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By Grover R. Castle

INTRODUCTION Banks are being asked to assume more and more of the project risk in connection with project financings and, as a result, they are seeking to become more sophisticated in the way that they approach these kinds of financings. For example, a large number of banks that are active with the mining companies have established mining groups which typically will include mining engineers, economists, and bankers, in order to specialize their service to the mining industry. These banks have geared up these special service staffs so that they will be better equipped in their lending activities to analyze, measure and evaluate the project risk. The hope is that a team of these specialists will be able to predict the potential success or failure of these new "green fields" mining ventures that the banks are asked to finance. This paper shall focus on this subject and try to determine just how successful these specialists can hope to become as they analyze these various projects that are brought to them for financing. The approach that shall be taken in this paper shall be to examine how successful the mining companies themselves have been in the past with this same problem. These mining companies should be the most sophisticated in their approach to the analysis of the potential for success of a new mine because they have had the most experience in evaluating these projects. After all, who knows more about developing a mine than the companies that have developed similar mines in the past? For the purposes of this paper, the writer has selected a sample of 18 mines that have been developed over the years and measured the actual performance of each of these sample ventures against the original projections. All of these cases have involved the development of large projects where the sponsors or partners in the venture are substantial and sophisticated companies and where the feasibility studies have been prepared by engineering firms that are considered very professional in the industry or alternatively where the feasibility has been done by a comparable in-house staff. The sample cases have been chosen from a period which starts in 1965 and continues through 1981 with the cases distributed over that period as indicated below: [ ] Fourteen of the projects are open pit mines, three are underground mines and one mine starts on the surface and gradually goes underground. Seven of the mines are in the the far east with the remaining three in either South or Central America. The following four specific questions were examined for each project:

Jan 1, 1985

By G. W. Nabor, M. Mortada

The effects of anisotropic or directional permeability on the areal sweep efficiency and the flow capacity are examined. The paper points out the importance of taking directional permeability into consideration in planning a flood. It analyzes the two-dimensional flow pattern associated with the skewed line drive for a unit mobility ratio. The direct and staggered line drives are treated as special cases of the skewed line drive. Analytical expressions are developed for the areal sweep efficiency at breakthrough and the flow capacity. They are related to the spacing between like wells, the distance between a row of injectors and the nearest row of producers, and the degree of skewness of the line drive. The latter quantity is defined such that it is equal to zero for the direct line drive and equals one-half for the staggered line drive. The areal sweep efficiency and the flow capacity depend also on the orientation of the flood pattern with respect to the principal axis of anisotropy. The paper provides a simple method for determining the areal sweep efficiency and the flow capacity for a formation in which the permeability in the bedding plane is anisotropic. INTRODUCTION Directional or anisotropic permeability is manifested by the ability of the formation to conduct fluids more readily along certain preferred directions. This situation occurs in many producing formationsl-4 and is usually attributed to depositional features in which the sand grains are oriented in a preferred direction. In some cases it results from the formation of a major and a minor fracture system. 4 Directional permeability should be taken into account in many phases of the production and exploration activities. Recognizing its existence in the formation of interest and planning accordingly can lead to increased recovery and substantial savings. For instance, the areal sweep efficiency in a water flood depends to a great extent on the orientation of the flood pattern with respect to the principal axis of permeability. Anisotropic5 permeability is specified by the directions of its three principal axes and the permeability along each axis. The principal axes of permeability are mutually perpendicular. This paper deals with the areal sweep efficiency at breakthrough and the flow capacity for formations with aniscltropic permeability. The flood pattern considered consists of alternate rows of injecting and producing wells. The rows of wells are parallel and form a developed, skewed line drive which is illustrated in Fig. 1. The staggered and direct line drives are treated as special cases of the skewed line drive. PRELLMINARY CONSIDERATIONS The formations considered in this paper are assumed to be of uniform thickness and porosity. The permeability is uniformly anisotropic, with each principal axis of permeability maintaining

By Kenyon E. Richard, James H. Courtright

SILVER Bell is situated 35 airline miles northwest of Tucson, Ariz., in a small, rugged range rising above the extensive alluvial plains of this desert region. Its geographical relation to other porphyry copper deposits of the Southwest is shown on the inset map in the lower left corner of Fig. 1. The climate is semi-arid. Altitudes range within 2000 and 4000 ft. Opening of the Boot mine, later known as the Mammoth, in 1865 was the first event of note in the district's history. Oxidized copper ores containing minor silver-lead values were mined from replacement deposits in garnetized limestone and treated in local smelters. Copper production had approached 45 million pounds by 1909 when the disseminated copper possibilities in igneous rocks were recognized. Extensive churn drill exploration carried out during the next three years resulted in partial de- lineation of two copper sulphide deposits, the Oxide and El Tiro. Although the then submarginal tenor discouraged exploitation of these disseminated deposits, selective mining of orebodies in the sedimentary rocks continued intermittently until 1930, providing a production total of about 100 million pounds of copper.

Jan 11, 1954

By Clinton L. Miller

MINING operations have been carried on in the immediate area of the Elizabeth mine during periods of high copper prices since 1793, when copperas and vermillion were first won from the outcrop. Present operations started in 1942 as a war baby. Since then production has totaled 1.7 million tons of 1.8 pct Cu ore. Elizabeth mining operations are on a pyrrhotite- chalcopyrite orebody contained in a gently plunging amphibolite syncline. The oreshoot varies in width from 10 to 40 ft, and in the area under consideration is about 150 ft in vertical extent, and more than 1000 ft long. Surface pits or cuts have been worked in three areas along the outcrop, with one pit just completed and a second in full production. Present production is 24,000 tons per month, of which 6000 to 7000 tons is trucked from the open pit.

Jan 11, 1954

By A. Neustaedter

The following method of plumbing a shaft, suggested itself to me as practicable and at the same time more accurate than the methods commonly employed. It consists in obtaining a longer base by suspending the plumblines from the extreme corners, lengthwise of the shaft, and repro-

Jan 1, 1893

By Frank E. Briber

In the years ahead, the industrial minerals producer will face several major challenges. Not only will he have to market increasing quantities of his product economically, but he will have to do so from lower grade deposits that are farther away from the marketplace. At the same time, he will have to comply with more regulations controlling the handling and disposal of waste products and get along with relatively less available labor than he has at present. Accordingly, industrial minerals developments of the next 30 years will be directed primarily toward helping the producer meet these challenges. There will be greater raw materials usage, new processes, new marketing practices affecting plant location, size and complexity, and maximum automation-all aimed at producing more materials at lower cost. Processes To Make the Most of Materials In future processes for industrial minerals, there will be great emphasis on more or total use of the initial raw materials or plant feed stock. This approach will result in the application of more and more concentration methods to the treatment of industrial minerals-both conventional processes and new ones that might be developed in conjunction with pyro-processing. High-intensity and electrostatic separation are certainly two areas which will see greater use in the field.

Jan 6, 1969

By J. H. Johns, G. R. Stephan

The Climax mine has a history of dealing with ground control problems caused by major stress concentrations in the orebody. These stress concentrations, called weight, can arise in a variety of ways. The general effects of depth, rock type, and mining method give rise to weight problems, but local geologic features and daily cave line management can have even greater effects. Over the years a number of techniques have been developed for identifying weight problems in advance and for cow with them. These techniques all help us to amid interrupting the pace of cave advance and minimize the loss of production.

Jan 1, 1984

By R. Roberge, H. Herman

Jan 1, 1969

By C. W. Washburne

Professor Lane makes an interesting contribution to the study of cholride waters, in saying that calcium chloride waters occur not only in the greenstones of Lake Superior copper mines, but also in the interbedded felsitic conglomerated and…

Jan 1, 1915

By D. H. R. Price

This paper presents two tentative models of the use of a notional metal in a country like Britian, which have been developed using the System Dynamics modelling method. Computer simulations have been carried out using one of the models. These show the effect on the recycling of the notional metal of a wide range of possible future values of world market price and demand for the metal.

Jan 1, 1977

By C. E. Shoenfelt

The discovery of oil in the Powder Wash stricture in northwestern Colorado late in the fall of 1936 is the most important development in Colorado since oil was first discovered in the Moffat dome in the same county in 1923. The Powder Wash structure gives promise of developing into an oil and gas field of major proportions and is of particular interest because the oil was found in Tertiary rocks of Eocene age, which heretofore had been productive in the Rocky Mountain region of gas only, and very few of the many structures of this kind have been tested because it was believed that oil production probably would be confined to rocks of Cretaceous age only, and these were, in most instances, at excessive drilling depths. Powder Wash is one of a series of small domes in the belt of folds and faults on the south side of the large but shallow depression known as

Jan 1, 1937

By J. B. Hiskey

Heap leaching has in recent years been established as an important processing alternative for gold and silver. Currently, heap leaching accounts for about 25% of primary mine produced gold and 10% of primary silver. This paper reviews gold and silver heap leaching practice and surveys major operations in the United States.

Jan 1, 1984

By E. O. Wagner, V. F. Parry, J. B. Goodman

C. P. HEINER*—If you take out 35 pct of the total weight of the coal in the form of moisture, would that be about what it was in the case of North Dakota lignites ? V. F. PARRY (authors' reply)—That is about it. C. P. HEINER—That will be about a 35 pct loss and the final product will be about 11,000 Btu? V. F. PARRY—That is right. The heating value of the dried lignite is 10,000 to 11,000 Btu. C. P. HEINER—And the thought is not, then, to produce a commercial coal with that heavy loss, but to make other products—that is, synthetic fuel base, is that it? V. F. PARRY—The principal thought is to upgrade the coal, making it a more favorable raw material for industrial purposes, both for shipment and direct use. You see, the trouble in these lignites is that their moisture penalizes their

Jan 1, 1950

The suggestions of the members of the Institute are very much desired by the Committee on Nominations prior to deciding upon its nominations to fill the places of those officers who retire early in 1917. The Committee must make its final report to the Board of Directors early in October. The members are, therefore, asked to send in promptly their suggestions for Directors as well as for Vice-Presidents and President. The Committee hopes to hear from a large number of the members. The officers to be elected at the annual meeting in February, 1917, are: One officer, known as Director and President. Two officers, known as Director and Vice-President. Five officers, known as Director. The attention of members is called to Articles V and VII of the Constitution, and to By-Law XIII, which reads as follows: "The geographical districts to be considered by the Committee on Nominations shall be as follows, until otherwise ordered by the Board. District No. 1. New England, New York, and-New Jersey, excepting New York City and district, which is provided for in the Constitution. (N. B.-New York City and district is designated District 0.)

Jan 7, 1916

By Alfred F. Brainerd

A few months since, Prof. Lawrence C. Johnson, of the U. 8. Survey, discovered in Mississippi large deposits of carbonate iron-ore, geologically located in the Claiborne formation of the Tertiary Epoch. These deposits are not pockets, but continuous layers or beds extending for miles, and can be located with certainty where they have not been removed by erosion. Upon examination, recently made by G. W. West, Birmingham, Ala., the largest deposits and highest grades of ore were found near Enterprise, Lauderdale county, and in Clark county, Miss. These beds measure from 10 to 18 feet in thickness, are superimposed upon a " burr rock," associated with green sand, and dip 30 feet to the mile southeast, at an altitude of 350 feet above sea-level, can be

Jan 1, 1888

By Ross W. Smith, Mine-Yun Hwang

Many studies have been made of the microflotation of quartz (de Bruyn, 1955; Fuerstenau, 1957; Somasundaran, 1964; Smith, 1973; Fuerstenau, 1976; and Smith and Akhtar, 1976) and alumina (Somasundaran, 1964; Smith and Akhtar, 1976; Fuerstenau and Palmer, 1976; Fuerstenau and Akhtar, 1976; Fuerstenau and Yamada, 1963; Modi and Fuerstenau, 1960) using various anionic and cationic heteropolar hydrocarbon surfactants as collectors. A few studies have been made on these materials using amphoteric hydrocarbon collectors (Wrobel 1969 and 1970; Smith. Haddenham, and Schroeder, 1973; Gupta and Smith, 1975) and only a few studies have been made on the use of fluorocarbon surfactants as flotation collectors Cooke and Talbot, 1955; Somasundaran and Kulkami, 1973). The present investigation compares microflotation response of the two minerals in hydrocarbon and fluorocarbon collector systems of the anionic, cationic, and amphoteric types. An attempt is made to relate flotation response of the minerals to their electrokinetic behavior and the pKa values of the collectors.

Jan 1, 1981

By F. Rosenblum, P. Spira, F. Kitzinger

The possibility of increasing the efficiency of mineral processing plants by means of computer control has prompted metallurgists to examine their flowsheets more critically in order to develop practical control strategies. Control schemes in use to date generally rely on the automation of traditional and previously manually regulated control loops, e.g., the addition of reagents to maintain a constant assay or a constant pH. This approach is predicated on the availability of well established primary sensors such as pH electrodes or on-stream analyzers. Noranda Research Center, in cooperation with Noranda Group concentrators, has developed a froth level monitor and a pulp density meter adaptable to this type of control. Although some of the basic principles on which they are based have been known for some time, their incorporation into the design of reliable, direct-reading instruments which can be interfaced with a computer is believed to be novel.

Jan 1, 1980

In their presentations Dr. Puddington and Dr. Stratton-Crawley have concentrated on spherical agglomeration and two-liquid extraction respectively. I should like here to complete the picture by putting these two techniques together in context with other techniques in which non-polar oils are used in the concentration and separation of minerals. Although these techniques are invariably treated separately and have been studied in isolation, there is a lot to be said for considering them together and trying to systematize their similarities and differences. This I take as a principle guideline in my introduction to this discussion. Four processes can be distinguished on the basis of the dosage of oil required: --simple flotation with collector-extender --agglomeration (emulsion) flotation --spherical agglomeration --two-liquid separation Dr. Stratton-Crawley has suggested that "pigment flushing" could find application in the treatment of ores. This is an interesting suggestion. However, the process can be regarded as a variant of two-liquid extraction, and it is convenient for me to do so in this discussion. Table 1 sets out some main features of these techniques. The first, in which the oil is used to enhance the strength and reduce the dosage of the collector is not designed for and has no special advantages in the treatment of fines, and therefore will not be further treated here. To add to the details appearing in the Table, thumbnail sketches of the other three, which all do show particular efficacy in the treatment of fine particles, are given below.

Jan 1, 1979

By E. Swartzman

THE free-swelling index, a numerical value for the free-swelling properties of coal, is being used to an increasing extent in specifying coal for burning in various types of equipment. The empirical standard ASTM method for determining this index uses, as a source of heat, a gas burner which requires frequent calibration because gas pressures are not constant, relatively small changes in gas pressure resulting in rather wide variations in the temperature attained in a crucible and thus in the resultant size of the coke button. Furthermore, the quartz crucibles specified for the test are not standard equipment, and relatively small variations in dimension and wall thickness from those specified often result in rather wide variations in the resultant size of the button.

Jan 10, 1951

By John D. Clark

ONE'S lifetime does not usually offer the opportunity to observe and be a part of the commercial development of an entirely new material. Petalite has been known for over a century, but at first it was presumed rare. However, it was found to be so abundant that it has become a new and extremely useful industrial tool.

Jan 10, 1950