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By George A. Roche

Investment in growth stocks is the most assured way of achieving superior, long term investment accomplishment. There are many criteria used to select growth companies but the most important is a combination of superior management operating in an industry with above average growth potential. This growth stock approach is the cornerstone of investment strategy for two of the three mutual funds sponsored by the Price organization and for its private clients. However, during the past five years inflation has accelerated due to a variety of factors including the inability of government to meet seemingly unlimited needs with limited revenue sources.

Jan 4, 1972

By Jürgen Kretschmann

The Islamic Republic of Iran is a very important producer of raw materials in the world. The country holds 68 types of minerals, including salt, sand and gravel, chrome, lead, zinc, copper, coal, gold, and iron-ore. With more than 37 billion tons of measured and indicated reserves and 55 billion tons of total mineral resources, Iran is ranked among the 15 major mineral-rich countries. Sangan iron-ore mines (SIOM) is one of the biggest iron ore mining complexes in Iran, located in a remote, but strategically important area near the Afghanistan border. The Iranian government has planned several mining projects in this region for a stepwise development over the next 5 years to satisfy the growing demand of the Iranian steel industry. In cooperation with private companies, these projects shall be realized as sustainable as possible. This paper introduces SIOM and describes socially responsible activities undertaken during the initial development of this mining complex. The effects of these activities will be demonstrated. Unique attributes of the Sangan area have a significant impact on the acceptance of SIOM by regional stakeholders. The government has made several social investments that benefit workers´ families and the community. They are attempts to build social capital for the mining operations and demonstrate a commitment for socially responsible mining to the communities and the local population. They aim to create a balance between the local and regional expectations and requirements and the necessity to secure the corporate profitability at a reasonable and sustainable level. Investment in socially responsible activities is not a choice but a necessity to improve the relations between mining companies and stakeholders in the communities. It is recommended that social investments should be carefully planned and implemented from the early stages of mining activities, and should proceed throughout the life cycle of the mines.

Aug 1, 2013

Banks' focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers' approach by: ò outlining the fundamental difference between banks' and investors' risk / return profiles. ò describing lenders' consequent use of cash flow methods in mineral valuation. areas. explaining lenders' specific treatment of key risk Fundamental to understanding banks' appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks' principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders' risk / return position is outlined.

Jan 1, 1994

By A. Torrance, M. G. Seo

Velocity of detonation (VOD) is an important variable when evaluating the performance of mine blasts. Typically, for a VOD measurement, individual probes have to be loaded into each blast hole that requires a measurement, which increases the loading time and is not representative of the whole blast. Experimental studies of electromagnetic pulse (EMP) from the detonation of explosive charges show that electric and magnetic field signals are observed when chemical explosions occur in the air, at the ground surface, and in the underground. EMP has the potential to evaluate VOD of the whole blast without impeding the loading process. Due to a variety of physical causes which make the electromagnetic effects complex, measuring EMP of the detonation of explosive charges has not been fully studied yet. Five different antennae were tested with explosives, which are commonly used in mining industry. Among the five antennae, aluminum and copper tape, and wire were successful to detect the EMP. INTRODUCTION The measurement of the velocity of detonation (VOD) helps in evaluating and comparing relative performance of explosives in mine blasts. A VOD of an explosive is usually predicted by empirical mathematical equations or measured in-hole by VOD meters. However, conventional methods to measure a VOD have constraints: only a limited number of holes can be measured because cost of consumables for such systems is very high, and systems only allow a certain number of holes to be measured. The measurement cables have to be placed into the holes prior to loading with explosives which means that preparing to take the measurement is time consuming and has to be well coordinated with the mine. In order to evaluate VOD for a whole blast, there is a possibility of using electromagnetic pulse (EMP) from the detonation of the explosives. As there are many parameters that affect the generated EMP from explosive charges, measuring EMP of the detonation of explosive charges has not been fully studied yet. Most studies conducted relate to military related explosives, not the ones frequently used in mining industry. This research has been performed to have a better understanding of EMP from the types of explosives which are commonly used in the mining industry. To discover a way to detect EMP efficiently, five different types of antennae have been studied in the air and in the underground blasting conditions: coil, monopole rod, log periodic, wire, and aluminum and copper tape. LITERATURE REVIEW Conventional methods of measuring VOD Over the years, demands for more accurate theoretical predictions and physical measurements of the effects of the explosives have increased. Especially when both demand and commodity price decline, mining companies are keen to understand the effectiveness of explosives since it has a direct relationship with fragmentation, which influences their production rate. Since the 1940s, various methods have been devised to determine VOD of explosives.

Jan 1, 2019

By Alice M. Chieruzzi

This Country Documentation Report presents the development of economic indices for Zambia for the period from 1970 through 1981. The work done through the Bureau of' Mines, Minerals Availability Program, under Contract number J0225001. This contract calls for the development of twelve index time series describing factor input costs in the mining sector of 95 countries. The twelve index time series describe the costs of: 1) mining wages, 2) construction wages, 3) equipment and repair parts, 4) bits and related steel, 5) timber and lumber, 6) fuel, 7) powder and blasting agents, 8) tires, 9) construction materials, 10) industrial materials, 11) transportation, and 12) electrical power. These indices combined with weight factors being developed by the personnel of the Minerals Availability Field Office (MAFO) of the Bureau of Mines in Denver, Colorado, will be used to perform instantaneous updates of all costs relating to the mining industry. The indices were developed primarily for use in the Bureau's Minerals Availability Program in assessing the worldwide availability of nonfuel minerals.

Jan 1, 1983

By A. L. Marshall, F. J. Norton

THE object of this investigation was to make a comprehensive study of the degassing of molybdenum in order to determine how rigorous a treatment was necessary to completely remove sorbed gases from molybdenum electrodes in vacuum tubes. Some work has also been done with tungsten, nickel, iron and carbon. As a logical development of this work it has been shown that the gas is present throughout the body of the metal and a study has been made of the solubility of nitrogen in molybdenum and tungsten and the rate of diffusion of nitrogen through molybdenum has been calculated. Tests were made on molybdenum from all the commercial sources and no difference was discovered in the nature of the gases present, the amounts or the ease of removal. The reason for this was apparent when a study was made of the manner in which gases are absorbed by gas-free molybdenum. It is necessary to heat molybdenum to 1760°C.oin a vacuum of the order of 0.001 micron for a time which varies lineally with the thickness, in order to obtain a condition in which no further gas is evolved by the sample. A sample so degassed can be handled and subsequently assembled in a tube and then degassed readily. The gases obtained from molybdenum are carbon monoxide and nitrogen, the nitrogen being the more difficult to remove. APPARATUS AND TECHNIQUE The apparatus is shown in Figs. I and 2. It consisted of two units, a degassing system and an analytical system. Each had a bake-out oven, as shown surrounding the systems in the sketches. The system will be traced, starting from the sample in the degassing system. A water-cooled quartz chamber surrounded the sample. The high-frequency coil, which heated the sample, extended only around this chamber and was cooled by an air blast. High-frequency power of 0800-meter wave length was obtained from a self-rectifying oscillator circuit with a maximum power input of 20 kw. A graded seal connected the quartz to the rest of the apparatus, which was of hard' glass. The temperature of the molybdenum sample was observed by an optical pyrometer through an optical window about 40 cm. distant from the sample. Since the object viewed under these conditions was not 'a black body, true temperature was not observed, but the so-called "brightness temperature." The correction of this to true temperature is discussed in a later section. The apparatus was taken apart just above the graded seal; the quartz chamber was slipped off, washed with nitric acid, water and alcohol, and dried by an air stream. The old sample was removed by

Jan 1, 1944

By F. Doxey

Introduction Numerous papers have been written dealing with the construction and functions of, and the environmental conditions created by, Diesel locomotives. Therefore, it is not my intention to attempt to deal with these phases of Diesel transportation other than to make reference to them in ?relation to and in connection with actual operation. The rapid expansion of industry during recent years and the necessity of products being made available at competitive prices in home and world markets has made the demand for cheaper coal a very serious factor for the coal industry. This condition has meant each coal producing country looking into ways and means whereby greater productivity and reduction in cost could he achieved. Surveys made show that, in addition to face mechanization, savings, in some cases substantial, can be made in transportation. Ventilation The most efficient mines are in-variably the well ventilated ones, for it is true that, where there is good ventilation, there are usually good roads. These combined factors are very essential where Diesel locomotives are used. Good roadways and track allow speed, and good ventilation dilutes rapidly any disagreeable exhaust gases. Locomotive Development In the older types of auxiliary rope haulage, coal hauled per haul-age hand is usually very low.

Jan 1, 1951

By C. Musingwini

The South African mining industry continues to be a major source of employment at a time when at least 25 per cent of the working age population is unemployed. At the same time the industry faces a skills shortage in many of the disciplines necessary for its future health. The University of the Witwatersrand, University of Pretoria, University of Johannesburg, and University of South Africa have historically produced mining graduates for the South African industry, with any shortfall being met by the recruitment of overseas graduates. More recently the global shortage of engineers and other mining industry professionals has seen a reversal of this trend and a very significant emigration of well-educated and highly skilled personnel. The traditional career path for mining graduates is in production and mine management. However, there is the parallel and possibly more pressing need for specialized skills in such fields as ventilation, rock engineering, mine planning, mineral resource evaluation, and mineral asset valuation. It is in these essential areas that chronic shortages continue to hamper the development of the industry and may well frustrate its ambitions to be safe, healthy, and profitable into the future. The permeability of skills across sectorial boundaries within the mining industry requires that skills shortages in the platinum sector are not looked at in isolation, but within the context of the entire industry. This paper reviews the efforts being made by the universities at both undergraduate and postgraduate levels to meet the needs of the South African mining industry, in terms of the required numbers and the range of specialized skills.

Jan 1, 2012

By A. O. Sfriso

"Numerical modelling is becoming universal in rock engineering practice. Most applications focus on the prediction of failure loads of 2D problems, where the numerical models are useful extensions to analytical methods and experience-based design criteria. For 3D problems and problems where the assessment of serviceability indicators – displacements, ground-structure response, etc. – are of importance, the selection of the constitutive models themselves and the implications of the selection of material parameters may have a very heavy impact on the reliability of the model outcome and its predictive capability.This paper overviews basic common aspects of constitutive equations used in practical rock engineering and summarizes some challenges that are frequently observed when reviewing numerical models performed for routine problems in rock engineering. INTRODUCTIONNumerical methodsFrom a philosophical perspective models, either analytical or numerical, are idealizations of a perceived reality. For us engineers, models are just tools we use to guide our judgement and understanding of the problem in hand. When dealing with problems in rock engineering, we resort to a wide range of techniques:1. Closed form solutions like confinement-convergence methods for circular tunnels: these methods satisfy equilibrium and compatibility requirements at the cost of a crude simplification of the material behavior and geometry;2. Limit analysis methods, like bearing capacity formulas: lower bound methods satisfy equilibrium but sacrifice compatibility, and upper bound methods do the opposite. Material behavior must be simple, geometry admits limited freedom;3. Limit equilibrium methods, like method of slices for slope stability: they satisfy restricted forms of equilibrium, do not satisfy compatibility requirements, require simple material behavior but have a much greater flexibility on geometry;4. Numerical methods, where a mesh is employed to discretize the problem geometry: when properly formulated, these methods satisfy equilibrium and compatibility requirements and give reasonable approximations to the behavior of very complex geometries and construction sequences. Very little restrictions remain on geometry and material behavior, but the cost of calibrating the material parameters can be very high."

Jan 1, 2015

By Jim Glider, Noah Miner

The Gordie Howe International Bridge is a project to build a cable-stayed bridge and border crossing across the Detroit River. With a span length of 2,800-ft (853.4 meters), the Gordie Howe International Bridge will have the longest main span of any cable-stayed bridge in North America. Each tower has two legs that are supported by six drilled shafts each for a total of 12. The tower shafts are 9.84 feet in diameter (3-m) and extend well into bedrock. 17 each, 6.6 feet (2-m) drilled shafts were built to support the aging river bulkhead and replace shipping bollards. In addition to shallow groundwater fed by the Detroit River, artesian conditions at depth result in a water head that is approximately 17.2-ft (5.2-m) above surface. At 95-ft (29-m) below grade Dundee Limestone, of the Detroit River Group, is moderately weathered and fracture density decreases with depth. The Dundee Limestone strength ranges from 8-ksi (55.1-MPa) to 12-ksi (82-MPa) and may carry hydrogen sulfide in fractures. Working through casing that sticks three stories out of the ground is less than ideal, but was necessary to maintain a positive fluid head and prevent artesian-related quality issues. The sheer scale of the bridge forces required a load test configuration that could impart an equivalent static load of over 38,000,000 pounds (170-MN). A suite of QA/QC tests was developed to ensure the shafts would meet the project plans and specifications to include critical base cleanliness criteria. Interesting CSL and TIP results obtained highlight the strengths and weaknesses of each test method. Cleaning drilling fluids with a centrifuge allowed recycling of product and reduced exposure to environmental contaminate exposure. Having large construction equipment working next to the river presented challenges in working pad design. A driven pile system was developed to support high oscillator forces and protect the aging seawall.

Sep 8, 2021

By A. Keith Brewer

RECENT advances in the fields of chemistry, biology, and metallurgy have confronted the analytical chemist with an entirely new set of problems. Development of plastics and synthetics has brought about a need, not only for adequate methods for their analysis but also for the various raw materials entering into their manufacture. The remarkable advance made in biochemical and agricultural research resulting from the use of isotopes as tracers or "tagged atoms" has established the necessity for the development of methods for the concentration of natural isotopes and for a means for their analysis. Similarly the advent of new and complex alloys calls for accurate analytical methods. Fortunately the analytical chemist has been able to meet some of these new demands by adapting to his purposes an instrument which has long been the most exclusive toy of the physicists. Solubility and the chemical properties of the atoms, which have always served as the basis for chemical analysis, do not enter into this new technique. Instead, momentum, defined as mass times velocity, is utilized as the means for the separation of atoms or mass groups.

Jan 1, 1946

By D. Carr, C. Anderson, M. Deal, C. Larson

"Construction of the OceanaGold Haile operation’s process plant in Kershaw, South Carolina is currently under way, with ore through the mill expected in late 2016 and commercial production expected in early 2017. The process is designed to treat 6,350 tonnes per day with minor upgrades required to achieve 8,270 tonnes per day. Plant optimization during detailed engineering, combined with a focus on de-risking the process, has resulted in numerous process changes since the initial design. This paper describes the plant optimization and de-risking, it also presents a proven commissioning strategy modelled after OceanaGold’s Didipio operation, whilst identifying potential expansion opportunities. INTRODUCTION Haile Gold Mine is located in Kershaw, South Carolina, approximately 50 miles south of Charlotte, North Carolina. Gold was first discovered at the site in 1827, and the property has been through several operating periods since. The last operation employed heap leaching from 1985 through 1992. Since then, the property has been closed and fully reclaimed. Romarco Minerals acquired the property in 2007, and began an exploration program that delineated 2.02Moz. of gold in reserve at an overall grade of 2.06 g/t. OceanaGold acquired Romarco Minerals and the Haile Operation in October of 2015. OceanaGold operates under a risk management philosophy in all aspects of operation, both corporately and at each individual business unit, and has implemented numerous process changes to eliminate or mitigate risks identified in the initial design of the processing circuit, and provided increased opportunity for optimization and expansion. This paper describes the plant optimization and de-risking, it also presents a proven commissioning strategy modelled after OceanaGold’s Didipio Operation, and identifies potential expansion opportunities. INITIAL PROCESSING CIRCUIT DESIGN An extensive metallurgical test work program was undertaken by Romarco Minerals and third party laboratories during the initial design phase of the Haile project [1]. This preliminary test work provided the technical information as a basis of plant design. The initial flow sheet for the Haile processing circuit is shown in Figure 1 (see APPENDIX). The plant is designed to process 6,350 tpd (7,000 stpd) on an annualized basis. The process begins with a jaw crusher followed by a SAG and ball mill grinding circuit to reduce particle size to P80 74 µm. A flash flotation cell treats 50% of the cyclone underflow in the ball mill circuit. Grinding circuit product is sent to a rougher flotation circuit to recover gold-bearing pyrite. The flotation concentrates from flash and rougher flotation are reground to P80 13 µm using stirred media detritors (SMD’s). The rougher flotation tail is pumped to the carbon-in-leach (CIL) circuit for gold recovery. The reground concentrate is pre-aerated prior to being pumped to the CIL circuit. The CIL circuit is a hybrid circuit with eight tanks. Tank 1 leaches the pre-aerated concentrate only, and tanks 2 through 8 leach the combined flotation tailing and tank 1 discharge. The carbon strip circuit is a standard pressure Zadra system, followed by electrowinning, and refining using an induction furnace. CIL tailing passes through a cyanide recovery thickener prior cyanide destruction and then pumped to the tailing storage facility (TSF)."

Jan 1, 2017

By J S. J van Deventer, D C. Shallcross

New developments are taking place in the recovery of gold from leached pulps that are based upon the adsorption of the metal cyanide species onto ion exchange resins. Despite the success of several resin-in-pulp pilot plant operations in the Western World and large-scale plants in the former Soviet Union, the process is yet to gain recognition as a viable alternative to the carbon-in-pulp process. An experimental research program has investigated the use of a variety of different types of resins for the recovery of gold, but to-date no resin studied has the desired properties of high selective loading capacity for gold cyanide and a simple inexpensive elution procedure. In addition very little is known concerning the physical strength of resins and their ability to resist shattering due to osmotic shock during cycles of adsorption and elution. The ability of ion exchange resins to enhance the leaching of refractory and re-adsorbing ores has not been investigated. This paper highlights the necessary factors that need to be addressed before commercialisation of ion exchange technology for gold extraction is feasible.

Jan 1, 1998

By Fred W. Johnson

The first section of this circular has been prepared with a view to answering inquiries frequently received by the Bureau regarding laws governing the staking of claims and regulations covering requirements for holding them and obtaining title in fee to placer ground. These laws and regulations were summarized briefly in Information Circular 6796, "Placer Mining in the Western United States." These laws, however, are administered by the General Land Office, Department of the Interior, and it has been considered advisable to combine an authoritative résumé thereof by the Commissioner of that Bureau with information on small-scale placer mining previously published by the Bureau of Mines. The second section of this circular is largely a revised reprint of Information Circular 6611, "Small-Scale Placer Mining Methods", first published in April 1932 for the purpose of answering the many daily inquiries then being received on this subject. This circular has been reprinted repeatedly, and about 30,000 copies have been distributed, most of them in response to applications therefor. At present (June 1937) requests for this publication continue to be received daily.

Jan 1, 1938

By Rudolf Lesch

Till date, coke has been produced mainly from coals with a content of volatile matters in the range of 20% to 28% and good coking properties. If such so-called "selfcoking" coals are available, blast furnace coke or foundry coke with the required quality characteristics can be produced in top-charged horizontal ovens. In this case, the possibility of using high-volatile coals and in particular coals with low-caking properties is very restricted. Even if high-volatile coking coals have good coking properties, coke produced from such coal alone will not meet the requirements in terms of coke strength. The mechanical coke properties are influenced by the charge coal blend and the coking conditions. In this context, the bulk density of the oven charge is a decisive factor. Research and development in the field of coke production in horizontal chamber ovens aims at improving the specific oven throughput, increasing the raw material basis and introducing environmental protection technologies. The key factor, however, is to guarantee and further improve the rentability of the coke production. It is very important to reduce the cost of the charge coal to a minimum at the same time maintaining or even improving the coke quality.

Aug 17, 2017

By K. Oraee

A comprehensive, harmonic and sustainable development has always been a real concern of state policy makers. To reach such development, regional planning is an approach which is widely applied. This paper deals with policies adopted by a given country with rich mineral deposits, in order to accomplish a mining growth as well as economic development in relatively poor regions. In this regards, first, some worldwide experiences belonging to China, with large scale mining operations and Nigeria with a small scale mining industry, are studied. The mining industry in Iran is then considered as a case study. The study continues by categorizing and prioritizing Iranian regions based on their mining potential and the degree of development, using statistical analysis and Taxonomy and AHP techniques. Results obtained serve to provide recommendations as to where capital investments in the mining industry would produce highest returns. The approach used, together with the practical policies suggested in this paper, can be used to adapt appropriate strategies for mining development in a way that contributes to regional development and a more effective income distribution.

Jan 1, 2012

By R. K. Singhal

A variety of mining equipment is used in the mining of oil sands by surface mining. This includes bucket wheel excavators, draglines, hydraulic shovels and off-highway trucks. This paper examines the existing mining schemes and equipment used Peculiarities of oil sands surface mining and their influence on equipment selection, utilization and mining schemes are described. Recent developments undertaken to improve mine productivity are also dealt with together with some notes on proposed measures to obtain further gains in productivity.

Jan 1, 1985

By James McManus

The original analogue instrumentation at Lornex Mining Corporation to optimize the throughput by controlling the power drawn by the semi-autogenous mills was found to be inadequate because of the frequent changes in ore type. Although the trunnion bearing pressure of the mill was a crucial control criterion, it was not utilized in the original control scheme. After several plant tests of different types of analogue controllers were unsuccessful in finding any control equipment suitable for this application, it was concluded that a digital process control computer was required. Computer control strategy to optimize the grinding rate by controlling the power and the bearing pressure of the semi-autogenous mill was developed and a Fox 2 /30 computer made by Foxboro was selected. After six months of experimentation, it was found that the throughput was increased substantially by computer control.

Jan 1, 1978

By S G. Gemell

"The financial model is an integral component of any project evaluation based on mineral resources, ore reserves and (at least internally) exploration targets. Given the unity of purpose for preparing financial models for project evaluation purposes, the diversity of both format and content of the finalised models is surprising. Many models are prepared by staff or consultants who are comfortable with a particular format that may be used for other purposes, such as budget preparation or financial reporting. It is natural in these situations that the practitioner will take these models and adapt them to the purpose. The end result may or may not succeed in providing a clear, accurate and sufficiently detailed view of the project’s economic viability.When preparing a model, the practitioner should be cognisant of the interpretation and review, or audit, process. The auditor may be a consultant or employee of a bank, potential equity provider or of the project sponsor itself. Depending upon the scale of the project and the level of participation of the entity that the auditor represents, the financial model will be interrogated more or less rigorously. In any event, the end user will require the model to permit easy change of inputs and will wish to confirm that such change is appropriately and thoroughly transmitted throughout.Accordingly, there are some ‘dos and don’ts’ that can be readily applied in the creation of the financial model that will greatly assist the end user, not just in the change of inputs, but also in reviewing the model’s integrity. The less time and effort required by an auditor in this regard is reflected directly in the cost of the review process.CITATION:Gemell, S G, 2016. Financial modelling with the auditor in mind, in Proceedings Project Evaluation 2016, pp 172–180 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By G van Niekerk, M Wortley

Screening is a critical part of many mineral processing circuits and keeping the aperture of the screening media within specification is vital to ensure efficient performance of the processing plant. Typical ways of estimating and/or measuring the wear of the screening media vary from very subjective methods (for instance, using the human eye) to manually checking the width of a few of the more severely worn gaps with a measurement device. Subjective methods can be flawed by human error while manual checking can distort the polyurethane or rubber materials that are used in several types of screening media. All of these errors can cause either premature replacement of panels or, even worse, poor screening of the material.Metso Process Technology and Innovation (PTI) and Metso Screening Media Solutions (SMS) have developed an innovative method that measures screen aperture using advanced image processing techniques. Field trials of the device are presented in this paper, which shows the comparison between the different methods of measuring apertures. Case studies demonstrate how the system, when combined with ScreenTrack, MetsoÆs industry leading maintenance system, and screening media, is providing users with the best possible screening solutions.

Sep 26, 2011