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Obtaining financing for mining and exploration projects has been difficult for the last several years, particularly for junior companies. Today, though, the purse strings of investors appear to be loosening, leaving the industry with many questions about financing in the coming years. How have capital markets and exploration spending changed? Are there signs of improvement? Where has capital been raised in private, public markets, stock exchanges, private equity, etc.? What companies successfully raised capital in the last year? How are they spending it? How are traditional and alternative funding sources investing in mining? What are the issues mining companies need to know about when tapping alternative sources of capital? Those were some of the questions that were answered at the Current Trends in Mining Finance conference, sponsored by SME and the New York Section April 26-28. Held in New York City, the conference attracted 115 professionals who work on the finance and economic side of the mining industry. Three of the conference organizers talked with Mining Engineering about the conference and the state of financing in the industry today. Tim Alch (TA) is managing director with Behre Dolbear & Co. Alan Oshiki (AO) is executive vice president with the Abernathy MacGregor Group. Henry Weingarten (HW) is managing director with the Astrologers Fund Inc. Here is what they had to say.

By Kevin G. Stricklin

Introduction Continuous monitoring techniques have been used in the US and abroad for many years. A continuous miner has a monitor that measures methane and automatically gives a warning if the methane exceeds 1%. It deenergizes the continuous mining machine automatically at a maximum concentration of 2%. Main fans are also continually monitored to ensure operation. Alarms may also be given at a remote location should a fan slow or stop. The systems being developed can continuously monitor various gases and equipment throughout the mine and transmit pertinent data to a surface monitoring station. At this station, conditions throughout the mine can be monitored and, in some instances, controlled. These are known as Mine Wide Monitoring Systems (MWMS). History The use of environmental monitoring systems began in 1976 when a federal court approved the petition of modification to use belt air at the face. The first mine to receive a modification did install a system to supplement existing safeguards. Later, the Mine Safety and Health Administration (MSHA) and the US Bureau of Mines (USBM) conducted tests dealing with the use of belt air. Findings from these tests are being used to set guidelines as requirements of a petition. These requirements include: • Velocity of air has to be 0.25 to 1.5 m/sec (50 to 300 fpm); • Monitors will be installed at each belt drive and tailpiece and at intervals not to exceed 610 m (2000 ft); and • An alarm level of 10 ppm, above the ambient level is appropriate. The early uses of environmental monitoring could only be used outby the last open crosscut. That may be a reason for an initial slow growth of these systems. In June 1982, MSHA began evaluating systems that could be used in returns to ensure that monitoring systems being used in areas where permissible equipment is required does not of itself pose an explosion hazard. This is known as the Mine Wide Monitoring Systems Evaluations and Sensor Classification program. The evaluations and classifications granted are based on electric currents and voltages. Use of mine wide monitoring systems The environmental aspect of MWMS in today's coal industry deals with carbon monoxide (CO), methane (CH4), and air velocity. Just as all mines are different and encounter different problems, the MWMS are diverse and can be used to provide necessary data in all areas of coal mines. Mine operators in an ultragassy seam, for example, may be concerned with monitoring methane, while a mine that used diesel equipment may want to continuously monitor for diesel contaminants. In a mine with roof fall problems, airflow monitors may be helpful as an indication of whether the air is flowing in its normal course and at its normal volume. Today's MWMS can monitor any or all of these parameters. Most systems can be expanded as mining needs require. For example, a mine is now being monitored for methane and five years from now CO monitoring would help increase safety. It may be possible to use the same system by adding additional equipment. In the US, 30 environmental monitoring systems were installed from May 1985 through May 1986. In 1984 and 1985, there were 38 and 44 environmental monitoring systems in operation, respectively. Due to mine closings, 11 of these are no longer in use. However, the number of mines using environmental monitoring systems increased to 63. Use of these systems are not limited to any geographic area or

Jan 9, 1987

By Wayne Trudel, Eric Saderhold, Lloyd McEvers, Lori Clarke, Charles Lynn Bolin, Leroy Schutz

Editor’s note: This is the second part of a two-part series on how mine geologists added about 141t (4.53 million oz) at Newmont Mining’s gold operations in Nevada during 2003. Part one (ME, July2004, pp. 19-26) showed how cross-functional teamwork among mine geologists, engineers, metallurgists and operators added $65 million in revenues at Newmont’s Gold Quarry Mine. Part two deals with how this same cross-functional team added about 25.8 t (830,000 oz) of gold reserves and two years of life at the company’s LoneTree Mine. This was done through improved reconciliation methods, pit optimization designs and updated geotechnical parameters. Part two also discusses how Newmont’s Nevada mine personnel added about 62.2 t (2 million oz) of gold reserves at its Twin Creeks Mine, extending the mine’s life by several years. The Lone Tree Mine is a sediment-hosted, micron gold deposit. It is dominantly situated in the Golconda thrust footwall. The north-south trending Wayne Zone fault controls the highest-grade ores and

Jan 1, 2004

By Larry H. Heflin

The Washington Metropolitan Area Transit Authority's Wheaton Station and tunnel design was completed and offered for bid in the Spring of 1983. The format was unique to the Authority: a four part, four fiscal year contract developed in response to funding limitations with construction divided into four stages allowing the maximum amount of work to be done each year for the funds available. The bid was based on the entire contract, but was orginally awarded for only the first year's work. Each year's work had a maximum funding limitation thus safe guarding the Authority from a grossly unbalanced bid. The Authority's estimate for this work was $83,871,524. The low bid came in at 61% of this for a total low bid of $51,512,058. The low bidder was ILBAU America Corporation whose home offices are in Austria. Following receipt of the bids (and resolution of objections cited by other bidders who felt that the job could not be done for the $51 Million dollar figure), a Notice-To-Proceed was given on October 5, 1983. The construction contract allows a Value Engineering Change Proposal, called a VECP which is initiated and developed by the contractor to change the drawings, specifications or other requirements of the contract. Among other things the VECP should decrease the contract price while maintaining the service life, reliability, ease of maintenance, and standardized features and appearance and not require an unacceptable extension of the contract time. A VECP must estimate the amount of the net savings

Jan 1, 1985

By T. Robyn

The Bolivar Cu-Zn skarn deposit in the Piedras Verdes mining district of Chihuahua is one of many base and precious metal deposits in the north-northwest trending Sierra Madre Belt extending across the states of Chihuahua, Durango and Sonora in northwestern Mexico. The information presented here is drawn from two papers on the Bolivar property1,4 plus new information. Historical mining and exploration for polymetallic Cu-Zn-Pb-Ag-Au deposits in the Sierra Madre Belt dates to Spanish Colonial days. Access to the Bolivar Property (Figure 1) is by paved road (approximately 305 km southwest from Chihuahua) and approximately 80 km by all-season gravel roads to the villages of Cieneguita (population ~1,000) and Piedras Verdes (population ~500) adjacent to the property. [ ] The Bolivar property comprises an old Cu-Zn producer (the Bolivar Mine), exploration concessions adjacent to the Bolivar Mine, and a new camp at the mine that supports mining, exploration and maintenance. From 1980 to 2000, former operators extracted approximately 300,000 tonnes of ore that was hand sorted to an average grade of 5-6% Cu and 25-30% Zn. From 2005-2010, Dia Bras produced from the mine just over 600,000 tonnes at an average grade of 1.7% Cu and 8.6% Zn. Dia Bras transported mineralized rock 275 km by truck and rail to its Malpaso mill, located about 30 km west of Cuauhtémoc in central Chihuahua, from 2005 until October 2011 when the new Piedras Verde mill was commissioned only 5 km from the mine. (Note: the Company cannot use the term ?ore? because it has never completed a feasibility study.)

Jan 1, 2012

By Jacek B. Stypulkowski

This paper discusses the challenges faced by the design team of the under-river crossings of electric transmission feeders in New York City, a densely populated urban area. The under-river crossing of a 345 kV feeder was initially designed as Horizontal Directional Drilling (HDD), but was redesigned as a utility tunnel because of site con¬straints on both sides of the river. Multiple studies addressed location, available tech-nologies and costs. Multiple soil investigation phases addressed design aspects of HDD, as well as tunneling. Contractual issues varied from a design build alternative with Geotechnical Data Report (GDR) to design tender approach with GDR & Geotechnical Baseline Report (GBR).

By J. A. Ober

China, Mexico, Spain and Turkey are the leading producers of celestite (strontium sulfate), the most common strontium mineral. Of an estimated 510 kt (562,000 st) of celestite produced worldwide during 2004, 98 percent was produced in those countries. Deposits of strontianite (strontium carbonate), another strontium mineral, have been identified in China and Malawi. Relatively small quantities are reported from the deposit in China. Although celestite deposits occur in the United States, no domestic celestite has been mined since 1959.

Jan 1, 2005

By Jerry D. Pfarr, Gary Loving, David G. McDowall

Introduction The Open Cut is one of the best known landmarks in South Dakota's Black Hills. It is the site of the original discovery of the Homestake ledge, or lead, in 1876. Between that time and 1945, the Open Cut produced about 36 Mt (40 million st) of gold ore, the majority of which was drawn from underground operations. In 1981, a drilling program was undertaken to determine how much ore the old timers left behind. The results of this study indicated an ore body made up of broken and caved ground, and solid blocks in pillars and crowns. Reserves are estimated at about 6.8 Mt (7.5 million st) of gold ore, grading at 4 g/t (0.116 oz per st). Total tonnage of material, including waste, is estimated at more than 60 Mt (66 million st). The mining plan is a combination open pit and underground operations. The bottom 78 m (255 ft) will be mined by the underground panel-caving method. The open pit was designed as a contractor operation up to the expected milling stage or the point of sustained ore production. The pit was designed to avoid disturbance of US Highway 85 near Lead, SD. In 1983, the South Dakota Board of Minerals and Environment approved the mining and reclamation plan. Test mining began in the north of the Open Cut using open pit methods. Upon completion of the test pit, Homestake Mining's board of directors approved an expanded mine plan. They committed an additional $27.1 million to prestrip the ore body that is expected to yield 23 t (750,000 oz) of gold. Project life is estimated at 15 years. Exploration program In early 1980, 10 diamond drill holes were drilled from the surface in the vicinity of the east side of the Open Cut. The reserves delineated by that drilling were too small to justify their development. A continuation of this study attempted to quantify the tonnage remaining in the bottom of the Open Cut in the crushed remnants of old stope-and-crown pillars. This was originally thought to be minable by improved drawhole methods using highly mechanized procedures. By early 1981, however, thinking turned toward surface mining methods. The effort to quantify minable ore tonnage ultimately involved drilling 385 reverse-circulation rotary drill holes. These were drilled from August 1981 to March 1983 in several groups of holes. Each group, or drilling program, had a slightly different immediate goal or purpose. The holes were drilled to various depths using truck-mounted Drill Tech 40 drills with doublewalled 76 mm (3 in.) pipe with 134 mm (5.25 in.) three-cone rotary bits. Initially, wet drilling was employed using a cyclone collection system. Since cutting recovery was not as high as it should have been, all subsequent drilling was dry. The cuttings were collected and deposited by way of a cyclone into the sample bag. The pickup for the cuttings using the three-cone bits was about 50 mm (2 in.) above the bottom of the hole. Overall cutting recovery for the drilling program was estimated at 75%. Samples were taken on each 1.5 m (5 ft) of hole drilled. Each sample was split into three 48-g (1-2/3 assay ton) charges. The accepted value was the straight average of the three charges. Because of the known "nugget effect," assays were nearly impossible to duplicate. Therefore, to validate the regular assays, a series of screen fire assays were run. Based on this method of assays and checks, it was concluded that 10% more ounces would be produced than indicated by mine grade. Test pit The northernmost portion of the mine as planned is known as the Terraville test pit. This portion was mined ahead of the rest and separately. It provided answers to questions on slope stability, reserves correlation, mill recoveries, mining costs, and surface mining conditions in various weather and ground conditions since many boulders and much timber were expected. The mining plan for this portion of the pit was successful. More ore was mined than was expected. Mixing of Open Cut ore with underground ore in the mill feed was successful. Impact on the surrounding communities

Jan 10, 1987

By P. James

Blue Planet Strategies (BPS) focuses on improved resource utilization and targets converting wastes into resources. New BPS capability (DEMET) wrings extra value from mining and processing wastes by enabling new production from waste and residual sources. This powerful platform technology provides considerable processing flexibility and enables various new economical treatment options to extract key metals from low level and process byproduct stream sources normally left as waste by traditional processing methods.[1]

Feb 23, 2014

By Steve Skelhorn

Over the recent years, major advances have been made in design of precast concrete segmental tunnel liner. Starting from basic, parallel sided rings, we now have state of the art, universal rings incorporating custom tapers to suit individual requirements. At planning stage, the ring diameter is normally fixed and the ring geometry is one of the first items to be assessed. Obvious factors such as TBM layout and curve radius can constrain geometry; however, there others factors that should be considered in order to optimize production. This paper takes a look at the history of the segmental rings and criteria for ring selection, including: general ring geometry;; individual segment geometry; ring taper, and ring width. This paper also explores optimization of ring with a focus on constructability.

By W. Collingwood

As open pit mines continue to grow deeper and productivity continues to increase, the management of respirable dust and noxious gases can become a challenge. The natural wind flow in open pit mines is often recirculatory. This recirculation traps dust and gases in deep open pit mines. This problem is particularly acute in high latitude open pit mines due to a phenomenon known as an atmospheric inversion. In the winter, arctic and subarctic regions experience short days and long nights. This deficit of solar radiation creates a situation in which cold, still air accumulates near the bottom of the pit. In open pit mines, this can result in unhealthy accumulations of gases and other contaminants in the open pit mines. In this study, the natural wind flow patterns in and around open pit mines were investigated using a computational fluid dynamics (CFD) program. Two dimensional models were created for a variety of pit geometries. The effect of depth, slope angle, and wind speed on the recirculation pattern in the pit was examined.

Jan 1, 2011

By M. Ahrens

The paper describes the main drive systems of an iron ore pelletizing plant and related important design aspects. It is shown how today?s drive systems provide the desired flexibility for the process and lead to high energy efficiency and system reliability. With respect to electric drives expansion projects have many technical issues in common with green-field installations. However, there are aspects where important, distinct differences occur. It is shown which considerations for selecting and sizing drive systems for such a plant as well as for integrating them into an overall plant control concept need to be taken into account. Besides the design of the drive systems a key aspect for such an expansion project is the network interaction. Harmonics levels at different points in the plant network need to be checked carefully with simulations during the design phase to avoid problems later-on during operation. The power factor compensation and the harmonic filtering of the new production line cannot be designed independently of the already existing plant. The paper highlights areas where problems could occur and which points need to be paid attention to when a plant is expanded.

Jan 1, 2008

By F. W. DeVries, O. B. Mathre

Addition of Kastone® peroxygen compound and formaldehyde to cyanide gold extraction process effluents, containing at least 5 mg soluble copper per liter, will oxidize acid-dissociable cyanide to levels less than 0.2 mg per liter, without appreciable oxidation of thiocyanate. Most of the copper precipitates and is removed by filtration of the treated solutions. The treatment can be completed in less than 2 hours when the excess of hydrogen peroxide over the cyanide is about 75-100 mg per liter. The excess hydrogen peroxide destroys residual formaldehyde and then is catalytically decomposed by the copper-containing solids that separate, so it will not interfere with subsequent operation. A pilot plant using this technology has been operated for more than four months at rates from 1-2 gpm. Clear, filtered effluent containing less than 0.2 mg acid-dissociable cyanide per liter has been produced.

Jan 1, 1981

By K. Ward

The Environmental Protection Agency (EPA) is beginning to provide compliance assistance visits to various industries, including mining, for Emergency Planning and Community Right-to-Know Act (EPCRA) compliance. The EPA inspectors may consist of a multi-media team deployed to review systems and procedures for EPCRA Sections 302, 304, 311, and 312. The Team’s focus may include emergency response plans, training programs, qualifications of personnel, and release notification protocols. This presentation takes a look at the EPCRA compliance challenges faced by Arizona copper mining and processing facilities.

Jan 1, 2001

By L. A. Ruth

Vision 21 is a government/industry/academia cost-shared partnership to develop the technology basis for integrated energy plants that will, early in the 21stcentury, result in the deployment of ultra-clean plants that produce electricity and “opportunity” products. Vision 21 plants will use fossil fuel feed-stocks in combination with other domestic resources, e.g., biomass, municipal waste, and petroleum coke. Opportunity products could include transportation fuels, steam, high-value chemicals, synthesis gas, and hydrogen. Performance targets for Vision 21 plants, example plant configurations, and the key technologies that will be needed are described.

Jan 1, 2000

By Richard R. Klimpel

During the last 28 years, I have had the very challenging and rewarding experience of working as an engineering professional in a large multinational company, both as a manager of engineers and engineering projects as well as an inventor and generator of new engineering processes and products. Due to the diversified geographic and tech¬nical nature of my employer's business, my responsibilities have taken me all over the world. This has included interactions with people in different industries including minerals, coal, chemicals, petroleum, pulp and paper, agriculture and pharmaceuticals. As diverse as my experience may seem, it has always amazed me how common the basic underlying technology and economic trends are that shape the working environment that any given engineer in any given geographic loca¬tion will experience. I would like to discuss the industrial evolution from micro to macro engineering. One of the basic truths behind how industry must and will operate is "change," including: • the creation of conditions for change, • the anticipation of change, • the resistance to change, • the rewards that being part of a change can bring and • the destruction that change can bring to the unprepared. This fact was well stated by Heractitus around 500 BC.: "There is nothing permanent except change." This simple truth has been valid since the dawn of time and, if anything, is accelerating in nature every decade.

Jan 1, 1993

By Robert M. Valentine, Randall L. Lentell

Interpretive geotechnical investigations were performed for the construction of approximately 15,250 m (50,000 ft) of wastewater interceptor tunnels in Austin, Texas. Subsurface materials consist of claystone (or clay shale), siltstone, altered volcanic tuffs, chalk and limestone. Special conditions include multiple crossings of Onion Creek with cover ranging from about 1/2 to 3 m (2 to 10 ft.), and the potential for mixed-face conditions consisting of water-bearing gravels overlying clay shale or siltstone. The methods and results of the geotechnical investigations are discussed and the inferred construction conditions are compared to those encountered during tunneling. A suggested format is presented for interpretive geotechnical reports for underground construction projects.

Jan 1, 1985

By K. Short

Over the past several years, the mining and minerals market was overloaded with discussions around reviving mature terminologies like distributed control systems (DCS), programmable logic controllers (PLC), and the ?new comers?: hybrid control systems (HCS) and programmable automation controllers (PAC) and, in parallel, which technologies would be more appropriate for mining and mineral processing applications. Ten years ago, a careful comparative analysis would make more sense. Control approaches had very distinctive differences where users needed to choose the right approach.

Jan 1, 2012

By P. Roghanchi

The Rock Mass Rating (RMR) system is an internationally recognized classification system that can be used for preliminary ground control design. The RMR system assigns quantifiable values to predefined classified parameters of a rock mass. Assigning a single value rather than a range to each parameter is a source of uncertainty, however, assigning a single value can be useful for further studies related to RMR ratings. Fuzzy systems are being used in an increasing number of application areas where linguistic rules are used to describe the system. In past decades, fuzzy systems have been successfully used in geotechnical and mining engineering problems to cope with uncertain data as well as with vagueness. In such scenarios, linguistic rules and rating-based classification of rock masses have always been questionable. The objective of this study is to apply fuzzy set theory to the RMR classification system. The fuzzy system proposed in this study is specified for weak and very weak rock masses (RMR<50) based on data collected from Nevada gold mines where 68% of RMR data is in the ?poor? and ?very poor? classes. In this approach, a Mamdani fuzzy algorithm has been constructed to evaluate basic RMR89 rating for the ?wet condition.? Comparison between basic RMR89 and fuzzy RMR shows the fuzzy RMR system is valid to predict RMR from the discrete rating of each input parameter.

Feb 27, 2013

By S. Frimpong

The cable shovel excavator is used for primary production in many surface mining operations. A major problem in shovel excavation is the variability of material diggability, resulting in varying mechanical energy input and stress loading of shovel dipper-and-tooth assembly across the working bench. This variability has a huge impact on the shovel dipper and tooth assembly in hard formations. In addition, the geometrical constraints within the working environment impose production limitations resulting in low production efficiency and high operating costs. A potential solution to the above problems is the application of an intelligent cable shovel excavation(ICSE) technology. In this paper, dynamic models of the cable shovel excavator are developed with numerical examples. These models form the basis for developing dynamic shovel simulators for an intelligent shovel excavation technology. The dynamic equations are developed using the Newton-Euler techniques. The path trajectories for efficient excavation, dynamic velocity and acceleration profiles, and dimensioned parameters for optimum feed force, torques and momentum of shovel boom-bucket assembly are modeled and used for efficient excavation. The optimum digging forces and resistances for the cable shovel excavator are modeled and used to predict optimum excavation performance.

Jan 1, 2003