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By John R. Bogert

The title of this session is "Wall Street Looks at the Mining Industry," and I am going to attempt to answer the question: Shouldn't Mining Stocks Sell at Higher Price Levels? Or, What Does Wall Street See When Looking at the Mining Industry? Well, it sees a capital intensive business, a technical industry, and a growing industry becoming more vertically integrated. But, at the same time, Wall Street sees a cyclical industry, a fragmented industry of erratic earnings, spotty public relations, a feast-or-famine business where the public usually does not differentiate between coal mining or metal mining, and does not appreciate either the risks or the rewards. As a result, mining stocks generally sell at relatively low price learnings ratios in comparison to other industrial groups. This PIE ratio, the current market price of the capital stock divided by annual earnings per share, is probably the most popular index of a stock's value. The average of the price/ earnings ratios of the 30 stocks comprising the Dow Jones Industrial Average is over 14. This diverse group of stocks is widely regarded as being a cross-section and representative of the industrial companies listed on the New York Stock Exchange. However, in comparison to 14, Asarco and Kennecott shares are currently available for about 8 times annual earnings. Even discounting earnings from South America, the stock of these two companies sells at only 10 times earnings. Of course, Peruvian politics is currently preventing Cerro shares from selling above 6 times earnings, and Chilean politics keeps Anaconda shares at a PIE multiple of 7. However, even in better times, these companies rarely sell above 10 times earnings. American Metal Climax and Newmont sell at only 11 times earnings as does Phelps Dodge and St. Joseph Lead. Few mining companies then have what can be considered a high PIE ratio-a figure higher than

Jan 1, 1970

By F. Maciosek, D. Denton, J. Johnson

Researchers from the Spokane Research Laboratory of the National Institute for Occupational Safety and Health and personnel from Coeur Silver Valley, Wallace, ID, conducted tests using rock strain strips and Split-Set rock bolts instrumented with strain gauges to monitor wall rock strain at the Galena Mine, Osburn, ID. The objective of the test was to identify whether strain on the rock bolts increased prior to a rock burst. Although results were inconclusive, researchers learned that the Split-Set rock bolts yielded in stick-slip fashion in the highly jointed walls of the stope. The bolts were also bent as stress was redistributed following blasting and subsequent movement along joints in the wall rocks.

Jan 1, 2004

By E. V. Lilford

A number of countries have introduced codes governing the valuation of mineral assets and securities. The African continent will follow suit in due course considering the importance of the global minerals industry as it relates to the attraction of foreign investment. South Africa is to introduce the Petroleum and Minerals Development Bill legislating the involvement of previously disadvantaged individuals and communities in the country?s minerals industry. One of the challenges facing the successful implementation of such codes and bills lies with the abilities of independent valuators to value mineral properties and projects on a consistent basis. Certain valuation principles and methodologies are applicable in all jurisdictions in the minerals industry. These valuation tools and principles are considered and developed in this report. They have been discussed and developed to encourage minerals valuators to consider and consistently apply the most applicable valuation methodologies.

Jan 1, 2002

By C. Droun

"Low back pains account for about 13 per cent of all compensation claims made to the Quebec Workmen's Compensation Commission and cost the employers a sum exceeding ten million dollars. The frequency and cost of these health problems in Quebec metal mines are proportional to the provincial trends. An elaborate review of the literature on the causes, nature and prevention of low back pain is made in this presentation. A prevention program for low back pain has been designed in cooperation with a team of seven medical specialists and two physiotherapists for the Quebec metal mines. The program is especially designed for persons who have had low back pain, in order to prevent a recurrence, and for persons beginning to feel chronic difficulties. It is based on existing programs at the Hawthorne Plant of Western Electric Company and at Minnesota Mining and Manufacturing, but it requires a much different approach because of the nature of medical care available at the mining sites. The program is difficult because it involves a change of attitude for every employee and every supervisor. The program, so far, is beneficial because several men are now seriously engaged in an active program of reconditioning and because the problem of low back pain ie beginning to be seen from a new angle."

Jan 1, 1973

By D. Harrington

"FOREWORDVirtually all government agencies undertook many additional responsibilities during the period immediately preceding World War II; these responsibilities increased vastly in importance and scope after the actual declaration of war following the attack on Pearl Harbor. The Bureau of Mines was one of the agencies thus affected, and it was called upon to perform many duties foreign to its normal peacetime activities.The Health and Safety Division of the Bureau of Mines, at that time designated the Health and Safety Branch, was given several important and difficult duties and responsibilities of an unusual nature because of the war while of necessity-continuing its normal functions of assisting the mineral industries in the preservation of life and health and the protection of property, this being of especial importance in wartime because of the pre-eminent importance of having maximum output of essentially all types of mineral products. Some of these additional functions were given to the Health and Safety Division because the organization of the Division, with its field set-up dividing the Nation into districts with competent, experienced personnel in charge of its work, provided the nucleus of personnel and procedure through which rapid and smooth expanded functioning was feasible.In addition to the responsibilities directly attributable to definite war activities, such as the administration of the wartime Federal. Explosives Act and the Mineral Production Security Branch a new branch (then designated division) was formed to investigate coal-mine health and safety problems after the enactment of the Federal Coal-Mine Inspections and Investigations Act, which became a law on May 7, 1941, but which actually began to function actively after the declaration of war in December 1941.The purpose of this publication is to provide a brief historical record of the activities of the Health and Safety Division as a whole and of its individual branches during the war. The detailed record has been filed in the Archives Building, Washington, D. C."

Jan 1, 1949

By Mike Watts

Since the first longwall panel development started in the new mining, (Southern) area, a number of roof falls have occurred in L1 and L2 gate-entries. The longwall was delayed for a total of two months due to roof falls in the gate-entries. To prevent roof falls in future gate-entries, an extensive ground control analysis has been conducted which incorporated regional horizontal stress and panel orientation, tectonic stress, roof strata, surface stream valleys, etc. Results of the analysis indicate that a combination of these factors caused the roof falls. Therefore, a Roof Instability Rating (RIR) system was constructed to predict the roof condition and identify areas where supplemental support should be implemented. The L3 gate-entries, supported by the prediction using the RIR system, have not experienced any roof problems.

Jan 1, 2000

By AIME AIME

THE first fall meeting of the new Coal Division started on time on Thursday morning, Sept. 11, at Pittsburgh, with Paul Sterling of the Anthracite Section presiding and over a hundred members and guests in the room. The attendance increased from session to session, the total registration being 248. Excellent arrangements had been made by the officers of the Division covering all features of the meeting, the only drawback being that more papers-were listed for presentation than could be discussed in the time available. Howard-N. Evensong, chairman of the Division, explained this situation as sore and sore papers case in by likening it to the case of the small boy who wanted a second niece of pie at the end of a large seal. When his mother remonstrated that if he ate any more he would certainly burst, the young man replied, "Well, you just hand over the pie and then get out of the way." With that Mr. Evensong turned the meeting over to Mr. Sterling, who handled it so well that with ample discussion it was still possible to adjourn at lunch time, all but the group of junior papers having been heard. This series of papers, the output of the .very lively Junior Section organized last spring by the younger men of the Division was regretfully put over until Friday morning, when that on "Heat Drying" by S.. M. Parsley was read.

Jan 1, 1930

By Fernando Antônio Corrêa

O processo de soldagem híbrido LASER- GMAW, comumente designado por HLAW (Hybrid Laser Arc Welding), foi concebido há bastante tempo, mas só recentemente começou a ser aplicado industrialmente. Nesse trabalho foi feita uma avaliação do seu desempenho na soldagem de chapas de aço C-Mn com 10mm de espessura. As juntas produzidas foram avaliadas por meio de ensaios de impacto Charpy-V e mapeamento de microdureza Vickers, além da caracterização microestrutural. Também foram realizadas, medições dos níveis das tensões residuais introduzidas na junta soldada pelo processo híbrido, comparativamente com o processo GMAW robotizado. Os resultados da avaliação de desempenho do processo híbrido mostraram uma maior produtividade em relação ao GMAW robotizado. As propriedades mecânicas da junta soldada se mostraram compatíveis com os requisitos do material de base.

Oct 30, 2017

By C. M. Campbell

IN 1902, a famous Canadian geologist made the following statement : ?'From what we know row of the iron-ore fields of the Province, we may feel that Ontario is assured of a great future as an iron-ore producing country. Judging from the extent of the territory over which the newly discovered ranges have been found, Ontario should in the not far distant future take her place as one of the chief iron producers in the world". In 1905, an official of the Department of Mines said: "In ten years Canada will have b:ecome a great metallurgical country. You will see an iron industry in this Dominion larger than in any country in the world. Canada will yet furnish the world with its iron supply. It will be the same with iron as with wheat. A decade from now Canada will outstrip all other countries in wheat growing. The production of iron at a cheaper rate than it can be made elsewhere will cause Canada to take a similar position as far as iron is concerned". In 1924, a former President of the Institute, in arguing his claim for inconceivable mineral wealth in this country, stated as a "certainty" that iron-ore deposits on the scale of the ones in Minnesota would be found "again and again" in the Canadian Precambrian. In 1930, a Minister of Mines announced that "The country surrounding Churchill holds large deposits of valuable iron and coal", and he stated that, at that place, 'We will have an industry in iron that will compare with Pittsburgh". These statements are definite promises, just as definite and important as the statement "I promise to pay" on a note, and they are not fulfilled by casually stating, as is the habit, that someday we will work our low-grade iron ores. Nor are they fulfilled by stating, as is often done, "Oh, So-and-So did not mean that ' . Due to their importance and to the prominent positions held by the men who made these statements, they were widely circulated throughout Canada. They were taken at their face value, and on the strength of them and many more of the same kind in regard to our other resources we have planned and built, at huge expense, provinces, governments, civil services, railways, and other equipment. The reserves that were to justify these expenditures have not appeared. There has not been a ton of iron ore mined in Canada for many years, and important commercial reserves are unknown. We have built the mill, but adequate ore is lacking.

Jan 1, 1937

By HOWARD RICHARDS

THE dollar was, selected as the unit of currency by the Congress of the United States of America on Apr. 2, 1792. This "Dollar" currency is so much more convenient than the older British currency that the Canadian Government, among others, has adopted it with corresponding success. Just as the dollar is the unit of United States currency, so the meter is the international unit for measuring length. The various weights and measures used in - the United States have since Apr. 5,. 1893, been based on the metric standards. These fundamental standards are kept by the International Bureau of Weights and Measures, which is supported by the United States, Great Britain and the, other leading countries. of the world. Copies are held-in Washington and other capitals. (2) As the dollar is divided into 100 cents, so the meter, which is 10 per cent. longer than the yard, is divided into 100 centimeters or cm. And as the cent is divided into 10 mills, so the centimeter is divided into 10 millimeters or mm. In measuring clothing and other articles which do not require great accuracy, the centimeter is most con¬venient, so that such work is done in terms of centi¬meters.. Instead of speaking of a 15;2-in. collar, a 40-centimeter or 40-cm. collar is referred to. Where accuracy is needed, as in mechanical drawing, machineshop work, etc., millimeters are employed. Thus 8 mm., is the convenient equivalent for 5/16 inch.

Jan 1, 1921

This appendix contains the list of equipment selected for the capitol cost estimate, with the respective quotations from their vendors/manufacturers. A vendor response report along with a separate equipment and motor list has been included in the first part of this appendix.

Jan 1, 1979

Sandsloot open pit is situated on the northern limb of the Bushveld Complex, 250 km north east of Johannesburg, South Africa. Sandsloot is currently the largest open pit platinum mine in the world and is one of six potential open pits in the area. The geotechnical strength properties of the Platreef have posed significant mining and processing challenges to the PPRust operation since inception in 1992. In order to optimize the whole business as opposed to isolated cost centres a mine to mill initiative was embarked upon in 1997. Initial work focused on ore characterization and an entire suite of data was collected for each rock type. This included mineralogy, geochemistry, geotechnical, blast ability indices, as well as metallurgical strength data. The second phase involved the clear definition of customer requirements, namely the optimum performance criteria for the plant and mining departments. This involved extensive field trials and data capture to measure the interaction and influence of the mine to mill value chain. Once the design targets were defined, a 3D geotechnical model was constructed to ensure that the targets were consistently achieved. The model is very similar to an ore reserve model; however, it is populated with geotechnical, metallurgical and blast index data. Through software queries the appropriate blast powder factor for each mining block can be obtained, thereby ensuring the correct fragmentation is blasted for the plant and mining operation. The initiative has delivered significant results showing improvements across the mine to mill value chain. These include increased loading rates, reduced electricity and crushing consumables, as well as higher plant throughput. Additionally, the initiative has benefited both brownfield and greenfield projects on the PPRust operation

Jan 1, 2006

By Harold W. Lipper

BUREAU OF MINES helium plants produced a. record-breaking 477 million cubic feet of this essential element in 1959. The supply of helium was less than the demand before operations were resumed at the Navajo plant in July and begun Sit a. new plant at Keyes, Okla., in August. Helium was in abundant supply after August, and the informal allocation system which had been in use intermittently since 1955 was discontinued Delivery of 26 new tank cars in August and September increased the total in the tank-car pool to 163. Defense and space agencies and the Atomic Energy Commission continued to use more helium in their operations and research.

Jan 1, 1960

By J Fraser, M Scoble

Within the past decade, incidents of mining–community conflicts have grown dramatically and represent one aspect of a phenomenon known as social risk. Research published in 2014 indicates that a lack of social acceptance is now a leading and costly cause of delays for mining projects.The rise of social risk, complemented by the need to earn the trust of an increasing number of stakeholders so that mining projects can be developed effectively, is problematic for the industry. Conflicts are occurring in situations where companies are fully compliant with regulatory and legal requirements, despite initiatives by mining companies to earn social acceptance and despite the proliferation of tools to support corporate social responsibility. Intensifying the impact of social risk is the fact that it has increased during a time in the global mining sector when companies have had to grapple with declining commodity prices, increasing capital costs and debt levels and the challenges of mining lower-grade deposits.This paper will explore a hypothesis that in today’s interconnected society, social risk in the mining sector constitutes a legitimate business risk that must be managed strategically. The reality facing mining companies is that information, once considered confidential, now travels quickly on social networks and via a growing number of groups and individuals that have earned a legitimate right to be classified as stakeholders in projects that affect their communities. To be successful, it is suggested that companies will benefit from increasing internal collaboration and providing training to equip teams to mitigate social risk to mining projects and protect reputation capital. The paper is based upon PhD research being undertaken to assess the points of intersection between social risk and social responsibility during the construction stage of greenfield mining projects.CITATION:Fraser, J and Scoble, M, 2015. Mining–community conflicts – can the future mining sector transform social responsibility?, in Proceedings Third International Future Mining Conference, pp 159–168 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

By L. Jeffrey

The Waterberg Coalfield has vast potential to become a significantmining and industrial centre in South Africa. Its future developmenthinges on a number of critical decisions that must be made jointly by government, power utilities and industry, and on some technical and economic challenges that must initially be overcome. Sufficient water is the primary key to enabling exploitation, together with an adequate market for the large volumes of low-grade coal. As the most likely consumer of this coal will be either a power station or a petrochemical complex, the need for additional energy will be a driving force in the development of this coalfield. Conventional mining methods can exploit the shallow coal resources in both the Grootegeluk and the Vryheid formations, but alternative technologies such as coalbed methane extraction and underground coal gasification are the only currently known technologies that may be able to exploit the deep Grootegeluk Formation resources. However, extensive research is still required into these procedures, particularly with respect to the Waterberg coals. Transport infrastructure to the region is currently not sufficiently well developed to support large-scale exploitation of the region?s coal resources. In particular, the railway line would have to be extensively upgraded to allow the increased export of coal. Alternative transport methods such as pipelines would also have to be pursued to serve a large Sasol-type petrochemical complex or coal gas extraction. The road network would also require improvement, as only the roads between the main commercial centres are currently tarred. Dr Con Fauconnier, Kumba CEO, concluded his presentation to the Investing in African Mining Conference 2004 with the words: Again, it?s all about infrastructure? when it?s there, it enables the development of bulk mining projects which attract the resultant economic benefits for the region and country as a whole. These words aptly sum up one of the stumbling blocks to the future development of the Waterberg Coalfield.

Jan 1, 2005

To improve communication among Government, industry, and academic researchers in the field of thermodynamics, the Federal Bureau of Mines sponsored a Workshop on Techniques for Measurement of Thermodynamic Properties in August 1979. Participants at the workshop presented 33 papers on the subjects of temperature measurement and control, general calorimetric techniques, low-temperature calorimetry, high-temperature calorimetry, galvanic cells, ionic solutions, and heterogeneous phase equilibria. A special invited lecture was presented by E. F. Westrum, Jr., on the resolution of lattice heat capacity. This Information Circular comprises the proceedings of the workshop and includes the texts of papers presented and discussion by attendees.

Jan 1, 1981

By Fernanda de Lima Menezes

O biodiesel, obtido a partir de um éster e um álcool na presença de um catalisador, é produzido pela reação de transesterificação e tem como coproduto a glicerina. A produção de biodiesel da Petrobras Biocombustível tem, em uma de suas etapas, a lavagem dos produtos para remoção do catalisador básico, metilato de sódio, por meio da reação de neutralização com ácido clorídrico. Devido a essa prática, a glicerina obtida é acidificada e contêm resíduos de cloretos, o que leva à corrosão localizada dos aços utilizados em determinados pontos do processo de produção. Dessa forma, o presente trabalho avaliou a resistência à corrosão do aço austenítico 317L e do aço lean duplex 2304, em meio de glicerina acidificada contendo cloretos. Todas as medidas foram conduzidas a 64ºC, visando simular as condições de operação da empresa. Para o estudo em questão, utilizou-se as técnicas de potencial de circuito aberto (OCP), polarização potenciodinâmica e microscopia eletrônica de varredura (MEV). As análises mostraram que o aço AISI 317L obteve menor potencial de pite que o SAF 2304, logo foi menos resistente. Por meio do MEV foi possível confirmar a presença dos pites, sendo que as cavidades presentes no aço AISI 317L foram mais numerosas e profundas que as observadas no aço SAF 2304.

Jan 16, 2018

By William Gleason

The Society for Mining Metallurgy and Exploration (SME) has a long and proud history of being the world?s leading resource for the dissemination for technical information regarding the fields of mining and mineral extraction and processing. That reputation was met, and maybe even exceeded, with the programming for the Society?s 2014 Annual Meeting in Salt Lake City, UT Feb. 23-26. The meeting drew more than 6,700 attendees to the three-day conference that featured more than 90 technical sessions with 670 presentations. These sessions covered the breadth of the mining and minerals industry, but it was the so-called ?softer issues? that were discussed in the keynote session that kicked off the meeting. The keynote session, ?Community Engagement: Building Partnerships for Mining,? brought together some of the leading voices from the mining industry, as well as some of the top voices from nongovernmental organizations (NGOs) that work in the mining sector. The common ground between the panelists was their dedication to working to ensure a social, economic and environmental balance in the development of mines. ?We wanted to bring these NGOs in to begin a dialogue to see how we can work together,? said SME President Jessica Kogel. ?This is a space that SME has not typically operated in, but one in which SME can bring a technical, scientific voice to the discussion. SME wants to play a leadership role in creating partnerships between the technical, social and economic areas that are crucial to the success of any mining project.? In today?s environment, finding mineral deposits and extracting the minerals in an economically viable manner is just one piece of an increasingly complex puzzle. Earning and maintaining a social license to operate requires careful consideration of local and global impacts. The industry often comes under intense scrutiny when a new project is proposed and, therefore, it must strive to meet the highest ethical and environmental standards. Success requires cooperation and collaboration between the industry, community and NGOs.

By J. H. Archibald

"IntroductionShot-saws are used for sawing rock throughout the dimension stone industry especially in granite quarry mills. Shot-saws, as currently designed, have an inherent wear problem which leads to slow cutting rates and repetitive blade changes which consumes much time. Because the saw blades are made from steel the abrasive shot used with them is limited to a certain hardness which effects the over-all efficiency of the sawing operation. Suggestions are made toward optimization of blade design and the sawing process. Blade DesignA common steel blade design is shown in Figure I. Note the perforations in the blade. These perforations or holes in the blade serve two or three purposes. The most obvious reason is to allow the abrasive shot a pocket in which to collect at the bottom of the blade, so that it can be distributed from these pockets into the cutting zone underneath the blade. The abrasive is fed to the saw in a slurry and usually comes in from the top. The blade must then cut a kerf wider than itself in order that the abrasive grains have a path leading from the top of the blade, down along its sides, and finally reaching the pockets and cutting zones. This circuitous path followed by the abrasive leads to side wear on the blades and high friction which can lead to blade buckling in severe cases. However, the fluidized path of the abrasives down the sides of the blade serves another purpose which is a positive gain if conditions are properly controlled. The abrasive slurry interacts with the perforations of the blade, the blade itself and the rock. This gap and the perforations in the blade, which are fluid filled, are sites of constant shearing motion. Eddy currents form in these gaps and pockets which tend to stabilize the blade by setting up balanced hydrodynamic forces which otherwise might not form in a non-perforated blade. A stable blade produces a more uniform cut in the rock. The third and final reason for the perforations are to allow the blade to wear in such a fashion that new pockets are always being formed and, consequently, new cutting surfaces between these pockets are also formed."

Jan 1, 1993

Several Approaches to Enhance the Bioleaching of Enargite Some approaches were investigated to enhance the recovery of Cu from enargite by bioleaching with Acidithiobacillus ferrooxidans using the galvanic interaction with pyrite and activated carbon, and with thermophilic bacteria, Acidianus brierleyi. Addition of pyrite initially enhanced Cu leaching by the Galvanic effect, but after that the formation of secondary minerals passivated the surface of enargite in inoculated batches. Activated carbon improved Cu recovery from enargite much better than pyrite, when it is contacted with enargite. Recovery of Cu from enargite has been recorded to at largest 2.4 per cent within 30 days in the presence of activated carbon when mesophilic bacteria were inoculated at 25¦C. The recovery of Cu from enargite was drastically enhanced by inoculation of thermophilic bacteria, Acidianus brierleyi, up to 60 per cent within 40 days at 70¦C and still not leveled off after 40 days unless the formation of Fe(III) precipitates occurred. After 40 days dissolved molar ratio of Cu/As is around 5.2, suggesting that metal-deficient sulfides and/or ferric arsenate might be formed on the surface of enargite.

Sep 13, 2010