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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 Jürgen Kretschmann

The European climate and energy framework for 2030 is highlighting the reduction of man-made CO2 by increasing the use of renewable energy to mitigate climate change. In this spirit, Germany has decided to erase the coal use as an energy source by 2038 completely. Inevitably, this strategy promises a feasible, responsible, and sustainable post-mining management, because 200 years of coal mining have created numerous challenges necessary to tend to once the mining ends. Thus, the Research Institute for Post- Mining (FZN) at the TH Georg Agricola University in Bochum, Germany, has developed a holistic approach to meet these postmining challenges including further expertise present at our university. Here, the four strategic research pillars are (1) technical geoecology and hydrogeology to avoid and mitigate risks underground, (2) geomonitoring to evaluate and protect the surface, (3) industrial heritage preservation and engineering to secure and reuse brownfields such as mine sites, and (4) economic transformation planning of mining regions to enable a prosper future for generations to come. In all efforts, we aim to achieve the fundamental goals of the UN to deal with the resources of our planet responsibly and sustainably. Furthermore, we are synergizing increasingly with national and international networks in the interest of social, economic, and environmental stakeholders.

Jul 23, 2020

By R. A. Meister

The study on improving surface coat refuse disposal site inspections included surface inspections of 15 refuse disposal sites. Monthly aerial photos were taken of the sites and computer methods were used to determine elevation changes. Photogrammetric techniques that were used are described in detail. A comparison of the results of each of these inspection techniques is included. A detailed evaluation of the photogrammetric techniques was made and conclusions were drawn concerning the advantages and disadvantages of using aerial photography and photogrammetry as part of the inspection procedure. Operators' opinions of the aerial photography methods are included.

Jan 1, 1980

By Bill Dershowitz

Consider a deep gold orebody with grade of 4 g/t (0.11 oz/st). At the time of this writing, with gold prices at historic highs, it could be a good, but not great, prospect. But if it is a vein deposit, and those veins are 200 g/t (5.8 oz/st), it would be significantly more attractive if there was a way to produce directly from those veins, leaving the rest of the rock in place. [Figure 1 The red around each of the four injector wells shows areas of high pressure, where the lixiviant fluid is pumped into the rock mass, with orange and yellow indicating dissipated pressure. The black lines indicate some of the fracture pathways through which the lixiviant, with absorbed metal, flows toward the central recovery well where low pressure is indicated in blue. Lixiviant is pumped out through the recovery well. Image courtesy of Golder Associates.] There is a way to do this, in situ leach (ISL) or solution mining. It has been a viable commercial technology for more than five decades.

Jan 1, 2011

By Erika Moonin, Jim Nickerson, Claudio Cimiotti, Roberto Bono

"In response to the severe drought on the Colorado River basin and in order to preserve existing water capacity to the Las Vegas Valley, the Southern Nevada Water Authority contracted a new deep-water intake (Intake No. 3) located in Lake Mead. The current project (Contract No. 070F-01-C1) includes 5 km (3 miles) of tunnel with very difficult geological conditions and a 200- m (650-ft) deep shaft and marine works. This paper will present the current status of the design-build contract being constructed by Vegas Tunnel Constructors and the challenges and problems faced and the innovative solutions developed to handle the difficult conditions encountered during tunneling with up to 15 bars of pressure.ProjectbackgroundThe Las Vegas Valley receives the majority of its water from Lake Mead, which is located approximately 30 km (20 miles) east of the Las Vegas, NV metropolitan area. Due to the severe drought that has hit the southwest region of the United States, the water level in Lake Mead has receded from its high water level of 372 m (1,221 ft) above mean sea level (amsl) to a low of 330 m (1,076 ft) amsl in June 2015. Should the lake level continue to fall, at elevation 320 m (1,050 ft) amsl, the current water intakes will not be able to draw enough water to meet the needs of the local area. The risk of losing water capacity has prompted the construction of a new deeper intake. Not only is the new Intake No. 3 situated at a lower elevation in the lake at 262 m (860 ft) amsl, the new Intake No. 3 is also located to draw better quality (Fig. 1).Project challengesThe project has had several difficult challenges to overcome:• The work consisted of a 1.2 kt (1,300 st) structure constructed on a barge and lowered 100 m (330 ft) into Lake Mead anchored with 9,200 m3 (12,200 cu yd) of tremie concrete.• The drill-and-blast starter tunnel was impacted by three inflow events, resulting in a one-year project delay.• One of the main challenges was selecting the tunnel boring machine (TBM) and excavating the tunnel with expected hydraulic head pressure of as much as 17 bar (16 bar was the highest pressure recorded during the drive), crossing faulted areas, low rock cover and the risk of tunnel instability due to direct connection with the lake.• Extensive pre-excavation grouting with a constant head pressure ranging from 12 bar to 15 bar.• Structural repair of the cutterhead in difficult hydrogeological conditions [water inflow of approx. 800 m3/hr (4,000 gpm)].• Complete repair of the cascade sealing system for the main bearing and two replacements of the pinion bearings.• The TBM approach to the intake structure."

Jan 1, 2015

By G. St. J. Perrott, N. A. Tolch

"The measured strength of an explosive depends to a certain extent on which it is determined. An earlier investigation showed the relative propulsive strength of dynamites as determined in one type of apparatus, ballistic pendulum.4 The aim of this paper is to precept strength data on these same dynamites determined in another type of apparatus, the Trauzl lead block, and to compare the results with those of the ballistic pendulum. Trauzl lead block have been in use many years for the determination of thy strength of explosives, under moderate confinement.5 The common practice is to shoot 10 grams of explosive, in tinfoil wrapper,- and then to measure the volume of the cavity produced by the shot. The volume of the original borehole is deducted from the gross expansion and sometimes a correction is made for the expansion produced by the detonator. Dry sand is used for stemming the charge.It has been found that the expansion in Trauzl blocks is not strictly proportional to the charge. Naoum5 believed that for scientific accuracy the charge should undoubtedly be regulated to give the same average expansion for each sample tested, but for expansions of 200 to 400 cubic, centimeters the deviation from proportionality is not sufficient to give results appreciably in error.Neubner7 found that the proportionality curve is tangent to the charge-expansion curve at about 300 cubic centimeters expansion, provided that no deductions are made for the volume of the original borehole or the effect of the detonator; the total or gross expansion is proportional to the charge between expansions of 250 to 350 cubic centimeters without serious error."

Oct 1, 1930

By Dennis R. Dolinar

The National Institute for Occupational Safety and Health?s Pittsburgh Research Laboratory conducted a full-scale test of a composite polyurethane-aggregate seal in a hydrostatic chamber at the Lake Lynn Experimental Mine. This composite seal consisted of a polyurethane and limestone aggregate core that was formed between two concrete block walls. In the hydro-static chamber test, water is used to pressurize the seal. During the test, the maximum average water pressure the seal was able to withstand was 18.9 psi. Further, the seal began to yield at an average water pressure of only 17 psi. At the time of the test, the minimum seal design requirement was 20 psi under 30 CFR4 75.335 (2005). Therefore, based on this test, the seal did not meet the regulatory minimum design requirement. Uniaxial compressive tests conducted on samples from the polyurethane-aggregate core revealed that both the compressive strength and the elastic modulus of the material were much less than that for polyurethane only with a density of 10.0?12.0 lb/ft3. The significant reduction in the strength and stiffness of the polyurethane-aggregate mixture results from the formation of a soft polyurethane foam around each piece of aggregate. The formation of the soft foam seems to be caused by residual moisture from the aggregate. The moisture also caused the density of the polyurethane in the polyurethane-aggregate mixture to be less than the design requirements. The lower density of the polyurethane in the mixture, along with the formation of zones of pure polyurethane only, resulted in the overall seal density being less than the design requirements. During seal construction, steps were taken to control the moisture, but were not successful. An analysis of the seal failure showed that the calculated shear stresses at failure and the estimated shear strength of the polyurethane-aggregate mixture are fairly close. This suggests that the strength properties of the polyurethane-aggregate mixture along with a weak zone of poorly bonded aggregate controlled the maximum pressure the seal could withstand. At the time of the seal testing, the minimum design requirement was 20 psi, as specified at 30 CFR 75.335 (2005). New emergency temporary standards for seal designs were promulgated on May 22, 2007, with a minimum requirement of 50 psi under specified conditions. However, it will be shown that the evaluation of the polyurethane seal performance as designed to meet the older 20-psi criterion can be relevant to the design requirements under the new standards.

Jan 1, 2008

By AIME AIME

IF the observation of our British friends is true that Americans put new records in bigness above everything else then the 150th meeting of the Institute was not the grand success it seemed to be. Just why the attendance slumped a little this year is anyone's guess, but the favourite explanation seemed to be that half the country is planning to come to the New York World's Fair this summer and that two trips from the hinterland to the me- tropolis, with another to San Francisco of course, can hardly be justified with the present condition of the stock market and the prices of the products of our mines. Certainly, some were pre- vented from coming too by the epidemic of respiratory afflictions that was rampant in February. Unfortunately. several succumbed after they had reached New York.

Jan 1, 1939

By P. Pyykkö, E. Peuraniemi, J. Järvi, P. V. Latostenmaa, V. Törölä, S. Junnikkala

"Nickel concentrate smelting started in Harjavalta in 1959. First, flash smelting - Peirce-Smith converting route was applied, and the high-grade converter matte was further refined to nickel cathodes. In 1995 the original smelter flow sheet was simplified with the novel DON (Direct Outokumpu Nickel) technology. In Harjavalta with the DON technology, high-grade nickel matte with low iron content is produced in flash smelting furnace directly without subsequent converting stage. The metal values in the smelting slag are recovered in an electric furnace as an iron containing bottom alloy. Main special features in Boliden Harjavalta nickel smelter are smelting of high-magnesia concentrates, the high recoveries of nickel and copper, as well as those of PGM`s and cobalt.Sulfur and dust emissions to air can be seen generally as one main disadvantage of nickel smelting operations. In Harjavalta continuous improvements in environmental performance has been rewarded by minimum sulfur and dust emissions to the environment and working atmosphere. Today Boliden Harjavalta’s nickel smelter is presenting state-of-art-technology at nickel smelting.This paper describes the nickel smelter process and includes recent production and emission data. It describes features required to achieve environmental and occupational hygiene goals and compares environmental performance data to that published on other smelting operations. General description of New Boliden Way is presented and a case example of production stability project is also presented."

Jan 1, 2014

By J. O. Claassen

"A study conducted at 22 operating mines in the southern African region indicated that each mine employs about five management and improvement methods with roots in the manufacturing industry. All respondents reported the implementation of cost-saving initiatives, whereas 80% of the mines are affected by restructuring. TQM, Six Sigma, BPM, and TOC were found to be the most prevalent manufacturing management and improvement methods used. A mechanistic vs systemic evaluation of the suitability of these methods to bring about positive change in the industry suggested that complex, ever-changing mining systems are better served by a systemic flow-based approach, which is embedded in methods such as TOC, JIT, TPS, and Lean Production. These methods, however, lack industry presence, possibly because they do not effectively deal with the unique challenges associated with the mining environment. It is argued that successful mining business management and improvement depends on management’s ability to deal effectively with mining industry-specific requirements, the integration of the geologymining- plant system, and the implementation of systemic flow-based principles in all aspects of mining. IntroductionThe study aims to explore the use of manufacturing management and improvement methodologies in the southern African mining industry. Considering the unique challenges associated with mining operations, attention is given to the applicability of the most commonly used manufacturing methodologies in the tactical, operational, and strategic environments. The article endeavours to stimulate more research and debate in an unexplored field of study."

Jan 1, 2016

By P Ring, B Cooper, C Carr, G Laing

The Nova Ni-Cu-Co Operation, located in the Fraser Range of Western Australia, commenced commercial production in July 2017 only five years after discovery. Owned by Independence Group NL (IGO), the operation has successfully ramped up over an accelerated schedule and currently deploying leading technologies. This paper begins with a description of the Nova Operation, and its journey to achieve full production in such a short time frame. It includes discussions on development and production design, selection of fixed plant infrastructure, and the features challenges of running a low-pressure primary ventilation circuit. The paper also discusses key technologies that have improved overall safety for the underground workforce, and improved operational efficiencies. Investigations continue into the implementation of further technological applications for safety and productivity enhancements. This paper also discusses the findings from a study into transitioning from a diesel to an all-electric underground mining fleet, based on a review of Nova if it were to be developed today with the current EV offerings. The study indicates compelling savings will be available to future mines when considering development design, project schedule, capital outlay and operational savings, and the ‘next Nova’ is expected to be all electric.

Mar 15, 2021

By A. CHESTER BEATTY

SO much has been written about African, and particularly about Northern Rhodesian, copper during the past two years that I feel safe in assuming that you are familiar with the general background of the Rhodesian picture. Therefore, I will confine myself to certain of the high lights in connection with the history, geology, development, ore reserves, and contemplated mining methods in this relatively new and highly important copper field., Unlike most of the other great orebodies of the world, the Roan Antelope mine was not discovered by the hoof of a starving prospector's faithful burro; nor even, as its name might suggest, by a well-placed kick of protest from an antelope stumbling over a malachite outcrop. Late in 1905 an English prospector named Collier, traveling in the N'Dola district, came upon some natives using a green powder for medicinal purposes. Closer examination of the powder revealed that it ' was ground-up malachite. Collier endeavored to persuade the natives to tell him where they obtained this medicine, but' for a long time without success, because of the general feeling among the natives that they did not wish to reveal the resources of their land to the white. Finally however, - he persuaded- brie 'of-the elders to at" least take 'him part way toward, the- place where the malachite was supposed to occur. The bid took him, to a point on the lower regions of the Luanshya river and there left him with the instructions that if he followed the stream up toward its.

Jan 1, 1931

This Workshop was held at the Doubletree Inn, Seattle, Washington from September 26 to 28, 1997. Run under the auspices of the Deep Foundations Institute (DFI), it was co-funded by the newly formed Japanese Association of Micropiles (JAMP), and the Federal Highway Administration (FHWA). The Workshop was jointly organized and facilitated by Fujita Research Corporation and ECO Geosystems, Inc., with close support by Donald B. Murphy Contractors, Inc. DFI kindly consented to publish these Proceedings. As is clear from the list of attendees, 42 specially invited engineers from all aspects of micropile technology were present, representing Japanese, European and American practice. This proved to be a most friendly and interactive group of people, who freely exchanged ideas, views and close comradeship, not only during the technical sessions, but (and especially!) during the numerous social events. Perhaps the best illustration of this came in Day 2 when the attendees were divided into five competing teams, each comprising representatives from the different geographic groupings. These teams had to quickly devise solutions to two technical problems (using standard data previously provided. A team of "referees" (who also acted as "coaches") later determined the most apposite response, based on constructability design concept, cost, schedule and so on. Not only were the winning team very liberal in distributing the prize (vintage California champagne) among themselves, but the whole Workshop soon benefited from their generous division of the spoils of victory.

Jan 1, 1997

Studies of coal reserves have shown that the total augerable reserve base for the United States is estimated to be five billion tons under the current state of mining technology; the potential reserve base at 850-ft penetration is estimated at 20 billion tons. It is with the idea of improving coal recovery, a basic objective of Project Independence, that new concepts, such as modifications and improvements in current machines and development of ways to recover pillars left by current augering, are required. Unless recovery is improved, these potential reserves amount to lost coal.

Jan 1, 1975

By O. H. Metzger

This is one of a series of papers being published by the Bureau of Mines on mining areas and districts in the Western states. It describes mining and milling practices in the vicinity of Wickenburg in Maricopa and Yavapai Counties, Ariz. ACKNOWLEDGMENTS The author acknowledges the aid and cooperation of the operators of the mines visited. Reports of geologists and engineers who previously visited the area were drawn upon freely. Individual acknowledgments are made in the text.

Jan 1, 1938

By P A. Tilyard

There have been enormous changes in mineral processing in the past four decades. For example grinding mill power has increased by an order of magnitude, regrinding is done to -10 microns and flotation machines are 100 times bigger. Operating staff have unprecedented opportunities for online monitoring and performance control of mineral processing plants. Sophisticated instruments can provide a plethora of data characterising the mineralogy and surfaces of particles. Digital computers allow complex calculations on huge amounts of data including modelling and simulation of machine and plant performance. However, all these changes have not necessarily lead to better metallurgical results. An analogy can be drawn with the thoroughbred racing industry in Australia. Significant advances in scientific knowledge in animal genetics, physiology, biomechanics and nutrition applied to the business have resulted in only a two per cent reduction in winning times for the Melbourne Cup and Caulfield Cup since the 1920s. A critical look at some mineral processing metrics suggests similar failures to improve performance despite putting in more resources. In fact certain parameters such as operating times and plant start-up performance are considered to have remained static or even deteriorated. There has been an emphasis on 'process' at the expense of 'outcomes'. The industry's strength has been in finding technical (or 'hardware') solutions while its weakness has been at the people end of the business in maximising and consolidating the gains from the technologies. Some trends in plant design over these years have exacerbated the apparent deskilling of operating and technical staff. Despite unparalleled options for communications, some staff are embarrassingly uninformed about technical developments in their fields. The 'boom and bust' cycles of the industry, together with trends in tertiary education and the effects of fly-in, fly-out (FIFO) operations, raise serious questions about the sustainability of human capital in the mineral processing sector. This paper by two experienced mineral processing engineers, with contributions from other senior practitioners, reviews these trends. While there may be an element of 'the older we are, the better we were', it is an attempt to identify the issues and propose solutions.

Jan 1, 2009

By Robert H. Peters

This U.S. Bureau of Mines report identifies the types of serious accidents that occur most frequently at small underground coal mines and describes the strategies that could help prevent these accidents. A wide variety of methods for improving safety are suggested, including improvements in the design of equipment, work procedures, work schedules, safety programs, and emergency response plans, as well as techniques for diagnosing the potential hazards associated with new technologies and work procedures. Some of the papers in this volume focus on preventing specific types of mining accidents--ones associated with materials handling (primarily back injuries), equipment maintenance, improper machine guarding, and ground failure during retreat mining. Although the recommendations in this volume are heavily influenced by research performed at underground coal mines in the Appalachian coalfields, most of the papers contain advice that is equally pertinent to almost any type of mine.

Jan 1, 1994

By ALBERT F. J. BOARDEAUX

(Canal Zone Meeting, November. 191(j.) I. GENERAL INTRODUCTION. 1. Historical. ALLUVIAL gold was first discovered in Guiana in 1852, in the sands of the Arataye river; by Paulino, a Brazilian convict. During the following years, gold was found also in the rivers Orapu, Cirubé, etc. In 1873 the famous placers of the Sinnamary system were opened: Saint-Elie, Dieu-Merci, Adieu-Tat, and Couriége. This group of mines has produced nearly $10,000,000, according to official records, not including the gold that escaped the taxes. The discoverer was a mulatto named Vitalo. Except in a few rich spots, the gold was rather evenly distributed along the creeks. In one instance, gold was found in the red dirt from the slope of a hill, which, after transport to the creek, gave an amount of 150 kilograms. The placers of the Mana system, Enfin, Elysée, Pas-Trop-Tot, date from 1878, and their production has been about $5,000,000. In 1888, the Awa placers, along the boundary between the French and Dutch Guianas, on the Maroni and its tributaries, were discovered. They have yielded $12,000,000. The only industrial company,, the Dutch Guiana French Mining Co., produced in 15 years about 2,500 kg. of gold, worth $1,500,000. From 1893 dates the famous Carsewene discovery, in territory then in dispute between France and Brazil. A settlement was made recently in favor of Brazil, by arbitration of the Switzerland State Council. Carsewene is said to have pro-duced about $18,000,000 in six years (1894-1900), but not even one-fourth of the production went through French Guiana and

Nov 1, 1910

This Department handles all ores prior to blast-furnacing, the object of the operations being to mix the lead-bearing material with fiuxes, eliminate sulphur from the mixture, and produce a homogeneous sintered product which is chemically and physically suitable for treatment in the blast furnaces.During the financial year ended the 30th June, 1937, the tonnage of charge treated was 458,960 tons, containing some 183,470 tons of lead and 8,504,000 oz. of silver.The quantities of the principal components of the charge treated were as follow:-

Jan 1, 1937

By Graham Speirs

La minería del siglo XXI requiere que ingenieros, consultores y proveedores brinden apoyo a promotores, desarrolladores y operadores para lograr una extracción y procesamiento de minerales segura, eficaz y con el menor costo posible. Este artículo técnico muestra el diseño, construcción y mantenimiento de un eje vertical, con una forma más rápida, económica y productiva de izar con cables guía, buzones de aluminio y sistemas de izado diseñados con tecnología de vanguardia.

Sep 30, 2017