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By R. S. Handy

THE properties of the Patiño Mines and Enterprises Consolidated, Inc., a New York corporation, are near Llallagua in the department of Chayanta in the west central part of Bolivia, South America, about 80 miles southeast of Oruro and 250 miles southeast of La Paz, the largest city in Bolivia and its virtual capital. The properties are accessible by railroad from three points on the west coast-from Mollendo, Peru, across Lake Titicaca, from Arica by way of La Paz, and from Antofagasta, Chile. The latter route, although the longest, is recommended by the companies as affording a more gradual introduction to the high altitudes; the mine being 13,000 ft. above sea level. The company operates its own railroad from its properties at Uncia to Machacamarca on the Chile & Bolivia R. R., a distance of 60 miles. This railroad is well equipped and well operated, and its location among the mountains surrounding Uncia represents excellent engineering skill. In fact all of the railroads, although they are of only a meter gage, are remarkable for the excellence of their construction, the arrangement of their dining and sleeping cars and the precision of their operation. There is only one drawback to rail- road and hotel accommodations and that is the absence of heating facilities, which does not seem to affect the natives but keeps a tenderfoot's teeth chattering continually. The company is a consolidation of the Patiño company, owning properties at Uncia, with the Compafiia Estanfera de Llallagua, a' Chilean corporation owning contiguous properties at Llallagua. Before the consolidation these companies were deadly enemies, and there still remain at the surface plant at Uncia the fortifications and underground defences provided during the warfare between the two factions. Also, in the Azul, or "Blue" tunnel at the junction line between the two properties is a strong steel barricade still bearing marks of the bullets fired during the various armed tilts between the workmen of the two companies. The headquarters for the mining operations and the milling plant have been moved since the consolidation from the original location at Uncia to the Llallagua side of the mountain, where the Chilean company's operations were carried on. The historic old town of Uncia, with its massive stone buildings of Spanish design, is a wreck, while the Llallagua side is being rapidly built up with modern structures.

Jan 1, 1929

By CLYDE M. EYE

THE Sub-province of Benguet is in the North Central part of the Island of Luzon. Baguio, the capital, is situated on a piateau 5000 ft. above sea level, and is the main health resort of the Philippines. It is rapidly becoming the favorite resort for the China Coast as well, and has many miles of beautiful, curving drives with nearly every pine-covered knoll surmounted by a summer home. The United States Army has a recreation post here, known as Camp John Hay, with a well-equipped hospital, and there is a Country Club with a good golf course adjacent. The weather during the winter months and until late spring is ideal. The business center consists mainly of Chinese and Japanese stores, several hotels, and a large public market, in which are displayed all of the vegetables of the temperate zone, which are flown near Baguio, and many tropical and other products brought up from below. This district is reached from the Coastal Plain either by the old Benguet road built in 1904 by the United States Government, or by the Naguilian road, built some years later. The former is now a toll road, with a line of stages operating over it to and from Des Mortes in connection with the government-owned rail- road. Auto travel from Manila is also along this road, the trip from Manila to Baguio requiring about seven hours, following up the great valley north of Manila for nearly 150 miles to the lower end of the Benguet road, and thence to Baguio, 25 miles. This is an interesting, scenic trip; the road is especially famous for the zig zags where it climbs out of the canyon of the Bued River to the plateau. In the September number of the National Geographic Magazine, a fine aerial picture of this road, as well as of other interesting points in various parts of the Philippines, appears. Freight for the district is taken in mainly over the Naguilian road connecting with the railroad at Bauang. This route follows the ridges of the mountain slope with broad vistas and views of the coast.

Jan 1, 1930

By M. D. Hassialis

THE object of a technical paper is to communicate new technical knowledge, the paper being the vehicle of communication and the existence of new knowledge its reason for being. It follows that the development of information worthy of communication, the criterion being novelty, is prerequisite to exercising the privilege of communication. The act of communication is achieved when the reader perceives the nature of the new knowledge, i.e., when he understands it. A paper achieving this objective is an acceptable technical paper. Development of new knowledge has as one of its purposes the increase of the existing state of knowledge and the enjoyment of the benefits derived therefrom. Technical knowledge is a collection of facts so ordered as to make apparent, relations existing between the facts. When the interrelations have been exposed the facts have been interpreted or explained Three broad, overlapping categories of technical papers may be recognized: papers consisting of (a) a report of facts, (b) an explanation of facts, or (c) a combination of a report and an interpretation. Ideally a technical paper should belong to one of the last two categories but current practice is to accept papers belonging to any of the three categories. Based on a small sample drawn from the scientific and engineering literature, the relative frequency of the three types is a: b: c:: 20:1:14. If the sample be limited to engineering literature, the ratios become a:c::2:1; type (b) being nonexistent. This large departure from the ideal is a consequent of the

Jan 1, 1948

By Willard L. Cumings, Benjamin L. Miller

(Glen Summit Meeting, June, 1911.) I. THE CAMAGUEY DEPOSITS. 1. Location. THE Camaguey brown iron-ore deposit covers the top of San Felipe hill, the nearest point of which lies 14 miles NW. of the city of Camaguey. While there are several low flat-topped hills in the vicinity covered with a more or less continuous mantle of brown iron-ore, the deposit of San Felipe hill is the only one of any size and importance, and the name "San Felipe district " is proposed for the region. The deposit extends in a NW-SE. direction for a distance of about 10 miles, with an average width of 5 miles. The location is shown in Fig. 1, a sketch-map of the eastern part of Cuba. Fig. 2 is a map of the San Felipe district. 2. Description. The district is mentioned by Spencer,1 who says: "The Cubitas iron-ore fields are situated from 12 to 15 miles north of Camaguey City, in the province of Camaguey Within an area measuring roughly 10 miles east and west and 4 miles north and south, there are several flat-topped mesas rising 300 to 400 ft. above the level of an almost featureless plain which extends for many miles in all directions except toward the north." With the exception of the discrepancy in his statements as to the distance from Camaguey and the area of the hill, which is over 50 sq. miles, his description is a very good one. Kemp 2 has the following to say of ores in Carnaguey Province * Geologist, Bethlehem Steel Co. + Professor of Geology, Lehigh University. 1 Bulletin No. 540, U. S. Geological Survey, p. 324 (1908). 2 The Iron Ore Resources of the World, printed by the Eleventh International Geological Congress, vol. ii., p. 795 (1910).

Mar 1, 1911

By A. CHESTER BEATTY

MAGNESIUM oxide is by far the most refractory of the common oxides, since it has a melting point of 5072 deg. F. as compared with 3110 deg. F., the melting point of silica (crystobalite) ; 3722 deg. F., the melting point of alumina (corundum) ; and 4127 deg. F., the melting point of chromite (Cr2O33FeO). Its large-scale use in the lining of metallurgical furnaces dates back to the latter part of the nineteenth century, when extensive deposits of magnesium carbonate were discovered in southern Austria in the province of Styria. Before the development of Austrian magnesite, calcined dolomite, a mixture of lime and magnesia, was used in basic steel-making furnaces. The lime in the dolomite was quite objectionable, since it slaked on exposure to the atmosphere, and dolomite therefore could not be made' .into permanent furnace bottoms or into brick. The Austrian magnesite, with its very low lime content, was free from these objections and soon displaced much of the dolomite. With the extensive development of basic steel-melting, the rise of the copper industry, and other metallurgical and chemical processes which dealt with chemically basic substances, the use of magnesite grain and magnesite brick increased rapidly.

Jan 1, 1931

By Thomas T., Read

THE decades immediately before and after the end of the nineteenth century (1890-1910) were a period of increased activity in mineral industry education. One reason for ,this, undoubtedly, was the rapid increase in mineral production in the decade 1880-1890; pig iron and copper production tripled; coal, lead, and zinc output more than doubled. Most of the other mineral substances followed the same general trend. Aluminum production began in 1886; petroleum output, which in 1888 was less than it was in 1882, almost doubled in the next three years. Gold alone showed no appreciable change until its discovery at Cripple Creek in 1891, followed by the Klondike in 1896, brought to boiling a public interest in minerals that had been simmering for some years previously. The first cyanide plant in the United States was erected at Bodie in 1893, and the first chlorination plant at Cripple Creek* the next year. Silver- lead smelting had already greatly developed, and the metallurgy of copper was almost transformed. The hearth area and smelting capacity of copper reverberatory furnaces more than quadrupled between 1878 and 1894; matte converters were first erected at Butte in 1884. Copper production of the United States in 1899 was 30 times that of 1872. While it was the increased technology used in mineral production that really made the field attractive for educated young men, undoubtedly they did not realize that, and were impressed mainly by the quantitative increase in output. Another factor was the increased general interest in engineering education; three times as many men took engineering degrees in the United States in 1890 as in 1880; 1893 showed almost a 56 per cent increase over 1890. Industry had come to recognize that technical training was worth while. The mineral industry lagged somewhat at first; the total number of mining degrees

Jan 1, 1941

By C. A. Stewart

I. INTRODUCTION AND GENERAL STATEMENT OF RESULTS. The field-work upon which this paper is based was done in the summer of 1910, and was made possible by the courtesy of the Imperial Copper Co., which gave me access to its property. For their kindness in this respect I wish to express my thanks to W. F. Staunton and Meade Goodloe. Moreover,. B. F. Smith and G. B. Gentry, mining engineers in the employ of the company, gave invaluable assistance by placing maps,. etc., at my disposal, and by discussing with me the problems of the district; and it is a great pleasure to acknowledge this indebtedness to them. In order that the significance of some of the details that follow may be better appreciated at first reading, a general outline of the conclusions reached is given here. In the Silverbell mining-district a series of Palaeozoic limestone blocks is completely surrounded by post-Palaeozoic igneous rocks, intruded in the following order: alaskite, alaskite-porphyry, biotite-granite, andesite, and quartz-porphyry. The biotite-granite is believed to represent a differentiation of the. magma from which the alaskite-porphyry came ; and this conclusion-has an important hearing on the origin of the ores. The intrusion of both alaskite-porphyry and biotite-granite was followed by the emission of magmatic waters, which sericitized and silicified the alaskite-porphyry and granite, and produced in the limestone, by the addition to it of silica, iron, and alumina, great masses of garnet, quartz, and wollastonite. Following close upon these solutions came metal-bearing magmatic waters, which impregnated porphyry, granite, and alas kite with cupriferous pyrite, and deposited in the garnet zones chalcopyrite and copper-bearing pyrite that make important bodies of contact-metamorphic ores. Secondary enrichment has taken place in the disseminated ores in the igneous rocks,. raising their copper-content to 2 per cent. in some cases,. and extensive drilling has been undertaken to block out these deposits. East of the contact-metamorphic deposits there is a fissure-vein of lead-silver ore in the quartz-porphyry. This rock is distinctly younger than the alaskite-porphyry and the granite; and the lead-silver ores belong, therefore, to a period of mineralization distinctly later than the copper-deposition.

May 1, 1912

By John D. Wiebmer

First, a definition of a small scale miner is in order. The US Bureau of Mines classifies him as one who produces 360 t/d (400 stpd) of ore or less. In Canada, he would be refered to as a "junior company." Mexico identifies the small scale miner as one whose gross income from operations is less than $880,000 per year. A small surface mine in India employs less than 400 people, and a small underground mine employs less than 150. Peru considers a small scale miner one who produces less than 54 000 t/y (60,000 stpy) of ore. Obviously, the term is relative. What may be a small mine in one country is a medium or large mine in another. This lack of agreement is understandable since small scale mining does not often cross national boundaries. Rather, its effects are felt at the regional and local levels within each nation. Its importance doesn't lie with any huge contribution to the GNP or balance of trade. Instead, its value is as a local employer and as a frontrunner in geologic exploration.

Jan 2, 1979

By L. D. Ricketts

' In recent years the metallurgical field of the copper industry has expanded greatly, the copper ores have become lean add diverse in charactcr, and we are obliged to treat such ores on a very large scale. On the commercial side, the operating and consulting staffs of the great mining companies have been enlarged and organized, and no great capital expenditure is decided upon until it has been investigated and recommended by a highly organized force of specialists as a committee. I believe that in the scientific field and in the most valuable proceedings of our -various societies the old idea of one-man point of view and one-man treatment of principle and detail together has been splendidly developed and should continue, but for the advancement of our art we should deliberately discuss subjects among ourselves in order to do away with the idiosyncrasies of the individual and to gain a composite view reprcscnting the best thoughts of many men. In the development of new ideas leading to the introduction of new methods, the societies could enlarge their present great field of usefulness if such discussion be had, and in my opinion further great good could be done if a number of men of different qualifications and experience would join in preparing a joint book, each dealing with his particular problem, but consulting the other men. In this way individualism would be preserved and various processes would be described, and if properly reviewed the paper would be palpably capable of analysis, and the student would have at his command the associated efforts of a group of qualified engineers. I have neither the time nor the qualifications to make an investigation and study in detail of hydro-metallurgical processes, but for some years I have foreseen the development of such processes, and I have a deep interest in the subject and have given some of its phases careful consideration from a long-distance viewpoint. I have assisted in directing many experiments and in reviewing the merits of many processes, and am glad to make some introductory remarks with the understanding that other gentlemen present will freely and candidly enter into the discussion and help to fill out the few bare bones that I can uncover.

Jan 1, 1916

By D. L. Gardner, H. L. Barr

The following report covers the history of the development of the mine, present equipment, methods and costs of mining and milling. In addition, a description of the ore deposit is given with emphasis on the origin of the fractures, mode and types of ore occurrence, and mechanics of granite emplacement. An endeavor has been made to present a complete and accurate statement of the San Mauricio mine, the highest grade gold mine in the Philippine Islands. Credit is gratefully acknowledged to the mine staff for descriptions and details regarding their particular field of work. All analyses were made by Mr. T. A. DeVore, head chemist, San Mauricio Mining Co. Messrs. Edward Wisser, J. E. Fyfe, A. F. Skerl and W. B. Meek, geologists, have contributed geologic information and ideas, for which thanks are extended. The Executive Committee of Marsman and Co., Inc., Managers of the Company, has kindly given permission for publication. Mr. J. B. Stapler, Division Manager, Marsman and Co., has had the courtesy to read the manuscript and to give critical and helpful suggestions. Location of Area and Scope of Work San Mauricio Mining Co. controls a group of 113 claims that lie immediately north of the town of José Pafiganiban (formerly Mambulao), Camarines Norte, Luzon, P. I. (Fig. 1). Exploration work commenced in the spring of 1934; active development began in the fall of that year and has continued to the present date. Mill construction was begun Ocl,. 15, 1935, and production started March 10, 1936. Total production to June 1, 1939, is P10,499,105.15 ($5,249,552.57).

Jan 1, 1941

By D. L. Gardner, H. L. Barr

The following report covers the history of the development of the mine, present equipment, methods and costs of mining and milling. In addition, a description of the ore deposit is given with emphasis on the origin of the fractures, mode and types of ore occurrence, and mechanics of granite emplacement. An endeavor has been made to present a complete and accurate statement of the San Mauricio mine, the highest grade gold mine in the Philippine Islands. Credit is gratefully acknowledged to the mine staff for descriptions and details regarding their particular field of work. All analyses were made by Mr. T. A. DeVore, head chemist, San Mauricio Mining Co. Messrs. Edward Wisser, J. E. Fyfe, A. F. Skerl and W. B. Meek, geologists, have contributed geologic information and ideas, for which thanks are extended. The Executive Committee of Marsman and Co., Inc., Managers of the Company, has kindly given permission for publication. Mr. J. B. Stapler, Division Manager, Marsman and Co., has had the courtesy to read the manuscript and to give critical and helpful suggestions. Location of Area and Scope of Work San Mauricio Mining Co. controls a group of 113 claims that lie immediately north of the town of José Pafiganiban (formerly Mambulao), Camarines Norte, Luzon, P. I. (Fig. 1). Exploration work commenced in the spring of 1934; active development began in the fall of that year and has continued to the present date. Mill construction was begun Ocl,. 15, 1935, and production started March 10, 1936. Total production to June 1, 1939, is P10,499,105.15 ($5,249,552.57).

Jan 1, 1941

By ERNEST F. . SURCEIARD

work have been published from time to time by the Survey.' A detailed report on the Birmingham district, with maps, has been completed, and will be published within the next year." In the following paper it is aimed to present only an outline of the geologic relations of the ores, since the Appalachian geology of Alabama has been discussed by many previous writers, but to describe rather fully the ore of the Birmingham district, and to discuss its relations and probable extent. IT. OUTLINE OF THE GEOLOGY. 1. Stratigraphy. The pre-Pennsylvanians rocks exposed in and along the borders of the valley-regions of Alabama, range from middle Cambrian to Mississippian (Lower Carboniferous), and at the SW. extremities of the valleys these rocks are overlain by coastal-plain deposits of Cretaceous and Tertiary age. A generalized section of the pre-Pennsylvanian Paleozoic rocks for the valley-regions is given in Table I. TABLE I.-Section of Pre-Pennsylvanian Paleozoic Rocks in Valley-Regions of Alabama. System. Formation and character. Thickness. Ft. Shale and sandstone 300 to 2,200 Carboniferous (Mississippian- Limestone and shale 300 to 800) I Sandstone and shale 50 to 200 1 Fort Payne chert and limestone 100 to 300 Devonian Chattanooga shale 0 to 30 Silurian Clinton (" Rockwood ") shale, sand¬ stone, and iron-ore 200 to 700 Ordovician Chickamauga ("Trenton") limestone.. 200 to 800 Cambro-Ordovician Knox dolomite and chert 1 2,200 to 2,700 basal dolomite 500 to 600 Cambrian Conasauga shale and limestone 1,000" to 1,500 - I a Base not. exposed.

Nov 1, 1908

By W. A. STERLING

IN the opencut iron mines of the Mesabi Range in Minnesota, the trend in mining is in the development of mining equipment and mining methods which will move surface overburden and ore-bearing materials with less labor and at a cheaper cost. This is a must for most of the independent operators. Their reserves of direct-shipping ore are extremely small and their operations are being conducted in small, or intermediate pits, with a high stripping ratio in the outer fringes, or shore lines of older pits. and in ore bodies passing from direct shipping to the washing and the intermediate, or retreat ore state. The trend is toward deeper stripping, longer and steeper hauls, and the necessity of moving a total of from three to five or six tons of overburden and ore material for each ton of shipping-grade ore produced. This naturally calls for greater production, with larger shovels, or draglines. cheaper drilling and blasting costs through the drilling of larger-diameter blastholes, and cheaper haulage through the use of trucks of larger capacity and more extensive use of belt-conveyor systems. This trend is notable both in stripping and mining.

Jan 1, 1948

By Gregory M. Dexter

Recent litigation in Pennsylvania between three coal-mining companies and a private water company resulted in the payment by the coal companies of the equivalent of about $500,000 to buy a new water supply to replace that which had been damaged by acid drainage from strip mining. An investigation of the relevant facts indicates that the water could have been treated by spending about $40,000 on equipment and $15,000 yearly for chemicals, labor, and power until the contamination could be reduced about 80 pct. The water company's supply, furthermore, had deteriorated largely by reason of dry weather before stripping was begun by the coal companies. Payment to the water company should not have exceeded $300,000 and could have been as low as $100,000. Strip mining of coal is common in Pennsylvania. The most important objection to it in Pennsylvania is generally acid pollution of runoff water. An outline of the methods, therefore, that could be used to reduce such pollution, to compare acid-contaminated waters, and to treat such waters to make them satisfactory for public and industrial use is worth-while. The watershed of the West P~M Water Co. covers about 4.5 square miles, 20 miles west of Pittsburgh, and has two 90,000,000 gal reservoirs sup- plying about 1,300,000 gal daily for public and industrial use of which 450,000 gal daily are for two railroads. The pollution arises from weathered derivatives of typical "Coal Measures"

Jan 1, 1949

Uranium was the prima donna of 1978, and the exploration pace was fast and furious in traditional uranium producing areas such as the Powder River Basin, Grants mineral belt, San Juan Basin, and Uravan mineral belt. Adding fuel to the fire were several significant discoveries: The Date Creek Basin of western Arizona, the McDermitt caldera of northern Nevada, and Tallahassee Creek in Colorado's intermontane basin. Advances in solution mining haw resulted in deeper drilling on the Texas Coastal Plain, and the price of uranium has encouraged widespread exploration in frontier areas and non-sandstone environments.

Jan 5, 1979

By Richard J. Robbins

Mechanical moles have developed through a tedious process of evolution. At times it has seemed that tunnel borers have been subject to the same Darwinian rules of evolution as their zoological namesakes who, despite their efficiency, are highly specialized and still restricted to soft soil conditions near the surface of the ground. HISTORICAL HIGHLIGHTS The Robbins Co. began its work in this field in 1947 with the development of a twin-bore continuous coal miner. Although these machines were used primarily in coal, two of the early prototypes were used to bore tunnels through shale. Disk cutters were first used on these machines and showed promising results as core breakers between drag-bit kerfs. In 1953, James S. Robbins and Assocs. undertook the development of a 25-ft 9-in.-diam circular tunnel borer for Mittry Construction Co. to be used at Oahe Dam in South Dakota (Fig. 1). This is believed to be the first rock tunnel-boring machine built since the end of the 19th century when short sections of the Channel tunnel were successfully bored in chalk from both the English and French shores. Another Oahe Dam machine was built in 1955, and then a series of three small-diameter machines for the company's first real experience with medium-hard and hard rock (Fig. 2) None of these three could be considered a success, although they laid the groundwork for the success that followed. Interbedded shale and limestone in Pittsburgh and hard limestone in Chicago quickly pointed up the weaknesses in these machines which were used by Perini, Dravo, and Healey. Among the problems were the high breakage rate of tungsten-carbide drag bits, too much flexibility in the drive shafts, failure of high-pressure hydraulic systems, chain-conveyor failure, and general lack of rigidity and strength. In 1956 another attempt at medium-hard and hard rock-boring proved this time to be a success and a significant turning point in the development

Jan 1, 1970

By Theodore Simons

Permission to present this paper at the February, 1915, meeting of the Montana Section of the American Institute of Mining Engineers was liberally granted by W. A. Clark, Jr., President-and General Manager of the Timber Butte Milling Co., and by the representative of the Minerals Separation Co. For the many courtesies shown the writer on his visits to the mill and for information supplied, he is indebted to all the officers of these companies, especially to W. N. Rossberg, W. D. Mangam, Hamilton Cooke, Jr., T. M. Owen, T. C. Wilson, R. McGillivary, L. L. Quigley, C. Bartzen and others. The writer takes this opportunity to herewith express to them his appreciation and sincere thanks. Location of Mine and Mill The concentrator of the Timber Butte Milling Co. was built to treat the ore mined at the Elm Orlu mine of the Elm Orlu Mining Co., which carries zinc and lead in sphalerite and galena; copper in bornite, chal-cocite, tennantite, and tetrahedrite; and gold and silver either free or chemically combined with the sulphides of the base metals. The gangue is chiefly quartz, barite, fluorite, rhodonite, and rhodocrosite. The iron in the ore occurs as irqn pyrites. The Elm Orlu mine is situated in Butte, Silver Bow County, Mont., near the northern border of what is locally known as the Butte sulphide-copper belt, about one mile north of the Anaconda mine, and adjoining the Black Rock zinc mine of the Butte & Superior Co. on the southwest. The mill is on the northern slope of Timber Butte, a prominent topographical landmark in the Butte district. This site permits to a large extent the gravity system of ore flow; it presents a convenient and extensive area for a tailings pond; and it is comparatively near to the source of water supply and to existing railroads.

Jan 1, 1916

By John K. Hammes

INTRODUCTION This introductory paper presents a description and definition of what the finance function is and what it specifically means for the mining industry. In its simplest terms, finance is, "management of money matters". As an area within the discipline of business administration it draws heavily on the related fields of economics and accounting, and to a lesser extent on marketing and production. MINING FINANCE DEFINED In preparing to write about what finance means to the mining industry, I asked a number of mining people the question, "What does mining finance mean to you?" Most responded that mining finance was "How a company borrowed money for mine development", and perhaps half those questioned included "raising equity" in the definition. It is not surprising that the mining industry concept of finance is the providing of funds needed for the objectives of the business, for that was once a view shared by authorities in the field of business administration. Further, it is certainly the area where much of the emphasis has been placed in the past ten to fifteen years as the industry struggled with the development of more remote and more refractory or lower-grade orebodies while profitability and internal cash flow were below expectations. No wonder project finance became such a popular topic. Twenty years ago it is probable that the emphasis would have been on mine valuation, for that subject was the area of finance then most often examined in industry publications. Papers concerning the pros and cons of payback, internal rate of return, and discounted cash flow appeared regularly. Let's examine the following situations, each the result of a financial decision: - Funding the exploration program in a developing country was accomplished by buying the next six-months budget needs in local currency. One week later the currency devalued 30 percent. If the purchase had been delayed or the local currency borrowed short term, a substantial saving would have been made in funding the program. - A major mining company borrows heavily to finance both expansion of its primary mining business and its entry into several new industry segments. When markets for all of the commodities it produces turn down for a prolonged period, there is concern over the adequacy of cashflow to cover debt service in addition to other company needs. The company's financial officers, however, had arranged very large committed credit facilities from numerous financial institutions which assured the availability of funds for several years. This enabled the company to implement a strategy to conserve cash, sell assets and survive until conditions improved. Further, short term suppliers of credit also were comfortable with the assurance that longer term credit was there to support them. -A medium size mining company financed several mines independently with limited obligations on the part of the parent company. The company decided to refinance the operations under one agreement. More flexible terms, lower interest cost and a longer tenor financing were achieved in return for assuming the risk as a direct obligor. - The exploration and development group of a large mining company proposes to develop a new mine in a country in which the company does not presently operate. When the investment is rejected they are advised that one reason was that the reinvestment assumption inherent in the discounted

Jan 1, 1985

By T. A. Rickard

The purposes of composition are various; one purpose, for instance, is to make a record for the writer's own use, as in a diary. That does not involve responsibility to others. There is also the writing meant to influence opinion-to be persuasive, and pleasing. With such writing we need not concern ourselves at this stage of our study. The prime purpose of technical writing is to be informative-to convey information; therefore it must" be clear beyond the chance of misunderstanding. Such clearness is impossible if meaningless or ill chosen, words are sprinkled through the text. Discard the trivial phrases that are constantly at your elbow. Brush aside a host of vapid superlatives. Metternich exclaimed:' "The superla¬tive is the mark of fools". It is a false emphasis, like the underlining in a school-girl's letter. For example, the little word `very' can be deleted nine times out of ten; it is an impediment to terse and perspicuous writing, as 'the multitudinous hand-baggage of the British tourist is to his travel. 'Very' supposes comparison. A mine with a 1000-ft. shaft is very deep to the scribe who writes from the Joplin district', in Missouri, but it seems a shallow hole to a man living at Calumet, Michigan. A vein that is 10 feet across may be considered very wide at Cripple Creek, Colorado, but it is only a `stringer' to the miner at the Homestake, in South Dakota. Ore assaying $20 in gold is very rich at Juneau, Alaska, where .10,000 tons of $1 ore is crushed daily, but it is relatively low-grade to the pocket-miner at Alleghany, in California. It is all a matter of comparison; unless the reader knows your standards of depth, width, or richness, your `very' has no significance. "Where erosion was very rapid or oxidation very shallow"

Jan 1, 1931

Jan 1, 1885