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By Douglas D. Donald

The financial analyst's job is to make an objective appraisal of the investment opportunities which exist within the various industries under his supervision within the context of the economic model provided by his firm and the a climate of investor sentiments. Industry analysis is critical. When a major investment trend develops, usually the stock of all companies within the specific industry react in the same direction. I should emphasize here, however, that an investment trend is influenced by the economic outlook, but economics is not the only determinant - investor psychology and arbitrary political factors may be of equal or greater importance. Part of our job is to recognize trends early and determine whether they are valid. Following industry analysis, the analyst must examine the specific companies within that industry since some companies usually react more violently than others to industry trends, whether they be favorable or adverse. To simplify the process of evaluating an investment opportunity, it is convenient to isolate three types of factors which have a bearing on every sort of business although the degree of influence of each factor may vary from industry to industry. These categories are, 1) independent or external factors insofar as they are beyond the control of corporate management, 2) interdependent factors insofar as influence may be exerted by industry-wide action, and 3) dependent factors covering the area of internal decisions which are basically under the control of the individual corporate managers. Although the title of this paper, "The Corporate Use of Cash Flow," is only one segment of the third category, it may be useful to continent on the first two categories as well. The independent factors may be either economic or governmental. The economic factors include cyclicality which may be very high in the case of the basic commodity industries or relatively low as in the case of utilities. Underlying growth rates, another independent factor, may range from the business equipment industry with an annual growth rate of 14% through the electric utility industry with a growth rate of about 7% per year to the

Jan 1, 1970

By Dennis R. Kasper

This study evaluates selective environmental impacts of two distinct in situ mining techniques. In situ leaching of uranium, porphyry copper and native copper and in situ borehole (slurry) mining of uranium, sandstone, and pebble phosphate ores are the techniques and minerals investigated. The potential impacts onsite in the desert southwest (porphyry copper), Michigan (native copper), Texas and Wyoming (uranium), and Florida and North Carolina (phosphate) are addressed and discussed. The study emphasizes those impacts which are unique to in situ solution leaching and borehole slurry mining. Impacts which are characteristic of all construction projects in the general geographical areas investigated, such as socioeconomic effects on surrounding communities and site-specific impacts, such as rare and endangered species, are beyond the scope of this study. For each of the in situ processes and associated ores investigated, the physical and chemical characteristics of the systems are described, the toxicity of the leaching solutions are presented, and the potential impacts on the environment are developed.

Jan 1, 1979

By V Barrera, A Brzovic, M Gaete, L Burgos, E Arancibia

Fragmentation is one of the most relevant parameters in the design and operation of a mine using the caving mining method. Fragmentation affects all subsequent operations, including extraction, comminution processes, secondary blasting and transportation.There are a number of different models in the literature to estimate the size of the ore fragments that report to the drawpoints; however, there is still no industry consensus about which one to use. This paper proposes a new model for predicting the fragmentation reporting to the drawpoints that is based on the geotechnical unit characteristics, extraction height and column of primary ore. The model is developed from observations of fragmentation measurements in different mine sectors of Codelco’s El Teniente mine in Chile.This work focuses on the following three steps:collecting fragmentation and hang-up data from several mine sectorsdeveloping a geotechnical block model using oriented core placed within the main geotechnical unitsanalysing the data and modelling the fragmentation process.The proposed model is used to discuss the mechanisms and the influence of preconditioning on the size of the ore fragments that report to the drawpoints.CITATION:Brzovic, A, Vallejos, J, Arancibia, E, Burgos, L, Delonca, A, Gaete, M and Barrera, V, 2016. Analysis and modelling of the fragmentation process – case studies at El Teniente Mine, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 305–310 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

The theme of the conference this year is diversification. One way to diversify is through acquisition. The principle underlying the winner's curse is that in competitive bidding situations where the value of the asset bid for is uncertain the winning bid will overstate the true value of the asset. The successful bidder is blessed with the winner's curse. What this paper will explore is to what extent this is true; how acquirers can avoid being blessed with the winners curse; and show how joint venture deal structures are used within the mining industry to avoid the winners curse.

Jan 1, 1996

By Clyde N. Baker

Foundations for the Sohio Corporate Headquarters in downtown Cleveland have column loads of 11,400 kips, which increase to 15,000 kips with wind loading. An extensive exploratory program was conducted and comprehensive studies made to select the economically dependable support for the 46-story structure. A test on bond or socket friction for the caissons has usable values.

Jan 1, 1984

A physical modelling study has been carried out to simulate the slag-metal dispersion induced by a high-strength bottom gas injection. Water and kerosene were utilized to simulate metal and slag respectively. A water model of CLU (Creusot-Loire Uddeholm)vessel was used with three different nozzle orientations, namely, off-centre, triangular off-centre and centre. The gas flow rates changed from 0.00599 m3/s to 0.01081 m3/s. Height of heavy and light phases was kept fixed at 0.23 m and 0.02 m respectively. The dispersed phase hold-up was determined at various axial and radial distances, gas flow rates, and tuyere configurations. The observations revealed that at a fixed gas injection rate, as the vertical distance increased in the centerline, straight off-centre orientation resulted in greater dispersed phase hold-up values than those of the centre configuration and the triangular off-centre orientation. The dispersed phase hold-up was found to increase with gas injection rate and decreased with axial distance. The variation of the dispersed phase hold-up with the dimensionless axial distance and the gas injection rate was correlated by using the modified Froude number. The experimental values of the dispersed phase hold-up were found to be in reasonable agreement with the correlated values obtained from the modelling equations. The findings of the present study may be utilized in the ferroalloy refining vessels in terms of designing tuyere locations for optimum processing conditions.

Jan 1, 2004

By L. E. Beverage

In 2006, the Mine Improvement and New Emergency Response Act (?2006 MINER Act?), Pub. L. No. 109-236, 120 Stat. 493 (2006) was enacted in a bi-partisan move to strengthen the 1977 Mine Safety and Health Act. This action followed several underground coal mining accidents at the Sago and Aracoma Mines in West Virginia and the Darby Mine in Kentucky. The focus of that legislation was, in part, to force technological development and implementation. It involved the recomposition and training of rescue teams. Requirements for sealing worked out areas of mines were changed when MSHA invoked its Emergency Temporary Standard (?ETS?) authority for the first time in many years. Increased penalty amounts were established for certain types of violations for all types of mining, and minimums were set for unwarrantable failure violations issued under Section 104 (d)(1) and (d)(2); 30 U.S.C. Section 814 (d)(1),(2). The entire 30 C.F.R. Part 100 penalty criteria was revamped in a rulemaking, effective in April 2007. The visions were ambitious and noteworthy and those in industry and government have spent the last four years working through the aftermath of intended and unintended consequences of these changes. The penalty structure arrived at in 2007 has proven unwieldy and has contributed to the increase in contested caseload now before the Federal Mine Safety and Health Review Commission. In essence, litigation under the Mine Act ground to a virtual halt when the number of cases increased but the budget for Administrative Law Judges, who hear the cases, and the Solicitor?s office who represents MSHA, was not increased. Addressing the backlog effectively was one of the major challenges when Joe Main was confirmed as Assistant Secretary in early 2010.

Jan 1, 2011

By A. Karadogan, G. Tuncer, A. Kahriman

Determination of optimal blast parameters have been the priority act for blasters on the field due to financial and technical properties of the operation. Therefore many researchs were done to establish a general formula for many years. These intends could reach some empirical and numerical design frames consisting the rock, geology and explosives properties. Blasting parameters have to be adjusted according to the desired fragmentation rate especially on the mines where particle size distrubition after blasting has a great importance. Therefore the blast designs have to be evaluated considering the particle size distribution after the blasts. The Kuz-Ram model which was modified by Cunningham is one of the tools for estimating the particle size. Although it doesn’t give an accurate result, it can be very succesful on modifying the blasting design parameters by establishing a back correlation between the blasting parameters and the exact particle size distribution results which can be easily achieved by digital image processing system. Within the scope of this study, the particle size distribution after blasting was assessed by Split-Desktop digital image processing system and bench blasting parameters were studied considering the desired particle size distribution at Espey colemanite mine using Kuz-Ram and digital image processing system combination to determine the specific blasting parameters for this site.

Jan 1, 2005

By A Vigar

Siliceous float sampled in the Wafi River by CRA Exploration in 1977 assayed 22 g/t Au and 89 g/t Ag. Follow up in 1979 led to the discovery of outcropping mineralisation now known as Zone A. Soil sampling in 1980 and 1982 outlined a 350 m by 400 m area of >1 g/t Au at Zone A and smaller areas at Zones B, C and D. Thirty-one diamond holes were drilled between 1983 and 1986. Elders Resources continued evaluation of Zone A under a farming agreement between 1988 and 1990. Mineralised diorite porphyry was discovered in 1990 by drilling conceptual targets 500 m to the NE of Zone A. Evaluation of this copper-gold porphyry became the main focus of exploration for the next five years and a substantial resource was outlined within a single, discrete body. A review of the paths to project development in late-1995 highlighted the need for increased resources via a second mineralised porphyry and/or an additional resource of Zone A size to make the project viable. It was concluded that the greatest immediate potential for increasing the resource inventory was at Zone A itself where the mineralisation was open in all directions. Detailed mapping and drill core logging lead to the geologic and structural models being revised in early-1996. The objectives of the 1996 drill program were to extend the Zone A resource, to test for continuity of mineralisation westwards to Zone B, to better define the controls on gold mineralisation and to delineate high-grade blocks amenable to selective mining by infill drilling and 3D orebody modelling. The last drill hole of 1996 intersected 30 m at 4.6 g/t Au from 273 m in WR147, deep in the western limit of Zone A. This intersection gave impetus to continue drill testing towards Zone B. In April 1997, hole WR154 was drilled 100 m to the west of WR147 and intersected 20 m at 8.5 g/t Au and 70 m at 11.0 g/t Au at similar depths near the diatreme contact. Drill hole WR155 was then drilled 100 m to the west of WR154 and intersected 86m at 5.7 g/t Au and WR159 drilled 100 m to the south of WR154 intersected 36 m at 9.2 and 50 m at 4.4 g/t Au. A significant zone of essentially blind, high-grade gold was discovered beneath the dipping flank of a poorly mineralised diatreme in what became known as the Link Zone. The long history of evaluation has been driven by the conviction of a dedicated team that a mineralised system of the size and complexity of Wafi with strongly anomalous gold in outcrops over the entire Mount Golpu area must contain economic mineralisation hidden within it. The keys which redefined the direction of exploration and lead to the discovery of the blind, high-grade gold Link Zone were, in our view, the critical review of the project status, detailed geological and structural studies to define clear exploration targets and the necessary funding and persistence to carry this through.

Jan 1, 1999

By D. M. Milne, P. J. Lunder, R. C. Pakalnis

During the mining of an open stope, deformation of the hanging-wall and the potential for dilution generally increase with the size of the exposed hanging-wall. Excluding discrete structures that may delineate unstable blocks, the mechanisms that drive hanging-wall deformation and possible dilution comprise several factors which can include elastic, plastic and discontinuum deformation. These stages of deformation are not mutually exclusive and at any point during mining all three of these mechanisms may be acting on the hanging-wall rock mass. Computer modelling techniques are available to analyse the three stages of deformation, but the difficulty lies in trying to obtain realistic rock mass properties for input and in determining when each stage of deformation is acting. Instrumentation data can be used to predict the effect of continued mining. However, it is often difficult to calibrate numerical models against field data owing to the large number of input parameters required. An empirical approach is recommended that uses two new parameters, the radius factor and the effective radius factor. A method is proposed for predicting the effect of continued mining from existing deformation and dilution data for a given hanging-wall

Apr 1, 1996

By Annie G. Smelley

The Bureau of Mines is testing a dewatering technique for phosphatic clay waste that will recover a portion of the water lost using conventional waste disposal methods and produce solids suitable for land reclamation. The technique utilizes a flocculant, polyethylene oxide (PEO), that forms strong, stable flocs that can be dewatered on a static screen followed by further dewatering on a rotary screen. In field tests conducted in northern Florida, clay wastes containing a nominal 2.5 pct solids have been consolidated to greater than 20 pct solids. The rate at which PEO-treated material continues to dewater in a mine cut also was monitored. Preliminary results indicate that PEO--treated material will dewater to 30 pct solids in 140 days. Pretreatment of phosphatic clay waste with lime and H202 was shown to improve the dewatering technique for problem clay wastes.

Jan 1, 1985

Several years ago, Hudco Industrial Products began experimenting with the idea of levitating a conveyor belt with a film of air, much like the puck on an air-hockey table. While conducting its research, the company found out that some Russian and Dutch companies attempted the concept during the 1970s. After studying those conveyors, Hudco determined that its design was better. The Hudco advanced air-supported conveyor consists of an air-tight plenum, or chamber, that runs the length of the belt. The topside of the plenum has a formed trough. It corresponds to the profile of conventional troughing rollers. Low-pressure air is provided to the sealed plenum from a low horsepower blower. This pressurized air is metered and released through the central portion of the trough and reacts against the underside of the belt. The differential pressure between the top and bottom surfaces creates the lift to support the loaded belt. Airtight covers are installed to seal the transported materials in the plenum trough.

Jan 1, 2002

By SANDEEP KUMAR JENA

This review work reports the recovery of potassiumfromdifferent rocks and mineral sources. The global demand for potassiumis rising consistently due to the growth of agricultural production. A major portion of the world potassium production is consumed in making of fertiliser; however, other uses include those in pharmaceutical, glass, ceramic, food and detergent industries. The availability of soluble potash minerals (sylvite, kainite and carnallite) in different countries like Canada, USA, Israel and Russia makes them as major potash producers, whereas agricultural-based countries like Liberia, Somalia, Central African Republic, Thailand, Indonesia and Malaysia including India meet their potassium requirement through import only. On the contrary, the availability of huge potassium-bearing rocks/minerals (like nepheline syenite, feldspar, mica, glauconitic sandstone) in these countries containing around 4–17% K2O would be a prospective for commercial production of potassium. The potassium recovery from minerals/rocks is very complicated due to the uniform distribution of potassium throughout the crystal structure. Different physico-chemical separation methods like bioleaching, chemical leaching, flotation and roast leaching have been discussed for the successful recovery of potash values from these rocks/minerals. However, the recovery of potassium from hugely available seawater using the chemical precipitation, solvent extraction,membrane separation and ionic exchangemethods is not cost-effective due to the low concentration of potassium.

Aug 31, 2020

By Frank E. Chase

Clay veins, also referred to as clay elastic dikes, have been responsible for numerous underground injuries and fatalities. These hazardous structures are also responsible for increased production costs during all phases of mining. For these reasons, the Bureau of Nines has investigated the physical characteristics of and roof instability problems associated with clay veins in order to make support and other mining recommendations. In addition the occurrence and origins of clay veins were examined to determine whether or not the structures could be projected into unmined portions of the coalbed. This investigation included portions of the Arkoma, Illinois, Northern Appalachian, Southern Appalachian, and Uarrior Coal Basins. Virtually a11 clay veins observed or documented occurred in the Illinois and Northern Appalachian Basins. Observed clay veins ranged in sire from 1 inch to 16 feet In cross-section and were found under shale, siltstone, sandstone, and limestone roof rock. Individual clay veins were predominantly composed of claystone; however, limestone. siltstone. and sandstone infilled clay veins do occur. Clay vein formation has been associated with the infilling of fissures which result from compressive, tensile, or shear ground failures. These gaping fissures were propagated by compactional processes and/or tectonic stresses active during and subsequent to coal iff cation. Associated fault, fracture, and slickenside planes commonly parallel clay veins and disrupt the lateral continuity of the immediate and, sometimes, main roof. When clay veins parallel or subparallel the direction of face advance the roof is segmented into cantilever beams causing unstable conditions. Therefore, the strata on either side of the clay vein must be bolted and strapped together to form a beam.

Jan 1, 1984

By James L. Poole

The gold and silver markets from the late 1960's to the present are reviewed and the outlook for these metals in the 1980's is presented. Included in this discussion is a summary of the basic supply and demand balance for gold and silver since the mid-1960's. an explanation of the price formation for the metals, some of the relationships between the prices of these metals and selected economic parameters, and how these factors affect the outlook.

Jan 1, 1981

By I Halikia, T Lilis

Lead smelter slags, produced during the last century in quantities ofmillions of tonnes at Lavrion, Greece, have recently been used in theconstruction of Lavrion harbour. In order to evaluate the geochemicalstability of slags and assess their environmental impact on the aquatic environment, a detailed study on lead leachability under conditions that simulate subsea environments was carried out. Leaching experiments using magnesium chloride solutions under mild temperature conditions were conducted and the effect of main parameters on lead solubility was examined. Furthermore, kinetic analysis on the experimental results was performed. Based on the results, lead dissolution increases by increasing the reaction time, magnesium chloride concentration in the bulk solution and temperature, whereas it decreases by increasing the slags particle size. The reaction order was found to be approximately 0.5 at the initial extraction stages and the activation energy value from the Arrhenius plot was estimated to 29.8 KJ/mole. Diagnostic equations applied to all the experimental data reveal that lead dissolution is mainly controlled by diffusion through the ferrosilicate matrix of the slag particles, which is in accordance with the low activation energy value. The JanderÆs diffusion equation [1-(1-a)1/3]2=kt was proposed as the equation representing the reaction of lead dissolution from slags using magnesium chloride solutions.

Jan 1, 1999

By Thierry Bernard, Jean Marc Laboz

This paper explains why and how integration of EIS (Electronic Initiation System) with dedicated software tools can increase benefits to blasters and at the same time simplify the design of blast sequence

Jan 1, 2000

By Milos Bila

The second half of 2008 and the first half of 2009 brought up important anniversaries. My old passport from Czechoslovakia has a stamp with date 10-10-1968 at 10:00 AM, the exact time I crossed the border between the former Czechoslovak Republic and Austria. This date has an important meaning because I could not come back to my country for the next 21 years. The 40th anniversary of Soviet led invasion, which took place on the 21st of August 2008, revealed some unknown and long time kept secret news.

Jan 1, 2010

In the pursuit of commercial solutions for environmental issues, individual problems are often identified, considered and resolved in isolation from other environmental matters and always at the end of the cycle û after the problem has been created. Inter-relationships are neglected if they are not seen to obviously impact on a specific problem and the issue at hand is plucked from the environmental landscape and dealt with in total isolation to all else. In a Zero Waste approach to environmental matters, all outputs are pursued as potential inputs. Industrial processes are viewed as a variation on natureÆs theme and opportunity pursued above all else. When viewed from this perspective, industry appears to have forgotten its origins. It has forgotten that it is principally about people. The juggernaut of global trade has forgotten that it is a small part of a big landscape and that its principal participants, people, cannot exist without healthy soil. Commercial activity in all parts of the world relies heavily on the ability of agriculture to produce the necessary inputs for industrial production. The care and nurturing of our soils is fundamental, not only to the survival of humanity, but also to the economic systems that support that humanity and to the industry which profits by it. Actual levels of domestic recycling in many countries around the world seldom reflect the 90 plus per cent desire to recycle recorded in surveys conducted by local authorities in almost every country. If the desire to recycle is far removed from the end result, why is it that the systems provided are so ineffective? It is obvious that what we do need is a recycling system that both engages and rewards the participant and stimulates the innate desire to support the environment. A recent trial in New South Wales, Australia, demonstrated that by giving individual households credits for recycling organic wastes, not only will contamination levels fall dramatically, but increased yields, improved soil structure, improved land values, reduced fertiliser costs and increased water use efficiency give the farmer good economic reasons for purchasing and applying quality composted product. By underpinning and securing the agricultural community, we secure the future of industry. The æCity to SoilÆ project linked the economic on-farm benefits of compost use with reduced contamination through the provision of rewards paid for by the purchase of product by the farmer.

Jan 1, 2006

By Harumasa Kurokawa

Since the initial start-up, the Toyo Smelter & Refinery has been operating in harmony with the ambient environment, and improvements have been implemented with technologies specifically developed for further protecting the environment. Toyo Smelter & Refinery is now planning to increase the copper production capacity from 280,000 tpy to 450,000 tpy, over a period of several years. In 2003, the first step of this smelter expansion and modernization plan was implemented. The production capacity of the P-S converter was increased dramatically, as it became possible to operate under a ?2 hot-2 blowing? schedule. In 2005, an additional converter will be installed, in order to allow operation under a ?3 hot-2 blowing? schedule. This report will describe the technical improvements on the P-S converters, as well as describe the Toyo expansion program and discuss the technologies applied to the fugitive gas collecting system.

Jan 1, 2005