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By G. Warren

"In the past, smelting and refining of the precious metals recovered from ore has been generally looked upon as a small and relatively minor component of the business of gold mining. This is not surprising when one considers that the manpower, space and capital components of a gold refinery at an operating mine can be several orders of magnitude smaller than other unit operations at the same location. This philosophy is changing however, as economic and environmental pressure are forcing a re-evaluation of all aspects of gold mining and milling.This paper describes and evaluates three furnace technologies available and used by precious metal operators. The operation of arc, induction, and reverberatory furnaces are discussed and their strengths and weaknesses with respect to capital cost, impurity removal, slag quality, and environmental concerns highlighted.INTRODUCTIONIn the past, smelting and refining of precious metals recovered from ore has been generally looked upon as a small and relatively minor component of the business of gold mining. This is not surprising when one considers that the manpower, space, and capital components of a gold refinery at an operating mine can be several orders of magnitude smaller than other unit operations at the same location. Generally, gold producers will spend a great deal of effort to squeeze the last drop of efficiency out of a leach or grinding circuit via simulation or testwork but will design and build the refinery based upon past practices or industry standards. That past practices or industry standards will provide a functional refinery is undisputed; that this philosophy achieves the efficiencies that are possible or demanded in other plant operations is debatable.Environmental and worker hygiene requirements are considerations as well. Pollution control equipment can become a substantial contributor to both the capital and operating costs of a refinery and furnace selection has a marked influence upon the type and cost of this equipment. Slag characteristics and subsequent processing options available also play a role in furnace selection as precious metal slag losses and the recovery effort can greatly influence the cost / benefit analysis of a particular technology."

Jan 1, 2001

By Herbert H. Einstein

The innate variability of natural materials and processes causes uncertainty in the models representing the natural phenomena and uncertainty in estimating the parameters that are used in these models. Reliability analyses, in contrast to the traditional factor of safety approach, are well suited to a rational incorporation of uncertainty in design and exploration decisions. Probabilistic kinetic and kinematic analyses were developed and combined to form reliability analysis methods. With one method the reliability, i.e.) the probability of failure, of an individual 2-plane wedge in a slope can be determined. The other method is aimed at slopes with a single slope parallel set of joints. In each case two approaches were developed, an encompassing one relying on computer codes and a simplified or summary approach relying on charts or pocket calculator computation. A major contribution of these approaches is the treatment of joint persistance. Instead of having to assume a certain persistence, it is now possible to use exploration data on joint geometry and to include the persistence effect rigorously.

Jan 1, 1979

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

Stope support systems, typically consisting of props and packs, are used extensively in the gold and platinum mining industry to stabilize the rock mass in the excavation vicinity and to reduce the hazard associated with rockfalls and rockbursts. The design of stope support systems was historically based predominantly on past experience and practices, and cost considerations. The recent development of a new and improved support design methodology, has led to the potential for significant increases in worker safety and support cost savings. This paper reviews some of the fundamental rock mass and support criteria that form the basis of the improved support design methodology. The considered design criteria are the height of potential fall; quasi-static stope closure rates; dynamic stope closure rates; compressive hangingwall stresses; discontinuity spacing, orientation and interface properties; effect of support length (stoping width); effect of compression rate; consistency of support performance; a real coverage; support spacing; and zone of support influence. The proposed support design methodology combines both the zone of influence and key block stability theories, resulting in optimized support systems for rockfall and rockburst conditions. The site-specific methodology consists of two stages: (i) a tributary area analysis, and (ii) a zone of support influence and a stability analysis, considering hangingwall failure due to buckling, shear and block rotation, which gives maximum safe spacing of individual support units. The methodology is suitable for designing support systems for both blocky hangingwalls and hangingwalls fragmented by face-parallel extension and shear fractures.

Jan 1, 2001

By P Stoker

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Mining and exploration properties have a unique set of technical risks. Privately-owned companies considering investing in the resources sector can optimise their investment decisions by adopting a systematic technical assessment of acquisition assets, similar to the approach commonly adopted by public financial institutions and publicly-listed companies.Technical due diligence provides a process to identify key geological, mining, geotechnical, metallurgical, environmental and social risks and opportunities and determine the most likely business case and valuation of assets. Technical due diligence is commonly carried out in parallel with legal, commercial and financial due diligence, often involving the acquirer, to maximise the understanding of the investment.There are significant advantages in investors conducting a comprehensive technical due diligence, which typically involves site visits and project assessment to international standards by an independent, multidisciplinary team of experts. The outcomes provide the opportunity for the investor to make early, informed decisions and to understand and manage risks.Technical due diligence may be carried out at several stages: when considering and weighing up a number of investment options, prior to and during a transaction or immediately post-transaction. In the first stage, the outcomes will inform the choice of investment and, more particularly, whether there are any fundamental flaws in the projects being considered. In the second stage, due diligence outcomes can inform the level of investment and approach to risk management and planning. In the third stage, risks and opportunities can be investigated in more detail, allowing the investor to consider the best options to reduce risk and maximise the benefit of the investment.This paper presents a summary of the technical due diligence assessment process, its benefits to investors, common risks in mining and exploration projects known to cause mining asset write-downs and principal technical due diligence approaches.CITATION:Keogh, A, Stoker, P and Thomas, M, 2015. Benefits of due diligence in private equity mining investments – maximising value and unearthing common risks , in Proceedings PACRIM 2015 Congress, pp 115–126 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By P. Toscano

The objective of this investigation was to determine how the losses of nickel, copper and cobalt in fayalite slags could be controlled for nickel mattes with iron contents below 5 wt%. Laboratory-converting and slag-cleaning experiments were carried out at 1250°C. Several variables were investigated during and after converting to help minimize the amount of nickel and cobalt that reports to the slag. The variables used were oxygen concentration in the blast, coke breeze addition and nitrogen injection stirring. In all the experiments, slag and matte co-existed. Coke additions during converting have little effect on the losses of nickel, copper and cobalt. In fact, coke additions retard the converting process by consuming some of the oxygen injected. On the other hand, coke additions and nitrogen injection applied after converting was completed resulted in decreased slag losses.

Jan 1, 2004

By P. Toscano, T. A. Utigard

"The objective of this investigation was to determine how the losses of nickel, copper and cobalt in fayalite slags could be controlled for nickel mattes with iron contents below 5 wt%. Laboratory-converting and slag-cleaning experiments were carried out at 1250°C.Several variables were investigated during and after converting to help minimize the amount of nickel and cobalt that reports to the slag. The variables used were oxygen concentration in the blast, coke breeze addition and nitrogen injection stirring. In all the experiments, slag and matte co-existed.Coke additions during converting have little effect on the losses of nickel, copper and cobalt. In fact, coke additions retard the converting process by consuming some of the oxygen injected. On the other hand, coke additions and nitrogen injection applied after converting was completed resulted in decreased slag losses."

Jan 1, 2004

Possibilities for Flotation Acoustics Monitoring - A Review

Sep 13, 2010

High Pressure Grinding Rolls Scale-Up and Experiences

Sep 13, 2010

By Howard S. Bryant

FROM the viewpoint of the oil producer, the oil refiner, the oil marketer, and the investor, in oil securities, a brief picture of the crude oil supply and demand in the present critical season of the year will be timely and interesting. Although crude oil production has been in a comparatively poor statistical position this year, increased sales and sustained refinery and crude oil prices have allowed increased profits for many oil companies. The large amount of crude oil going into storage during the present period of peak consumption, just previous to the major yearly fall decline in consumption, has caused oil producers to make plans to leave the oil in the ground for the present in several of the areas of large flush production. The present moment is looked on as the turning point in the current year.

Jan 1, 1929

By J. Kraemer, A. Preusse

In the federal state of North Rhine Westphalia (Germany) small and medium sized companies are beginning to extract the related gas via old shafts or boreholes and to use it as a source for the production of electricity and heat. More than 100 applications for the separate mining right on mine gas had already been filed by beginning of 2002, since mine gas is treated as a mineral resource under the Federal Mining Law. Meanwhile more than 40 mine gas concessions have been granted and first projects are being developed with encouraging results so far. To enhance the applied techniques and their efficiency Aachen University has formed a research team in this discipline. Scope and goals of this research activities are being presented in this paper. Keywords: extraction mine gas, Renewable Energy Act, Ruhr District.

Jan 1, 2003

By M Philip Schwarz

"This paper reviews the status of computational modelling of a variety of common metals reduction processes, namely the blast furnace, rotary kiln and fluidised bed, and one new process not yet commercialised, namely smelting-reduction as in the HIsmelt Process. In each case, the last decade has seen the emergence of the capability to simulate the processes using multi-phase reacting computational fluid dynamics techniques. In some cases this capability is still in the process of being developed, and the next few years will see the maturing of the modelling techniques. As they become established, it will be possible to apply them to further refine the older technologies such as blast furnaces and rotary kilns, and assist in the optimisation, commercialisation and acceptance of the newer technologies such as fluidised bed and molten bath reduction. The development of a computational fluid dynamic model of bath smelting-reduction is described in some detail to illustrate how a large number of complex and interacting phenomena can be successfully simulated within a CFD framework. IntroductionPyrometallurgical reduction processes, such as the iron blast furnace, have become increasing more sophisticated through the centuries, so that today they are often highly efficient. There are continuing pressures, however, to refine existing processes and develop new ones. The imperatives are often economic, given that the long-term trend in the price of metals is always downward. In recent times, there has been the additional need to improve the environmental impact of metal production. Given that they almost inevitably require the use of carbon, metal reduction processes are large sources of greenhouse gases, and even a relatively small improvement in efficiency can be valuable in reducing CO2 production. Local environmental issues, such as the need to control of particulate emissions, are also driving incremental improvements in equipment.In addition to the economic and environmental drivers mentioned above, new process development is also being driven by the need to process new ores, and the need to produce unrefined metal in a form more compatible with alternative routes for downstream processing. An example of the latter is the production of DR! (Direct Reduced Iron) as a feed for EAF Electric Arc Furnace) in mini-mills.Further improvement of processes that have already been honed by continual plant experimentation over many years is not an easy task. To deliver further gains in efficiency, throughput, or product quality requires a highly sophisticated tool: one such tool· is computational modelling."

Jan 1, 2001

By H. A. Stoess

The Minerals Industry makes heavy demands for and on its Material Handling equipment. It also gives progressive management the opportunity for considerable savings, ad consequently increased profits. In some cases, cost of Materials Handling amounts to 40°/o of the total cost of the ultimate product. Handling costs are hidden in overhead, indirect labor, excessive maintenance, productive workers performing handling tasks, and, a great many more. Even though Materials Handling is the oldest occupation of mankind, it is only within the past twenty years that it has emerged as a specialized field. While this industry has made full use of all types of mechanical and vibratory conveyors, pneumatic conveyors in their proper application can be a distinct asset. me use of pneumatic conveyors by this industry however is limited- to a certain extent by the particle size of your products through the various phases of manufacture, as well as their bulk density. However, with increasing knowledge of the fluidization of dry materials, their use is becoming more wide spread.

Jan 1, 1962

By F. F. Peng

The raw-coal feeding system and the upward medium current flow in a dense-medium vessel (DMV) are, in addition to the residence time of particles in the separator, important factors for efficient coarse particle separation. The feed material from a raw coal screen and/or pre-wet screen merge with the major volume of circulating medium as push medium, guided by an adjustable submergence baffle plate deep fed into the separator for effective separation. The remaining volume of the circulating medium enters from the purge and drain hoppers at the bottom of the DMV. This generates a gentle upward medium current flow in the separator, which prevents dense medium stratification/settling and merges as part of the push medium. A two-dimensional, two-phase model developed using computational fluid dynamics (CFD) is used to describe the flow pattern and evaluate the function of the dip plate for understanding the mechanisms of particle separation in the separator. The particle movement in the DMV is also tracked to investigate the major operating parameters affecting the separation performance of the DMV. The simulation results of the DMV separation performance are validated by in-plant test data.

Jan 1, 2007

By Lucius W. Mayer

WHILE the mind of the financier does not normally run along channels similar to those of his technical adviser, engineers, because of their exactness, are ever more called upon to manage affairs where financial matters are involved. It is, true, not a relatively large number have thus far functioned in this capacity. It is also true that the essentially financial mind could not serve in a responsible engineering position; for to be a successful engineer one requires precise thinking, making due allowance for factors of safety. To be a financier seems to require less aptitude for exact thinking than of enthusiasm and confidence in capitalizing prospective possibilities. Both require imagination, the engineer being, more conscious of the limitations of natural conditions. It is to be regretted that the engineer' stands so far aloof from financial matters. Many consider them- selves successful, as did Steinmetz, as long as their reward is the consciousness that they are giving supreme service to mankind. They are 'generally happy in their work and, like our honored brothers who are teachers, gain their greatest satisfaction, not in the amount of their remuneration so much as in the service rendered society and in the excellence of results achieved. Indeed, these sentiments bespeak character and command respect.

Jan 1, 1924

A series of fault slip seismic events have occurred at Garson mine. The events have occurred during development advancement exposing faults, after the extraction of single stopes due to mining induced stress change, and due to time effects after delays of many days during which no mining had been conducted. This paper discusses the study completed consisting of a global or holistic approach aimed at mitigating some of the risks associated with the structurally controlled rockbursts at Garson. Background Garson mine is located in the south east area of the Sudbury Basin (Ontario, Canada). Mining occurs in two main ore bodies (the #1 Shear and the #4 Shear) which are copper-nickel-sulphide and occur within shear zones that (as well as the ore bodies) strike approximately east-west and dip steeply south. From the north (footwall), lithologies progress (Figure 1a) from norite (NR), to greenstone (GS), and finally to meta-sediment (MTSD). A generally WNW-ESE striking, bifurcated sub-vertical dyke of olivine diabase (OLDI) cuts the series. The current active mining block at Garson is between 4700L and 5100L (levels denote depth in feet below surface).

May 1, 2009

By J. Espí

The mineral price assigned in mining project design is critical to determining the economic feasibility of a project. Nevertheless, although it is not difficult to find literature about market metal prices, it is much more complicated to achieve a specific methodology for calculating the value or which justifications are appropriate to include. This study presents an analysis of various methods for selecting metal prices and investigates the mechanisms and motives underlying price selections. The results describe various attitudes adopted by the designers of mining investment projects, and how the price can be determined not just by means of forecasting but also by consideration of other relevant parameters.

Aug 1, 2013

By C. Guan

Since it was patented in 1942, the Crago process with fatty acid rougher flotation followed by deoiling and amine cleaner flotation has become the standard for phosphate flotation in Florida and North Carolina. This paper outlines the basic fundamentals involved in this proven technology. Included are the mineralogy of the flotation feed, the solution chemistry and the interfacial phenomena. The process variables affecting the performance of this technology are also discussed.

Jan 1, 2009

IN this paper it is proposed to present certain features of operating practice at the Port Pirie works of The Broken Hill Associated Smelters Proprietary Limited, in the smelting in a blast furnace of lead ores carrying a high concentration of zinc.The subject matter selected for presentation is:(i) The effect of zinc on lead blast-furnace operations, together with an outline of the methods adopted in actual practice in dealing with the zinc problem.(2) Development of the height of tuyere above the bottom of the jacket, and the extension of the tapping interval and the combined effect of both factors upon the lead content of blast furnace slag.It will later be seen that one phase of the investigation carried out in connection with the effect of zinc on blast-furnace operations was largely responsible for the decision to increase to a marked degree the height of the tuyere above the bottom of the jacket.Due to this interdependence, it has been considered advisable to deal with the two features above mentioned.The high concentration of zinc in the lead-bearing materials smelted at Port Pirie has brought with it those troubles which are associated with zinc in the smelting operation.In the early stages of the history of The Broken Hill Associated Smelters Pty. Ltd. the trend towards increasing cost for labour, fuel, and stores, etc., rendered it necessary to increase the lead content of the charge, and reduce to a minimum the quantity of barren flux used.

Jan 1, 1931

The Effect of Using Different Comminution Procedures on the Flotation of Platinum Group Minerals The use of High Pressure Grinding Rollers (HPGR) has been widely reported to have major benefits in the treatment of minerals such as iron ore and diamonds. To date there have been few investigations into its use in the treatment of ores containing Platinum Group Minerals (PGMs). HPGRs are known to reduce energy consumption and wear costs and improve the throughput in the circuit. In the present investigation the effect of the comparative use of HPGR and conventional crushing in combination with either dry or wet rod milling on the flotation of PGMs was studied using batch flotation. Previous studies of a base metal sulfide ores had shown that either HPGR or conventional crushing followed by dry milling produced the highest grades and recoveries. However in the present study it was observed that a similar treatment produced the worst results and the highest grades and recoveries were obtained for the case of conventional crushing in combination with wet milling. The HPGR showed no advantages in terms of flotation performance and dry milling produced particularly poor flotation results. The results were investigated further using various surface characterisation techniques in order to determine the reason for the decrease in grades and recoveries of platinum when using dry milling and HPGR as opposed to the case for base metal sulfides. The feed and product samples were analysed using ToF-SIMS, XPS and MLA. The paper will propose reasons to explain the different flotation behaviour of the two ore types following the various comminution processes focusing on the surface characteristics of the ores, the particle size distribution and the pulp chemistry.

Sep 13, 2010