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By E. V. Manlapig, K. R. Rahal, J-P Franzidis

"The Floatability Characterisation Test Rig or FCTR is a highly instrumented, mobile flotation pilot plant built by Baker Process (now EIMCO) for the AMIRA P9 Project for use in flotation plant modelling and simulation studies. With the Mintek Floatstar system controlling the level in every cell, and the facility for full stream sampling on all streams, the FCTR is a unique tool for producing data of sufficient quality for flotation plant modelling. The plant was commissioned at Lonmin's Karee and Eastern Platinum concentrators in 1999/2000, and completed a number of test work programs to investigate the effect of power input and regrinding on metallurgical performance. Lonmin's experience with the FCTR has caused it to build two of its own to undertake further projects on its various mines. This paper describes the design of the FCTR and the features that make it a unique research tool, and the benefits derived by Lonmin through their experience with the unit.INTRODUCTIONAs part of the Australian Mineral Industries Research Association (AMIRA) P9 project, a new model for flotation has been developed, in which the overall recovery, R, of the jth floatability class of the ith size class of a particular mineral, is given as (Savassi, 1998):"

Jan 1, 2002

By M. Turner-Jones, N. Steenekamp

"The Lonmin Base Metal Refinery treats converter matte from the Lonmin Smelter to produce nickel sulphate crystals, copper cathode as well as a concentrate containing the platinum group (PGM) metals. The original process employed a Sherritt design and utilizes atmospheric and pressure leaches for the dissolution of base metals. This paper describes the original flow sheet and the improvements made to enhance PGM recoveries, product quality and to increase capacity. Changes include the introduction of flash recycle cooling on the autoclave, batch leaches to improve the quality of the PGM concentrate and the implementation of solid-liquid separation with centrifuges. INTRODUCTIONThe Lonmin Base Metal Refinery (BMR) is about 100 km north-west of Johannesburg and treats converter matte from the Lonmin Smelter to produce nickel sulphate crystals, copper cathode and a concentrate containing the PGMs. The plant was commissioned in 1985 based on a Sherritt design to treat 12 tonnes converter matte per day. The original flow sheet consists of a milling circuit, an atmospheric leach and a pressure leach to produce a PGM concentrate which is despatched by helicopter to the Lonmin Platinum refinery in Brakpan, about 40 km east of Johannesburg. The liquor from the atmospheric leach is treated by crystallization to produce a nickel sulphate hexa-hydrate crystal. The leach liquor from the pressure leach is treated by a selenium removal step followed by electro-winning to produce copper cathode. The spent solution from the copper electro-winning is recycled to both the atmospheric and pressure leach steps to provide sulphuric acid for the leaching reactions.Modifications were made to the original circuit to increase the plant capacity, to improve the PGM recoveries and to improve the quality of the PGM concentrate. Capacity increases included all the unit operations, new mill, new first stage, additional autoclaves, additional nickel sulphate crystallizers, new copper electro-winning and new batch leach reactors for upgrading the PGM concentrate. The current circuit is described in this paper and not the detailed history of each plant change."

Jan 1, 2012

By C. W. Reno

"THE LORNEX MINING PROJECT is one of several large-tonnage, low-grade operations recently placed in operation in British Columbia. It is located in the Highland Valley in the south central portion of the province. This area is described as a divide valley at an elevation range of 4,000 to 6,000 feet and is situated on the divide between two drainage systems. The major drainage to the west flows into the Thompson River and to the east and south the drainage enters the Nicola River system. This open-ended valley lies between low, rounded mountains in fairly heavily-wooded country. Prior to the commencement of copper mining activities, the first by Bethlehem Copper Corporation Ltd. over ten years ago, the valley was only sparsely settled. A few small ranches were in existence on the several Indian Reserves located along the valley bottomland. There has also been a small amount of logging activity in the valley, although much of the area is covered by dense lodgepole pine which has little or no value to the loggers. As the mining interest mounted with further discoveries of the disseminated copper ore typical of the district, much of the valley was covered with mineral claims and exploration drilling was carried on by several companies at various times. At the time Lornex was preparing to commence major construction work in early 1970, there was very little activity of any kind in the Highland Valley outside of the Bethlehem operation and a small amount of ranching."

Jan 1, 1973

By Patrick E. Cavanagh

"A pilot shaft furnace was operated for one year at Steep Rock to produce special high-grade products from coarse ore, using lignite as fuel. The furnace is 10 ft in diameter and 60 ft high. When operated to heat coarse Steep Rock ore to drive off combined water and give a 64-per-cent-Fe product, the fuel consomption was 900,000 Btu's per long ton of product. The furnace was run in this way from September 1966 to January 1967 to establish the technique of feeding and discharging the furnace and controlling the gas composition and temperature. The furnace is similar in operation to a lignite water gas producer containing a large proportion of catalytic iron oxide. Steam injection is used to control the temperature. The product was tumbled in a rotary trommel to stabilize it. The resulting fines could be fed to the conventional pellet plant at Steep Rock. The furnace was next operated to make 77-per-cent-Fe metallized coarse ore. Several major modifications in de-sign were made and the furnace was successfully operated for short periods to maintain the required conditions to remove 75 per cent of the oxygen from the ore to give a 75-per-cent-reduced product at a grade of 77 per cent iron. The furnace cooling zone was operated under positive pressure, with internai alkaline water sprays to cool the charge. The product was discharged from the open bottom of the furnace without serions reoxidation. The metallized ore was magnetically separated from the discharge. Most of the charred lignite discharged along with the ore is re-cycled. Fuel requirement was 11,000,000 Btu's per long ton of product. This metallized coarse ore is intended for blast furnace feed. A short test run was carried out to establish the conditions for making a highly reduced melting stock for steel furnaces. To achieve 90 per cent reduction and over 90 per cent Fe, the furnace must be slowed down so that the production rate is about one-half the rate when making a 75-per-cent-reduced metallized product. Fuel requirement is 15,000,000 Btu's per long ton of product. The simple shaft furnace developed is similar to the top half of a blast furnace, with some major modifications to allow discharging into the open air. This Low Temperature Blast Furnace program has been technically successful and has resulted in making data available for the design of a commercial plant. Study of the commercial feasibility of large-scale production of metallized coarse ore at Steep Rock is still continuing."

Jan 1, 1968

By A G. Rogers

This paper discusses the lubrication of surface and underground mining machinery and equipment from the standpoint of machine components. The machine components considered are bearings, cylinders, gears, chains, couplings, fluid drives, hydraulic systems, screws and wire ropes. The best selection of lubricants for these machine components, and for sub-divisions of the components, are outlined. They form general recommendations, for average operating conditions in both surface and under-ground mining operations. The American Petroleum Institute's service classification of both engine crankcase oils and gear oils is de-scribed and used in recommending products for these applications. The practical aspect of lubrication is kept foremost in the recommendations, which are designed to meet the requirements of a wide variety of equipment with the minimum number of lubricants. THE lubrication of mining machinery and equipment presents a variety of problems peculiar to the industry. The type of mine, the ambient temperature, water, dust, and operating and maintenance practices, as well as the age and condition of the equipment, are variables which have to be considered in making lubricant recommendations.

Jan 1, 1963

By J. D. Allan

"IntroductionThe purpose of this paper is to present a general picture of the Lynn Lake nickel area of northern Manitoba. The geology of the area will not be discussed in great detail, nor will the mining op; rations presently being conducted. Both subjects will be treated briefly and, in addition, mention will be made of some of the problems encountered in mapping in the area. some of the questions which still remain unanswered, methods of prospecting that have been applied and the future possibilities of the area.For present purposes, the Lynn Lake area will be considered as extending from west of Lynn lake to east of Barrington lake. Thus, more correctly, it should be termed the Lynn Lake-Barrington Lake area. It comprises five 15-minute map-areas, or a total of 800 square miles, in a block 47 miles east-west and 17 miles north-south.Lynn lake itself is about 120 miles north of Sherridon, Manitoba, the closes t rail terminal. The area is part of the Granville Lake sheet which was mapped by the Geological Survey of Canada in 1932, 1933, and 1935, the results being published in Summary Report 1933. Part C, and as Maps 343A and 344A on a scale of four miles to o.ne inch. In 1940, the McVeigh Lake area was mapped by the Geological Survey of Canada on a scale of 1,500 feet to 1 inch and a map was issued in 1945."

Jan 1, 1950

By F. J. Alcock

THE Magdalen islands have recently been attracting attention as a possible source of manganese. As early as 1880 small masses of manganese oxides were known to occur in the soil and at least one attempt was made to develop them. In 1939, after the outbreak of war, interest in the possibilities of the field was again aroused and during the winter of 1939-40 claims were taken up by two groups of Toronto interests. The islands also contain large quantities of gypsum. During the summer of 1940, the writer mapped the islands geologically, giving particular attention to a study of the manganese occurrences. For a base-map, the chart of the islands was enlarged to a scale of half a mile to an inch. Additional roads were added from traverses carried out in connection with the geological work, and form lines with approximate 100-foot intervals were put on from barometer readings. The geological map is the first that has been prepared of the islands. Previous Work In the summer of 1880, James Richardson of the Geological Survey of Canada studied the rocks of the islands and his r~port concerning them appears as Part G of the Report of Progress, 1879-80. In 1903, J. Obalski, Inspector of Mines for the Department of Lands, Mines and Fisheries of the Province of Quebec, visited the islands, chiefly to investigate the occurrences of manganese and gypsum, and his notes are found in the report on mining operations in the Province for that year. Around 1890, Robert Chalmers of the Geological Survey paid a visit to the islands, and his observations, which chiefly concerned the surface geology, appear in the Annual Report of the Survey, Vol. VII, 1894, Part M, p. 94. The next geological work was carried out by John M. Clarke, Director of the New York State Geological Survey. Clarke paid many visits to Gaspé peninsula between the years 1900 and 1920, collecting fossils and gathering h1s~orical data, and extended his investigations of Gaspé county over to the Magdalens. His Observations on the Magda/en Islands is included in the New York State Museum Bulletin 149, seventh report of the Director, 1910.

Jan 1, 1941

By Erwin L. Zodrow

"This paper is based on a statistical analysis of the Smallwood iron ore mine (6). In this mine, the prediction of magnetite is especially difficult because of strong trends. Recognizing the statistical limitations of the sample data, the paper approaches the basic statistical analysis of the magnetite by endeavouring to obtain a first approximation of its sample density function. The knowledge of the distribution of a random variable is essential for several reasons, but particularly: (1) to obtain reliable estimators of the population parameters -for example, mean and variance; and (2) to use these estimators in hypothesis-testing concerning future experiments -sample points and sample intervals."

Jan 1, 1968

By Guy Demers

"This paper defines the responsibilities and functions of the Maintenance Department, and its organization, physical and human assets, highlighting the unique operating problems. Due to the self-sufficient aspect of the Asbestos Hill Deception Bay project, the Maintenance Department cover-s fields that are numerous and very dissimilar: production, mobile, processing, service, power generation, fire protection, heating, water and sewage disposal equipment. Added to this, buildings, plant and camps, wharves and communications equipment all demand versatility, adaptability and expertise from maintenance personnel. Good maintenance practices are a necessity in this environment and are more critical than at southern locations; that is, high-quality replacement material, complete and well-controlled preventive maintenance, major repairs on a component-replacement basis, updated inventory, efficient training and permanent contacts with suppliers, combined with an equipment improvement program, updated specifications on lubricants, hoses, seals, filters, etc., are mandatory. The seasonal aspect of the operations applies a great deal of pressure on the maintenance team, as the production months do not permit major repairs. Short- and medium range planning and accurate evaluation of equipment conditions highly influence production efficiency. Maintenance control, planning and scheduling do not follow the accepted standard routines, as personnel turnover normally does not permit an accumulation of knowledge of the equipment history and condition by the •individual tradesman."

Jan 1, 1976

By W. L. Stuewe

For the purpose of this paper I shall, in order to limit myself, define the words 'Maintenance' and 'Equipment' as follows: Maintenance shall mean the 'care of or 'the sustaining of equipment in as nearly perfect condition as possible. Equipment shall mean any item of a mechanical nature entering into the production of coal; it will be seen that unless one limits the use of this word it could take in administration as well as operative equipment, and include metal mines, mills and smelters, and manufacturing plants. In any industry the first consideration is the proper operation of all units entering into the production of the article manufactured or produced. I wish to quote here what a man, well known internationally in financial circles, told his operators at the time a large expansion programme was under consideration. His exact words were: "I do not care how much it is going to cost. What I want to know is how much it is going to cost to operate and maintain. It is the continuous drain for repairs that costs us the most money." The truth of this statement has been proved time and again, and many companies have found the cost of maintenance to be the balance between profit and loss-so much so that, in two instances with which the writer is familiar, the mechanical equipment was practically replaced throughout. I bring this point out here to emphasize the value and necessity of keeping abreast of the times, and obtaining maximum efficiency with the minimum outlay. Time is indeed money where delays occur due to defective or poorly kept equipment, and it is absolutely necessary to prevent machinery from becoming defective or inefficient.

Jan 1, 1930

By Claude Hubert, Robert Sansfaçon

"The Malartic gold camp includes the Malartic Gold Fields, Barnat, East-Malartic, Canadian Malartic and Sladen mines. From 1935 to 1984, these mines have yielded 212 403 kg of gold. They occur within a 900 m wide belt of highly sheared, dislocated and faulted volcanic and sedimentary rocks (Piché and part of the Pontiac groups) herein named the Malartic Tectonic Znne (MTZ). The zone trends WNW-ESE and separates two lithotectonic sedimentary domains, the Cadillac to the north and the Pontiac to the south. The sedimentary domains are characterized by their coherent fold generations consisting of open to tight reclined and recumbent F1 folds that have been refolded into series of asymmetric upright F2 folds. A flat-lying schistosity (S1 ) and a vertical pressure-solution cleavage (S2) are ubiquitous throughout. Discrete sets of brittle and brittleductile faults are synchronous and parallel to each of these two fabrics.The MTZ trends N320° in the northwestern sector of the town of Malartie, changing to N2800 at its easternmost extremity. The Malartie and Sladen faults constitute its northern and southern boundaries respectively. These two faults also bound another set of faults oriented N305°. Throughout the MTZ, the faults at N280° and N320° and those at N305° outline a series of anastomosed motifs that constitute the principal structural feature of the Malartic district. Locally, a fourth set of minor faults at N065° combines with the other three prominent sets. All these faults have disrupted the gold-bearing volcanic, sedimentary and intrusive rocks encountered throughout the MTZ.The MTZ comprises numerous lozenge-shaped blocks of komatiites and basalts or greywackes and black shales which are cut by disjointed dikes, sills and small intrusions of felsic and mafic rocks. The latter includes gabbro, diorite, lamprophyre, monzonite and pegmatite. They frequently fill conjugate sets of fractures. In some areas, they are clustered into coalescent intrusions. The present morphology of these intrusive bodies( cube, chocolate-tablet boudin, parallel epiped and cigar) is not representative of their primary forms but the result of late shearing and faulting indicative of a major tectonic event subsequent to their emplacement. The intrusions were injected during a brittle stage of deformation related to the F1 folding but prior to the development of the F2 folds and subsequent tearing and shearing by late brittle and brittle-ductile faults . The ultramafic and mafic rocks are intensely altered to serpentine, tremolite, actinolite, carbonate, biotite, hematite and pyrite according to the nature of their proto/it h. In the vicinity of the MTZ, all lithologies exhibit mineral assemblages indicative of the upper greenschist or lower amphibolite facies of metamorphism.The structural evolution of the MTZ involved superimposed folding, shearing, transposition, mylonitization, brittle and brittle-ductile faulting. Each lenticular motif results from the combined effect of conjugate sets of shear zones that outline lozenge-shaped blocks where strain markers indicate different strain states from cores to margins. Bedding in ultramafic flows and/or sedimentary rocks is either NW-SE or NE-SW within the blocks but, in the vicinity of the Malartie and S laden faults, it has been rotated to become subparallel to the faults.Ore shoots are most commonly associated with altered and deformed bodies of diorite and monzonite, or some mafic and ultramafic schists and, at the Canadian Malartic, Sladen and East Malartic mines, with metasedimentary rocks. The shoots occur in close proximity to the various faults of the MTZ but the gold itself is intimately associated with pyrite, biotite and carbonate in halos bordering fractures crisscrossing the different host rocks. The density of fractures and the width of their altered zones have been significant parameters in the production of economic ore shoots. Grains of gold are visible in some veins of quartz a"

Jan 1, 1990

By G. W. H. Norman

The surficial Archæan rocks of the southern gold belt of western Quebec are constricted near Kewagama lake by granite masses to the north and south. This divides the belt into natural eastern and western parts. This paper deals with the eastern part, extending from Malanie to Haig township. In this section the Keewatin-Timiskaming rocks have a length of about 70 miles and end abruptly against garnetiferous gneisses of the Grenville terrain. In the western half of the section where exploration has been under way since the early twenties, there are sixteen mines that are or have been in operation, and eleven prospective mines. In the eastern half where exploration has been carried on since the early thirties, six prospective gold mines are under development, one· of which, Louvicourt Goldfields, is at the initial production stage. Of the sixteen properties in the western half that are operating or have operated, all, except the Golden Manitou, which is a base metal mine, and the old Green Stabell from which there was a small production of copper, produce gold. Of the eleven prospective mines in the western half nine have gold. New Bidlamaque has gold and copper and one, East Sullivan, has copper-zinc ore. Since production began in 1927 gold, silver, zinc, copper, and lead having a total value of about $10,000,000 have been produced from the mines of the eastern section of the southern gold belt of western Quebec.

Jan 1, 1954

By Buse Florian

This paper presents the specific features of the large-scale production and transportation systems (LSPTS), describing the main notions and characteristics of the LSPTS elements. A methodologically unitary approach of the formulation, formalization and solution of the problems regarding the planning of the LSPTS structure development is offered, based on the system description by the aggregation-decomposition method, as weil as on the complex of interreloted models for the planning optimization. The paper describes the characteristics of the complex of dynamic models for investments, utilized in solving the planning problems of the LSPTS structure development.

Oct 1, 2009

By V. Taylor

"THE petroleum industry in Canada has been experiencing considerable difficulty in filling its manpower requirements during the last few years, and because of the rapidly expanding nature of the industry it is concerned about the supply that will be available to fill the needs of the future. As the oil industry is one of the more technically oriented industries, the most acute problem exists primarily in the field of profession-al/technical personnel. This is particularly true in the production and exploration side of the business, because it employs the highest percentage of this type of personnel. Let me illustrate this by giving you some figures reported by the Alberta Bureau of Statistics as of December, 1965 -out of a total of 9,641 male employees engaged in oil producing and geological and geophysical operations in Alberta, 3,021, or 31 per cent, were classified as engineers, geologists, geophysicists, managers and other professional personnel. No figures are available for 1946 to make a direct comparison of the expansion of the industry over the past twenty 466 years, but it is doubtful whether more than 100 professional/technical people were engaged in producing in Alberta at that time"

Jan 1, 1967

By H. R. Hammond, E. Sadar

Cominco is making substantial savings in secondary breaking by replacing dynamite with a new nitrate-based explosive. Compareo with dynamite. the new explosive, known locally as "Fine NCN," is significantly cheaper, more effective and safer to use. It also works better than prilled NCN, which is unsatisfactory for secondary blasting because of inadequate sensitivity, low strength and awkward handling properties. A simple apparatus has been devised for pulverizing prilled NCN to a fineness practical for effective secondary breaking. Blasting systems using cheap detonating cord for initiation have been developed.

Jan 1, 1966

By C. W. Drury

It is practically fifteen years since stellite was first introduced into industry, and since then the progress made in its manufacture has been so rapid and the number of successful applications so varied that it was considered a review of the more important phases would be of general interest. Stellite is a cobalt-chromium-tungsten alloy, containing approximately 2. 75 per cent carbon. The high percentage of carbon is necessary for the requisite hardness and resistance to wear at ordinary temperatures, whereas the tungsten is essential to impart hardness at a red heat. Chromium imparts hardness and strength, and cobalt renders the alloys more resistant to oxidation. The metals cobalt and chromium are completely soluble in all proportions, both in the liquid and solid state, the equilibrium diagram showing a minimum in the solubility curve at approximately 50 per cent cobalt and l,340°C. Cobalt and tungsten are completely soluble up to 40 per cent tungsten, which is beyond the limit of the; tungsten content of stellite alloys. In the presence of carbon, carbides are formed, which are essential in stellite possessing good cutting or wearing properties.

Jan 1, 1930

By J. E. Gillespie

Introduction Mineral wool may be defined as "rock, slag, or glass fibres made by a process of melting and blowing by steam or air, containing a minimum of oil and unfiberized material" (U.S. Bureau of Standards CS 117-44). The earliest production of the material was in Wales, about one hundred years ago. In the United States, the industry daces from 1870 when a plant, using slag as raw material, was established in Greenfield, New Jersey. It was not until 1897, however, that large-scale production was commenced on this continent at a plant in Alexandria, Indiana, which utilized rock from nearby deposits. Today, mineral wool is manufactured in many parts of the United States and Canada, the plants for the most part being in close proximity to deposits of suitable rock or to sources of slag. In the United States there are some seventy-five producers with a total annual capacity of nearly one million tons of wool. In Canada, in 1946, eleven manufacturers produced about fifty million square feet of batt-type mineral wool insulation material. Mineral wool is, perhaps, the most efficient of all heat-insulating materials and, moreover, it is fireproof, extremely durable, and insect- proof. Its high efficiency is due to the very low thermal conductivity of the fibres themselves and to the fact that the produce as marketed contains up to 90 per cent non-conducting air space. Depending on the degree of compression of the fibres in the manufactured product, the specific gravity ranges from 2 lb. to 10 lb. per cubic foot. Products Marketed Following are the principal forms in which mineral wool is marketed: Blanket. - Mineral wool with or without reinforcing on one or both sides, with various types of confining media, all suitably bound together.

Jan 1, 1948

By H. B. Gillis

THE following pages c9ntain a brief description of the processes involved in the manufacture of silica brick at the Sydney plant of the Dominion Steel & Coal Corporation. Silica brick manufacture was commenced at Sydney in 1918, for the purpose of supplying the requirements of the steel plant, where about three million silica bricks were used annually. Previous to that date, all silica refractories were brought to Sydney from American sources and were subject to a freight cost of nine dollars per ton, or about twenty-seven dollars per thousand. As a preliminary step to manufacture, a thorough investigation of all possible sources of silica in the vicinity of Sydney was carried on during 1916 and 1917. ?Eighteen separate deposits were examined. Of this number, only four were found suitable for brick making, and the Leitches Creek silica, being the nearest of these four deposits to Sydney, was selected as the raw material for the proposed plant. CRYSTAL MODIFICATIONS OF SILICA A brief review of the silica minerals may serve to indicate why careful investigation of sources of supply is necessary before actual brick-making is attempted. The crystal modifications of silica, i.e., quartz, tridymite, and cristobalite, all possessing alpha and beta phases, play a most important part in determining the suitability or otherwise of the resulting brick. By heat treatment, any one of these forms of silica may be converted to either of the others. The inversion temperatures (after Fenner) in degrees Centigrade are shown on rage 160.

Jan 1, 1938

By C. M. Anson

This paper describes the progresses used in the manufacture of steel wheel-centres, tyres and axles at the works of the Commonwealth Steel Products Co., Newcastle, N.S.W., Australia. The plant is adjacent to the Northern railway and consists of three main buildings, namely: the foundry, the forging and rolling shop, and the machine shop. The foundry contains a 6-ton Heroult electric furnace, together with all necessary mechanical appliances for moulding. Reheating furnaces, steam hammers and tyre rolling mill are installed in the forging shop. The machine shop contains lathes, boring machines, and hydraulic presses. Until this plant commenced operations all wheels used in Australia were imported, previ.ous to the war, from England and Germany, and latterly from England only. Besides being of great benefit to the country in that there is now a domestic source of supply of these articles, there is also the advantage of retaining the home market; and in addition, a small portion of the population are now engaged in highly technical occupations requiring a great degree of skill. The plant began to operate in October 1919, and by 1921 was in a fair way to meet the domestic demand for those articles of railroad equipment which it manufactures.

Jan 1, 1925

By T. G. Ewart

INTRODUCTION FOR THE purpose of this paper, western bituminous coal is defined as steam coal produced in Alberta and southeastern British Columbia for sale primarily to railways and industries. Before examining present and future markets of this industry, it is proper to review briefly financial and operating conditions within the industry. The report of the Royal Commission on Coal, 1946, supplies financial data from which some conclusions may be drawn. In 1944, the industry as defined above had share capital of $24,886,696. In the fifteen years 1930 to 1944, inclusive, the industry produced: 44,364,211 tons of coal. The profit on this tonnage amounted to $4,678,382.58, which represented 10.6 cents per ton of production. Miscellaneous earnings increased the amount available for dividends to shareholders to a total of $8,487,952.41, which is equal to, 19.1 cents per ton of production. Dividends actually paid in this fifteen-year period amounted to $12,332,040.64, which represented an annual average rate of 3.40 per cent on share capital. It is worthy of note that, in 1944, the net current position of the industry, including investments, was $8,753,874.51. The writer believes that the financial position of the industry with respect to capital, current financial position, and net earnings, has not significantly changed from the fifteen-year period out-lined above. The figures quoted indicate the following situation: (1) The western bituminous coal industry is adequately financed. (2) The industry has followed a conservative dividend policy and has accrued funds for contingencies. (3) The industry has sold its production at very reasonable prices as evidenced by its moderate earnings per ton of production.

Jan 1, 1951