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By Jamal Rostami, Ataollah Rahbar

"Uma Oya Multipurpose Development Project is under construction in Sri Lanka. This project involves 2 Rolled Concrete Core (RCC) Dams connected through a tunnel currently under construction by Drill and Blast method. The water is transferred from first diversion dam to the 2nd regulatory dam and from which, it will be transferred through a 14 km headrace tunnel to the top of a 650 m deep drop shaft that feeds the high pressure water to an underground powerhouse and turbine chamber for generation of 120 MW of electricity. The Headrace and Tailrace tunnels are being excavated by two 4.4 m diameter double shield TBMs. The headrace tunnel has already passed 5km milestone and is mined in hard rock, while the tailrace tunnel has been completed in rather weak and fractured ground. This paper will review the history of the project along with the geology of the site. The operation of TBM in headrace tunnel will be discussed in more detail, focusing on the challenges of excavating through very strong and abrasive quartzite and gneiss on this site, as well as reaches of tunnel in high inflow of water reaching 400 L/Sec. INTRODUCTION This paper aims to introduce the Uma Oya Multipurpose Development Project (UOMDP) as a hydro mechanical project in Sri Lanka, targeted generating hydro-electric power, transferring water for irrigation purposes and controlling seasonal devastating flood. This project lies in the south-eastern part of the central highland region of Sri Lanka (Figure 1). The main part of the project is located in the south-western part of the Badulla district in the province of Uva. The south-eastern end of the project site is in the central west of the Moneragala district (province of Uva). Bandarawela is the largest urban setting within the project area, located halfway between the upstream and the downstream ends of the planned hydropower plant and combination of dams, tunnels, and downstream facilities. The Multi-Purpose Project Of Uma Oya is planned to convey water from Uma Oya to Kirindi Oya Basin for hydroelectric energy generation includes Puhulpola RCC Dam on the Uma Oya river, Dyraaba RCC Dam on the Mahatotilla Oya river, a conveyance tunnel from Uma Oya to Mahatotilla Oya (L=3750m), a long feeder tunnel from Mahatotilla Oya to Kirindi Oya. The feeder (power) tunnel Lot consists of a headrace tunnel (L=15554m), the surge shaft (L=200m) and tank on the upstream of the vertical shaft, a vertical shaft with steel lining (L=650m), an underground powerhouse and a tailrace tunnel (L=3650m)."

Jan 1, 2016

By Isobel Yeo, Luca Cocchi, Sven Petersen, Nico Augustin, Sean Plunkett, Ingo Klaucke

Exploration for seafloor massive sulfides is currently mainly focused on investigation for active hydrothermal vent fields. However, most of the resource potential is thought to be related to inactive, large deposits that had enough time to accumulate sufficient tonnage. At the same time, ageing of these deposits will ultimately result also in burial acted by either sediments and/or volcanic deposits. We currently lack the technologies to explore for these deposits in a time- and cost-efficient manner. In the fall of 2012 we used a number of AUV-based technologies to explore and image a sulfide occurrence at the Palinuro Volcanic Complex in the Tyrrhenian Sea (Mediterranean Sea; Fig. 1) where sampling and drilling have documented a buried polymetallic barite-pyrite dominated site (Petersen et al., 2014). Sulfide mineralization is here covered by volcaniclastic and pelagic sediments and only red sediment staining and the presence of few tubeworm bushes indicated recent hydrothermal activity - black smoker venting is absent. We used AUVbased high-resolution bathymetry, sidescan sonar imaging, subbottom profiling, as well as magnetics to describe, in a quantitative way, the previously known sulfide-bearing areas as well as to successfully explore for new hydrothermal sites including large chimney structures (Figs. 2). Additionally chemical sensors (CTD, Eh, turbidity) investigated the water column for signs of hydrothermal activity in areas not previously investigated, but at the end, only weak anomalies were found in the southern part of the summit.

Sep 1, 2014

By Xiaochun Xiao, Xin Ding, Yishan Pan, DI WU, Xiangfeng Lv

Rockburst is a sudden disastrous instability of coal mass that poses a serious threat to underground exploitation of coal resources; therefore, approaches of prediction and control methods are valuable for improving mining environments. The mechanical properties and bursting liability of coal with drying, under-saturated, and saturated moisture content under uniaxial compression are investigated, and the charge induction signal during coal deformation both in the laboratory and on-site is recorded in this study. The presence of water reduces the cohesion and increases the internal stress caused by non-uniform deformation of minerals, resulting in the strength, elastic modulus, and bursting liability being weakened. The charge induction precursor main frequency band is 1–100 Hz and belongs to the very-low-frequency signal regime, and it indeed varies with the loading stage, leading to specimen failure owing to changes in amplitude and continuity of the charge pulse in both the time and frequency domains. Water inhibits the richness of charge induction and reduces the bursting liability, and the earlier the precursor appears, the more total charge emerges. Moreover, measurement results indicate that the amplitude and continuity of the charge pulse decrease over a longer time, as recorded in a coal seam with water injection, further verifying the weakening of the coal dynamic characteristics. Charge induction can be a valuable tool with which to obtain the precursors for rockburst and to aid the evaluation of water injection.

Dec 26, 2022

By Walter Steiner, Claus Becker

INTRODUCTION General Switzerland is a densely populated country in the heart of Europe. With its total surface of 41.300 km2 and a population of 6,8 million in 1986 the average population density is 163 capita / km2. The population density is lower than in Germany (245 capita/ km2) or the Netherlands (355 capita/km2). The USA have a population density of 26 capita/ km 2. However, sixty percent of the Swiss surface is covered by the Alps and another ten percent by the Jura mountains the remaining thirty percent of the surface is covered by the Swiss plateau where the majority of the population lives. The population in the inhabitated areas is thus substantially higher and may possibly reach those in major metropolitain areas. Due to the high population density in Europe in general and Switzerland in particular future traffic demands cannot be fulfilled sole by car or plane. Environmental and land-use constraints lead to the third option for growing transportation needs: High-speed rail (Bovy, 1990). Switzerland has developed its own approach to promote public transportation and in particular rail transportation: "Rail 2000" (Stalder, 1990). The system "Rail 2000" is based on a series of hubs distributed over Switzerland where easy connections can be made.

Jan 1, 1991

By S. Hamm

Elevated total dissolved solids (TDS) content in waters downstream from surface coal mines in Central Appalachia is an increasing concern, as unnaturally high TDS and/or associated specific conductivity (SC) may contribute to deteriorated stream ecosystem health. The aim of this preliminary study was to explore the efficacy of accelerated leaching as a means of minimizing long-term TDS/SC generation by problematic overburden materials. Five spoil samples were collected and leached using simulated rainwater solutions under ambient and acidified pH conditions. SC and pH were monitored during each leach cycle, and ICP-MS was used to determine how leaching conditions affected release of specific ions. This paper highlights the results of both jar and column leaching tests. Among the most significant findings was that, for certain spoil materials, SC in leach column effluent was effectively reduced when spoil was leached first with acidic rainwater followed by ambient rainwater (vs. ambient rainwater leaching alone). This suggests that accelerated leaching might aid in long-term stabilization of some materials.

Feb 23, 2014

By Dr. Peter J. Conroy

The current study is part of the U.S. Department of Energy's (DOE) on-going subsidence research program. The long-term objective of the DOE program is to develop analytical methods of subsidence prediction applicable over a broad range of geologic and mining conditions encountered in the United States. The DOE currently has several contracts in progress to develop a sound data base that can be used in the development of predictive models. Dames & Moore is currently under contract to the DOE to collect and analyze detailed subsidence and hydrologic data from a coal mine employing longwall mining methods in the Eastern Coal Province. Work under Contract No. DE-AC22-80PC 30335 began in October of 1980 and will continue through September of 1984. This paper summarizes the work that has been completed through September of 1981 and presents the results that have been achieved during this period. Technical difficulties encountered during both the installation and monitoring phases are discussed, and recommendations for future work are presented.

Jan 1, 1982

By K. Lang

A case study is provided that highlights the successful use of high efficiency electrical submersible pumps (ESPs) adapted from the oil and gas industry for a large scale, open pit mine dewatering operation. In this case, the mine is Goldcorp?s Peñasquito Mine, Peñasco and Chile Colorado open pit development areas in Zacatecas, Mexico. At the time of publication (July 2012), there were 18 vertical bedrock dewatering wells producing an average flow rate of 350 liters per second (lps) from the Peñasco and Chile Colorado development areas. Average pumping rate per well was 18 lps, with a maximum of 44 lps. The depth of wells varies from 330 m to 500m, and includes both in-pit and perimeter (ex-pit) pumping centers. A network of 50 piezometers was used to monitor the response of groundwater levels to pumping. Since dewatering operations were initiated in 2007, groundwater elevations decreased overall, from approximately 1950 m above sea level (masl) to around 1625 masl, for a total of 340 m of drawdown. The pit floor elevation was approximately 1655 masl. All of the producing wells were constructed with 16-inch boreholes, completed with 10-inch diameter blank casing and louvered screen sections and equipped with ESPs. The application of ESPs has proven to be highly effective in the case of Peñasquito?s dewatering operations. Noted advantages include the following: ? Small diameter pump allows use of smaller diameter boreholes (16 inches) and casing / screens (10 inches) reducing well drilling and construction costs ? Greater application range for flow rate and total dynamic head ? Variable speed drive systems for greater energy efficiency and flow rate optimization ? Integration of downhole instrumentation into the motor and pump assembly The advantages and benefits of using high efficiency ESPs revolutionized the dewatering program at Peñasquito open pit mine as evidenced by the number of deep vertical well installations and high dewatering flow rates and total dynamic head requirements.

Feb 27, 2013

By K. A. Stanley, N. A. Karl, D. R. Wilburn

"This summary of international mineral exploration activities for the year 2014 draws upon information from industry sources, published literature and specialists in the U.S. Geological Survey (USGS) National Minerals Information Center. The summary provides data on exploration budgets by region and mineral commodity, identifies significant mineral discoveries and areas of mineral exploration, discusses government programs affecting the mineral exploration industry and presents analyses of exploration activities performed by the mineral industry.Three types of information are reported and analyzed in this annual review of international exploration: 1) budgetary statistics expressed in U.S. current dollars provided by SNL Metals & Mining (SNL) of Charlottesville, VA; 2) regional and site-specific exploration activities that took place in 2014 as compiled by the USGS and 3) regional events that affected exploration activities including economic, social and political conditions, which were derived from published sources and discussions with USGS and industry specialists. Commodity and regional compilations are presented in this summary. Because multiple sources are used to develop these compilations, statistics may differ depending on the source and type of data that are being reported.The SNL data summarize planned company budgets for worldwide exploration activities in 2014 for 19 nonfuel mineral commodities based on company surveys. Research focused on precious metals (gold, platinum-group metals and silver), base metals (cobalt, copper, lead, molybdenum, nickel, tin and zinc), bulk commodities (iron ore, phosphate and potash), and specialty mineral commodities (diamond, lithium, niobium, rare-earth elements, tantalum and uranium). Information on uranium exploration activities was included for the first time in 2007. Data on lithium, niobium, phosphate, potash, rare-earth elements and tantalum were compiled for the first time in 2010 because of their increased significance. Since 1999, companies with exploration budgets of $100,000 and greater were included in the SNL compilations. SNL budget estimates exclude bauxite, coal and oil and gas. Exploration budget estimates for iron ore have been compiled since 2011 but reported separately. The 2014 SNL company survey is reported by SNL to cover an estimated 95 percent of the world’s nonferrous, nonfuel mineral exploration budgets. The 5 percent that is not covered includes companies that chose not to participate in the SNL survey, private companies that do not publish their budget data, and government-funded exploration activities"

Jan 1, 2014

By E. Jackson

This paper describes highlights of the Placer Dome MiniMole project - the development and testing of a robotic machine for mining narrow ore veins. A prototype hydraulically controlled robotic machine was built and tested. The machine provided a platform for testing numerous cutters in the field. Other cutters, e.g. undercutting devices, were tested in the lab. Extensive analyses were done on specific energies and cutter penetration. Three sets of quarry trials were done, then the machine was tested in an underground mine. Rock UCS values varied from 180 MPa to 230 MPa. The paper includes lessons learned and recommendations based on the project findings.

Jan 1, 2007

To preserve Washington Group International's quality of service in the mine operations area, the company has established a Supervisor Training Program to provide all levels of supervision with the required skills to meet objectives and guarantee consistent, excellent performance for each of our projects. A need developed to establish this training program internationally. The first international training session was held at the APEX San Cristóbal Mine in Bolivia. This paper discusses the program’s development, execution, results, and lessons learned with an emphasis on multicultural environments.

Jan 1, 2007

By A. D. S. Gillies

The use of refuge chambers for use in handling underground emergencies is an issue of topical relevance within the US mining industry. Chamber design is of importance to meet some new safety requirements of US federal and some state government mine regulations. A review has been undertaken of a steel mine refuge chamber design to predict what will be internal temperature within the chamber over an extended period with miners present? The design has been examined for the situation when the chamber is sited in still mine air. Spreadsheets have been developed to allow various design assumptions to be tested. The evaluation has been undertaken using thermodynamic heat transfer models with some assumptions specified to produce a model of appropriate simplicity but with adequate degree of accuracy. Under normal still air conditions it can be seen that internal chamber conditions rise quickly to often arduous conditions. There will always be quite a few assumptions necessary in complex heat transfer process evaluations. Some important refuge chamber design parameters are: ? External surface area of the chamber, its wall thickness and construction. ? Metabolic heat generated and number of persons making use of the chamber. ? The temperature of the external mine atmosphere to the chamber over the year and the influence of geothermal gradient on temperature at depth. ? The maximum internal chamber Apparent Temperature considered safe. ? The distance inside the underground mine and adjacent ventilation conditions.

Jan 1, 2012

By Monserrat Rebolledo, John L. Uhrie, Candice Simms

Jetti Resources has developed a catalyst which overcomes the passivation of primary sulfides, enhancing the heap leach recovery of copper from chalcopyrite. It is important to emphasize that heap leaching of copper sulfides, whether with or without the Jetti catalyst, is a biooxidative process. We have demonstrated the efficacy of Jetti’s technology in bioreactors, with a chalcopyrite-dominant porphyry ore. In the presence of Jetti’s technology, optimal bioleaching conditions significantly increase copper extraction by 2.6 times that of the baseline.

Feb 1, 2025

By Paul Eger

The use of wetlands to treat mine drainage has become increasingly common, particularly as more information is available on their operation and construction. However, the lifetime of each system is still, at best, an estimate. Treatment lifetime depends on the types of processes that provide the majority of the metal removal. Anaerobic systems (vertical flow systems) rely primarily on sulfate reducing bacteria, which reduce sulfate to sulfide and generate alkalinity. Metals can be precipitated as sulfides, and acidity is neutralized. These systems can remove over 90% of the metals and increase pH from around 4 to over 7. The bacteria will remain active as long as the system remains anaerobic and contains an adequate supply of sulfate and small chain organics. Although estimates of lifetime made on the total carbon in the system suggest that lifetime should exceed 20 years, data from field and laboratory studies show that the rate of sulfate reaction decreases with time, and that after several years rates decreased substantially. To maintain acceptable treatment, either additional organic material must be added or the total metal and acid load to the system would need to be reduced substantially. Aerobic systems (overland flow wetlands) can effectively remove metals from neutral mine drainage by reactions with organic material in the substrate. Over 90% of the copper and nickel have been removed in aerobic systems treating mine drainage in Minnesota. The primary removal processes in these systems include adsorption, ion exchange and complexation, which are finite; removal will cease unless new removal sites are generated. Two wetlands built in Minnesota have been successfully treating mine drainage for 12 years. At one of the wetlands, the annual production of new removal sites has been estimated to be equal to the annual metal input, and, as a result, metal removal should theoretically continue indefinitely.

Jan 1, 2005

By S. J. Schatzel, J. D. Addis, V. Gangrade, L. L. Chasko, C. A. Hollerich

A ventilation study using tracer gas was conducted at a western US coal mine. The objective of the study was to evaluate the movement of longwall face air exchanges between the face and worked-out area and to document the presence or absence of face airflow pathways between these locations. The mine operator uses a bleederless longwall ventilation system with a back return and a blowing mine ventilation system. The study was conducted on an active panel and included both underground and surface monitoring sites. The study used sulfur hexafluoride (SF6) released as a slug on the longwall face and in the front of the gob inby the face. The velocity of the tracer gas movement in the gob was 0.019 m/s (3.7 fpm). The rate of movement for the overall tracer gas slug averaged about 0.0091 m/s (1.8 fpm). A separate tracer gas test initiated with the release of SF6 into the legs of the first shield showed the existence of more than one pathway of face air in the general direction from the headgate towards the tailgate corner. Maintaining adequate ventilation air on longwall faces is important for worker safety and for the dilution of methane emitted from the face and caved gob. A more detailed characterization of longwall system air and gas movement allows a mine to better assess its ventilation design for controlling gas on the face and in the gob.

By Ana E. Bohé, Georgina De Micco, Juan P. Gaviría, FEDERICO J. POMIRO, Gastón G. Fouga

Chlorination and carbochlorination processes have industrial applications in metallurgical activity for extraction and purification of uncommon metals such as rare earth elements (REE). This study reviews the chlorination and carbochlorination reactions of light REE (LREE) oxides with chlorine considering the thermodynamic, stoichiometric, and kinetic aspects of the reactions. Lanthanides between lanthanum to gadolinium were considered as LREE, in agreement with previous literature, and the results were detailed in this review. LREE were analyzed taking into account their oxidation states and were divided into three groups accordingly. The results presented show that, although the LREE are chemically similar, their behaviors during the reactions with Cl2 and Cl2–C, and the different LREE-O–Cl compounds formed, have particularities. It was observed that gadolinium, in both thermodynamic calculations and experimental results, presents some differences, and it can be considered intermediate between light and heavy REE; i.e., reactions between LREE2O3 and Cl2(g) begin at approximately 250 °C, except for Gd2O3 that begins at 327 °C. The present work will contribute to a better understanding of the chemistry of LREE oxides and Cl2 under different conditions and the products obtained in the LREE–O––Cl2(g) and LREE–O–C–Cl2(g) systems.

Oct 15, 2021

By Rongjie Kong, Shiwei Wang, Dongjiao Gui

Metal cations have significant effects on the flotation of coal and minerals. In this study, the effects of monovalent cations ( Na+ and K+) on the flotation of low-rank coal (LRC) were investigated using flotation and particle–bubble attachment experiments and through X-ray photoelectron spectroscopy (XPS) and molecular dynamics simulations. Oleic acid (OA), methyl linoleate (ML), hexadecyltrimethylammonium chloride (CTAC), ricinoleic acid (RA), and kerosene were used as flotation collectors. The flotation experiments revealed that the flotation yields of LRC improved when OA, ML, RA, CTAC, and kerosene were used in pure deionized water. However, flotation was suppressed for these collectors in the presence of K+ and Na+ ions. In contrast, when using CTAC, the flotation yield increased in the presence of these ions. Specifically, the flotation yield increased from 41.24 to 87.03% when 2.0 kg/t CTAC was used in 10 mmol/L NaCl solution. Particle–bubble adhesion experiments and XPS revealed that the hydrophilic groups of CTAC were adsorbed on the LRC surfaces by electrostatic forces, whereas the oxygen-containing functional groups of OA, ML, and RA formed hydrogen bonds with the LRC surface in pure water. Finally, the simulating result revealed that the hydrophobic ends of the OA, ML, and RA collectors hinder the flotation of LRC by adsorbing monovalent cations, whereas the adsorption of monovalent cations on the hydrophobic end of the cationic surfactant (CTAC) promotes flotation via strong electrostatic interactions.

Jan 31, 2024

By Weiguo Xie, MARK LAPUTKA

The pyrometallurgical industry plays a vital role in producing metals for our modern life. With growing demand of metals and declining grade of mineable ore, innovations become critical for many mining companies. It is necessary to conduct a review of recent improvements to the pyrometallurgical industry on analytical measurement techniques, process and equipment improvements, and computer-based modeling/simulations. Many of those innovations tend to be applied to wider metals, and not be restricted by a specific metal. Therefore, we tried to cover the wide applications of many improvements to wider range of metals to reflect this trend. The challenge of a lack of robust measurement techniques under high-temperature conditions within a furnace hinders optimization of a pyrometallurgical process. Some future opportunities in the pyrometallurgical industry on analytical measurement techniques, computer modeling, and processes and equipment have also been outlined and discussed.

Jan 26, 2021

By Susana Bolhão Muiños, José Hipólito Monteiro, Martin Frank, James R. Hein, Henrique Garcia Pereira, Fátima Abrantes, Tracey Conrad, Luís Gaspar

In spite of all the work that has already been done on ferromanganese deposits, studies on the Atlantic Ocean occurrences are still in their infancy and there is a clear need for investigations concerning the origin, distribution, and resource potential assessment of these deposits. Nevertheless, studies already carried out on northeast Atlantic seamounts indicate the general presence of ferromanganese deposits of hydrogenetic origin, i.e. deposits formed by direct precipitation of colloidal, hydrated metal oxides that are scavenged from the water column on hard-rock substrates. The hydrogenetic precipitation promotes the enrichment of ferromanganese crusts in many trace metals, most of which are of economic interest, such as Co, Ni, Te, rare earth elements, and platinum-group elements and thus ferromanganese crusts are considered an important metal resource.

Sep 1, 2014

By Yoginder P. Chugh

Most mines are large producing 0-25 mmt annually. The coal is mine.) at depths ranging from .0-150 m 120-500 ft mining at 300 m .(,1000 ft) depth is anticipated in the future. Single and multiple seams ranging from 3-12 m 10-40 ft) in thickness are mined. Most overburden is unconsolidated and consists of sands, and sandy or silty clays. The stripping ratio (volume of overburden to volume of coal mined) varies from 3-L. The overburden and coal is mined in benches 8-12 m -(24-40ft) high; the high-wall angle is about 45 degrees. Bucket wheel and bucket chain excavators are commonly utilized for overburden and coal removal, Some of the large overburden stripping machines nave capacities. Ranging from 4400-10,000 bank cu ( 6000-14,000 BC) per hour. The overburden from the upper benches is transported around the pit using the trains and belt conveyors. It is deposited in the spoils using large stacker-conveyor systems capable of handling 2550-7300 cu m/hour (7500-10,000 cu yds/hour). The overburden from the bottom two or three benches is transported across the pit using the conveyor bridges which are computer controlled. Conveyor bridges capable of handling overburden up to 60 m (200 ft) high are currently in use; a 60 a (20e ft) high conveyor bridge has a capacity of 85 x 10 cu ( 118 x 10 cu yd) annually. The coal is loaded in the trains directly and shipped to power plants or coke oven plants.

Jan 1, 1980

By A. G. Yapo, T. W. Camm

"All-in sustaining cost is a metric used by mining companies to reflect the cost of gold mining in a consistent format useful to both investors and mining professionals. Cost reporting focused on the direct cost of mining and processing ore was summarized in the non-GAAP cash cost developed by the Gold Institute in 1996. In 2013, a group of mining companies, working with the World Gold Council, developed a more inclusive approach to reporting costs designed to solve the dilemma of showing a more comprehensive reflection of recurring costs involved in producing gold, without discouraging investors. INTRODUCTION Mining today plays a key role in the development of our civilization as a source of essential raw material and provider of essential fuels, producer of jobs, and a factor in support of the international balance of monetary payment (Camm, 2014). Professionals in mining locate, develop, design and manage ore deposits in an environmentally safe and profitable manner. As mineral deposits become increasingly scarce, new challenges face the industry. A current trend is to an increased emphasis on underground mining techniques for deeper deposits. Operations are safer today than before as companies understand better their work environment and the importance of mining responsibly. A continual challenge for the industry is accurately reflecting the costs and selling price of ore. An enduring characteristic of mining is the situation where the market typically determines the price of a commodity; the main control a company has on the bottom line is to control the cost of production. An attempt to bring light and clarity on the cost of their business will give a better idea to investors on the true profitability of the mining business. Gold producers face this struggle to accurately reflect the cost of production while also seeking to attract the interest of the investment community (Hill, 2013). In order to have a consistent format to report on their production costs, leading gold producers through their alliance inside the World Gold Council (WGC), worked on the adoption of a new cost framework: the All-in Sustaining Cost (AISC) and All-in Cost (AIC). Since 1996, the traditional cash cost reporting has focused only on the mining and processing costs incurred in mining an ounce of gold, which included the costs of goods sold (labor, energy, and consumables costs) and royalties (Table 1). But cash cost reporting ignores many important aspects, like sustaining capital, general and administrative expenses, and site rehabilitation at the end of the mine life (Whelan, 2013). The cash cost was used to attract many investors into the business. In fact the high gross margin (sales minus cash costs) has been promoted the past decades by the industry instead of the net or operating margin. As a result, even when the gold price was high, nearly $1900 per ounce in August 2011, gold producers were not reporting excessive profits in their cash flow / income statements, to the disappointment and incomprehension of investors (Milstead, 2014). The truth was simply that the other costs omitted in the traditional cash cost were reducing the apparent profits."

Jan 1, 2017