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By D. Harris, M. Osterberg

This paper examines the economics of acquiring mineral exploration rights by royalty-rate bidding when the royalty basis does not provide for full cost recovery. Bidding takes place prior to exploration and the documentation of actual tonnage and grade. Consequently, it increases considerably the risk to exploration capital when the fraction of cost recovered is small and the product price exhibits large fluctuations. Price and grade risk are demonstrated on a 360-Mt (400-million-st) porphyry copper deposit by Monte Carlo simulation of discounted-cash-flow analysis. Copper price is modeled as a stochastic price process, and costs are based on US Bureau of Mines cost models. When both grade and price risk are considered, the probability for a negative NPV is 0.54, given a royalty rate of 5% applied to a basis that allows the recovery of costs up to 50% of product price. Investment risk could be considerably reduced by defining the royalty basis to allow greater cost recovery. Although such a basis would require society to share in the risk, society would benefit from greater resource development.

Jan 1, 2000

By K. Oraee

Mining of copper ore and the related industries play an important role in Iran?s economy. Copper ore production in Iran accounts for 75% of the total production in the Middle East. All activities related to copper, that is, exploration, production, refinement etc are owned and managed by state owned companies. Decisions have been made to privatize all these activities. To assess the success of this privatization process, different components of the industry must be subject to economic analysis. In this paper, the cost estimation of all operations has been carried out. The total potential and attainable revenues have also been estimated using historical data available from the industry. Risk is a major factor in all mining activities and the copper industry of Iran has been subject to risk factors arising from many internal and external variables. These variables have been recognized and their effects evaluated. The effect of risk on the economic feasibility of the operations in the industry has also been analyzed.

Jan 1, 2011

By M. Kumral, E. Dilhuydy, B. Ozdemir

"In-pit crushing and conveyor (IPCC) systems have become increasingly popular in the mining industry as an alternative to truck-and-shovel systems. Deciding whether to haul waste rock by truck or IPCC represents an important gap to be investigated in semi-mobile IPCC systems. A cost analysis is presented to evaluate the feasibility of crushing and conveying waste material in IPCC systems, along with sensitivity and risk assessments through Monte Carlo simulation. Although the capital expenditure is higher, results showed waste crushing will be feasible in deep pits and over long mine life and haul distances.RÉSUMÉ La popularité des systèmes de concassage et de transport dans la fosse minière (IPCC, de l’anglais In-pit crushing and conveyor) n’a cessé de croître dans l’industrie minière ; ils constituent en effet une option intéressante de remplacement des systèmes par camions et pelles mécaniques. Le choix entre le transport des stériles par camions ou par IPCC est encore difficile à faire et devra faire l’objet d’une étude approfondie au niveau des systèmes d’IPCC semi-mobiles. Une analyse des coûts est présentée pour évaluer la faisabilité du concassage et du transport des stériles par les systèmes d’IPCC, de même que des évaluations de la sensibilité et des risques par le biais de la simulation de Monte Carlo. Si les dépenses en immobilisations s’avèrent être plus élevées, les résultats ont cependant montré que le concassage des stériles sera envisageable dans des fosses profondes ainsi que sur une longue durée de vie et de longues distances de transport. INTRODUCTIONThe mining industry is currently facing many challenges such as low commodity prices, increasing environmental concerns and regulations, lower grades, deeper mines, and greater waste-rock quantities. As a result, the profitability of mining operations has decreased, with many mines stopping or suspending operations, and many new projects being postponed. Mining companies have therefore focused on improvements and innovations to increase the cost effectiveness of operations, for example, increasing production capacity to take advantage of the economies of scale (Crowson, 2003) and decreasing the unit operation cost. Changes in production capacity force mining companies to evaluate alternative material handling systems.During the past few decades and within material handling systems, significant improvements have been made to truck performance and capacity. Consequently, operating expenditures (OPEX) associated with fuel and maintenance have risen swiftly. In a mining operation, truck hauling systems now represent 40–50% of the capital cost and approximately 45% of the OPEX (Tutton & Streck, 2009). Additionally, material transportation costs are expected to increase due to longer haul distances arising from deeper and larger mines (Fleet et al., 2015). Finally, large fluctuations in fuel prices result in high risks associated with truck OPEX. According to the United States Energy Information Administration (2015), the cost of crude oil—the largest component of the retail price of diesel fuel—increased from US$24.31/barrel in 1986 to US$46.92/barrel in 2016, peaking at US$151.72/barrel in 2008 (Macrotrends, 2016)."

Jan 1, 2017

By F. M. Clement

British Columbia, unlike the Prairie Provinces, cannot lay claim to vast prairies. She can, however, claim many valleys, uplands and plateaus that are capable of marked agricultural development. It has been said that British Columbia is not an agricultural province. This may or may not be true, but at the present time agricultural production in this province stands second only to that of forestry. The industry has advanced from a total production of 8 millions in 1908 to a total production of 60 millions in 1924, a total increase of approximately 650 per cent in 16 years. In the last 10 years production has increased from 30 millions to 60 millions. No other industry can point to such a rapid development. In 1908 British Columbia imported 12 million dollars worth of foods compared to the 8 millions which were produced at home. In 1924 she imported 20 million dollars worth of foods compared to the 60 millions worth produced at home. In addition we exported foods to the value of approximately 10 million dollars. British Columbia is therefore self-sufficing in-so-far as values ar.e concerned except for approximately 10 millions of dollars. It is not to be expected that this province will ever grow all the coarse grains that she may require: these, along with certain meats, will always be a heavy item in the imports. We are concerned at the present time more with the value of the products than with the quantities produced: in other words, with quantities only in-so-far as ? quantities improve value.

Jan 1, 1925

By Walter Voskuil

ILLINOIS supplies coal to seven states in the Upper Mississippi Valley -Illinois, Missouri, Iowa, Minnesota, Wisconsin, and portions of the Dakotas, Nebraska and Kansas. In this same area are marketed large quantities of coal from West Virginia, Kentucky, Pennsylvania, and else-where; fuel oil from the crude petroleum supplies of the Mid-Continent fields, and natural gas from Louisiana, Kansas and the Texas Panhandle. The boundaries of this "Illinois coal-market area" are determined by competition from other coal fields and from other forms of fuel. Within the area so described 90 per cent of Illinois coal is marketed. Thus in the Southwest, an abundance of fuel-oil supplies and natural gas domi-nates the market almost to the exclusion of coal. The westward move-ment of Illinois coal in Kansas, Nebraska and the Dakotas is met by an eastward flow of high-grade coals from Colorado, Wyoming and Montana. In the lake-shore counties of Minnesota and Wisconsin, the market is dominated by Appalachian coals, cheaply carried over the Great Lakes and reaching the ports of Lake Michigan and at the head of Lake Superior. Illinois coals find their largest market in the southern and western sections of these two lake states. Only small quantities of Illinois coals are shipped east of the state line. This market area is occupied entirely by the neighboring coal fields of Indiana and the Appalachian coal fields in Ohio, West Virginia, Kentucky and Pennsylvania.

Jan 1, 1936

By J. A. Hrabik

The feasibility of mining deep phosphate deposits by a borehole mining system was compared with mining by proven conventional techniques. An economic comparison of the borehole mining system with conventional dragline and bucket wheel excavator mining systems was completed at various mining depths and production rates. Hypothetical phosphate deposits, with various overburden thicknesses and reserve tonnages, were defined. Geologic conditions necessary for the application of the borehole system were identified. Discounted cash flow analyses based on derived capital and operating costs were used to generate rates of return and product prices. Borehole mining was found to be more economical where overburden thickness was 46 m (150 ft) or greater. However, at 15- and 30-m (50- and 100-ft) thicknesses, conventional surface mining was more economical. Overburden thickness has a great effect on the economic feasibility of the conventional mining systems but less effect on the economics of borehole mining. Economies of scale are only realized in conventional mining, since larger equipment is used to achieve greater production, whereas increased production from borehole mining is achieved using additional equipment units. A comparison of the environmental effects of borehole and conventional surface mining systems showed that borehole mining is environmentally more desirable.

Jan 1, 1987

Since the early 1990s it has been evident that electricity demand has outstripped investment in generation and transmission. At the same time, concerns were being expressed about the risks associated with the run down of the Maui gas field. It is axiomatic that the necessary investments firstly require a stable and supportive regulatory and fiscal environment, and secondly that such investments have long lead times. A unwillingness by successive Governments to fund the necessary infrastructure, however, lead to the profound restructuring of the electricity with the ultimate objective of transferring the investment risk from Government to the private sector. Successive power crises since 1992 result from a failure to put in place a regulatory framework necessary to provide the environment to allow the private sector to make the needed investments within the necessary timeframe. The electricity sector has now stabilised to the extent that the regulatory risks associated with generation investment have been reduced. This does not mean that risk has been eliminated, however, and both economic and environmental issues will continue to constrain investment in some power proposals particularly those in the South Island and especially any South Island coal or gas thermal proposal. This is firstly because of several very simple economic issues:  1. while the South Island may have significant coal resources it lacks a significant electricity market; 2. except for a six to ten week period in a dry year, low cost hydro will price any large-scale South Island thermal out of the market which will restrict any large scale thermal station to a dry year and/or peaking load; 3. except for a six to ten week period in a dry year, export capacity on the HVDC link to the North Island is constrained to around 964 MWe (and 482 MWe from North to South in dry years); and 4. construction of any new thermal plant in the northern half of the North Island will price any South Island thermal station out of the market. There are also significant environmental issues associated with the establishment of a large scale thermally based power station in the South Island. Because the South Island lacks any large scale economically proven gas reserves, the environmental constraints considered are those associated with coal production. A coal mine dedicated to power generation will have significant on-site impacts associated, in particular those associated with disposal of opencast overburden and visual impacts. These will, however, be partially offset by the relative remoteness of such sites to population centres. What cannot be offset, however, is the off-site impacts, in particular, CO2, SOx and NOx emissions, water disposal and acid mine drainage.

Jan 1, 2003

By Guozhu Ye, Mikael Larsson, Eric Burström, Sten Ångström

"Increased use of scrap in steelmaking including scrap use in BOF has a high economic and environmental potential in terms of increased productivity, energy saving and reduced emission of CO2. Preheating and surface cleaning of steel scrap is a concept developed by MEFOS in a four year research program funded by MISTRA, Swedish Foundation of Strategic Environmental Research. The process concept consists of four major steps: 1) Combustion of ASR or other waste fuel and composing of the gas composition. 2) Scrap heating and cleaning in a shaft where the coated zinc is removed as ZnCl2 and scrap is heated to about 600 ºC. 3) Dust separation for recovery of metal zinc. 4) Gas cleaning. This paper will describe the process concept and highlight the major results from preliminary trials around the scrap heating and cleaning shaft.IntroductionSteel is often coated to increase the corrosion resistance. Share of coated and galvanized steel in the world marked is steadily increasing. This results in increased amounts of scrap with different types of coatings. Use of galvanized scrap in EAF plant results in an EAF dust with high content of zinc ferrite and many other impurities like Pb, Hg, Cd and halide. EAF dust is classified as hazardous waste in most of the developed countries and the steel plant has to pay for external treatment for zinc recovery. For use in BOF plant this will result in a BOF dust containing typically 1-5%Zn making it impossible for recycling to the blast furnace.Different approaches for surface cleaning have been investigated in past. Dapper et al. [1] examined the possibility to evaporate Zn, Ni, Cr, Sn from coated materials using chlorine. Chlorinated rinsing of non iron oxides and metals using HCl from combustion of PVC was discussed by Fray [2]. Further studies by Tee and Fray [3-5] have been concentrated on the possibility to vaporize coatings with an air and chlorine gas mixture. The O2:Cl2 ratio in the gas mixture was found to have great importance for control of the process. To avoid the chlorination of iron, this ratio should be kept at a level of 10:1.Scrap pre-heating up to about 600 ºC is a well known method and this alone could save up to 100 kWh per ton steel. The technology has been established since many years and efficient processes were developed in the 90’s. However, no process has fully gained the expected energy savings as the large quantity of the exhaust gas has to be reheated to over 1000 ºC again to destroy the hazardous components like dioxins."

Jan 1, 2008

By Emily Chen, Randolph Kirchain, Gabrielle Gaustad

"As prices and demand for aluminum metal have increased over the past few years, secondary production has begun to outpace primary aluminum production. However, while recycling of packaging and automotive scrap has continued to increase, aerospace secondary materials remain a largely untapped resource. Shredded or co-mingled aerospace scrap has a high degree of compositional uncertainty due to the prevalence of high copper and high zinc alloy series. Although it is clear that upgrading strategies enable increased usage of aerospace scrap, it is not clear that they would be economic or efficient. Previous studies by the authors have shown that modeling techniques, specifically chance-constrained optimization, provide the ability to evaluate upgrading options in terms of potential aerospace scrap utilization and production cost. Three specific cases are analyzed: a dismantled case, a sorted case, and a shredded or co-mingled case; sensitivity analysis of resulting compositional uncertainty is also presented.IntroductionAluminum recycling has a number of key environmental and economic benefits. Secondary recovery forestalls depletion of non-renewable resources and avoids the deleterious effects of extraction and winning (albeit by substituting some effects of its own). For most metals, the latter provides strong motivation for recycling; for light metals, like aluminum, the motivation is compelling[1]. Fortunately, as prices and demand for aluminum have increased greatly over recent years, secondary production has begun to outpace primary production (Figure 1). However, while the recycling rates of many aluminum products such as used beverage cans and cars have increased over this period, aerospace secondary materials remain a comparatively untapped resource.This untapped resource for scrap aluminum is a very large one; aluminum is the primary aircraft material comprising about 80% of a planes unladen weight[2]. It is used extensively for airframes, landing gear, engine components, propellers, and interior trim. A standard Boeing 747 jumbo jet, for example, contains approximately 75,000 kilograms of aluminum[2]. At an approximate rate of 300 per year, more than 6,000 civil aircraft are forecast to arrive at end-of-life in the next 20 years, potentially creating a large aerospace scrap market[3]. Many military aircraft are already available for possible scrap use, however, most are currently in storage at air force bases around the world[4]. The underutilization of these aerospace scrap materials indicates a lack of economic end-of-life options."

Jan 1, 2008

By Elsa Olivetti, Randolph Kirchain, Gabrielle Gaustad

"As scrap usage increases, it is often necessary to “dilute” the melt with primary aluminum to ensure the finished product meets compositional specifications. Secondary raw materials, particularly postconsumer scraps, often include high levels of unwanted or “tramp” elements, such as iron and silicon in the case of aluminum. Recent literature on this issue cites several causes including inherent contamination during processing as well as ineffective segmentation at end-of-life. To address this accumulation problem, “upgrading” solutions have been developed including: dismantling of end-of-life products, spectrographic or magnetic sorting of shredded scrap, and “filtration” technologies that remove tramp elements in the melt. Although it is clear that upgrading strategies enable increased usage of scrap, it is not clear that they would be economic or efficient. This work presents a set of analytical methods, based on chance constrained optimization, to quantify the potential environmental and economic value of several scrap upgrading technologies.IntroductionAluminum recycling has a number of key environmental and economic benefits. Compared to other materials, aluminum production has one of the largest energy differences between primary and secondary production: 175 MJ/kg for primary compared to 10-20 MJ/kg for secondary[1]. With energy and cost savings in mind, many producers now have targets of increasing their usage of secondary materials[2, 3]. However, the accumulation of impurities in these recycled material streams provides a significant compositional barrier to these goals[4].A growing number of studies and literature would suggest that accumulation of unwanted elements is a growing problem, in all recycled material streams. In the case of aluminum, the list of problematic impurities is quite large, including but not limited to: Si[5, 6], Mg, Ni, Zn, Pb, Cr[7], Fe[5-7], Cu[6, 7], V, and Mn[6]. Metals recycling is a metallurgical process and is therefore governed by the laws of thermodynamics. The removal of unwanted elements in the scrap stream is dictated by the energy considerations of the melt process. Compared to many metals, aluminum has a high degree of difficulty in the removal of tramp elements, due to thermodynamic barriers. Therefore, with no simple thermodynamic solution, producers must identify strategies through-out the production process to mitigate this elemental accumulation."

Jan 1, 2008

By J. Siege1, R. S. Popielak

A computer model was used to simulate the effect of leakage through confining beds on a hypothetical in situ leach operation in an aquifer with a thin mineralized section. The simulations were used to assess economic and potential environmental implications of leakage on an in situ leach operation. Four scenarios were modeled - three representing cases with different degrees of confinement, and the fourth representing a stratified ore zone under a low degree of confinement. The model simulated the travel path and travel time of lixiviant given the hydraulic conditions prescribed in each scenario. The results show that the travel path and travel times vary by about 10% for confinement ranging from nearly impermeable (essentially no leakage) to an extremely low level (thin confinement with a permeability about equal to that of the aquifer) for isotropic aquifer conditions. The aquifer thickness contacted by the lixiviant varied from 85% to 90%. Horizontally, 55% to 60% of the aquifer was contacted. The flow paths in the stratified aquifer were reduced in the vertical direction and expanded horizontally. Forty- five percent of the aquifer thickness was contacted vertically with 88% contacted horizontally. Break- through time for lixiviant traveling at mid-depth of the aquifer increased two times when the leakage was increased from nearly zero to a value representative of thin and highly permeable confinement. Leakage affects the economics of in situ mining by (1) increasing the time required to leach out the ore, and (2) increasing the thickness of the ore zone aquifer to be restored. The potential for environmental impacts appears to be minor. In all four simulations, the lixiviant did not contact the confining strata. Restoration would be limited to cleanup of the ore zone aquifer within the thickness contacted by lixiviant and within the radius of the lixiviant that traveled farthest away from the production cell.

Jan 1, 1988

By Xue Wang, Callie Babbitt, Chelsea Bailey, Matt Ganter, Gabrielle Gaustad, Brian Landi

"Current trends, motivated by fossil fuel dependence and unprecedented greenhouse gas (GHG) emissions, show lithium-ion batteries (LIBs) emerging as a competitive energy storage technology due to higher power and energy densities compared to Pb-acid and Ni-metal hydride chemistries. These trends may be of concern, however, as environmental impacts are not well understood for either the LIB itself, or for the nanoparticles consumed or released during the battery's production, use, or end-of-life. This study combines economic modeling, dynamic material flow analysis, and fundamental material characterization methods in order to quantify some of the economic and environmental trade-offs for LIBs at their end-of-life. As expected, results show that as chemistries transition from Li-Co based cathodes to Li based Fe, Mn, and S cathodes, LIB recovery value correlates to the value of the raw materials used. These initial results aim to inform collection policies being proposed currently as well as enable future deployment of novel recycling techniques.IntroductionGlobal fossil fuel dependence and unprecedented GHG emissions have led to increasing attention on energy alternatives, for both electricity production and personal transportation. However, development of renewable energy systems is contingent on concurrent technological development of energy storage systems, primarily batteries used for power grid load-leveling, renewable energy storage, and hybrid and battery electric vehicles. In this sector, lithium-ion batteries (LIBs) are emerging as a competitive technology due to higher power and energy densities compared to lead-acid and nickelmetal hydride chemistries[!]. LIBs represent close to 20% of the total rechargeable battery market and 75% of the portable rechargeable battery market, which is the fastest growing segment of the rechargeable battery market, with a 20% global growth in 2008 [2].This surge in production ofLIBs indicates a looming waste problem; total waste from Li-ion batteries has likely grown substantially from the 500 metric tons estimated in 2003 [3]. Figure IA shows the substantial increase in world-wide lithium production that has occurred in the last several decades with batteries making up the largest share of applications (Figure lB). California and New York state legislators have attempted to proactively address this looming waste by issuing diposal bans on rechargeable batteries in their states[4, 5]. However, quantification of the costs involved in collection, transportation, and processing of these materials has not been examined in depth."

Jan 1, 2012

By R. T. Jones

Slags have been produced as by-products from pyrometallurgical processes for thousands of years, and have generally been regarded as waste. Many of these slags are no longer seen as residues merely to be discarded, but as potential economic sources of metals, or as useful by-products in their own right. Slag cleaning can enhance the recovery of valuable metals in existing pyrometallurgical processes, or can produce economic value from recycling old slag dumps. For example, a process has been developed and implemented industrially for recovering cobalt from copper smelting slag in a DC arc furnace. The relatively non-leachable behaviour of glassy slags allows them to be used as a very safe means of disposal of metallurgical waste streams, including many that are classified as hazardous. The high temperatures, reducing conditions, and good mixing that can be achieved in a DC arc furnace enable the effective functioning of this environmentally beneficial means of disposal. Lead blast furnace slag can be rendered safe for disposal by treating it using the Enviroplas process, which strips most of the hazardous lead from the slag (and traps the rest in an insoluble glassy slag) and recovers economic quantities of zinc by absorbing (in a lead splash condenser)the zinc vapour that is fumed off in the furnace. Another example can be seen in the recovery of a chromium- and nickel-containing alloy from stainless steel plant dust, while producing a disposable residual slag. The examples presented here illustrate that it is possible to develop processes that are both economic and environmentally beneficial. Keywords: DC arc furnace, plasma, slag cleaning, cobalt recovery, zinc fuming, Enviroplas, jigging, re-melting fines, environmental, economic

Jan 1, 2004

By W. C. Shanks

Seventeen deeps, which contain hot or cold brines and/or metalliferous sediments, have been discovered in the axial rift zone of the Red Sea. Metalliferous activity results from the unique geological setting of this incipient ocean basin: oceanic crust intruding in a central rift zone flanked by thick evaporite sequences. Brine pools tend to occur in structural depressions where- transform faults intersect the spreading axis. The most significant metalliferous occurrence is in the Atlantis II Deep, which contains approximately 227 Mt (dry weight) of metalliferous sediment which averages 1.04% Zn and 0.28% Cu. Higher potentially economic grades (3-6% Zn, 1% Cu, 50 glt Ag) occur in the Southwest Basin of the Atlantis II Deep, comprising total metal tonnages of 1.7 Mt Zn, 0.4 Mt Cu, and 5000 t Ag. The Pre-Pilot Mining Test conducted in 1979 raised 15 000 m3 of mud by a slurry process and demonstrated the feasibility of mining, concentration by froth flotation, and tailings disposal at sea. A Pilot Mining Test is scheduled for 1983-1984. The metalliferous discoveries in the Red Sea provide a model example of deep marine mineral exploration. Detailed mapping of bottom bathymetry and brine-interface reflectors using a high-resolution narrow-beam echo sounder has been the most effective exploration tool in the Red Sea. Followup coring has discovered additional metalliferous deposits in basins without present-day brines, and potential exists for additional discoveries. Geochemical exploration using heavy metals values in sediments (iron, manganese, zinc, copper, and mercury) and sulfur isotope values of sulfides are considered to be the most promising techniques for discovery of currently inactive deposits. Positive sulfur isotope values in the range I to 17 are an indication of hydrothermal sulfides in the Red Sea, and there is considerable contrast from back- ground bacteriogenic sulfides ( - 10 to - 45).

Jan 1, 1983

By W. C. Shanks

Metalliferous sediments and/or saline brines have now been discovered in numerous sea floor deeps along 900 km of the axial rift zone of the Red Sea (Fig. 1). The Atlantis II Deep remains the most interesting of the the brine deeps both in terms of intensity of submarine hydrothermal processes and in terms of potential economic importance. In fact, successful completion of a pre-pilot mining test in 1979 indicates that the Atlantis II Deep may become the first deep sea base metal sulfide mine (Mustafa and Amann, 1980). Under the most optimistic scenario, the Atlantis II Mine might be established 4-6 years after completion of a year long pilot mining test in 1983-84. If established, mining would produce about 100,000 tons per day of wet mud with about 200 tons per day contained zinc, and proportional amounts of Cu and Ag. Expected mine life would be about 15-20 years (Anon., 1981). In addition to direct economic importance, the Red Sea brines and metalliferous deposits provide significant insight into exploration for sea floor brine-related ore deposits and for analogous ancient deposits. In this paper I will concentrate on the economic potential of Red Sea deposits and sea floor exploration for brine related deposits, but some ramifications of relevance to ancient deposits are extant.

Jan 1, 1982

By Earl Sweet

This overview of economic and financial market prospects examines the current and future state of the global and Canadian economies with a focus on commodities. Housing prices and global conflicts all have effects on the overall economy and metal prices and mining developments in particular. This presentation outlines where we are today and where the author and BMO see the economy moving over the next few years.

Jan 1, 2016

D. B. DOWLING,* Ottawa, Ont.-I do not propose to start any argument, but really there is a comeback to what Mr. Coste says.1 Geography is probably not geology, but geology is geography. You cannot regard structure as geography on the surface, but it is geology as soon as you get under the surface. In Canada, it is quite true that they went too close to the Rocky Mountains. When boring in the foothills, as Mr. Coste says, they were too close to the mountains where they got into a faulted area, and if there had been storage, it probably would have lost a good deal of the oil. The situation in the Calgary field is one that might be interpreted in many ways, but in front f the foothills there is a very deep syncline. The gas and oil that is recovered on the edge of the, foothills is of such a nature that we must assume that it is not the pure crude oil. It seems to be somewhat refined, or a condensation product. The solution, or at least the argument that appeals to me, is that as the deeper part of that basin is, say, 6000 ft. below sea level, there must have been some breaking up of the oil on account of pressure and of the heat, and we are getting gas, traveling up toward the surface in the foothills; and as it comes up, it probably condenses again, and is caught in folds on the edge of the syncline so that we have a natural condensing machine there. The oil is not found on the eastern side of the folds, it is found on the western side. On the eastern side and on the summit there is a little light oil, gasoline, we will say, blowing into the well once in a while; now that looks like a natural condensation of the gas and a storage behind the summit.

Jan 5, 1919

EUGENE COSTE, ? Calgary, Alta.-Evidently in Argentine they have a petroliferous province just east of the Andes where very much the same conditions exist as are found on the east side of the Rocky Mountains and in the plains adjacent. It strikes me, though, that the same mistake is being made in Argentine in the exploration for oil as was made in Alberta, Canada; viz., drilling the wells too .near the seepages in the belt in the eastern part of the petroliferous province, too near the mountains. This same mistake was made in Alberta, with disastrous results; viz., only fissure production was found. The strata so near the mountains are tilted at a very strong angle, such as is described in this paper, and the dislocations are intense. On the other hand, we have found that when we get 100 or 200 mi. away from the mountains we get into oil and gas belts which are very prolific. So far our fields in Alberta have been gas, but in Wyoming, as you know, they get many thousands of barrels a day. I have no doubt that conditions in Argentine are exactly similar but that they have so far kept too near the mountains and that they want to explore the belts farther east to obtain better results.

Jan 4, 1919

By Richard J. Leary

At the 1976 Annual Meeting of AIDE, Alan Merson reminded his audience that economic' success comes to those who understand things as they are, rather than as they have been or what ideology says they should be (1). He went on to say that, measured by this standard, the mining industry is in trouble. The mining firms had recognized long ago the importance of effective lobbying in Washington and the state capitals. But, he pointed out, those methods are nearly worthless anymore in coping with many land use problems because the critical decisions are likely to be made at the local level. There the tactics are far different as are the relations of the decisionmakers to the parties before then. Furthermore, in his estimation the trend is to leave land use regulation largely to the local level of government. All who are concerned for access to land for mineral development will be benefited by reading Professor Merson's paper lie is speaking effectively about the context of decisionmaking for specific cases, the shape of things in the here and now. There is, however, a longer-tern set of considerations that if pursued will be likely to foster the creation of public support for mining developments. At that sane meeting I spoke on two foundations of the long-term relationships: namely, the growth in requirements for minerals implied by projections of increasing consumption; and a rationale for fostering mineral exploration and development. I mentioned in passing the social decisionmaking process for public uses of land (2). This paper is intended as a complement. The growth of requirements for Minerals and the rationale for development based on the Entropy Law will be only mentioned. The main concern will be on the process of social decisionmaking in the context of access to land for mineral development.

Jan 1, 1976

By J. A. Drozdiak, W. Tse, P. P. Rosario

"In a recent publication (SAG 2015), we presented a non-conventional high pressure grinding roll (HPGR)-ball mill circuit as a lower capital cost alternative to the “standard” HPGR circuit. The circuit was designed for the treatment of a hard ore and relatively high tonnage (50,000 t/d). That paper provided details such as flowsheets, layouts, and equipment lists for the two options and compared their calculated capital costs demonstrating significant savings for the proposed circuit. This paper extends the analysis to a third option, a traditional semi-autogenous ball crushing circuit, giving the same level of details and now including the operating cost estimates for all three options for a more comprehensive analysis. Moreover, this work also provides information about the strengths and weaknesses of the non-conventional HPGR circuit when compared to the “standard” HPGR option.This study demonstrates that the proposed non-conventional HPGR-based circuit not only provides a lower overall capital costs for the project if compared to a “standard” HPGR circuit but also brings the capital cost to the level of the traditional semi-autogenous grinding (SAG)-ball mill circuits. In addition, the innovative HPGR circuit provides similar operational cost savings of the “standard” HPGR and thus a significant advantage when compared to the SAG option. With the current capital cost sensitivity for most greenfield projects, the proposed alternative circuit should help make HPGR-based circuits more competitive and thus promote the utilization of a technology that enables higher energy efficiency and reduced greenhouse gas emissions. INTRODUCTIONThe application of high pressure grinding roll (HPGR) technology in comminution circuits is well established for the processing of cement, diamonds and iron ore (Broeckmann & Gardula, 2005), and over the past 10–15 years, this technology has slowly been applied to hard ores in high-tonnage precious and base metal operations. Unfortunately, under the current economic climate, the ability to finance large capital projects has become very difficult and companies tend to have an easier time securing funding if the capital expenditures (CAPEX) are low with a proven process method. The traditional semi-autogenous grinding (SAG) mill / ball mill circuits easily fit into this mould, having been installed in countless plants around the world over the past 30 years with relatively low capital requirements. In contrast, it has been well-documented that HPGR-based circuits are capital intensive with complex material handling systems (Seidel, Logan, LeVier, & Veillette, 2006). Although these circuits benefit from reduced operating costs with the increase in energy efficiency and the elimination of steel grinding media (Rosario, Boyd, & Grundy, 2009), if the company is unable to secure financing to build the plant, these advantages remain out of reach. With the current trend to retrofit existing SAG circuits with a secondary crushing circuit to achieve design throughput, the opportunity to circumvent this gross inefficiency by making HPGR-based circuits more capital friendly would greatly benefit the industry."

Jan 1, 2016