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By Michael Rieber

Mineral economics interfaces the mineral sciences and engineering with finance and economics in the analysis of appropriate questions facing the minerals and energy industries. Its practitioners include those trained in the earth sciences; mining, petroleum, and geological engineering; metallurgy and mineral preparation; as well as finance, information systems, economics, and statistics-most usefully in one or more combinations. Allowing for some overlap, three general areas may be identified: evaluation, economic analysis, and resource appraisal. Evaluation begins with mine investment analysis (exemplified by Gentry and O'Neil, 1984) and process costing, for which the STRAMM Handbook (Anon., 1977) provides a well-known basis for mining and beneficiation. But it extends from property appraisal, often used for the determination of taxes and royalties, through the determination and comparison of transport costs (e.g., Richer and Soo, 1977), and to benefit/cost analyses of externalities. Economic analysis, the subject of this section, is displayed in rigor and extent both theoretically and as applied to commodity classes in Vogely (1985), but it is implicit though apparent throughout Lefond (1983). The text edited by Vogely places minerals in their aggregative context with economic growth and trade, proceeds to the theoretical analysis of minerals and their markets, analyzes the structure and performance of the major mineral sectors, and concludes with policy issues: fuel, nonfuel, and environmental. Resource appraisal employs quantitative methods for the estimation of mineral and energy resources. It moves through geologic, geophysical, and geochemical properties to the identification of estimation procedures for mineral endowment and for the economic measure of stocks and flows of specific minerals (Harris, 1984). It can be used to estimate the probable amount of a specific resource remaining in a given region and has been used to project sites in a specific

Jan 1, 2008

By R. W. Schultz

Mineral exploration carried out in Ireland since the mid-1950s has resulted in the discovery of ore deposits that are now in production atTynagh (Pb-Zn-Cu-Ag), Silvermines (Zn-Pb) and nearby Ballynoe (barite), and Gortdrum (Cu-Ag-Hg); a major Zn-Pb deposit at Navan that is now being drilled prior to development; potentially productive deposits at Keel (Zn-Cd-Pb), Ballinalack (Zn-Pb) and Aherlow (Cu-Ag); and a number of interesting prospects, including one of spodumene. Underground exploration of a formerly extensively mined copper deposit at Allihies has outlined new, albeit currently uneconomic, reserves at depth. The copper and pyrite deposits at Avoca have in recent years been re-explored and are now again being worked. Most Irish ore deposits are in the lower half of the Lower Carboniferous succession of limestones and subordinate shales and sandstones, and this stratigraphic zone is being most intensively explored at present. Other geological units under active exploration are Ordovician sediments-volcanics belts, Caledonian granites, and parts of the Old Red Sandstone and Dalradian series. Surface prospecting is made difficult in many places by glacial and other superficial deposits, including peat and alluvium. Geochemical prospecting methods have been outstandingly successful and primarily responsible for most new discoveries. Boulder hunting and outcrop prospecting have proved effective in detailed investigations of geochemically anomalous areas. Some parts of the country have been covered by three separate airborne geophysical surveys, albeit without success so far. The induced polarisation technique, the most widely used ground geophysical method, has contributed to several discoveries. The scope of application of electromagnetic surveys is more restricted than that of induced polarisation, but the method has been effective in a few cases and has contributed to the Tynagh discovery. To date, the resistivity and self-potential methods have found little application. Magnetic surveys are not applicable directly in the search for ore deposits of the various known types, but can be helpful in outlining geological structures in some areas. The gravity method has been used successfully in a survey over the Zn—Pb deposit at Navan ; it has also proved effective in trials over a blind sulphide deposit at Tynagh that cannot be detected with geoelectrical methods. An appendix lists summary descriptions of 15 Irish deposits and occurrences

Dec 1, 1971

By Robert Agar

This paper reviews the mineral exploration applications of satellite and airborne multi- and hyperspectral data and field spectrometers, and attempts to provide a setting in which each might be best applied.

Apr 24, 2001

By Charles W. Merrill

AN ADEQUATE, dependable, and continuing supply of raw materials is indispensable to tile the United States and its industries in meeting the needs of an expanding Population, a rising standard of living, and the national security. The primary responsibility for appraising the status of the country's mineral supply and for making appropriate recommendations within the executive branch and to the Congress has been pinned in the U.S. Department of the Interior. In fulfilling its role of governmental responsibility for raw-material supplies and their efficient utilization, the Bureau of Mines has analyzed the factors in current and future mineral supplies and demands and has developed 87 statements for specific commodities that assess the national position and problems for these metals, minerals, and mineral fuels. These statements, which constitute the chapters of this volume, are based on lire assumption that nearly till production and consumption of materials in the United States are to be by private individuals and organizations, in accordance with the Nation's devotion to a private-enterprise economy.

Jan 1, 1960

By Charles W. Merrill

THE INDUSTRIAL strength and the security of the United States require an adequate, dependable, and continuing supply of raw materials, of which minerals constitute an indispensable segment. With an expanding population, a rising standard of living, and the instability inherent in a constantly changing international situation, the mineral supply outlook is a major national concern. Structures, roads, and machines are built largely of mineral products; the energy to heat the structures and to power the machines is derived mostly from minerals; agricultural out-put is sustained with the aid of mineral fertilizers; and the Nation's economic and military security both are founded ultimately on its ability to obtain and utilize essential metals, nonmetals, and mineral fuels.

Jan 1, 1965

By Warren E. Morrison

The first major evaluation of the nation's raw materials prospects after World War II was completed by the President's Materials Policy Commission (Paley Commission) in 1952 and submitted to the President in June of that year, as a five-volume study entitled Resources for Freedom. The bulk of the report was devoted to an analysis of the past, present, and probable future of the Nation's mineral supply industries. The Commission's evaluation of the future situation regarding minerals was derived from its forecasts of the probable domestic demand for the major minerals in the 1970's. This demand analysis was made in the context of probable worldwide demand. Several crucial assumptions were made by the Commission's fore-casters. It was assumed in 1950 that the next 20 to 30 years would see no major wars and be a period of sustained economic growth. Another assumption was that the anticipated demand for raw materials must be supplied at essentially no increase in real cost in order to avoid crucial supply problems. The Commission's forecasts were derived within the context of the country's expected future rate of economic activity. The gross national product (GNP) growth to 1975 was derived from projections of the number of people in the labor force, hours of work, and an index of probable production measured per unit of labor input. It was believed labor hours would decrease and labor productivity would increase. The result was a forecast GNP growth rate of 3 percent.

Jan 1, 1970

The contribution of minerals to the growth and development of the United States is best demonstrated by the uses which have evolved during the past two centures. During pre-Revolutionary days the colonies were essentially agricultural in character, producing cotton, tobacco, rice, indigo, grains and flour, fish, livestock, dairy products, and timber. Shipbuilding was the major manufacturing industry. In 1763, the total value of exports for Virginia, Maryland, New York, Pennsylvania, and Massachusetts was £2,722,000, of which £55,000, or 2 percent, was for "copper ore, and iron in pigs" (3)1 and £49,000 was for 21,000 barrels or hogsheads of "pot-ash." The value of 75 ships built for sale in 1763 by the colonies was £61,500.

Jan 1, 1976

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Jan 1, 1985

By P. V. Malyarov

"This paper examines the grinding and wear processes in drum mills. A summary of the industry’s long-term experience with the proposed linings is presented. A method is proposed for assessing the efficiency of the grinding energy distribution between the successive stages. A case study is presented of grinding energy redistribution at Talnakh Concentrator by replacing spiral classifiers with a drum-type hydraulic screen. The problems of the kinetics of grinding processes in ball mills and semi-autogenous (SAG) mills are examined. It is demonstrated that in ball mills the feed particles are disintegrated by triaxial compression in the mill zones where discrete slippage of the charge occurs at major force interactions between the layers. Mechanism underlying increases in the specific energy consumption in grinding circuits based on SAG mills is shown.The problem of improving the throughput and reducing the specific energy consumption in mineral feed grinding is highly relevant because of the significant energy intensity. Up to 80% of the consumed energy is used to disintegrate ore fed into the drum mill. At all development stages of the drum mill grinding theory, the researchers have paid a great deal of attention to studying the patterns of the charge motion and the kinetics of the feed particles disintegration processes. In [1], it was shown that, due to the slippage between the charge layers being lifted, drum mills at concentrator plants operate in a mixed cascade and waterfall mode. A feature of the mixed mode is the toe zone, where the charge contacts the lining and the transition to a circular path takes place. Studies of the charge motion in the toe zone made it possible to develop a method for designing cross-sectional profiles of lining plates [2] for ball mill drums. The method is based on the principle of interaction between the balls and the lining, where the non-working rear surfaces follow the relative motion path of the balls before impacting the lining, while the working surfaces are orthogonal to the rear ones. Lining with the proposed profile provides contact with the charge and slippage-free transition to a circular path. This ensures an longer service life of the lining, a reduction in specific energy consumption, and an increase in the mill’s feed rate. The proposed method is applicable when designing lining plates of various materials. Steel liners with the proposed profile have been successfully operated [3] for more than 40 years at a number of projects in the industry."

Jan 1, 2018

After nine years of negotiations, the U.N. Conference on the Law of the Sea approved a Law of the Sea Treaty text in April. Israel, Turkey, the United States and Venezuela voted against the text and 17 other nations including Belgium, the Netherlands, Italy, the Soviet Union, the United Kingdom and West Germany abstained. These nations still have the option of joining the treaty when it is opened for signing in December. However, the Reagan Administration has stated that several provisions of the deep seabed mining portion of the text are unacceptable and it seems unlikely that the United States, at least, will change its position. ALUMINUM Reynolds Metals Co. has criticized an Oregon state plan to relax air pollution standards for aluminum plants. The company feels that relaxation of the rules does not go far enough. Reynolds officials say that they have spent about $31 million at their Troutdale plant for state-of-the-art pollution control equipment, and if they are required to make the pollution reductions called for in the 1986 rules, Reynolds would be forced to close the 40-year-old plant.

Jan 1, 1982

Norton Co., the world&apos;s largest producer of abrasives, is enlarging its proppant operation. Proppants are strong chemical particles used to wedge open rock formations in deep oil wells, thereby increasing the well flow rate, sometimes as much as tenfold. Norton" aluminum oxide-based proppant is rapidly displacing less durable materials. The company is building the world&apos;s largest proppant plant in Fort Smith, AR. ALUMINUM--See also REFRACTORIES The price of primary aluminum ingot was increased by several producers in July. Kaiser Aluminum & Chemical Corp., and Revere Copper & Brass Inc. increased the price of primary aluminum to 63.0 cents per pound, effective July I. Reynolds Metal s Co., Anaconda Aluminum Co., Howmet Aluminum Corp., and Marti n Marietta Aluminum Inc. increased the price of 99.5% primary aluminum ingot to 63.0 cents per pound, effective July 5, The Aluminum Company of America increased the price of aluminum ingot to 62.5 cents per pound, effective July 9. The range of prices at the end of the month was 58.5 to 63.0 cents per pound.

Jan 1, 1979

Norton Co., a manufacturer of abrasive products and diamond drilling and coring bits for oil and gas exploration, is building a $19.1 million addition, scheduled for completion in late 1980, to the Huntsville, AL. The plant makes alumina-zirconia abrasive grains used in grinding wheels and coated abrasives. ALUMINUM Martin Marietta Aluminum Inc. announced plans to expand production capacity of its 112,000-ton-per-year primary aluminum smelter at Goldendale, WA to 177,000 tons per year. The $125 million expansion was scheduled to come onstream in 1981. The Aluminum Company of America announced plans to restart a fourth potline during October at its 185,000-ton-per-year Point Comfort, TX primary aluminum smelter.

Jan 1, 1979

Kaiser Aluminum & Chemical Corp. announced that it planned to spend $66 million to increase the efficiency of its Baton Rouge, Louisiana, alumina plant. The improvements are designed to reduce energy consumption but will not change the annual capacity of the plant, now rated at about one million short tons. The project was expected to be initiated immediately and be completed by 1982. ALUMINUM Producers in this country posted unalloyed 99.5 percent aluminum ingot at 53-57.5 cents per pound, yet actual selling prices were closer to 53 cents. Domestic merchants quoted unalloyed ingot on a spot basis at 54-56.3 cents. London Metal Exchange 3-month forward contracts fell during November&apos;s trading from 55,2 cents to 52.8 cents per pound.

Jan 1, 1978

A major domestic aluminum producer raised its price for primary aluminum metal from 44 cents per pound to 48 cents per pound, effective August 5, 1976. Other major producers have increased their list prices by equivalent amounts COAL: The strike which began July 19 in southern West Virginia enlarged by early August to involve approximately 80,000 miners in nine States. As of August 4, the aggregated loss of production is estimated to be 5.8 million tons. Reportedly, at this time, the railroads which serve the struck areas are feeling the largest impact with coke plants and electric utilities relying on stocks which are generally high.

Jan 1, 1976

Workers at Anaconda Aluminum Company&apos;s primary aluminum smelter at Sebree, Ky., were back on the job December 1, after agreeing to a new 3-year contract. The old contract had expired November 15. On December 20, the Aluminum Company of America reportedly shut down a 42,000-ton-per-year potline at its Wenatchee, Wash., primary aluminum smelter and half of a 23,000-ton-per-year potline at its Vancouver, Wash., smelter as a result of a power cutback by the Bonneville Power Administration. A1 so in December, Kaiser Aluminum & Chemical Corp. reduced overall power at its Mead and Tacoma, Mash,, smelters and shut down one of eight 27,500-ton-per-year potlines at Mead. Reported shutdowns for the firms since September have amounted to 76,000 tons for Alcoa and 50,000 tons for Kaiser. Alcan Aluminum Ltd. announced plans to double the generating capacity at its Kemano hydroelectric power plant in British Columbia to 1,916 megawatts. The additional power would be equal to that required of a primary aluminum smelter with an annual capacity of 567,000 tons.

Jan 1, 1980

Aluminum Production. -By October 1, Aluminum Company of America will restart a 35,000-ton-per-year unit at its aluminum smelter at Rockdale, Tex., restoring that facility to its full capacity of 325,000 tons annually. Primary Ingot Price Increase. -Most U.S. aluminum producers in mid-September were quoting a price of 72 cents per pound for primary aluminum ingot. On September 19, Kaiser Aluminum & Chemical Corp. announced that it would increase the price of primary aluminum ingot 4 cents to 76 cents per pound.

Jan 1, 1980

Mitsui Aluminium Co. of Japan announced that it would finance 25 percent of the construction costs for the 217,000 ton-per-year primary aluminum smelter being built by Alumax, Inc. at Holly, SC. Mitsui would receive 25 percent of the plant&apos;s production in return. Construction on the smelter began early in 1978, and is scheduled to be completed in 1981. The Aluminum Company of America (Alcoa) announced plans to restart a third potline at its Point Comfort, TX primary aluminum smelter in July. The company previously announced plans to restart two potlines at the facility in May. Reynolds Metals Co. began preparations to restart primary aluminum production in May in one of two 57,000 ton-per-year potlines at its Corpus Christi, TX smelter. The plant has been closed since 1975.

Jan 1, 1979

The Aluminum Company of America announced a temporary reduction of the operating rate at its primary aluminum plant at Palestine, TX where it is developing a new process to produce aluminum metal by electrolysis of aluminum chloride, Output will be reduced by half to about 7,500 tons per year while some improvements are being made on the chemical segment of the plant. The modifications were expected to take 3 to 4 years to complete. Alcan Alumininum Ltd., a major U.S. supplier of aluminum, reported declaration of force majeure on aluminum ingot shipment commitments following the shutdown of its primary aluminum plants at Arvida, Isle Maligne, and Beauharnois, Que. The shutdowns, which began early in June, resulted from management and labor differences.

Jan 1, 1979

On November 9, the Reynolds Metals Company cut production by 12 at its primary aluminum smelters at Troutdale, Oreg., and Longview, Wash., as a result of an earlier 25% power cutback by the Bonneville Power Administration due to lower than normal stream flow in September, the Aluminum Company of America had closed one potline at its Vancouver smelter because of the power cutback. Nearly 700 union workers at Anaconda Aluminum Company&apos;s primary aluminum smelter at Sebree, Ky., walked off the job when their contract expired or, November 15, after rejecting a proposed 3-year contract. The smelter has an annual capacity of 180,000 tons mid accounts for 50% of Anaconda&apos;s aluminum production. No talks are scheduled.

Jan 1, 1979

Anaconda Aluminum Co. began production from a new 60,000-ton-per-year potline at Sebree, KY, which brings the total capacity of the plant to 180,000 tons per year. A strike by workers at Alcan Aluminium Corp. primary aluminum smelters at Arvida, Que., Isle Maligne, Que., and Beauharnois, Que. shut down the plants and the company announced force majeure on part of its ingot supply commitments. Kaiser Aluminum and Chemical Corp. announced plans to increase its price for primary aluminum from 60.0 cents per pound to 63.0 cents per pound effective July 1.

Jan 1, 1979