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By Eric Low

Raising capital by issuing debt or equity is necessary in almost every corporation. In the field of corporate finance, the raising of capital is a heavily-studied topic. However, some of what is studied on this topic in corporate finance is not applicable in the mining industry. There are also many financing options that were created for the mining industry such as flow-through shares, prepaid forwards, and royalty sales. The cyclical nature of the industry makes the risk-return profile of financings more difficult to estimate than in other industries. Additionally, the methods used to assess firm value are different than other industries, as the values of orebodies are not included on balance sheets. For precious metals companies, which are a hedge against most other securities, there are additional complications with determining investor expectations and cost of equity. This thesis puts forth a decision-making framework to explain mine financing choices from the perspective of mining companies. The approach is threefold. First, all of the major equity and debt financing instruments available to mining companies are presented and analyzed. Each financing method is assessed on a wide range of criteria. Next, these concepts are applied in case studies of four companies: BHP Billiton, Barrick Gold, Teck Resources, and Noront Resources. For each company, the overall choice of financing methods is shown and analyzed. The effect of financing choices on the weighted average cost of capital (WACC) is calculated. The final section deals with case studies of individual mine finance decisions during the past two years.

May 1, 2011

By P D. Kasbanis, Lyall Workman

"The energy output of an explosive is typically calculated using an equation of state and computerapplications. Results are reported as weight and bulk strength, either in absolute terms or relative toANFO. The effect of the equation of state selected and the assumptions regarding the energy calculation are considered and interpreted for the purpose of blast design. It appears that variations in the heat of detonation which result from the selection of the equation of state and parameters associated with it are not sufficient to significantly affect blast patterns, explosive consumption and costs. However variations stemming from the use of “available energy” associated with a cut-off pressure are significant, suggesting in many cases large pattern expansions. The validity of the various approaches is discussed and blast design results based on the energy calculated by the different approaches are presented and evaluated."

Jan 1, 1996

By Arno C. Fieldner

The determination and publication of data o the chemical and physical properties of American coals have been primary functions of the Bureau of Mines since its creation in 1910. In recent years this program has been expanded to meet increasing needs for information on the suitability of coals for the production of coke, gas, and byproducts, and within the last year an experimental coal-hydrogenation plant has been completed. With this addition, the Bureau is able to cover every phase of coal utilization, including combustion, carbonization, liquefaction, and complete gasification. The need for this information is increasing not only to meet the requirements of consumers but also to give the data required to establish the classification and minimum selling price of coal by the National Bituminous Coal Commission.

Jan 1, 1938

By Alice V. Peter

The rare-earth group are among the least familiar of the 92 known elements. Moreover, the relatively few people who have even heard of the rare earths ordinarily regard them merely as very rare elements having unusual names but doubtful commercial application. This typical attitude can be attributed partly to the fact that no commercial uses have been developed for most of the members of the group and partly to the fact that those which do enter into useful articles do so anonymously. Most people speak with a degree of familiarity of the "chromium" plating on their automobiles or household appliances; "antimony" ash trays and cigarette boxes are on sale in many department stores; and "tungsten" lamps and even "molybdenum" steels are advertised in popular magazines. However, the average user of a pocket cigarette lighter is not conscious that the important sparking element is a "flint" made from ferrocerium, and if he does chap on to inquire about the composition he is likely to be told that it is "sparking alloy", "misch metal", or 'pyrophoric alloy." Similarly, the wearer of spectacles made of "Crookes" or other tinted glass probably is not aware that the light softening effects are due to the presence of rare-earth oxides, or that the arc light on his street may owe its brilliance to cerium fluoride in the carbon electrode. Despite a variety of practical applications, however, most of the rare-earth metals still must be listed as scientific curiosities. In fact, little is known as to the properties which may make them useful products at some future date. Meanwhile it is important to note that Nature has been relatively generous in her distribution of the rare earths and that adequate supplies of most of them will be forthcoming when these elements have proved their worth as commercial products.

Jan 1, 1935

By Dong-kil Lee

Field tests have been conducted to investigate the characteristics of flow and physical chemistry of acid mine drainage(AMD) in the Hwangji-Yuchang settling pond in south Korea. pH and ferrous concentration of AMD flowed in the settling pond is 6.79 and 25.5 mg/l, respectively. As a results, we found that the ferrous oxidation reacted strongly around the inlet of the pond and the distributions of physicochemical properties is depended on flow characteristics and ferrous oxidation rate of AMD.

May 1, 2011

By Davies S. G, Mackey L. C

The oxidation of iron and nickel sulphide concentrates, and the dominant sulphide minerals which comprise them, has been studied under ignition conditions using thermogravimetry (fG). The concentrates were derived from various minesites and they showed differing tendencies to ignite. Ignition temperatures ranged from 416 to 488°C and the extents of reaction, measured at 500°C, varied from 64 to 88 percent. The reactivity of the least reactivematerial was improved significantly by grinding. Particles <63/lm showed 85 percent oxidation compared with 55 - 65 percent for particles >63/lm.Examination of the individual sulphide minerals revealed that these materials also have significantly different degrees ofreactivity and are subject to particle size effects. For particles <45/lm, the ignition temperatures were as follows:ò pyrite and violarite 380 - 385°C; pentlandite 425 - 430°C; and pyrrhotite 470 - 475°;ò for particles >90 /lm, the ignition values were: pyrite 395 - 400°C;ò violarite 430 - 435°C; pyrrhotite 540 - 545°C; and pentlandite 560 - 565°C.Using the data on the individual minerals it was possible to rationalise the differing degrees of reactivity of the concentrates. The role of the most reactive constituent in initiating the ignition reaction has also been discussed.Finally, the results of this work were found to compare. favourably with the behaviour ofthe concentrates in industrial and pilot-scale flash smelters.

Jan 1, 1989

Statistics on the imports of industrial minerals into the EECshow that the traded volume in 1987 is approximately 23 million tonnes.The following table documents the imported quantities on the most important industrial minerals.

Jan 1, 1989

By Duane A. Smith

They are gone now. Gone like that long ago generation that gave them birth. The Homestake Mine, nestled in the northern Black Hills, closed in 2001 after 125 years, the longest run of any major American gold mine. The Homestake Mining Co., which guided its destiny for those many years, is gone too. It merged with Barrick Gold. The Hearst family, which guided the early destiny of both, has long since gone beyond its mining heritage and into the national and even international spotlight. The mine and the company passed from the scene with as little fanfare as heralded their birth, amid the Black Hills gold rush of the 1870s. They both grew into American mining legends, as did the town they sired and nurtured, Lead. In a real sense, the mine and the company symbolized one of the last links to a vanished world and a mining era.

Jan 1, 2003

Bio-Oxidation of Arsenic and Stibium Bearing Gold Ores Bio-oxidation of arsenic and stibium bearing gold ores with acidithiobacillus ferrooxidans was studied. The preoxidation results show that the best bio-oxidation technical parameters are the initial pH in the range of 1.8 ~ 2.0, particle sizes under 0.074 mm, temperature in the range of 25¦C ~ 30¦C and rotating speed of the orbital incubator in 100 rpm ~ 160 rpm. The leaching results show that If the ore, of which contain 10.37 per cent arsenic and 36.81 per cent stibium, is not bio-oxidised, gold leaching is only about 41 per cent, after 8 days oxidised, the result is about 76.55 per cent, which improved about 35.62 points. The relationship between gold leaching and arsenic oxidation is direct proportion, furthermore, it needs only partly oxidise and higher gold leaching could be get, for example, gold leaching is over 90 per cent when asenic oxidation is 60 per cent. The results will provide theoretical and technological supports of bio-oxidation arsenopyrite for pretreating refractory gold ores.

Sep 13, 2010

Phase equilibria have been determined experimentally for pseudo-ternary sections of the form ?MnO?-(CaO+MgO)-(SiO2+Al2O3) with a fixed Al2O3/SiO2 weight ratio of 0.17 and MgO/CaO weight ratios of 0.25 and 0.17 respectively for temperatures in the range 1473-1673 K. The primary phase fields present for the MgO/CaO weight ratio of 0.17 include manganosite (Mn,Mg,Ca)O; dicalcium silicate a-2(Ca,Mg,Mn)O?SiO2; merwinite 3CaO·(Mg,Mn)O·2SiO2; wollastonite [(Ca,Mg,Mn)O?SiO2]; diopside [(CaO,MgO,MnO,Al2O3)?SiO2]; tridymite (SiO2); tephroite [2(Mn,Mg)O?SiO2]; rhodonite [(Mn,Mg)O?SiO2] and melilite [2CaO?(MgO,MnO,Al2O3)?2(SiO2,Al2O3)]. For the section with MgO/CaO weight ratio of 0.25 the anorthite phase (CaO·Al2O3·2SiO2) is also present. The liquidus temperatures of ferro- and silico-manganese smelting slags have been determined. The liquidus temperatures at low MnO concentrations are shown to be principally dependent on the modified basicity weight ratio (CaO+MgO)/(SiO2+Al2O3).

Jan 1, 2004

By F. Malek

At Creighton Mine, magnitude events are a regular occurrence due to depth and major seismically-active structures. Over the last ten years, major advances have been made in research and development to develop strategies for the management of these major events. Today, the number of rockbursts has been drastically reduced at the mine and damage due to seismic events, when they occur, is often minimal. This paper describes the evolution and implementation of appropriate geomechanics strategies, designs, and practical ground control measures undertaken for the management of seismicity at Vale Inco?s Creighton Mine. A description of the research and development approach, implementation, and ground control strategy is provided for placement of enhanced support systems to manage the consequences of magnitude events at Creighton

May 1, 2009

By J. W. Paul, J. N. Geyer

"GENERAL STATEMENTThe purpose of this report, which is the first of a series of three covering mines in the Fairmont district of West Virginia, is to give the result of a' study conducted in seal mines to ascertain the nature of the safeguards employed to prevent injury to the workmen from falls of roof and coal. In presenting the subject matter, consideration must necessarily be given to factors, features, and conditions such as method of mining, timber regulations and practices, supervision and natural conditions; and, for comparative purposes, a certain amount of statistical matter bearing upon the relation of fatalities and injuries to their causes, tonnage produced, men employed, days worked, and time lost.Those features and practices found to promote safe protection are summarized and suggestions made for such additional safeguards and practices as appear to give greater protection against injury from falls of roof or coal.ACKNOWLEDGMENTSThis study of falls of roof and coal in mines in Harrison County has been conducted by the U. S. Bureau of Mines in cooperation with R. M. Lambie, chief of the Mining Department of the State of West Virginia who assigned L. W. Brown, a district mine inspector, to assist in the field work and in the preparation of individual reports on each mine visited in this study. The writers acknowledge the helpful suggestions and cooperation given by these officials, the latter of whom assisted in the field work and prop red most of these sketches for the individual reports which wore submitted to the operator by the chief of the department. Thin report is a summary of the contents of the individual reports heretofore furnished the individual operator."

Aug 1, 1931

By R. N. Powell

The Pipeline ore body was discovered in March 1991. The construction of the new mine and mill did not start until early March of 1996. Upon completion of permitting and corporate project approval, the 289 million USD project was “fast tracked”. The commissioning began 11 months after start of construction and the project ended 40 million USD under the budget figure. The objective of this paper is to review and highlight the Pipeline Project history from discovery, design, lawsuits, permitting, and re-design through to current - 1998operating practices. Particular emphasis will review the process design, design mistakes, and design successes. The paper will review project history, feasibility, design concepts, operator training, construction, financial and the current operation. Additional discussion will review what design features worked and which did not work within the process plant.

Jan 1, 1999

By H Ulrich Leiste, Leslie Talor

This paper describes a series of small scale tests conducted to investigate the loading applied to a flat plate by the detonation of a cylindrical charge very close (between two and three charge radii from the center of the charge) to the structure. The testing used very small quantities of explosive (PETN): Two different series of tests were conducted. In the first test series, impulse loading on the target plate was investigated using three different sizes of charge. In the second series, pressure time profiles were determined. The charge size was 6 g or less. Impulse was found using high speed video of the target plate to determine its displacement as a function of time, from which initial plate velocity was obtained. Kolsky Bars, placed at the same distance from the charge as the target plate, were used to determine the free-field pressure time profile of the output of the charge at this distance. Two different types of target plates were used in the impulse study. One was just a plate while the other was a plate constrained with a steel frame.

Jan 1, 2009

By P. Zhang

Previous studies have shown that separation of clay minerals from non-clay minerals is the key to economic recovery of the phosphate from the waste phosphatic clays (slime) which represent about 20- 300/0 of the phosphate mined. Small hydrocyclones of different sizes (4" and 6") were tested for sizing the slime at +10 microns in order to remove most of the clay minerals. The effect of design variables and operating parameters were evaluated. Multi-stage cycloning and the effect of dispersant were also investigated. Chemical and mineralogical analyses of different size fractions of both the underflow and overflow samples indicated satisfactorily separation efficiency.

Jan 1, 1998

By María Eugenia Castro, Silvia Galasso, Jorge Duca, Claudia Osuna, Ernesto Esparza

"We present a procedure for treatment of non-active solutions equivalent to the solutions obtained from dissolution of ionic exchange resins used in purification of a nuclear reactor primary cooling system containing Co, Ni, Cs and its isotropic varieties as main radioactivity source. Finally it is immobilized into a ferritic matrix by calcination which avoids its future leaching into environment.In order to achieve the objective of this treatment, a bivalent and a trivalent iron salt is added to the solution. Then, either a base or an acid is added, depending on the initial pH of the treated solution, with a Cs precipitating additive in order to reduce Co and Cs by precipitation, flocculation and adsorption. Controlling the amount of precipitating reactives it is possible to modify the activity/volume rate becoming a medium into a low radioactivity waste.The leaching test result applied over the ferritic sample is lower than the minimum limit established by law. Therefore, it can be kept safely in a interim storage."

Jan 1, 2008

By P Atkinson, M P. Simpson, J R. Kyle

BM37 is a bonanza-grade (>30 ppm Au) ore shoot of the Maria Lode of the Karangahake adularia-sericite epithermal deposit in the southern Hauraki Goldfield. Samples from BM37 contain up to weight percent gold. The ore shoot is a vein that pinches and swells, but is typically tens of cm thick, and locally exceeds 0.5 m in true width. Gold occurs as irregular anhedral electrum grains that range up to 300 microns across and contain 38 to 59 wt per cent Au (ave. 52 wt per cent Au). Electrum occurs in sulphide-rich bands in association with pyrite, chalcopyrite, acanthite, galena, sphalerite, and local covellite. Lower grade samples contain local to rare mckinstryite [(Ag, Cu) 2S] and polybasite [(Ag, Cu) 16 (As, Sb) 2S11]. Pyrite from BM37 is nearly stoichiometric; it lacks the As that commonly occurs at up to percent levels in pyrite from other veins in the goldfield. Acanthite also contains low quantities of trace metals, and typically has less than 2.5 per cent Se. The vein shows complex textures. Bonanza grade sulphide-rich ginguro bands form discrete layers adjacent to the vein margins, and occur as breccia fragments encased by later massive to comb quartz with local quartz after platy calcite. Both the breccia fragments and ginguro bands are cross-cut by later quartz veins. Textures thus indicate that formation of the high-grade portions of BM37 resulted from one or more discrete events that differed markedly from the events that formed the bulk of the vein.

Jan 1, 2006

By S Christensen

In August 2001 the Minister for Conservation declined an application by GRD Macraes for an access arrangement to enable work at the Globe Progress Mine near Reefton. In her decision, Ms Lee said:æI have considered whether potential compensation and the proposed safeguards against some of the adverse effects are sufficient to outweigh my concerns as to the loss of conservation values, consistency with the objectives of the Conservation Act, the purposes for which the land is held by the Crown and, to a lesser extent, the North Westland Regional Management Plan. I do not think they are sufficient. To my mind, my concerns as to the consistency with the objectives of the Conservation Act, the purposes for which the land is held and the loss of some conservation values in particular, outweigh any potential compensation and possible mitigation of adverse effects.Æ Commenting on the MinisterÆs decision Guy Salmon of the Ecological Foundation stated that the Minister should have invited the applicant to provide a 10 000 hectare pest-free wildlife sanctuary as part of the æpriceÆ for obtaining that access. However,æfor many people of green persuasion, it has become fashionable to say no every timeàthose who really have the well-being of the environment at heart, will want to look carefully at the bigger picture of environmental restoration needsàThe deciding criterion: the mining company should show that its involvement on conservation land would produce a net conservation gain. That is a criterion that creates the right incentives for win-win-win solutions on conservation land.ÆThis paper considers whether the concept of off site mitigation is one which fits within the current legal regime. Two questions arise:Can such mitigation/compensation be legally considered in access arrangements or required as a condition of resource consents? Is this a realistic option for industry to be pursuing?

Jan 1, 2002

By José Arce

El sistema AG-DAS entró en operaciones en 2015 y su aplicación tiene diversas ventajas sobre el método de polarización inducida convencional. El concepto del sistema fue el uso de múltiples receptores de dos canales, que registran la señal completa con sincronización de tiempo por GPS. La tecnología DAS (sistemas de configuración distribuida, por sus siglas en inglés) brinda mayor confiabilidad en la detección y modelamiento tridimensional de mineralización metálica con geometría compleja a profundidades de hasta más de 800 metros.

May 22, 2019

By E. P. Youngman

In the absence of any subsequent enactment of mining legislation, the Turkish mining law in effect in 1914, when Iraq became a British mandate, is still operative. The Constitution, or Organic Law, of Iraq, adopted by the Constituent Assembly on July 10, 1924, in articles 113 and 114, provides that:3 Ottoman en laws date and thao remained and lave pub- lished on or after that date and which have remained in force in Iraq u to the time of the publication of this law shall remain in force in Iraq' so far as circumstances permit, subject to any modi- fication or repeal in conformity with the proclamations, regula- tions, and laws referred to in the following article, and until they are altered or repealed by the legislative power or the High Court issues a decision rendering them null and void in accordance with the provisions of article 86. (Art. 113.) All proclamations, regulations, and laws by the Commander-in- Chief of His Britannic Majesty's Forces in Iraq, the Civil Commis- sioner, and the High Commissioner, and those issued by the Govern- ment of His Majesty King. Faisal, during the period between Novem- ber 5, 1914, and the date of the coming into force of this Consti- tution, shall be considered to be valid as from the date on which they came into force... (Art. 114.) 4 According to a German authority, it is the Turkish law of March 26, 1906, that, with a few modifications, is still in force. This law (similar to the French law of 1810) is discussed in a separate section of this paper.

Jan 1, 1933