Search Documents

By Dennis F. Koschak

Production tests at Reserve Mining Company's iron ore pelletizing plant established that rubber-lined balling dm produce a green pellet equivalent in quality to those produced in conventional balling drums equipped with reciprocating cutter bars. The flexing action of the rubber liner prevents concentrate buildup in the drums, eliminating the need for a cutter bar. Advantages of the rubber-lined drum includes a reduction in maintenance and operating manpower, reduced bentonite consumption with less drum surging, reduced power consumption, and improved drum on time.

Jan 1, 1983

By S. M. Runke

The pegmatite investigations at the Rapid City, S. Dak., Experiment Station during; the pact 3 years have been primarily a study of recovering beryl from nonlithium-bearing pegmatite rock by continuous-testing methods. Beryl concentrates containing 25 to 88 percent beryl were produced from rock that ranged in beryl content from 0.1 to 2.5 percent. The beryl recovery ranged upward from 70 percent but averaged better than 80 percent. Although promising results have been obtained with flotation methods for upgrading these concentrates to standard specifications, additional work is needed to improve and simplify the procedure. In addition, it was demonstrated that several potentially useful coproducts could also be recovered from pegmatite rock. The principal coproducts were mica, feldspar, and quartz. A heavy-mineral product also was made from pegmatites containing tin, tantalum, and columbium. The recovery if these minerals in products meeting the specifications of the commercial users has been reserved for future study. The investigations also included studies on extraction of beryllium from both high-grade beryl and flotation concentrates of medium beryllium content. The procedure investigated consisted of sintering beryl or beryl flotation concentrates with limestone, acid curing the resulting sinter with sulfuric acid to dissolve the beryllium, and water leaching to extract the beryllium. Over 90 percent of the beryllium was extracted by this procedure. Most of the optimum conditions and quantities of reagents were determined for dissolving the beryllium. As aluminum and iron also were taken into solution by the acid, further research is needed on methods of recovering high-grade beryllium salts from the solutions containing these elements.

Jan 1, 1957

By W. D. Haley

The report of the Forestry Committee, presented to the recent Imperial Conference at London, is discouraging in its view of the future of timber resources and supplies. From a review of the forestry situation throughout the world, there is every likelihood that, thirty years from this, a shortage of the soft-woods will be severely felt. In the United States, only about one-third of the present forest area contains virgin timber. This will be cleared at the rate of five and a half million acres a year, so that in twenty-five years it will be about all gone. Canada has only about 27 per cent of her original forests left, and her virgin soft-wood will last but another half century. At the present time, the value of her lumber products is over $300,000,000 annually. During the summers of 1909 and 1910, the Government of Nova Scotia caused an examination to be made of the forest conditions in this Province. The reconnaissance, which was under the direction of Professor B. E. Fernow, of Toronto, involved an examination of the various soils, the rate of growth of the wood, and a general survey of the forest area. The importance to the Province of conserving its forest resources was clearly shown, and a number of recommendations were made, which; however, were never acted upon.

Jan 1, 1927

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 S. Burks

This paper develops the themes explained at the previous SAIMM Platinum conference by Whittle and Burks1. Optimization techniques can be used to significantly increase the value of mining businesses by enabling better long- term planning decisions. Open pit and underground mine design, mine scheduling, cut-off grade and blending, stockpiling, and the linking of these to flexible elements of the metallurgical recovery processes are all evaluated together. Transport or sale of intermediate products and the requirements of the product metal markets can also be considered. Experience shows that net present value (NPV) can potentially be increased by 5-35 per cent or more, usually even before the expenditure of significant amounts of project capital. The case studies presented include: ? An existing operation with multiple open pits and PGM concentrators linked to offsite downstream processing facilities, and with infrastructure constraints for which the scheduling of current operations and the potential for expansion were investigated ? An existing operation with an integrated portfolio of mines, concentrators, smelter and refinery, for which the various possible sources of ore for processing were prioritized to match the downstream process plant constraints and the product markets ? An underground operation in Zimbabwe for which the optimum mining width was calculated and expansion plans were evaluated ? An underground mine with many separate mining sections, for which a revised schedule was developed aiming to keep the shaft system and processing plant at capacity with the highest net value material available at any time throughout the life of mine. In the concluding section of the paper, a few brief notes are included suggesting how the strategic recommendations from enterprise optimization studies may be implemented by the Owner?s team.

Jan 1, 2012

By L. H. Van Loon

INTRODUCTION THE property of Madsen Red Lake Gold Mines, Limited lies between Russet and Faulkenham lakes in Baird and Heyson townships, district of Patricia, Ontario. It is about six miles south west of the town of Red Lake, with which it is connected by an all-weather road. All orebodies found to date at the property are silicified lenticular bodies which lie within tuff beds. The ore bas a specific gravity of 2.95. It consists of mica and chlorite schist, silicified and containing a considerable amount of disseminated carbonate, and mineralized with pyrite, pyrrhotite, magnetite, arsenopyrite, and chalcopyrite. Of these, pyrite, in coarse to fine disseminated grains, is by far the most abundant. Pyrrhotite occurs in ?the gangue material as medium to fine disseminated grains. A very small amount of arsenopyrite, in small crystals, is associated with the pyrite, and small grains of chalcopyrite occur in both gangue and pyrite. Although some of the gold present in the ore is quite coarse, a good deal of it is extremely fine.

Jan 1, 1951

By A. Sullivan

Success in mining demands the creative application of equipment, systems and processes to the unique needs of each mineral deposit, market and, though often overlooked, the culture of the individual business. In recent years, domestic coal mining companies have become more attentive to the contribution safety and loss control programs have on their financial results. Although most have adopted fairly conventional safety programs, some have created systems and processes tailored to their unique circumstances. While each coal mining business must consider the typical risks inherent to our industry, excellence in safety is most likely achieved when a safety program is customized to meet the needs of the individual business.

Jan 1, 2000

By H. H. Heady

This Bureau of Mines report provides specific information regarding the analysis of ores, concentrates, and bullion. It describes analytical services provided by some Federal agencies, and discusses analytical techniques applicable to the precious metals. The appendixes list Bureau of Mines State Liaison Offices and commercial assay laboratories.

Jan 1, 1976

By R. E. Gilmore

PREAMBLE THIS PAPER comprises material presented in two separate 'Papers at the British Commonwealth Scientific Specialist Conference on Fuel Research held in London, England, in July, 1950. These papers are now available for publication in Canada, since only essential parts of the conference discussions, in addition to the resolutions resulting therefrom, will be published in the official Proceedings of the Conference. Inasmuch as the information presented concerns Canadian organizations and training facilities for fuel research, it should be of general interest to Canadian scientists, and especially to the Coal Division of the Canadian Institute of Mining and Metallurgy. Part I, the alternate title of which is Facilities in Canada for Fuel Research and for Exchange of Information and Staff, does not include research on peat, oil shale, petroleum oils in general, and natural gas, and omits studies of the geology, constitution, and production of coal. Special reference is, however, made to research on the heavy crude oils and bitumen of the Western Prairie Provinces, and particularly to their production and treatment to produce crudes for oil refinery processing.

Jan 1, 1951

By J. R. Evans

Mining claims must have a discovery of a valuable mineral deposit to be valid. When required, a Federal government mineral examiner makes a determination of validity and recommendations thereof to authorized management officials. The examiner should show whether or not an existing mining operation, or a proposed operation have economic viability. This is accomplished through an analysis of legal entities, land status and use, geologic and mineralogic relationships, and mining, milling and processing techniques considered in an appropriate economic evaluation framework. A framework involves market and market entry studies, reserve analyses, all costs analysis, royalty buyouts, tax structure, discount rate of return, and escalation and risk factors. An income approach to value is then used by means of a simple or complex discounted cash flow (DCF) analysis to certify validity. Whether one claim is owned by a single miner, or hundreds of claims are owned by a large corporation, thorough, fair, consistent, and appropriate economic concepts should be applied by the mineral examiner.

Jan 1, 1993

By Albert W. Cox

This paper, one of a series prepared for the United States Bureau of Mines discussing the methods used in mining, crushing, and grinding materials for cement manufacture, deals particularly with the methods used at the Security plant of the North American Cement Corporation. These papers are designed to disseminate technical information regarding the methods used. The cost tabulations represent local operating expenditures only and not total production costs. It is recognized that publication of, total production costs might in many instances cause embarrassment to individual producers as well as to the industry as a whole. On the other hand, operating costs are essential to the technical discussion and study of methods employed. The attention of the reader is specifically called to this differentiation in order that no misunderstanding of the scone of the cost tabulations shall ensue.

Jan 1, 1932

By D. Harrington

Near the close of the nineteenth century electricity was introduced underground, and the mining industry automatically was confronted with another potential source of fatalities and injuries to mine workers. Electricity has become an increasingly vital factor in the production of goal, particularly in recent years, because of the greatly extended mechanization that has taken place underground. The enlarged use of electrical equipment for cutting, loading, and hauling coal unquestionably increased the potentiality of shock and explosion hazards underground. Electricity may be used in coal mines with minimum danger if electric equipment and power-carrying wires are chosen properly and installed and kept protected by proper safeguards; on the other hand, if vigilance is relaxed in the slightest degree accidents may result. Electrical accidents are caused chiefly by direct contact with electrical equipment or power-carrying wires, by ignition of explosive gas or dust, and by fires of electrical origin. Electricity now ranks fourth as a cause of coal-mine fatalities, not including deaths from explosions or fires of electrical origin.

Jan 1, 1936

By W. J. Turbeville

The subject of this discussion is timely. The U.S. phosphate industry is suffering the throes of depression. It's plight is a matter of widespread concern. The future role of the U.S. industry in world markets is of particular interest. If we should prognosticate phosphate supply-demand on the basis of recent history, we would face a puzzling choice of scenario. In 1980, perhaps the best year ever for U.S. phosphate, 54.6 million metric tons of phosphate rock entered the market place. Of this, more than half was exported -- divided almost equally - as rock or phosphate fertilizer. During the last half of 1981 the situation had begun to change.

Jan 1, 1983

By Christian F. Baiz

Industrial minerals can have similar financing requirements to those needs of metaliferrous and coal mining projects. Although, one may see many similarities in the fundamentals of the various risks that must be evaluated in lending to any specific project, one of the outstanding differences is the understanding of the many different markets that these industrial minerals represent. There are in excess of 30 principal industrial minerals ranging in terms of annual production from the largest quantity such as sand and gravel, to possibly the smallest quantity of production of a legitimate industrial mineral which may be defined as industrial and rough gem diamond. If we assume that it is necessary to finance independent projects of ore bodies of industrial minerals for development, the financing techniques are similar to the fundamentals that we would use for financing coal projects or metaliferrous deposits. Therefore, let's begin by redefining project financing in the traditional banking or private sector area, and then in the later development of this paper, we will apply these techniques to industrial minerals in general and cite it with several specific examples.

Jan 1, 1982

By John Davis Morgan

The uncertain world conditions of the present time require that the United States be prepared to meet: a. all-out nuclear war with attack on the United States b. limited wars (anything smaller than (a.) c. political, economic, and/or psychological warfare. Our present position as a major world power derives in large measure from our free institutions and our great industrial productivity, and our productivity in turn depends on an ever-continuing flow of raw materials from the earth - metals, minerals, fuels, and agricultural products. The United States, with only about 6% of the world's population, uses from one-third to two-thirds of the world's annual supplies of 'most metals and minerals. The United States strategic materials stockpiling program is designed to enhance our national security posture: as stated in the preamble of the Stock Piling Act, to decrease and prevent wherever possible a dangerous and costly dependence of the United States upon foreign nations for supplies of strategic and critical materials in times of national emergency. In times past, the Good Lord himself has ordered some stockpiling. The Book of Genesis in the Bible tells how Pharaoh of Egypt was directed to set aside one-fifth of the produce of the land in each of the seven good years to meet the needs of the seven bad years that were to follow: this would be a stockpile of about two years? normal use. Our cultural heritage often reminds us of the wisdom of stockpiling, as in the case of the stories about the provident squirrels that gather their nuts in an orderly manner in the f all to prepare for the winter's cold. And the old proverb about a bird in the hand being worth two in the bush points out clearly the value of something that is directly at hand.

Jan 1, 1960

By Iván Mendoza

La Responsabilidad Social Empresarial (RSE) es una política que adoptan las empresas de manera voluntaria -en tanto relaciona las empresas mineras que instalan las unidades operativas y las poblaciones del entorno. En ese sentido, el presente texto describe los lineamientos que comprende dicha política. Luego, se desarrollan las diferencias entre los ámbitos económicos, organizativos e institucionales en las zonas rurales del país. El aspecto organizativo se aborda enfatizando el papel de las comunidades campesinas, mientras que el institucional destaca los roles de las municipalidades. Finalmente, se revisan las relaciones entre las empresas y la población.

Jul 1, 2013

By Alfred Opengart

During any rush hour, tens of thousands of automobiles clog the main highways leading into or out of our large cities. Inevitably one or more cars stall or plow into another, causing a momentous traffic jam. Traffic backs up for miles as drivers try to maneuver around the roadblock. As commuters, we grin and bear the inconvenience, rationalizing the delay as part of the price one pays to live in a modern society. The truth of the matter is that the engineers planning the roads have the know-how to build adequate bypass alternatives into their design. The problem is one of economics -- can the cost of eliminating roadblocks be justified? Engineers designing solutions to complex materials handling problems for modem distribution centers are just now beginning to ask this question in relation to their work. Unfortunately in many instances, it has taken an expensive "traffic jam" to bring this question to the front. In these cases, a seemingly practical system promising an attractive return on investment -- using the latest equipment and computer controls -- was designed and installed. Everything went according to plan until one day a breakdown occurred. .Product flow stopped, and management realized it was at the mercy of the "machine." In such situations, management had assumed it could minimize the risks of the breakdown by injecting extra manpower to operate the system manually and pay the associated costs. What it had not recognized is that manual intervention is nearly impossible with sophisticated systems. Thus, too often -- and sometimes too late -- management found itself footing a very high bill for losses incurred because of major production stoppages and missed customer shipments.

Jan 1, 1973

By W. E. Anable

The Bureau of Mines researched methods for recovering copper from cyclone and electrostatic-precipitator dusts of primary copper smelters as part of its program to maximize minerals and metals recovery from primary and secondary domestic resources. Small-scale studies showed that use of 110 pct stoichiometric sulfur and 123 pct stoichiometric carbon, based on producing a 40-pct copper-iron matte, resulted in the recovery of 95 pct of the copper contained in the dust. Typical mattes contained less than 10 pct of the arsenic, 30 pct of the bismuth, and 45 pct of the antimony and tin contained in the dust. Matte was converted to blister copper by injecting up to 200 pct of the stoichiometric oxygen requirement over a period of 2 to 3 hours. Up to 76 pct of the copper contained in the dust was recovered as a crude blister copper containing about 2 pct arsenic, 0.5 pct antimony, and less than 0.1 pet bismuth and tin. A matte-white metal product resulted from carbothermically reducing dust with coal, lime, and silica. Up to 95 pct of the copper was recovered in the combined product.

Jan 1, 1981

By G. R. Hopkins

According to reports received by the Bureau of Mines, Department of Commerce, as of January 1, 1929 there were 413 completed refineries in the United States, with a total daily crude-oil capacity of 3,509,540 barrels. In addition, 14 refineries, with a potential capacity of 99,000 barrels, were being constructed. Of the completed refineries, 341, with a capacity of 3,325,890 barrels, or 95 per cent of the total capacity, were in operation; and 72, with a capacity of 183,650 barrels, or 5 per cent of the total, were shut down. The improved condition of the refining industry in 1928 was indicated in several ways; namely, in an increase in the total capacity of the completed plants, in the opening up of a few plants which were shut down during 1927, in a decrease in the number of plants dismantled, and in an increase in the number of plants under construction. The majority of the refiners have followed a steady expansion program commensurate in most cases with the increase in demand for petroleum products. Obsolete equipment has been dismantled and modern equipment has been installed, with the net result that the total capacity of the completed refineries in the United States has shown a steady increase since January 1, 1918, the date of the first Bureau of Mines survey. Between January 1, 1928, and January 1, 1929, the number of completed plants fell from 423 to 413, but their total capacity increase 259,160 barrels, or 8 per cent. This compares with an increase in runs to stills of domestic and foreign crude petroleum of 10 per cent, and of domestic crude alone of 7 per cent.

Jan 1, 1929

Southeast Alaska's mining industry has come to life after nearly 50 years of relative dormancy. Commencement of operations of the Greens Creek Mine in 1989 marked a turning point in the industry as the first large scale mining operation in the region since closure of the Alaska-Juneau Mine in 1944. The Greens Creek Mine is now the nation's largest silver producer. Other large scale mining projects are now on the drawing board, including development of the Kensington Mine and reopening the Alaska-Juneau Mine, which could become North America's largest underground gold mine. The region's mining industry includes more than these large scale projects, however. For example, a significant level of mineral exploration occurs each summer in Southeast Alaska. In addition, mining operations in British Columbia and Yukon Territory are generating jobs and income in Southeast Alaska.

Jan 1, 1992