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This paper addresses the valuation and development timing of an undeveloped mineral project. Traditional analysis has us developing the project immediately if its net present value (NPV) is positive. Option pricing theory finds that it is better to wait until the NPV of the property is significantly greater than zero before developing. Alternatively, when evaluating the development timing decision, we must calculate NPV using a higher "timing-adjusted" discount rate, and develop the property only if its NPV using this timing-adjusted discount rate is greater than zero. This paper uses option pricing ideas to convert this development timing advice into a more concrete and user-friendly decision rule: develop the project when its "development-timing NPV" is positive, this development-timing NPV being calculated using the normal discount rate.

Jan 1, 1997

By Daniel Lum

The limestone resources of Hawaii are derived chiefly from emerged fringing coral reef and coastal dune deposits of Pleistocene age. These deposits are most abundant on the island of Oahu and other older islands and least abundant on the island of Hawaii, the youngest. Their origin and depositional environment were influenced by glacio-eustatic rising and falling of sea levels during Pleistocene time. Dredged reef limestone deposits from two deep-water harbor projects have provided additional resources. Limestone uses include cement and lime manufacturing, concrete sand and aggregate, mad base material, beach sand replenishment, agricultural lime and golf course construction.

Jan 1, 1982

By B. J. Timmons

Depending upon which of two letters describing the theme of the session I chose to honor, the subject choices because either one or three. They were: "Applied Research and Exploration and Discovery" or "Applied Research in Exploration and Discovery." The final choice; to partially ignore both of them. That minor difference in meaning may be appropriate here, inasmuch as very minor research/exploration differences may also have profound impacts on discovery. To further set the stage, I consider myself an Industrial Minerals geologist, and more specifically primarily associated with basic construction materials crushed stone and sand & gravel. My remarks will apply primarily to those materials. Therefore, when the discussion instructions included emphasis on beneficial aspects (to name a few): "drill target definition; elimination of ore potential; ore forming environments; alteration studies, and isotope analysis," problems became apparent. Evidently, and although this was a form letter, the drafters of that letter had no idea what was involved in research for a construction materials source. My task may be great.

Jan 1, 1995

By H. L. Bourne

The sand dunes which line the east shore of Lake Michigan resulted after the last, or Wisconsin, glacial period in Michigan. Melt-water streams carried vast quantities of glacial debris to the near shore areas of predecessors to Lake Michigan. As the lake levels receded, these vast quantities of sand were exposed to the prevailing westerly winds, which was the last major process that acted upon the sand and resulted in the formation of the dunes. 1 These dunes are one of the significant natural resources within the state. Michigan dune sands supply about 90% of the foundry sand used in the automotive industry, and 40% of the foundry sand used 2 for all purposes within the United States. The deposits owe their importance to the following factors: grain size distribution, grain shape, mineral composition and location with respect to the foundry sand market. In spite of their economic significance these I deposits are in jeopardy through legislative preemption.

Jan 1, 1975

By Clément F. Bernier

One of the chief sources of the world's supply of asbestos lies in a belt of ultrabasic rocks which runs northeastward through an area called the Eastern Townships, south of the St. Lawrence River in the Province of Québec. The productive portion of this belt extends from the town of Asbestos in the south, for a distance of some 9,5 km to beyond the village of East-Broughton. The first discovery of asbestos in this region was made in 1874. Only crude fibre was produced until 1888 when the first mill was erected near the town of Black Lake. Since the inception of the industry, almost 100 years ago, no less than 100 different compa¬nies have been formed and 46 different mines have been operated. There are presently 5 active companies in the area providing direct employment for 4100 workers, down from 6000 during the seventies.

Jan 1, 1984

By Nikhil Dhawan, Amit Barnwal

The present study reports a processing route to recover metals from integrated circuits of discarded random access memory (RAM) units containing ~ 66% printed circuit boards and ~ 33% integrated circuits. The integrated circuits are manually separated, grounded, classified, and subjected to water fluidization for the effective separation of metals. The significant separation was achieved via water fluidization, and the underflow fraction was magnetically separated. The magnetic fraction was thermally exposed in a muffle furnace, and the process optimization was carried out using a Box-Behnken statistical design. The detailed characterization at subsequent steps significantly aids the understanding of metal-plastic separation and enrichment. A concentrate containing 97% metals (Fe-59%, Ni-9.5%, Cu-7.7%, Sn-13.4%, Pb-5.6%, Ag-1.6%) with 96 wt% recovery can be recovered from discarded IC units. The process pursued is simple, adaptable, and environment-friendly, and the product can be used in conventional smelters.

Jun 23, 2020

By Edward R. Mueller

As an alternative to a million dollar, sensor based, computer dispatching system, Cyprus Pima Mining Company has installed a home¬made analog computer. The device is used in conjunction with a standard radio-dispatching system; it is inexpensive and very simple to build and operate. It enables the dispatcher to make near opti¬mum dispatching decisions and to identify all off schedule haulage trucks. Since installation, Cyprus Pima has experienced significant increases in pit productivity.

Jan 1, 1977

By CADEN VITTI, Barbara J. Arnold

Mine tailings, the byproduct of mining and mineral processing, are increasingly mass produced as a result of increased demand for metals and minerals as well as the advancement in technology that allows for the exploitation of lower-grade ores. Lower grades can increase the volume of tailings that may contain new gangue minerals that should be evaluated for the presence of critical minerals and other valuable metals. The practice of reprocessing, while relatively new, is crucial to reducing environmental damages, obtaining valuable critical minerals from waste, and contributing to more sustainable repurposing and disposal methods. With the increase in tailings dam failures in recent years, there is a large motivating factor in remining and removing the potential hazard to benefit the safety of potentially impacted communities. In analyzing the perspectives of various domestic and international studies, this literature review will determine the feasibility of reprocessing and reutilizing mine tailings waste for a more sustainable future while exploring current practices that have benefitted ecosystems and communities.

Jan 1, 2022

By J. O. Marsden, C. Green

In 2003, a high-temperature pressure leaching circuit to treat copper sulfide concentrates was commissioned at the copper/molybdenum operation at Bagdad, AZ. In late 2007, a medium-temperature pressure leaching circuit was commissioned at the Morenci mine in Arizona. The Morenci circuit was shut down in mid-2008, following a fire in the autoclave circuit. The onset of the global financial crisis in late 2008 resulted in significant changes to the operating profile in the Southwestern United States with respect to concentrates production, concentrates treatment, acid production and acid consumption. As a result of these changes, the Morenci concentrator was shut down, and the pressure leaching circuit remained offline. In late 2014, the increasing acid requirements in the Southwestern United States prompted a reevaluation of the Morenci concentrate leaching facilities. As a result, the pressure leaching circuit was restarted in high-temperature (200 °C) mode in May 2015 and has operated successfully for three years since recommissioning. This paper describes the current pressure leaching circuit configuration and the factors leading to the successful application of copper sulfide concentrate leaching at this location.

By S. E. Restrepo

To innovate and make the operation sustainable it is necessary to identify the externalities and impacts completely. This paper presents the results of a proposed methodology to make circular economy initiatives viable in mining operations using these aspects: • Economic, safety, and environmental (HSE) risk analysis • Technology observation • Mineralogical characterization • Identification of potential waste uses • Use of government economic benefits The results of the project can be summarized as follows: • Implementation of new technologies in the aggregates process, • efficient use of water, • the valorization of waste to convert it into a by-product, • and access to tax benefits for investment savings.

Mar 2, 2022

By R. S. Kalyoncu

Materials demands by the advancing process technologies, desire for higher performance and durability, and improved efficiency in combustion processes, such as applications in heat engines, heat exchanges, and batteries have added to the driving force fueling R&D efforts for the development of components with the combined characteristics of metals and non-metals. These new materials involve refined and specialized microstructures that can lead to improvements in the performance characteristics and durability new technological applications require. Fabrication and sintering methods, once believed to be sufficient, alone, have been found to be inadequate in the manufacture of such advanced components. Realization of the importance of the starting powders has led to efforts to produce materials of ultrahigh purity and ultrafine particle size with very narrow particle size distributions. Such powder characteristics are essential for the fabrication of components with high density and with the desired mechanical, electrical, or magnetic properties called for by the specific application. Novel ultrafine and ultrapure powder preparation techniques are discussed and effects of impurities on the powder characteristics, particle size and morphology, sintering behavior and properties of the finished product are elucidated.

Jan 1, 1992

By R. J. Roman

The "mass balance" is unquestionably the most common class of problems for the process engineer'. Closely related, mathematically, is the "heat balance". Every laboratory test requires a mass balance to describe the results. Mass balance calculations can be subdivided into several sub-categories based on whether the results are time dependant or not and depending on whether the input data are measurements that contain errors or are hypothetical values with no errors. Time dependent mass balances are dynamic process simulations and in addition to the conservation of mass constraints require kinetic data input. They are one step beyond simple mass balances.

Jan 1, 1992

By T. Martinez Patino

Precious metals have been sought by man through time. The search has been the cause of many historic events as well as the founding of the famous Mexican, Minion centers of Durango, Guanajuato, Zacatecas and others. Bacis, a silver - cold deposit in the State of Durango was one of the lesser known centers established during Spanish colonial times. During the past year, metal prices have suffered a substantial decline, resulting in the closure of many mines. Through astute exploration, development and exploitation of the mine, the effect of the low prices has been offset and the mine is surviving these hard times.

Jan 1, 1994

By R. H. Lambeth

Disposal of mine tailings in "waters of the United States" is presently prohibited even though case studies indicate that the practice may be environmentally viable. To simulate disposal in the natural environment, nine containers of tailings and sediment were instrumented and placed on the ocean floor near Juneau, AK as were ninety-six biosample containers. Pore water concentrations of five metals were determined, and biota populations were characterized for both materials. After 500 days of exposure there were no statistical macro scale differences between tailings and sediment biota populations or Cu, Pb, and Zn pore water concentrations. Tailings released slightly more Fe than sediment, but sediment released significantly more Mn than tailings. Disposal of mine tailings in marine waters may be environmentally safe.

Jan 1, 1998

By Ray W. Ballmer

Historically, Bingham is a rail pit, starting with steam locomotives in 1906 and converting to electric locomotives in 1923. Ore production was maintained through an effective utilization of available rail equipment. From time to time as it became necessary to deepen the pit and as stripping ratios increased, various studies were made on alternate material haulage systems. Utilization of diesel locomotives, conveyor belts, and trucks have all been subjects of study, however, conversion from rail haulage utilizing electric locomotives could not be justified. Because of the gradual decline in ore grade, a program was approved in 1963 to raise ore production to 108,000 tons per day. This was designed to return copper production to the 1950 level. Attainment of this production level by expansion of the rail system had definite limitations and built-in inflexibility. Track and trolley wire relocation causes shovel down time in excess of that required for normal maintenance. Instability of the dumps and the resulting additional track maintenance increases greatly as the volume of waste material to be handled daily expands.

Jan 1, 1965

By S. R. Stine

The Cyprus Thompson Creek Mine is located at 2,286m (7500 feet) elevation in the Central Idaho mountains, 61.16 kilometers (38 miles) southwest of Challis, Idaho off State Highway 75. The Thompson Creek molybdenum deposit lies near the eastern border of the late Cretaceous Idaho Batholith within a complexly deformed sequence of Paleozoic sedimentary rocks. Molybdenum mineralization is contained in a composite biotite granodiorite-quartz monzonite stock considered to be genetically related to the Idaho Batholith intrusive event. The ore is being mined by open pit methods and delivered to the concentrator stockpile with an overland conveyor belt system. The concentrator is designed as a 22,680 metric tons (25,000 ton) per day plant at an average head grade of 0.1% Molybdenum.

Jan 1, 1986

By Robert W. Elayer

For the design of a coal mine and process plant, a comprehensive foundation of geologic information is essential. Historically, the development, collation, and use of this information for design have been costly and time consuming. With the application of a digital computer, however, the effort expended can be reduced and maximum effective use of the geologic information realized. The purpose of this paper is to demonstrate the feasibility and convenience of using a computer to Store and manipulate geologic data for use in mine and process plant design.

Jan 1, 1975

By Paul Kents

The Canadian Javelin Limited Cerro Colorado copper-porphyry deposit in Panama, possibly the largest known copper-porphyry, contains between 1350 and 450 meter elevations, drill proven and probable ore in excess of 3.0 billion tons averaging 0.65% of copper equivalent. The deposit is located in the Central Cordillera Range, straddling the Continental Divide at 1500 meter elevation. Local topography is very steep. Accessibility is difficult, all logistics made by helicopter, and only recently a 52 km. road from the Pan-American highway was completed into the area. The deposit was discovered in 1969, and since then 75 shallow exploratory holes and 98 deep holes, the deepest 1340 meters, totalling 45,000 meters have been drilled. Deep holes were drilled at the corners of a regular rectangular 150 meter grid.

Jan 1, 1975

By D. Randall Crooke, Ron R. Jorgenson

Many coal combustion products (CCPs) have historically been unsuitable for placement as mine backfill because of their physical and geochemical properties and/or regulatory status. However, innovations in paste production and transport of CCPs utilizing the high, fine particle contents of these fine-grained waste materials and their water retention colloidal properties produce a non-segregating, self-cementing material that may be environmentally suitable for placement as mine backfill. Both industry and the regulatory agencies are enthused by the possible cost reductions, both in design and construction of disposal sites, and the reduced environmental impacts of CCP realized by implementation of this new use/disposal technology.

Jan 1, 2001

By T. Wisdom, D. Romo, G. Seale, R. Jansen

Thickening remains relatively misunderstood since it is typically near the end of the process and not directly involved in metal recovery. When operating well, thickeners are ignored and left to run independently, the ‘out of sight, out of mind’ phenomena. However, when operating poorly, there is a lack of basic understanding and remedial actions to solve issues are reactionary rather than proactively addressing shortcomings. This series of papers breaks down in sequential order the stepped phases required to gain an appreciation and thorough understanding of the science behind thickeners, and key thickener components, and basic troubleshooting skills. This second paper starts with identifying the different approaches to thickener test work including static and dynamic settling tests followed by high-rate versus paste thickening. Complimentary to test work, the mechanisms surrounding coagulation and flocculation are presented and explained. The basic mechanisms for coagulation and flocculation are discussed to support the different test work approaches and provide the reader with the basic background.

Mar 2, 2022