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By Turgut Yalcin

"High-grade concentrates are achieved in flotation columns primarily due to the use of thick froth layers and wash water, both of which facilitate the drainage of hydrophilic minerals from the froth. However, conventional columns employ tall, non-agitated recovery sections for bubble-particle attachment that require high headroom and special gas spargers as well as imposing particle size limitations. These disadvantages can be all alleviated by carrying out the recovery part of the process in a mechanical or pneumatic cell which generate froth more conveniently and efficiently.This paper describes the combining of mechanical and column flotation in a single unit and discusses the influence of various parameters on the performance of the system.INTRODUCTIONIn a flotation process, some of the minerals lifted up to the froth phase may drain back to the pulp due to various reasons such as weak attachment of particles to air bubbles, bursting of air bubbles, agitation of froth, etc. Weakly floating and entrained hydrophilic minerals drain at a faster rate than the strongly floating minerals, and effective exploitation of such differential drainage can lead to cleaner concentrates.For a given mineral, if the rate of flotation from pulp to froth is k1 (min·1) and the rate of drainage from froth to pulp is k2 (min""1), then the net (overall) flotation rate of the mineral, k (min-1 ), will be [Lynch et al., 1981 ]:"

Jan 1, 1997

By Xu Wang, Yizhe Zhang, Yangge Zhu, Xiao’ou Xia, Fangming Liu

"The progress of lean magnetite preconcentration in China was introduced in this paper, such as using coarse crushing to reject tailings, and multistage grinding, multistage magnetic separation. The applications of “more crushing and less grinding” process and equipment in lean magnetite preconcentration could reduce production costs effectively. The related analysis and study on concrete cases were carried out in this paper.INTRODUCTIONIn the case of the slowdown and weak recovery in the global economy, bulk commodity prices fell sharply in 2015. Take iron ore's prices for example, about 60% grade iron ore's import prices in China from about $65 per ton at the beginning of 2015 fell to about $42 per ton in the end of the year, down by about 35%. But iron ore resources are non-renewable resources, with the continuous development and utilization of mineral resources, high grade iron ore resources will be exhausted gradually. Accompanying with the economic recovery iron ore prices after this fall is bound to return to its value to maintain a high level.The development and utilization of resources is gradually turning to the low grade iron ore. Restricted by technical development level and disadvantages of lean iron ore resources, the cost of utilization lean iron ore resources is relatively high. Making full use of their rich lean ore resources has become many countries' important strategy to get rid of dependence on foreign countries' ore. Over the years with the development and progress of lean magnetite mineral processing technology in China, the production number of concentrator has been greatly improved.As the world's largest steel producer and consumer countries, ensuring a stable and continuous supply of iron ore is particularly important for the healthy development of China's iron and steel industry. Chinese iron ore production and import data in recent years are showed in Table 1.With the expansion of iron and steel production, iron ore demand has also been a phenomenal growth. Taking 2013 for example, China's crude steel production is about 780 million tons in 2013, accounting for about half of the world's total output of crude steel. At the same time, China is also the first major iron ore import countries whose iron ore imports in 2013 was about 820 million tons, an increase of about 10%. The degree of external dependence is very high. In some years, the cost of China's iron ore imports was even more than $100 billion, and second only to oil’s import cost in all bulk commodities."

Jan 1, 2016

By James D. Hall

THIS essay deals with the materials and methods used in the waste filling of scopes in Canadian mines, with especial reference co the methods used at the Sullivan mine, Kimberley, B.C. The author would like to thank members of the staff of the Sullivan mine for information obtained, and acknowledges material from the following publications: Waste Filling of Stopes: Information Circular 6816, U.S. Bureau of Mines. Mining Methods and Practices at Lake Shore, by Leslie S. Weldon; Trans., C.I.M. & M., Vol. XXXIX, 1936, pp. 142-202. Development and Mining (at the Mcintyre Mine), by D. E. Keeley; Eng. & Min. Journal, November, 1933. INTRODUCTION Although mining in Canada is a relatively youthful industry, many of our mines have reached a stage of extraction which requires waste filling, both as a means of support and co make possible the winning of ore that would otherwise have co be left in the mine. Fill may be used at regular intervals as one of the cycle of operations, as in cur-and-fill and square-set scoping; or it may be introduced into a completed stope co provide permanent support for overlying rock formations, and co permit mining of pillars of valuable ore. Waste fill is sorted in resuing, which is a form of cut-and-fill scoping employed in narrow veins.

Jan 1, 1937

By W. R. Tyson

IT HAS BEEN KNOWN for many years that alloy steels can become brittle when tempered in the range of 350-600°C, or cooled slowly after heating to higher temperatures. The metallurgical literature reveals that blacksmiths were aware as early as 1883 that water quenching was necessary after heat treatment above 600°C to avoid brittleness. It has also been known for years that the problem is associated with trace impurities; a paper in the Journal of the Iron and Steel Institute of 1894 refers to the brittle, faceted fractures that occur in steels containing arsenic, phosphorus or sulphur. However, definitive investigation of the mechanism of embrittlement has been possible only within the last decade with the introduction of new experimental techniques to investigate surfaces, especially Auger electron spectroscopy. It is now possible to study in detail the chemistry of surfaces with a resolution of an atomic layer or two, and enormous progress has been made recently in studying the segregation of impurities to grain boundaries by exposing the boundaries by fracture inside the microscope. A clear picture of the processes occurring and their interpretation is now emerging, as was particularly clear at the recent 1977 ASM Materials Science Seminar on Interfacial Segregation held in Chicago in October. Recent research in this area has pointed the way for commercial exploitation of this new knowledge and experimental technology. It is the purpose of this article to trace progress in understanding temper embrittlement and to indicate other areas where control of interfacial segregation and its effects can be important in metallurgical applications.

Jan 1, 1978

By J S. Kermeen

This paper deals with drilling and blasting techniques at the Phoenix mine, near Grand F1nks, B.C., which is now operated by The Granby Mining Company Ltd. The difficulties of open-pit mining through former underground workings are unique to this operation. Rock types are related to drilling conditions, and the methods used, or contemplated, to overcome the several difficulties are outlined. The equipment used is also mentioned. Finally, blasting techniques and costs are reviewed. Introduction T HE Granby Mining Company operates on open-pit copper mine and concentrator at the site of the original Phoenix mine, near Grand Forks in south-central British Columbia. The pit is a side-hill cut measuring approximately 1,000 by 2,000 ft., and covering a vertical range of from 4,550 to 4,950 feet above sea level. The mill is currently operating at 1,900 tons per day. A 4.5 to 1.0 waste to ore ratio necessitates the removal of some 15,000 tons of ore and waste per working day. Mining conditions at Phoenix are extraordinary in that all the ore zones currently being

Jan 1, 1965

By David Estrella, Hector M. Lizama, Jhonny Carrión

"Microcel™ sparging systems were installed on one column of the molybdenum cleaner circuit and one column of the copper first cleaner circuit at Antamina. The Microcel™ system is known to generate finer bubbles than jetting-type spargers, and smaller bubbles have been associated with higher recoveries in flotation. Alternating tests were carried out on the molybdenum column, using either jetting-type spargers or the Microcel™ system. Experimental conditions of gas flow rate, wash water rate, and froth depth were tested. Use of Microcel™ decreased the bubble sizes from 2.6-2.9 mm to 1.5-2.0 mm. In addition, Microcel™ improved both unit molybdenum recovery and unit molybdenum concentrate grade. In the copper first cleaner circuit, side by side tests were carried out that compared the Microcel™ column with a parallel columns fitted with jetting-type spargers. Best results were obtained at manifold pressures of 260-290 kPa, where bubble sizes of 1.6-2.6 mm were observed. In either copper or molybdenum flotation, the Microcel™ system required only 50-60% of the gas flow used by jetting-type spargers.INTRODUCTIONAntamina is a copper-zinc mine located in the Peruvian Andes. Compañía Minera Antamina is owned by BHP Billiton (33.75%), Xstrata (33.75%), Teck Cominco (22.5%), and Mitsubishi (10%). The mine was commissioned in 2001 with a capital investment of US$2.3 billion, and has a nominal 100,000 t/d mill capacity. Mining, milling, flotation, and tailings impoundment take place at the mine site, which sits at an altitude of 4,300 m above sea level. The deposit is a polymetallic skarn ore body with intrusive phases of quartz-monzonite porphyry into Cretaceous aged limestone [Evans et al, 2005]. Ore body thickness is 100 to 150 m and has the shape of a flat-lying crescent. Copper is present mainly as chalcopyrite with a minor bornite component. Zinc is present as sphalerite. Molybdenum is present as molybdenite. Some lead, bismuth, and silver are associated with the sulphides. The deposit is currently classified into six main ore types [Dechert, 2006], grouped into two categories: copper and copper-zinc. The mill produces four concentrate types: copper, molybdenum, zinc, and lead-bismuth. Copper, zinc, and lead-bismuth concentrates are transported by pipeline down to the port of Huarmey. Molybdenum concentrates are bagged and trucked to port."

Jan 1, 2008

"RÉSUMÉOn discute les principales sources de dilution au cours d’une exploitation souterraine. Les différentes définitions de la dilution en usage sont analysées. Une nouvelle méthodologie de calcul simplifiée et facile à utiliser dans la pratique minière est présentée. Cette méthodologie permet de remplacer les différentes expressions analytiques en usage par les deux facteurs de dilution seulement : un «facteur de dilution planifiée» lié à la sélectivité d’abattage au niveau de la planification minière et un «facteur de dilution additionnelle » permettant de juger de l’efficacité du contrôle de terrain et de la dilution pendant l’exploitation souterraine. L’application de cette méthodologie donnerait un outil nécessaire aux niveaux de la planification, du suivi des travaux d’exploitation et d’éventuelles études comparatives des coûts entre les différentes situations minières.ABSTRACTThe principal sources of dilution during underground evaluation and mining are discussed, then definitions of ore dilution currently in use are analyzed. These definitions vary depending on the authors. A new ore dilution evaluation methodology is proposed, replacing the ten different analytical expressions by only two: the planned dilution factor related to the stoping selectivity, done at the mine planning level, and the additional dilution factor related to the efficiency of the dilution control measures during stoping operations. The conclusion shows that the use of this methodology would be a definitive asset in planning, in stoping operations follow-up, and in future costs comparison studies between mining operations."

Jan 1, 2001

By Apoorva Bajaj

Iron ore mines of Steel Authority of India Limited (SAIL) have to comply with strict chemical composition norms laid down for iron ore lumps supplied to its steel plants. This requires a careful planning of the overall ore excavation operation. In general terms, the problem can be stated as: Given the chemical composition of ore for all excavation sites, excavation capacity of each shovel, distance of each excavation site from the crushing plant and the number of dumpers available for transport of the ore, find out the percentage of ore to be excavated from each excavation site such that the production rate is maximized and the chemical composition norm is satisfied to the best possible extent. This paper presents an approach to solve this problem using Branch and Bound method. The specification for r.o.m. quality has been modified by incorporating a new parameter, ?Al2O3 / SiO2? ratio, which has a significant effect on the performance of iron blast furnace.

Oct 1, 2009

By M. Loan

The Zinifex's Hobart Smelter uses the paragoethite process to remove dissolved Fe(III) from concentrated zinc leach liquors. This produces a residue consisting primarily of 6-line ferrihydrite (a hydrated Fe(III) oxyhydroxide), several insoluble components derived from the calcined zinc concentrate neutralization agent and other precipitated phases, such as jarosite and silica. The precipitation of 6-line ferrihydrite in the paragoethite process was studied using a laboratory-scale continuous crystallizer, and the conditions were selected to limit high levels of dissolved silica and jarosite. This approach allowed the reactor pH and the rate of precipitation to be correlated with residue solid-liquid separation, particle size, morphology, residual zinc and sulfate concentrations, and phase formation (e.g., goethite, jarosite, schwertmannite, and 2- and 6-line ferrihydrite). These studies delineated the mechanism of 6-line ferrihydrite precipitation in the kinetically controlled paragoethite process, and its inter-relationship with goethite and jarosite precipitation under conditions where 6-line ferrihydrite is favoured. Unexpectedly, the generation of a more crystalline goethite precipitate with larger "primary" particle size did not produce a residue of improved properties, as bulk aggregates dictate the physical properties of the residue and not the crystallinity. Furthermore, it is difficult to precipitate 2-line ferrihydrite or schwertmannite under existing paragoethite process conditions.

Jan 1, 2006

By T. Nagasaka, T. Miki

Suppression of CO2 and waste such as slags discharged from iron- and steelmaking processes are some of the typical major issues for the protection of global environment and sustainable growth of steelmaking industry. Utilization of active phytoplankton growth will be one of the best options to stabilize and suppress carbon dioxide at high-efficiency. Inorganic minerals such as C, 0, N, Si, P and Fe are necessary for phytoplankton multiplication. It is crucial for supply of nutrition into seawater effectively for phytoplankton multiplication to understand the dissolution behavior of some elements from steelmaking slags into seawater. The morphology of the precipitated phases in steelmaking slags during cooling period was investigated in the present work. The dissolution behavior of some elements from steelmaking slags into artificial seawater has also been studied. The effect of nutrient dissolved into seawater on phytoplankton multiplication, some examples of marine structure made from steelmaking slag, and estimation of CO2 fixation amount by marine phytoplankton are also discussed.

Jan 1, 2004

By A. G. Doll

The Bond low energy impact (crushing) work index test is specified to be performed on rock specimens between 50 mm and 75 mm in effective diameter. NQ-diameter drill core, frequently used in mineral exploration programs does not meet that specification, it being 45 mm diameter or less. This paper reports the effect of performing the impact test on contiguous sections of HQ diameter and NQ diameter core, exploring the hypothesis that the contiguous intervals give equivalent results in spite of the core diameter difference.

Jan 1, 2012

By A. Vervoort

The concepts of geostatistics are commonly difficult to understand for students, even for those with a strong mathematical background. A main problem is certainly the link between the variation of the parameter value in space or time, and the calculated experimental semivariogram as a function of the interdistance, but over the entire area. Another problem is to differentiate between directional and omnidirectional semivariograms and the way they have to be interpreted. Furthermore first time users of geostatistics often do not want to struggle through different books with the whole geostatistical background before using it. Too often this leads to using geostatistics as a black box with all the risks linked to it. That is the main reason that we developed some interactive tools based on the free public domain software R. We aim by developing three different modules to assist individual first time users, but also regular students and teachers to get a feeling of the importance of the various aspects in conducting a good geostatistical study. The modules show directly e.g. the impact of deleting, moving or adding data points, of changing parameters of the semivariogram model and of the geometrical parameters during kriging. The first module allows making the link between the variation of the parameter values in one direction and the calculated experimental semivariogram, and this for different given datasets. The second module covers two dimensional datasets and apart from calculating the semivariogram values, models can be fitted to the calculated data. A distinction can be made between omni-directional and directional semivariograms, including the effect of the tolerance on the angle and lag-distance. The third module focuses on ordinary kriging of point values in two dimensions. The aim of the interactive tools developed is limited to educational purposes only, i.e. to visualize some basic concepts for different pre-selected types of spatial variation. They do not intend to do a geostatistical study on a certain dataset (for this purpose there exists already a broad spectrum of good software packages). The original intention of developing the three modules was aimed at users with no or a limited amount of geostatistical experience. However, these modules seem also very useful to remain critical for experienced users. One should never forget that in a real application one does not have a complete view of the phenomenon studied. The geostatistical interactive modules can be accessed through: www.bwk.kuleuven.be/geostatistics . We compiled a manual to facilitate the use of the modules and to guide the user we formulated several questions to be solved for each module.

Aug 1, 2013

By D. Bronkhorst, J. Rheault

"Backfill practices at the Williams mine have evolved significantly since underground mining began in 1986. The use of conveyors as a means of transporting fill material to stopes has been discontinued in favour of load-haul-dump equipment. The method of adding binder to the fill product has been refined along with the placement technique. Slurry preparation has been fully automated and flyash is now included as a binding agent. Surface preparation of the fill product has evolved substantially with the quarry operation coming into full operation and the construction of pennanent crushing, screening, and storage facilities. Company personnel have replaced all contracted labour involved in backfill operations. Some changes have been made to achieve a higher standard of quality control while others were implemented as a matter of cost reduction. BackgroundThe Williams mine is one of three mines operating at the Hernlo gold deposit, located 40 km east of Marathon, Ontario, along the north shore of Lake Superior. Daily production at the mine is 6000 Ud yielding an annual gold production of approximately 500 000 oz. The orebody extends from surface to a depth of 1300 m dipping north at 70 degrees. The average orebody width is 25 m, but varies from 45 m on the eastern boundary to about 10 m at the western probable limit and at depth. Proven and probable reserves currently stand at 32 million tonnes grading 6 g/t.The Williams orebody has been divided into four separate mining zones: the A-zone, the West-of-Dyke zone, the B-zone, and the C-zone (Fig 1). Ore production originally was from the A-zone open pit operation while the A-zone and B-zone underground workings were being developed. The mining method employed underground is blasthole open stoping with delayed rockfill. Mining block dimensions are nominally 20 m along strike by 25 m high. Stope extraction is sequenced to achieve a relatively short pillar life and 100010 ore recovery. Pillars are extracted as soon as the adjacent primary stopes are two cycles ahead. Primary stopes are filled with consolidated rock fill after mining. This allows pillars to be blasted right against the consolidated fill, but also requires that the fill be self supporting to a height of 30 m.The Williams mine places approximately 1.4 million tonnes of rockfill and 50 000 tonnes of binding agents each year, with about three quarters of the fill placed being consolidated. The consolidated fill placed at the Williams mine contains Portland cement and flyash as binding agents."

Jan 1, 1994

By T. R. Stanley

Introduction The purpose of this paper is to interest mining men in the economic possibilities of sand deposits suitable for modern foundry work. Many members of the profession are constantly travelling over the country and it is felt that some knowledge of the necessary properties of foundry sands will enable these men t0 recognize such deposits. It is the experience of the writer that good sands suitable for the varied work of a foundry, such as that of the Consolidated Mining and Smelting Company, at Trail, are almost impossible to obtain from western Canadian sources. It is hoped that the following discussion may arouse some interest in the search for such sands. Sands are used in foundries for two purposes. The main use is for making moulds suitable for receiving hot metal. The mould must retain the? required shape until the metal has solidified. The second use of sand in the foundry is as an abrasive in sand blasting. This is a relatively minor use, and consequently will not be dealt with in detail. Any coarse sand with a high content of quartz will serve this purpose, but round-grained sands are superior to angular types, because they have not the same tendency to shatter on impact with the casting. Sand plays an extremely important part in the successful production of sound castings. This is more evident today than ever before, due to the greater variety of castings and alloys, each of which requires special sand characteristics. Poor sand is responsible for a great many foundry troubles which formerly were attributed to bad? metal; in fact, one investigator goes so far as to say that ninety per cent of bad castings can be traced directly to the sand. Very little of the vast amount of sand distributed over the earth's surface is suitable for moulding. It is the purpose of this paper to describe briefly the properties which are essential in good moulding sand. Sand for this work must be able to withstand the wash and hydrostatic pressure of molten metal, and yet be sufficiently porous to allow the gases generated in the mould to escape.

Jan 1, 1935

By Erik Richer La Fleche

LEGAL RISKS LEGAL RISKS ARE COUNTRY RATHER THAN PROJECT RISKS OTHER COUNTRY RISKS ARE POLITICAL AND MACRO-ECONOMIC RISKS COUNTRY RISKS ARE EXAMINED AFTER PROJECT RISKS COUNTRY RISKS COUNTRY RISKS INCLUDE: WAR AND ARMED CONFLICT TERRORISM AND SABOTAGE CURRENCY INCONVERTIBILTY AND TRANSFER NATIONALIZATION AND CREEPING EXPROPRIATION GOVERNMENTAL BREACH AND REPUDIATION OF CONTRACT CHANGE OF GOVERNMENT CORRUPTION COUNTRY RISKS FIRST NATIONS AND LANDOWNER CLAIMS LABOUR UNREST SINGLE CAUSE ACTIVISTS REGULATORY AND BUREAUCRATIC DELAYS CONFLICT BETWEEN GOVERNMENT LEVELS ETHIC AND RELIGIOUS TENSIONS INTERNATIONAL SANCTIONS TAXATION CHANGES CHANGES IN LAW

May 1, 2013

By M. E. Bilir

In this paper, we review cases in which dramatic and visual swelling problems are experienced in underground structures. Swelling rocks have caused many problems in underground engineering projects. They pose severe problems to the design, construction and maintenance of underground openings. If an appropriate integrated design procedure, which proceeds from exploration, tests, analyses and realistic assumptions of swelling behavior, is used during the design stage, the execution of the project can be completed without any serious delays or dramatic design changes. The case histories were subdivided into three classes that include tunnels, underground coal mines and others. For the evaluation of cases, the surrounding rocks, swelling minerals, water inflow, swelling test results and swelling problems were considered. The main purpose of this review is to inform the reader about potential problems with swelling phenomenon and to emphasize the rehabilitation and extensive cost which are encountered due to the lack of necessary integrated design approaches.

Aug 1, 2013

By Atsushi Sainoki

Blast vibration induced by mining activities, such as stope production blasts, could lead to the initiation of seismic events that inflict damage to mine openings. In this paper, the effect of stope production blasts on nearby fault is examined. First, validation of blast vibration attenuation is performed with a numerical model representing a single blast hole through comparison with that calculated from charge-weight scaling law derived from in-situ data. Subsequently, a mine-wide scale model with a fault parallel to a steeply dipping, tabular ore deposit that is mined out with sublevel stoping method is generated, and the stopes are extracted and backfilled with static analysis to simulate burst-prone conditions on the fault. Based on the stress states, dynamic analysis is performed, in which blast vibration is applied to grid points on a stope wall on the hanging wall side. This assumes 9 blast holes located close to the wall, and blast-induced particle velocities that consider the positional relationships between the assumed blast holes and the stope wall are applied. During the dynamic analysis, blast sequence is considered, and stress states and shear displacement on the faults are examined. It is found from results that, after a rise in normal stress on the fault due to compressive waves induced by the blasts, the normal stress decreases because of the reflection of the compressive waves on the fault. The reduction in the normal stress due to the reflected waves is found to be large enough to cause the fault to slip. The results also show that the level of normal stress eventually keeps decreasing with time as the blast sequence proceeds and that an increase in shear displacement on the fault is accompanied by a decrease in normal stress. This study clarifies the mechanism by which blast vibration causes the fault to slip. In addition, the simulation technique to apply blast vibration that takes into account blast sequence and the locations of blast holes to a stope wall is developed.

Aug 1, 2013

By L. Contretras

This study has as an objective to analyze and to propose actions to improve the quantity and quality of the graduate education in the area of mining industry, specifically of mining engineers, metallurgists, geologists, to satisfy the expectations of professionals in the mining industry. Included are an analysis of the present scenario and the future demands in countries like Chile and proposed plans for the Establishment of Educational Initiatives, country policies and market forecast, vis-a-vis the experience of Australia, South Africa, United Kingdom, Canada and the United States of America.

Jan 1, 2007

By Kamran Esmaieli

Open Pit Mining Through Underground Voids: Challenges Main Challenges/Hazards: Unexpected collapse of the pit floor and/or pit walls; The loss of equipment and/or people into underground voids; Loss of explosives from blast holes that broken through into the underground voids. How to address these challenges? An important step that must be integrated into mine planning and design is the accurate detection and delineation of underground voids. (i.e. probe drilling, Geophysical techniques, laser scanning,?); Leaving a pillar of adequate thickness between the working bench and the underground voids; Backfilling the underground voids from surface using vertical or inclined raises; Monitoring the working locations (pit floor and pit slopes) to detect movements.

May 1, 2013

By R. H. Watson

A paper read by J. A. H. Church before the Northern Alberta Branch last February described a method of working thick inclined coal-seams from the dip upwards, with the view to preventing fire risk by using water for the stowage of waste workings, and extinguishing a conflagration should such break out, was favorably received; but there was some doubt as to the cost of such a method, as it involves a retreating system, which might prove too expensive for practical adoption. Let us consider a typical leasehold such as we are familiar with in the Rocky Mountains. The leasehold is crossed at one end by a mountain river, which is cut by the outcrop of a seam of coal, 30 feet in thickness, pitching as shown on the drawing herewith, which also shows the general line of the outcrop in elevation through the leasehold, which is two and a half miles long and contains 1,500 acres. The average lift is about 600 feet above river level and drilling has proved that the coalseam can be tapped at a depth of 1,500 feet, 2,000 feet down the pitch from the outcrop in the river, all as shown in the illustration, which is typical enough of our mountain conditions to serve the purposes of comparison of methods. We take up the leasehold and invest $30,000 to pay for drilling and prospecting; $30,000 more for the price of the lease to locator or holder, and say $100,000 to pay for a railway spur (it might cost twice this sum, but we are only comparing two methods in the same location) and "now we are ready to consider equipment and the cost of development.

Jan 1, 1924