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By Alfred Opengart

During any rush hour, tens of thousands of automobiles clog the main highways leading into or out of our large cities. Inevitably one or more cars stall or plow into another, causing a momentous traffic jam. Traffic backs up for miles as drivers try to maneuver around the roadblock. As commuters, we grin and bear the inconvenience, rationalizing the delay as part of the price one pays to live in a modern society. The truth of the matter is that the engineers planning the roads have the know-how to build adequate bypass alternatives into their design. The problem is one of economics -- can the cost of eliminating roadblocks be justified? Engineers designing solutions to complex materials handling problems for modem distribution centers are just now beginning to ask this question in relation to their work. Unfortunately in many instances, it has taken an expensive "traffic jam" to bring this question to the front. In these cases, a seemingly practical system promising an attractive return on investment -- using the latest equipment and computer controls -- was designed and installed. Everything went according to plan until one day a breakdown occurred. .Product flow stopped, and management realized it was at the mercy of the "machine." In such situations, management had assumed it could minimize the risks of the breakdown by injecting extra manpower to operate the system manually and pay the associated costs. What it had not recognized is that manual intervention is nearly impossible with sophisticated systems. Thus, too often -- and sometimes too late -- management found itself footing a very high bill for losses incurred because of major production stoppages and missed customer shipments.

Jan 1, 1973

By L. C. Raymond

Good afternoon. I have entitled my talk "Investment for Progress," implying thereby a spark of friendly competition by private enterprise with such government-inspired foreign aid and investment programs as the Alliance for Progress. While the subject of foreign investment is hardly a new one, the perpetual flux of the political and economic surface of this earth we inhabit makes it forever timely and forever interesting. Especially do tremendous opportunities for international investment constantly present themselves to the mineral industry, and just as often must the industry approach these opportunities with a great deal of investigation and caution. This is not to say that the mineral industry--no less than any other industry--should be unenthusiastic about the foreign scene, but like everyone who proposes to put his money where his hope is, it should consider all the factors and weigh the possible disappointments as well as the rewards.

Jan 1, 1964

By T. Kontos

Rogers Group, Inc., is the nation's largest privately held aggregates producer (primarily producing crushed limestone and secondarily sand & gravel) and a major regional asphalt paving construction contractor. The company also has interests in building supplies and coal. Facilities are concentrated in five states in the central U.S. (Ohio, Indiana, Kentucky, Tennessee, and Alabama), with an additional location in Southwestern Virginia. At the request of its then CEO and with support from the company's ownership, Rogers embarked on a strategic planning program in late 1986 by retaining an outside management consulting firm. The ultimate goal of this program was to develop a self-sustaining strategic planning process to inject a strategic dimension into every manager's business thinking and to improve company performance. Since then, Rogers has internalized the outside consultants' strategic planning framework --initially, using it wholesale, and later, greatly streamlining and tailoring both the planning process and product to meet the specific needs of the company. Implementation of strategies developed from strategic planning has resulted in significant improvements throughout the organization. The latest product of the strategic planning effort is a company-wide (or, "corporate") strategic plan that carries the theme of "Market Leadership through Excellence". This paper provides a case study of successful corporate strategic planning by examining the evolution of strategic planning at Rogers and by summarizing the key elements of a sound planning process and product.

Jan 1, 1994

By E. Lammer

"Underground mining processes are dangerous. The design of mining equipment, which is able to cope with the hostile underground environment, is a challenge for all machine manufacturers. Presupposition for realizing the vision of SANDVIK for zero harm for working with SANDVIK equipment is the installation of the appropriate processes. Into the product engineering and product development processes of Sandvik Mining and Construction, a specific "Product Safety Process" has been integrated, where all safety related activities like identification of all life cycle hazards, risk management and safety verification / validation are planned, performed and documented. Product safety shall be „designed into" the products. Therefore, specific research activities have been started, to address the safety and health related topics for the development and for the engineering of SANDVIK mining machines."

Jan 1, 2011

By Paul J. Henkels

Synthetic gypsum is the calcium sulfate co-product of a number of industrial processes. Synthetic gypsum utilization as an alternative to the naturally occurring mineral continues to grow in the gypsum industry. In particular, flue gas desulfurization (FGD) gypsum produced by the electrical utility industry has had a significant impact and a far-reaching effect on the gypsum wallboard manufacturing industry. This paper will discuss the various synthetic gypsum sources verses natural gypsum and highlight issues of use in gypsum wallboard and related products.

Jan 1, 1999

By Murray W. Hitzman

Two great revolutions in mining occurred during the 20th century. The first took place almost 100 years ago (1903-1905) with Daniel Jackling’s experiment in the economies of scale for large-scale mining at Bingham Canyon. Jackling’s ideas changed the focus of base metal exploration toward lower-grade, high-tonnage deposits. The second revolution was the impact of environmental and social concerns on mining. It started near the end of the 20th century and is still under way. This article speculates on the effects of this second revolution on the future of mineral exploration.

Jan 1, 2005

More than 100,000 people are expected to be in Las Vegas, NV in March for ConExpo-Con/Agg 2002, the largest exhibit of its kind in the Western Hemisphere. This triennial event features equipment, services and technical sessions geared toward the global construction aggregates and ready mix concrete industries. ConExpo-Con/Agg 2002 will take place March 19-25, 2002 at the Las Vegas Convention Center. For registration information, contact the show offices, phone 800-867-6060, 414-298-4141, or 301-587-3140, Website www.conexpoconagg.com.

Jan 1, 2002

By Lisa Morrison

The 11th Annual Mineral Economics and Management Society (MEMS) conference was held April10-12, 2002, in Montreal, Quebec. It consisted of a series of technical sessions. Each paper addressed the economic issues that are related to the changes that many people believe are now required in the mining industry. Some of the papers were directed at how the mining industry will handle the changes that will be required in its philosophy and operations management. Of equal importance was whether the industry possesses the toolkit necessary to effect these changes and emerge stronger from its challenges.

Jan 1, 2002

By Steve Kral

More than 124,000 people involved in the mining and construction industries throughout the world poured into Las Vegas, NV in March for ConExpo-Con/Agg ’99. Show organizers said this triennial exhibition is the largest equipment show in the Western Hemisphere and one of the largest exhibition of any industry. “Clearly, Con-Expo-Con/Agg ’99 was one of the largest trade shows of any industry ever held in the Western Hemisphere,” said Bruno Benna, co-chair of the event. Attendees included mining industry representatives, including aggregates, and sand and gravel producers. In addition, many of the attendees work in the construction, reclamation, forestry, asphalt paving, landscaping and concrete industries. According to show records, about 52% of those attending were company presidents, vice presidents, chief financial officers or managers.

Jan 1, 1999

By Thomas D. Kaufmann

The 1982 recession set the US mining and metals industries reeling. Will the oncoming recession of 1991 hit as hard? Probably not, thanks to a shallower downturn, a weaker dollar and remarkable lower costs. Effects of the last recession That the 1982 recession was traumatic to the American mining and metals industry is an understatement. Quantities of metals consumed dropped. Metals prices fell despite continuing general inflation. The resulting real gross revenues of producers of each of the major metals plunged, in the trough of 1982, to levels one-fourth to two-thirds of those of the peak of 1979 (Table 1). By contrast, most industries in the United States were not hit anywhere nearly as hard. Real GNP, the aggregate of all production, slipped only 1 % from 1979 to 1982. Metals are most sensitive to the business cycle because of their applications. All metals but gold are raw materials to downstream industries. Raw materials are victims of strong fluctuations. This is because buying industries try to hold high inventories in boom periods when goods are in short supply. They reduce inventory levels in buyers markets when suppliers have idle capacity and raw materials are in ample supply.

Jan 1, 1990

By Milton H. Ward

The percentage of exploration dollars flowing out of the industrialized countries continues at an all-time high, and this shift in risk money is justified (Samuels, 1990; Bosson, 1977). Clearly, the odds of discovery are greatly enhanced if exploration is pursued in an untrampled and geologically more prospective environment. Unfortunately, such major unexplored areas of the developed world are shrinking rapidly, not just because the lands have already been tested, but primarily because they have been withdrawn from exploration. Experience, however, has shown that foreign investment is not without risks. These include problems that result from working in isolated areas, a lack of infrastructure, untrained workers and an absence of a solid geological data base. While the likelihood of once-feared expropriation is now low, mining enterprises still must take precautions to gain the support of their constituencies, including a variety of governments (local, provincial and central), workers, environmentalists, cultural organizations and local landowners. Is foreign exploration worth the risk? In most cases, Yes! But maintaining tenure and long-term success in a less developed country is only likely with good planning and the use of appropriate safeguards. These include measures such as buying country-risk insurance, building multinational relationships, forming joint investments, developing a broad customer base and seeking local investors in the company (Cobbe, 1979). The primary theme of this lecture is: How a company handles its constituency is critical to long-term tenure in a foreign country. Ideally, a multinational mining company would be so effective in dealing with the local people and managing its relationship with the host government that it would become a preferred employer, preferred over its competitors and over local companies. Historical overview Our earliest ancestors lived in Africa three to four million years ago. The Paleolithic or Old Stone Age, about 500,000 years ago, marked the beginning of mining in its earliest form (Gregory, 1980; Wolf, 1984). Various types of rocks and stones were used for tools and weapons, with flint being the preferred resource for implements. Initially, these materials were collected as stones (eoliths) lying on the surface. Then they came from excavations of flint in limestone beds that were exposed in river banks or naturally occurring excavations. Later, more formal mining developed. No doubt tribes of the Old Stone Age experienced conflict over rights to eoliths, food and land. The question of who owns the land and has rights to its contents and what is fair value for extraction is still the subject of intense debate and, occasionally, open conflict. As time passed, the search for useful minerals required migration from one area to another. Later, voyages from Europe to the New World and travels to other remote regions were funded and supported by absentee investors, kings and such (Rogers, 1976). The primary objective of such funding was to obtain gold, silver, food stuffs and other commodities that could be collected from the new countries. This is still the objective of foreign investment.

Jan 1, 1994

By Donald W. Gentry

Introduction The mining industry is perhaps best characterized by the numerous and abnormally high risks associated with the business of mining and by its most basic assets - ore deposits, people and technology. At the most fundamental level, it is the quality and effective utilization of these basic assets that determine a mining company's ability to compete efficiently in the international market place. The gold industry has received much attention in recent years and especially in recent months, for good reason. This commodity serves as an excellent platform for the subsequent discussion of these three basic assets and their role in mining's future. Facets of the gold industry The fate of this noble metal in recent times illustrates some of the various risks associated with the mining industry and the importance of high-quality assets, whether they be ore deposits, people or technologies. The following comments pertaining to the gold industry help place proper focus on subsequent discussions. All monetary amounts given are in US dollars. Throughout 1997, falling gold prices broke record after record: first hitting three-year lows, then a 12-year low in July and finally an 18-year low at year's end. From Jan. 1 through Dec. 31, 1997, the price of gold fell by more than $2.57/g ($80/oz), or some 22%. The decline in gold-mining profitability and stock prices was even more dramatic. At the beginning of 1997, the 20 largest gold producers in North America had a market capitalization of approximately $44.5 billion. At year's end, this market cap had fallen to $26.2 billion, a reduction of 41%. The total market cap of all the world's gold companies fell from $71 billion to $46 billion, a 35% drop (Serwer, 1998). Analyses suggest that, at a spot gold price of $9.65/g ($300/oz), only one, or possibly two, North American gold-producing companies can make money when break-even or "total costs of production" are considered. While strong hedge positions mitigate this situation in the short term, clearly, this is an industry in desperate straits. For example, write-downs for North American producers in 1997 were approximately $2.5 billion. Speculative short positions in 1997 were near historical record highs and generally exceeded long positions by factors of 9:1 or 10:1. Much of this is driven by some US commercial banks, hedge fund managers and commodity speculators who can significantly move gold prices sharply over short periods of time by selling gold they do not own in the expectation they can buy it back at a lower price before they have to deliver. These signifcant short positions are likely to continue as long as central banks are willing to sell or loan gold to financial institutions that in turn make the gold available to speculators who hope to capitalize on price fluctuations. The Far East accounts for approximately 26% of the annual demand for gold. Including India, the region accounts for 43% of total demand. More than 85% of the physical demand for gold is for investment jewelry in Asia and the Middle East. This demand is extraordinarily price sensitive. The fairly recent turmoil in Asian markets and economies, combined with currency devaluations throughout the region, have made gold more expensive (30% to 50% in local currencies) for those peoples most likely to treat gold as a safe investment haven. Higher interest rates also have reduced the amount of money they have to spend on consumer goods such as jewelry. All of these recent Asian events are deflationary in nature. Deflation, if coincident with rising unemployment, could result in significant dishoarding of gold. There is one key fact to remember when analyzing

Jan 1, 1999

By Richard A. Bideaux

With both unit costs per meter and average depth of drilling constantly increasing, there is a strong incentive to maximize the information acquired from drill holes, and then to make this information accessible to the geological staff. The larger the drilling project, the more advantageous computerization of data is over manual methods. The conversion to computer-readable form and the verification of large amounts of drill-hole data can be a substantial data processing task, but once accomplished, the benefits in increased accuracy and speed of interpretation will compensate for the time and effort spent in the work. For an exploration project progressing towards a preliminary feasibility study, about half of both the time and costs for all computer work of the entire feasibility study are devoted to drill-hole data base organization, and maintenance. Once drill-hole results are quantified and verified to be correct, they are immediately accessible and are not subject to further transcription or reinterpretation of errors. To obtain maximum benefits from computer utilization in this area, the drill-hole data base should be set up along with availability of the first data. For some companies, this may initially comprise a large number of purely speculative drill holes on a spacing of perhaps 1 or 2 km. Although few of these drill holes may encounter economic material, thought should be given, at this time, to the variables which will be logged when such material is found. In this way, it should be possible to set up a consistent format into which all future drill-hole information will readily be accommodated. This format may even be carried over into the data base requirements for an operating property.

Jan 1, 1979

By Hugo T. Dummett

I would like to share some observations about the mining business and place the ongoing discussion in the context of our changed world. The mining industry practices its trade in a universe defined by prices, laws and governments. Prices, as in what the industry is paid for what it produces, and the costs of goods and services. Laws that have to be transparent and fair. And governments that the industry prefers to be stable and supportive of the industry, and certainly not corrupt. However, the day-to-day realities of the mining business in 2000 are not what they were 10 years ago. Several events have occurred that have resulted in a less populated workplace that is obliged to work much smarter and faster. These include real declining prices for most mineral commodities; low and diminishing returns to company shareholders; massive restructuring of the industry through mergers, partnerships and alliances; gold’s changed role from reserve currency to just another commodity; the growing importance of native title and the startling imperatives of “sustainable development.” In addition, the “borderless world” now means that resource companies will need to pass the test of being responsible corporate guests who respect and enhance the social, moral and societal values of their host countries.

Jan 1, 2000

By Raymond W. Henn

The 30th annual short course ?Grouting Fundamentals and Current Practice? was held at the Colorado School of Mines, June 22-26, 2009. The field demonstration portion of the course was conducted June 25, at Hayward Baker, Inc.?s yard in Broomfield, CO. The full-scale field demonstration annually presents many different types of drilling equipment being operated as well as various grouting methods being performed under different field conditions. As part of the field demonstration, the class is shown the proportioning, mixing, testing and injection of various cement grout mixes into sand columns under controlled and measured conditions. These sand column demonstrations have been conducted under controlled and measured conditions each year since 1999 as part of the short course. The sand column demonstrations were conducted prior to 1999, but with less quality control and minimal record keeping of the proportioning, mixing, testing, injection pressures and the final permeation results. The goal of the sand column demonstration is to show the students the effect of the water cement ratio and the use of admixture as well as the fineness of the cement, portland versus ultrafine, used has on the engineering properties of the grout and the grout?s vertical permeation through the sand. Test results for the demonstrations conducted in 1999 and for two separate demonstrations, one at the grout course and one at Geo Denver, conducted in 2000 were published in the 2001 proceedings of the Rapid Excavation and Tunneling Conference (RETC) (Henn et al. 2001). The test results for the 2002 and the 2003 demonstrations were published in the 2005 proceeding of the RETC (Henn et al. 2005).

Jan 1, 2009

By Raymond W. Henn

The 31th annual short course ?Grouting Fundamentals and Current Practice? was held at the Colorado School of Mines, in Golden, CO June 7-11, 2010. The field demonstration portion of the course was conducted June 10 at wlh Construction Co.?s yard in Denver, CO. The full-scale field demonstration presents many types of drilling and grouting equipment in operation as well as numerous grouting methods performed under various field conditions.

Jan 1, 2010

By Raymond W. Henn

The 32nd annual short course ?Grouting Fundamentals and Current Practice? was held at the Colorado School of Mines, June 13-17, 2011. The field demonstration portion of the course was conducted June 16 at Baski Inc.?s yard in Denver, CO. The full-scale field demonstration presents many types of drilling and grouting equipment in operation as well as numerous grouting methods per-formed under various field conditions. As part of the field demonstration, the class was shown the proportioning, mixing, testing and injection of various cement grout mixes into sand columns under controlled and recorded conditions. These sand column demonstrations have been conducted under controlled and measured conditions each year since 1999 as part of the short course. The sand column demonstrations were conducted prior to 1999, but with less quality control and minimal record keeping of the proportioning, mixing, testing, injection pressures and the final permeation results.

Jan 1, 2011

By R. Adams

Zirconium is the 20th most abundant element in the Earth?s crust and it most often occurs in the form of silicate (as zircon), less often in the oxide form (as baddeleyite or caldesite). Historically, the world?s production of zircon was entirely derived from mining and processing beach sands or heavy mineral sands that were being exploited primarily for their titanium content, i.e., to generate TiO2 feedstocks that would be used for making titanium pigments and, to a lesser extent, titanium metal. Zircon was then regarded as a byproduct, with the sharply fluctuating prices typical of a commodity where the supply is essentially involuntary and not truly responsive to market demand. However, in recent years, zircon has shown considerable mining investment appeal in its own right. Projects have been planned ? and some have already come to fruition ? based mainly on the zircon potential of the deposit. Booming Chinese demand for zircon to meet the requirements of the ceramic and zirconium chemical sectors has been a major factor causing zircon prices (f.o.b. Australia) to surge from US$674/t ($611/st) at [ ] the end of 2005 to beyond US$2,400/t ($2,177/st) by the end of 2011.

Jan 1, 2012

For the first time in its history, the George A. Fox Conference let its focus venture away from the friendly confines of the East Coast of the United States to spend part of the one-day conference looking at projects from around the globe. With a record-setting attendance of 377 people, the conference, titled ?Tunneling: An international perspective,? opened with a keynote speech from special guest In-Mo Lee, professor, Korea University in Seoul, South Korea. He is also the president of the ITA-AITES. In a sweeping presentation, Lee walked the packed audience through some of the most fascinating and challenging projects in his home country. Among the projects he spoke about were Korea?s longest railway tunnel, the Solahn Tunnel and the Inje Tunnel, a freeway tunnel that is 11.94 km (7.4 miles) long.

Jan 1, 2012

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