Search Documents

Capital budgeting and investment analysis have, to this point, been beyond the scope of this text. However, a recent conceptual development by John K. Shank and Vijay Govindarajan in the capital budgeting literature is of interest to operations managers because it (1) employs some of the cost management tools outlined earlier in this text and (2) provides a useful framework for using cost management techniques to improve the competitive position of the firm. ft Shank and Govindarajan present a method of analyzing proposed expenditures that is not based on discounted cash flow measures. Their approach employs a combination of three analytical tools: value chain analysis, strategic positioning analysis, and cost driver analysis. In each of these, cost and revenue information is used in ways normally not associated with conventional budgeting. Using this framework, capital projects are selected based on their ability to improve the firm's strategic position. Shank and Govindarajan have termed this approach "strategic cost management."

Jan 1, 1999

By Warfield Garson

Few, if any, of the non-ionizing radiation health hazards to be found in either surface or underground coal mining are uniquely different because of their being found in the work environment. Hence, they can be considered generally for their bio-effects on the worker when found in the mining work environment. The same may not be said, however, for the lack of non-ionizing radiation and its bio-effects, particularly as it relates to underground coal mining. The term "non-ionizing radiation" refers to various forms of electromagnetic radiation of wavelengths longer than those of ionizing radiation. As the wavelength gets longer the energy of electromagnetic radiation decreases. Therefore, all non-ionizing forms of radiation have less energy than cosmic, gamma, and X-radiation. In order of increasing wavelength, non-ionizing radiation includes ultraviolet, visible light, infrared, microwave, and radiofrequency radiations. The energy frequency and wavelength range of both the ionizing and non-ionizing electromagnetic forces are shown in Table I. To convert the wavelengths of various radiations to Ångström units, one multiplies millimicrons by ten. In a vacuum, all electromagnetic radiation has the same velocity, namely 3 x 1010 centimeters per second. The natural source of radiant energy here on earth is our sun which emits radiation continuously over a wide spectrum. This radiation on average reaching earth ranges from 290 nm in the ultraviolet range to over 2,000 nm in the infrared range with a maximum intensity of about 480 nm in the visual range. You will note this falls into the visible blue wavelength and accounts for our blue sky and blue ocean and deep water effects. We are all familiar with the fact that the passage of solar radiation through the atmosphere to the earth changes the spectrum considerably because the atmosphere absorbs and scatters many of the sun's rays. The ozone in the upper atmosphere absorbs the shorter ultraviolet wavelengths and water vapor absorbs some of the infrared wavelengths. Smoke, dust particles, gas molecules and water droplets scatter the rays, especially those of shorter wavelengths. In addition to the sun, every gas, liquid or solid object at a temperature above absolute 0° radiates energy. Solid objects emit almost continuous spectra. At low temperatures only radiation of the longer wavelengths in the infrared range is emitted, but as the temperature of the object is increased, more and more of the shorter wavelengths are added. This fact is most readily demonstrated by heating a piece of steel. When a piece of steel reaches a temperature of about 1,700° Fahrenheit, it gives off radiation at the red end of the visible spectrum and appears dull red. As the temperature is further increased, the shorter rays are also emitted, until at about 2,100°F, the metal appears white, due to the emission of wavelengths throughout the entire visible range. Gasses, on the other hand, when heated emit radiant energy only at certain wavelengths, which are characteristic of their chemical structure. This latter fact is of importance in underground coal mining as high intensity gas and vapor lamps are becoming more and more utilized for illumination in underground coal mining. The biologic effect of non-ionizing radiation exposure depends upon the type and duration of exposure and on the amount of absorption by the miner. The effects of this radiant energy on the miner fall into four distinct types: (1) the heating effect of infrared radiation, (2) the effect on the eye of visible radiation, (3) the effects of ultraviolet radiation, and (4) the growing potential effects of the misuse of microwave radiation. Each non-ionizing type of radiation will be considered individually. ULTRAVIOLET RADIATION The sun is the major source of ultraviolet radiation, which is of concern in open pit and surface mining at certain seasons and in certain climes necessitating protection for the surface miners under those conditions; nonetheless, there are some man-made sources such as electric arc lights, welding arcs, plasma jets, and special ultraviolet bulbs for illumination underground that demand surveillance in the underground environment to be aware of whether the miners are at risk above the threshold limit values allowable. Since ultraviolet radiation has little penetrating power, the organs that are affected are the skin and the eyes. Ultraviolet radiation is strongly absorbed by nucleic acids and proteins, and the effects in man are largely chemical rather than thermal. Short-term effects on miners include acute changes in the skin. These are of four types: (a) darkening of pigment, (b) erythema (sunburn), (c) increase in pigmentation (tanning) and (d) changes in cell growth. Ultraviolet radiation also causes acute effects on the tissues of the eye. Overexposure can lead to keratitis, inflammation of the cornea, and conjunctivitis. Long-term effects of ultraviolet exposure include an increase in the rate of ageing of the skin with degeneration of skin tissue and a decrease in elasticity. Late effects of ultraviolet on the eye include the development of cataracts. The most serious chronic effect of ultraviolet exposure is skin cancer. Ultraviolet radiation effects are increased by some industrial materials and drugs. After exposure to such compounds as cresols, the skin is exceptionally sensitive to ultraviolet radiation. Photosensitivity reactions occur after exposure to a variety of other chemicals and drugs including dyes, phenothiazines, sulfonamides, and sulfanylureas. On the other hand, we must remember that ultraviolet radiation has an important role in the prevention of rickets. Vitamin D is produced by the action of

Jan 1, 1981

By John Reilly

"INTRODUCTION Successful management of megaprojects, meaning delivery within budget, on time and according to expectations, is a fundamental requirement. Many projects have been successful, some have not. This paper reviews megaprojects1, drawn from the author’s projects over the last 50 years, with “lessons-learned” and a summary of recommendations that, if implemented, would improve megaproject management and delivery. Characteristics of these projects are summarized – including outcomes related to key factors such as politics, management, organizational structure, contracting methods, cost estimates, risk and other elements. The projects include the Washington D.C. Metro, Boston Southwest Corridor, LA Metro, Toronto Rapid Transit Expansion Program, BART San Francisco, MARTA Atlanta, London Underground and the Washington State Highway megaprojects – including the SR520 Floating Bridge and the Alaskan Way tunnel. Other projects that illustrate successful, innovative management and contracting methods include the Madrid Metro (low-cost delivery), the Sydney Northside Storage tunnel (outturn cost, alliancing) and the Lake Mead tunnel (working in partnership, risk management). KEY ISSUES A characteristic of megaprojects is that their complexity increases exponentially with size (Reilly 2010, Galloway et al. 2012). These projects are very visible politically, have many stakeholders who must be satisfied and generally span many years and political election cycles. To be successful they must meet expectations, function efficiently, and be delivered under, at or close to budget and schedule. There is a widely-based perception that large, complex projects are always delivered late, over budget and with problems. Specific examples include projects such as Tren Urbano in Puerto Rico – $1.28 billion over initial budget (+133%), the Silver Line Transitway Project in Boston – $286 million over budget (+90%), the London Jubilee Line Transit Project – 2 years late and £1.4 billion (+67%) over budget, the Channel Tunnel Rail Project – £3.7 billion (+80%) over budget, Denmark’s Great Belt Link rail and road link (54% over budget), the 2003 Woodrow Wilson bridge tender in Virginia (72% over estimate) and Boston’s Central Artery Project – several billion (perhaps 100%) over what would have been a realistic initial budget and years late (Reilly 2001c, 2004a; Salvucci 2003)."

Jan 1, 2016

By K. L. Kayler

Ball clay production in 1991 amounted to about 800 kt (880,000 st), about the same as in 1990. 1992 estimates show a 5% decrease to 750 kt (827,000 st). This decrease continued a trend of reduced production that began after the peak of 900 kt (1 million st) that occurred in 1988. Use of ball clay in sanitary ware was about 2% less in 1992, although levels of use in floors and wall tile, dinner ware and pottery remained constant. Filler, extender and binder applications continued to be important end uses, accounting for about 17% of total market. Refractory uses maintained their market share of about 17 kt (18,700 st). Use of clay liners in toxic and waste dumps is an application widely found in Germany. However, its use has not been fully exploited in the United States. This could represent an opportunity for domestic clay producers. Tennessee remained the leading source of ball clays. Other producers were Indiana, Kentucky, Mississippi and Texas. Tennessee's production, however, decreased about 3% in tonnage produced and its value dropped from 68% to 65% of total production. The ceramics division of Southern Clay Products, Inc., was bought from LaPorte plc by United Clays of Texas, Inc., a US subsidiary of Watts Blake Bearne & Co. The purchase included ball clay reserves at Troup, TX. The acquisition makes United Clays the second largest ball clay producer in the United Sates. United is also the only company mining clay in Texas. Fire clay production decreased 5%

Jan 1, 1993

By A. Griffiths

The? use of hydrogen peroxide to detoxify gold mill waste waters containing cyanide and other toxic substances is already an established technology. Recent advances have extended the range of application of hydrogen peroxide treatment to include the removal of complex iron cyanides, the simultaneous removal of cyanide and toxic metals down to very low levels and treatment of barren bleeds, CIP' pulps and tailings pond discharges. Three treatment plants are described here. Each was installed at a gold mine in North America in 1987 and each illustrates a different application of hydrogen peroxide. The need for individual design of the detoxification plant to fit particular requirements is shown by the examples chosen.

Jan 1, 1988

By M. L. Smith

The U.S. Bureau of Mines Cost Estimating System (CES) has been used for prefeasibility analysis and mine cost engineering since 1978. In the past, prefeasibility analysis with CES has involved the solution of regression equations. The new generation of CES uses an object-oriented expert system in a Windows? environment. Knowledge bases are structured around generic mine models which access shared knowledge bases for system design.

Jan 1, 1994

By Nelson R. Shaffer

Biotechnology has become a household word of the nineties, and it is expected to become as important in the next century as the computer is in the present. Numerous books and articles portray biotechnology developments as nothing less than a scientific revolution. Almost everywhere one looks new biotechnical breakthroughs are being reported that offer almost limitless opportunities to harness the force of living things to produce materials and manipulate their properties. Biotechnology has been broadly defined as any applications of biological organisms, systems, or processes to manufacturing and service industries. This seemingly new technology is, in fact, one of mankind's oldest scientific activities (Table l), which has been recently revolutionized by techniques of genetic engineering that arose out of basic research in biology, biochemistry, genetics, and information sciences. From fields as old as agriculture and medicine to those as new as monoclonal anti-bodies, transgenic plants, or biocomputers are encompassed by biotechnology. Like most human endeavors, industrial minerals play critical roles in biotechnology. In addition biotechnology holds real potential to improve extraction and beneficiation of certain industrial minerals themselves. BIOTECHNOLOGY OVERVIEW Companies using established biotechnical techniques make up large and diverse groups such as agriculture, chemicals, and pharmaceuticals. The massive US Pharmacopia (Anon., 1990a) provides detailed specifications for minerals used in medicines. Alumina, zirconia, apatite, and bioactive glass have seen service as implant materials (Williams, 1990) and new uses for minerals in health sciences are being actively researched. Agriculture produced $361 billion worth of food and drink during 1991 in the United States; organic chemicals, pharmaceuticals, and enzymes accounted for $68, $59, and $42 billion, respectively (Anon., 1992a). It is not possible to separate the contributions of industrial minerals to biotechnical products, but they represent a very large and rapidly growing new field of uses. The new biotechnology has nearly 300 small companies, plus 15 established companies with 742 biotechnology-related firms (Dibner, 1991b). Revenues exceeded $2 billion in 1990 and are expected to grow to $50 billion by 2000 (Anon., 1992c), with worldwide sales exceeding $100 billion (Burrill and Roberts, 1992). Federal research amounted to $3.4 billion in 1990 (Anon., 1992b). The United States is the world leader in biotechnology, but other countries have large, well-funded programs. Despite debate about safety, obstacles to new biotechnology products are declining (Embers, 1992, Gibbons, 1991). Fifteen biotechnology drugs valued at $1.2 billion (Thayer, 1991a) are on the market, and more than 100 are in various stages of testing (Edington, 1992). Many diagnostic tests are also in use or development (Demain, 1983, Anon., 1992). Large scale efforts to produce or transform important chemicals are also underway (Ng et al., 1983, Hinman, 1991), and research into geologic uses of biotechnology has begun. Much has been published about microbial mining, oil recovery, desulfurization, bioremediation, and other geologic aspects of biotechnology, but this chapter is the first attempt to explore interactions of biotechnology and industrial minerals. This chapter examines uses of minerals in biotechnology; how biotechnology can be used to discover, recover, and beneficiate industrial minerals; and speculates on some potential, but as yet untried uses. Definitions What exactly does the word biotechnology mean? Bud (1989) states that the first use of the term was by Karl Ereky in 1919 to cover the interaction of biology and technology, and in 1933 the term was used in Nature. After citing seven different definitions, Smith (1988) concludes that biotechnology is a series of enabling technologies involving practical applications of organisms or their subcellular components to manufacturing and service industries or to environmental management. Walker and Cox (1988) suggest a definition of "the practical applications of biological systems to the manufacturing and service industries and to the management of the environment." Primrose (1991) says that it is "the commercial exploitation of living organisms or their components." There is essentially an older broad use of the term and a new use. The US Office of Technology Assessment (Anon., 1984) uses a broad definition that includes any technique that uses living organisms (or parts of organisms) to make or modify products, to improve plants or animals, or to develop micro-organisms for specific uses. Definitions are different, but they all have several fundamental elements that include the control, management, or manipulation of living things for commercial, industrial, or useful ends. While such a definition encompasses all of agriculture in practice the "new" biotechnology is restricted to processes involving microorganisms-plant and animal cells, or enzymes. Many consider biotechnology to be recent, but it is one of our oldest technologies as evidenced by the prehistoric origin of brewing, cheese-making, and other techniques. [Table 1] gives some of the important developments in the history of biotechnology. Smith (1988) breaks down historical developments of biotechnology into four phases: 1) prehistoric with no understanding of underlying processes; 2) nonsterile processes; 3) sterile processes after 1940; and 4) genetic and recombinant DNA technology deliberate design of special organisms or processes.

Jan 1, 1994

By Ronald P. Geitgey

Pumice and volcanic cinder are volcanic rocks characterized by a cellular structure. They are formed as gases (primarily water) dissolved in molten rock, or magma, exsolve to generate a froth that cools and solidifies into rigid foam. The cells or bubbles are referred to as vesicles and they range in size from a few thousandth of a millimeter to several centimeters. Due to their vesicular character, both pumice and cinder have lower density and higher porosity than most other rock types, and, as the vesicle walls are broken, sharp cutting edges are continually generated. These properties are the basis for their commercial value as lightweight aggregates, insulators, absorbents, and abrasives. There is a certain imprecision in the terminology applied to volcanic products, reflecting to varying degrees the diversity of volcanic rocks, the relative youth of volcanology as a distinct field of study, and customs and practices of commercial trade. In general terms, pumice is light colored (white, gray, pink, pale yellow, or brown) and highly vesicular, usually with vesicle walls that are visibly glassy. Many pumice fragments are light enough to float on water. Pumice is readily cut by steel tools and some can be crushed by hand. Individual pumice fragments may range from 1 or 2 m in one dimension to c1 mm. Commercially, finer fragments are called pumicite or volcanic ash. In volcanology the term ash refers to any fragment c2 mm in size regardless of its composition. Cinder, or scoria, is dark colored (black, red, brown) with thick vesicle walls that appear dull or stony and that may exhibit iridescence. Cinder typically is heavier than pumice and has a higher crushing strength. In volcanology the term scoria refers to dark vesicular material throughout a wide size range while it is common commercial practice to use scoria for larger fragments (usually greater than 2.5 cm) and cinder for smaller fragments. GEOLOGY Composition and Physical Characteristics Most pumice is silicic ranging from 60 to 70% SiO2, that is, dacitic to rhyolitic in composition. Pumice of less silicic composition, including basaltic, occurs but it is less common and does not have extensive commercial use. Scoria and cinder are typically basaltic to andesitic with approximately 50 to 60% SiO2. Pumice and cinder may contain phenocrysts of feldspars and various ferromagnesian minerals that crystallized in the magma prior to eruption. Fragments of rock through which the magma has passed may be entrained in the melt and wall rock may be fragmented and admixed during an explosive eruption. Some scoria particles have lithic fragment cores. Phenocrysts and lithic fragments are relatively unimportant in cinder end uses but their presence may be detrimental in certain pumice products. Pumice typically has vesicles <1 mm in size separated by thin walls. Vesicle shapes include irregular, spherical, elliptical, and elongate to the point of being tubular with a silky appearance (Fig. 1). In some pumices, the vesicles are interconnected making the fragments permeable and highly absorbent; in others the vesicles are isolated forming a highly porous but very impermeable pumice. Floating masses of pumice fragments from the eruption of Krakatoa in 1883 were reported in the Indian Ocean for up to two years after the eruption. Vesicles in cinder are larger and range from spherical to highly irregular in shape with much thicker walls and abundant interconnections. Scoria and cinder are typically heavier, porous, and do not float. Density and hardness of pumice must be expressed precisely to avoid confusion. Density may refer to the glass itself, the apparent density of the vesicular pumice particle, or the bulk density of pumice in a deposit or in a product. Pumice glass has a specific gravity of 2.5 or more depending on its composition. Pumice fragments typically have a specific gravity of 4.0 and so will float on water, at least until enough vesicles are saturated to cause them to sink. Expressed as density, pumice fragments typically weigh less than 1 g/cm3. Depending on moisture content, particle density, and particle size distribution, the bulk density of pumice typically ranges from 500 to 700 kg/m3. Typical bulk densities of cinder range from 700 to 900 kg/m3 for material used as lightweight aggregate while the bulk density of cinder used for highways and railroad ballast may be considerably higher. Hardness in pumice may refer to the glass vesicle walls, possibly including crystals or lithic fragments, or to the apparent hardness of the particle as a whole, which is more a measure of the strength of the vesicle structure. Pumice glass typically has a Mohs hardness of 5 to 5.5. A pumice particle may have a much lower apparent hardness and be easily cut with a knife or steel saw because the vesicle walls break readily. Pumice and cinder are primarily pyroclastic deposits formed as fragmental products of volcanic eruptions. Several classification - systems differing in various details have been proposed for pyroclasts and pyroclastic deposits based on particle size (Fisher, 1961, Schmid, 1981, Cas and Wright, 1988). Generally, particles >64 mm are referred to as blocks or bombs depending on their shape. Particles between 64 mm and 2 mm (4 mm in some schemes) are called lapilli and smaller particles are called ash. These names may be modified by compositional terms, for example pumice lapilli or scoria lapilli. Most commercial deposits are composed of fragments in the lapilli size range. In the United States, pumice fragments having one dimension of 5 cm or more are legally defined as block pumice. The procedures for acquiring pumice from federal land are determined in part by this definition and are described in a later section.

Jan 1, 1994

By Richard E. Hucko

The U.S. Department of Energy (DOE) Coal Preparation Program focuses on providing the technical and process-development basis that can be utilized to produce environmentally acceptable clean-coal feedstocks for use as market conditions permit. A major objective of the Coal Preparation Program is the development of physical coal-cleaning technologies capable of significant removal of mineral matter and pyritic sulfur at high energy recovery levels.

Jan 1, 1989

By David H. Carrillo

HYL has developed a sticking tendency test which accurately predicts behavior of iron oxide feedstocks in the HYL III process. Test results together with pilot plant experimentation and commercial scale demonstrations permit the conclusion that lump ores will not agglomerate at 960°C (1233 K) in an HYL III Plant. Pellets may also be processed without agglomeration at 960°C (1233K) with the addition of no more than 5 percent lump ore. Using the HYL III process, the ironmaker can exploit feedstock market conditions without sacrificing plant productivity or energy efficiency.

Jan 1, 1981

By Fred H. Lightner

The feasibility evaluation of the Borealis project of Houston International Minerals Corporation (HIMCO) was initiated in October of 1980. The operation of the Borealis Mine and heap leaching plant began in late 1981. In order to achieve the rapid development schedule several items were necessary: 1) Pre-planning of environmental requirements and early study of key issues. 2) Adoption of conservative design criteria. 3) Coordination and cooperation between HIMCO and regulatory agencies. 4) Adoption of specialized engineering and construction procedures. 5) Careful evaluation of owner project management philosophy.

Jan 1, 1982

By J. A. Finch

The use of pneumatic methods for measuring interface level in flotation columns is analysed. It is shown that errors can vary over a wide range (e.g. 40 cm. in one industrial application) depending on bubble size, particle size, bubble loading, liquid hold-up and bulk slurry density. Accurate measurements (+ 5 cm) can be obtained by measuring intensive properties of the froth near the interface. Methods based on the measurement of temperature and conductivity are described and analysed. Control of the interface level using these measurements subject to various disturbances is demonstrated.

Jan 1, 1988

By N. Finkelstein, C. G. Palagi, S. S. Stillar

The C. E. Weed concentrator treats 51,000 tons per day of 0.5% to 0.7% copper ore received from the Berkeley Pit, the Continental East Pit and the Butte underground mines. Improved operating techniques and conversion from semi-autogenous secondary grinding to ball milling have increased tonnage from an original design of 42,000 tpd. Separate treatment of sands and slimes, with recovery of soluble cop- per from the slimes, has increased total copper recovery. Concentrator tailings are pumped 600 vertical feet and 20,000 horizontal feet for disposal.

Jan 1, 1976

By B. P. Boisen

INTRODUCTION Application Measurement of rock deformation is essential to stability and behavioral monitoring of underground openings. The difficulties of obtaining adequate sample distribution, density, and orientation can frequently be overcome by the use of single and multiple position borehole extensometers. In its simplest form, a borehole extensometer consists of an instrument head, usually anchored in the collar of a borehole, and a number of in-hole anchors, each of which is fixed in place at a known distance from the collar. As rock adjacent to the borehole deforms, the component parallel to the borehole direction causes a distance change between adjacent in-hole anchors, as well as a distance change between individual anchors and the instrument head. These changes are measured by means of a mechanical link (usually wire or rod) extending to the instrument head from each anchor. The resulting data can be used to compute the distribution, magnitude, rate, and acceleration of deformation in the material intersected by the extensometer&apos;s borehole. Wire Vs. Rod Extensometers Since the early 1960s myriad varieties of borehole extensometers have become available through the combination of various special features of two basic instruments, the wire and rod versions of borehole extensometers. Recent publications have recommended shallow depth limitations for wire extensometers, and favor rod extensometers for a broad range of borehole inclinations and depths. There are three main reasons for using a deep wire system: its cost effectiveness; the fact that tremendous depth means tremendous rod weight which will cause the rod to buckle or rub against the borehole or casing wall; and users&apos; attitude and proper understanding of how to install and apply a wire-type extensometer. Here experience plays a big role. Over the years, many have learned the hard way that untensioned rod extensometers are simple and inherently inexpensive, but limited to vertical up holes where sensitivity is not influenced by friction between the rod elements and the borehole wall or protective conduit, the inertia of the rod elements, or the direction of the movement to be measured. In deep, horizontal, or inclined holes, and in instances where compressive as well as tensile strains or displacements are anticipated, tensioned rod or wire systems are preferred. System Components Borehole extensometers are made up of at least the following five principal components: the instrument head; the collar anchor assembly; the downhole system of anchors and rods or wires; the signal cable if the head is equipped for electronic readout; and the readout apparatus, whether mechanical or electronic. These components are shown in Fig. 1. Borehole Requirements Most extensometers are designed for installation in nominal 75 to 57-mm (3.0 to 2.25-in.) diam drill holes. Either a diamond drill or a percussion drill hole is satisfactory, provided the variation in drill-hole diameter is within the tolerance of the standard anchor design. The basic system may be modified for other hole diameters by changing the dimensions of the collar anchor and downhole anchor assemblies. Some instrument heads and collar anchor assemblies require enlarged borehole collars, though usually not over 150 mm (6 in.) for a depth of 1 m (3 ft). It is desirable, although not essential, that holes be free-draining. Holes must be clean and free of debris before installation. Depth/Orientation of Extensometer Boreholes Extensometers are designed to measure axial strain components in the instrumented drill hole. As the drill hole is axially deformed, the distances between individual downhole anchors and the instrument head change, as do the distances between adjacent anchors. The distance changes measured by a multiple position borehole extensometer, for example, are reduced to functions of time, hole depth, anchor position, or other parameters of significance in terms of the structure under investigation.

Jan 1, 1982

By Michael Robert Hodson

I. Introduction The free market cash price of aluminium in the third quarter of 1985 is approximately $1000/tonne, well below the short as well as the long run marginal costs of production. The current disparity between marginal costs and price, as well as the pattern of prices since their high level in 1980, has led many economists to question whether prices are governed by the &apos;fundamentals&apos;. Prices, some would argue, are the result of speculation; and speculation is irrational, little influenced by the fundamentals of the industry. The object of this paper is first to examine the relation between the fundamentals and price. A number of simple models are formulated and some empirical evidence is given to show that prices are not very different from costs. There are good reasons why costs and prices have fallen since 1980. Second, the connection is drawn between the fundamentals and speculation. To do this the concept of &apos;rational expectations&apos; is defined and applied to a model of the aluminium industry. Then speculation is introduced into the model and the characteristics of the solution are examined. The object is to discover the new factors that determine prices and the basic change in the nature of the solution that is caused by speculation. 2. Prices and the Simple Supply-Demand Model Consider a simple model of the aluminium industry. Demand, D, is determined by economic activity, A, given exogenously, and inversely by the price, P. Supply, Q, is determined by the inverse of the rnarginal cost curve, and so varies inversely with exogenous factor costs, C, and directly with price. Price is determined by the equality of supply and demand. Given the equilibrium level of demand, price in this model is equal to the rnarginal cost of producing the required level of demand, P = MC (Dl. Algebraically, [ ] How well does this simple model explain the change in prices during the last five years? Table I shows the LME cash price and the estimated marginal cost of producing consumption during the second quarters of 1980 through 1985. The figures in the table show that price and the marginal cost of supplying demand both fell between 1980 and 1982, rose in 1983 and by 1985 had fallen again. Only in 1984 is the direction of change different. And during the 1980 to 1985 period, marginal costs fell by approximately $560/tonne while the LME cash price fell by $678/tonne. There is a correspondence between the fundamentals of cost and price over most of the individual years and the period as a whole.

Jan 1, 1986

By R. Sharma, S. Svoronos, S. Gupta, N. A. Abdel-Khalek

This paper presents the results of a column flotation study on a fine feed sample of Florida phosphate. A central composite design was used to study the main and interaction effects of parameters affecting column efficiency. The statistical design is also used to determine the optimum conditions. The results indicate that, depending on the experimental conditions, it is possible to produce a high-grade concentrate with a high recovery. A 15ppm concentration of nonionic frother was found sufficient to maximize the recovery at pH of 9.5.

Jan 1, 2002

By Roger Beckie, Leslie Smith, Craig Nichol

To study the hydrogeological processes that control the movement of water through unsaturated waste rock, an intermediate-scale (8m x 8m x 5m) waste rock pile has been constructed and instrumented. The constructed pile is monitored for moisture content, matric suction, temperature, matrix water chemistry, gas chemistry, gas pressure, rainfall, evaporation, discharge volume and discharge chemistry. The pile is built upon a grid of 16 contiguous lysimeters. The experiment is designed to investigate the mechanisms that create rapid water flow through a pile and its exchange with slower-moving matrix water.

Jan 1, 2000

By T. D. Rourke, Fred H. Kulhawy, O&apos

From mid-1976 to early 1978, a 5.64 m diameter tunnel, 2491 m long, was excavated by a modified Robbins full-face TBM under shallow cover in highly stressed sedimentary rock in Rochester, NY. In-situ stress measurements were made, and tunnel behavior was monitored with MPBXs, inclinometers, tape extensometers, and instrumented steel ribs. Detailed geologic mapping was also done. In this paper, the as-monitored tunnel behavior is described, and the TBM performance is evaluated from field records. Recommendations are also made for future tunneling in similar geologic environments.

Jan 1, 1981

By Neil Hepworth

Neves Corvo Mine employs four mining and four backfill methods, including paste fill. The paper shows how the strength requirement for backfill in primary stopes was calculated and the relationship between laboratory strength and in situ strength requirement. The liquefaction of paste in secondary stopes is discussed with methods to determine the liquefaction potential. It was found from laboratory tests and the preliminary results of the underground trial, that the liquefaction potential of the paste is low at 2% and is high at 0.5% cement. The results to date are inconclusive regarding 1% cement.

Jan 1, 2001

By S. Behl, S. Mathur

The viability of physico-chemical purification methods such as selective, flocculation for the separation of two components having similar chemical compositions and the same crystal structure but different surface properties is demonstrated. A loss of selectivity was observed in a dolomite-dolomite mixture when polyethylene oxide (PEO) (five million molecular weight) was used us the flocculant. Heteroflocculation was minimized using a low molecular weight PEO (MW =105) as a site blocking agent (SBA). Near complete separation was achieved at pH 10.5 at the 100% recovery level

Jan 1, 1996