral explosions. Historic eruptive record 1595 - Debris avalanche, blast, pyroclastic flows, mudflows, ash flows, and ash fall. 1828-1829 - Ashes (phreatic). 1831-1833 - Gas emissions and ashes. 1845 - Mudflows and pyroclastic flows. 1985 - Sept. 11- Fumarolic activity, phreatic eruption, ash fall, and small mudflows. 1985 - Nov. 13 - Ash and pyroclastic fall, major destructive mudflows (magmato-phreatic eruption). From 1845 through 1984, Ruiz volcano always had a slight fumarolic activity. It was restricted to the crater area. In November and December 1984, the fumarolic activity increased and the first ash emission and vapor-sulfur formation started. Small local earthquakes accompanied these volcanic activities. The volcano had a small erup¬tion on Sept. 11, 1985. It was manifested by phreatic explosions that ejected fragments of the vent and formed ash deposits 25 mm (1 in.) thick around an area 2.5 km (1.5 miles) from the crater. Fine material was blown by the wind and reached Manizales and neighboring areas, producing a small layer of ash up to 10 mm (0.4 in.) thick.

Jan 2, 1986

By Debbie Laney

DOUG HALBE: Second in our quick run-through on "Operating Ideas That Have Saved Me Some Bucks," was Debbie Laney of Rayrock Mines. Debbie apologizes. She can't be here. But she said, "Doug, don't worry. I've asked Mary Korpi to present the paper. We're both short, blond, and wear glasses. Nobody will know." [laughter] Mary, I caught it right away. You ladies can't fool us. Debbie, who wrote the paper, has spent almost her entire career in operations. She is currently metallurgical manager of Rayrock Mines in Valmy, Nevada. Mary Korpi is also a real operator (that doesn't sound right). She has been responsible for a number of operating areas at Newmont's Nevada operations, and she is currently taking a break from operations as manager of public relations/employee communications for Newmont Gold in Carlin. MARY KORPI: They told us this year at Newmont that we were going to have to work twice as hard. I had no idea it meant I would have to work for another company, too. Over the years, and many times in association with work for mid- to small-size mining companies, there have been two areas that seem to have been the focus of cost savings when looking at new facilities or new processes.

Jan 1, 1998

By Bradley V. Johnson, Robert J. Timko, Edward D. Thimons

Water-jet-assisted cutting involves the use of a mechanical cutting bit in combination with a high-pressure water jet directed just in front of the bit tip. Such a jet can offer benefits in terms of improved cutting, reduced dust and fines, and improved bit wear. The Bureau of Mines, through a contract with the British National Coal Board, has researched the use of water-jet-assisted cutting on roadheaders. After several engineering design problems were overcome, this program led to the successful underground testing of these roadheaders. Today, more than 60 water-jet-assisted roadheaders are in operation around the world and numerous others are on order. This paper details the evolution of these machines and the benefits to be gained by their use.

Jan 1, 1987

By J. Walden, S. Rhoades, R. E. Miller, R. Gibbs, P. Boman

Accelerometers and pressure transducers mounted in suspension components can be used to monitor the ride of haulage trucks. Presently, it is difficult to tell what caused a jolt to the truck using either pressure or acceleration data alone. When information from a Global Positioning System is recorded at the same time as shock pressures or acceleration data, then the exact location of an event can be determined. Mine management can then determine what caused the jolt to the truck.

Jan 1, 1999

By Ludger Suarez-Burgoa

At the Porce III Underground Powerhouse Complex in Colombia, the observational method (Peck, 1969), was used to provide information to an underground wedge and a 2D Finite Element Method numerical models, both used to estimate the mechanical behavior of the hoisting rock mass. The observation process consisted in collecting fault events in the field and in interpreting Multiple Point Borehole Extensometers and Surface Convergence Displacement Points readings. The calibrated models were employed to predict the behavior of the pillars formed between the machine and transformer caverns. The observational method is an important activity during excavation of large openings and provides arguments to understand the rock mass mechanical behavior.

Jan 1, 2008

By Mei Long, Tawum Juvert Mbah, Jianhua Zhang, Haiwang Ye

There have been many improvements and advancements in the application of neural networks in the mining industry. In this study, two advanced deep learning neural networks called recurrent neural network (RNN) and autoregressive integrated moving average (ARIMA) were implemented in the simulation and prediction of limestone price variation. The RNN uses long shortterm memory layers (LSTM), dropout regularization, activation functions, mean square error (MSE), and the Adam optimizer to simulate the predictions. The LSTM stores previous data over time and uses it in simulating future prices based on defined parameters and algorithms. The ARIMA model is a statistical method that captures different time series based on the level, trend, and seasonality of the data. The auto ARIMA function searches for the best parameters that fit the model. Different layers and parameters are added to the model to simulate the price prediction. The performance of both network models is remarkable in terms of trend variability and factors affecting limestone price. The ARIMA model has an accuracy of 95.7% while RNN has an accuracy of 91.8%. This shows that the ARIMA model outperforms the RNN model. In addition, the time required to train the ARIMA is than that of the RNN. Predicting limestone prices may help both investors and industries in making economical and technical decisions, for example, when to invest, buy, sell, increase, and decrease production.

Jan 6, 2021

By Ali Behrad Vakylabad, Esmaeel Darezereshki, Babak Koohestani

As a by-product of the steelmaking industry rich in iron and zinc, electric arc furnace dust (EAFD) landfill disposal is restricted in many countries due to the metal lixiviation risks. Several approaches have been examined to recycle or reuse EAFD. Hydrometallurgical methods mainly include the preparation of pregnant acid leached solution (PLS) using inorganic acids followed by selective metal recovery using different methods. We herein proposed a hydrometallurgical process initiated by acid leaching and finalized by thermal treatment to produce nano-ZnO from EAFD. At the condition of this study, only 67% of zinc was leached by sulfuric acid from EAFD into PLS while 98% of surplus leached iron was removed through precipitation by sodium hydroxide. Additional purification of iron removed PLS was accomplished using di-2 ethylhexyl phosphoric acid to extract Zn+2. The addition of ammonium hydroxide to purified PLS provided (Zn(OH)2)3(ZnSO4)(H2O)5 as the final precursor for nano-ZnO that ultimately transformed to nano-ZnO (60 ± 6 nm particle size) at 850 °C. The achieved results were scrutinized through various tests and analyses including TEM, XRD, SEM, EDS, FTIR, and TGA.

Mar 10, 2021

By William C. Cooley

SUMMARY A review is presented of the state of development of high pressure water jet equipment and of large impact hammers for rock tunneling. Information from the U.S.S.R. is based on published literature and three personal visits. Applicable papers which were presented at the International Symposium on Jet Cutting Technology in Coventry, England in April 1972 are reviewed. Data are presented on continuous jet systems, pulsed water cannons, and hydraulic-powered impact hammers with respect to the specific energy of rock breakage and potential application in tunneling machines. INTRODUCTION It has been estimated that the cost of underground excavation during the period 1970-1979 in 15 countries of the Organization for Economic Cooperation and Development will be over $54 billion, an increase of 104% over the period 1960-1969. It is expected that 55% of the tunneling construction will occur in hard rock (Ref. 1). Present tunneling machines are generally limited to soft and medium-hard rock. When used in hard rock, the cost of replacing mechanical cutter bits is high. Therefore there is a need for improved rock fracture methods which can be applied economically in tunneling machines for hard rock. Water jets and mechanical hammers are two

Jan 1, 1997

By L Baumgardner, A. V. Castelli

Barite In 1987, United States mine production of barite increased 15.870, consumption (sold or used by grinding plants) increased by 6.97, and imports are estimated to have fallen by 19.57. World mine production decreased by 137, according to the US Bureau of Mines. The value of US produced barite, fob mine, decreased 1.4%, according to the Bureau. The declared value for cif US port of all imported unground barite during the first 10 months of 1987 decreased from $39.02/t ($35.40 per st) to $37.16/t ($33.71 per st), the Bureau stated. Nevada continued to be the leading US producer of' barite with 637r of the total. It is followed by Georgia, Missouri, California, Tennessee, and Montana. The Bureau of Mines estimates 657 of the US mine production was used as a weighting agent in drilling fluids. The remaining 35°/r was used in barium chemicals, glass or as a filler. Most of the production from Missouri, Georgia, and Tennessee was used in the non-oilfield sector. This sector continued to increase. Of the total consumption (used by grinding plants and chemical manufacturers), it is estimated that 8070 was used in drilling fluids and 2017( in the non-oilfield sector - barium chemicals and fillers in paper, plastics, and glass. The tonnage consumed in the drilling fluids market increased slightly. But the average number of rotary rigs operating decreased from 964 in 1986 to 936 in 1987. This is the lowest number of operating rigs reported since 1949. The increase in consumption in this sector is due to an increase of rigs operating in the US Gulf and other higher consumption areas over 1986. Crude barite imports were estimated to be down by 19.5% in 1987. Still, they accounted for 637 of the barite consumed in the US. During the first 10 months, China continued to be the leading exporter to the US with 86.970, followed by Mexico with 10.997, and Morocco 2.107(. About 5Y of the imported ore was used in the nonoilfield sector. Ground barite imports dropped from 19.8 kt to 8.8 kt (21,800 st to 9800 st) in 1987. Of this amount, 1.4 kt (1598 st) was used in drilling muds and the remainder of the non-oilfield use. During 1987, a few more grinding plants that supplied the drilling fluid market were closed. Along the US Gulf Coast, there are 13 operating plants versus a high of 31 in 1981. Cameron Offshore reopened its grinding plant at Cameron, LA. New Riverside Ochre Co. of Cartersville, GA, purchased a jigging-washing plant in Missouri and plans to place it in operation this year on a new deposit near Cartersville, GA. Milpark purchased Hughes Drilling Fluid in 1987 and operates under Milpark. US mine production will probably stay about the same as 1987. Price increases in the 10 % range for imported ore are expected due to water freight and the weak dollar. Baker Hughes estimates the average number of operating rotary rigs at 1070. A slight increase is expected in the non-drilling fluid market (chemicals, glass, and filler). Bauxite and alumina L. Baumgardner, US Bureau of Mines Domestic bauxite production in 1987, expressed as dried equivalent, was 581 kt (640,400 st), a 14% increase over 1986. US mine production amounted to less than 170 of total world production. Virtually none of the domestic bauxite was consumed in the production of primary alumina metal. About 30% of the bauxite produced by US mines was calcined to produce 117 kt (128,970 st) for use in abrasives, catalysts, chemicals, proppants, and refractories. Most of the uncalcined bauxite was refined to specialty aluminum oxide (alumina) forms. Metallurgical grade bauxite was imported from 10 countries in 1987. Principal suppliers of the 9.8 Mt (10.8 million st) were Guinea (4270), Jamaica (3501,), Australia (127), and Brazil (57). The average value, delivered U.S. ports, cif, as reported to US Customs Service, was $29.50/t ($26.76 per st). Calcined refractory grade baux-

Jan 6, 1988

By Randy Vranes

Sophisticated information technology, quality management systems and a commitment to the environment has allowed Solutia’s Soda Springs phosphate mine and elemental phosphorus plant to reduce operating costs, improve product quality and contribute to the sustainable development of Idaho’s industrial minerals. Soda Springs background The Soda Springs phosphate mine and plant is a joint venture between Monsanto and its operating partner, Solutia Inc. The operation is based in southeastern Idaho in the Western Phosphate Field. The plant is located about 275 km (170 miles) northeast of Salt Lake City, UT and about 4 km (2.5 miles) north of the town of Soda Springs.

Jan 1, 1999