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In recent years there have been many changes in mine ownership due to the on-going rationalisation towards larger mining companies. Larger companies inevitably find it hard to manage small mining operations and in many cases smaller mines do not fit corporate resource, production and profit criteria. Smaller companies are more suited to managing these medium or small scale mines and are tendering for the purchase or lease of mines that larger companies wish to dispose of. In addition to these factors there has also been a trend (especially in Western Australia) for mines to continue operating at ever increasing depths. This in turn has led to more mines operating in high stress environments and experiencing damaging seismicity. Assessing the viability of seismically active mines from a takeover or purchase point of view should involve analysing the risk profile of every aspect on mining that could be affected by adverse seismicity. This includes assessing current and alternative mining methods, mine designs, support systems, extraction sequencing, monitoring and blasting. This paper includes discussion on items that need to be assessed when considering the purchase of seismically active mines, with experience gained from some recent studies in Western Australia. In these cases it was apparent that quantification of previous seismic history on itÆs own was a totally inadequate method of assessing minewide seismic risk potential. A more holistic approach is required, taking into account all aspects of relevant data, all the minewide effects of seismic activity and all possible means of mitigating those effects.

Jan 1, 2002

By Sven A. Wehrwein

Leveraged buyouts are a fixture in today's market place. This paper will include comments on how LBO's are analyzed, structured and sold, as well as an overview on the present environment of LBO's.

Jan 1, 1990

By John R. Caldon

INTRODUCTION Leasing has become a major industry in many countries because of the advantages it affords. Whilst the accounting, legal and tax treatment of leasing varies from country to country, there is far more similarity than difference. The general approach to the subject is largely the same. This paper looks to the basic financial considerations in the decision to lease or buy. TYPES OF LEASES Before embarking upon the subject, it would seem appropriate to define a "lease". A lease may be defined as: "an agreement granting one party the right to use, for a specified period of time, property owned by another party in return for a series of payments of rental by the user to the owner''. Ownership, of course, generally entitles the owner to unrestricted use of the asset over its useful life in contrast to a lease which gives the lessee use over a limited period. The distinction between the status of owner and a lessee often is fairly small. In this case we are dealing with what is generally termed a "finance lease". A finance lease is one which substantially transfers the risks and benefits of ownership from the legal owner to the lessee. For example, a finance lease would exist where the lessee enters into a lease of an asset for most of its useful life and has an option to buy the asset at the end of the lease for a price which takes cognisance of the rentals already paid. Where a lease does not substantially transfer the benefits and risks of ownership to the lessee, i.e. those benefits and risks remain with the owner and lessor, the lease is termed an "operating lease" and is an agreement for the renting and usage by the lessee of an asset owned by the lessor for a limited period. An example of an operating lease might be where a tenant leases a building for a defined period say 6 years with the rent and occupancy subject to renegotiation at the end of the lease term. The economic consequences of the distinction between a finance and an operating lease is very important. With a finance lease, the lessee has a de facto economic interest in the asset and the alternative to a finance lease is some form of purchase; with an operating lease, the lessee does not have a basic economic interest in the asset and consequently a comparison with a purchase option involves far more than simply a funding comparison. Some of the principal differences between finance and operating leases can be summarised as follows: (a) finance leases: -the risks and benefits of ownership are substantially transferred to the lessee; -the lessor normally recovers his investment during the term of the lease; -the lessor in entering into the transaction is relying more on the creditworthiness of the lessee than the underlying value of the asset; - the lease is either non-cancellable or a large penalty will apply for unilateral cancellation by the lessee; (b) operating leases -the risks and benefits of ownership remain essentially with the lessor; -the lease rental income would not normally cover the recovery of the lessor's investment; -the lessor evaluates his risk in terms of the underlying value of the assets;

Jan 1, 1985

By Donald W. Gentry

Many firms in the minerals industry are facing enormous capital-equipment requirements for existing operations, planned expansion programs, pollution control systems, etc. Yet, because of existing economic conditions, mining companies find it increasingly difficult to obtain reasonable financing for the acquisition of large, high-cost capital equipment. One way of obtaining the use of mining and other major pieces of high-cost capital equipment is through leasing. The popularity of this approach is evidenced by the growing number of leasing companies, equipment manufacturers, and financial institutions now offering this service to their customers. Indeed, leasing has become a billion-dollar industry, and many commercial banks have developed sizeable portfolios in this area. "Should we buy or lease?" This question eventually comes up whenever a mining company needs additional major capital assets. Unfortunately, many buy-or-lease decisions are made on an emotional basis-rather than on a proper financial evaluation that would yield the…

Jan 9, 1975

By Heidecker A

Several types of drainage structure providecost-effective environmental controls for water supply to Charters Towers and its mining industry. Drainage groves maintain bank-levee, channel, pool, and spring structures. Failure of drainage structures leads to anoxic fermentation of channel fill releasing residues, such as arsenic, which would otherwise pass harmlesly by fixed on sedimentary particles.Experiments along drainage structures indicate that productive agroforestry could be integrated with expeditious development of groves to cope with environmental change.

Jan 1, 1990

By P. Ulrich, V. Svalbonas

The early to mid 1980s was a period of mining consolidation, and many senior design engineers retired from the mill industry. Similar conditions have existed in the last few years. This creates a loss of a tremendous amount of experience. This paper is a look back by two senior mill designers who survived the dips in both time periods. From a continuous design practice of over 25 years, mill designs and fabrication practices are surveyed with a view of identifying what works, and is necessary, and what doesn’t, or is not necessary, in the creation of a safe, economic, long-lived grinding mill.

Jan 1, 2001

By A Keogh, P Allen, P Stoker

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Private equity (PE) firms are comparatively free of mandatory requirements for the level and scope of due diligence applied prior to making investment decisions in minerals projects when compared to listed entities, sovereign funds or financial institutions adopting the Equator Principles (Equator Principles Association, 2013). While this freedom allows for flexibility, agility and innovation in making investment decisions, it can also expose PE firms to material risks that may impact their ability to successfully list the projects or attract later financing.Financial institutions and investors with mandatory due diligence and disclosure standards may refrain from investment in or acquisition of a project if it fails to meet various performance requirements. There are many high-profile projects that have suffered significant write-downs on book value after acquisition because specific non-mining issues were not adequately assessed. Thus, a PE firm may be left with an asset that is difficult to divest and incapable of securing development finance.PE firms can manage this risk by being aware of the growth trend in the adoption of ‘international standards’ in addition to host nation standards and legislative requirements. This paper outlines key issues for PE firms to address to maximise the chances of obtaining funding or successfully taking an exploration or mining project through to listing or divestment. Two steps are required: identification of gaps in performance and priority matters of interest to financial institutions and development of action plans to ensure that the priority requirements are met or capable of being met.A PE firm can set its project for success by understanding the social and environmental performance requirements of international standard financiers and by setting the project on the right path to meeting these requirements, and thus making it an attractive investment.CITATION:Allen, P, Stoker, P and Keogh, A, 2015. Setting for success – private equity exploration and mining project buy-in to listing and divestment , in Proceedings PACRIM 2015 Congress, pp 93–100 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By John A. Johnson

"INTRODUCTION The use of wet drilling with adequate ventilation has largely controlled production of dust in drilling rock; however, in some operations, such as shaft sinking and modern tunnel driving, when each of a number of drills is operating in a small cross-sectional area, it is at times difficult to ventilate well enough to keep the dust concentration within desired limits.Some chemical compounds, known as wetting agents, when added to water in small quantities reduce the interfacial tension and make it possible for the solution to wet dust particles more effectively than water alone.This report presents results of tests on the effectiveness of two wetting solutions in reducing the amount of dust produced by wet drilling in basalt.ACKNOWLEDGMENTSThe tests were conducted the Bureau's Mount 'Weather Testing Adit,Mount Weather, The author acknowledges the assistance and cooperation of Wing G. Agnew, superintendent; Marvin M. Revelle, mining-engineering aide; and the rest of the crew at Mount Weather in conducting the tests. C. W. Owings, mining engineer, Safety Division, assisted in conducting some of the first tests and gavel valuable advice and guidance throughout the work and in preparing this report."

Jan 1, 1943

By John A. Johnson

"INTRODUCTION The use of wet drilling with adequate ventilation has largely controlled production of dust in drilling rock; however, in some operations, such as shaft sinking and modern tunnel driving, when each of a number of drills is operating in a small cross-sectional area, it is at times difficult to ventilate well enough to keep the dust concentration within desired limits.Some chemical compounds, known as wetting agents, when added to water in small quantities reduce the interfacial tension and make it possible for the solution to wet dust particles more effectively than water alone.This report presents results of tests on the effectiveness of two wetting solutions in reducing the amount of dust produced by wet drilling in basalt.ACKNOWLEDGMENTSThe tests were conducted at the Bureau's Mount Weather Testing Adit, Mount Weathe, Va. The author acknowledges the assistance and cooperation of Wing G. Agnew, superintendent; Marvin M. Reveille, mining-ngineering aide; and the rest of the crew at Mount Weather in conducting the tests. C. W. Owings, mining engineer, Safety Division, assisted in conducting some of the first tests and gave valuable advice and guidance throughout the work and in preparing this report."

Jan 1, 1943

By A. Johnson

When are SMART transmitters the smartest choice? To answer this question requires a closer look at SMART transmitter technology. It is necessary to understand this technology in order to recognize how it can best be utilized to give the greatest value for the application. And, once the decision to buy transmitters has been made, it becomes a question of whose SMART transmitter to buy. For, although the under-lying technology is similar, the differences that exist in how the technology has been implemented can make a dramatic difference in the end result. What prudent users of SMART technology do is to analyze their needs by application before making their buying decision.

Jan 1, 1988

By Blandford C. Burgess

Mica is an orchid among minerals. It is formed in pegmatites, one of the most bizarre of igneous formations, and is exceeded by few other minerals in the perfection it may attain as to size, color, and cleavage. First used for window glazing, as an ornament and article of trade, it has become one of the most essential insulators of electricity, heat, and shock. Most internal combustion engines use mica condensers or capacitors and such machines of war as planes, tanks, and submarines are immobile without it. The original manuscript of this guide was written in April 1943 at the peak of war emergency. It was not used be- cause shortly thereafter a decision was made to buy on a one price basis eliminating differentials for both quality and size. This is now presented with the thought that from the standpoint of preparedness we can only consider an- other war imminent and every effort should he made to set up in usable form the experience gained during the Second World War. Colonial Mica Corp. was set up by Metals Reserve Co. as a wholly owned government agency to encourage production of domestic mica and to purchase it. It soon became the exclusive buying agency for such mica. The writer as Southern Manager called on all the private agencies buying mica to assist in formulating buying policies, methods, and prices.

Jan 1, 1949

By David van Cleave, David L. Rome

Whether you buy your minicomputer from a manufacturer or another vendor, the first thing you must do is define your needs. With good planning, the initial cost will be low and your return on investment will be maximized over the long term. Involving all members of your staff who will he using the new computer in the planning phase is also important. Their participation will alleviate any potential concerns they may have about new equipment, and their suggestions will provide valuable input for your specifications. After you define your proposed system, survey available hardware and software. The survey will help you in the next step, preparation of specifications. The specifications, along with a quote request, are then sent to various manufacturers. Consider the Manufacturer When selecting your minicomputer, one important item to consider is the manufacturer. Remember, when you buy a computer, you're also buying the services of a computer company. A firm that makes a commitment to its customers and provides a product that is field tested before releasing it for sale is preferable. Examine the company's maintenance and support packages, since every machine requires preventive maintenance. Does your manufacturer or original equipment manufacturer (OEM) support service sites in your area? Has their service record been commendable? Will they provide training for your personnel and a supply of circuit boards so you can retain a degree of self-service autonomy? Three methods of buying a computer involve the manufacturer, an OEM, and the systems house. Buying direct from the manufacturer means you go straight to the source, using no middleman. This gives you maximum flexibility; you can consider every alternative and many possible combinations of computers, peripherals, and software until you find exactly the right system for you. The OEM buys computers direct from the manufacturer and builds them into his own computerized, special purpose product. He usually sells a complete package, including software and hardware, and often noncompetitive equipment as well (a scientific or engineering instrument, for example), designed for the mining market. Because he offers a packaged product, the OEM can often charge less for the system than if you put the pieces together yourself. In many ways, the OEM also provides a unique system. And while the OEM sells a packaged solution, he also usually has the special market knowledge necessary to modify the system to meet your unique needs, if necessary.

Jan 11, 1981

By Blandford C. Burgess

Mica is an orchid among minerals. It is formed in pegmatites, one of the most bizarre of igneous formations, and is exceeded by few other minerals in the perfection it may attain as to size, color, and cleavage. First used for window glazing, as an ornament and article of trade, it has become one of the most essential insulators of electricity, heat, and shock. Most internal combustion engines use mica condensers or capacitors and such machines of war as planes, tanks, and submarines are immobile without it. The original manuscript of this guide was written in April 1943 at the peak of war emergency. It was not used because shortly thereafter a decision was made to buy on a one price basis eliminating differentials for both quality and size. This is now presented with the thought that from the standpoint of preparedness we can only consider another war imminent and every effort should be made to set up in usable form the experience gained during the Second Morld War. Colonial Mica Corp. was set up by Metals Reserve Co. as a wholly owned government agency to encourage production of domestic mica and to purchase it. It soon became the exclusive buyimg agency for such mica. The writer as Southern Manager called on all the private agencies buying mica to assist in formulating buying policies, methods, and prices. A meeting was held for that purpose in Asheville, N. C., July 20, 1942. In the general discussion the first two hours of the meeting it was decided that the following factors should be considered in pricing strategic mica: clearness, flatness, trimming, color, classification (size and quality), free splitting, hardness, and air inclusions. Most of the mica miners have been buying strategic mica, according to the mine, as No. 1, No. 2, or Nos. 1 and 2 combined. In addition to these grades of strategic mica they have been buying three lower grades of mica, electric (vegetable-stained), black-spotted and black-stained. A number of mines were named one by one and the buyers present gave their opinions as to the basis they would use in buying the sheet mica from each. It was suggested that in addition to the prices already published, prices be posted up to 10 pct higher for special quality and preparation and prices be posted 25 pct lower than the published prices for the lowest acceptable grades of strategic mica, giving the buyers authority to make intermediate prices according to the quality and preparation. It was thought desirable at the same time to announce prices for nonstra-tegic mica where such quality is being obtained in mines producing strategic mica and where it would be necessary to take the output in order to get the strategic mica. It was also suggested that the price of electric and black-spotted mica be 50 pct below the price of the lowest grade of strategic mica and the price of black-stained mica be 60 pct below the price of lowest grade strategic mica. The few experienced buyers available were employed but they were inadequate for the job and others had to be trained. All needed a guide or primer of some kind to attain systematic procedure and consistent prices in their respective buying areas. The Mica Buyers Guide was formulated for that purpose based on experience gained in the first six months of buying. The Preface to the original guide was as follows: The purpose of this guide is to serve as a text in training beginners and as a handbook for experienced buyers of the instructions which have been issued up to this time. At the meeting of prospective buyers last summer, it developed that the first essential to attain uniformity must be some kind of check sheet. Our "Mica Buyers Report" was developed for this purpose and forms the backbone of this guide. Price is determined according to size, quality and preparation. Size can be measured, but no system of measurement or machine has been devised which can be substituted for the trained eye of the buyer to deterrnine quality and preparation. Although the "One Price" system was instituted and the "Guide" not used, the buyers were required to continue making out a "Mica Buyers Report" (Fig1) with each lot of mica purchased. The form proved its value and there is no doubt that in another such emergency some similar form should be

Jan 1, 1950

By Michel Carreau

Presentation topic Introduction to Renewable Power in Remote Mining Industry Trend What are the Challenges and How to address them Acceptability (Management Buy-in) ? RP not core business to mining company Significant upfront costs Project Risks - Technological and Delivery Wind and solar power variability Operating hybrid power (Operator Buy-in) Conclusion Introduction ? RP at Remote Mining Sites Mining Project Cost Energy represents 25% of mining project CAPEX Energy represents 25% of OPEX Diesel, HFO, ? cost : 30+ cents/kWh RP - Proven technology - Excellent track record ?Wind (20 years), Solar PV (10+ years)? Hundreds of GW installed ?Reliable, High availability, very small OPEX. ?Wind/Solar cost : 15 to 22 cents/kWh (with good resource) ?Potential 10% to 20% Reduction in net cost of energy ?Price certainty for 20 to 25 years

May 1, 2013

By NA NA

RJB completes purchase of second lease-licence mine, Miller buys Wimpey Mining, Point of Ayr Colliery in North Wales closes, jobs created at Lithgow Minerals Processing Park, Australia.

Jan 9, 1996

By Michael Ferrell

The primary reason pigments are used in plastics is to impart a desired color to the plastic. Color is one of the more important assign considerations associated with today's market oriented society. Secondary reasons for adding pigments to plastics include: 1. Improved UV stability 2. Enhancement to selected physical properties 3. Changes in optical properties Pigments may be used at loadings as high as 20% or as low as .001%. Generally the loading levels are between 0.2% and 2.0%. Pigments may be added to the plastic either by the manufacturer of the plastic, or by the user of the plastic. If the customer buys material that is already colored, it is referred to as "pre-colored". If the customer buys uncolored plastic and adds colorants, the process is referred to as "in-house" coloring.

Jan 1, 1985

By Paul Swatkowski

A Note About Copyrighted Material ??Permission to Use? has been granted ?Teachthe7habits ?Think win/win (4thHabit) ?Don?t stop here ?i.e., buy the book

Jan 1, 2009

By Donald K. Sparling, C. Edwin Baker

The White Mesa uranium/vanadium mill is six miles south of Blanding, UT, on the Colorado Plateau, which has historically spawned more than 200 uranium mines. As uranium prices approached an all-time high during the mill planning period, Energy Fuels Nuclear Inc. anticipated the reopening of many of these mines, whose low grade ore suddenly looked economic. The company located the White Mesa mill close to these mines, to minimize hauling distances to the mill and give vendors added incentive to reopen or expand mine operations. A receptive local community, a relatively unencumbered trip through the regulatory maze, and some mill circuit innovations all helped to make the White Mesa mill a well functioning reality. From a strategic standpoint, and to begin ore stockpiling as early as possible, Energy Fuels constructed two ore buying stations and began receiving ore in early 1977. The buying stations were located at Hanksville and at what is now the Blanding mill site. Ore receipts at Hanksville did not materialize as anticipated and the facility has since been closed. The Blanding ore buying station is now an integral part of the milling operation. All ores, whether company, vendor, or for toll milling, are received at the Blanding station. The Blanding site was central to the plateau mines, and was well received by area residents, who encouraged the introduction of industry to the area. Residents viewed mill construc¬tion as an economic blessing and were prepared to accept the associated im¬pacts. Energy Fuels hired as many local people as possible for mill opera¬tions.

Jan 4, 1981

By R. T. Swinderman

"Virtually every article you read on safety has a statement to the effect: “It’s obvious that safety pays”. If it is so obvious, why is it so hard to answer these questions? • How does the Maintenance or Operations Manager convince the Plant Manager to spend money from the annual budget for safety improvements? • How does the Plant Manager influence Corporate to prioritize safety improvements? • How does an engineering firm persuade the owner to spend more on design and equipment up front to reduce risk? There are many cultural and structural reasons why it is so difficult to prove the obvious. In my opinion the main culprits are: the almost universally used ‘Low Bid’ process, variations in reporting incident statistics between industries and countries, and, the Generally Accepted Accounting procedures (GAAP) [or International Financial Reporting Standards (IFRS)]. Conventional wisdom is it’s smart not to spend more than you need to meet the minimum regulations and maximize production. But buying on price alone often harms people, degrades the environment, and reduces the company’s bottom line. How can this be? You met the minimum safety requirements and saved money by buying on price. Don’t those savings go right to the bottom line? When you buy on price you get minimum quality, minimum compliance and are often backed corner with no reasonable options to rectify the problems that arise from buying on price instead of buying on long term life cycle cost. Culturally few companies actually ‘walk the talk’. It is trendy to have giant billboards at plant entrances proclaiming world class compliance with quality and safety standards. Annual reports are embellished with safety slogans and sustainability statements. Behind the front gates and the glossy annual reports the message is clear: produce or be replaced. Only a few companies go beyond the window dressing and actually endorse, from the top down, continuously improving their safety culture. Those that do embrace safety, show significant performance advantages over their competition that are reflected in their safety, productivity and environmental records and, ultimately their financial statements and share price. Current accounting (and reward) systems make it unlikely financial managers will accept non-conventional approaches to justifying expenditures on safety because they are driven to report “hard” numbers that can be documented and are within the “GAAP or IFRS Rules.” But in reality, accountants quantify soft or intangible costs all the time in their financial statements. Justifying safety investments is greatly enhanced by quantifying what most financial managers would call intangible costs. Government agencies have no problem assigning intangible costs to justify regulations to improve safety. How many times have you heard that the regulation is justified because the cost to industry is X while the benefit to the society is 2 or 3X? How can they say that without including intangible costs? We find it hard to believe these government claims of benefits to society because we have been trained to think about saving hard direct costs to justify investments."

Jan 1, 2017

R. Dawson Hall, who has long been a member of the editorial staff of Coal Age, has been appointed managing editor. Increase the Promise of the future. Buy W. S. S.

Jan 7, 1919