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By J. E. Johnson

It is the purpose of the present paper, while not excluding chemical considerations, to deal more extensively with some of the physical and mechanical aspects of the blast-furnace process, and to point out its dependence, in these respects, on well-known laws. The quantity and cost of ore and flux required to make a ton of iron being determined by circumstances over which the furnace-man, under given conditions as to quality and quantity of product, has commonly little control, the principal item of cost, apart from the saving of labor, which he can aspire to reduce, is that of fuel. To determine the limits of possibility in this direction is clearly the first step in a practical inquiry; and this step is represented herewith in Fig. 1, a diagram showing the total useful effect obtained from a pound of fuel under various conditions, and thus permitting direct comparison, under any given conditions, between actual results and the maximum possible results. The following statements will explain the basis upon which this diagram has been constructed. One pound of fuel, containing 90 per cent. of fixed carbon (which represents average conditions), is taken as the unit. The degree of oxidation of the carbon is measured by the ratio of the two oxides of carbon contained in the top-gases. It is necessary to remember that a considerable quantity of carbon is brought in as carbon dioxide by the flux, and to take account of it and of its condition. It is here considered that the carbon dioxide liberated by the limestone does not affect the analysis of the top-gases, and that the ratio of CO to CO2 will remain unchanged by the addition of limestone; enough CO, being reduced by the solution

Jan 1, 1906

By John Fulton

THE increase in the production of iron has been accompanied by a growing demand for an improved quality, and more especially at the present time, in the manufacture of Bessemer steel, which is rapidly becoming an important branch of industry. This has led the makers of pig iron to a careful investigation of the composition of the materials from which their metal is produced, the inquiry being greatly assisted by a cordial alliance of science and practice. Formerly, chemical science was held in abeyance, or admitted in a hesitating experimental way ; but now it is received as a valuable auxiliary, and its decisions are accepted as final and conclusive. It is called on to assist the iron-maker in determining the quality of his stock, and to detect the presence of injurious elements in his fuel, ores, flux, or iron. The object of this paper is to submit the method now in use at the furnaces of the Kemble Coal and Iron Company in the Broad Top coal and iron region, for removing, by a process of crushing and washing, slate and other impurities from coal, designed, when coked, for furnace fuel. It is not contemplated to claim very advanced progress in this work, believing that it is susceptible of improvement, but to show that some progress has been made in a comparatively new field, and it is hoped in the right direction, since coke is probably destined to become the principal fuel in the metallurgy of iron. The Broad Top coal region occupies an isolated geographical position, standing 25 miles east from the Alleghany field. It is associated with the latter by the structure of its coal, and more closely with the Cumberland field by a similarity in the quality of coal.

Jan 1, 1875

By AIME AIME

THE Tuesday afternoon session", H. A. Bedworth chairman and T. S. Fuller, vice-chairman, was opened with D. J. McAdam, Jr.'s paper entitled "The Influence of Cyclic Stress on Corrosion." This paper dealt with the influence of cyclic stress on corrosion of alloy steels, corrosion-resisting steels, monel metal and aluminum alloys. The paper was discussed by T. S. Fuller, who pointed out that steels under stress corroded more than unstressed steels when subjected to steam.

Jan 1, 1930

By John Fulton

THE increase in the production of iron has been accompanied by a growing demand for an improved quality, and more especially at the present time, in the manufacture of Bessemer steel, which is rapidly becoming an important branch of industry. This has led the makers of pig iron to a careful investigation of the composition of the materials from which their metal is produced, the inquiry being greatly assisted by a cordial alliance of science and practice. Formerly, chemical science was held in abeyance, or admitted in a hesitating experimental way ; but now it is received as a valuable auxiliary, and its decisions are accepted as final and conclusive. It is called on to assist the iron-maker in determining the quality of his stock, and to detect the presence of injurious elements in his fuel, ores, flux, or iron. The object of this paper is to submit the method now in use at the furnaces of the Kemble Coal and Iron Company in the Broad Top coal and iron region, for removing, by a process of crushing and washing, slate and other impurities from coal, designed, when coked, for furnace fuel. It is not contemplated to claim very advanced progress in this work, believing that it is susceptible of improvement, but to show that some progress has been made in a comparatively new field, and it is hoped in the right direction, since coke is probably destined to become the principal fuel in the metallurgy of iron. The Broad Top coal region occupies an isolated geographical position, standing 25 miles east from the Alleghany field. It is associated with the latter by the structure of its coal, and more closely with the Cumberland field by a similarity in the quality of coal.

By F. M. Drake

IN this paper I propose to describe a plant which I lately erected for the Mount Stewart Lead and Silver Mining Company of Leadville, New South Wales, Australia. I am indebted to Mr. W. F. Burrow, of the Roads and Bridges Department of New South Wales, for the drawings which I present herewith, he having reduced and assembled them from my working drawings. The works are situated on a sloping hillside, but sufficient fall mas not available to have the furnace as high as desired, and at the same time have a good slag-tip and sufficient depth on the ore-floor to store a supply of ore and flux. The ore is delivered on the ore-floor (which is of the full width of the furnace-building, and extends back into the hill a distance of seventy feet) by two overhead tramways (not shown in the drawings), one on each side. From these the ore-mixture is made up on one side, while it is being taken to the furnace from the other. The fuel also is delivered by these tramways. The fluxes are stored on a floor directly at the back of the boiler and engine room. The boiler is a Cornish one, 6 feet 6 inches in diameter by 25 feet long. Its flue is 3 feet in diameter and does not contain Galloway tubes. The working-pressure is 40 pounds per square inch. The engine is an old-fashioned one, with a cylinder 16 inches in diameter by 30 inches stroke. Both the engine and boiler had been part of the plant of a defunct gold-mining company. They were very extravagant in their consumption of fuel. The blast is supplied by a rotary pressure-blower, of the Baker pattern, made in England. It has a capacity of 60 cubic feet per revolution. The furnace, which has several novel points, is shown in detail in Figs. 1, 2 and 3. The jackets are of cast-iron, and are higher than those generally used. They are different, too, in that the feedwater inlet is through a hand-hole plate near the bottom. This plate is fastened to the jacket by stud-bolts, and is provided with a baffleplate, which prevents the cooling water from impinging against the inner plate. The outlet is by a goose-neck at the top, which dis-

Jan 1, 1893

By Claus Becker

The new, 2.600 m long pipe under the river Elbe in Hamburg/Germany required for 2 traffic lanes, emergency lane and space for utilities a boring diameter of 14,20 m(46,6 ft). According the geology (glacial deposits consisting of clay, sand and marl, all containing big boulders) a Slurry-Shield with crusher was selected. With a minimum cover of 7 m and a maximum pressure of 5,6 bar extensive ground treatment was necessary to make the drive feasible. The machine contains a lot of new developments. The drive was finished in spring 2000 so all experiences can be reported. A special risk sharing contract avoided completely litigation.

Jan 1, 2001

By D. Doyle, T. Cienski

"This paper presents and discusses the results of a detailed study conducted on the subject of energy consumption in the comminution of industrial minerals. The study was based on pilot circuit testing, plant operating data collection, detailed equipment data and literature research. The areas covered by investigations include: high efficiency classification; air classifiers for cement grinding circuits; grinding aids in dry grinding; and dry grinding circuit control based on particle size measurement. Results obtained indicate a large potential for the reduction of energy consumption, in particular in the cement clinker grinding circuits. Better classification techniques and correct application of grinding additives can significantly reduce power used per tonne of product and also substantially increase grinding circuit output."

Jan 1, 1992

By Leigh G, Gottleb G, Wilkie G

The estimation of particle liberation is important in the study of mineral concentration. With simple systems, where the densities of the components are low, the liberation can be studied directly by density fractionation. For most practical systems, and particularly for the dense, complex sulphides, the only method known is by measurement in polished section. There are two major difficulties with such measurements. Firstly, the measurements themselves are difficult and considerable care is needed before reproducible results can be achieved. Secondly, a well known stereological problem arises which gives the estimates an inherent bias. The paper discusses both aspects of the problem. The practical features of measurement are treated in detail and a method described which has been developed and proven to give reproducible estimates of the liberation in the section. This discussion relates to automated measurements by QEM*SEM and presents a way of estimating the confidence limits within which measurements lie. Comparisons are shown between measurements made by the traditional manual optical technique and automated equipment. Stereological reconstruction is also discussed briefly. Several methods have been presented in the literature but all are complex and none is yet widely accepted. Area measurements are less biased than linear estimates so a practical approach is to use area measurements in uncorrected form. The topic is still being actively researched so it is expected that one method will soon emerge as the standard technique.

Jan 1, 1993

By S. K. Oraee

Most management decisions at all levels of the organization are as directly or indirectly depends on the circumstance of future. With regard to predict the future events in the process of decision-making plays a main role, therefore, forecasting is very important for every organizations and institutions. There is a variety of methods to predict time series. In general, these techniques can be divided as following: statistical, artificial intelligence and analytical techniques. Two of the most common methods for time series prediction is autoregressive integrated moving average (ARIMA) and artificial neural network (ANN) methods, these methods are the subset of statistical and artificial intelligence techniques respectively. In this paper, a hybrid model of ARIMA and ANN models are employed to predict the number of fatal injuries in the USA underground coal mines. This research showed the result of hybrid model is better than split model.

Jan 1, 2011

By Blandford C. Burgess

Mica is an orchid among minerals. It is formed in pegmatites, one of the most bizarre of igneous formations, and is exceeded by few other minerals in the perfection it may attain as to size, color, and cleavage. First used for window glazing, as an ornament and article of trade, it has become one of the most essential insulators of electricity, heat, and shock. Most internal combustion engines use mica condensers or capacitors and such machines of war as planes, tanks, and submarines are immobile without it. The original manuscript of this guide was written in April 1943 at the peak of war emergency. It was not used because shortly thereafter a decision was made to buy on a one price basis eliminating differentials for both quality and size. This is now presented with the thought that from the standpoint of preparedness we can only consider another war imminent and every effort should be made to set up in usable form the experience gained during the Second Morld War. Colonial Mica Corp. was set up by Metals Reserve Co. as a wholly owned government agency to encourage production of domestic mica and to purchase it. It soon became the exclusive buyimg agency for such mica. The writer as Southern Manager called on all the private agencies buying mica to assist in formulating buying policies, methods, and prices. A meeting was held for that purpose in Asheville, N. C., July 20, 1942. In the general discussion the first two hours of the meeting it was decided that the following factors should be considered in pricing strategic mica: clearness, flatness, trimming, color, classification (size and quality), free splitting, hardness, and air inclusions. Most of the mica miners have been buying strategic mica, according to the mine, as No. 1, No. 2, or Nos. 1 and 2 combined. In addition to these grades of strategic mica they have been buying three lower grades of mica, electric (vegetable-stained), black-spotted and black-stained. A number of mines were named one by one and the buyers present gave their opinions as to the basis they would use in buying the sheet mica from each. It was suggested that in addition to the prices already published, prices be posted up to 10 pct higher for special quality and preparation and prices be posted 25 pct lower than the published prices for the lowest acceptable grades of strategic mica, giving the buyers authority to make intermediate prices according to the quality and preparation. It was thought desirable at the same time to announce prices for nonstra-tegic mica where such quality is being obtained in mines producing strategic mica and where it would be necessary to take the output in order to get the strategic mica. It was also suggested that the price of electric and black-spotted mica be 50 pct below the price of the lowest grade of strategic mica and the price of black-stained mica be 60 pct below the price of lowest grade strategic mica. The few experienced buyers available were employed but they were inadequate for the job and others had to be trained. All needed a guide or primer of some kind to attain systematic procedure and consistent prices in their respective buying areas. The Mica Buyers Guide was formulated for that purpose based on experience gained in the first six months of buying. The Preface to the original guide was as follows: The purpose of this guide is to serve as a text in training beginners and as a handbook for experienced buyers of the instructions which have been issued up to this time. At the meeting of prospective buyers last summer, it developed that the first essential to attain uniformity must be some kind of check sheet. Our "Mica Buyers Report" was developed for this purpose and forms the backbone of this guide. Price is determined according to size, quality and preparation. Size can be measured, but no system of measurement or machine has been devised which can be substituted for the trained eye of the buyer to deterrnine quality and preparation. Although the "One Price" system was instituted and the "Guide" not used, the buyers were required to continue making out a "Mica Buyers Report" (Fig1) with each lot of mica purchased. The form proved its value and there is no doubt that in another such emergency some similar form should be

Jan 1, 1950

By Francoi Robert, Andre J. Audet, Alex C. Brown

"The Sigma gold deposit is in a band of deformed metavolcanic rocks that are cut by an irregular mass of porphyritic diorite and by narrow undeformed feldspar porphyry dykes. The gold is in veins consisting mainly of quartz and tourmaline with minor pyrite, carbonate, chlorite, scheelite and free gold. The results presented here concern the structural setting of the ore and are based on a study of the mode of emplacement.Two principal types of veins have been recognized: subvertical and oblique veins. Both types are contemporaneous, mechanically linked and postdate regional deformation. The sub-vertical veins are composed of numerous mineralized lenses that occupy the central part of ductile shear zones of great lateral and vertical extent. Normally, several lenses occur in the same shear zone. The vein material seems to have resulted from incremental filling of openings by repeated vertical movement along rupture planes developed in the central part of the shear zones.The oblique veins are small elliptical lenses of ribboned vein material which formed essentially by progressive vertical opening of oblique fractures. Two types of oblique veins are known: one is restricted to feldspar porphyry dykes, within which they are arranged in an en-echelon fashion; the other is of greater extent and is not restricted to one rock type, but tends, however, to occur in the more competent porphyritic diorite.Vein orientation and mode of formation suggest that both sub-vertical and oblique veins developed during progressive deformation associated with the formation of the ductile shear zones. The latter probably formed in response to a compression that took place late in the tectonic history of the host rocks at Sigma."

Jan 1, 1983

By Francoi Robert, Andre J. Audet, Alex C. Brown

"The Sigma gold deposit is in a band of deformed metavolcanic rocks that are cut by an irregular mass of porphyritic diorite and by narrow undeformed feldspar porphyry dykes. The gold is in veins consisting mainly of quartz and tourmaline with minor pyrite, carbonate, chlorite, scheelite and free gold. The results presented here concern the structural setting of the ore and are based on a study of the mode of emplacement.Two principal types of veins have been recognized: subvertical and oblique veins. Both types are contemporaneous, mechanically linked and postdate regional deformation. The sub-vertical veins are composed of numerous mineralized lenses that occupy the central part of ductile shear zones of great lateral and vertical extent. Normally, several lenses occur in the same shear zone. The vein material seems to have resulted from incremental filling of openings by repeated vertical movement along rupture planes developed in the central part of the shear zones.The oblique veins are small elliptical lenses of ribboned vein material which formed essentially by progressive vertical opening of oblique fractures. Two types of oblique veins are known: one is restricted to feldspar porphyry dykes, within which they are arranged in an en-echelon fashion; the other is of greater extent and is not restricted to one rock type, but tends, however, to occur in the more competent porphyritic diorite.Vein orientation and mode of formation suggest that both sub-vertical and oblique veins developed during progressive deformation associated with the formation of the ductile shear zones. The latter probably formed in response to a compression that took place late in the tectonic history of the host rocks at Sigma."

Jan 1, 1983

By Forest J. Sur

"This report describes an exploratory project conducted by the Bureau of Mines on a fluorite deposit near Vado, N. Mex. Results of trenching are given. Together with analyses made upon samples of the ore. The Federal Geological Survey3/ completed a preliminary geologic study and mapped the deposit during the summer of 1944. A Bureau engineer examined the deposit in August 1944. As a result of these investigations, it was concluded that the deposit contained substantial inferred ore reserves. Exploratory work was recommended to obtain information that might possibly lead to production from the property. Assistance was given the Bureau by the Geological Survey.A gasoline-powered air compressor, other equipment, and supplies were delivered to the property from January 20 to 25, 1943. Trenching began under the direction of a Bureau of Mines engineer on January 25, 1947, and ended on March 15, 1945. The results of trenching and sampling form he basis of this report.In its program of exploration of mineral deposits, the Bureau of Mines has as its primary objective the more effective utilization of our mineral resources to the end that they make the greatest possible contribution to national security and economy. IT is the policy of the Bureau to publish the facts developed by each exploratory project as soon as practicable after its conclusion. The Mining Branch, R.G. Knickerbocker, chief, analyzes samples and performs beneficiation tests. Both these branches are under the supervisions of Dr. R. S. Dean, assistant director."

Sep 1, 1946

By W. A. Boyer

Mine hoisting ropes can be loaded to capacity only when the strength of each component is exactly known. Characteristic curves provide this information. When load and rate of acceleration are specified for an individual rope, the characteristic curve assumes a predetermined shape. The factor of safety is the value derived by dividing the breaking strength of the rope by the total stress on the rope where it goes over the sheave wheel. Total stress is made up of the weight of skip and cage, weight of ore, weight of rope between sheave and rope clevise or attachment, friction load, and acceleration force. Bending stresses are neglected in this discussion, as sheaves and drum diameters are assumed to be large enough to reduce these stresses to a negligible value.

Mar 1, 1956

By A. C. Milner

In a gold standard world which possesses insufficient metal to meet the every-day needs of all, confidence becomes the vital factor, the very foundation upon which the machinery for the expansion of gold into currency, and credit, rests. The gold supply, affected by many influences, moves constantly from one point to another, but not always to that point where it is most needed. In the period 1928-1930, the combined gold holdings of the United States and France increased $1,370,936,-000, and this with new gold adding only $600,000,000 to the monetary gold stock.Theref ore, the gold stocks of other countries must have been depleted during the period by $770,936,000. This uncontrolled shifting throws the delicately adjusted instrumentalities of both credit and commerce out of equilibrium. If a given nation's gold stock shifts so as to bring it substantially below the legal reserve ratio set up against it for currency issues, the effect can easily extend to the currency issues and banking credit volume of one or more nations which may have based their gold exchange standards upon the gold stock of such nation. Thus the substitution of paper based on gold in place of the actual gold is an inflation of the currency, which carries through into an uncontrolled pyramiding upon the entire machinery of credit based on gold. In 1929 Europe, South America, Africa and Asia had overissued currency based on gold. America, Oceanica and Japan, which have not overissued their gold currencies, would in normal times require their entire present gold stocks and, as Continental Asia is largely upon a silver credit basis, from a domestic standpoint, it would appear that the gold problem is not so much one of maldistribution, as it is one of inadequate supply. It would appear that some method of increasing greatly the velocity of gold, within the safe reserve point, should be devised, or that silver, of which estimates indicate that 7,000,000,000 oz. are available for

Jan 1, 1931

By Ali Keneti, Xavier Ryan, Gerardo Sanchez, Shannon Goff

In this study, FLAC3D modeling was conducted for ground-structure stability assessment for a pilot tunnel passing under a large shaft excavated in the vicinity of existing structures at Karangahape Station for the City Rail Link Project in Auckland, New Zealand. The analysis involved generation of the geometries and construction sequences in Rhinoceros®, modeling the existing ground condition, calibration of the simulated in situ conditions with the observed behavior of the ground, and excavation of the shaft and the pilot tunnel. A comprehensive interpretation of the results was then performed accompanied by comparison of the predicted behavior with the observed response of the ground during construction.

Dec 1, 2022

By A. W. S. Schumann

A. W. S. Schumann The first reason for todays success lies in the very high standard which was set by our speakers today and I think that we owe a very special vote of thanks to Messrs P. M. C. Wilson, A. A. Oakes, M. J. Deats, A. C. Coetzee, R. E. Burnton and J. G. Ferguson. This, however, cannot account for the fact that there was a tremendous response even before anyone knew who was going to speak or what they were going to speak about. I suggest that the response was enthusiastic because people expected a more informal gathering with a greater opportunity for feedback, for an exchange of views and for questions and answers. The very popularity of the idea has defeated its own ends to some extent. This gathering is too big and many people must have been left with questions unanswered. Possibly one should arrange for a number of meeting places-there are many in the Chamber and the surrounding mining houses-and then have separate meetings in the morning with joint reporting session in the afternoon. Alternatively, we could have a symposium after the colloquium, using Webster's definition of a symposium as as 'a drinking party of merry fellows'. We all know that it is easy to discuss mining into the small hours. Obviously one cannot summarise todays papers and discussions, but I would like to make a few comments on technical matters and after that I would like to speak for a moment about what I see as major trends or tendencies which arise from discussions of this nature. Regarding the question of placing a village on a mine or away from a mine, I would mention that there is quite a body of literature on the adverse sociological effects on the development of children in any community in which the great majority of parents share the same occupation. It is something to be avoided if possible. We discussed the concept of the moving stockpile. If this is proved to be successful, it could save a considerable amount of money for Escom who could then avoid the construction of very large and costly staithes which are now regarded as parts of power stations. One does not see why both a moving stockpile and a staith should be necessary. By the way, speaking of Escom, I see that Mr Bob Scott is here; he has stopped pulling my leg by saying that we sell stone to Escom; perhaps someone has told him that if this is true, it must be the cheapest stone you can buy in this country. My next point relates to the use of epidiascope. It struck me again that this instrument which provides a visual image to accompany your message, can be very effective if it is properly used. These papers speak of a great deal of hard work which went into their preparation, and one really feels that the authors should have taken a few minutes more to prepare their drawings specifically for the epidiascope. There should be nothing on the drawing which is not necessary to illustrate a particular point and there should be nothing on the drawing which is not visible from the back of the hall. In particular, if one cannot read the figures along the sides, then one

By J. M. Gomes

Bench-scale flotation tests were conducted on two western tactite ores to study the recovery of tungsten and zinc minerals. The investigation, which is part of the Bureau of Mines ongoing program to develop methods for beneficiating minerals and metals from domestic low-grade ores, demonstrated the feasibility of producing scheelite, sphalerite, and their bulk concentrates. Sphalerite concentrates containing 51 to 53 pet Zn and less than 0.11 pct W03 were selectively recovered prior to scheelite flotation. Zinc recovery ranged from 85 to 91 pct. Scheelite concentrates containing 17 to 25 pct W03 were then recovered from the ore; tungsten recoveries ranged from 88 to 94 pct. Bulk flotation concentrates containing 84 to 91 pct of the W03 and 87 to 95 pct of the zinc also were prepared. More than 98 pct of the W03 in a bulk concentrate containing 9 pct W03 was extracted by autoclave leaching with a soda solution. The zinc remained in the leached residue.

Jan 1, 1982

The copper and zinc contents of herbarium specimens of 11 of the 12 Australian species of Polycarpaea were determined in order to establish background and anomalous values of potential use in biogeochemical prospecting.Cumulative frequency curves were used to establish appropriate threshold concentrations for six species including the "copper plant"' P spirostylis. Collection localities of Polycarpaea specimens with anomalous copper or copper-and-zinc values are under investigation.

Jan 1, 1978

By G. E. Pralle

INTRODUCTION The decade from 1969 to 1979 saw the crest of a wave of investments by companies and investors, primarily from the major industrial nations, in the metals and minerals industries of the so-called lesser developed countries. This was brought about by two major considerations: 1). The higher ore grades and therefore the higher profit potential of the mineral deposits in the third world countries, and 2). The desire, particularly by the European countries and by Japan, to ensure a safe supply of raw materials not available in their own countries. The decade began with the start of the Toquepala mine in Peru and the major investments in the Bougainville mine in Papua New Guinea and the Ertsberg mine in Indonesia. It ended with the start-up of Southern Peru Copper Company (SPCC) Cuajone mine in Peru and Inco's Soroako mine in Indonesia and the investments in several major alumina or aluminum projects in Australia and Brazil. Concurrent with this huge flow of funds into the mineral resources industry of the developing world was the build-up of a psychological fear in the host countries of exploitation/domination by the foreign investors. This resulted in an increasing trend towards: 1). Nationalization of existing mineral ventures, and 2). Tougher legal/fiscal frameworks for new ones. NATIONALIZATION Nationalization appeared in its earliest form as "Mexicanization" of the petroleum industry in Mexico in the 1930's, followed later by Mexicanization of the mining industry in general. This was enacted with the Mexican Mining Law of 1961 which required that 51% of the equity be owned by Mexican nationals. Later in the decade the equity share for foreign investors was reduced to 33 1/3% for the developers of the Frasch sulphur operations in the Isthumus of Tehuantepec. However, the law was not fully implemented in the copper industry until late 1970 with the purchase of 51% of the ownership in the Cananea Mining Company. The trend toward nationalization of the copper industry progressed to Chile where in 1967 under the Government of Eduardo Frei the major North American copper companies were induced to sell a one-half interest in their Chilean mines to the State. Likewise, in 1970, "Zambianization" took place, when the two major operating companies Roan Selection Trust (Amax) and Zamanglo (Anglo American) were restructured into Roan Consolidated Mines (RCM) and Nchanga Consolidated Mines (NCCM) providing the government with 51% of the equity ownership. Whilst the earlier forms of nationalization in general constituted a fairly priced buy-out (El Teniente, Chile for US$80 million, RCM for US$117.8 million, NCCM for US$178.7 million), the total nationalization of the Chilean mining companies in 1970 under Salvador Allende did not. Later, "Western" countries joined this trend and on October 29, 1973, Mr. Gough Whitlam proclaimed that "overseas capital must continue... in partnership with Australian capital" and "in some special energy cases we have an objective of 100% Australian ownership". In 1974 Mr. Pierre Trudeau stated: "The Liberal Party of Canada sets as an objective that new resources projects in the natural resource field should have at least 50% and preferably 60% Canadian equity ownership". FOREIGN INVESTMENT The situation for the foreign investor in the worldwide resource industry rapidly deteriorated from then on. New features appeared in mineral exploitation and operating agreements, centering not only on local government/local companies ownership but also on increased taxation. The new tax rate (mineral tax, royalty, and income tax) for the semi-government companies NCCM and RCM in Zambia became an effective 73%. Likewise the much publicized and discussed renegotiated Bougainville agreement brought dramatic increases in the total "take" by the PNG Government. More innovative forms of indirect taxation made their appearance and were added to the normal tax burdens of the mineral industry which already

Jan 1, 1985