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By k. Lebecki, S. Trzcionka

The prototype and test results of the instrument for quick determination of incombustible content in deposited dust as a protection against coal dust explosion propagation are presented. Presently existing methods do not permit to obtain quick information about incombustible content, needed for the proper protection of workings. As the operating principle for the e instrument the dependence of reflection of infrared radiation intensity on incombustible content in the sample is chosen. The construction is based on the modern electronics. The measurement will be done at the sampling site. The range of the instrument is 0-100% of incombustible, direct reading, autonomous supply, weight no more than 0.5 kg, and is intrinsically safe according to EN Standards. During the Conference the instrument will be commercialized.

Jan 1, 2003

By Parker A. J, Ruane M, Wadley L. G B

Copper, sulphur, nickel, cobalt, palladium, silver, and gold can be recovered from the copper sulphide precipitated from the "copper boil" of the Sherritt-Gordon nickel process used at Western Mining Corporation's Kwinana nickel <refinery. The method is based on an oxidative ammonia leach of copper, nickel, and the precious metals at temperatures below 40°C to produce, in part, elemental sulphur, in the residue. This is followed by heating to decompose thiosulphate and remove some ammonia with precipitation of some of the copper, palladium, gold, and silver. Addition of sulphur dioxide to pregnant liquor precipitates copper, as either Chevreul's salt or copper(I) ammonium sulphite, together with the remaining gold and silver. Less than 10 per cent of the dissolved palladium and less than 1 per cent of nickel and cobalt precipitate to this stage.In one option, the Chevreul's salt is dissolved in a solution of copper(II) sulphate, acetonitrile, and water to generate a solution of copper(I) sulphate. Gold and silver do not dissolve. The solution of copper(I) sulphate is thermally disproportionated by distilling acetonitrile to give exceptionally pure copper powder, with desirable characteristics for powder metallUrgy. Nickel, cobalt, and ammonium sulphate are recovered from the motherliquor of the Chevreul's salt precipitation by return to the Sherritt-Gordon process, where recovery procedures already exist. Palladium is recycled for eventual removal as a sulphide with the gold and silver.In the other option, solid copper(I) ammonium-sulphite is <thermally disproportionated in water at 150°C to copper powder.

Jan 1, 1978

By Michael Olmsted

Inspection of boreholes prior to blasting can result in cost reductions as well as increases in efficiency and safety. Until recently, borehole inspection was performed in two manners. For simple inspections, a flashlight was used to view the upper part of the hole. More thorough inspections were performed with long tool strings developed for oil field applications. Borehole inspection tools developed specifically for mining and blasting applications have now been developed. Video Cameras developed for borehole inspection have been in service for several years. Now measurement tools are available, developed specifically for mining.

Jan 1, 2000

By J. P. McGee

As part of a joint U.S. Atomic Energy Commission-Federal Bureau of Mines program for using nuclear energy to supply process heat, a simulated nuclear loop has been constructed to test components. This loop has been operated for more than 1,800 hours at 100 p.s.i.g. Of this period, 23 hours were at 2,500° F. and higher; 540 at 2,000° to 2,500° F.; 840 at 1,500° to 2,000° F.; 200 at 1,000° to 1,500° F.; and 260 below 1,000° F. Leakage at flanges and welds was not a serious problem. A helium-recycle system with gas temperatures of 2,300° to 2,500° F. and a static pressure of 250 p.s.i.g. appears feasible. Difficulties were encountered with the recycle compressor due to thermal distortion of the impeller and shaft. The use of sealed bearings limits compressor operation to the life of the bearings.

Jan 1, 1960

By John V. Beall

Probably it won't happen to us again in a thousand years, but it was very embarassing at the time. It is only because of certain matters that have come up this month that we tell you at all about it. At the beginning of our trip to Peru and Chile last summer, we were flying with Bill Haddon from Lima to Tacna aboard Fawcett. Being an old hand at foreign travel, particularly in South America, we felt obliged to explain some of the special features of travel in Latin America and the niceties of etiquette in particular and were so engaged when the plane landed at the airport. We led the way briskly into the terminal, expecting at any moment to have a representative of Southern Peru Copper pop up and present himself. However, this didn't happen so we repaired to the baggage arrival station to wait. All the bags were quickly picked up, but ours were no where to be seen. Bill was slightly agitated because the plane was being buttoned up for take off. However, rising to the emergency with our usual aplomb, we took charge of the situation. Brandishing the claim checks under the nose of the porter who pointed to them and said, "si, Tacna," we nodded briskly and in our serviceable Spanish said "si se[n]or, vayase viejo, rapido." He was off and back with our suitcases quickly enough.

Jan 1, 1970

By J. R. Levin, E. J. Schelter

"We present some of our recent efforts in the development of predictive, directed oxidation chemistry of cerium(III) complexes under non-aqueous conditions. The electrochemistry of cerium(III)- alkali metal heterobimetallic aryloxide complexes is reported and compared with cerium aryloxide complexes that are kinetically stabilized by hydrogen bonding cations that span between the complexed aryloxide ligands. Comparative electrochemical measurements reveal differences between the heterobimetallic complexes and the hydrogen-bonded complexes.INTRODUCTIONThe rare earth elements comprise the lanthanides, La–Lu, and the element yttrium (Aspinall, 2001). Rare earth ores such as monazite, LnPO4, and bastnäsite, LnFCO3, typically bear mixtures of light rare earths: La–Sm while monazite, LnPO4, contains mixtures of heavy rare earths (Eu–Lu) (Cotton, 2006). Pure rare earth elements typically are isolated using a liquid-liquid separations process.(Bautista, 1995) The hydrometallurgy of these elements is a difficult problem because the separation factors between neighboring rare earths, which are predicated on the small differences in the sizes of the trivalent ions, are quite small (Cox, 1992). The element cerium, with its 4f1 electronic configuration in the trivalent state, is unique among the rare earth elements due to a relatively accessible 4f0 electronic configuration. The accessibility of the 4f0 configuration underlies the chemistry of cerium(IV), the only rare earth ion with molecular chemistry in the tetravalent oxidation state (Cotton, 2006). Cerium is trivially separated from mixtures of light rare earths by making use of its unique oxidation chemistry. In an effort to extend separations chemistry by oxidation reactions to other rare earth elements such as terbium and praseodymium, the solution electrochemistry of well-defined cerium complexes is of interest."

Jan 1, 2012

By L. A. Rose

AMONG the half-dozen major research search projects now being conducted at the Michigan College of Minim, and Technology under the terms of an FERA grant, an important one relates to the use of suspensions in ore dressing. The study has resulted from the constantly widening industrial use of metals and minerals. The modest demands of a few decades ago for these minerals could be easily met from richer deposits. Now, at least in some localities, the richer deposits are nearing exhaustion. Furthermore, advances in the industrial arts and the competition of other minerals and metals have changed the specifications of materials needed by the manufacturers. Premiums and penalties enter into the sale value. Hence, to meet the requirements for amount and quality, washing and other ore-dress-

Jan 1, 1935

By George S. Rice

"INTRODUCTION During the past 4 or 5 years the frequent occurrence of bumps in coal mines of the Cumberland field, in Harlan County, Ky., and Wise County, Va., has caused much apprehension among miners and mining officials of that region.These bumps have caused many deaths and injuries, and have been increasing in frequency. Eight men were killed and a number injured by bumps in the first 4 months of 1934. Their unpredictable occurrence and the usual absence of any preliminary warning tremors or sounds, such as ordinarily precede a large fall of roof, cause fear of other bumps and impair the morale of mine workers.Acknowledgments This report on bumps in coal mines of the Cumberland coal field of Kentucky and Virginia is based on an investigation made at the urgent request of .the Harlan County Coal Operators Association, through James F. Bryson, director of safety of the association, to the Director of the United States Bureau of Mines, following a series of disastrous bumps in. Harlan County, Ky., and Wise County, Va. The request was granted and the writer detailed to undertake the investigation, which was made in June 1934.The officials of certain operating companies in the Cumberland field gave every facility for examining the conditions accompanying bumps in their mines. The writer is most grateful to them for the courtesies shown; to J. F. Bryson, to J. F. Davies, district engineer, Safety Division, U. S. Bureau of Mines, who accompanied the writer throughout his trip to the vari¬ous mines and gave him much assistance and detailed information regarding the occurrence of bumps; and to Dr. David White for reviewing the geological descriptions,Definition of Bumps ""Bumps"" are phenomena comparatively rare in the coal fields of the United States and, for that matter, in the coal fields of the world, because for their occurrence certain exceptional natural conditions are required strong, massive strata of sandstone or conglomerate above the coal and a fairly strong floor, as will be described in detail later."

Jan 1, 1935

By O. A. Olaseinde

The 2101 lean duplex stainless steel has wide potential application in storage, heat exchangers, and in the oil and gas industries. This work investigates the electrochemical behaviour of 2101 duplex stainless steel with an addition of 0.15 wt% ruthenium, using potentiodynamic techniques in 1M H2SO4 at 25º, 40º, 60º, and 80ºC. The microstructures of samples were characterized using optical metallography and scanning electron microscopy. The results showed that the ruthenium addition moved the corrosion potential of alloy 2101 to a more positive potential. All samples containing ruthenium displayed longer passive regions at 25°C and 80°C compared to those without ruthenium. Alloys without ruthenium had higher critical current density (icrit) values when compared to the alloys with ruthenium. Ruthenium additions decreased the passive current densities and inhibited anodic dissolution. At room temperature the corrosion rate of alloys with ruthenium was lower than these without ruthenium.

Jan 1, 2012

By Song Jiang, Xianzhi Tan, Minjie Lian

"The ground water heat pump system lades underground hot water which can be heated or cooled by heat exchanger in water source heat pump air conditioner. This system replaces the model of heating of air-conditioning by refrigerator and boiler. In this paper, the formation conditions of hot water energy in Shan Dong are analyzed in order to achieve the purpose of energy conservation and emissions reduction by taking full advantage of water resources such as water pouring and return water of beatification during the productive process of underground metal mine. In order to analyze the issue better, the paper points out some ways and methods for geothermal water often used in underground metal mine. This paper also presents the advantages of the technology of water source heat pump that is applied into underground metal mine. Here is a case study of comprehensive utilization of water source in a certain underground metal mine in Ji Ning. This mine, according to its own actual situation, designs heat pump heat exchange system which is used for indoor heating of buildings and bath for staff. It turns out that the system can save 23% water per year, cut down 3.303 million KW electric energy, and reduce 4160t emission of carbon dioxide. It is concluded that the technology of water source heat pump has broad application prospects in underground metal mine. Therefore, the results show that it is an ideal way to change the present structure of cooling and heating source in metal mine.Introduction In recent years, overuse of fossil fuels has posed a grave threat onto the environment, which makes renewable energy a more important status in energy structure. Development and utilization of renewable energy has become an important direction. Water source heat pump technology is to use solar energy stored in water as cold/heat source to convert energy. Currently, this technology has been widely used in some advanced countries. However, due to facers of implementation technology and component costs, there is still a gap in water source heat pump technology between China and these advanced countries. According to (Blum et al 2011) that after in-depth study, water source heat pump technology has developed rapidly in China recently, and the gap is gradually reduced. Groundwater source heat pump system as a kind of high efficiency, energy-saving and environmentally friendly technology in recent years, more and more get the people's attention. At the same time, its practical application has also been rapid development. Based on (Ni et al 2015) that According to the relevant departments of the prediction, the technology will become the 21st century the most efficient heating and cooling technology."

Jan 1, 2017

By T. Wallmach, S. B. Blancher, A. Delaporte, P. Goncalves

"Fe-Ti oxides concentrates produced from heavy mineral sand deposits are widely used for the production of titanium dioxide pigments that are critical components of white paint, plastics and paper. According to mining industry, the Fe-Ti concentrates mostly consists of three phases: ilmenite, leucoxene and rutile. However, a few mineralogical studies have shown that the variety of Fe-Ti oxides found in sand deposits is far more complex, mostly due to alteration processes. The aim of this contribution is to characterize in detail by means of Qemscan analyses the mineralogy of the three main concentrates (ilmenite, leucoxene and rutile) produced by the Grande Côte Operation (GCO) mineralurgical plant in Senegal. The ultimate goal is to characterize the different products and textures formed during the natural ilmenite alteration processes, to localize the phases carrying the main impurities (Cr and P), and finally to determine the physical properties of each mineral component to improve metal recoveries. Along alteration processes, Ti content increase. Ilmenite (FeTiO3) is progressively transformed into pseudorutile (Fe2Ti3O9) particles which could also be altered and transformed into hydroxylian pseudorutile [FeTi6O12(OH)3.3H2O] or complex blends of anatase microcrystals (TiO2). These transformations are accompanied by significant changes in particle textures. Microporosity and fractures appear and the impurity content also increases. Anatase rich microcrystal assemblages, so far described as Leucoxene, could be identified to consist of grains with higher porosities, water contents and higher intrapore impurities. These particles are the main carriers of chromium and phosphorus. The observed mineral transition textures have a significant impact on the ore dressing processes. During these transformations, the physical properties of these phases change, the magnetic susceptibility as well as densities decreases, due to the increase in porosity. The separation of particles, especially those with high porosity will help improving the GCO mineralurgical plant performance and to reduce the impurity contents in finals products."

Jan 1, 2018

By Mark Van Dyke, Mark Mazzella, Gamal Rashed, Nicole Evanek, Brent Slaker

In the past decade, there have been several incidents of massive ground collapses in underground stone mines in the eastern United States. Fortunately, these events have not resulted in any fatalities. However, three mine workers were injured and many others were at risk due to the hazard from the fall of ground and/or the airblast associated with these massive collapses. The National Institute for Occupational Safety and Health (NIOSH) initiated a project to better understand the causes of these massive ground collapses to help prevent their future occurrence. The main objective of this study is to investigate the main factor(s)that initiated one of these massive ground collapses. The authors relied on several tools including three-dimensional (3-D) LiDAR scans for the surface subsidence feature and the underground mine workings around the collapsed area, borescope data at multiple locations around the collapse, S-Pillar analysis for average and unfavorable conditions, and numerical models. The emphasis has been placed on the impact of the following limestone pillar stability parameters: pillar width-to-height (W/H) ratio, benching, the existence of karst features, weak roof, and geological discontinuities. 3-D LiDAR scans were utilized to show the shape and the extent of karst cavities observed within stable pillars around the perimeter of the collapsed area. Together, this coupling of field measurements and observations and modeled systems suggests the potential causes of the collapse.

Jul 1, 2023

By J Watt

The Hidden Valley Gold Project is located in a remote and mountainous area of the Morobe Province approximately 30 km south of the township of Bulolo and approximately 90 km south-southwest of the provincial capital, Lae. The Hidden Valley deposit was discovered in 1984 with the nearby Hamata and Kaveroi deposits discovered in 1987 and 1992 respectively. Reserves (Harmony, 2009) at these three deposits are 42.1 million tonnes of ore containing approximately 2.9 million ounces of gold and 45 million ounces of silver. A further 5.4 million ounces of gold and 84 million ounces of silver are in the resources category. The process plant is designed to treat 4.2 million tonnes per year of gold/silver ore extracted by open cut mining methods. Ore is classified into three ore types according to oxidation state: oxide, transition and primary. The silver to gold grade ratio is high for the Hidden Valley and Kaveroi ores, generally in the range 15 - 20:1, and much lower for Hamata, typically 1 - 2:1: Primary ore is the dominant ore type at Hidden Valley with sulfur grades up to about two per cent sulfur. Oxide and transition ores are more prevalent at the Hamata deposit, but its primary ore has up to five per cent sulfur grades. Variable ore types, particularly in the initial years of operation, high silver to gold ratios and limited plant site area, due to the challenging terrain, present the main processing challenges for this project. This paper describes the operating strategies and process development for the main areas of this circuit, highlighting selections of processes and equipment that achieve cost effective, yet flexible solutions to the treatment of ores from these deposits.

Jan 1, 2009

By Cyril Stanley Smith

THE art of metallography is mature and the forms in which various micro-constituents appear are well known. Investigations almost without end have disclosed the importance of the exact manner of distribution of phases on the physical properties and usefulness of an alloy. Surprisingly, however, relatively little attention has been paid to the forces that are responsible for the particular and varied spatial arrangements of grains and phases that are observed. Like the anatomist, the metallurgist has been more concerned with form and function than with origins. In this paper it is proposed to develop the simple concept that many microstructures result from an attempted approach to equilibrium between phase and grain interfaces whose surface tensions geometrically balance each other at the points and along the lines where they meet. From this follows a number of principles which may prove to be of interest to the metallographer and of practical use in explaining failures and in designing alloys for particular service. In general, the discussion will be limited to structures obtained after full annealing. The simple principles do not apply to structures resulting from Widmanstatten mechanisms in precipitation, or to other structures not in local equilibrium and in which lattice coherency is a determining factor. INTERFACIAL TENSION Much has been written by physical chemists about the free energy of surfaces, which manifests itself as a measurable surface tension. Two- and three-phase interfaces in fluids seek a condition of minimum energy and approach a geometrical configuration in which the various forces are in vectorial balance.* Measurement of the angles established between the interfaces when in equilibrium provides a quantitative value for the relative value of the surface forces involved. The case of two fluids meeting at the surface of a solid (of great importance in connection with the flotation of minerals) has often been studied, but there have been few investigations of the equally definite interface between two or more crystals of a single solid phase, or the more complex cases where crystal grains of more than one phase are involved. The principles are best illustrated by considering first the case of two and three immiscible liquids. If, as in Fig I, a liquid, 2, is dropped into a less dense liquid, I, it will form a sphere-if gravity and viscosity can be ignored-for in this shape the interface has the smallest possible area. If these two phases should together encounter a third phase in which they are both immiscible, the geometry will change to become that which gives the lowest total energy for all three interfaces. Thus, if the spherical drop of liquid, falling through r, eventually reaches the interface between liquids 3 and I (we are assuming that the density of 3 is greater than 2, and 2 than I), it will assume the shape of a lens, the angle

Jan 1, 1948

By W. L. Staker

The Bureau of Mines investigated selective extraction of Au and Ag from a low-grade Au ore containing Hg. Gold and silver were extracted from the ore in cyanide slurries, and Hg extraction was suppressed with sodium or calcium sulfide. Maximum Au extraction and minimum Hg extraction were obtained using solutions containing 0.34 lb NaCN/ton of solution. Increasing the cyanide concentration increased Hg extraction without increasing Au extraction. Mercury extraction from the ore was suppressed with 0-5 to 2.9 Pb CaS/lb Kg in the ore. Gold-to-mercury ratios of 100:1 to 400:1 were obtained in the leach solution, and on the activated carbon in a CIP circuit.

Jan 1, 1983

By G. E. Mellor, R. E. Lippoth, T. B. Faddies

The Trixie mine is located in the East Tintic Mining District. Since production began in 1970 over 450 000 tonnes of ore grading 239 grams of silver, 6.9 grams of gold, and 1.2% Cu have been mined from veins in Cambrian Tintic Quartzite. Detailed geologic mapping and extensive sampling are essential for compiling the data base required for efficiently developing and mining known reserves as well as planning exploration and development work. Although the basic techniques used by the geology group at the Trixie were developed many years ago, the reduced activity in underground precious metal mining in the U.S. have made these techniques less familiar to many presently active geologists. The increased activity in precious metals search and exploration again offer cause for the application of these techniques as a prerequisite to efficient exploration, development and production.

Jan 1, 1984

By Robert F. Chaiken, Alex C. Smith

INTRODUCTION The National Institute for Occupational Safety and Health (NIOSH) at its Pittsburgh Research Laboratory (PRC) is interested in the application of water mist sprays to extinguish diesel fie1 fires in underground mine diesel refueling areas. To this end experimental studies have been carried out on the extinguishment of diesel fuel fires at PRL's large enclosed fire suppression facility (FSP) at its Lake Lynn Laboratory (LLL). Two sizes of shallow fuel pans (3x3 ft and 5x7 ft) contained the fires, and a number of commercial mist spray nozzles (at roof locations) and spray/fire locations were tested (52 fires in all). Visual observations of the pool fire extinguishment process by the overhead sprays with an infra-red sensitive videocom suggests that there are two distinct actions involved in extinguishment due to two different transport mechanisms by which the water droplets can enter the fire plume. First, is a direct injection of water droplets into the plume from overhead. This is believed to involve larger water drops and leads to an extinguishment time of several minutes. Second, is an indirect injection process involving small water drops which are entrained in the sideways air flow that feeds oxygen to the fire. This second process apparently leads to relatively fast quenching of the fire in less than 1 minute - a highly useful attribute for a fire protection system. This paper describes a relatively simple parametric model for the indirect water injection process, and defines the critical spray conditions for achieving rapid quenching of the pool fire. While the model is consistent with the pool fire data obtained to date, the PRL studies are continuing with more complex pool fire scenarios. It remains to be seen if this simple parametric approach applies to these future fire tests. THEORETICAL Critical Drop Size In the two-dimensional representation of figure I, an oil pool fire is considered to be a cone whose base is the vaporizing liquid oil surface having an area n?, above which exists a fire plume diffusion flame) of height, L. The rising plume induces a horizontal air flow into the side of the plume supplying the oxygen necessary for propagating gas phase combustion reactions. Water droplets suspended in the air around the plume will tend to follow the horizontal air flows into the plume. The rate of air entrainment by the plume will be determined by the overall combustion reaction which is assumed to be

By HAROLD A. TITCOMB

TOWARD the close of 1925, a British geologist, T. Landell Mills, brought to the notice of .A. Chester Beatty and selection Trust Ltd. certain mineral areas in southern Yugoslavia. Mills' data, which included rough maps and preliminary reports by' a Yugoslav engineer, Jules Draskocy, appeared interesting to Reatty, and early in 1926, I, with three British assistants, proceeded to Serbiaand commenced the investigation of several groups of ancient mine workings. They were found to be extensive and the geological conditions-schists, limestones, and andesitic intrusive-favorable for mineral deposits. At Stan Trg, on the Trepca Concession, five rniles east of Kosovska Mitrovica, an ancient filled adit was found, a shelter-hut erected, and work started in reopening this adit.

Jan 1, 1936

By Jos. Kalbhenn

PART of the plan of re-allocation evolved by the engineers of the Dominion Steel and Coal Corporation in 1932 to retard the rapid advance of the submarine workings seawards was the opening of Dominion No. 20 Colliery, in the Harbour seam, by a pair of cross-measure tunnels from the workings of an older mine working the Phelan seam, which lies 430 feet below the Harbour seam. The tunnels, 8 ft. by 13 ft. in size, were started away from the old workings of Dominion No. 2 at a point 1.5 miles beyond the shore line and were driven on a rising grade of 1 per cent for a distance of 5,335 feet, tapping the Harbour seam at a point 2 ¼ miles off-shore. For transportation and ventilation, shafts and roadways already existing in the Phelan seam were made use of during the stages of development and up to the present time. One of the two tunnels served as a main haulage road and an intake airway, and the other as a return airway and travelling road. However, as the workings of this new colliery expanded, the need for additional airways arose as was anticipated when the plans for the development were formulated. To meet this need, work was started on October 1st, 1942, to establish a new opening between Nos. 2 and 20 Collieries in the form of a vertical shaft to provide a passageway for the ventilating air current of some 250,000 cubic feet per minute on its return to the upcast shafts in No. 2 Colliery, thus making both tunnels available for intake airways. In the interest of safety, speed, and economy, the shaft was raised from the Phelan to the Harbour seam. It is 20 ft. by 12 ft. in size and, with the exception of three timbered compartments across the narrow end, is untimbered. One of the three timbered compartments housed the ventilating tubing and pipe lines, the centre one served as a cage-way for hoisting men and material during the operation of raising, and the third one contained a ladder way. The rest of the shaft was filled with debris during the period of shaft raising.

Jan 1, 1944

By Alexander Sutulov

1. INTRODUCTION According to the classical economic approach of the open market economy, copper supply should be regulated by market forces which are (a) demand and (b) prices. In fact, demand is of primordial importance because prices are a reflection of supply-demand balance: they go up in times of shortages of supply and down when over-supply situation exists. In the past few years, this basic mechanism of market economy has been under pressure from a number of non-market forces, such as social and monetary problems of sane important copper producing countries; structural changes in copper mining companies through mergers with oil companies; and other factors which greatly contributed to distortion of the basic supply-¬demand equation. As a result, we have faced in the last three years a situation of oversupply rarely seen in the past, with a catastrophic fall in copper prices, huge losses at mines and unprecedented indebtedness of copper producers. This has deep repercussions in the copper business and its future supply outlook. This is particularly so when taking into consideration that high indebtedness and high interest rates conspire against the very survival of some traditional producers. As we write this comment (July of 1985), close to one half of U.S. copper production capacity is closed down, sane of it for good, while the same precarious situation exists in Canada, Australia, Zambia, and some other primary producers who cannot face present low prices with equally low costs. The question is then what this situation means for the medium-¬term future, until the end of this decade, Particularly when taking into consideration the fact that some of the factors influencing it are of a long-term character. 2. SUPPLY-DEMAND SITUATION IN THE LAST FIVE YEARS Since the last boon year, in 1979, when world copper consumption reached a record of 9.8 million metric tons of refined copper, demand dropped to only 9.0 million tons in 1982, when the crisis bottomed out, and then steadily recovered to the level of 9.7 million tons in 1984. Meanwhile, copper production, which in 1979 was only 9.4 million tons, in spite of the fall in demand, grew to 9.7 million tons in 1981 and 1983 and only temporarily was cut to 9.4 million tons in 1982 and to 9.5 million tons in 1984. As a result of this imbalance, hugh copper stocks were accumulated with supply systematically out¬growing demand by over 2 million tons at one time. With the Western World refined copper demand running at an average of 115,000 tons per week, this oversupply was equivalent to between 15 and 18 weeks production, i.e. twice as large as normal. This was immediately reflected in very low copper prices. Another contributing factor to relatively low copper prices was the lack of speculator interest for this commodity. Between 1981 and 1984 the world experienced a very intensive period of wealth distribution, high interest rates and intensive restructuring off world economy and its industrial sector. Therefore, much of the available money was attracted to more lucrative and attractive investments rather than to the lack-luster performance of copper, and for that matter, of the metal sector in general. The much announced and discussed recovery of the U.S. economy since 1983, and particularly in 1984, with an overall growth of the GNP by 6.8% in 1984, happened to be more oriented to the service sector than the industrial sector and therefore this recovery was not adequately reflected in copper consumption nor to metals in general. This put serious doubts about the future demand for copper. Consequently copper prices failed to improve in spite of an apparent fall in stocks and a healthy increase in the demand for copper since 1982. At the time of this writing (July, 1985), although same analysts claim that the available stocks are running at about 8 weeks of supply, which are considered to be below normal, copper prices are still very low at between 65 and 67 cents per pound of copper. Part of the answer may be the normal seasonal slow-down period in the Northern Hemisphere due to summer vacations and

Jan 1, 1986