Evaluating mine plans under uncertainty: Can the real options make a difference?

Over the last few years, many studies have presented the real options valuation (ROV) as a promising technique of valuing natural resource investments under conditions of uncertainty. Apart from the common conclusion that the ROV is better than the conventional net present value (NPV) method in integrating the value of management flexibility and proper handling of cash flows risk, there is a lack of procedures for testing the usefulness and advantages of the ROV over the static NPV method in practice. Arguably, it is not yet clear whether the ROV can deal with the complexity of mining projects and whether it can really be applied to make decisions that improve project value.     

Biological degradation of some organic compounds involved in the paper industry

An evaluation of the biodegradation by aerobic microorganisms was investigated for some organic compounds occurring in paper manufacturing technology. Lines of biodegradation for nine organic compounds, as a percentage removal of chemical oxygen demand (COD), were detected over seven days incubation. The results of the biodegradability test clearly revealed that some of the organic compounds under investigation were highly biodegradable while others ranked from fairly biodegradable to non-biodegradable. Significant biodegradation results were recorded as COD removal, for anti-coating ester (95.0 percent), Basoplast 200D (85.3 percent) and Basoplast PR 8050 (87.6 percent). The bleaching agent (formamidin-sulfinic acid), Ukanol BSA and Solidurit KM demonstrated moderate biodegradation with results of 62.1 percent, 76.2 percent and 69.8 percent, respectively. Poor biodegradation results for Hedifix M/35 (12.7 percent), Basazol Orange (34.9 percent) and Basazol Brown (29.0 percent) were recorded. Accordingly, appropriate precautions should be taken into consideration when applying these compounds to paper manufacturing processes.     

Decision making with option pricing and dynamic programming: development and application

In this study, an option pricing model and a dynamic programming model are developed. These models contribute to the improvement of the decision making process in two respects. First, these models allow for the own growth rate of mining costs to be incorporated into the analysis. Second, these models are developed to estimate the satisfactory gross revenue for investing, so that these models are helpful in analyzing multi-metal mines.The two models are applied to estimate the satisfactory revenue for investing in the Carlin east gold mine, Nevada, USA. The satisfactory revenue estimated by the option pricing model is found to be $42.2M, while that estimated by the dynamic programming model is found to be $44.4M. Since the revenue calculated on the basis of the current conditions is $36M, then the decision by option pricing and dynamic programming is to wait and not to invest now. Despite the difference between the two models in estimating and applying the discount rate, the two models generate the same decision.     

Neutron activation analysis of ceramic tiles and its component and radon exhalation rate

IntroductionCeramic,consistofearthymaterialslikeclaykaolin ,limestoneandsandglass .Ceramicmaterialsarenonmetalic ,inorganiccompoundsprimaryoxides ,alsocarbides ,nitridesandsilicides .Twotypesofbondingmechanismsoccurinceramicmaterial ,ionicandcovalent.Theo…     

Trihalomethanes formation in water treatment plants and distribution lines: a monitoring and modeling scheme

Monitoring and modeling of the concentrations of trihalomethanes (THMs) within four water treatment plants (WTPs) and distribution lines in Fayoum City, Egypt, were studied. Sampling sites for raw and treated waters were determined by global positioning system and the Arc geographic information system software was used for mapping. THMs were monitored using 25 sampling points located at the plant exit and through the distribution lines up to the plant extremity. Results indicated that the THMs concentration varied significantly but it was very rarely higher than the allowed maximum contaminant level of 100 μg L^?1. However, at the dead zones in the distribution lines, the THMs increased by about 160% compared to in-plant level. Furthermore, the level of THMs in hot months was about 1.3 times higher than in cold ones. The influence of some independent variables such as temperature, pH, ammonia concentration, total organic carbon and color were investigated by Pearson model to find their correlation with the rate of THMs formation in WTPs. The resulted R values ranged from 0.81 to 0.98. Successful application of the model to a selected region on the distribution lines has resulted in a correlation coefficient of 0.98.     

Physico‐mechanical and Flammability Properties of Cyrtostachys renda Fibers Reinforced Phenolic Resin Bio-composites

Journal of Polymers and the Environment - The aim of this study is to investigate the effect of fiber length and loading on physico-mechanical and flammability properties of Cyrtostachys renda (CR)...     

Mine size optimization using marginal analysis

In this study, a model to estimate the optimum mine size is developed. The model is developed on the basis of marginal analysis. The model solves for the production rate at which the present value of marginal costs equals the present value of marginal revenues—the rate that microeconomic theory shows will maximize the net present value of production from the mine.In addition, the article discusses the effects on the optimum production rate of: the physical characteristics of the deposit, economic factors, and financial factors. It has been found that, not surprisingly, as the reserve tonnage increases, the optimum mine size increases. Also, the optimum production rate increases as the ore grade increases. A direct relationship has been found between the mineral price and the optimum production rate. The optimum mine size is found to be inversely related to the expected growth rate of mineral price, while it is directly related to the expected growth rate of mining costs. A concave relationship has been found between the cost of capital and the optimum mine size.     

Application of cleaner production technology in chemical industry: a near zero emission

The main objective of this study is to investigate and evaluate opportunities for implementation of pollution prevention and waste minimization in a chemical industrial company producing poly sulfonated naphthalene formaldehyde which is used as a super plasticizer for concrete. Environmental problems encountered were mainly the highly polluted wastewater and a semi-solid cake containing considerable amount of the final product. Possible modules for remedial measures and their cost estimation were investigated. The proposed remedial modules included recycling of retained water discharge in filter press, recycling of washing water of reaction vessels (reactors), closed circuit cooling system for high-pressure pump, good housekeeping through control of leakage of raw material, products and water and finally utilization of retained residual product from the solid waste. The implemented pollution control measures proved to be cost effective and have short payback periods. Also, minimization of the hydraulic and organic loads in the final effluent was achieved.     

An application of a simple computer program for neutron activation analysis

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