Issue link: http://resourceworld.uberflip.com/i/318453
j u n e / j u l y 2 0 1 4 www.resourceworld.com 53 Is your mine still using an oil fired furnace? by Charlie Parsana Oil fired (diesel) furnaces are still in use in mines all across the globe. The technology has served its purpose well over the years, having become popular during World War II for the produc- tion of steel used in ammunition. Today, these furnaces enjoy widespread use in a variety of industries, but new technology is emerging throughout the mining industry that is changing the way melting is done. In an oil furnace, oil (diesel fuel) generates a flame that heats a crucible. Induction furnace heat is generated by electromag- netism, which involves the interaction of magnetic fields and electric circuits. If your mine is one of many that have not yet made the switch to an induction melting furnace, there are a few reasons that make it worth considering. More Compact – Most mining operations are short on space, needing as much space as possible to store tools, create work areas, and more. Because an induction melting furnace takes up less space, mines are able to utilize more space for storage and work areas. Induction furnaces typically maintain a lower temperature on the sides of the unit. This also helps create a more pleasant working environment in the manufacturing areas of mining operations. Higher Efficiency – Induction furnaces are high-efficiency furnaces, meaning they expend less energy by the very nature of their operation. The electric bill for smelting silver and gold is much lower than that required by a traditional oil (diesel) fur- nace, keeping operation expenses low. In an induction furnace, the smelting process time is much shorter than the time required for oil-fired furnace smelting– a major benefit. Less Work – On a production level, the efficient operation of an induction furnace means precipitate can be melted in a given work shift, which improves production levels. Flexibility – An induction furnace's design is more flexible than a traditional furnace's design, allowing an operation to tailor a unit to its specific needs. It also improves the learning curve, since employees will only have to learn those features that pertain to the job they'll be doing. Efficient induction smelting furnaces are ideal for the mining industry for the smelting of gold and sil- ver precipitate. n Charlie Parsana is Project Manager at ElectroHeat Induction, Jersey City, New Jersey, USA. Web Site: www.electroheatinduction.com Joy Global acquiring Mining Technologies International Joy Global Inc. [JOY-NYSE], a world- wide leader in high-productivity mining solutions, has entered into a definitive agreement to purchase certain assets of Mining Technologies International, Inc. (MTI) for CDN $51 million. Headed by founder Robert Lipic, President and CEO, MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and is a world leading supplier of raise bore drilling consumables. In 1995, MTI consolidated its various companies under one name. The compa- nies formerly known as Drilco Pty, Drillex International Canada, Continuous Mining Systems, LHD Equipment, and John Clark Inc. joined and commenced to operate under a single MTI banner. Joy Global is acquiring substantially all of the assets associated with MTI's hard rock drilling: loaders, dump trucks, shaft sinking, and raise bore product lines. MTI's fiscal 2013 revenues associated with these product lines were approximately US $90 million. Excluding the impact of transaction costs and excess purchase accounting charges, Joy Global expects the transaction to be accretive to earnings in 2015. Completion of the transaction is sub- ject to customary closing conditions and is expected to occur within 90 days. "This acquisition represents an excit- ing opportunity as we execute on our growth strategy to expand our under- ground mining product lines into the hard rock markets including nickel, potash, palladium, platinum, gold and copper," commented Ted Doheny, Joy Global President and CEO. "We believe that MTI's broad range of complementary products, combined with Joy's proprietary technol- ogy, our global direct service team and operational excellence capabilities, will provide significant value to hard rock mining customers and our shareholders," Doheny added. n An example of an ElectroHeat induction furnace. Photo courtesy ElectroHeat Induction. MININGWORLD