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By V. T. McLemore

The mining industry is at a crossroad. To sustain our technically based society, demands for commodities are increasing, and exploration for these commodities is a must. The debate is between sustainable development and the status quo and begins with exploration, where it is determined if a mineralized area contains enough potential ore to be mined economically. Mineral deposits are relatively rare and depend upon certain natural geologic conditions to form and may not always occur in locations that are most suitable to society. Exploration can be compatible with environmental protection and social responsibility, but difficult challenges face the industry to develop a property that is environmentally, economically, and socially responsible.

Jan 1, 2004

By A. House

Newmont Mining Corporation owns and operates the Phoenix Mine near Battle Mountain, Nevada, USA. The existing milling facility has operated since 2006. Following the startup of the milling operation, and coupled with the upswing in the copper market, Newmont realized that Phoenix needed a process option to treat lowgrade transition and oxide copper ores. This meant that potentially revenue generating ore was being mined as waste. With no system in place to treat the transition and oxide copper, work began to determine the most feasible approach. After evaluating multiple options, the flow sheet was set for a run-of-mine (ROM) heap leach pad and solvent extraction/electrowinning plant (L-SX/EW). This paper will discuss the synergies and challenges of developing a copper L-SX/EW plant at the Phoenix copper-gold mill.

Jan 1, 2010

By E. V. Redin

"The Bakal (South Ural, Russia) deposit of iron ore bearing iron carbonate (siderite) with the capacity of more than 1 billion tones belongs to the MMK. This ore cannot be fully processed via blast furnace technology because of high content of MgO. According to the investigations carried out in the USA and Japan in 1999-2004 the ITmk3 (Ironmaking Technology mark three) RHF technology is a breakthrough in Ironmaking. Four iron ore types (hematite, magnetite, high and low Al2O3/SiO2) were tested. Reduction, melting and slag removal can be achieved in just 10 min. The main objective of the investigation is to establish optimum operation conditions for the production of iron nuggets from iron carbonate bearing ore via the ITmk3 by means of the lab scale testing. Green pellets were processed via a lab tube (chamber) furnace to simulate RHF conditions. This preliminary test work provides valuable information which may be used for large-scale testing in a commercially sized RHF.IntroductionThe ITmk3 process upon which this paper focuses was developed by Kobe Steel in its research facilities in 1996 [1]. After pilot testing at Kobe Steel’s Kakogava Works in 1999-2004 the pilot demonstration plant was built and operations were successfully carried out by Mesabi Nugget joint venture in 2002-2004. Steel Dynamics has committed to building the commercial plant at the Mesabi Nugget site in Hoyt Lakes (Minnesota). Only 4 iron ore types (hematite, magnetite, high Al2O3/SiO2 and low Al2O3/SiO2), as well as 4 coal types with range of volatility, ash and fixed carbon were tested. Results were consistent with nugget characteristics confirming ITmk3’s flexibility with respect to raw material inputs. At the same time, no research in the field of nugget from iron carbonate bearing ore with high content of MgO has been done. Such kind of iron ore is restricted for charging into the blast furnace due to contamination of MgO. The reason for restriction is the limitation of load of MgO in the blast furnace. If a lot of MgO enters the blast furnace, slag becomes viscous. The viscous slag is obstacle for stable operation of the blast furnace."

Jan 1, 2012

By Gabriel R. Royo

This paper will cover a back up roll bearing technological upgrade, being implemented at the TERNIUM SIDERAR Hot Strip Mill (HSM), in San Nicolas, Buenos Aires, Argentina. This change was motivated by increased operating loads, which caused the original bearings to be outside the designed bearing rating. The problems were first identified by bearing seizures in some stands, and later followed by cracks forming in the back up roll neck areas due to fatigue and overload. MORGOIL engineers worked together with TERNIUM SIDERAR engineers in analysing the problem and to upgrade the mill with the newest and most economical technology. The upgrade consisted of changing the bearings to the latest generation MORGOIL bearing: the KLX, which within the same space, increases bearing capacity around 25%. This was accomplished re-utilizing all chocks. The new bearing allowed for a re-design of the geometry of the back up roll neck, making it much stiffer than the original design, and eliminating fatigue failures. In addition, an upgrade to hydraulic mounting and dismounting using the MORGOIL® HB lock was also implemented, as well as changing to the newest MORGOIL® HD seals. With the MORGOIL® KLX® upgrade, TERNIUM SIDERAR HSM increased load capacity, allowing them to roll products that were not even considered decades ago. Both older oil film bearings and roller bearing mills have been successfully upgraded while reusing existing chocks and in many cases rolls. Solutions are customized to the customer’s equipment and goals.

Oct 30, 2017

The Southern Mines Rescue Station (S.M.R.S.) has been established for 55 years and in the past 15 years has had only 4 major call-outs. Whilst the mines rescue training program has continued to expand, the Station has become involved in other work which includes mine worker training and limited research. Notwithstanding, the prime role of the Mines Rescue Station has not been overlooked and the Station has only advanced with the many changes that have occurred in the coal industry. The Rescue Station activities are financed by contributions from Colliery proprietors and the aim of the S.M.R.S. Committee is to provide a service in which colliery management and mine workers will have a high degree of confidence.

Jan 1, 1981

By R. W. METCALF, A. G. Charles, F. M. SHORE

To furnish the information frequently requested by producers and suppliers as to the fuel requirements of the Federal Government , the Bureau of Mines , with the cooperation of the consuming departments and establishments , has collected the data herein , showing the Government's fuel consumption during the fiscal year ended June 30 , 1930. The following tables show the quantities and kinds of fuels consumed by the Federal Government in each of its departments and their principal branches , in each State , and in Alaska , Hawaii , Panama Canal Zone , Porto Rico , and the Virgin Islands . The separate departments and establishments were asked to supply information for each Federal building or other plant and , as to vessel fuel , the amount loaded at each port of supply . Fuels consumed in internal combustion engines are not included . The report does not include fuels used by Post Offices of the fourth class , since their fuels are not purchased by the Federal Government but are covered by an allowance in each case for light and heat . In some cases the data supplied represent receipts , which are approximately equivalent to consumption . The present study is believed to be the first effort to bring together the data representing the Government's requirements for the various fuels which it consumes . Figures showing the coal consumed by the Federal Government were gathered for the year 1922. These data are shown in an article by O. P. Hood and R. H. Kudlich of the Bureau of Mines , contributed as a chapter to " Industrial Coal ; Purchase , Delivery and Storage , " published by the American Engineering Council . The figures of coal consumption presented herewith are approximately comparable with those published for 1922 , a relatively small difference being due to the fact that the 1922 figures include the Philippine Islands and all other territory in which any coal was consumed by the Government . At the present time , the only data on Government fuel consumption that are published regularly are those compiled by E. B. Swanson , chief economist of the petroleum economics division of the Bureau of Mines . These are published annually by the Bureau of Mines in " Sources and Distribution of Major Petroleum Products , Atlantic Coast States , " and by the bureau in cooperation with the American Petroleum Institute in the annual " National Survey of Fuel Oil Distribution . " It is believed that the data herewith will prove of interest and value to the fuel industries as well as to Government consumers and that it will also afford a basis for measuring future trends in the use of the various fuels by the Federal Government . Figures showing the quantities of the various kinds of fuels consumed by each of the executive departments and independent establishments , are given in Table 1. It should be noted that when one organization procures and delivers fuel to be consumed by other branches

Apr 1, 1932

By Allen D. Graham

The coal industry in South Africa is briefly outlined. Test- work carried out on bulk samples of coal in the laboratory and used in the design of the Van Dyks Drift washery are described. Factors affecting the selection of equipment and the designed capacity of the plant are discussed. A description of the crushing plant, washery and load out section is given together with performance data obtained in the final acceptance tests. New features incorporated in the Van Dyks Drift plant and in more recent plants of the Group are outlined.

Jan 1, 1982

By Howard L. Hartman

Introduction The federal government's declining role in funding research has created a critical dollar gap for university departments of mining engineering. Industry, too, is affected by the drought. Research is lagging. Hardpressed universities are going to the private sector for funding. Mining companies should not shower universities with philanthropy, but a research partnership should be contracted on a pay-as-you-go basis. A model exists at The University of Alabama (albeit not in mining) that could be adopted by the mining industry. An equal partnership arrangement between a university and an industry for conducting research is proposed. The concept is not that a corporation sponsors and a university performs the research. Nor does it call for educational contributions or giveaways from industry. Rather, the corporation and the educational institution enter into a cooperative research endeavor, a full and equal partnership. Both parties contribute and both share the benefits. A key to the relationship is that it has a single objective: it must generate profits or reduce costs for the company. Working Model Recent literature is replete with examples of proposals for joint research endeavors, involving both contracts and grants, between industry and universities (Bronwell, 1971; Bugliarello, 1978; Branscomb, 1981; Sanford and Holland, 1982). They are all good proposals and offer something to both parties. They are, however, not widely supported. Few have received a favorable nod from the US mining industry. Though it may be logical, for example, to remake the American Mining Congress (or some new consortium) in the mold of umbrella-type industry organizations to fund cooperative research with mining institutions, such proposals have never flown. What model, then, will work? First, look for a model that has worked in industry in general. Second, seek to apply it to mining specifically. There is a model project that satisfies the first of those criteria. It is a project complicated by a third party, in addition to a corporation and a university. In January 1983, the "Factory of the Future Project" was initiated between The University of Alabama (UA) and General Motors Corp. (GM). The United Auto Workers (UAW) is a third party to the agreement. The factory was GM's Rochester Products Division manufacturing plant in Tuscaloosa, AL, also home of UA's main campus (Fig. 1). Saving a Plant The agreement came about at the initiative of GM and the UAW. Faced with having to close the plant because of excessive production costs, company and union officials proposed to the university that an applied research facility be established at the plant. The university would operate the laboratory, dedicated to $470,000 a year cost reductions for the company. The school would lease the 5.1 km2 (55,000 sq ft) space for $470,000 a year for three years. Any savings effected by the university's research effort would be credited toward to the rent. GM said the small factory, which made replacement carburetors

Jan 9, 1984

By Sayonara Soares de Freitas Carneiror

A extração de alumina por digestão ocorre em meio reacional entre a pasta de bauxita e licor cáustico aquecido. Este aquecimento ocorre em uma série de trocadores de calor, que utilizam vapor saturado produzido em caldeiras de gás natural. Aproximadamente vinte minutos após a passagem pelos trocadores, o licor alimenta o reator e a mistura entre este fluido quente e a pasta fria deve atingir uma temperatura pré-definida de digestão. O controlador tradicional não era capaz de integrar o circuito entre os produtores e consumidores de vapor, por causa do deadtime do processo que gera a necessidade de um modelo robusto para ser acoplado à lógica de PID, mais a questão da não-linearidade do processo de transferência de calor. Este artigo apresenta a metodologia e os resultados de uma aplicação de tecnologia baseada em lógica Fuzzy em trocadores de calor para controle da temperatura reacional. A ferramenta do projeto é uma plataforma de controle avançado que não necessita de modelos fenomenológicos e é capaz de lidar com sistemas não-lineares. A média da temperatura de digestão ficou 0,4°C mais próxima do setpoint e a variabilidade reduziu em 61%, o que permitiu a redução em 3,2% no consumo específico de vapor.

Aug 17, 2017

By T. E. Gray, A. W. Deurbrouck

This report describes the preparation characteristics of significant coalbeds in Kanawha County , W. Va . It is one in a series of Federal Bureau of Mines reports planned to determine coals suitable for producing metallurgical coke , either as mined or after beneficiation . Almost 9.4 million tons of coal was produced in Kanawha County , W. Va . , in 1959 , of which about 67 percent was cleaned mechanically in 10 cleaning plants . It has been estimated that more than 5,505 million tons remain in the county . Samples were collected from Pittsburgh , Stockton - Lewiston , Winifrede , Cedar Grove , Peerless , Upper Kittanning , Coalburg , Powellton , Eagle A , No. 2 Gas , and the Lower Kittanning beds . These beds were selected by the Bureau based on current production rates and estimated minable reserves . Float - and - sink tests of the samples collected from Eagle A , Peerless , Cedar Grove , Winifrede , and No. 2 Gas beds show that these coals at one location each are suitable for metallurgical use without washing . Lower Kittanning bed at four locations ; Pittsburgh , Stockton - Lewiston , and No. 2 Gas beds at two locations each ; and Coalburg , Powellton , Winifrede , Peerless , Upper Kittanning , and Cedar Grove beds at one location each can be upgraded to metallurgical quality by mechanical cleaning . Crushing the samples to 3/ 8- inch top size increased yields substantially at 1.30 specific gravity of Pittsburgh ( 17.5 percentage points ) and Upper Kittanning ( 13.0 percentage points ) beds and increased yield for the other beds sampled to a lesser amount . At this specific gravity , finer crushing caused In the 1.58 specific gravity float a general decrease in ash and sulfur . fractions of the other samples tested , most of the yields , and ash and sulfur contents , were lowered slightly by finer crushing .

Jan 1, 1963

By Frank Firmstone

In the summer of 1842 my father, William Firmstone, was engaged by Charles Jackson, Jr., of Boston, to examine the conditions in the Lehigh valley as a site for blast-furnaces using anthracite for fuel. In consequence of his report, he was further engaged by Mr. Jackson to build a furnace for him and his partners on the Lehigh canal, 2 miles above the mouth of the river at Easton. Work was begun in the fall of 1842, and the first furnace blown-in in 1844. The history of the works, therefore, from 1844 to 1887, when my own connection with them ceased, covers only four years less than the whole period of the rise, culmination, and commencement of the decline in the smelting of iron with anthracite in America, the beginning of which, in a commercial sense, may be put in 1839.' Although this paper, as the title indicates, is concerned almost exclusively with the furnaces at Glendon, still what was done there was more or less influenced by current opinion in the district, and even reflects, to some extent, the changes in opinion and practice with mineral fuel the world over. No. 1 Furnace was built of red brick, on four piers, had three tuyeres and fore-hearth and tymp, as was universal with furnaces using mineral fuel until the introduction of Lurmann's cinder-tuyere. The dimensions and profile are shown in Figs. 1 and 2. The first hearth (Fig. 1) was of sandstone; all after were of fire-brick (Fig. 2). The profile was no doubt derived directly from Gibbons's furnace,2 for it appears from W. Firmstone's note-books that in October, 1840, he visited " Gibbons' new furnaces building at Corbyn Hall," and I have an old drawing,

Jan 1, 1910

By J. S. Hu

FTIR spectroscopy has been used for the characterization of adsorbed oleate at the fluorite surface. It has been found that modest changes in the adsorption density at high temperature and high oxygen potential do not provide a satisfactory explanation for the significant increase in the hydrophobic character of the system under similar conditions. Rather, FTIR spectroscopic measurements suggest that chemical interaction between adsorbed oleyl groups occurs at high temperature and/or oxygen potential and accounts for the increased hydrophobicity. Specifically, the intensity of the =CH bond of the adsorbed oleate diminishes at high temperature and/or high oxygen potential. Such a phenomenon was not observed in control tests with the calcium oleate soap. For extensive reaction at the fluorite surface, the presence of a new surface species has been identified. These results indicate that the fluorite surface catalyzes an oxidation and/or polymerization reaction between adsorbed oleyl groups which results in a more hydrophobic structure at the fluorite surface.

Jan 1, 1986

By Batric Pesic

Calcium silicate slag (Di-Cal) and magnesium oxide condensate (MgO) are the by-products of magnesium smelting operations, As these oxides have acid neutralizing and metal precipitating properties, it was decided to examine their reactions with (a) individual heavy metals and (b) with a mixture of metals in solution, The resulting solid reaction products were further tested with respect to the stability of the contained metals, The stability of the solid precipitates were examined as a function of the method of precipitation and as function of the solution pH With respect to the method of precipitation, the performance of Di-Cal and MgO was compared to the performance of lime, an industry standard for heavy metal precipitation, Four different pH solutions (4,0, 5,0, 7,0 and 1 LO) were used to study the effect of pH on the stability of the precipitates. It was found that Di-Cal, in most cases, produced the most stable precipitates and thus, outperformed lime, Metal precipitates prepared by the addition of MgO were the most soluble for each metal studied, except for Se,

Jan 1, 2001

By Lewis E. Dr. Young

MINING engineers in the United States understand that mining conditions in the British coalfields are much more difficult than in most of the mines now being operated in the United States. We realize also that in the near future we must face some of these same difficult problems. Early Mechanization The progress made in mechanical loading in the United States is the result of a long struggle in many coalfields to mine with power tools safely and to increase output per man-shift. Attempts to use power to loosen coal and to transport broken coal in the U. S. may be said to date from the Stanly Header, or Entry-Driver brought from England in 1888. The principle of this boring machine was used in the McKinlay Entry-Driver, almost continuously used in the U. S. since 1920. Since 1888 experimental loaders, scrapers, and conveyors were installed with more or less success. Beginning in 1918, considerable progress was made with mobile loaders, and in 1920 the first wage agreement for the operation of mechanical loaders was made in Indiana. In 1923 the Pocahontas Fuel Co. loaded nearly 1 million tons of coal using 23 Coloders. Labor Policy The United Mine Workers of America have never officially opposed the Mechanization movement. On December 10, 1945, in a statement before the House of Representatives Labor Committee, John L. Lewis said, regarding the policy of the United Mine Workers of America: "We have welcomed progress; we have welcomed machines. We have told our people that they had to accept that condition; that it was the process of progress, and that they would have to take their chances." Recent Development In 1951 about 71 pct of the tonnage mined underground was mechanically loaded. Over 4000 shuttle cars are in service and it is estimated that much more than half of the tonnage loaded underground is produced by trackless mining. In 1947 roof-bolting was introduced extensively and it is estimated that more than 2 ½ million bolts are now being used per month in about 600 mines. The use of roof bolts has permitted the more effective and safer use of loaders and shuttle-cars. Continuous Mining The McKinlay Entry-Driver could have been used for continuous mining, but for many years it was used only .for entry driving. In 1946 the Silver machine was developed in Colorado, and in 1947 this was acquired by the Joy Mfg. Co. and called the Joy Continuous Miner. Other types of combination mining-loading machines which eliminate drilling and blasting operations are the Marietta Miner, the Colmol, the Lee-Norse Miner, the Junior Miner, the Goodman and the Konnerth machines. There are several other types in the process of development. Probably by January 1953 there will be about 250 continuous miners in operation in the U. S. Payment of Mine Labor One of the most important problems in mechanizing was the establishing of rates of pay that would be attractive to the best men. Prior to the installation of mobile loaders the hand loaders and cutters have been paid by the ton. It was felt that a system of a day's pay should be established and that piece and tonnage rates should be abolished completely. Without exception, all coal loaded in mines equipped with mobile loaders is prepared and loaded by men paid an hourly rate. Trends in Mining Research There are two diverse approaches in coal production research; to try to design a mining machine to fit current methods, or to adapt mining practice to take advantage of proven machines. A great deal of credit must go to the mine operators who have been enterprising and dynamic enough to use available equipment intensively and to discard it as soon as an improved or new machine is available. Effect of Changing Markets Formerly there was an important demand for lump and prepared coal in the larger sizes for domestic use. The use of bituminous coal for house heating has decreased so that not more than 19 pct of the annual tonnage goes to retail trade, only 12 pct is used by the railroads, and much of the retail and most of the railroad coal is in stoker size. As a result of this decline in the market for coarse coal most of the large mining operations have crushers installed in the tipples or preparation plants. Mass production at the face requires increased preparation facilities. Another important trend is in connection with complete seam mining with mechanical loading. In many mines where the immediate roof is apt to fall with the coal no effort is made to separate roof material from coal prior to

Jan 1, 1952

By Karl J. C. Harries

"The Table of Contents that follows is only an example and is the Table of Contents from an actual negotiated agreement. It is merely intended to show how an agreement might be set out and the nature of possible provisions. As a negotiated agreement the format was dictated by the negotiations. It is not offered as a precedent of what should be contained in a joint venture agreement (“JVA”), the “proper” sequence of Articles, or a complete listing of the contents of joint venture agreements generally. The set-up used for an agreement should be decided by the parties and be one they consider flows in a logical and workable sequence. This example sets out the “deal” first, followed by the provisions relating to how work is to be carried out and then by administrative provisions necessary to make the agreement work. If you are more comfortable with, say, having the Committee provisions at the beginning, by all means have it drafted that way -- you are going to have to live with the agreement and work under it.Notes:1. The Table of Contents provisions appear in bold print. The italicized sections are annotations, which have been provided in some cases where the heading may not clearly describe the contents. They are not intended to be comprehensive, but refer to some specific matters that are considered to be of interest or to need some clarification.2. The subject matter of many of the articles and paragraphs is discussed or commented upon in the text of the book. Some of section cross-references have been provided. Such references are only to sections where the topic is a principal subject and no attempt has been made to provide a comprehensive indexing.3. Although this particular agreement is a three-party agreement, *B* and *C*, the Owners, are required to act as a unit (see para. 1.09. – § 8.44.), making the agreement effectively a two-party agreement. The parties insisted upon having a decision-making Committee and structuring the agreement accordingly. As is explained in § 8.11., such an arrangement is not recommended and can result in problems.5. See also §§ 8.24., 8.41. and 14.13. for discussions on tables of contents, summaries, and headings."

Jan 1, 2003

By Edward R. Borcherdt

When one considers the advancements made during the 25 years prior to the late fifties, and compares these advances with the progress made in the past decade, the comparison is indeed startling. It was not until 1935 that trucks began to replace rail as a major hauling facility, Initially, the haulage capacity of end dump trucks was limited to 18 or 20 tons. "Straight stick" transmissions were utilized and the available horsepower was minimal. In the early forties single planetary axle 25 ton trucks were introduced, and shortly thereafter those were followed by 35 ton tandem axle units.

Jan 1, 1967

By P. G. Vikre

Several factors have caused less emphasis to be placed on geologic mapping in mineral exploration in the last 15 years. These include opportunities for "easy" discoveries of near surface gold and silver deposits in developed countries, and of base metal deposits as well in less developed countries, a decline of emphasis on geologic mapping in many universities, and a decline of useful mapping by government agencies in many areas. Geologic mapping is simply a way of recording geologic observations on volumes of rock larger than can be seen from one place. Since most geologic processes involve systems larger than this, mapping is also essential to understand the significance of observations made on smaller volumes of rock, such as thin sections and sample taken for chemical or isotopic analysis. To be useful, the observations recorded through geologic mapping are then interpreted to arrive at an understanding of the 3D geometry and geologic history of a volume of rock, which is used to direct mineral exploration, or any number of other purposes.

Jan 1, 1995

By C. H. B. Leitch

"The Bralorne-Pioneer deposit produced more gold than any other deposit in British Columbia over its 70 years of operation (130 kg or 4 million oz of Au, from 7 million tonnes of 18 glt ore). Mineralization is related to a suite of late Cretaceous albitite dykes of 85 to 90 Ma age. It thus occurred long after and is genetically unrelated to the Early Permian (275 Ma) Bralorne diorite and soda granite.The major veins strike about 110 degrees and dip north at 70 degrees, with slickensides plunging 45 degrees east that indicate last movement was reverse. Major ore shoots in the veins occupy somewhat less than 20% of the vein and plunge steeply west, roughly perpendicular to the slickensides. The structures that contain the veins probably formed at around 95 to 90 Ma during a strike-slip episode with easterly directed maximum compression.Disseminated pyrite, pyrrhotite, and minor chalcopyrite occur within envelopes up to several metres from the veins. Arsenopyrite is confined to vein selvages. Local sphalerite and galena appear to correlate with gold-rich portions of the veins. Traces of tetrahedrite and stibnite have been observed but tellurides have not. Gold is found principally as thin smeared flakes of the native metal in the black sulphidic septae of the strongly ribboned veins. Hydrothermal alteration envelopes around the veins grade outwards from intensely foliated quartz - ankerite - sercite (±fuchsite) to less sheared calcite - chlorite - albite to unsheared epidote -calcite.Open-space vein filling textures found in the deep (mesothermal) environment at Bralorne can be explained by a fault- valve model. High-angle reverse faults may have acted as fluid-pressure activated valves on geopressured reservoirs, causing large cyclic fluctuations in fluid pressure that promoted mineral deposition in an episodic fashion . The faults that were mineralized were reactivated sub-vertical former strike slip faults, oriented at a high angle to the northeast-directed stress in a compressive regime."

Jan 1, 1990

By Christian F. Baiz

INTRODUCTION Industrial minerals can have similar financing requirements to those needs of metaliferrous and coal mining projects. One of the outstanding differences is the understanding of the many different markets that these industrial minerals represent. There are in excess of 30 principal industrial minerals ranging in terms of annual production from the largest quantity such as sand and gravel, to possibly the smallest quantity of production of a legitimate industrial mineral which may be defined as industrial and rough gem diamond. (See Tables 1 and 2) Project finance techniques, analytical methods, and information requirements are covered elsewhere in this Chapter and Chapter 10. Some comments on equity finance aspects follow. EQUITY AMOUNT The amount of equity in a financing transaction provides a cushion to the lender in case the project runs into trouble. Generally speaking, the greater the amount of risk in a project, the more equity a lender will require. The amount of cash equity in a project financing transaction is between 25 and 40 percent. The amount of leverage (debt/equity) is negotiable based on such factors as the strength and extent of the sponsor's undertakings, of the project's economics, and the term of a strong sales contract. Naturally, a borrower seeks to obtain d loan with as little equity required as can be negotiated. Zero percent equity is usually associated with a take-or-pay contract (a hell-or-high- water unconditional commitment under which the purchaser must pay for the commodity as though it were shipped regardless of whether it is actually mined or shipped) with a financially strong corporate entity i.e., the parent company or an end user. As a take-or-pay contract is tantamount to a guarantee of payment, the banker views the credit basis of the loan as being other than the borrower's mining operation and therefore will analyze the creditworthiness of the institution purchasing the commodity on the basis of its corporate balance sheet. Do not confuse a take-or-pay contract with a take-if- tendered or take-and-pay contract. Another means in the United States of obtaining zero percent equity is the carved out production payment financing, typical of coal mine financing. This involves the sale, or conveyance, by the owner of the mineral property of a production payment to a nominally capitalized company. The nominally capitalized company is formed solely to buy the production payment and usually borrows 100 percent of the purchase price from a lender. Equity amounts of 10 to 20 percent generally are found in transactions which employ techniques such as an advance sale or a subordinated lease/loan. These agreements are viewed as quasi equity by most banks for several reasons. First, the proceeds represent a cash infusion early in the project's life - usually prior to the bank lending any funds. Thus, the repayment schedule is "behind" that of the bank debt. In the case of an advance sale, repayment is in the form of a long-term supply contract with favorable terms, usually priced close to the mining operation's costs. There is also usually a requirement that all costs of the project be paid for by the loan or equity, often making the sponsors financially responsible for any cost overruns. Cost overruns are a major risk in any project, large or small, and are often due to unforeseen factors such as wildcat strikes, a piece of faulty equipment, or any event which delays completion, e.g., remote location, weather, etc.. . The question of how overruns are covered can be negotiated. For example, in addition to the original debt/equity ratio of the project, there can also be a cost overrun ratio that will

Jan 1, 1985

By Marcus Wolter Ferreira

O objetivo deste trabalho é desenvolver uma metodologia para aprovação de tubos com alta resistência a colapso de acordo com os requisitos da norma internacional API5CT grau N80, produzidos por tratamento térmico de tempera e revenimento, utilizando fornos de indução em tubos fabricados pelo processo de soldagem com resistência elétrica em alta frequência (ERW/HFIW). Neste trabalho são exploradas as principais propriedades mecânicas e dimensionais de um tubo de revestimento com diâmetro externo de 177,8 mm e parede 8,05 mm grau N80 processado para atingir alta resistência a colapso, onde serão apresentados os resultados do processo de qualificação para validação de sua produção em série.

Oct 30, 2017