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By H. B. FERNALD

THE interesting and carefully developed formula which Professor Bucky presents for answering the question of whether proposed new equipment will give a net return on investment equal to or greater than that on present equipment starts with an assumption that the management may make this relative return a determining factor in its decision whether or not the new equipment should be provided. I do not question that in some cases the management may take this position, but I would point out the error involved in so doing. The proper test is not a comparison of the return on new as compared with the return on old investment, but is rather a comparison of the return on a particular new investment as compared with the return which would be obtainable from some other new investment which now might be made. Then I would point out that I believe Professor Bucky is in error in using as a factor in his computations the item of unamortized cost of old investment. The financial advantage to be derived from a new investment does not depend on the extent to which we may in the past have written off the cost of old equipment, nor does it even depend upon what was the original cost of that old equipment. Even the salvage or resale value of the old equipment will only enter into the picture to the extent that the present salvage or resale value differs from the ultimate salvage or resale value otherwise to be obtained, after due allowance for the interest factor.

Jan 1, 1930

By L. K. Daneshmend

The mine of the year 2020 will need to be based on a new way of mining. It will employ technology in a paradigm that assumes responsibility for sustainable development: taking account not only economic but also ecological and social issues. This will require a holistic approach to mine design and planning, considering all controlling factors and impacts (technical, economic, environmental and social). A national collaborative strategy is required to address the several options that exist for the development and application of 2020 mining technology. Key issues in implementing 2020 mining technology will also relate to human resources, in terms of employment, skills and education. A need exists to proactively prepare for 2020 through development of a comprehensive education and training strategy.

Jan 1, 1998

By James Westfield

This report covers the calendar year 1953 and has been prepared and submitted in accordance with the provisions of Sec. 106(a) and Sec. 212(c) of the Federal Coal Mine Safety Act (66 Stat. 692; 30 U.S.C. Secs. 451-483). During this first full calendar year of operations under the Federal Coal Mine Safety Act, the coal-mining industry of the United States attained the best injury records in its history - improving the former best records (made in 1952) by 91 fatal and 10,020 nonfatal injuries. Whereas, the mandatory provisions of the act were intended and designed to prevent major mine disasters, apparently the effects have reached beyond the scope thereof in reducing mine accidents generally.

Jan 1, 1954

The Nak?azdli First Nation and the municipality of Fort St. James are located in the Stuart Lake/Nak?al Bun area and are not unfamiliar to mining. These northern British Columbian communities have been associated with the historic Pinchi Lake Mercury mine and today are closely linked with British Columbia?s newest mine, the Mt. Milligan mine. Prior to the construction of Mt. Milligan, community health and social service providers were concerned about potential impacts that would occur from new mineral development activities. This concern has led to a partnership between the above communities and researchers with expertise in the area of mining and health. This paper describes: the current mining and health environment with a focus on British Columbia; mining trends in the Stuart Lake/Nak?al Bun area; the current community-based health research project funded by the Vancouver Foundation and the Canadian Institutes of Health Research, and; a suite of community-based health recommendations to mining companies on key issues to consider when developing projects near municipalities and Aboriginal communities in Canada, based upon one of the newest mines under development in Canada.

Aug 1, 2013

By John E. Kinnison

The Mission mine, located in southern Arizona near Tucson, is a recently developed open pit which produces 15,000 tons per day of copper ore. The mine lies on a wide and gently sloping bajada sweeping northeasterly from the Sierrita mountains. It derives its name from the nearby Mission San Xavier del Bac, built circa 1700. The ore body is everywhere covered by about 200 feet of alluvium, as are the adjacent Pima and Palo Verde mines. The geology of the Mission deposit is known principally through the study of diamond drill holes spaced 150 to 300 feet apart. The open pit is in an infant stage and has not yet revealed much of the deposit, although information obtained there by the operating staff, and from a few thousand feet of exploratory underground workings, has added significantly to the general fund of knowledge. Permission to publish was granted by the American Smelting and Refining Company. I am indebted to Kenyon Richard and J. H. Courtright for criticism of this paper and for their direction during the several years in which I studied the Mission deposit. Acknowledgment is given to consultant in petrography, Robert L. DuBois of the University of Arizona. The only previous publication pertaining directly to the geology of file Mission deposit appeared in 1959 (Richard and Courtright), and may not be everywhere readily available. Cooper (1960) has published a short paper on the district

Jan 1, 1963

The Environmental Excellence in Exploration (E3) project is driven by the recognition that the minerals industry can only maintain its long term viability by ensuring its continued access to lands to explore for, and develop, new mines. Widespread implementation of sound environmental management practices by the exploration community and improved education and understanding of that by stakeholders will help substantially in accomplishing this, and E3 is designed to meet these needs. Exploration crews are now viewed as ambassadors for the global mining community. Their performance in managing the environmental aspects of an exploration program can demonstrate a commitment on the part of the international mining sector to environmentally responsible exploration and mining. We have all observed that failure to behave responsibly can alienate local residents, encourage anti-mining NGOs and jeopardize development. As the saying goes, ?you don?t get a second chance to make a first impression?, and we want to make a favourable first impression. The E3 project is focused on creating an electronic manual, the e-manual, which will provide rapid access to the most up-to-date information on environmental management practices for minerals exploration globally. The e-manual will reflect current thinking and practices in environmental management. It will be richly illustrated with actual examples that reflect the realities of exploration. It will strive to identify the key environmental issues and concerns that apply to most exploration projects, and identify other sources of relevant information useful to field practice. It is our belief that E3, or something very like it, is central to ensuring that the industry survives the current challenges to its viability. E3 will be a cornerstone of the mining industry?s drive to sustainability simply stated, if we are not permitted to explore for mines, there will be none of them at some point in the relatively near future.

May 1, 2002

By E. Kendall Cork

The traditional financial objective for a single mine company has been to operate as frugally as possible and to pay out most of the earnings as dividends. If the business is cyclical (as it is for most metals) the dividends might fluctuate quite widely. When the mine is exhausted the company disappears. This is still quite a viable strategy for a single mine company. It is not however a viable strategy for the world as a whole. The mining industry is built by mine development companies who can mobilize the people and capital to bring new mines into production. Their skills must include marketing, engineering, finance and other politics. It is very rare for a property to be brought in without the support of a major company that can provide all these services. The exceptions will usually have some other form of big brother support, for example the U.S. government uranium contracts at guaranteed generous prices. The mine development company will seek as a minimum to perpetuate itself by developing new mines in order to replace those which are running out. The more common and more ambitious objective is to grow -- that is to add to its ore reserves and current production by developing more new mines. The financial objectives for that company are very different. Obviously if all the earnings were paid out in dividends there would be nothing left to work with. The first financial policy then is to spend an appropriate amount on exploration for new properties. The next is to retain enough of the earnings to provide the capital for new projects at least sufficient for the equity. There is no magic formula as to what proportion of earnings should properly be distributed as dividends by a growth-oriented mine development company. As a rough rule of thumb distributing half or more will probably leave too little to work on and 30% or so is probably a good balance. However the circumstances differ widely from company to company. It may be useful to set an objective for the rate of growth of a company's earnings. Some have picked rates such as 15% per annum compounded. Others have set a target in real terms which might appear as 10 or 11% plus inflation. Obviously the arithmetic of compound interest is very attractive; however in practice there is much variation. Indeed current returns from existing operations swing widely with the business cycle and there is no assurance that economic new properties will be found according to someone's arbitrary time schedule. For example, Western Mining Corporation Limited in Australia explored for 30 years with little to show for it, but then found the great Australian nickel deposits and more recently the huge Roxby Downs copper. That long dry spell could not have fitted anyone's arbitrary calendar of growth and yet they would not have found such orebodies without that long period of effort. Should they have abandoned the search? Once a new property has been found or acquired there has to be a threshold rate of return on the new capital to be invested against which to evaluate the property's economics. Conventionally this seems to be 15% after tax, a number common in other heavy industries as well. In some cases it is expressed as a lower number plus allowance for inflation. Discounted cash flow analysis is a very useful tool but it does not make the decision. In the end a "go" decision depends on judgment of many factors some of which are numbers used in the DCF calculation whose credibility must be examined. It is curious how frequently investment proposals come in with the rates of return very close to 15%. The project advocates know that a number much less than 15% will not fly and that a number much more is not necessary. With much higher nominal and real interest rates of recent years, even though before tax, logic suggests that the hurdle rate should also rise. The power of compound interest is so great that 20% is very hard to achieve in any cash flow projection but 18% may be a sensible yard - stick. Once again it is remarkable how many project proposals come in with an 18% return. On the record the mining industry as a whole has not been overly restrictive in choosing its hurdle rates of return. This is shown by the abundance of metals in recent years and the failure of metal prices to keep up with inflation. All of the foregoing is standard text book stuff.

Jan 1, 1985

ONE of the morning sessions at the recent Annual Meeting was devoted to a Symposium on ways and means to expedite geological investigation, and also to promote greater prospecting activity, in Canada. It will be recalled that at the 1940 Annual Meeting, held in Winnipeg, a paper(l) prepared by Dr. G. A. Young, Chief Geologist of the Geological Survey, was presented, and was followed by a Symposium on Geological Investigations in Canada(2). On that occasion, the participants were in the main geologists, and they included the directors or other officials of each of the Provincial departments or bureaus of mines. At the Montreal meeting, the subject was discussed mainly from the point of view of the mining industry. The following pages present, in somewhat summarized form, the several contributions to that discussion.-ED. DR. J. J. O'NEILL(3), who was to have opened the Symposium, was unfortunately prevented through illness from attending the meeting. He had intended outlining the main features of his paper on The Exploitation and Conservation of Mineral Resources in a Balanced Development of Canada, presented at the last annual meeting of the Royal Society of Canada( 4). In his absence, DR.J. A. DRESSER presented a summary of the paper.

Jan 1, 1941

By Barbara J. Halpern

There?s no denying that mining is a male-dominated industry. Yet thanks to technologies developed over the last 20 years, societal changes in sex role stereotyping, individual determi­nation, and the willingness of companies to train women, there are no jobs in mining today where women are not represented. Women are drillers and electricians as well as drivers of heavy equipment and haulpack trucks. They perform jobs ranging from field exploration and metallurgy to clerical and janitorial and warehousing positions, from prospectors and underground blasters to geologists and land reclamation experts, from communicators to legal experts on mining law and more. The Women?s Mining Coalition, founded in 1994 to shepherd responsible legislative mining reform, estimates that 20 percent of the workers in the mining industry are women. Although women are concentrated in clerical and adminis­trative jobs, at least 10 percent are in non-traditional, hardhat jobs, claims the group. There are women in management, but the numbers in senior management remain small, especially in larger companies.

Feb 1, 1998

By A. S. Watts

The Bureau of Mines has been conducting an investigation of the feldspar resources of the New England and North Appalachian States with a view to greater efficiency and economy in their utilization. Such an investigation was deemed necessary, not only because of the continued and increasing consumption of these minerals, but especially because of the demand for better technical control of the raw materials that are used by the white-ware industries of the United States. Most manufacturers of white pottery wares have only a limited knowledge of the origin, mode of occurrence, and methods of mining and preparation of the materials that they use. Heretofore, owing to a belief that the supply of raw material was unlimited, the manufacturer had concerned himself chiefly with the solution of the problems of manufacture. Within the past few years, however, it has been found that difficulties arise in manufacture which can be traced beyond the manufacturing process and are believed to be due to a need of better control of the materials used. Furthermore, as competition becomes more severe, more attention must be paid to selection of materials in order to minimize consumption and also to avoid unnecessary expense for transportation of material. Doubtless the lack of interest as regards these details has arisen from the fact that in the past a considerable proportion of the whiteware ingredients has been imported and the manufacturer has been forced to rely on the samples submitted and the general uniformity of the source of supply to insure against variation of the material. An extra precaution arising from this lack of definite knowledge still prevails in the common practice of never depending on one source of supply for anyone ingredient. Often the products of three or more producers are blended so that if anyone shall vary without warning the variation arising from its use will not be sufficient to ruin the ware.

Jan 1, 1916

By F. E Turton

THE town of Rancagua, at the junction of the state and Braden Copper Co. railroads, is located 82 km south of Santiago, the capital of Chile. From Rancagua 70 km to the east, situated in the Andes at an elevation of 7000 ft, is the town of Sewell, the location of a millsite. Two and one half km east of Sewell by underground railroad at an elevation of 7500 to 10,000 ft is the Teniente ore-body. The history of El Teniente dates from the eighteenth century, when according to legend a Spanish lieutenant, or teniente, a fugitive from justice, escaped to the Andes and camped at what afterwards became known as the Mineral El Teniente. This man reputedly discovered a vein of high grade copper ore. The first official records date from 1819, when some exploitation was begun, and continue until 1870. The orebody was large and of relatively low grade and was beyond the capabilities of the small groups attempting to operate it. No effort was made to erect a concentrator until William Braden became interested in the property. In 1901 Mr. Braden promoted the necessary capital for the first practical exploitation of the ore-body. Barton Sewell and E. W. Nash, both of the

Jan 1, 1953

By F. E. Turton

THE town of Rancagua, at the junction of the state and Braden Copper Co. railroads, is located 82 km south of Santiago, the capital of Chile. From Rancagua 70 km to the east, situated in the Andes at an elevation of 7000 ft, is the town of Sewell, the location of a millsite. Two and one half km east of Sewell by underground railroad at an elevation of 7500 to 10,000 ft is the Teniente ore-body. The history of El Teniente dates from the eighteenth century, when according to legend a Spanish lieutenant, or teniente, a fugitive from justice, escaped to the Andes and camped at what afterwards became known as the Mineral El Teniente. This man reputedly discovered a vein of high grade copper ore. The first official records date from 1819, when some exploitation was begun, and continue until 1870. The orebody was large and of relatively low grade and was beyond the capabilities of the small groups attempting to operate it. No effort was made to erect a concentrator until William Braden became interested in the property. In 1901 Mr. Braden promoted the necessary capital for the first practical exploitation of the ore-body. Barton Sewell and E. W. Nash, both of the

Jan 1, 1953

By Paul M. Tyler

ROUGHLY one-half the value of mineral products at mines or quarries must be spent for wages. In view of the steady increase in hourly wages that continued for several decades prior to the onslaught of the recent depression, it is perhaps surprising to discover that labor's share of the gross proceeds of the mining and quarrying industries of the United States declined to 46.8 per cent in 1929, compared with 52.2 per cent in 1919 and 53.2 per cent in 1909. The actual percentages vary in different branches of the industry and in different localities but the downward trend is unmistakable. For the period 1909 to 1919 it was quite marked in every industry and from 1919 to 1929 it was apparent in all but six: namely, gold and silver lode mining, placer gold mining, crude gypsum production, marble quarrying, asbestos production, and fluorspar Tninino mining

Jan 1, 1933

By James B. Templeton

"IntroductionWith the steady rise of the cost of coal and freight, the time is now ripe for an investigation into the feasibility of using the heat pump for heating purposes in fairly remote industrial areas.The gold mines of northern Ontario seemed to be a most likely place for the application of the heat pump.It was decided that the first step in the investigation would be to determine what economic advantage was to be gained by using the heat pump and thereby determining whether a further and more detailed research programme was warranted.If we can use the heat pump with economic advantage, we can reduce our mining costs and make a worthwhile contribution to our national economy by reducing the import of U. S. coal.The investigation was conducted under the auspices of the Nipissing Fellowship and directed by Professor R. E. Barrett of the Department of Mining Engineering, University of Toronto.With the able guidance of Mr. C. S. Gibson, of the Mines Accident Prevention Association of Ontario, the author visited the following mines: Mcintyre-Porcupine, Delnite, Dome, Lake Shore, Wright-Hargreaves, Kirkland Lake, Macassa, and Kerr Adcliso11.In all cases, the management and technical personnel of these mines were most co-operative and helpful in supplying information and ideas.It should be emphasized at the outset that the design and operation of the heat pump itself is by no means complicated or even new. The reason we hear so much about it today is because there have been improvements in compressors, motors, and heat exchangers in the past few years, and because fuel and freight rates have risen to such a point that, in some cases, the heat pump now has an economic advantage over other methods of heating."

Jan 1, 1950

This paper critically reviews the role of institutional research contractors (eg universities and the CSIRO) in the delivery of effective research, development and demonstration outcomes in mineral and coal processing to the Australian mineral industry. The criteria by which such R&D is justified, and the problems of quantifying the benefits of such research, are considered. Third-party funding mechanisms such as NERDDP and AMIRA are reviewed in the context of the difficulty of setting national research priorities. Some case studies are presented which illustrate both the problems and the advantages of institutional research for industry. The transfer of research outcomes to industry is identified as a significant problem which limits the effectiveness of all institutional research. Other topics reviewed include research management, the relationship between industrial companies and their research contractors, and the real costs of research. The paper offers suggestions for the ingredients needed for a successful industry-institution relationship, based on the Australian experience. It is concluded that the Australian model for this relationship is a very effective one, although there is still room for improvement.

Jan 1, 1992

By William H. Shockley

THERE was an, extensive mining and industrial exploitation of Russia, about 20 years ago, by Belgian, French and British capitalists; but the results were discouraging. It is said that the Belgian and French public together lost approximately $400,000,000, chiefly in the coal and iron industry of southern Russia. This loss is largely accounted for by the fact that most of the companies were formed, as usual in " boom " times, to sell stock; and that thorough investigations were not made. In 1906, renewed interest was taken in Russian mines, especially in those of gold and copper, and a considerable literature is growing on this subject; but as yet I have seen no account of one of the large Russian mining estates. The following notes on such property, where the conditions are so different from those in the mining regions of the United States, should be of interest This inadequate and probably somewhat inaccurate account is made up, partly from my own notes made on the ground, in the summers of 1904 and 1905, and partly from a volume on the geology and resources of the estate issued several years ago, containing surface-and mine-maps, and from a pamphlet published in 1904, giving a general account of the condition and prospects of the property. This pamphlet includes a report made by Arthur L. Pearse, a member of this Institute, in 1899. Both these books are in Russian, and were prepared by the Bogoslovsk Mining Co., which owns and operates the property. Articles in many other languages have appeared dealing with various matters connected with the estate; but I know of no other general account of it. In numerous books and articles on the Urals and Siberia, however, localities are described in which somewhat similar conditions prevail. Recent papers by

Mar 1, 1908

By Jim McKinley

With a growing number of mines reaching closure and seeing closure costs materialize, regulators, lenders, and banks are observing projects that fail economically by miscalculating these costs. Mine closure costs are often categorized as a type of liability which is defined as the money owed by the company to offset effects from the project, and the money available to pay for those debts (e.g., bond). Often, decisions made before Day 1 of mining (e.g., co-disposal, dry stack tailings, waste segregation) can significantly change the bond calculation. Once the bond is calculated and funded, operators are encouraged to conduct closure research and use applied science for progressive bond release prior to final closure. However, this author has observed few instances of financially significant progressive bond release, as there are typically no robust procedures for bond return, either before or during closure activities. As a result, many companies decide that entering a state of Care & Maintenance (C&M) is less risky than attempting to fund closure activities with an unknown bond return mechanism. Although perhaps less risky in the short-term, the primary long-term risk with entering C&M is that it increases the chances of the bond not covering the cost of closure and the chances of the government/regulatory agency inheriting the mine closure. Bonds are typically reevaluated on a regular cycle (e.g., five years) so every mining company goes through this financing challenge eventually.

Feb 22, 2026

By Oliver Bowles

AUTOMOTIVE TRANSPORT by highway, which has become indispensable to modern life either in peace or war, involves the use of powerful machines, many of which travel at high speed. To start, accelerate, and stop each motor vehicle demands the use of clutch and brake. Friction is applied intensively to both these mechanisms, and their linings must therefore be of materials that will resist wear and that will not ignite with the heat of friction. Asbestos, that curious fire-resisting: natural fiber that may be woven into unburnable cloth, is eminently suitable for this special' use, and no satisfactory substitute for it has yet been found Because- asbestos is regarded as absolutely essential to all types of motor transport on land, and in addition is indispensable to. many .other kinds of machines and equipment, the situation of the- United State's with respect to supplies of-raw-material-is of special interest: From the standpoint of national self-sufficiency, conditions are far, from satisfactory, for United States mines furnish only three to four percent of the total domestic require-

Jan 1, 1938

By Shujian Jia, Mingming Song, Gaoyang Song, Bo Song, Yuhou Yang

An innovative method is investigated to separate inclusion particles from liquid metal by super gravity. To make clear the characteristics of the inclusion separation, Al melt containing MgAl2O4 particles with diameters less than 150 μm has been treated under various super-gravity fields. The thickness of particle-accumulated layer formed at the bottom of the sample and the area fraction, number density and size of inclusions were measured. It is found that the thickness of the particle-accumulated layer decreases and the area fraction of particles at this location increases with the increase of super-gravity field. With the gravity coefficient G=500, time t=2 min, and temperature T=1023 K, it is hardly to find any solid particles in the upper and middle areas of the sample and the separation efficiency is up to 90%.

Jan 1, 2015

By Clifford S. Gibson

THE Workmen's Compensation Ace defines Silicosis as "a fibrocic condition of the lungs caused by the inhalation of silica dust sufficient co produce a lessened capacity for work". This fibrocic condition muse exhibit a specific appearance in the X-ray picture of the chest-an appearance which is not characteristic of several lung conditions which can cause lessened capacity for work and which are not due co silicosis. The layman is sufficiently familiar with this subject co know chat, as far as our knowledge goes, quartz is one of the principal objectionable factors in the production of this condition. He should also know that silicosis respects neither geographical nor industrial boundaries. It is as much a factor in some industrial processes (e.g. foundry work, sandblasting) as it is in mines handling ores containing quartz. Its development co a recognizable stage is usually a matter of many years. As yet, its cure is unknown. Its prevention is possible in varying degrees. The layman should also know that the development of fibrosis may be accelerated by breathing in, or living in, any atmosphere containing dust. Few normal adults, particularly those above a certain age, have clear lungs, and fibrosis in varying degrees is noted in the farmer, the steel worker, the clerk, and many others in varied occupations. It is not restricted to miners. Medical and industrial journals, and at times the press, are crammed with data pertaining to this subject, much of which is misinformation. This is particularly true of certain !laces where the preventive and compensation measures for the good o those earning their livelihood in an industry in which silicosis may be contracted are not so far advanced as in our own Province. A great many of these publishings are alarming to the layman. They leave him with the impression that he is taking his life in his hands if he elects to work underground, particularly in a gold mine-that he has at once sold his heritage of health and chat sooner or later he will succumb to the ravages of this ailment. Nothing could be farther from the truth. Actually, under present conditions in Ontario mines, a very small percentage of the men employed ever become impaired by silicosis to the extent chat they must withdraw from the industry. I propose to tell you briefly something of this subject as it affects our mines.

Jan 1, 1937