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The U.S. economy and, consequently, the demand for minerals grew at more moderate rates in 1995 compared with stronger performances the previous year. Demand for metals such as steel and copper was relatively stable. For example, the decline in steel consumed in motor vehicle manufacturing (reflecting lower vehicle sales) for the first half of 1995 was offset by an increase in steel consumed in construction during the same period. More detailed information on events, trends, and issues in the mineral and material sector Is presented below and in the commodity sections that follow. Overall Performance The value of processed materials of mineral origin produced in the United States during 1995 was estimated to be $395 billion, an increase of almost 10% compared with 1994. The estimated value of U.S. raw nonfuel minerals production in 1995 was $38 billion, about 7% more than in 1994. The value of U.S. minerals production has increased in 30 of the last 35 years.

Jan 1, 1996

By V. F. Swanson

A petrographic study was made of the type and sources of mineral contamination occurring on phosphate rock products from Florida. Emphasis was placed on contaminants in the screened rock (+1 mm) since this portion of the product undergoes no physical beneficiation except for scrubbing to remove slimes. Since iron and aluminum con- tent of the finished product affect the salability, special emphasis was placed on identifying types and sources of these contaminants and relating chemical composition to visual characteristics. Wavellite derived from the overburden was the major aluminum contaminant with some aluminum being included as secondary clayballs. Iron occurred as phosphates in the overburden, and as colloidal oxides included in the phosphate pebbles. Chert and limestone contamination were derived from the Hawthorne formation underlying the phosphate matrix.

Jan 1, 1969

This is an audience, I know, that shares my interest in a subject that is currently getting a lot of attention -the tendency of our Nation to draw increasingly on overseas supplies of certain mineral commodities, and proportionately less on domestic sources for these minerals. That we do obtain substantial quantities of some essential minerals from abroad is easy to demonstrate. That we will continue to do so in the foreseeable future is not in doubt. Uncertainty begins, however, when we try to interpret the significance of these facts. As with many phenomena, their meaning is open to a variety of interpretations.

Jan 1, 1980

By NA NA

Reports of discussion at sessions held in Keyworth, UK, on 22-23 April 1992.

Jan 12, 1992

By R. C. Wallace

In the early explorations of the Northwest, the search for minerals played a not inconsiderable part. The first episode had its disillusioning sequel. Sir Martin Frobisher, in 1576, sailed up that bay in Baffin land now known as Frobisher bay, thinking that he had the coast of Asia on his right hand. He brought back from this expedition a piece of 'black earth' from Hall island, from which an alchemist by coaxing nature, or his own conscience, obtained gold. A second expedition of three ships was fitted out in 1577, and a third of fifteen ships in 1578. The ships were loaded with this 'black earth', which on subsequent investigation was found to be worthless, and interest in minerals for the time being ceased. In 1612 Hall and Baffin went in search of a gold mine near the Arctic circle on the west coast of Greenland, reported to be worked by the Danes. They found old workings, but no ore. To come nearer the Hudson Bay area, it is noteworthy that the charter granted by Charles II to the Hudson Bay Company in 1670, as a result of the explorations of Radisson and Groseillers, was given "-in consideration for their having at their own cost and charges undertaken an expedition to Hudson bay in the northeast parts of America, for the discovery of a new passage to the South sea, and for the finding of some trade for furs, minerals and other considerable commodities, and of their already having made by their undertakings such discoveries as did encourage them to proceed farther in pursuance of the said design, by means whereof there might probably arise great advantage to the King and his Kingdom - ".

Jan 1, 1925

Sequential and evolutionary changes through time are recognizable in many, perhaps most major families of ore deposits and their geological environments. These changes are additional useful indicators of the evolutionary history of the earth and its tectonic processes. They are important in mineral exploration because they involve consideration of time as a fourth dimension, thereby indicating the most favorable ages, rather than types of rock for investigation. Many of the changes are analogous to those recognized in faunal evolution. Some primitive, unspecialized types of ore deposits occur nearly unchanged through rocks of widely differing age. Others diversify into several, more specialized variants, whereas still others become extinct. The place of these is taken by new, younger types, some of which undergo sudden proliferations and later diversifications of their own. In Archean greenstone belts irrlportant iron, nickel, gold, and base metal deposits occur co-regionally, but in different stratigraphic positions in the same, thick volcano-sedimentary successions. Here their close temporal and spatial associations suggest common genetic exhalative hydrothermal processes. The massive base metal sulfide family of ore deposits provides an excellent example of evolutionary changes, exhibiting distinct variations through both time and space. Deposits belonging to this family span the entire range of time, occurring in rocks of ancient Archean to Recent age, and specific types within the family also span the entire range of spatial environments from ensimatic to ensialic. Moreover there are possible evolutionary metallogenic links between certain types of massive base metal sulfide deposits and other important base metal ores, noteably Mississippi Valley-type and porphyry copper deposits.

Jan 1, 2013

By D S Wallis

Northern Australia leads in world-class mineral deposits' is a bold statement. First there must be a starting point. Land north of the Tropic of Capricorn (23¦ 26' 5") will be regarded as Northern Australia covering nearly 40 per cent of the land surface of Australia. As opposed to land south of the Tropic of Capricorn, it should be regarded as Tropical Northern Australia and for the sake of brevity, (TNA) Refer Figure 1. Apart from the tyranny of distance from centres of power and population in the temperate zone, it suffered in the past from the belief that the tropics are unsuited for European workers and from the lack of infrastructure. Outstanding mineral deposits of iron, base metals, gold and diamonds, discovered and developed in the past three decades, provided the substance for the title. There are many world-class mines producing and there are mineral deposits neutralised through Government policy. TNA can maintain its lead in world-class mineral deposits provided Government policy will stop partitioning the land and decreasing that available for exploration. Let's look at what we have that is world-class. In Western TNA iron ore deposits at Paraburdoo, Mt Tom Price, Marandoo, gold at Telfer, diamonds at Argyle. In central TNA uranium at Ranger and Jabiluka, lead-zinc-silver at McArthur River, gold at the Tanami, manganese at Groote Eylandt and bauxite at Gove. In eastern TNA Mt Isa, Hilton, Century zinc-lead, bauxite at Weipa, gold at Kidston, Mt Leyshon, magnesite at Yamba and coal mines in the Bowen Basin. Those mines or deposits stand out yet are only an indication of the numerous lesser mines and of mineral deposits depending for development on market demand and/or changes in Government policy, eg 'The Three Mines' policy. Very large areas of mineral rich structures in the western, central and eastern parts of TNA are concealed below flat lying comparatively young unmineralised sediments. The Great Artisan basin sediments in eastern TNA can and do host oil shale and non metallic minerals. Nearly 40 per cent of western TNA is covered by the Great Sandy Desert. The Canning Track, with a series of 54 wells, was constructed by surveyor Alfred Canning in 1908 - 1910 with great difficulty. It extends 1700 kilometres from Halls Creek in the north to the gold town of Wiluna in the south, through the Great and Little Sandy Deserts. Gold explorers are following favourable structures extending to the north east below the sediments and sand hills covering the track. Half of central TNA's mineral structures are concealed by the Tanami desert and the Cretaceous sediments covering the pastoral regions of the Barkly Tableland and the Daly Waters to Top Springs pastoral areas. The Georgina Basin in the south eastern section is part of the concealment.

Jan 1, 1994

By Hulbert A. Lee

"A REVIEW OF MINERAL DISCOVERIES IN CANADA, and in particular the Canadian Shield, using the physical aspects of overburden reveals a trend in the art of exploration. At an early time of exploration (1847-1954), float and heavy clasts were used successfully to find ore deposits with little knowledge of Quaternary environments. At a later time (1955 to present) , use of Quaternary rock-units for sampling have made possible tracing indicator trains of float, heavy clasts and other ore-type clasts to the source bedrock. The basal till of retreat ice is now recognized as a1l favourable sampling environment and as such has been used to successfully discover hidden orebodies. The esker massive gravel is beginning to be recognized as a favourable environment and use of it has met with technical success. An understanding of those changes that have taken place during the transportation of the material and after its deposition is essential to proper sampling and treatment of the samples from the basal till and the esker massive gravel. Use of float and heavy clasts in search of orebodies is continuing in present-day exploration on the Shield. Lessons learned from it are being incorporated into exploration using favourable Quaternary rock-units for sampling. Hence, both subjects have a need for review and are discussed in this paper."

Jan 1, 1971

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 W. M. Myers

MINERAL Economics is the most recent profession to be recognized as a separate division of the mineral industries. It has originated from the increasing awareness of the importance of the economic aspects of industries concerned with discovery, extraction, and utilization of minerals. It is concerned with the interrelated fields of economics and technology. The individual trained in economics alone cannot qualify. The curriculum in the School of Mineral Industries at The Pennsylvania State College was approved in May 1946, and enrollment begun in September of that year. Due to the transfer of advanced students from other courses, particularly metallurgy and electrical engineering, it was possible to graduate the first seniors in June 1947. The next class was graduated in February 1948. From experience derived from placing these graduates in industry, and from information supplied by prospective employers, valuable data have been obtained in the organization and operation of the course of study.

Jan 1, 1948

By F. G. Tryon, F. E. Berquist

Our task is to make a prospecting trip over the whole field of mineral economics which other lectures of this series will explore in detail. The old timers who really understand mining warn us that its economic aspects are often neglected, and this we find to be true. We shall try to show that mineral economics deserves recognition as a separate branch of economic science with urgent and distinctive problems of its own; that to cultivate it requires a fusing of the viewpoint of economics with that of geology and engineering; and that the help of both economists and technical men is needed in exploring its problems and in training workers in the field. To save time, we shall pass over the familiar subjects of production, consumption, and distribution which bulk as large in the market analysis of the minerals as they do in other commodities. The existence of these problems may be taken for granted and attention centered rather upon those that differentiate mining from other branches of industry. What then is the case for an economics of minerals? Why set up a new compartment in a branch of knowledge that is already well subdivided? Do not the established principles of economic theory apply here as elsewhere? In pleading for recognition of mineral economics one often finds that

Jan 1, 1932

By Samuel H. Dolbear

THE value of a mine is basically dependent on its capacity to yield profits. Since the ore must be mined, treated, and sold, some of it in various future years. there is a risk involved as to future costs, selling price, and working conditions. It cannot be expected that the economic condition existing at the time of valuation will continue unchanged for long periods in the future. During the past 20 years, mineral production in the United States has been conducted under a changing economy in many respects more exacting than that applied to other businesses. There have been increased production incentives, technical aid, exploration of privately owned mineral deposits by government at federal expense, and liberal loans for development and equipment, with risk partially assumed by government.. Some of these benefits have been counterbalanced by price ceilings, consumption controls, and stimulation of competition from foreign producers who have been offered the same advantages extended to American operators. For the present, mines will operate under a government policy directed toward reducing federal aid and control. The tenure of this change will depend upon future elections and the status of foreign relations. War and threat of war are now of the most vital significance to the mineral industries. Other factors which influence cost of production, markets, and price of mine output might be classified as Acts of God or Acts of Government. In some countries expropriation and the difficulty of exporting earnings or investment returns are risks that must be considered by foreign capital. Recognizing that this retards American investment in foreign countries, the Mutual Security Agency offers insurance against such expropriation and guarantees the convertibility of capital and profits. Since it is impossible to predict with certainty either cost of production or selling prices of metals for long periods, some assumptions must be made as to profits in the future. The basic assumption must be that the price of the company's product will vary in proportion to changes in operating cost. There is often a lag in this reaction, however, for prices of minerals are generally more sensitive to declines and less sensitive to increases than are costs. This reflects in part the resistance of labor to downward wage revision and a corresponding alertness in realizing its share of price advances. Some labor contracts include automatic adjustments to metal prices. Notwithstanding the complexity of the, problems involved and the difficulty of weighing their effect on value, such risks may be appraised with reasonable accuracy and a rate of earnings adopted that is compatible with the risk. It is, of course, possible to revert to a yardstick of value such as the commodity dollar, which has been advocated from time to time, but while revaluation in 1933 disturbed public confidence, the theoretical gold dollar continues to be the standard of greatest stability. Its gain or loss in purchasing power is reflected ultimately in cost of production and selling price of the mine product. At present 35 dollars are allocated to one ounce of gold. Measurement of Risk In the application of the Hoskold and most other formulae, a yearly dividend rate commensurate with the risk involved is set aside out of annual earnings. If the risk is great, this rate may be 15 to 25 pct of the amount invested. The remainder is placed in a sinking fund invested in safe securities such as high grade bonds or conservative equities, and the interest or dividends from these securities are added to the sinking fund. The sum of these sinking fund payments and the compounded interest at the end of the mine life is taken as the value of the mine. Admittedly the decision as to the size of the risk rate is the most difficult element in valuation and one requiring the most exacting consideration. It is necessary to look years ahead in an effort to determine future costs, market prices, demand, competition which may develop, including that of substitutes, and other influences common to the mine and to the region in which it is situated. Another phase of risk is the enactment of unfavorable legislation, taxes, and what appears to be an alarming spread of nationalization and expropriation. Capital is sometimes borrowed from the government to finance strategic production. Such loans may be collectable only out of production and involve no liability otherwise. Valuation in these cases must recognize the effect of such a reduction in liability. Offsetting some of these risks are the possibilities of mechanization and other cost-reducing discoveries, improvements in mining and treatment methods, new uses for minerals and metals, and normal growth of markets. In this paper, the terms risk rate, dividend rate, and speculative rate are synonymous. Safe rate and redemption rate are also used interchangeably. These alternatives are used here because they are commonly found in the literature on mine valuation. In Michigan, the State Tax Commission has long employed a risk rate of 6 pct in its valuation of iron mines. There the outline of reserves is well established and operating costs and conditions are based on adequate experience. The following comment on rates appears in the report of the Minnesota Interior commission on Iron Ore Taxation submitted to the Minnesota Legislature of 1941.1 Most engineers agree that 7 percent for the specu-lative rate is "an absolute minimum". C. K. Leith in

Jan 1, 1954

By W. Keith Buck

This paper defines the discipline of mineral economics. By example, it describes the application of the tools of economic analysis to mineral problems - to problems in the areas of: mineral resource analysis and forecasting, mineral industry activity from exploration to distribution and marketing, mineral commodity analysis, and mineral policy analysis and policy formulation - all in a regional, national or international context.

Jan 1, 1972

By AIME AIME

FOR the mineral industry, as for many others, the year 1944 brought to fruition the seeds planted in previous war years. Accomplishment in attaining ends in the production of minerals has given more time for the consideration of postwar problems, such as plans for resuming production for civilian uses and measures to prevent possible mass unemployment. The hectic atmosphere in production circles lessened during the latter half of 1943, conditions becoming static during 1944 as peak production rates were reached. Withdrawal of deferment of young men from the mining districts by Selective Service connotes that man power at the battlefronts became more important than the persistence of pressure for metal production. This is in contrast to the return of soldiers in 1943 to augment the labor ranks in the mining districts. The year ended in the midst of changing needs. Over-all metal production in the United States in 1944 will record a lessening, compared with the previous year owing to labor shortages which affected both development work and ore output.

Jan 1, 1945

By William B. Plank

THE growing dependence of our vast industrial civilization (:n mineral products demands today, as never before, the highest technical skill in those who produce these product-;. That the duty of training the engineers, whose responsibility it is to produce these mineral products efficiently and in sufficient amount, falls directly on the schools of mining is beginning to be more fully recognized. The Institute, realizing this fact and that its future membership depends largely on the annual accretion of young men, is showing a keen interest in the problems of the mining schools and in the work of its Committee on Engineering Education. The Committee has, during the past several years, considered the problems connected with the training of men for the mineral industry, whether these have been problems of college training, or placement of the young engineer in the industry, or personnel training after he enters the industry. The field of interest and discussion has been as broad and varied as the mineral industry itself. Coal mining, metal mining and metallurgy have been discussed and the papers on these subjects have been outstanding contributions to the literature on mineral education.

Jan 1, 1931

By Ferron A. Olson

Occasionally it is good to consider the past, assess the present and project the future. Curriculum, enrollment, matriculation of graduates and changes in industry which influence mineral education are all relevant for determining what changes will be needed in educational institutions to support growth and development in the United States. It would appear likely that with environmental pressures, energy needs with present stress in fossil fuels and general societal needs for metals and minerals that mining and metallurgical engineering faces a period of growth and may be on the threshold of a new era with a vitality that has not been enjoyed for several decades. The following information is based on material obtained through questionnaires received from twelve schools accredited in mining or mineral engineering (out of 18 in the U.S.), 2 not accredited and 5 which no longer have mineral engineering disciplines. The schools presented do not include the smaller nor larges of the undergraduate programs in mining engineering.

Jan 8, 1972

By Andrew J. Freyman, George S. Barry

"Mineral endowment in northern British Columbia and the Yukon Territory was assessed on the basis of geological opinion which was gathered in a quantitative framework of subjective probabilities. The survey area encompassed 364,000 square miles and was divided into 310 cells having dimensions of one degree of longitude by one-half degree of latitude. The response solicited related to tonnage, grade and number of deposits of a particular mineral in each cell. The questionnaire sought an expression of mineral endowment down to mine-able depth as distinct from economic expectations. Details on the questionnaire and responses are presented in a series of contour maps on individual commooities, which illustrate the collective occurrence picture of the respondents. The approach is largely dependent on the cooperation of an adequate number of geologists familiar with the region being examined. This approach to an assessment of the mineral endowment of a region has a wide range of applicability, from the focusing of exploration effort to aiding government and development bodies in the formulation of regional strategies and the planning, for example, of road, rail and power facilities."

Jan 1, 1970

By R. D. Corrans

"Abstract - Africa is endowed with a number of the world's giant ore deposits which have contributed significantly to the development of their host countries. Mineral exploration has a long history in the continent, but mining on an unprecedented scale took off during the latter part of the 19th century, accompanied by the development of lines of communication and other infrastructure to service the major mining centres .The ""Winds of Change"" which swept Africa in the 1950s and 1960s brought in new styles of government and economic management to a number of regions, often with demise of economic viability and infrastructure. ln recent years, with the end of the cold war, collapse of communism and changes in South Africa, new opportunities for mineral exploration are opening up rapidly in Africa. However, due to the large cost, long lead-in time, and high risk of developing new mineral ventures in the continent, it is necessary for the host countries to draft realistic and favorable mineral laws and fiscal codes in order to attract, and not deter, potential mineral investors.There will be an on-going role in mineral exploration throughout Africa for the artisanal miner, the smaller entrepreneurs and mining companies, exploration aid programs funded by the developed countries through African governments, as well as the major mining houses who have the resources to develop larger viable mineral deposits."

Jan 1, 1994

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

While specific definitions of the main categories of mineral reserves and mineral resources are becoming well established through the efforts of the Australasian Joint Ore Reserves Committee (JORC) and the Combined Reserves International Reporting Standards Committee (CRIRSCO), there has been perhaps less attention paid to the standardisation of language used in the definition and reporting of Mineral Exploration Results and a clear understanding of the transition to Inferred Mineral Resources. This is an area of significant importance to small and medium sized enterprises in the mineral exploration sector as it represents in many cases the only tangible information by which the reader or potential investor can evaluate the future potential of such enterprises. By its very nature information in the Mineral Exploration Results category is incomplete, and frequently complex, and it is open to a broad range of interpretation by readers of various competency levels and disciplines. Many will have a short-term speculative view rather than a long-term perspective, with others out deliberately to misrepresent the information, and as such it can have an enormous impact on investment decisions if the risks associated with this information being reported are not fully understood. Authors of reports on Mineral Exploration Results, who may be Competent Persons or company directors, have to put themselves in the shoes of the reader of the report, second-guessing if you like what the reader will understand by a report, which in many cases will be of a highly technical nature. This raises reporting dilemmas and questions that require to be understood and addressed. Looking at reports on Mineral Exploration Results from the other side, readers have a degree of responsibility as well, particularly if they engage in an advisory or communications role. The tendency of commentators, journalists, analysts, and bulletin board posters to over-exaggerate the significance of a particular exploration result is all too familiar. Questions arise here as well about whether there should be more regulatory supervision and control exercised over those who use this information, all of whom greatly influence investment decisions, and many of whom have no idea there is a Reporting Code, far less an understanding of it. Examples are given and questions raised to illustrate the dilemmas surrounding the reporting of Mineral Exploration Results. In order to retain credibility with markets it is incumbent on companies to be transparent, not to be selective and to report all material information. On the other hand, information has to be taken and read in its proper context in order to avoid fuelling dramatic and unjustified company share price escalation. Timing of course is another factor that can affect the market price of shares, which may be beyond the control of those making the reports. Emotive and imprecise language, however, when reporting Mineral Exploration Results, coupled by speculation, can trigger damaging short runs on shares and destroy credibility where formerly there was long-term promise. The paper will review how Mineral Exploration Results are dealt with in various jurisdictions, and conclude that there has to be a balance between prescription and the tempering of undue optimism on the one hand, and the entrepreneurial spirit, which the industry needs, on the other.

Jan 1, 2002