We have David Baines of the Vancouver Sun to thank for a new story on mining investment gone bad. We use this case history to formulate another Investment Rule: Do not buy shares in a mining company controlled by one man.
Archive for October, 2009
Mining Investment Rule 121: Beware the sole owner and 4,000 unwise investors
Posted in Law (Mining), People, tagged gallowai, invest, mining, ross stanfield on October 29, 2009 | 3 Comments »
The Philosophy of Mining Design
Posted in Heap leach, Hydrology and hydraulics, tagged design, Heap leach, mining on October 28, 2009 | 1 Comment »
Design is the art of applying the principles of science in formulating practical solutions to real-life problems. Design is the act of coming up with a cost-effective way to build and operate a physical structure, whether it be a bridge, a building, a tailings impoundment, a heap leach pad, or an access road to [...]
The Secret Cycle of Gold Mining Investment
Posted in Uncategorized on October 23, 2009 | Leave a Comment »
If you invest in mining stocks by the numbers and trends, you must read the article in the October 12, 2009 New Yorker. The article is called The Secret Cycle. I provide a copy of the summary of the article at the end of this posting. The complete article is at this link. [...]
Nevada walk-away mine closure casinos
Posted in Law (Mining) on October 22, 2009 | 2 Comments »
Idle travel has me in Elko, Nevada after two days in Reno. Reno is ringed with hills that you spy vaguely through the look-alike office buildings sprouting in impossible green lawns and standard nursery flower beds. In Elko the mountains dominate the landscape and thankfully there are no artificial lawn and flower beds. This [...]
OII, a landfill and geogrids in Los Angeles–no refuse mining please
Posted in Geotechnical on October 18, 2009 | Leave a Comment »
I am currently involved in a project in the oil sands that involves geogrids. Recalling days long ago, I wrote the following today to recount my experience.
Freeport-McMoRan hit with law suite to clean up 1974 pollution
Posted in Uncategorized on October 16, 2009 | Leave a Comment »
A true story. A young mining engineer asked his consultant: “Why are you so worried about putting your professional engineering stamp to this design? ” The crusty old consultant snarled back: “Because if the structure fails, the shareholders could sue the mine, you, and me.” I interjected that there are class action law suites pending [...]
Ten days late: no oil sands tailings update
Posted in Oil sands on October 15, 2009 | 4 Comments »
Last I was in Edmonton, my host exclaimed loudly when his Blackberry told him the ERCB were going to have on their website all the documents submitted to tell how oil sand companies will reclaim and close their tailings impoundments. That promised to be a signal day in the history of tailings impoundment closure and regulatory
Is wisdom Vedanta’s mining mantra?
Posted in Asia, Church on October 13, 2009 | 1 Comment »
Does ICMM have a comment on Vedanta and their mining practices in India? Namely planning to cut down the trees that are sacred to the local tribe and then proceed to mine? Now the British Government has told British-registered mining company Vedanta, owned by an Indian national turned Brit, that they have been behaving [...]
Mercury mummies, mining, UFOs, and District 9
Posted in blogs, health on October 12, 2009 | Leave a Comment »
It is Canadian Thanksgiving day and USA Columbus day. Let us indulge then in one of the stranger blog postings of the past week on mining. The crux of the story is the find of many mummies in Chile–all dead from mercury poisoning.
Geotextiles to cap soft tailings: a tale of two mining cities
Posted in Africa, Oil sands, Tailings on October 11, 2009 | Leave a Comment »
A week of flights and meetings: Vancouver to Fort McMurray to Edmonton to YVR. Long discussions around tables and papers flying fast and furious. We argued how to cap an oil sands tailings impoundment. We were held up by arcane arguments about strength, density, analytical method, material purchase, equipment selection, and the opinions of the local [...]
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