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By Bruce A. McKinstry

For many major mining projects the time frame from initial planning to production can be measured in terms of decades. Hecla's Silver Shaft project, which is scheduled to go into production by the end of this year and includes a complete surface facility, shaft with an ultimate depth of 2,348 meters (7,700 feet), complete ore pass and loading pocket system, and 610 meters (2,000 feet) of development drifting and stope preparation, was initially concieved in the Fall of 1979. This duration of a mere four years from conceptual engineering to production is a testimonial to what can be accomplished when a progressive mining company and an innovative contractor work together as a team rather than developing into two warring camps as often happens.

Jan 1, 1983

By R. Sandefur

Recent advances in personal computer technology allow movies of various types to be made and displayed on PC and Macintosh computers. An interesting application of this movie technology is animation of computerized geological models. These movies, which can be most easily constructed along rows, columns, and benches of block models, allow an ore body to be more easily and quickly visualized than the traditional method of flipping back and forth through various sections.

Jan 1, 1994

By Rossen Halatchev

The production sequence optimization of open pit mine is a procedure that reflects the exploitation conditions over life of mine. These conditions are determined by the geological characteristics of the deposit, requirements of the mining and processing technologies and economic parameters of the exploitation. From a technological point of view the production sequence optimization deals with two aspects - spatial and time. Each of them plays a tremendously important role in searching for the optimum solution of the problem. This paper treats the time aspect of the production sequence optimization. This aspect is revealed in the context of the problem of the working zone formation of the open pit mine in time. The problem formulation places an accent on the determination of the theoretically possible time distribution of the waste and ore quantities of each bench of the open pit mine. A mathematical solution to the problem has been developed based on combinatorial analysis. The solution provides a multi-variant investigation of the production sequencing with the use of an optimization model developed as a linear programming formulation. The model objective function uses the Net Present Value as a criterion for assessing the effectiveness of production sequencing. A case study is provided for the conditions of Assarel copper open pit mine (Bulgaria) to illustrate the applicability of the approach. The results obtained reveal the complex nature of the variation of the Net Present Value as a function of the mining factor.

Jan 1, 2002

"The paper treats the spatial aspect of mine sequence optimization. This aspect is revealed in the context of determination of the optimum number of cutbacks of an open pit mine. Cutback mining is a dominating method currently in base\precious metal mining and it is based on a pseudo-economic discretization of the pit space by using advanced pit design algorithms. The result of the implementation of such approach of pit design is the generation of pit shells, which need to be grouped into an optimum number of cutbacks for maximization of the project value. A mathematical solution of this problem is developed with the utilization of a combinatorial analysis. The solution provides a multi-variant investigation of the optimum mine sequence with the implementation of an author’s method for production scheduling optimization, which uses the Net Present Value as a criterion for assessing the economic efficiency of mine sequencing. A case study is provided for the conditions of a hypothetical open pit gold mine to illustrate the applicability of the approach. The results obtained reveal the complex nature of the variation of the Net Present Value as a function of the cutback geometry. INTRODUCTION The mine sequence optimization in open pit mining is a procedure that predetermines the efficiency of the production scheduling optimization. From a technological standpoint, the mine sequence optimization deals with two aspects – spatial and time. Each of them plays a tremendously important role in searching for the optimum solution of the open pit design problem. Original results on the time aspect of mine sequence optimization are published by Halatchev [2002]. They reveal a wide range of the Net Present Value (NPV) variation for a multi-variant arrangement of mine sequence over time and using a fixed geometry of the cutbacks, which determines the economic potential of a single open pit mine from a deterministic standpoint. The results show a range of NPV variation up to 30% depending on the stripping ratio of the mine. The effect of this variation is mainly due to the implementation of the mine planning principle of waste deferment in the scheduling optimization and using all theoretically possible variants of mine sequence arrangement by the inclusion of the bench sequences over the Life-Of-Mine (LOM) in the production process."

Jan 1, 2015

By C. Bazin

The fundamental error associated to the sampling of heterogeneous ore particles is unavoidable and can only be minimized by an adequate selection of the sample mass and/or size reduction of the sample before division into sub samples for testing or assaying. The preparation of ore batches to carry out the mineral processing evaluation of an ore is a sampling process. The fundamental error associated with the division of the ore into batches is responsible for the differences in the composition of the batches. This paper attempts by various means to assess the reproducibility of the gold content of test batches prepared from a gold ore sample. The results of the investigation shows that for fine gold grain sizes the variability in the composition of the batches is less than that predicted by Gy?s formula and that the gold grain size is a strategic information in the assessment of the gold content variability of test batches.

Feb 23, 2014

By J. J. Peshel

As per the current conceptual design presented by the Department of Energy, the exploratory shaft facility (ESF) becomes a part of the repository if the Yucca Mountain site is found suitable for repository development. Therefore, the design of the ESF should be compatible with the performance requirements for the repository. The construction methods selected should limit to the extent practical, the degree and the extent of damage to the surrounding rock mass. The ESF construction and operation should be compatible with the site data gathering activities, such as geological, thermomechanical, hydrological and geochemical testing.

Jan 1, 1991

By James R. Jones

The Surface Mining Control & Reclamation Act is a complex piece of legislation signed into law on August 3, 1977. It is the culmination of more than six years of debate by the Congress over the need for a national regulation of surface mining as opposed to the prior concept of regulation by each concerned state. It departs from the more normal type of law in that it includes very specific requirements, limitations and performance standards. In its procedural aspects, it is somewhat similar to the Clean Air Act and the Water Pollution Control Act in that it places primary responsibility at the state level, provided the state meets minimum national requirements. At the time of writing this paper, in late December 1978, the Interim Regulatory Program has been in effect for seven months. The proposed regulations for the Permanent Program, the draft Environmental Impact Statement, and the draft Regulatory (Economic) Analysis ware available for eight weeks before the close of the comment period on November 27. We are now awaiting issuance of the final versions of these documents. The states in which coal is mined, for the most part, have made sere revision to their state laws and are in the process of revising their regulations, or have just completed the revision, to comply with the Initial Regulatory Procedures. They are now faced with another new major effort to analyze and plan for compliance with the Permanent Regulatory Program, which is expected to be promulgated by the Office of Surface Mining of the Department of Interior by the time this paper is presented.

Jan 1, 1979

By M. A. Bouchat

The Kipushi deposit, where the Prince Leopold Mine has been installed, belongs to Union Miniere du Haut-Katanga and is located in the Belgian Congo, 20 miles SW of Elisabethville, at the vicinity of the Northern Rodhesian Border. The deposit is of the hydrothermal metasomatic vein-type; mineralisation took place, through the limestone of the, lower Kundelungu. This is a special fea¬ture of the deposit, compared to the other copper deposits of the neighbourhood, both in the. Belgian Congo and in Rhodesia. Actually, the primary mineralisation of these other deposits; is directly related to the stratigraphic systems: schistous dolomitic in the Belgian Congo and Roan in Rhodesia. Both facies are older than the Kundelungu and separated from this formation by a tectonic cataclysm. The valuable elements occuring at Kipushi are principally copper; and zinc. The deposit also contains smaller quantities of lead, precious metals and other elements including germanium.

Jan 1, 1960

By D. A. Rice

In pelletizing magnetic iron ore concentrates, about 6 to 18 lb of bentonite binder are added per ton of concentrate during balling to give green and dry strengths to the unfired pellets. The dry bentonite is mixed into the filtercake following the magnetic concentration circuit of the plant. The filtercake contains about 10% moisture, and the water may be of highly variable composition, depending on the particular concentration circuit, its source, and the ore being treated. A knowledge of the parameters that influence the balling operation is essential for optimal efficiency in producing balls strong enough to survive the treatment during transportation from the balling device to the furnace and during the firing operation. Furthermore, very weak unfired pellets probably contribute to high dust losses and poor furnace control. The factors that determine the strength of unfired pellets have received considerable study (1,2,3,4). Tigerschiold and Ilmoni(l) pointed out the significance of the surface area of the particles being pelletized. Merklin and Childs(2) reported on the effect of material size consist, chemical additives such as soda ash, lime, balling time, ball size, and the moisture content of green balls. Iwasaki and Zetterstrom(3) examined the detrimental effects of fatty acids on the pelletizing process. Stone(4) correlated the zeta potential of bentonites with the strength of unfired pellets. He found that, in general, a high negative charge on the bentonite is conducive to good balling. Although studies of pelletizing in the iron ore industry deal with a complex multicomponent system consisting mainly of the iron mineral, bentonite, and water, the last of these has received little attention, particularly with regard to the possible effects of mill water chemistry on the pelletizing process and the strength of unfired pellets. It is widely known that the composition of mill process water is an important variable in unit operations such as flotation, thickening, and filtering and that impure water can lead to poor metallurgical results. The results of the present study indicate that the chemistry of the mill water may be an important variable in the balling operation as well. Knowledge about this variable should contribute to lowering bentonite and oil consumption and to improving furnace performance. Such knowledge can also assist those who use balling in evaluating commercial bentonites for plant use as well as those investigating balling from a more fundamental point of view In this study we have examined 1) the effects of replacing mill process water in the magnetic concentrate filtercake with pure water, and 2) the effects of several chemical impurities that are commonly found in mill process waters upon the strength of unfired pellets. The results are interpreted in terms of the zeta potential of the bentonite and magnetite particles. The data lend support to a suggested mechanism whereby the electrostatic attraction of oppositely charged particle surfaces causes bentonite-bentonite and magnetite-bentonite bonding. This mechanism would also explain why several chemical additives e.g., sodium carbonates and phosphates, have such marked effects on increasing the strength of unfired pellets.

Jan 1, 1971

By Andrzej Frycz

The development of the theory of reliability creates more and more possibilities of its application in different domains of technics. The methods evolved to date, both theoretical analysis of the engineering systems and investigations techniques in practice can be put in use a d translated from one science to another one [1,3,7J . It needs to consider the specific of the different sciences. But it is necessary to take account of the specific characteristic of each line of science. The reliability investigations needs, justified in technical and economical viewpoint appear too in mine ventilation technics and systems. The mine ventilation system is a complex of workings and ventilation plants, which serve to supply the networks with a sufficient quantity of fresh air from the atmosphere and then carry off the vitiated air. The condition necessary for a ventilation system to perform definite task is the correctness of all its elements, that is a capability to preserve in a expected range of tolerance, the values of basic parameters. The element of a system which ceases to work correctly is called failed. The basic parameter of all elements of a ventilation system is the characteristic curve, pressure loss - air quantity relation ?p = f(Q) (1) This curve concerning the workings and ventilation stoppings is given by the formula: ?p = R Q2 (2) thus the resistance R (of the workings or stoppings) may be taken as a characteristic parameter. The course of this characteristic f(Q) will be given in a complex form in concern with fans, ejectors, air curtains. The failure of a ventilation plant or working is therefore an event, relying on a change of its characteristic, thus for a definite time the losses of the plant's or working's capability set in for the fulfilment of its function in the ventilation system. The failures are divided in viewpoint of their nature on sudden and progressive. We are in concern with the sudden failures which are characterised by a violent change of the ventilation element parameter for example a fall of roof, or silt up of the working, opening or failure of the ventilation stopping, the stand-off of the fan or ejector etc. We distinguish two kinds of failures on the viewpoint of their action on the air flow: the "opening" failure and "closure" failure. The prevalence of factors, which causes the failures is in connection with the intersection in the mine of roads of haulage, roads of underground transport of materials and lining elements, roads of people motion with airways, as also depends on the rock pressure reaction on the workings lining and plants placed there. Other factors will yet be decisive upon supply decay of fans, ejectors and curtains. The appearance of failure of the ventilation element is therefore of random nature and determines the change of the element, when it is passing from operating state to unoperate. Qualifying the ventilation system element to one of these states is easy, when the characteristic change is clear and occurs suddenly, that was assumed. The investigations conducted by Patrushev and Karnaukh [91 in concern with the ventilation stoppings resistance change in the case of their opening, had shown the possibility of resistance value change in the range of several hundreds higher.

Jan 1, 1980

By W. E. Crandall

The Star-Morning mine is a. 1000-ton-per-day lead-zinc producer located in the easterly part of the Coeur d'Alene Mining District of North Idaho. The property includes both the Star and Morning mines which are located on the westerly and easterly portions of the same complex of veins. The mine is 70% owned by the Bunker Hill Company (Gulf Resources, Inc.) of Kellogg, Idaho, 30% owned by Hecla Mining Company, and operated by Hecla Mining Company with head-quarters in Wallace, Idaho. One of the characteristics of mines in the Coeur d'Alene District is that many of the ore bodies extend to very great depths. The Star is no exception, but rather a leading example. The complex of near vertical veins and ore shoots extend some 7000 feet below the surface at present, with a maximum strike length of about 4000 feet. Ore has been mined on 20 separate veins and ore structures. More than 50 miles of headings have been driven and nearly 23 million tons of ore mined since the Morning mine started in.189S. The problems of mining at such depths are formidable temperature on the bottom level is 1100 F and high humidity problem. Pressure from the sheer weight of rock is as high foot. This paper will deal with providing a new access to the deeper levels of the mine and the installation of a hoist and related items to service these levels. By the time development had reached the 7100 level (Figure 1), it became apparent that a different 'hoisting system was going to be necessary if we were going to continue to mine at a profit. The main shaft extended to the 4000 level at which point a ?:3100"'foot winze shaft provided access to the 7100 level. The two hoists were limited to handling 3-ton payloads at 1200 to 1500 feet per minute. Some ores are still produced from above the 4000 level but as these ore reserves become depleted the hoisting of the desired tonnage (1000+/day-) from the lower levels of the mine would exceed the capacity of the existing hoisting system. A decision was made to sink a new vertical shaft at a point well in the south wall of the ore bodies where strong rocks and a minimum of faulting was expected and to purchase and install a new hoist capable of hoisting over 7000 feet. This new' shaft, designated as the No. 4 Shaft, was planned to reach 2000 feet below the 7100 level which was the deepest level at that time. The hoist would be in-stalled on the ,main 2000 Adit level which is used as an access and haulage level to the concentrator and surface plant in Burke.

Jan 1, 1971

The process design of a metallurgical plant follows logical steps, one built on another, to define the circuit requirements. The methodology used and documentation produced is the same for a pre-feasibility study, feasibility study or a complete design, regardless of the process complexity or the commodity. The only difference is the amount of detail developed at each stage. SRK Consulting, an independent, international consulting practice that provides focused advice and solutions to clients, mainly from earth and water resource industries, has consulted on many mining projects around the world. The company was formed in 1974 and now employs more than 1,600 professionals in more than 50 offices on six continents. According to SRK experts, the first element in plant design is collecting metallurgical testwork or operating data from an existing plant. The testwork identifies the process, the metallurgical recoveries and product qualities and establishes the process parameters for economic recovery of the commodity. Test samples must represent both the whole orebody and the feed over the life of the mine, showing the mineral?s variability. With this data available, the process design can be developed.

May 1, 2013

By J. A. Mielczarski

An infrared external reflection spectroscopy (ERS) technique has been developed to study the structure of the adsorbed layer of ethyl xanthate formed on copper and natural chalcocite (Cu2S) electrodes. The infrared technique provides information concerning the identity and the orientation of the adsorbed species at monolayer and submonolayer coverages. X-ray photoelectron spectroscopy (XPS) studies have also been conducted to monitor changes at the surface. The results show that the first oxidation peak on the voltammograms for copper and the first and second oxidation peaks on the voltammograms for chalcocite electrodes are not characteristic of a chemisorbed xanthate species, which is contrary to what has been reported by other investigators previously. As evidenced by the XPS spectra, there was an increase in sulfur relative to copper on the copper and chalcocite surfaces over the potential region where these oxidation processes occur. The spectroscopic results (ERS, XPS) indicate that the second and third (on copper) and the third and fourth (on chalcocite) oxidation processes recorded on the voltammograms are due to cuprous ethyl xanthate adsorption. The orientation of the adsorbed molecules of xanthate was observed to change with increasing surface coverage. Therefore, it has been concluded that xanthate can modify the copper and chalcocite surface in two different ways. At lower potentials, xanthate is a source of sulfur for the formation of a sulfur-rich surface. At higher potentials, an adsorption layer of cuprous ethyl xanthate is formed. Contact angle measurements show that both of these processes of xanthate surface modification lead to an increase in the hydrophobicity of the substrates.

Jan 1, 1990

By Barry J. Hansen

Mining can make two major contributions to the cleanup of the environment. The first of these is the extractive technology that has become highly developed as a result of centuries of development. Of equal impor­tance are the methodology of analysis and the development of engineering solutions that are the stock in trade of the mining industry. Despite the differences between the industries, the processes for the development of a mine and the cleanup of a hazardous waste site are similar. The characteristics that impact the ability to develop a suitable process for treating an ore body or correct­ing an environmental problem are those relat­ed to the distribution of the contaminant or metal in the host material.

Jan 1, 1991

By Steve Zaffron, Olga Loffredi, Eric Seedorff, Mary Poulton

"The New Face of Mining is a recognition of the central role of human beings in mining and the underappreciated power they can have in generating breakthroughs in business performance and shareholder value. The key is people creating, aligning on, and subsequently enacting the future of mining. A methodology that is effective creates a corporate environment for alignment to be possible and then transforms operations by embedding the necessary behaviors, processes and practices. The people within the organization then are empowered to find and to implement solutions quickly, as measured business results demonstrate in case histories of diverse mining challenges around the globe and over the decades.Urgent case for actionThe physics of mining does not change fundamentally over time, but the context in which it operates changes rapidly, periodically requiring a new face of mining. “The New Face of Mining,” which has been used as a metaphor for the campus-wide mineral resources research organization at the University of Arizona, has many facets, including societal, generational, technological, financial and environmental, but at the center, always, is humanity. The New Face of Mining is not necessarily about age, it is about people first imagining and then creating a new future for mining. The challenges facing the global industry evolve from year to year and differ in individual companies or mines at any one time.Quantified outcomes from case studies indicate that a methodology, now also offered annually in a four-day, open-enrollment leadership program tailored to the mining industry, is effective at generating breakthrough results in the mining business. Such challenges range from those with important technical components to others that are mostly social challenges. Our focus, however, is the centrality of people in aligning on and enacting the future of mining. We use the phrase New Face of Mining for leadership and ways to empower people in organizations that commonly are overlooked in the mining industry. Some of the material in this article is based on the ideas of Werner Erhard and on the book by Steve Zaffron and Dave Logan (2009), The Three Laws of Performance: Rewriting the Future of Your Organization and Your Life.At Davos, Switzerland in January 1992, nine visionary mining chief executive officers (CEO) gathered to create the Global Mining Initiative. Much has changed in the 26 years since that meeting:• The world GDP has increased from US$25.4 trillion to $75.8 trillion.• The annual number of U.S. patent applications increased from 186,000 to 629,000.• The number of websites has increased from 100 to 1 billion.• The number of academic references to artificial intelligence has climbed from more than 16,000 to more than 1 million.• The number of cell phone subscribers grew from 11 million in the United States to four billion globally."

Oct 1, 2019

By Louis M. Perlman

Quantitative methods are, by now, a standard tool of the mining industry, and are commonly used by Research Departments in their evaluation of production methods and schedules, and their associated costs. Indeed, much sophisticated computer work has been devoted to such evaluation of controllable costs and capital requirements. These data are an important input into the project evaluation formula, which is probably the most important single calculation per formed by a mining company, since the result decides whether a particular project is viable. It is instructive to summarize the broad principles of project evaluation, since they are crucial to the remaining sections of this paper. PROJECT EVALUATION The most widely used method of appraising projects is known as Discounted Cash Flow (DCF) method. Two main variants are used; they are known as the 'not present value' (NPV) approach and the 'internal rate of return' (IRR) approach respectively. The difference between the two is that the former takes the firm's interest rate as given and uses this knowledge to calculate the present value of the project; whereas the latter calculates the highest interest rate the project could tolerate and still just breaks even. The technique is more simply discussed in terms of the first method (NPV).

Jan 1, 1972

By Jack M. Campbell

The regulatory process by which governmental authorities acknowledge and, in turn, permit the location, construction, and operation of large scale energy-related facilities has become extremely detailed in recent years. One example of the detail that is entailed in the regulatory process is the number of permits that must be acquired by operators prior to the construction and operation of energy-related facilities. It has been estimated, for example, that 75 permits are required prior to the opening of a new coal mine in Pennsylvania while 50 are required in Kentucky. From the perspective of facility owners and operators the regulatory process often appears overly complex and may be perceived as a constraint to the corporate decision making process. From the perspective of those responsible for administering regulations, the process is perceived as a mans by which public desires - pursuant to social objectives such as environmental protection and occupational safety - can be achieved. As a result of conflicting organizational interests, the clash between energy facility owners and operators and their regulators appears to be inevitable. Furthermore, the resolution of this conflict lies in the tradeoff between objectives and the costs of regulation. The balance of objectives and costs is a subject of the political process and not a topic of consideration in this paper. This paper is concerned with the actual administration of regulations, that is, the implementation of that which arises from the interplay of organizational interests. The paper assumes that environmental control laws will not likely be repealed, that regulations to implement the intent of these laws are here to stay and thus the paper seeks to assess how regulations are administered at various levels of government pursuant to objectives. The paper hypothesizes that the administration of objectives (or policy) has an impact on decision making which affects energy facility decision; making while recognizing the fact that regulatory policy cannot be totally divorced from administration, this paper proceeds

Jan 1, 1977

By J. Liniecki, w. Chruscielewski, T. Domanski

INTRODUCTION Mining is the Polish greatest industry employing about 350 thousand miners in more than a hundred underground mines. The mining regions are located mainly in the south of the country - see Fig. 1. [ ] The coal mining dominates, however, and the zinc-lead and copper-ore mines presently employ about 16000 miners. All these mines are rather deep and wet. Their drawing shafts are between a hundred to more then thousand meters deep. The cross-adit of working area of mines ranges from several kilometers to a few tens of kilometers. The numbers of mines per mine differ also considerably and depend on the territory and type of mines. The largest coal mines employ about ten thousand miners but the largest metal ore mines do not employ more than four thousand miners. In all the mines the electric motors or diesel engines are being used. The intensity of mine ventilation, characterized by the volume of fresh air injected in to the main ventilating shaft per miner and per unit of the power consumed by the engines is about 6 cubic meters per minute per man and per horsepower. The studies of the potential alpha energy of radon daughter products /RnDP/ could be divided into the three developmental stages: I-st - stage /1966-1970/ the stage of so called Pilot Survey. During this stage concentration of potential alpha energy of RnDP in the air was measured in selected typical mines in all mining regions of the country. II-nd - stage /1972-1974/ was the periodical control of concentration of potential alpha energy of RnDP in the air of zinc-lead and copper-ore mines which have been chosen and recognized during the first stage as being the most hazardous ones. Air-sampling system /ASS/ measurements were applied during this stage.

Jan 1, 1981

By F. J. Sotillo

Mineral processing requires good classification of particles to attain an adequate separation of minerals. This is of utmost importance in the case of sulfide minerals. An ideal classification is obtained when particles are separated at a given mesh, which is fixed according to the characteristics of each sulfide ore. Under these ideal conditions, particles coarser than the mesh of separation are recovered in the underflow, whereas particles finer than the mesh of separation are recovered in the overflow. This paper presents the results of pilot plant tests that were performed on Ag-Pb-Zn and on Ag-Au Peruvian sulfide ores using a Density Separator, and the comparison of these results with those obtained using hydrocyclones, under similar operating conditions. The results show that the ratio of circulating load is reduced by 50% by using a Density Separator with respect to that obtained by using hydrocyclones. Moreover, the effect of the improvement in the separation efficiency obtained by using the Density Separator on the kinetics of flotation is also shown. Silver recovery of the Ag-Pb-Zn ore increased by 18% whereas gold grade in the concentrate of the Ag-Au ore is doubled.

Jan 1, 1998

By D. Williamson

In the post war years metals analysts and statisticians have generally tracked the demand for metals in line with changes in OECD industrial production (IP) growth rates because, undoubtedly, the correlation between IP growth and metal demand was reasonable. However the correlation was exaggerated. During times of expanding IP growth metal demand increased at a faster proportional rate than IP growth. This was probably due to industry restocking in anticipation of growing demand at the start of each economic cycle. Conversely, metal demand would slacken at a greater rate than would be suggested by negative IP growth as industry destocked in order to reduce costs. Nonetheless, overall, a reasonable correlation between IP growth, over the longer term, and metal demand could be painted. Yet, although this correlation has stood well since the last world war it has been based on the fact that the bulk of the world's IP growth stemmed from the industrialized countries of the western world, latterly including Japan. The so called "developing world" was of little consequence, whilst countries of the Soviet Union and Communist Bloc were deemed to be closed, self-contained entities which, for each metal, would either be net exporters or importers. These quantities would be used by analysts to calculate the overall supply/demand equation for the western world only and to deduce whether a commodity was in shortage or surplus. It is now believed that this method of projecting total world supply and demand for raw materials is outdated and takes little account of the worldwide political changes which have occurred since the collapse of communism and the revitalization of China, albeit under a notional communist government. It is no longer appropriate to assess global balances for raw materials on the basis of three economic blocs namely, western world, developing world and communist bloc. Rather, global balances need to be projected on a global basis. In this regard, since the collapse of communism and the removal of many other totalitarian regimes, capitalist forces are at work and are attempting to satisfy, with some considerable success, the expectations of the great mass of the world's poorer people. Such people, usually located in Asia, Africa and Latin America have aspired to the same standard of living as people living in western Europe, North America and Japan. Now, with free market forces at work their aspirations will start to be met. Consequently, the demand for metals and other raw materials will now rise at a much faster rate than at any other time in the world's history. Not only will the production of raw materials have to keep pace with rising IP in the developed world but will also have to keep pace with the demands associated with the rising expectations of rapidly increasing populations in the developing world, as well as from within the old communist bloc countries. This paper sets out to argue the case that metal demand could well increase at a rate faster than the world's mining companies, governments and financiers can deliver.

Jan 1, 1997