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By Gordon T. Austin

The combined production value of natural abrasives, which consist of tripoli, special silica stone, garnet, staurolite, and emery, increased in 1987. The increase was, in certain cases, because the materials were used in nonabrasive applications, such as the increased use of tripoli as a filler and special silica stone material as a special-purpose crushed stone. The increased use of garnet as a blasting media accounts for most of its growth. Production and sales of garnet were at a record-high level in 1987. [ ]

Jan 1, 1989

By George B. Saunders

The mines in western Canada producing steam coal will find a better opportunity this year to market their product in Winnipeg - for two reasons: First, the new wage schedules, signed with local unions at each mine, have enabled them to reduce the selling price materially. Second, the duty on slack coal coming in from the United States has been raised to 50 cents, which is equal to the duty on run-of-mine coal. This has had the effect of raising the cost of mine-run to .the importer. Formerly, it was the practice to bring in slack coal under a duty of 14 cents and lump coal under a 53-cent duty and, by judicious mixing of the two, manufacture a mine-run coal at an average duty cost of about 22 cents. Fortunately, through efforts of the Alberta Government, and other friends of the Canadian coal trade, the Federal Government was persuaded to adjust the duty on slack coal as indicated. While it will be found that the Manitoba market, this season, is slightly more easy of access we have still a long way to go before we reach the desired goal. Geographically and economically the Manitoba market should belong to western Canada. However, it has been found a very profitable market for United States mines because large tonnages of coal can be shipped, practically at the convenience of the mines, via the Great Lakes, during seasons of slack business. They will therefore not relinquish this market without a struggle.

Jan 1, 1925

By H. Masuda

The lijima Zinc Refinery started operation in 1972, and has today an annual capacity of 200,000t-Zn. The hematite process was employed for the first time and the ideal of waste-free refinery has been pursued for 30 years. In recent years, however, only half of the hematite produced would be sold to the cement industry and hence a reduction of arsenic level has been necessary in order to sell the entire amount produced. The arsenic cementation process with zinc powder, developed through a long time laboratory research was found among some options as the best for the hematite process. The construction work started in 2000 and the facility was put into operation in 2001, As a result in the same year all hematite were sold to the cement industry. The outline of this project, present operations and technical issue are reported in this paper.

Jan 1, 2003

By H. H. Murray

In the past thirty years, there have been a large number of ownership changes in the industrial minerals arena and many medium to large companies have made industrial mineral acquisitions. Industrial minerals are exceedingly important to the achievement and maintenance of a high standard of living in the United States and in other developed countries. In the developed countries of the world the value of industrial minerals exceeds the values of the metallic minerals. In the U.S., the value of our industrial minerals is some 2 112 times that of the value of our metallic minerals. Almost every single thing we use or touch in our daily lives can be related to an industrial mineral. Examples are the construction industry, agriculture, ceramics, paper, paint, plastics, electronics, glass, petroleum, and many more in which an industrial mineral or minerals playa functional role. Industrial minerals are exceedingly diverse in their values, properties, and applications. Sand and gravel is an example of an essential industrial mineral commodity which has a low price but moves in very high volumes. Geographic location of this commodity is critical because of transportation costs. High calcium limestone or marble has a moderately high price particularly if it is white enough for use as a pigment or extender. This moves in moderately high tonnages and location is not as critical be-cause it can be shipped for considerable distances and still be competitive. Some specialty industrial minerals such as a white tale or white bentonite sells at a high price at low volumes and geographic location is not a major factor in marketing. Prices of industrial minerals do not tend to be cyclic and generally keep up with inflationary increases. Because of the diversity of industrial minerals very careful analyses of acquisitions or divestitures must be undertaken by buyers and/or sellers in order to prevent serious mistakes.

Jan 1, 1994

By Roberto Antoniolli

"IntroductionSINCE ancient times, the precious metals have played an important role in influencing the course of history. Silver and gold happened to occur, although in small amounts, in those countries where the early civilizations developed. Their persistent brightness certainly amazed the primitive people, who also found it easy to shape them into ornaments •and implements. Ever since then their properties have made them seem desirable possessions.Use of precious metals as money was the natural consequence of man's desire for them. The possibility of changing an ornament into a tool or food at any time, and the ease with which such medium of exchange could be carried and hidden, further increased the demand for the two metals.Silver was probably discovered after gold and copper, and was undoubtedly found by prehistoric man as native silver. The oldest silver articles have been discovered in Chaldean tombs and date back to 5000 B.C. The earliest ascertained producers of silver were Asia Minor and the Iberian Peninsula. The Romans worked deposits in Spain, Britain, and France. In the Middle Ages, some silver was extracted from German deposits, and near the end of the Middle Ages systematic workings were carried on at Freiberg, Schneeberg, and Joachimsthal (1).Before the discovery of the New Continent, the Aztecs and Toltecs in Mexico, and the Incas in Peru, had made extensive use of silver. In the 16th century the Mexican deposits became the largest source of the world silver."

Jan 1, 1954

By Gerald C. Dohm

INTRODUCTION After a mining company has discovered a mineral deposit, the problem is then how to mine and process that deposit the best way. The principal problem facing managers or engineers who must decide on mine plant size, equipment selection, and long-range scheduling is how one can optimize a property not only in terms of efficiency but also as to project duration. Mine opti¬mization is dependent upon the interaction of con¬tributing parameters which leads to maximizing the net present value (NPV) Realistic mine planning is the key, to the analysis. The process is to be used when evaluating undeveloped properties or when a complete revamping of existing facilities is scheduled The proc¬ess is not intended for detailed mine design but rather for property evaluation and feasibility studies. The derivation of the various input parameters will only be discussed to the point where a meaningful correlation can be made with the overall analysis. The interrelationship of the parameters will be the central point because most company guidelines and financial analysts have their own standards when deriving the various inputs. Assume that the data is totally acceptable and pro¬vides at least the following categories of information and guidelines- (1) mineral and waste inventory; (2) geologic, hydrologic, and geotechnical criteria; (3) topographic layout including property boundaries; (4) metallurgical flowsheet, recovery and design criteria; (5) access, water, power, and environmental base-line study; and (6) financial constraints (minimum rate of return, payback period, etc).

Jan 1, 1979

By T. R. A. Davey

The technologies of lead, zinc and tin extraction have made varying degrees of progress over the past twenty years. Producers of all metals have faced increasing demands for reduction of pollution and environmental degradation, and the level of public concern is rising rather than abating. New processing techniques must therefore be not only economically feasible, but politically acceptable, even when the demands of "conservationists" and ?environmentalists? are unreasonable. A new generation of processing techniques has come into being, which do not rely on an expensive sintering stage, nor use metallurgical coke, which is difficult to make without serious pollution. They utilise intense reactors, conveying materials from one stage to the next preferably within an enclosed space, obviating fume emissions, and avoiding heat losses as far as possible. The acceptability of the new techniques? is increased if lowgrade or complex materials can be treated, along with a variety of returns and wastes. In addition, a good selling and servicing organisation seems to be as important as good process technology in determining the spread of the new processes. In the field of pyrometallurgical refining the need is for more general application of several recently developed techniques rather than a search for alternatives to the existing process technologies. However, there is a need for fundamental work investigating the phenomenon of oxygen anode overvoltage in the electrolytic zinc process, in order to make progress in the further reduction of energy consumption. There is also scope for further development and application of vacuum distillation to up-grade thermally produced zinc. This paper presents a personal view of processes which should be developed to overcome existing problems, as we approach the turn of the century,

Jan 1, 1990

By H. Masuda

The lijima Zinc Refinery started operation in 1972, and has today an annual capacity of 200, 000+-Zn. The hematite process was employed for the first time and the ideal of waste-free refinery has been pursued for 30 years. In recent years, however, only half of the hematite produced would be sold to the cement industry and hence a reduction of arsenic level has been necessary in order to sell the entire amount produced, The arsenic cementation process with zinc powder, developed through a long time laboratory research was found among some options as the best for the hematite process. The construction work started in 2000 and the facility was put into operation in 200 I. As a result in the same year all hematite were sold to the cement industry. The outline of this project, present operations and technical issue are reported in this paper.

Jan 1, 2003

By Charles Janin

ONE of the most interesting features of the world's platinum situation has been the steady increase of Russian production, which had dropped to 11,000 oz. in 1920, but increased to 92,000 oz. in 1926, and to probably over 100,000 oz. for 1927. It is ex-pected that Russian production of platinum will, be-fore long, closely equal its pre-war production, or approximately 200,000 oz. annually. The world production before the war was around 250,000 oz.; that for 1925 has been estimated at 160,000 oz., and for 1926 probably 170,000 oz. The consump-tion of platinum has, however, decreased. The esti-mate of the International Selling Agency was a de-mand of 130,000 oz. new platinum against a normal pre-war demand of over 200,000 oz. The high price of platinum during the war gave an added impetus to the search for substitutes for the metal, and sev-eral were developed that are now used extensively in place of platinum. The demand for platinum for high-class jewelry, however, was not greatly affected by the high prices, but "white" gold did replace platinum in the cheaper jewelry. Colombia is the most important producer of plati-num, next to Russia, and the production has increased from around 10,000 oz. pre-war production to 55,000 oz. or more in 1927. In 1924 important discoveries of platinum were made in South Africa. Prior to these discoveries practically all platinum was recovered from alluvial deposits, and the South African opera-tions are first to work an ore profitably for the pri-mary recovery of platinum. A number of companies were formed to develop these deposits, but only a few made any real progress. Total production for 1926 was about 5000 oz. The United States production is unimportant; that in Canada has increased to around 9000 oz., principally as a by-product in nickel-copper ores.

Jan 5, 1928

By L A. Martinez Tipe, J McKibben, S Barry

"Metal prices are central to a mineral investment decision and have a profound impact on the financial performance of companies in the mining industry. At its most basic level, metal prices are influenced by the disequilibrium between international metal volume supply and demand. That is, the commodity price is a regulator that equates international metal supply and demand where inventories act as a buffer between the emergence of this disequilibrium and its dissolution through a price change.From this viewpoint, mining companies are required to forecast metal and bulk commodity prices when evaluating minerals projects through discounted cash flow (DCF) analysis. While supply-demand models are instructive, many companies use historical prices, spot prices, futures/forward pricing and consensus opinion (or a combination of all of these) to develop price forecasts.This paper discusses the definition, fundamentals and differences between futures/forward and consensus pricing and the appropriateness of each in a DCF model for mine project economic evaluation.Our results demonstrate that great care is required when using either futures/forward or consensus pricing and that the decision to use one rather than the other requires consideration of other important elements in the DCF model (ie the risk-adjusted discount rate).CITATION:Martinez Tipe, L A, McKibben, J and Barry, S, 2016. Metal prices and the differences between forward and consensus pricing – which one is better for use in a discounted cash flow model?, in Proceedings Project Evaluation 2016, pp 149–158 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By W. G. Deeks

CANADIANS are world leaders in marketing metal and mineral products. Noranda Sales Corporation Ltd. is an international metal and mineral product marketing company operating from Toronto and London, England, where it operates a wholly owned sales subsidiary and is a 50% partner in Rudolf Wolff and Company Ltd., a charter member and the largest metal broker on the London Metal Exchange. Noranda Sales employs 97 people, of whom 52 are university trained and professionally competent in international resource product marketing. We market for 19 companies or divisions in the Noranda Group and 39 companies for whom we act as agent, consultant and purchaser of resource production. Our business in 1976 was 1.5 billion dollars carried out in 45 countries and covering 24 products and materials. Today, ownership of most of the mining industry in Canada has transferred back to Canadians, and this is said with the knowledge that a significant part of the Canadian industry has been Canadian owned and managed from its very early days. Noranda Mines Limited is such an example. It was born in 1922 as the result of a copper-gold showing at Noranda, Quebec, discovered by Ed Horne, a prospector, financed with a grubstake by a syndicate mainly composed of New York businessmen. Shortly after the discovery, when the shares of the company had risen, the syndicate was sold to Canadian interests and, since that time, Noranda has been dominantly Canadian owned and certainly Canadian managed. Today, over 90% of Noranda's shareholders are Canadian, who hold an equivalent percentage of the stock.

Jan 1, 1977

By W Stange, N Hanson

An important aspect of the project evaluation process is the achievement of a clear and quantitative understanding of the primary drivers influencing project value and risk. A business scenario-based approach is required to ensure that the project meets value and risk hurdles over the short, medium and longer term. Adopting an optimising approach can aid significantly in the development of a project concept into a business that is optimal and sustainable in the longer term. Through the application of case studies, based on work performed with various mining organisations during the last five years, this paper will demonstrate how project value and robustness can be optimised. Experience has demonstrated that applying this approach results in significant value improvements and risk reduction û primarily by application of a rigorous, fact-based analysis and optimisation process that rapidly increases management team understanding and insight of key driver of value and risk.

Jan 1, 2007

By CHARLES DORRANGE

INTRODUCTION. CULM is a general term used in the anthracite regions for many years to denote a mixture of coal, bony coal and impurities which is sent to the refuse-banks. Thus, 35 years ago culm contained the pea and buckwheat sizes of anthracite; but to-day, and as mentioned in this paper, culm is used specifically to denote the material which passes through the smallest screen in the anthracite-breaker. The smallest size of commercial anthracite is known as No. 3 buckwheat, barley, or bird's-eye coal, and is ordinarily made through a round-punched plate having openings 3/16 in. in diameter, and over a round-punched plate with opening 3/32 in. or 1/16 in. in diameter. Thus culm will consist of coal, bony coal, slate, gravel, iron pyrite, etc., ranging in size from ? 3/32 in. down to dust. Other local terms for culm are " slush," " silt," and " dirt." The first experiments towards the utilization of anthracite culm by briquetting, and the first briquetting-work done in this country, were in 1872 at Port Richmond Piers, Philadelphia, Pa., by E. F., Loiseau.1 Clay was used as a binder and the finished briquette was water-proofed with shellac, etc. Excessive cost was given as the reason for discontinuing work at this plant. The Delaware k Hudson Co., in 1876, built a plant at Rondout, N. Y., which operated until 1880. Gas-tar was used as a binder, and anthracite screenings were briquetted for engine fuel. Excessive cost, poor results in firing, and the tendency of the fuel to cut the boiler-flues were given as the reasons for discontinuing the manufacture. The next plant was built by E. F. Loiseau about 1878, at Nesquehoning, Pa., near the No. 1 or Nesquehoning colliery

Sep 1, 1911

During the 1998/99 Asian crisis Solid Energy's export revenues collapsed from over US$70M to under US$40M. Simultaneously, domestic market uncertainty led to decreases in volumes and prices. A major new underground mine was not technically viable, and was closed, and several other mines were marginal. Less than two years later, Solid Energy and its JV partner closed a second new underground mine. The company was in financial crisis, and reported an $86M loss for 1998/99. After refinancing with stringent workout conditions it still had minimal returns due to low prices, unaffordable transportation costs and huge unrealised FX losses as the NZ dollar fell 40 per cent in value. The obvious scenario was to æcash upÆ û complete extraction at remaining mines, sell off any viable parts of the business, pay off debt and wind the company down.In 2002 Solid Energy has completed its recovery. Although margins remain slim and volatile in both export and domestic markets, it is achieving record volumes and revenues. It has paid off its shareholder loan, has minimal remaining FX losses, and cashflow is allowing further mine and infrastructure development. The key to the turnaround has been implementation of rigorous planning, analysis and decision-making in all aspects of the business. The company has a comprehensive, rolling 20-year plan used annually to update rolling five year and annual business plans. Solid Energy augments strong line management operations with rigorous standards and processes for mine planning and development, operational decision-making, and functional support. Detailed, quantitative risk analysis is used in all aspects of the business and allows comprehensive integration of opportunity and risk management across all activities in the company.Coal mining is widely perceived as an æold-economyÆ industry. But, like other successful æold economyÆ companies, the information systems and management processes used by Solid Energy are as leading edge as any in the high-tech sector. They are the key to managing to add and sustain maximum value for a company that has access to coal resources sufficient for hundreds of years.

Jan 1, 2002

By G. W. Elger

This report describes pilot-plant studies and an economic evaluation of a process developed by the Federal Bureau of Mines, Albany Metallurgy Research Center, to produce synthetic rutile from a rock-type ilmenite concentrate. In this process, ilmenite blended with coke and lime is smelted in an electric arc furnace to separate most of the iron as salable pig iron and to form a titania-enriched slag of low iron content, which is treated with oxygen and titanium pyrophosphate. The titanium oxides are converted to crystalline rutile; the phosphate glass contains most of the associated impurities. The treated slag is ground and leached with sulfuric acid to liberate rutile crystals, which are concentrated by physical methods. In pilot testing conducted to obtain data for a cost estimation, a synthesized product containing about 88 wt-pct TiO2 and less than 2 pct FeO was extracted from a rock-type ilmenite concentrate containing about 45 wt-pct TiO2. The estimated fixed capital cost (on a mid-1975 basis) of a plant producing 500 tpd of synthetic rutile is $28,290,100. Based on 330 operating days per year, the estimated operating cost for this process is $351 per ton of synthetic rutile. The estimated selling price of synthetic rutile made from rock-type ilmenite is $344 per ton, based on a credit of $160 per ton of pig iron and a 20 pct interest rate of return on investment after taxes.

Jan 1, 1976

By Paul B. Queneau

Formulation and commercial utilization of solid-waste incinerator slag by-product is the focus of this paper. Particular attention is given to iron aluminosilicate melts having compositions similar to that of nature's basalt The earth?s crust can be viewed as an environmental laboratory for predicting stability of various silicates; small-scale laboratory experiments are necessary to confirm findings there from. An ideal slag consumes flux additives at acceptable cost, is compatible with furnace refractory, flows readily from the furnace, and has physical properties suitable for its commercial utilization -all within the critical constraint that the slag is environmentally stable. Examples of successful solid waste slagging practice, including tonnage, utilization and pricing, are provided from metallurgical and waste treatment operations of North America. Western Europe and Japan.

Jan 1, 1991

By Walter L. Fisher

The public interest in the Alaskan situation is such that, with the consent of the President, I have concluded, at the request of the American Mining Congress, to make at this time a candid, if somewhat informal, expression of the views I have formed as Secretary of the Interior, under whose official supervision much of the administration of the Territory is now placed. Pressure of other matters imperatively requiring attention has prevented their presentation in as precise and comprehensive a form as I had hoped. The absence of the President from Washington has also prevented the submission to him of what I have prepared. I wish to say, however, that no one is more earnest than he in the desire to see a policy of prompt and wise development inaugurated in Alaska, and that the general policy contained in this address has been discussed with him, meets his approval, and will have his support. I have recently returned from an altogether too brief but nevertheless a most interesting and profitable visit to those portions of Alaska that are more immediately involved in the questions now under public consideration. Favored by extraordinary weather and the cooperation of steamship and railroad lines and the assistance of all of the governmental agencies, including the Revenue-Cutter Service, I visited every port in Alaska that seems likely in the near future to become an important entrance to the country. I examined all of the harbor and town sites which for this purpose have attracted any considerable public attention. I traversed the entire length of each of the three railroads that have been constructed in the Terri.tory and made a short trip from White Horse down the upper Yukon. Both before and during the journey I examined a mass of books, records,' and papers relating to the country and its resources. I had conferences with official committees representing the principal communities I visited and with numerous individuals, residents both of the coast and of the interi.or, and conferred with engineers, miners, prospectors, railroad officials, business and professional men.

Jan 1, 1911

By R. J. Sweigard

The effects of postmining land use planning are addressed in this paper. These effects may include savings in reclamation costs and increased value of reclaimed land. However, this may result in greater planning costs and possible delays in production. Therefore, an economic analysis was undertaken in an effort to determine the importance of each potential result and to quantify the overall economic impact of postmining land use planning. A discounted cash flow analysis was performed using a surface mine cost model to analyze the sensitivity of selling price to changes in various postmining land use planning parameters. As a result of this analysis it was determined that the profitability of a project is most sensitive to delays in production, particularly, if the delay occurs after major investments have been made. Many methods have been proposed for evaluating postmining land use alternatives (Sweigard and Ramani, 1981). Both quantitative methods, such as benefit-cost analysis (Brock and Brooks, 1968), and nonquantitative methods have been proposed. The application of one specific analytical method is pursued in this paper.

Jan 1, 1985

By A. E. Moss

"IntroductionTHE WORLD-WIDE search for iron ore has been vastly accelerated during the past fifteen years .and Canada is playing a most prominent role in this prospecting boom. During this period, the search for .and development of iron ore deposits in Canada bas proven eminently successful and there is every indication that exploration will continue to be active for many years.This paper has been prepared primarily for the information of those who have bad little or no experience in iron ore exploration. For convenience, it is divided into three parts: ( 1) a brief discussion of the marketing of iron ores, with special reference to Canadian production; (2) a summary of the main features to be considered when prospecting for or evaluating a potential iron ore deposit; and (3) an outline of the methods and procedures used in the search for the direct-shipping iron ores in the Quebec•-Labrador iron ore field.The Iron Ore MarketDue to the tremendous tonnages of high-grade direct-shipping iron ore indicated in the iron ore fields of the Quebec-Labrador and Steep •Rock areas, it might be assumed that there would have been a sharp decline in iron ore prospecting in this country. On the contrary, the development of these two major fields, which must be classed among the world's greatest, has been responsible for much of the current activity. The search for high and medium grade magnetite deposits is being• conducted in many parts of the country and a number of these have reached the development stage. Production is being expanded from the known fields, such as Wabana in Newfoundland and Michipicoten in Ontario."

Jan 1, 1955

By HILAND BATCHELLER

COMMENT on the economic significance of the special alloy steels seems inevitably to reduce itself to an attempt to peer into the future of the industry in which we are interested. We are all familiar with the historical development of iron and with the almost complete replacement of iron by steel. Those who have been connected with the industry since its .early days have had the satisfaction of witnessing the greatest industrial development the world has seen. As the cartoonists of the muck-raking decade liked to picture steel as an ogre armed with a spiked club, his hands reeking with blood and with golden coins dripping from his pocket, fiercely seeking for more widows and orphans to devour, I choose to call on my imagination to create a gigantic but beneficent robot of such marvellous mechanical skill. that it quickly transforms millions of tons of otherwise worthless material into the infinite variety of useful products which are so largely responsible for our present civilization.

Jan 1, 1931