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By Douglas B. Silver

"Editor’s note: Douglas B. Silver, Portfolio Manager, Orion Resource Partners, was the keynote speaker at the 2017 SME Annual Conference & Expo in Denver, CO on Feb. 19, 2017. He also gave the keynote address to the SME Annual Conference in 2008. The following is his 2017 keynote address with a few of the slides that were presented. The full speech is available on YouTube https://www.youtube. com/watch?v=uF0qwGJIX3UIn 2008, I had the privilege of giving SME’s keynote address. At that time the financial markets were on the verge of collapse and my presentation described the issues. Unfortunately I was correct, and global markets went into a steep nosedive, creating the largest economic downturn since the Great Depression.In hindsight, there were plenty of signs that this was coming. The Supercycle had created massive new wealth. This wealth was largely invested in the United States due to the country’s political stability and credit worthiness. In 2004, the large investment banks convinced the U.S. Securities Exchange Commission (SEC) to allow them to triple their borrowing leverage ratios. This made the banks more vulnerable to market volatility. The banks then lent money to NINJAS - people with no income, no job and no assets. Even worse was the fact that these unqualified home owners used adjusted-rate mortgages (ARMs) which they, of course, intended to refinance prior to interest rates rising. These mortgages were then bundled up by the banks and sold to investors as “safe” investment products. The money flowed into these products because the rating agencies gave these instruments high marks. These same agencies earned their fees from the very same banks seeking high ratings. (No conflict there). Private debt exploded and peaked out in 2008.These mortgage products were sold in an unregulated shadow banking system and the ARMs came due. Toxic mortgage default rates skyrocketed and the mortgage-backed securities collapsed in value. This house of cards had a negative feedback loop that accelerated the market crash and resulted in more than $1.5 trillion being lost in the securitization sector, a 47 percent decline in the Dow Jones Industrial Average, foreclosure rates skyrocketing and housing prices collapsing. The financial markets were in a nosedive."

Jan 8, 2017

By Milka Madahana, John Ekoru

For efficient management of operations, mining companies are required to be able to predict potential scenarios for main market factors. Competitive advantage and value creation are established through managing the value chain well. The mining value chain is usually faced with challenges from various shifts in commodity markets as well as ongoing uncertainties. Therefore, there is a need for accurate analysis of data from the markets, for the prediction of commodities, for instance, Precious Group Metals (PGM). The main objective of this research work is to apply machine learning methodologies with the aim to identify patterns and trends in the Precious Group Metals, and thereafter analyze and predict the future trends of these markets. Numerous machine learning models are applied to a dataset consisting of 15 years of daily price for eight precious metals namely Platinum, Palladium, Rhodium, Ruthenium, Osmium, Indium, Silver, and Gold. The results reveal the patterns and trends within the data sets and that different machine learning methods could be suited for the prediction of market prices for each of the PGMs. The application of an amalgamation of various machine learning methods may result in more accurate predictions of the PGM markets. Accurate prediction of market prices for PGMs will possibly result in unlocking untapped sources of value in the mining industry.

Jun 25, 2023

By D. Einarson, B. Strickland

The decision to accelerate development of Stillwater Mining’s East Boulder Mine was made in March of 1998. It required the completion of conceptual designs by July of 1998. This was accomplished through teamwork and close cooperation of mine personnel, engineering firms and vendors, all working toward the common goal of developing an efficient and workable design. Early in the project, representatives of Stillwater Mining, Kilborn International, Parsons Brinckerhoff Transit and RailSystems, Continental Conveyor, and H.A. Simons met to develop methods to bring the mine into production at a highly accelerated rate and to solve potential bottlenecks, including the movement of personnel, materials, and muck through a 5.6 km(3-1/2 mile) adit. This interaction, including companies not normally associated with the mining industry, led to innovative approaches and designs produced by Kilborn Engineering and Stillwater Mining.

Jan 1, 1999

By N. Careddu

In recent years, slabs with a rough surface have captured a large share of the ornamental stone market. However, the main technologies used for this type of treatment are based on mechanical shock (bush-hammering) or thermal treatment (flaming or flame-finishing). These traditional technologies are widely used, but have many limitations that decrease their usefulness. The purpose of this study was to develop a technology that enhances the natural colors of the rock and produces a rough surface without compromising its mechanical characteristics, in contrast to traditional technologies. This report shows the technical, economic and aesthetic results obtained with a new water-jet treatment and compares it with competing technologies.

Jul 1, 2010

By E. A. Wieselmann

In 1970 Texasgulf (Australia) introduced natural gamma radiation logging of drill holes for exploration in the Hamersley Iron Province of Western Australia. Drill hole logs have allowed positive stratigraphic and structural correlations within complexly folded secondary hematite ore deposits and between individual iron ore deposits separated by distances in excess of seventy-five miles. A Neltronics model KPD logging system and gamma-ray sonde are being used to measure the natural gamma radiation of the enriched Brockman and Marra Mamba banded iron formations. The parent banded iron formations are composed of thick, chemically precipitated iron oxide, chert, iron silicate, and carbonate with thin intro-formational clastic horizons. These clastic horizons give a greater natural gamma radiation than the banded iron horizon, and each clastic horizon has a characteristic radiation profile related to its composition and thickness. Because the natural gamma-radiation profile is unchanged during secondary enrichment of the iron formation, the present stratigraphic position of each drill hole can be established and complex folding can be accurately traced in the sub-surface. Gamma ray logging of percussion drill holes has made feasible a significant reduction in diamond core drilling without loss of accuracy. At the same time, it has provided a means of rapid evaluation of complexly folded iron ore deposits.

Jan 1, 1975

By S. K. Kawatra

Outokumpu Electronics has designed a new on-line coal slurry ash analyzer, based on an instrument developed at Michigan Technological University. The primary goal was to build an accurate instrument at the lowest possible cost. The instrument determines ash content from measurements of x-ray backscatter, iron Ka fluorescence, and low-energy y-ray absorption. It is capable of measuring the ash content with a standard error of 1.1% ash over an analysis range of 9-21% ash and 7-22% solids. The analyzer was tested on coals from United States, Poland, Great Britain and the USSR.

Jan 1, 1992

By S. S. SHINDE, P. C. JIKAR, N. B. DHOKEY

Mill scale is an oxide waste product of the steel mills, which contains around 70% iron and other allied impurities. In the present context, a dynamic prototype counter current reactor (CCR) has been used for experimentation and simulation of particle bed by using discrete element method (DEM). Mill scale was pulverized to ASTM mesh range 140 (106 μm)/ + 270 (53 μm), and then it was oxidized in CCR to make single oxide Fe2O3 phase by maintaining required thermodynamic conditions such as pure oxygen at 1100 °C. Then this oxidized powder was subjected to reduction reaction in CCR having gas mixture ( H2:N2) ratio of 1:4 at 875 ± 5 °C for filling degree (fd) and reactor revolution (ω) ranging from 5.38 to 16.14% and 2 to 5 rpm, respectively. A creeping fluid flow condition (Re ˂ 1) and natural heat convection (Gr/Re2 ˃˃ 1) has been maintained while undergoing solid–gas reaction. Besides particle bed behavior has been quantified by Froude number (Fr) for the optimum operating window. The simulation was validated by the experimental results of reactor reaction product by X-ray diffraction (XRD) and scanning electron microscope (SEM) images. Prevailing heat transfer mechanism and reduction reaction mechanism has been established for solid–gas counter current conditions.

Nov 22, 2021

By W. L. O?Connell

[Patent Issue No. Date Issued To Subject 386,504 July 24, G. Sweanor The separation of quartz from a 1588 metal with a liquid such as CS2 or CHC13 under water by introducing mixture into water layer. Quartz will stay in water layer while metal sinks through organic.]

Jan 1, 1963

By N. Edmonson

Apart from its role as an essential input to a wide array of agricultural chemicals and industrial processes, sulfur is interesting in that its supply involves competition between primary product and by-product. This general production structure is found repeatedly among markets for metals and other industrial minerals, and research results from the sulfur market potentially carry over to other markets with similar structures. The purpose of this paper is to present an analysis of the recent and prospective market for sulfur. The analysis will rely heavily on simulation using a comprehensive model of the North American sulfur market developed by the author. A brief description of the model is offered by way of introduction

Jan 1, 1993

In some 35 years in the explosive and construction industries, we have probably seen the extremes in drilling and blasting practices. All of you know that it is difficult if not impossible, to separate those two operations, particularly when we are searching for an optimum. Early in my career while doing engineering survey work for a major cross country pipeline construction company, we witnessed some of the wildest blasts imaginable, and they were wild for two reasons. Both the drill hole diameter and the drill pattern were such that when loaded with explosives, the factor in terms of pounds/cu. yd. was extremely high. On the other hand, in 1982 we were in an underground coal mine where just one hole was used to prepare a 20-ft. (6m) wide face. In this coal mine, they brought down 7 yd3 (5.35m3) of coal with just 1 lb. (.454 kg) of explosive. On a pipeline job, the factor may only be .1 yd3 per lb. of explosives. Open pit operations in the same geographical area may have almost the same type of rock, but similarities could end there. The several operators over the years will have installed different size-crushing equipment or variances will exist in other facets such as drilling, excavating, and haulage units. That tells us that if we have 6 operations in that common area, we are faced with a fact that there is an optimum drilling and blasting pattern for each of those six. We start at that point. We will note from Figure No. 2 the simple equations for determining either cu. yds. or tons. For a rock heavier than limestone, it may require only 10 to 11 cu. ft. (.31m3) for 1 ton (.91 metric ton) of rock in place.

Jan 1, 1986

By Feng Junfa, Du Feng, Li Huamin, Syd S. Peng

"The Ordos coal field is located in the northern midwestern part of China (Fig. 1). Since the mid- 1980s, it has been developed into one of the major coal fields in the world, producing approximately 833 Mt (918 million st) of raw coal in 2013. There were once more than 400 coal mines operating in the region. However, due to the combination of market conditions and implementation of government consolidation policies, the number of coal mines operating in recent years has been reduced considerably, with increasing output.The surface of the Ordos coal field is covered with loess and alluvium layers of varying thicknesses. In many areas, their combined thickness may amount to as much as 100 m (328 ft) underlain by thin bedrock. Many loess and alluvium are aquifers receiving water from rainfalls. There are also gullies of varying depths crossing the coal field. Figure 2 is a typical stratigraphic column highlighting the coal seams and roof and floor rocks of interest.In conjunction with the development of highproductivity coal mines, numerous ground control instrumentation tests have been conducted in the operating longwall panels. Analyses of the results of those tests offer the opportunity to understand the effect of wide-ranging mining and geological factors on the overburden movement. For this reason, trips were made to coal mines of interest to interview mine management and collect their unpublished internal research reports on ground control instrumentation. In addition, literature searches on published thesis/dissertations and papers in the professional journals were performed. Finally, data from a total of 95 fully mechanized longwall panels were collected. The instrumentation involved primarily the monitoring of hydraulic pressures of longwall shields, from which the first roof weighting and first roof caving interval and periodic roof weighting and periodic roof weighting interval were identified and determined. Some panels also included measurements of roofto- floor convergence at the face, roof strata bed separation, longwall face sloughage and the height of caving and fractured zones in the overburden. Those 95 panels were located in 20 coal mines (Fig. 1) congregated along both sides of the Wulunmulun River with the following mining and geological conditions. All together those 20 mines produced more than 224 Mt (246 million st) in 2013, accounting for approximately 27 percent of the total coal production in the Ordos coal field:1. Period of mining: 1991-2013.2. Mining methods: All panels employed the one slice, full-seam natural-caving longwall mining method like those practiced in the United States. All panels were developed with a twoentry system with a single-row of chain pillars measuring 20- x 20-m (65.6- x 98.4-ft) wide.3. Coal seams (Fig. 3): Coal in Ordos coal field is high-quality steam coal, that is very low in sulfur, potassium and ash, but high in Btu. Data were collected in panels mined in a total of 10 seams with 82 panels in four seams and the remaining 13 panels in six seams. The first six seams (1-2, 2-2, 3-1, 3-2, 4-2, 5-2) were mined by the Shenhua Coal Group (the world’s largest coal company) and the #4-2, 5-2, 6R, 62, and 62R seams were mined by both the Shenhua and Yitai Coal groups. In each coal group, the sequence of mining was in descending order. For example, in Shenhua Group, the top seam 1-2 was mined first, followed by the 2-2, 3-1, 3-2, and 4-2 seam in that descending order. In Fig. 3, the top-down sequence of coal seams is listed from left to right in each coal mine group. All seams were near horizontal with dip angles less than 3°."

Jan 1, 2014

The 86th Annual Meeting of the SME Minnesota section/74th Annual University of Minnesota Mining Symposium partnered with the Canadian Institute of Mining Metallurgy and Petroleum (CIM)?s Iron Ore Symposium for a historic joint conference, held this year in Duluth, MN, April 15- 17. One of a flurry of recent collaborations between SME and CIM, the joint conference was a natural fit for the conference held in the heart of the Iron Range. As CIM National President Terence Bowles said in his joint keynote with SME President Jessica Kogel, ?The U.S. imports $51 billion from Canada and Canada imports $38 billion the U.S.; that?s 50 percent of Canada?s exports and 51 percent of its imports.? The two countries? economies are linked, and nowhere more closely than in their iron ore mining activities. Kogel opened the conference with a plenary speech identifying the top 10 issues facing mining and how these issues present opportunities for mining companies. She said that it is important that the mining industry stay flexible and adapt to changing conditions, or it will go the way of the dinosaur. However, she said that these challenges can lead to new opportunities. For example, one of the major challenges facing mining is the current state of risk aversion among investors, which makes for ?less money in the pipeline.? However, this situation creates a better climate for mergers and acquisitions, which is another, less risky way to get funding. Likewise, another challenge globally is geopolitical risk; this challenge is likely to drive growth toward stable countries, which was good news for an audience composed mostly of Minnesota and Canadian mining industry personnel. One of the highlights of Kogel?s address was a triangle illustrating the interdependent nature of sustainable development and corporate social responsibility (Fig. 1). This triangle consists of four equal components: the social environment, transparency, local and global impact and future generations. The most important takeaway, Kogel said, was that sustainable development and environmental and social responsibility, while they do add to the cost of doing business, are no longer optional.

Aug 1, 2013

By B. G. White

Traditional interpretations of vein ore deposits in the Coeur d' Alene Mining District, such as the view that these deposits formed in a transcurrent tectonic regime during the Precambrian, are being supplanted by the view that the deposits (1) formed in low-grade metamorphic shear zones similar to those that host an important type of gold deposit, (2) display features, such as wall rock carbonate zoning and vein zoning, that are common to ore deposits elsewhere, and (3) are probably Mesozoic and possibly related to emplacement of the Idaho batholith. In recent years, new interpretations have led to major ore discoveries that are likely to extend the life of the district for decades.

Jan 1, 1998

By O. M. Arafat, J. A. Finch

"The Functional Performance Equation calculated from a plant grinding survey defines two distinct ball mill circuit efficiencies and how they relate to total production rate through the target grind size. The survey data are also used to calculate a complete ball mill size distribution model, represented by the energy specific grinding rates, not just through the target grind size, but through all the size classes. Cyclone separation performance is represented by individual size recoveries to underflow. When these two unit operation performances are entered into the circuit modelling program (Streamline™), along with the circuit feed rate and size distribution, all the circuit survey size distributions and mass flows are perfectly regenerated by the program. The many issues associated with the historical Epstein (breakage-selection) models are eliminated. Once the circuit program is populated, pump and cyclone performance changes can be evaluated using a step-by-step procedure in order to maximize Classification System Efficiency. Mill water use and media sizing opportunities are also diagnosed in order to maximize Mill Grinding Efficiency at the size of interest. An example is provided. This circuit analysis and modelling system, and related training, is provided through a web-based application. INTRODUCTION Since its development (McIvor, 1988), the Functional Performance Equation for ball milling has facilitated new understanding of industrial circuit cause and effect relationships, leading to significant strides in operational performance. Success stories of this refreshing approach to plant circuit performance improvement are now too numerous to list. Finch and McIvor (circa 1986) also discovered that the Functional Performance “Mill Grinding Rate” at the size of interest was the same cumulative grinding rate that is calculated from mill feed and discharge size distributions using a first-order rate equation. By calculating these cumulative grinding rates for all screen sizes, a complete ball mill model is generated (as used by Finch and Ramirez, 1981). Others in industry, Hinde and Kalala (2009), for example, have noted the same. Lacking the complexity needed to maintain their interest, most researchers have ignored this model, broadly opting instead for Epstein’s (1948) characterization of grinding as a chemical reaction, combining “selection rate” and “breakage size distribution” functions. The much simpler ball mill model presented here has previously been incorporated into a proprietary circuit modeling program (McIvor, 2005) and used for plant improvement work (for example, see McIvor and Finch, 2007, and McIvor, 2014). Now, by combining this extremely business-friendly ball mill model with optimization criteria from Functional Performance Analysis, a circuit modeling system (including the needed supplementary steps to assure successful plant implementation of circuit design changes) is at the disposal of every plant metallurgist, grinding equipment/material provider, and circuit designer."

Jan 1, 2017

By Jim V. Rouse

Adverse water-quality impacts of uranium mining and milling activities on both surface- and ground-water resources in the Grants Mineral Belt have recently been documented.1 In some cases, the impacts resulted in violation of existing regulations and license conditions and have endangered public health. Unfortunately, industry-sponsored ground-water monitoring programs do not adequately record the actual impacts of mining and milling on ground-water quality.

Jan 1, 1976

By Dennis C. Martin

Assessment of the potential for mining induced subsidence and determination of ultimate design requirements for a mining operation should be based on a number of assessment approaches. Although the rock mechanics engineer has a variety of limit equilibrium and numerical modeling tools available for assessment and prediction of subsidence effects, empirical approaches based on precedent experience provide a powerful tool for calibration/verification of analytical models and prediction of subsidence. Three separate analyses approaches have been applied to the assessment of potential subsidence for a proposed block caving mine in eastern Canada. The investigations have included an assessment of documented historical information from previous block cave mining at the site, deterministic analyses using limit equilibrium approaches to assess kinematically possible failure mechanisms, and three-dimensional numerical modeling techniques. Analyses results have been used and compared with precedent experience and documentation of subsidence behavior from previous mining to optimize the subsidence predictions for the proposed mine.

Jan 1, 1998

By D. M. Davidson

The economics of geologic exploration have changed materially in the past decade primarily due to the change in three basic factors, namely, increased wages and salaries, increased cost of materials, and a greater complexity in methods of exploration. Following the general economic pattern over the past ten years, exploration costs, have, in general, increased, although there is one heartening exception. A comparative picture is complicated because of advances in techniques which ensue from the introduction of new methods and devices largely for aerial exploratory work, Some of these methods were either in their infancy or unknown before World War II. Geological exploration may well be considered as a form of applied research. True, it has peculiarities from this standpoint some advantageous, others disadvantageous, Some of the advantages lie in the fact that exploration success does not involve the production of a new product which necessitates advertising expense and marketing problems. In normal times there is a well established market for the fruits of a successful mineral find. The outstanding disadvantage of exploration lies in the enigma of deciding when to quit if the sought fop prize is elusive. In the search for buried treasure, man?s curiosity is apt to color his judgment. Even the so-called detached scientist may fall 'all too readily into the wishful thinking of the old- time prospector who is lured on by the thought that the next pull from the drill hole, or the next round from the face will reveal a bonanza. It involves mature judgment and experience to ascertain the stage in exploration when further work is not justified.

Jan 1, 1958

By C. C. Clark

The national Institute for Occupational Safety and Health (NIOSH), Office of Mine Safety and Health, Ground Control Engineering Branch is investigating the use of shotcrete in weak rock mass mines with the objective of reducing fatalities and injuries resulting from rock fall accidents. When shotcrete is used as part of a multi-element ground support system, it is necessary to know when the material has developed a compressive strength of approximately 1 MPa (145 psi), the early threshold for safe re-entry of miner and machine into shotcreted mine workings at this value, the material has developed enough strength to be self-supporting and to allow for installation of other ground support components that require drilling of the shotcrete layer without degradation. NIOSH researchers have developed methods and portable test equipment to measure shotcrete strength on site in the first six hours after application using a partial beam test standard, a STM C 116-90 (1990). These advances were demonstrated in tests with five commercially available shotcrete mixes, sprayed as dry shotcrete using field expedient methods and equipment. The strength values from these tests allowed for real-time identification of the early strength threshold and were consistent with strengths reported using laboratory-type equipment. Measuring the early strength properties of shotcrete directly at the mine site can improve mine safety by identifying appropriate re-entry times and providing a convenient means of conducting on site quality control during shotcrete applications.

Jan 1, 2011

By T. Kawashima

The expanding volume of maritime coal transportation is intensifying the problems concerning large vessel service port construction, transshipment and environmental control. The major problem is the transshipment of coal. Customary methods for bulk transfer must be improved and/or new systems developed. Slurry unloading has a key role in the new systems. The present report reviews progress in slurry transportation research which has been done in Japan since the 1960s when large scale experiments for domestic transportation were done. Experiments on the effects of vibration on the slurry cargo and on reslurrying are discussed.

Jan 1, 1982

By AK Raina

Blasting is used in mining and civil excavations to break the rockmass for ore production or creation of space. One of the disadvantages of the method is that it causes breakage beyond the proposed excavation lines. Pre-split is used to control such breakage in rockmass. This paper introduces the use of digital image analysis technique (DIAT) to measure rock breakage and half cast factor (HCF%). A new factor, undamaged area (AUD%), is introduced to improve the prediction, owing to the shortcomings of the HCF%. A comparison of significant data of AUD% and HCF% showed that HCF% has a lacuna of overpredicting, whereas AUD% can be used effectively to address the issue. Artificial neural networks are used to solve the complexity of multiple variables involved in predictions and to ascertain the importance and sensitivity of such variables in prediction regimes. This method will help users to evolve blast-induced damage objectively. A comprehensive scheme of things for future developments is included, which can be helpful to researchers in defining their research in this area.