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'Nothing happens until something is sold' This statement is not original - it is a necessary orientation for marketing industrial minerals. The most important single philosophy of marketing is that it recognises the consumer as the starting point. Production orientation is concerned with producing products that the customer might buy. Market orientation is concerned with finding the needs of the customer and how they can be satisfied. The difference between the two approaches can be recognised in company structures but the most tangible difference is in the approach by a company to selling and development. In other words, it is the market that decides what can be done with a mineral. The markets requirements dictate what mineral, what grade and what price will be paid. Therefore it follows that when pricing a product we should avoid taking the basic cost and arriving at a final selling price through a series of standard markups (unless government insists on it). We should start with the price the market can stand and work backwards to find out whether you have a profitable product or one that will fail because it is too dear. Naturally a thorough understanding of production costs is necessary particularly when marginal markets are concerned.

Jan 1, 1978

By Stephen C. Tadolini, Thomas M. Barczak

Roof support systems, longwall shields in particular, have persistently grown in size and capacity for the past 25 years. Why is this? Is it a good thing or is it unnecessary? What are the consequences of this “bigger-the-better” design philosophy? Rarely do we see a “one size fits all” approach to roof support except when it comes to longwall shields, where the historical trend for new procurements is to simply purchase the highest capacity support you can buy. Does high capacity ensure failures will not occur? The answer is no! The highest capacity tailgate supports are typically the ones that fail the most often. What does this tell us? It tells us that there are fundamental aspects of support design and ground control that we still do not understand or recognize when designing a support system. This paper provides an interesting evaluation of these issues and proposes a different approach to support design that attempts to match the support performance characteristics to the ground behavior. Along the way, some of the old premises of support design will be discarded, and new “controversial” ideas developed. Thinking outside the box never hurt any industry. Mining has made it a common practice.

By O. G. Lellep

Modern shaft kilns in Europe are fully mechanized and burn cement of acceptable quality at 700,000 Btu per bbl and lime at 3.2 million Btu per net ton. Rotary kilns for cement have increased in thermal efficiency by using exit gas heat for preheating incoming raw material and by recovering heat from outgoing clinker in air-quench coolers. The dry process Lepol or ACL kiln has the lowest fuel consumption, 580,000 to 630,000 Btu per bbl, and very low dust loss, about 1 pct weight of clinker. The Holdebank-Gygi system reaches 720,000 Btu per bbl. The calcinator kiln for the wet process consumes 1.1 million Btu per bbl. IN every country economic circumstances prescribe the method used to produce a commodity at lowest cost. In Pennsvlvania a man's wages for working 4 hr buys a ton of coal wholesale; in Germany a laborer must work 40 hr, or ten times as long. In western Europe, therefore, conservation of fuel is of primary importance, and recent practices of burning lime and cement differ from those employed in the United States. 'This Paper presents data collected during a trip through western Europe in 1953. Considered uneconomical, shaft kilns for burning

Jan 1, 1955

By Carl L. Renzoni

INTRODUCTION This paper defines equity as the issuance of a permanent interest in the business on a broadly distributed basis. As such, it excludes the issuance of equity to either a merchant bank or to another corporation. Nearly twenty years ago the equity markets were very simple: The instruments used were primarily common shares, convertible debentures or convertible preferred shares. Another equity-type option often used, especially by junior companies, was the sale of joint venture interests. Issue sizes were generally in the order of $25 - $100 million and issues were syndicated primarily in North America and Europe by one or two investment dealers. Mining corporations today benefit from a market with much more depth. Issues are syndicated by dealers on a truly international basis, and issue sizes now often range up to $300 million. Moreover, dealers are now willing to take significant risk in buying the issues for redistribution. This discussion of trends in equity markets will encompass: 1) common shares 2) warrants to buy common shares 3) convertible debentures 4) commodity backed instruments A review follows of events that affect the mining industry and investment dealers as they have a bearing on the equity markets for the metal producers. FACTORS AFFECTING THE MINING INDUSTRY The current business cycle, up to October 1987, had been characterised by a buoyant stock market and depressed base metal prices. Mining companies entered this period with weak balance sheets and little prospect of cash flows meeting capital needs. The issuance of equity and the sale of assets were used extensively to reduce debt to manageable levels. During this period, the relative high price for gold, and more important, the very high earnings and cash flow multiples afforded to gold producers, caused companies to target gold as the only game in town. The need for capital to acquire and develop gold properties prompted an unprecedented volume of equity issues. (Burns Fry led or co-managed over $1 billion of mining equity issues per year during this period). This high demand for equity capital by the industry prompted an increase in the use of equity instruments, such as commodity backed instruments. In addition, government tax incentive programs in Canada, such as flow-through shares, allowed smaller companies to raise significantly more equity than would otherwise have been possible. Over $1 billion in flow-through equity was raised in 1987 alone. The abundance of flow-through capital in Canada made it easy to form a new company. One flow-through share fund developed a system of providing the working capital required for a company to be eligible to receive flow-through share capital so that an entrepreneur required only a mining property to get started. Many new companies were formed and several flourished in a buoyant stock market environment to the point that market capitalizations grew to $100 million or more. The current period is in stark contrast to that before October 1987. The equity markets are generally available to the resource industry only on a window basis and only for senior companies and for special situations. The industry is benefitting from buoyant metal prices, and bankers are anxious to provide debt capital. Investment dealers previously processing several equity issues

Jan 1, 1990

By K. P. Wang

Mining and metallurgy have had a long history in China, and resources there have always been considered promising. Under the People's Republic of China (PRC), a remarkable industrial renaissance is underway that should further gain momentum in the years ahead. Rapid development of minerals have not only brought the PRC prominence in industrialization, but also in world affairs. Chinese mineral developments, especially petroleum, have been increasingly in the news. Oil and gas may have great potential, but a very large coal industry is already in existence. The steel industry ranks fifth or sixth in the world. The PRC is also prominent in fertilizer, cement, and salt production. The export metals are well known. Also, the country is buying heavily in nonferrous base metals. The need to know and the intense interest in the subject have prompted this study. The world significance of Chinese minerals is pointed out. The history of growth and PRC's mineral supply position are reviewed. Evaluations are made of policy considerations and regional and technical factors affecting mineral development. PRC's mineral trade and efforts to obtain equipment, supplies, and know-how are assessed. Specific reviews are made of major mineral sectors, including coal and power, oil and gas, iron and steel, nonferrous metals, industrial minerals, and fertilizers and chemicals. The overall outlook is summarized.

Jan 1, 1975

By R. Heiser, J. Vendetti, B. P. Connor, E. J. Haas

Health and safety indicators help mine sites predict the likelihood of an event, advance initiatives to control risks, and track progress. Although useful to encourage individuals within the mining companies to work together to identify such indicators, executing risk assessments comes with challenges. Specifically, varying or inaccurate perceptions of risk, in addition to trust and buy-in of a risk management system, contribute to inconsistent levels of participation in risk programs. This paper focuses on one trona mine’s experience in the development and implementation of a field-level risk assessment program to help its organization understand and manage risk to an acceptable level. Through a transformational process of ongoing leadership development, support and communication, Solvay Green River fostered a culture grounded in risk assessment, safety interactions and hazard correction. The application of consistent risk assessment tools was critical to create a participatory workforce that not only talks about safety but actively identifies factors that contribute to hazards and potential incidents. In this paper, reflecting on the mine’s previous process of risk-assessment implementation provides examples of likely barriers that sites may encounter when trying to document and manage risks, as well as a variety of mini case examples that showcase how the organization worked through these barriers to facilitate the identification of leading indicators to ultimately reduce incidents.

Jan 1, 2018

By R. Heiser, J. Vendetti, B. P. Connor, E. J. Haas

Health and safety indicators help mine sites predict the likelihood of an event, advance initiatives to control risks, and track progress. Although useful to encourage individuals within the mining companies to work together to identify such indicators, executing risk assessments comes with challenges. Specifically, varying or inaccurate perceptions of risk, in addition to trust and buy-in of a risk management system, contribute to inconsistent levels of participation in risk programs. This paper focuses on one trona mine’s experience in the development and implementation of a field-level risk assessment program to help its organization understand and manage risk to an acceptable level. Through a transformational process of ongoing leadership development, support and communication, Solvay Green River fostered a culture grounded in risk assessment, safety interactions and hazard correction. The application of consistent risk assessment tools was critical to create a participatory workforce that not only talks about safety but actively identifies factors that contribute to hazards and potential incidents. In this paper, reflecting on the mine’s previous process of risk-assessment implementation provides examples of likely barriers that sites may encounter when trying to document and manage risks, as well as a variety of mini case examples that showcase how the organization worked through these barriers to facilitate the identification of leading indicators to ultimately reduce incidents.

Jan 1, 2017

By Mei Long, Tawum Juvert Mbah, Jianhua Zhang, Haiwang Ye

There have been many improvements and advancements in the application of neural networks in the mining industry. In this study, two advanced deep learning neural networks called recurrent neural network (RNN) and autoregressive integrated moving average (ARIMA) were implemented in the simulation and prediction of limestone price variation. The RNN uses long shortterm memory layers (LSTM), dropout regularization, activation functions, mean square error (MSE), and the Adam optimizer to simulate the predictions. The LSTM stores previous data over time and uses it in simulating future prices based on defined parameters and algorithms. The ARIMA model is a statistical method that captures different time series based on the level, trend, and seasonality of the data. The auto ARIMA function searches for the best parameters that fit the model. Different layers and parameters are added to the model to simulate the price prediction. The performance of both network models is remarkable in terms of trend variability and factors affecting limestone price. The ARIMA model has an accuracy of 95.7% while RNN has an accuracy of 91.8%. This shows that the ARIMA model outperforms the RNN model. In addition, the time required to train the ARIMA is than that of the RNN. Predicting limestone prices may help both investors and industries in making economical and technical decisions, for example, when to invest, buy, sell, increase, and decrease production.

Jan 6, 2021

By AIME AIME

This volume, an octavo of 626 pages, is now ready for delivery. By its aid, any subject treated or alluded to in the Transactions can be instantly tracked. The names of persons, mines, works, towns, etc., have been included; and abundant cross-references and classified sub-headings have been added to facilitate rapid consultation. Thus, the student remembering the name but not the locality, or the locality but not the name, or neither the name nor the precise locality of a gold-mine, can find it under ?Gold-mines," or under either of the other heads. For a more extended statement of the nature and use of this Index, which is intended specially for the benefit of those who do not possess complete sets of the Transactions, and who consult the Library by correspondence, see the Bi-Monthly Bulletin for September, 1907. The price of the Index bound in cloth is $5, delivery charges prepaid. Half-morocco binding costs $1 extra. Buy at once a copy of this Index, and also as many back-volumes of the Transactions as you can afford. Every such purchase from the stock on hand is so much added to the income of the Institute. As far as possible, the money thus received will be devoted to maintaining and perfecting the Library, and making it useful to members in all parts of the world.

Jan 11, 1907

By ALFRED KAUFFMAN

NO matter what position we hold, workman, foreman, superintendent, manager, president, or what not, let us fail to give or to make good products, then see how quickly we'll be called to account for- our work by the buying public. The waves of progress taught us that millions were wasted in unnecessary strikes-we also learned that many losses were due to neglect on the part of manufacturers to give the same consideration and attention to the human element of their factory as they gave to their machinery. The employees learned also that the employer was their agent who found purchasers for the product of their labor. So between the two we learned that many years of labor were needed in order for a worker to recover his wasted savings, or for the manu¬facturer to replenish his loss. Treat 'em rough, and tell 'em nothing, was not very far from the true relationship between management and employees in manufacturing plants in the early days. Today just exactly the opposite views are held by executives whose function is the handling of employees. Men today want to know what it is all about. They are intelligent enough to comprehend the facts, and to use them constructively, and it is good business to give them the information.

Jan 1, 1929

The four papers making up this symposum have been prepared especially for those who have no knowledge of seismograph prospecting. To many people mathematics is a formidable subject, and many are discouraged from studying seismograph prospecting under the mistaken assumption that the mathematical requirements are severe. In the papers presented here there is not a single mathematical equation. We believe that considerable competence in dealing with some of the most important problems of this work can be attained without any mathematical training whatever. At the present time, there is a real need for interpretation of results by persons thoroughly competent to bring geologic experience and imagination to bear on data that are subject to multiple interpretation from a strictly physical viewpoint. Likewise, those charged with the responsibility of planning seismograph exploration campaigns would do well to become familiar with as much as possible of the technical aspests of the work. They would then be in better position to judge of its success in individual cases. It has often been said that the seismograph is a new structure-finding tool for the geologists to use. Using a tool and using its product are two different things. One does not use an automatic screw-threading machine when he buys a box of screws at the hardware store. Neither does the geologist

Jan 1, 1940

The four papers making up this symposum have been prepared especially for those who have no knowledge of seismograph prospecting. To many people mathematics is a formidable subject, and many are discouraged from studying seismograph prospecting under the mistaken assumption that the mathematical requirements are severe. In the papers presented here there is not a single mathematical equation. We believe that considerable competence in dealing with some of the most important problems of this work can be attained without any mathematical training whatever. At the present time, there is a real need for interpretation of results by persons thoroughly competent to bring geologic experience and imagination to bear on data that are subject to multiple interpretation from a strictly physical viewpoint. Likewise, those charged with the responsibility of planning seismograph exploration campaigns would do well to become familiar with as much as possible of the technical aspests of the work. They would then be in better position to judge of its success in individual cases. It has often been said that the seismograph is a new structure-finding tool for the geologists to use. Using a tool and using its product are two different things. One does not use an automatic screw-threading machine when he buys a box of screws at the hardware store. Neither does the geologist

Jan 1, 1940

By Walter A. English

The four papers making up this symposum have been prepared especially for those who have no knowledge of seismograph prospecting. To many people mathematics is a formidable subject, and many are discouraged from studying seismograph prospecting under the mistaken assumption that the mathematical requirements are severe. In the papers presented here there is not a single mathematical equation. We believe that considerable competence in dealing with some of the most important problems of this work can be attained without any mathematical training whatever. At the present time, there is a real need for interpretation of results by persons thoroughly competent to bring geologic experience and imagination to bear on data that are subject to multiple interpretation from a strictly physical viewpoint. Likewise, those charged with the responsibility of planning seismograph exploration campaigns would do well to become familiar with as much as possible of the technical aspests of the work. They would then be in better position to judge of its success in individual cases. It has often been said that the seismograph is a new structure-finding tool for the geologists to use. Using a tool and using its product are two different things. One does not use an automatic screw-threading machine when he buys a box of screws at the hardware store. Neither does the geologist

Jan 1, 1940

By Eric S. Cheney

The often-heard question "How can we interest young geologists and engineers in AIME?" is virtually the same as "How can we interest young geologists and engineers in the glamorous mining industry?" Many persons would reply that AIME and industry should improve their image by various devices aimed at high school students and teachers, boy scouts, and even grade school children. For more immediate results, I suggest that we concentrate our efforts at the professional level on students already identified as geol¬ogists and engineers. Why does our glamorous profession appear distinctly unglamorous to most of the engineers and geologists currently in college and graduate school? The answers seem quite simple to me. First, the profession talks almost exclusively to itself, seldom to the engineering or geologic public, and almost never to the lay public. Second, the industry has been overly conservative in all aspects of recruiting during an especially competitive and affluent period. Consequently, mining has taken a terrific public drubbing from preservationists who still portray its leaders as robber barons. SME and AIME have, of course, various commendable programs for enticing student interest, including student membership, the low dues for this membership, the somewhat reduced prices at which students can attend AIME meetings and buy AIME volumes, and the large number of AIME Student chapters on campuses. Obviously, more active encouragements are needed.

Jan 1, 1971

By Walter A. English

The four papers making up this symposum have been prepared especially for those who have no knowledge of seismograph prospecting. To many people mathematics is a formidable subject, and many are discouraged from studying seismograph prospecting under the mistaken assumption that the mathematical requirements are severe. In the papers presented here there is not a single mathematical equation. We believe that considerable competence in dealing with some of the most important problems of this work can be attained without any mathematical training whatever. At the present time, there is a real need for interpretation of results by persons thoroughly competent to bring geologic experience and imagination to bear on data that are subject to multiple interpretation from a strictly physical viewpoint. Likewise, those charged with the responsibility of planning seismograph exploration campaigns would do well to become familiar with as much as possible of the technical aspests of the work. They would then be in better position to judge of its success in individual cases. It has often been said that the seismograph is a new structure-finding tool for the geologists to use. Using a tool and using its product are two different things. One does not use an automatic screw-threading machine when he buys a box of screws at the hardware store. Neither does the geologist

Jan 1, 1940

By K. Kavouridis

The competitiveness of power production from lignite depends on the ability of coal industry to meet CO2 emissions limits, as specified by the Kyoto protocol. According to the National Allocation plan issued by EC, power plants should reduce CO2 emissions to a certain level, other-wise they will be obliged to cover the difference buying CO2 certificates through the Emission Trading Scheme. These charges will increase the operating cost of current units, as well as the investment cost for new units. To predict the increase in the marginal cost of electric power produced from the current plants of Western Macedonia, an emissions factor (CO2 t/MWh) for various units has been computed. Based on the algorithm used, this factor depends on the calorific value of the lignite, the efficiency of the power plant and the oxidation factor of the unit. For lignite plants with efficiency ~37%, CO2 emissions factor ranged from 1.19 t/MWh to 1.32 t/MWh. The increase in the marginal cost of kWh, as compared to the values of CO2 certificates, is higher in units fed with low quality lignite and worsens if the efficiency of the unit is low too. Also the presence of calcareous minerals in lignite increases the CO2 emissions and consequently the cost of power generation.

Jan 1, 2006

By George Anagnostache

AMONG the petroleum-producing countries of the world, Roumania occupies the fifth place; in Europe, it occupies second place, coming after Russia. The extraction and the use of petroleum in Roumania, may be trace( as far back as 1856, but the production on an industrial scale started in 1896, when the "Steaua Romana," was formed. From that time until the beginning of the war, the petroleum industry had a rapid growth the number of the producing companies increased to 37, and production FIG. 1.-ROUMANIAN OIL AND GAS FIELDS. increased from 81,571 tons, in 1896, to 1,898,545 tons, in 1912, when the greatest production was reached. In 1916, when the Germans invaded Roumania, the oilfields, at the order of the Allies and under British supervision, were destroyed, to pre vent their exploitation by the Central Powers; the wells were blown in the refineries and the storage tanks burnt, and pipelines put out of order This voluntary destruction, which weakened the resistance of the Central Powers, set back the petroleum industry at least one decade. Reconstruction after the war was slow, because of bad transportation conditions the scarcity of drilling and refining material, the insufficiency of. electric power, and the continuous depreciation of the Roumanian money, which made difficult the buying of the necessary materials for reconstruction.

Jan 3, 1925

AN economist at MIT provided Americans with myth destroying information which should prove effective against the gentlemen of the extreme left. For a number of years they have charged that a small number of companies in each industry has been grabbing more and more of the industry's business. M. A. Adelman has shown that the concentration of business in the hands of big corporations has not shown any sign of growth during the last 50 years. Quite the contrary, there has been a slight decline in this concentration, according to Adelman. There are more small companies per thousand population than ever before. Bearing this out is the fact that International Harvester is now doing 41 pct of the possible market against a former 85 pct; American Can Co. has dropped from 90 pct to 50 pct; American Smelting is down to 31 pct compared with 90 pct; and lastly, U. S. Steel which has plummeted from 65 pct to slightly more than 30 pct of the steel market. Declines of the same proportions have hit big companies in other industries. Price cuts on Detroit's 1953 automobiles indicate that even among the biggest competition is still one of the most important household gods. Big business is still slugging it out for the attention of the American consumer. It's a battle which can only have one result-benefit to the man who buys.

Jan 1, 1953

By Robert T. McKnight

Introduction The minerals exploration business, like many businesses, is faced with the problem of valuing future, risky cashflows. These cashflows are derived from those mineral deposits which have been successfully commercialized. Many deposits, however, do not have the quantities or grade of ore to be considered economic at the projected metal prices using the traditional tools of the Capital Asset Pricing Model and discounted cashflow analyses. If one calculates the future revenues, costs and cashflows of one these marginal properties, and discounted it at the appropriate risk-adjusted discount rate, it may have a negative present value. Yet such a property may still have real, positive value in the marketplace. Why would a firm pay money for a property with an (apparent) minus present value? Mining properties such as these are bought and sold in arms- length transactions on a regular basis. Why is this so? Part of the reason relates to the nature of ore reserve information. To generate cashflows, the analyst must t assume that the reserve information is known with certainty when, in fact, reserves are not known with certainty. Mineral reserves are a function of commodity price, extraction costs and the level of (usually drilling) information about the reserves. Stated, or currently known, mineral inventories may vastly understate the true state of nature. Some firms may therefore be buying a property based on a completely

Jan 1, 1988

By Harold A. Taylor

The first use of graphite is lost in the mists of time. It was used by primitive man to make drawings on the walls of caves and by the Egyptians to decorate pottery. As early as 1400 AD graphite crucibles were being made in the Haffnerzell District of Bavaria. Through the Middle Ages graphite was confused with other minerals, especially galena and molybdenite. Two common names that are still being used for the mineral are plumbago, meaning lead-silver, and black lead. The latter name implied that graphite is either composed of lead or at least contains a large percentage of it. Gessner is credited with having recognized it as a separate mineral in 1565, but its composition was not determined until 1779, when Scheele demonstrated that graphite oxidized to carbon dioxide, thus proving its carbon constitution. In 1789, Werner named it graphite from the Greek word graphein, meaning to write. The United States has long relied on foreign countries for its graphite supplies. This reliance has been due more to the lack of suitable domestic graphites than to any particular preference for buying minerals overseas. Sri Lankan graphites were imported as early as 1820, and Madagascar graphites have been imported since the properties on that island were opened up about a hundred years later. Mexico has long supplied the United States with most of its requirements for amorphous graphite.

Jan 1, 1994