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By L. Nahai

An important objective of the Australian Government's policies on resources development is to encourage further processing of raw materials domestically, to the extent that this is economically feasible and consistent with sound industrial development. This Bureau of Mines report examines the extent to which Australia is able to pursue this policy in terms of its own competitive advantages and the implications of such a policy for the United States. Such factors as the impact of other competing producers and their advantages, expected world demand, and infrastructural problem--which may limit pursuit of this policy to the fullest extent--are discussed. After a broad review of the re-source, economic, social, and environmental factors, the perspective for increased processing is examined for a number of mineral commodities.

Jan 1, 1982

By S M. Loewen, J J. Fuykschot

Located in the north-west of Kazakhstan is a world-class podiform chromite deposit. Donskoy mining and beneficiation complex (DGOK), a branch of Kazchrome TNC, which is a subsidiary of the Eurasian Resources Group (ERG) operates two underground mines in this area, one of which is the ‘10th Anniversary of Kazakhstan Independence’ (DNK) mine.The mine currently applies the gravity caving mining method, producing 1.8 Mt/a of ore utilising a slusher layout and rail transport to the hoisting shafts. The deeper zones form the largest mineral resources at the DNK mine and are planned to be developed in the next several years. At this depth, the generally poor ground conditions, combined with the high in situ stress state will potentially lead to extremely challenging mining conditions.This paper describes a technical study undertaken by SRK to determine the possibility of increasing the maximum production rate from the currently envisaged 6.0 Mt/a to 7.2 Mt/a, and to reduce the time taken to steady state production.Based on a newly created 3D model, the inclined caving method was proposed for the largest orebodies. This method, presently not implemented at any operating mine, although planned for two other projects, was deemed very suitable to deal with the weak rock mass characteristics and the plunging morphology of the mineralisation.Dassault Systèmes’ GEOVIA’s Footprint Finder software (a module of GEOVIA’s PCBC™) was used to determine the caving zones and production schedules. The total mine design was completed in Deswik software, and resulting schedules combined in Excel.In addition to the use of an inclined caving method, several other suggestions were made to increase the productivity of the mine, such as the application of a conveyor belt system transporting multiple material types, teleremote technologies and the application of thin sprayed liners to reduce the swelling of the rock mass.CITATION:Fuykschot, J J and Loewen, S M, 2016. Inclined caving option for the DNK mine, Kazakhstan, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 669–682 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By P. L. Russell, M. E. Volin, F. L. C. Price, D. H. Mullen

Tin deposits in Catron County, New Mexico, were explored by the Bureau of Mines under authority of the Strategic Minerals Act of August 1939. The investigation covered both lode and placer deposits and was later extended to deposits in Sierra County. Six of the known deposits were examined by E. D. Gardner, supervising engineer of the Southwest Experiment Station of the Bureau of Mines, and S. G. Lasky, a geologist of the Federal Geological Survey, in June and July 1939. It was recommended that the more promising occurrences be explored by test pitting, trenching, and sampling. Field work, under supervision of M. E. Volin, began in September and continued through December 1939. The area was mapped by Carl Fries, Jr., of the Federal Geological Survey, in 1939 and 1940. The La Cruz Development Co. acquired control of the Squaw Creek placer claims in 1942 and began active sampling and development preliminary to large-scale operations. The result of this work showed a considerably higher tin content than that found by the Bureau of Mines in 1939. Because of this report and reports from other parts of the district that large-scale operations for the production of tin from lode deposits were possible, it was recommended that the Bureau of Mines resample parts of Squaw Creek and conduct a mill test of lode material to determine whether a concentrate could be made that was high enough in tin and low enough in iron to be acceptable in American smelting practice. This work, under the supervision of Paul L. Russell, was begun in November 1942 and completed in January 1943, during which time the Sierra Metals Co. acquired control of a large area in Sawmill Canyon. At the suggestion of the Federal Geological Survey and the War Production Board, which had reason to believe that a great deal of commercial material existed on certain flatlands and gully slopes, the project was extended to include test pitting and sampling of those areas. This work was completed in February 1943.

May 1, 1947

By A. Koster, V. Maurel, S. Dezecot, Szmytka. F.

The aim of this work is to clarify the role of microstructure heterogeneity in the initiation and growth of cracks in a lost foam cast A319 for low cycle fatigue (LCF) loading condition. Because 2D analysis fail to establish the scenario of damage events, this study is based on 3D in situ analysis using synchrotron X-ray tomography during LCF test performed at 200°C. If X-ray tomography is now an established technique to study damage development in 3D, its application for relatively high temperature cyclic tests has never been done so far. Initial 3D observations of damage show that the cracks that lead to fracture initiate near large pores and propagate into the hard particles 3D network of the eutectic regions.

Jan 1, 2015

By Sidiney Nascimento Silva

O presente trabalho teve como principal objetivo avaliar, em escalas laboratorial e industrial, a viabilidade técnica e financeira da aplicação da escória de Aciaria LD (EAC), em combinação com a escória granulada de Alto-Forno (EAF), à produção de Cimento Portland CP III. O projeto de pesquisa em questão foi desenvolvido pela CSN, através de Convênio de Cooperação Técnica e Econômica com a Escola de Engenharia de Lorena, EEL, da Universidade de São Paulo, USP, e compreendeu as seguintes etapas: i) caracterização físico-química e mineralógica da escória de Aciaria LD da CSN; ii) desenvolvimento do processo adicional de beneficiamento da EAC para aplicação na produção de cimento; iii) testes laboratoriais visando a avaliar a viabilidade técnica; iv) testes industriais com a finalidade de validar os testes laboratoriais e selecionar a formulação de melhor desempenho; v) estudo de viabilidade financeira; e vi) implantação do projeto. A aplicação da escória de Aciaria LD da CSN na produção de Cimento Portland CP III, em combinação com a escória de Alto-Forno e clínquer, é viável técnica e financeiramente. Isso traz reflexos positivos para o aumento da competitividade do negócio Cimento, aumenta a recuperação de metálicos para reciclagem nos processos siderúrgicos da UPV (negócio Siderurgia) e reduz passivos ambientais.

Aug 16, 2017

By C. A. C. Sequeira, G. N. Anastassakis

Electrochemical processes occur on nano-, micro- and macro- scale in numerous applications such as fuel cells, batteries, hydrogen production, mineral extraction, water treatment, electrotherapy, sensors and many others. In most of these applications, gases evolve either at one or both electrodes due to electrolysis. These gases form bubbles play a crucial role in electrochemical systems. For example, in electrowinning (EW) that is used to extract and refine metals such as Cu, Zn, Ni, Mn, and Cd from their solutions, in most cases the solution is acidic and oxidation of water molecules at the anode is the common counter reaction, which results in the liberation of oxygen bubbles. This generally requires a high overpotential and accounts for a considerable percentage of the energy consumed in metal EW electrolytic cells, apart from producing acid mist that is very corrosive for other cell equipment and building structures. The behaviour of bubbles in electrochemical systems is still a complex challenging topic which requires a better understanding of gas bubbles hydrodynamics and their interactions with electrode surface and bulk liquid, as well as between the bubbles themselves. The objective of the current paper is to briefly review the fundamental hydrodynamics of both gas bubbles on the electrode surface and gas bubbles interaction with the liquid bulk solution. The current work also investigates the impact of gas bubbling and some operating parameters in copper EW, such as current density (100-500 A/m2), temperature (25-75ºC), acidity (50-300 g/L) and a typical chemical mist suppressant (<50 ppm). The results clearly show that both suppressant and temperature reduced the overall surface tension of the solution. Also, chloride concentration and applied current improved electrolyte flow and copper quality at higher current densities. The current paper contributes to the development of mineral processing (specifically to copper hydrometallurgy), as it deals with fundamental hydrodynamics and interactions of gas bubbles that formed during copper EW and play a crucial role in copper electrochemical systems.

Jan 1, 2018

By David H. Sanders, Ramin Motamed, Fahim M. Bhuiyan, Raj V. Siddharthan

Large-diameter drilled shafts (DS) are a critical part of a seismic-resistant system, and therefore it is important to be able to accurately model lateral resistance. To undertake the lateral load analysis of largediameter DS, a finite-difference p-y analysis program, NVShaft, is being developed at the University of Nevada Reno. Validation of the new program involved numerous p-y analyses using commercially available programs. Subsequent comparisons suggested the program's ability to yield reasonable predictions for typical diameter DS. Based on the I-15/US 95 load test program carried out in Las Vegas, NV, this study presents the evaluation of NVShaft in Nevada’s subsurface condition. Lateral load analyses of a 2 ft and an 8 ft diameter DS were attempted using NVShaft. The location of the applied lateral loads and the presence of cemented soil-layers were incorporated in the modeling. A good agreement between NVShaft prediction and the measured response was found for the 2 ft diameter DS. For the 8 ft diameter DS, a stiffer response was predicted. The inspections of the moment-curvature characteristics at different load levels suggested cracked response of the concrete due to prior axial load testing may be one of the reasons behind the deviation.

By R J. Butcher

Many deposits have been evaluated as potential block caves over the last 20 years due to the perceived benefit of low operating costs. However, block cave projects are typically capital intensive, with mass mining providing high throughput rates that required large investments in mining, processing and utilities infrastructure. While the key economic metrics in deciding to proceed with a caving project are typically net present value (NPV) or internal rate of return, these may not represent the best decision metrics for some companies. Where a caving project is competing for scarce capital amongst other projects in a company’s portfolio or where the caving project is the only project being evaluated by a company trying to raise capital, other metrics may be more appropriate. This paper explores the use of present value ratio and the minimising of maximum negative cash flow as suitable metrics in determining alternative strategies. Trade-offs between optimising for economic value and capital efficiency measures allow for decision-makers to evaluate potentially higher-risk, higher-capital and maximum NPV projects against lower-risk, lower-capital projects.CITATION:Stewart, C A and Butcher, R J, 2016. Block cave evaluation, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 809–816 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By G. Fuentes, J. Viñals

"The nature and basic kinetics of the hydrothermal reactions of bornite, covellite pyrite and enargite with copper sulfate solutions were investigated, as a previous study on the behavior of the bulk Chilean copper concentrates. The reaction of bornite produced digenite at 160 °C and djurleite above this temperature. Covellite was transformed to digenite at < 200 °C and to chalcocite (Q and M) at > 200 °C. The pyrite reaction was significant at > 200 °C and extensive at 240 °C, enargite reacts only above 240°C and produces digenite. The hydrothermal treatment of Chilean Codelco-type copper concentrates with hydrothermal reactions was similar to those obtained from pure mineral samples.INTRODUCTIONStudies on the hydrothermal enrichment of chalcopyrite concentrates were begun by MacGauley and Roberts (1951), Roberts et al. (1953) and MacGauley and Schaufelberger (1956). In the 1970's these processes were reexamined by McKay et al. (1972), and Johnson and Coltrinari (1976), but it not was until the 1990s when the kinetics, mechanisms and full engineering aspects were studied by Barlett, (1992), Jang and Wadsworth, (1994) and Peterson and Wadsworth (1994). The main objectives were to solve some important problems in the copper pyrometallurgy: The increase of the smelting capacity, the reduction of the iron slag – and associated copper losses – as well as the reduction of sulfur emissions. The present rise in copper demand and price implies the production and subsequent treatment of very impure concentrates. Thus, a significant increase of environmental problems can be expected in the copper pyrometallurgy. The previous purification of concentrates can reduce the processing of wastes containing hazardous heavy metals in the copper refineries and the hydrothermal treatment can be an alternative which combines both enrichment and purification. On the other hand, Chuquicamatatype concentrates (Viñals et al., 2004a) contains digenite (Cu1.8S), pyrite (FeS2), chalcopyrite(CuFeS2), b ornite (Cu5FeS4), covellite (CuS) and sphalerite (ZnS) as the main mineral components, with minor amounts of enargite (Cu3AsS4), galena (PbS) and molybdenite (MoS2)."

Jan 1, 2012

By John F. Wiss

A series of controlled experiments was conducted at four surface coal mines to study the effects of certain blast parameters upon the ground and air vibration. Preliminary scale-model blasts were conducted at a quarry to provide basic data. It was found that the amplitudes of the ground and air vibration were controlled by the maximum explosive weight per delay. Either cube root or square root scaling could be used for the seismic amplitudes, and cube root scaling could be used for the overpressure amplitudes. Both amplitudes were not significantly affected by the total charge weight per blast, the attitude of the boreholes, or the charge length or diameter. The overpressure amplitudes were affected by the charge depth, the use of cover over surface detonating cord, and the use of adequate stemming. The length of the delay intervals and the spacing of holes were important in determining&apos; the potential fur reinforcement of the amplitudes in certain directions from the blasts. In downwind directions from the blast, the attenuation of the overpressure with distance decreases. Surface terrain did not significantly affect the overpressure amplitudes within the range investigated. The type of overburden affects the generation of both amplitudes and the propagation of the seismic amplitudes. Spectral analysis of the ground and air vibration is reported. A bibliography of pertinent literature is included as an appendix. A scaled distance of 300 ft/lb1/3 should produce a peak particle velocity of less than 1 ips and an overpressure of less than 128 dB linear peak. For square root scaling, a scaled distance of 75 ft/lbl/2 should limit the ground vibration to less than 1 ips.

Jan 1, 1978

By Claudeir Carvalho Silveira

Para produzir os aços bifásicos galvanizados com revestimento de Zn-Fe as tecnologias de galvanização foram adaptadas visando à produção de aços com alta resistência, resistentes à corrosão e boa conformabilidade. Desta forma, e considerando as deformações obtidas na estampagem tornou importante a caracterização em laboratório da influência do nível e do caminho de deformação na geração de trincas do revestimento com Zn-Fe aplicado a um aço bifásico. O presente trabalho avaliou o efeito dos caminhos de Deformação Uniaxial, Deformação Plana e Estiramento Biaxial Simétrico na evolução das trincas do revestimento Zinco-Ferro (Galvannealed-GA) e sua conectividade considerando o aço base Dual Phase 600. Foi observado que aumento da área composta por trincas ocorre com o aumento do nível de deformação para todos os caminhos avaliados. O Estiramento Biaxial Simétrico foi o caminho de deformação que mais influenciou no aumento da área com trincas na superfície do revestimento e na conexão destas trincas com o aço base. Isso ocorreu em função do estado de tensão (tração-tração) imposta à superfície e à seção dos revestimentos. Mesmo sendo observada a conectividade das trincas com o aço base não foi verificado visualmente defeitos de desplacamento do revestimento tais como Powdering e Flaking.

Aug 16, 2017

By John C. Machisak

STATISTICAL data on injuries and employment pertinent to metal mines and to their mills, and/or processing plants are presented in this Information Circular for the calendar year 1960. The information pertains to metal mines, as well as ore-dressing plants and primary nonferrous smelters, refineries and reduction plants, and their auxiliary works. These data are voluntarily submitted annually to the Bureau of Mines by the operators, and contribute greatly toward the promotion of safety in the mineral industries. The data presented are classified according to the principal mineral produced and include information on copper, iron, lead-zinc, gold-silver lode, gold placer, uranium-vanadium and miscellaneous metals. A breakdown of miscellaneous metals by commodities is shown in table 19, page 41. The data also relate to workers engaged in production, exploration, development, construction, and maintenance and repair work, as well as supervisory personnel and office- workers at the mine or plant site. Injury and employment data at metal mines and metallurgical plants in the United States for 1960 are shown under the following general sections:

Jan 1, 1963

There is no doubt that the mining sector is considered to be the backbone of many countries. Furthermore, it has played an important role in the prosperity of nations, whether developed or developing. Saudi Arabia is one of these countries that has a large variety of metallic and non-metallic mineral resources that range in size and value occurrences of limited potential to deposits large enough to sustain profitable exploitation. Therefore, the Saudi government needs to reinforce the capacity of the sectoral institutions to better regulate and promote the sustainable development of the sector. The ability to overcome the administrative and legal complications that constrain private sector participation in the minerals sector, through new mining code which will streamline the procedures for obtaining licenses and will add more predictability and transparency to the application process, are proposed for increasing the sustainable development. This paper will outline how the Saudi government is tackling the major challenges that face the minerals industry. This paper provides the background to the Saudi Arabian mineral sector and its industrial base. Finally, the paper identifies the problems and constraints that face the minerals sector in Saudi Arabia and provides an assessment of the effects of government policies and planning efforts in the minerals sector, particularly during the period of the development plans which started in 1970.

Jan 1, 2009

By F. D. Stevenson

A metal diaphragm pressure relay system was constructed to measure vapor pressures of the metal halides, oxyhalides, and other substances at temperatures up to 700° or 800° C. The vapor pressure of arsenic (III) oxide (As2O3) was determined to verify the reliability of the apparatus for such measurements. The data for the liquid AS2 Os (2820 to 4830 C) are represented by the equation, log Pmm = 6.875 - 2,929/T, from which the normal boiling point was calculated to be 461° C. The heat of vaporization calculated from this equation was 13.40 ±0.09 kcal/g mole As4OS and is essentially constant over the interval studied. The melting point of the octahedral arsenic (III) oxide was determined to be 278° C from the inter-section of the solid and liquid vapor pressure curves, A thermal analysis apparatus is also described by which melting and transition temperatures could be checked by a method independent of vapor pressure data. The melting points of the monoclinic and octahedral forms were determined to be 314.4 ±1.4° C and 278 ±5° C, respectively.

Jan 1, 1963

By K. Loutet, A. Guenkel, K. Nikolaisen

"The INCO SO2/air process was patented by INCO in 1985. Well over 80 mining operations worldwide are using this process to oxidize cyanides to cyanates in the tailings from gold, silver and copper mining operations. The sulphur dioxide (SO2) for this process can be supplied either as liquid SO2, SO2 gas or as a sulphite-based salt. The majority of SO2/air operations have used sulphite-based salts as the ‘SO2’ equivalent probably due to low capital cost. Liquid SO2 has also been used frequently, but due to concerns with safety and availability, this option is often not preferred. The solid salt sodium meta-bisulphite (SMBS) is commonly employed, but its cost is an order of magnitude higher than that of sulphur. Due to the high cost of SMBS, the increased capital cost for a sulphur-burning SO2 gas plant (green field or retrofit) usually has a pay-back of less than three years. In addition, a SO2 gas plant offers potential for significant heat recovery from the sulphur burning process. In terms of safety, the SO2 gas plant only requires the storage of relatively benign sulphur and the site inventory of SO2 will be limited to the plant gas volume. Therefore, a SO2 gas plant will not trigger the Canadian Environmental Protection Act (CEPA) E2 Regulations or the US Clean Air Act Section 112(r) accident prevention regulations, as may be the case for liquid SO2.Most existing mining operations using ‘SO2’ are gold operations, but in recent years there has been an increased interest in larger sulphur dioxide gas plants for hydrometallurgical facilities that employ leaching of cobalt/manganese minerals or precipitation of manganese/iron (e.g. Tenke Fungurume and El Boleo).This paper focuses on the production of sulphur dioxide gas generated on site and on demand for the use in hydrometallurgical processes. The capital and operational costs of a SO2 gas plant is compared to conventional process alternatives using sulphite-based salts or liquid SO2."

Jan 1, 2016

By E. M. Murphy

Comparative data from ASTM method of test E-162 and large-scale trials in the Experimental Mine show that the flame-spread quality of brattice cloth and other ventilation control materials can effectively be evaluated by either method. Materials having a flame spread index of 25 or less, as determined by the simpler and more economical laboratory test ASTM E-162, do not present a serious fire hazard when used in coal mines.

Jan 1, 1972

By W. J. Kennedy, John D. Gardner

Introduction During the past 10 years, energy costs in mining have risen from about 4% to as much as 25% of total production cost. When combined with declining ore grades, these costs exert inordinate stress on mine productivity. Industrial engineering techniques have traditionally been aimed at improving manufacturing facilities productivity, but they have been applied to mining as pressure for productivity improvement has increased. These techniques can perform four useful functions for mining operations by improving methods, equipment selection procedures, energy use through scheduling, and managing energy costs rather than being managed by them. This article discusses some of the standard techniques for productivity improvement, and how they can be adapted to perform these four functions. Pre-Production The best time to seek high productivity is when a mine is being planned. During pre-production, when most options are still open, an optimum mine design is achievable. At this time, major equipment selections are made, the layout, material handling systems, and processes are designed, and critical energy source decisions are made. By including explicit energy cost projections, decisions can be made that will save significant amounts of money per ton of ore over the life of the mine. Attention can also be given to often overlooked details such as lighting. Some of the same tools used in new mine planning are applicable to productivity improvements at an existing plant. These tools are the charting and modeling methods that have been developed by industrial engineers over the past 75 years. Energy Consumption Before any analysis of energy consumption can be performed, preliminary work is necessary to find the kind of energy used, how much it costs the plant, and when electrical peaks occur. Past bills should be examined to determine the monthly consumption rate and the cost of each energy type. These data should be adjusted to remove effects caused by production fluctuations or weather. Knowing when electrical peak demands occur is necessary because these determine either the electrical capacity needed or the amount that must be bought. At $500-$800 per kW for construction or $5-$15 per kW per month for purchase, they represent a significant cost. By the time these data are collected, planners should be aware of the importance of energy in the total cost of mine operation, and should have the most crucial time data for electrical peak demand. Flow Process Chart Reducing costs can be accomplished by a thorough look at mine systems and how altering one system causes changes in others. By developing and exercising models of production processes outward to the transportation of the final product, otherwise obscured weaknesses may become apparent. There are tools available for analyzing the mine and its associated systems; one of the most useful is the flow process chart. The flow process chart gives a system analysis of a production procedure by classifying all actions into one of five types: operations, inspections, transportation, delays without paperwork, and delays with paperwork. Operation: In an operation, the nature of something is changed. Examples are blasting, washing coal, and processing matter. Denoted by 0. Inspection: Examining an object for identification or to measure some attribute. Examples are determining whether a drill hole is deep enough, deciding how far to cut under an unsupported roof when operating a continuous miner, or checking the lubricant level on a truck. Denoted bye. Transportation: Moving an object from one place to another. Examples are transporting overburden, moving coal on a conveyor belt, and pumping water. Denoted by =>. Delay without paperwork: A delay that is an inherent part of the system. Examples include idle time of a continuous miner while waiting for shuttle cars or for roof bolting, crushed ore in a storage area waiting for grinding and flotation, and people from one craft waiting for another craft to finish. Denoted by D. Delay with paperwork: A delay that can be terminated only by some written authorization. Examples are coal that cannot be removed until authorized by a bill of sale and transportation orders, personnel records, maintenance, or spare parts. Denoted by V. In practice, the flow process chart is completed after data collection and a detailed examination of the process. Data collection is needed to answer questions on distance, quantity, and time for each of the operations. As the analysis is being performed, each step of the process is subjected to these questions: • Why is the step necessary? • What is being moved? • When does the step take place, and why?

Jan 11, 1983

Predicting the future is a task that should always be delegated. If that is not possible, then stating your views confidently, but retrospectively, is preferable. Hindsight encourages clarity of thought and sharpens perception. When all else fails one can look back into history and see the trends, evaluate the current situation and project it a little way into the future - in this case 10 years. In exploration the rate of change has been increasing over the past 20 years. With expected developments in technology, legislation, and their sociological impacts, we will see such rapid change over the next decade as to make us uncomfortable, unless we are prepared for it. &nbsp; The social obligations of our industry also have changed enormously over the past 20 years and are still changing. This will lead to further changes in the way we conduct our business if we wish to stay in business. As exploration technology improves, a further dimension is added by the expectations of the communities in which we operate. This extra dimension needs to be quantified so that we not only keep up with current developments but also get ahead of the game. This paper is based on the New Zealand experience, some of which will be familiar to mineral explorers in other countries.

Jan 1, 1997

By B. Berhe, R. D. Lawrence, J. Hinzer

"The fortunes of mining companies and their implied value are tied to cycles - both economic and commodity – within which they operate. Hence the determination of appropriate future metal prices is one of the most critical factors faced by mineral valuators especially for advanced projects. Price, and hence revenue, is usually the most sensitive input to the valuation model. Empirical studies of past forecasts show that the success rate for commodity price forecasting is very poor. This paper explores various approaches and comments on their strengths and weaknesses. We conclude that careful evaluation of long-term metal prices is a key element and is hardly a luxury that can be left to simple averages or rules of thumb. INTRODUCTION Discounted Cash Flow (""DCF"") analysis, is well suited for the valuation of advanced mineral development assets, for which there are identified mineral resources and some form of economic assessment (Pre-Feasibility or Feasibility Study). The DCF method is also the most commonly used method for determining value for such assets. It provides a means of relating the magnitude of expected future cash flows from profits (or losses) to the magnitude of the initial cash flow (investment) needed for capital expenditures to purchase or to develop an asset for commercial production. The method proves useful in making investment decisions as it allows for the quantification of the Net Present Value (“NPV”), as well as the Internal Rate of Return (IRR) and Payback Period on initial investment capital. Valuation by its very nature is a forward-looking exercise. The DCF method attempts to estimate the NPV of expected future cash flows, by selecting factors that will likely affect future cash flow based on informed analysis. One of the most critical and sensitive factors is the determination of appropriate future commodity prices. “The variables that have the greatest impact on a DCF evaluation are the reserves, the metal prices, and the discount rate.”1 The determination of future commodity prices for valuation purpose or during M&A negotiations is a hotly contested issue. There are a number of analysts, institutions and specialized commercial data suppliers that provide both short and long-term commodities price forecasts. Also, the use of an aggregated mean for all available forecasts, or consensus forecasted prices for valuation purposes is not uncommon. The methods used in making forecasts for each forecaster may vary and in many cases may not be publically disclosed. Nonetheless, the aggregated mean of all forecasted commodity prices of reputed institutions is usually taken to “represent the market’s view of likely future commodity prices.”"

Jan 1, 2016

By Roy F. Waters

An inventory was made by the Bureau of Mines of wastes of mineral origin, water requirements, treatment of wastes, and water treatment practice of 163 industrial installations in the Lower Missouri River Basin. This is the second and concluding report on the survey, conducted in cooperation with the Missouri Basin Field Committee of the Department of the Interior as part of the Missouri Basin project. Principal industries covered by this second report are: Sand and gravel, coal, meat, ice, brewing, paint, petroleum, chemical, fabricated metals, and a number of industries having either no waterborne wastes, or none of mineral origin. Gravel, sand, and silt from 47 producers are the major wastes, totaling 6 million tons annually, Coal mine wastes in the form of slurried solids from washing crude coal are second in volume, totaling 100,000 tons per year. They contain an average of about 40 percent coal. Salt is the third largest waste, amounting to 28,000 tons per year, Next is calcium carbonate, most of which is formed in water treatments, Because of its high unit value, chromic acid is important, although the waste quantity is much smaller; cyanide wastes are also significant because large quantities of sodium hydroxide and chlorine are consumed in their treatments prior to disposal. The various industries discharging wastes use 38 billion gallons of water annually; the recirculation rate is 109 billion gallons per year. The plants discharging no waterborne mineral wastes use 2 billion gallons of water per year and recirculate more than 1 billion gallons. Sand and gravel plants use 13.5 billion gallons; petroleum refineries use 10 billion gallons in direct use and recirculate 82 billion gallons per year.

Jan 1, 1962