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By Dodd SF

Valuation of mining companies and their underlying assets prepared by brokers' analysts are, by necessity, approximations. The reliability of the valuations is entirely proportional to the quality of available data, the reliability of forecasts and the nature of underlying commodity price assumptions. The latter is perhaps the greatest single cause of gross variations in company and asset earnings estimates and- valuations. Assumptions are often necessary regarding commodity price achievement based on commodity hedge positions. Public disclosure from listed companies provides a sound base from which to project earnings, cashflows and balance sheets. The uncommon disclosure of projected production and cost schedules often reduces the reliability of future estimates. The application of reserve and resource estimates is contentious with practitioners applying differing weightings to importance of resources in estimating mine lives (and therefore cashflow streams). Valuation methods applied in equity markets usually focus on relative value and the identification of pricing anomalies. The commonest ""rules of thumb"" applied in the valuation of mining companies (and therefore their underlying assets) is with the use of year specific price/earnings (P/E) and price/cashflow (P/CF) ratios, with low multiples suggesting undervalued assets, high multiples overvalued situations (but these rules can often be clouded by market expectations of underlying commodity price movements). Another simply applied valuation tool is to examine the examine the value placed on reserves and resources by the market. Inexpensive gold in the ground (expressed as $ of market capitalisation per ounce of reserves or resources) might indicate a buying opportunity, but the market does discount the value of gold in the ground prior to mine development and where development risk is perceived.

Jan 1, 1994

Jan 1, 2000

By C. E. Brechtel

This project describes the design and testing of large face ventilation systems for oil shale mining. A design data base was generated by reviewing general industry practice, oil shale industry planning, and technical literature. Conceptual designs for seven different systems were developed and evaluated for suitability. A large, free-standing, jet fan and reversible fan with rigid duct were selected for fabrication and testing. The two systems were field tested in a dead-end heading 55 ft wide by 30 ft high and 320 ft long. System performance was optimized using measurements of air flow direction and air velocity. Total system performance was then measured using SF6 tracer gas released to simulate blast fumes, hot diesel exhaust, methane layering and methane from a blasted muckpile. Field testing indicated that both systems delivered similar performance. The jet fan offered some clear advantages because of its mobility, ease of oper-ation and lower power requirement. It also offered some functional advantages in ventilating for methane because of it high average velocity.

Jan 1, 1985

By F. L. Thompson

MAN has been using lubricants of one type or another for at least four thousand years, and probably for a much longer period. We have learned from the inner wall of the tomb of Tehuti-Hetep, on which is a decoration illustrating the method of moving a great stone statue, that as early as 1650 B.C. lubricants were used to facilitate the movement of heavy loads. The Egyptians had available nearly every animal oil and fat, as well as at least thirteen vegetable oils, of our time, all used for food products and in the arts. Examination of the deposit on the axle of a chariot from an Egyptian tomb of 1400 B.C. showed it to consist of animal fat, quartz, sand, iron, and compounds of aluminium and lime-indicating a manufactured lime-soap grease made with lime-soap and possibly tallow. This would not be a bad lubricant for the axles of chariots which had to travel over sandy soil in hot weather. As to the method of grease application, it is remarkable that, from the time wheels were first used in the far distant past up to the present day, no one has ever thought it necessary to design a seal to keep the lubricant in and the dirt out. While time certainly marches on, we have today, in waggons throughout the world, exactly the same form of lubrication as was used in the earliest chariots. From the early days of the chariot until shortly before 1800 A.D. (when the steam engine was introduced), the main heavy equipment required for mining purposes, for machines of war, etc., was made of wood. The bearings were rough, but usually they had metal in the lower half. Light machinery was made of bronze, brass, or iron. Large clearances and poor alignment, plus the fact that speeds were much below present-day demands, combined to provide conditions that were quite satisfactorily met by the lubricants available. These were often produced locally by the machine operator. In northern countries, lard oil, prepared from the fat of hogs, was the universal lubricant employed in machine shop, as a belt and leather dressing, and for cutting operations. Sperm oils were used for light machinery, whereas beef and mutton tallow were more generally employed for the largest bearings. For the early steam cylinders, a slug of heated beef tallow was injected wherever the cylinders gruntingly complained of a lack of lubricant. Southern countries, however, resorted to the use of vegetable oils-olive, cocoanut, etc.

Jan 1, 1940

By M. N. Brodie

"The ability to adjust the speed of a SAG mill offers benefits to the process and to equipment maintenance. It can be provided with some slight effect on availability ranging from somewhat enhanced to somewhat reduced, depending on the particular equipment that is used. Several techniques have been developed for monitoring the magnitude of the contained charge, and several algorithms have been used to control mill feed rate and mill speed. The various benefits and the means by which they can be realized are examined and compared. Reasons for Variable SpeedProcess RequirementsThe recovery of minerals from ore is dependent on particle size and residence time in process. Separation in a given plant is most efficient at a particular rate and a particular size (e.g., 80% minus 200 mesh). If the particle size increases, less mineral will be liberated. If the particle size is significantly reduced, the process of choice may not be able to effect separation, and power, media, and maintenance costs would be increased.If a SAG mill-ball mill combination delivers the desired throughput at the correct size for efficient separation when processing ore of the design hardness, some adjustment must be made to maintain this condition when the ore changes. The processing of ore softer than design will result in overgrinding, unless:• the throughput is increased inversely to the change in hardness which lowers recovery by overloading the separation facilities;• or the SAG mill feed rate remains constant, but the speed is reduced to feed coarser material to the ball mill for finish grinding to the desired size.There is also the effect of changing milldiameter to consider. A nominal 36 ft diameter SAG mill will have an effective diameter of 35 ft with new liners and 35 ft 6 in. with worn liners. A mill designed to operate at 0.76 p.u. (per unit) of critical speed with new liners (9.84 rpm) will be changed to 0.765 p.u. with worn liners. If 0.76 p.u. is the desired value, the mill speed should be reduced to 9.77 rpm."

Jan 1, 2003

By Gerry Roblesky

"IntroductionWestar Mining Ltd. is Canada's largest producer of metallurgical coal for the export market. It currently operates two mines, the Balmer Mine at Sparwood, British Columbia producing 6 000 000 tonnes per year and the Greenhills operation at Elkford, producing 2 100000 tonnes per year. Approximately 1600 people are employed between the two mines which operate independently but share common administrative services.Like most mining companies in Canada over the past three or four years, Westar has faced rising production costs along with flat or declining prices and demand for its products. In order to survive under these conditions it has become necessary to strive for decreased costs in any way possible. Over the past two years there has been a widespread introduction of microcomputers across the company. In order to satisfy increasing demand for accurate and pertinent information while at the same time increasing productivity, the microcomputer has become an invaluable tool.This paper describes some of the problems faced by a mine maintenance department in this operating climate and how they were solved with the help of a microcomputer. It also describes some of the problems that may be encountered both with equipment and people and recommends some ways that these might be minimized or avoided. Finally, an assessment of whether or not the move to microcomputers was a current and economical one, and a brief description of future plans and projects is given.The Maintenance OrganizationIn order to appreciate fully the role that microcomputers are playing within the Maintenance Department at Westar Mining, a little background on the organization and operating philosophies is in order. Most of the comments apply directly to the Balmer operations, however, the Greenhills operation is similar in concept.The mine maintenance organization operates on a fleet based concept with these departments reporting to the maintenance superintendent: haulage trucks, shovels and drills, loaders and Caterpillar equipment, maintenance services, and rebuild services.Each of these departments is headed by an assistant superintendent and is responsible for all maintenance on the equipment on the respective fleet. Shift foreman, planners, specialists and clerical staff are assigned to each fleet. A central engineering and administrative group consisting of one engineer and three clerical positions is responsible for maintenance engineering and centralized administrative services"

Jan 1, 1988

By John Fritz

MEMBERS of the American engineering societies who were in London and Paris during the last days of. June and early July were present at many interesting gatherings. The official delegates of the Founder societies were the specially honored guests of the foreign engineering societies, but other American engineers took part in the meetings. The members of the delegation were: Arthur S. Dwight, Charles F. Rand, William Kelly, representing A. I. M. E.; Ambrose Swasey (general chairman of deputation), Ira N. Hollis, Jesse M. Smith, representing A. S. M. E.; F. B. Jewett, A. E. Kennelly, G. O. Squier, representing A. I. E. E.; Charles T. Main, Robert A. Cummings, John R. Freeman, D. C. Henny, representing A. S. C. E.

Jan 1, 1921

By Jean-Louis Robert

Field work inaugurated in 1962 in the townships of Lemieux and Lesseps, in the Gaspe Peninsula of Quebec, has permitted the author to delineate the lithologic units of the area, to elucidate a few stratigraphic problems and to outline several zones of alteration. Certain features of these zones and the numerous mineralized showings in the area merit the attention of prospectors and exploration companies.

Jan 1, 1966

By R. W. Stahl

Coal mining has been revolutionized by the continuous miner. This machine has replaced, or has combined into 1, 3 former operations: Cutting, blasting, and loading. During the 25-year period before this machine was introduced, advances had been made in transportation, but the actual "coal getting" remained virtually the same. As frequently occurs, the multiple-purpose continuous miner introduced a new hazard--more rapid liberation of methane. The coal output formerly obtained from 10 to 20 working places might now be obtained from 1. It is true that circulation of air was generally increased; but the bulk of this machine virtually precludes continuous flow of air across the face, where gas may accumulate. Apprehension about this possible hazard led the Bureau of Mines to test face atmospheres during operation; and Report of Investigations 5288, Methane Buildup During Cutting and Continuous Mining Operations (published in 1956), presents proof that real danger may be present in many otherwise well ventilated mines.

Jan 1, 1958

By B Murphy, S O’Connell, J L. Heath

In the 1989 best-seller The 7 Habits of Highly Effective People, the author, Stephen Covey, highlights the importance of maintaining not only ‘production’, but also, ‘production capacity’. When operating a modern flotation concentrator, production is often measured in terms of concentrate tonnage, tonnes milled and plant utilisation. There are very few metrics that focus directly on flotation equipment condition in relation to performance, which is analogous to Covey’s production capacity principal. It is evident on many mine sites that flotation equipment condition is not monitored on a proactive basis and that the prevailing culture is to wait for a failure, before addressing an issue.This paper discusses examples of how poor equipment condition can lead to production loss through poor metallurgical performance. Actual examples are given where these problems have occurred in operating plants. An outline is provided on how metallurgical and maintenance departments can work together to protect production capacity and gain more from existing equipment.CITATION:Murphy, B, O’Connell, S and Heath, J L, 2014. Maximising value through maintaining your flotation equipment, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 71–76 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

"In addition to outstanding technical sessions and networking opportunities, the SME Annual Conference and Expo offers attendees a chance to see the latest and greatest technology that the industry has to offer. The 2017 SME Annual Conference and Expo was no exception as 575 companies filled 756 booths from Feb. 19-22 in Denver, CO. The following is a look at some of the vendors that were on hand.AIL MiningThe Edge, featured by AIL Mining at the 2017 SME exhibit, is a four-flange structural liner designed to be an alternative to structural plate’s traditional lapped seams and to help mine operators build more efficiently and safely. It is ideal for creating underground structures, such as mine shafts, ventilation raises and escape ways. The Edge is available on SuperCor structural steel plate — 10 times stiffer and five times stronger than traditional steel liner plate. It facilitates curved structures, both horizontal and vertical, and eliminates the need for ring beams. It is ideal for remote sites. For added safety, structures can be assembled from the inside, and the leak-resistant structures can be dismantled and removed easily. Brackets can be attached to mine shafts or vent raises to support Alimak rails or climbers. Similarly, brackets or hangers can be attached to drifts or tunnels to support mine air, water or electrical utility services.ArcadisMining companies spent nearly $12 billion on water infrastructure worldwide in 2014, reflecting the industry’s heightened concern about environmental issues and social, regulatory and political risks.So, with an increasing focus on water reuse and recycling, mining companies must have effective water management plans that include sustainable solutions. Also, many water quality issues fall under both state and federal regulatory jurisdictions. To solve these problems, Arcadis provides comprehensive ground- and surfacewater technical support in a complex hydrogeologic setting. It can characterize the nature and extent of mine-related constituents in ground water and surface water, as well as the complex interactions between the two waters, and prepare the operational permits needed by mine and tailings facilities. As an example, Arcadis constructed a hydrogeologic and geochemical conceptual site model that improved site understanding for a molybdenum mine in the western United States that spanned several watersheds. It also provided technical support for permitting and compliance issues, allowing the mine to return to active production."

Jan 5, 2017

By G. S. Rice, H. P. Greenwald, H. C. Howarth

"""Rock-dust barriers""5 as they are termed in this country, are for the purpose of confining a coal-dust mine explosion to the limited area in which it originates. These barriers were first tested in 1910-1911, with favorable results under the conditions of test, at the French official gallery which was then at Lieven, Department of Pas-de-Calais. Shortly afterwards the Bureau of Mines in the course of its investigation of all practical explosion-prevention methods tried barriers in the Experimental Mine near Bruceton, using the primary form of simple fixed cross shelves 20 inches wide extending over the passageway and laden with rock-dust. The Bureau termed them “Taffanel barriers"" in honor of the director of the Lieven testing station. The trials were made in conjunction with tests of explosibility of different coal-dusts.Experience showed that although the principle of barriers had merit when they were used for secondary defence, the primary form was uncertain in effectiveness. This led the senior author to design mechanically discharging barriers to be operated by the compression air waves which precede the flame of an explosion. For the better understanding of the principal involved, it is pointed out that the advance air waves are what make a coal-dust explosion possible by stirring up the coal-dust from the walls and floor of the passageway. If a barrier can throw inert dust into the air to form a cloud as dense or denser than that formed by the coal-dust, it will neutralize the explosiveness of the coal-dust, and the flame of the explosion will be extinguished. When the flame ceases, the pressure dies away in a short distance if the 'area that had been traversed by the explosion is not large."

Jan 1, 1930

By Walter Curlook

An atmospheric acid leaching process for leaching nickel and cobalt from highly-serpentinized saprolitic fractions of nickel laterite deposits has been developed and patented [I]. The process involves leaching the highly-serpentinized saprolitic portion of the nickel laterite ore profile in strong sulphuric acid solutions at atmospheric pressure and temperatures between 80°C and 100°C, essentially autogenously, to extract over 85% of its contained nickel content and a large proportion of its cobalt content after leaching times of about one hour. The amount of sulphuric acid used in the leaching process is between 80% and 100% by weight of the finely ground highly-serpentinized saprolite ore on a dry weight basis. The metal values are recovered as intermediate products. Key words: Atmospheric Leaching; Nickel Oxide Ores; Laterites

Jan 1, 2004

By David, Levinger

THESE observations of the metal-working industries of Europe are based on a three months' tour of eight countries of Europe, in which 75 industrial establishments were visited in England, France, Germany, Belgium, Holland, Italy, Austria and Switzerland during the summer of 1927. Since the Western Electric Co. is a large consumer of copper and brass, these industries were of particular interest and differences in practices were of keen interest to us.

Jan 1, 1928

By PROCEEDINGS OF MEETINGS

THE opening session of the Institute was held at Hazle Hall, Tuesday evening, October 27th, with a large attendance of members. President Raymond called the Institute to order, and after a few introductory remarks, introduced Mr. I. Lowthian Bell, President of the Iron and Steel Institute of Great Britain, and Honorary Member of the American Institute of Mining Engineers. Mr. Bell was received with great applause, and made his acknowledgments in a brief speech, of which the following is the substance: He desired to thank the Institute personally for the honor conferred upon him in his election to membership, and also for the invitation extended last year to the body of which he was President. The difficulty felt by many members of the Iron and Steel Institute, of leaving for a long journey the works of which they had charge, aggravated by special industrial troubles at the time of the invitation, had obliged them to conclude that it could not then be accepted in a fitting manner. The iron manufacture of this country is a subject of great interest to Englishmen, who look with pride upon the achievements on this side the water of the descendants of a common ancestry. His own reception in this country had far surpassed in cordiality even the well-grounded anticipations he had formed from the assurances of the President and other friends. Notwithstanding the flattering manner in which his friend, in introducing him to the Institute, had spoken of his contributions to the science of iron metallurgy, he could not take to himself alone the significance of this welcome. He knew it was a recognition of the services rendered by the body which he had the honor to represent; and he was glad to see present a member of that body, Mr. Thomas Whitwell, who had fortunately been able to make the journey at this time, and whom he had had the pleasure of meeting on the shores of Lake Champlain. He had been requested to say something of his impressions of the American iron industry. It was not easy to digest so soon the vast

Jan 1, 1875

By Gary Brierley, Lok Home

"The majority of tunnels for civil engineering applications are now being constructed using some form of mechanical excavation. Beginning in the 1960s with rock tunnel boring machines (TBM), the tunneling industry has introduced both earth pressure balance (EPB) and slurry pressure balance (SPB) soil machines; mixed soil and rock machines and a variety of different mechanical devices for the construction of small diameter tunnels. Over time, these machines have become more powerful and more adaptable to a wider variety of ground conditions; so much so that tunnels are now being constructed in ground conditions and in the vicinity of third-party impacts that would have been considered beyond the state of the art just 10 years ago. Figure 1 is an example of a mixed ground crossover TBM used successfully at Mexico City’s Túnel Emisor Poniente II.All of the above is highly advantageous for the tunneling industry, but it has also placed a much higher level of risk on the performance characteristics of the tunneling machines, on the contractors operating those TBMs and on the manufacturers of those machines. Most of the risks for a tunneling project are associated with creating the space inside of which the finished facility will be constructed. In order to create that space, the tunnel contractor must make many decisions about the best way to excavate the ground, the best way to control the ground at the face of excavation and the preferred method for supporting the ground around the tunnel in a manner that is safe for the workers and stable with respect to all of the overlying and adjacent existing structures. If it is proposed to use some form of TBM in order to build the tunnel, then the TBM becomes central to all three of these activities and becomes an integral part of managing the risks associated with these activities."

Jan 9, 2018

By Grover Wallace

At is important for today?s mining executives and leaders not to underestimate the fact that, while the recent downturn in the economy did take its toll on balance sheets and productivity, factors such as emerging countries, aging workforces, globalization and individual knowledge growth did not lay dormant while the economy was in a lull. It is key for mining leaders to be proactive in their talent strategies. Successful mining companies are developing a clear, concise and communicated strategy and placing a high priority on recruiting the right talent in global markets that parallels their business strategy. They are focused on placing the right people in the right jobs.

Jan 1, 2011

By Joseph M. Pugliese

The Bureau of Mines through its contract research program recently analyzed the mining and environmental requirements in the premining stage for copper mining in the northern highland of Wisconsin. The Critical-Path-Method (CPM) was used in this research. However, a step-by-step derivation of the CPM Diagram was beyond the scope of this effort. The Bureau of Mines objective now is to show, step by step, how the original hand-computed CPM Diagram was constructed. The streamlining (restructuring) of this diagram from the original effort is also summarized. The critical path time (longest time) through the original CPM Diagram was 25.12 yr, excluding public liaison effort. This diagram showed the involvement of the regulatory agency, mining applicant and public in the premining stage. Analysis of this diagram produced a streamlined version which reduced the critical path time by nearly 7 yr. The CPM construction methodology offered here may be applied to mine planning for any mining operation.

Jan 1, 1983

The content of the book covers: (1) The theory of the Eötvös torsion balance; derivation of the working formulas; description of the instrument; method of observation; relation of the magnitudes observed to the lines of force and the level surfaces of gravity; corrections or normal effects, near and distance terrane; subterranean effects; effects due to certain mathematical bodies. (2) Notes on the practical employment of the Eötvös torsion balance; initial testing of the instrument and of accessories; hints on planning the survey; work at the station site; office computation and plotting of results; the interpretation of the results: (3) A description of the instrument and instructions for its manipulation. This book was the best discussion in English on the theory and use of the Eötvös torsion balance and is surpassed only by a later paper by the same authors that covers much of the same ground. The book is suitable for a textbook for beginners, and advanced students will find it of use. It should be available as a reference book in all geological libraries and in all torsion balance department offices.

Jan 1, 1929

By O. Lundhede

Today, systems and machinery usually are designed to meet only one specific customer?s requirements. One reason for this is that underground automation and smart functions are often developed tightly together with a customer. This is natural, since risk and cost can be shared between the customer and the supplier. Nevertheless, when the automation product develops and the market increase this will cause problems: The highly specialized products will not fulfill the next customer?s demands. In order to cope with this problem, Atlas Copco works towards a common platform. Instead of designing solutions for specific customers, we will lift the abstraction and focus on standardized modules. These modules, or function blocks, can then be combined in a large variety of configurations. The benefits of combining modules into products are, for example: increased flexibility when options are available for many machines; easier commissioning and maintenance since less different spare parts and tools are needed; and easier operation since the user interfaces have a similar look and feel. This paper will present the ongoing work towards standardized modules. We will discuss how our Rig Control System (RCS) allows for modular design at Atlas Copco. RCS has number of standardized modules that are used in different surface and underground mining and tunneling equipment. These modules are also used for optional products such as, drilling, radio-remote control, and telematics systems.

Aug 1, 2013