this is about the new mining & smithing re-do - I mined some Luminite and when I was trying out the new smithing interface -the ore all disappeared. I checked in the Bank - nothing there either. Is this a bug ? or is it suppose to disappear ? 

Have you checked the new metal bank? It is in the new smithing interface. You probably deposited all your ore into the metal bank. This metal bank is not really a bank, but is accessible when you smelt at a furnace or smith at an anvil. This is so that you do not need to use your actual bank when smithing.

I had something similar happen to my main account.  I did find some bad ore but not sure if it just went bad in my bank.