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By Henry S. Washington

I. INTRODUCTION. DURING the last twenty years or so the chemical investigation of rocks has made great advances, and it is now generally recognized that a knowledge of the chemical composition is as essential as that of the texture or mineral composition-if not more so-for the proper classification of rocks and study of their origin and relationships. Rock-analyses have vastly increased in numbers and, what is of greater importance, in quality. New and improved methods permit of greater accuracy than was possible in the early days, and the list of chemical constituents frequently determined has risen from the seven or eight of the greater part of the nineteenth century to twenty or more. Indeed, rock-analyses with determinations of so many constituents are now commonly made by the chemists of the United States and Australia, while in Germany, Great Britain, France, and Italy the rarer constituents are determined more frequently than formerly. As a consequence of this modern, accurate work, it has been discovered that some elements which were formerly supposed to be rare are of wide-spread occurrence and are often present in considerable amount. The fact is further being developed that the elements tend to show certain relations of occurrence or abundance in connection with each other. This is a fact which is applicable to the rarer elements, and which also finds a broad geological and petrological expression in the recognition of petrographic provinces. We are beginning to obtain some definite, though as yet rudimentary, knowledge of the distribution of the elements among igneous rocks. Some of the results along these lines obtained by study of the vast accumulation of analytical data now available are well known to petrologists, while others do not seem to be so gener-

Sep 1, 1908

By B Hayter, M Carr, K Williams, C Wheeler, W Chen

Current trends into mining iron ore have seen an increase in the exploitation of problematic orebodies that would typically be disregarded. These bulk materials cause problems within all facets of the material handling stream, from remains left in train wagons to transfer chute blockages, which can cause costly downtime to mining operations (Roberts, 1998). These problematic bulk materials are referred to as wet and sticky material (WSM) due to the adhesive and cohesive nature they possess. Their characteristics can be computationally expensive to model. With the development of discrete element modelling (DEM), in conjunction with advancement in computational power over the past decade, it is now more feasible to model WSMs into the DEM technique.This research will couple two different contact models that can represent the characteristics of a WSM. These models include the Simplified Johnson-Kendall-Roberts (SJKR) and the Easo liquid bridging contact models. The SJKR contact model is an expanded form of the classic Hertz model. This model includes the tensile forces that are in the contact zone between two bodies when they are separated, which the Hertz model failed to capture (Johnson, Kendall and Roberts, 1971). The Easo liquid bridging contact model accounts for the capillary effects and surface tension that will form between two bodies, such as that of a WSM (Soulié et al, 2006). Both of these models were coupled to give the best representation of a WSM, which was simulated using MoleculeX™ (Chen and Williams, 2017) as the software platform.Additionally, this research also investigated the adhesion of problematic iron ore samples onto impact plates under dynamic conditions. An experimental set-up consisting of an apron feeder and inclined impact plate was utilised, to gain an understanding of the way the material builds-up and the possible modes of failure that could be experienced. This was undertaken for different wall liner materials, wall liner angles and moisture contents of the iron ore samples. From this, a series of DEM calibration simulations were conducted on the experimental set-up and particle size distributions (PSD) of the iron ore samples. This enabled forming of a database of parameters, which can be scaled for on-site applications in relation to geometry of the plant and PSDs that would represent run-of-mine ores.CITATION:Carr, M, Williams, K, Chen, W, Hayter, B, Roberts, A and Wheeler, C, 2017. The dynamic adhesion of wet and sticky iron ores onto impact plates, in Proceedings Iron Ore 2017, pp 511–518 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By Michael P. Amsden

"THE ECSTALL CONCENTRATOR is situated adjacent to Highway 101 and the Ontario Northland Railroad, 15 miles east of Timmins, Ontario. Ore is delivered to the concentrator by rail from the mine, which is 17 miles northwest of the plant. Power and fuel are obtained from the hydro and natural gas lines which pass close to the plant site. Water is obtained from the Frederickhouse River, 6 miles east of the concentrator. The main concentrator building is a large structure 500 by 640 feet by 90 feet high and contains facilities for fine crushing, crushed ore storage, grinding, flotation, tin recovery, concentrate handling and reagent handling. Located in the same building are the machine shop, warehouse, metallurgical laboratory, pilot plant, men's change room, sample preparation area and an assay laboratory. The general concentrator layout is shown in Figure 47. Originally designed to handle 9,000 tons per day, the concentrator now treats 10,000 tons per day. Two different ore types are processed by selective flotation in three individual circuits to recover copper, lead and zinc concentrates. In 1973, another circuit was added to recover pyrite and tin concentrates from the combined zinc tailings of the three main circuits."

Jan 1, 1974

By Edwin G. Sharp, Frank S. Gaunce, George M. Freeman, Denis J. Kemp, Eric Dulson, Paul Salmon, Ernest R. Hamilton, Carl E. Parden

"THE ECSTALL ZINC PLANT was built for the treatment of the Kidd Creek zinc sulphide concentrates. Construction proceeded throughout 1970-71, with operations beginning in April 1972. The two concentrate types treated differ principally in minor impurity and precious metal contents. Processing flexibility was required to allow efficient recovery of the by-products, especially cadmium, copper and silver. The conversion of the zinc sulphide concentrates to end products follows a sequence of operations that are common to most electrolytic zinc plants and typical of the ""Tainton- Jephson"" flowsheet.1. Roasting in air at an elevated temperature to convert the metal sulphides to soluble metal oxides (calcine) and sulphur dioxide. The sulphur dioxide is converted to sulphuric acid in a contad plant and shipped by train to market.2. Leaching of the calcine in spent electrolyte to effect extraction and recovery of zinc as zinc sulphate solution, leaving an insoluble residue.3. Purification of the clarified zinc sulphate solution by cementation with metallic zinc dust to remove impurities detrimental to the electro-deposition of zinc or detrimental to product purity. The solids from cementation are the starting materials for secondary metal recovery.4. Electrolysis of the purified zinc sulphate solution to reduce the zinc to the metallic state while coincidentally regenerating the sulphuric acid for recycle to the leaching step."

Jan 1, 1974

By Enver Alan, MerkeziYapı

People are migrating because of economic, social, natural and political reasons. These natural and humane factors effects the distribution of populations. The need for tunnels has grown in order to provide a comfortable life and reduce losses such as waste of time, labor, energy, efficiency and so on. It is inevitable to carry out excavations in rock tunnels (shears, platforms, lines, connections, wastewater, distribution, energy, transportation etc.), that will be built by excavating with conventional method, by controlled blasting regarding with constrains. In this study of applied explosives engineering the blasting applications are evaluated, which were carried out for research and development purposes at Yenisahra Station tunnels in Kartal Formation which was built with the aim of solving İstanbul's transportation problem within the framework of the Kadıköy-Kartal Metro Project. Twenty-four shots were made by using explosives in 60 blastholes that were drilled in the tunnel faces, which were located between and outside of two different faults. Six microphones were used to measure the air shock and eight geophones were used to measure the parameter values of the vibrations (particle velocity, frequency, displacement, acceleration, amplitude, wavelength etc.), which were placed at predetermined points of the surface, occurred during the blasting applications. Data from the geophone and microphones were recorded on six seismographs. The coordinates and the distances between the shot points and the measurement stations are determined by an electronic theodolite. The total number of seismic records, recorded in seismographs, is 118. The number of records of vibrations that crossed the faults is 42 and the number of records of vibrations that did not cross the fault is 76. The particle velocity, frequency, amplitude, acceleration, displacement and wavelength were measured in transverse, longitudinal and vertical directions. The total number of measurements is 354. By evaluating all seismic records, the effect of delay intervals, faults and scaled distances on the particle velocity, frequency, amplitude, displacement, acceleration, wavelength and air shock were investigated. When the vibrations formed during the Research & Development (R&D) blasts were examined, it was determined that the parameter values of vibrations that crossed the faults are lower than the ones that did not cross the faults. In addition, when the particle velocity values of all vibrations are examined according to the present circumstances, it is determined that the waves did not cross the fault in all delay intervals are superposed in all directions, and that the least superposing occurred in the 50 ms delay range.

By A. W. Khair

This paper deals with the analysis of pillar failure in a room and pillar mining operation of a deep underground coal mine. The incident here involved the failure of more than 100 pillars. The mechanism of pillar failure (bump/squeeze) has been studied in detail. The analysis consists of inmine eyewitness observations, laboratory experiments and analytical study of the pillar failure area using finite element technique. Results indicated that the mechanical properties of coal, roof and floor, geologic condition, and the method of operation have affected the mode of pillar failure. Hard roof and floor prevented roof caving and floor heaving in the gob area creating an inhomgeneous stress field on the pillar. This condition developed a yield zone and a core zone in the pillar. Progressive increase of vertical stress further increased the yield zone of the pillar and reduced the core pillar leading to a total squeeze of the pillar. However, the analysis indicated that the pillars were liable to bump provided any sudden shift of load occurred on the core pillar due to some dynamic shock imparted by a local failure of the immediate roof (slickenslided area) or during splitting.

Jan 1, 1986

By Primak. George J.

"In the development of a new product as well as during its introduction on the market, it is very important to give due consideration to problems involving patents, licenses and trade marks. At the very beginning of the research and development program, it is obviously essential to ascertain, through a suitable patent search, that the product in question will not infringe any patents which are still in force. Then, a possibility of achieving one's own patent or proprietary position on the product or the process of its manufacture should be carefully explored. Licensing arrangements that one may reach with respect to patents and know-how covering such new product may, in the final analysis, determine its over-all success or failure. If one can count on licensing revenues or some favourable cross-licensing arrangements with respect to a newly developed product, this may go a long way to achieving profitability and success. The selection of a good trade mark is probably one of the most important acts that one has to perform once the product is developed, as customers will identify the new product by such a trade mark. In many instances, successful marketing and widespread acceptance of a product are largely due to its appealing name or trade mark, accompanied by proper promotion and advertising. Once the trade mark has been adopted, it should be registered in the Trade Marks Office to provide the protection afforded by federal statute. If the product is to be manufactured, sold or licensed in some other countries, similar considerations should be made with regard to each such country."

Jan 1, 1973

By H. O. Hofman

WHEN dry chlorine gas is made to act in the cold upon finely¬divided gold,' it converts the latter with evolution of heat into auro-auric chloride, Au2CI4, a hard, dark-red, hygroscopic salt. Moisture splits this salt into aurous and aerie chloride, Au2C14 = AuCI + AuCI3; treatment with water converts it into auric chloride and gold, 3 Au2CI4 = 4 AuC13 + Au,. Aurous chloride, when stirred with water, undergoes a similar decomposition, 3 AuCI = AuCI3 + Au,. These decompositions of auro-auric chloride and of aurous chloride furnish the explanation for the practice of moistening an ore before it is treated by the Plattner chlorination-process; practical experience having shown that gaseous chlorine gave an unsatisfactory extraction with dry ore. According to Rose,' fine gold is acted upon more slowly by chlorine than gold containing some base metal, e.g., copper. He also states that small quantities of silver increase the rate of solution, but adds that the coating of silver chloride formed checks, and finally stops, further action, if the percentage of silver be increased beyond a certain undetermined amount. Bromine' acts upon finely-divided gold in a manner similar to chlorine; the auro-auric bromide, Au2Br4, however, is not hygroscopic. Upon treatment with water it is decomposed as is the corresponding chlorine salt. It is generally believed that bromine does not act as energetically upon gold as does chlorine. This seems to be borne out by the results in the leach-

Mar 1, 1905

By A. Choudhury

Deep open-pit mines are becoming increasingly common in the highly mineralized arctic and sub-arctic regions. Air inversion is a frequent occurrence in these regions, and is exacerbated by the natural topography of an open-pit mine. Due to such inversions, the air quality in open-pit mines deteriorates very rapidly. Transport of gaseous pollutants under arctic air inversion is complex and involves an interaction between flow, thermal and convective transport systems. This paper discusses the construction and validation of a three-dimensional model that simulate the flow of air and the transport of gaseous contaminants in an arctic open-pit mine and the effect of low influent velocity and large gust velocities on the contaminants profiles in the mine. It was found that while higher velocities may remove contaminants from the pit bottom, they may not remove the contaminants from the pit entirely, necessitating artificial mitigation measures.

Jan 1, 2012

By J. E. Dutrizac

"The end of an era in zinc metallurgy took place on July 31, 1976 when the horizontal retort furnaces of the National Zinc Company in Bartlesville, Oklahoma were permanently shut down (1) . For more than a century, horizontal retorting had been the most common method of producing zinc in the United States; it was a thriving industry in many parts of that country, especially in the natural gas belts of Oklahoma and Texas. With the Bartlesville closure, yet another metallurgical process has become an object of historical interest for North American metallurgists. Although shrouded in controversy, the origins of zinc metallurgy seem to date back at least 2000 years. Pyrometallurgical methods with carbon reductants are capable of producing zinc from oxidic zinc ores, but only above the boiling point of the metal. Although slow cooling results in re-oxidation of the zinc vapour by air or carbon monoxide, quenching yields liquid zinc; some form of rapid cooling, either accidental or intentional, was likely used by ancient metallurgists to liquify the metal. Zinc metal found in Athenian objects of the Roman era was likely of accidental origin. The Romans employed brass extensively for coins and ornaments(2) , and this was intentionally produced by the calamine process whereby oxidic zinc ores were added to molten copper under strongly reducing conditions. Zinc appears to have been known in China and India as early as 1000-1300 A.D., and was probably smelted commercially in those countries from the 14th century. Although the early metallurgical procedures were probably inefficient, they were able to produce zinc metal in significant amounts. The large heaps of zinc residues with clay retorts bear testimony to an early smelting industry of impressive magnitude. It is estimated that the heaps at Zawar, India alone represent the extraction of 100 000 tons of metallic zinc(2) In the 1730s the smelting of oxidic zinc ores was developed in England using a vertical retort method. In 1788 a British patent was granted for making zinc from zinc blends (ZnS) by roasting the ore in a coalfired reverberatory furnace, mixing the calcine with charcoal and smelting the mixture with suitable zinc condensation. The English process was very energy intensive, however, and early in the 19th century the Belgians developed a horizontal retort process for the reductiondistillation of zinc that was more fuel efficient. This technique was gradually developed into what came to be known as the Belgian process, the forerunner of the ""modern"" horizontal retort furnace."

Jan 1, 1999

By D. A. Singer, J. C. Griffiths

"One of the most useful approaches to a complex problem is to model the system which gives rise to the problem and to perform simulations through the model to find appropriate solutions. The Engel Model may be used as such a simulator to investigate the problem of the exploration for natural resources.The Engel Model is based on a two-stage search procedure in which a known area (A) which contains m prizes is subjected to search by n coverings. During the first-stage search the sensor system records signals which may be a response from prizes (that is, true signals) or may be false. Signals tend to cluster around a prize and a cluster size consists of s signals. If a circle of radius R is drawn around each signal some will overlap and the overlap from s signals contains a prize. The cost of a single covering in which each point of the area comes under observation once, is designated E1. Second-stage detailed search is expensive and is confined to areas of overlap of s circles; it leads to the location of prizes. Second-stage search of the whole area costs Ea units. The expected value, V, of a prize is known and its development cost is E3 units.The sensor system characteristics are defined by the circle of radius R around a signal, which should be small compared with the total area A and enters the model as a parameter a x R2/A. The probability of a false signal during a single covering of a circle of radius I is a known constant, A.This model was applied to the search for uranium ore bodies using two different types of occurrence. In the first, the Wyoming Basin type, the area is relatively large (A = 1 496 square miles) and a few (m = 4) large prizes occur (expected value V = $30 million). In the second area, which represents the Ambrosia Lake region of New Mexico, the area is smaller (A = 212 square miles) and contains many (m = 200) smaller prizes (expectedvalue of a prize V,$2 million). The three costs, E1, E2, E3, are adjusted to the different circumstances in the two areas.Simulations were performed using n = 1 to 40 coverings with cluster sizes s = 0 to 19; the radius R was varied from 0.52 to 3 miles (and, therefore, a = 0.002 to 0.133 0, respectively, dependent on the area of interest). The value of A was varied from 0.01 to 0.10.Profitable programs were found over a wide range of the parameters; the two areas required different strategies to achieve maximum profit. In the Ambrosia Lake region a few passes (n = 4 to 6) with small cluster sizes (s = 2 to 6) are more profitable, whereas in the Wyoming Basin region a large number of passes (n = 35 to 40) and cluster sizes of s = 5 to 10 are most profitable.As pointed out by Allais (1957) the larger prizes are the most important in deciding the successful outcomes of exploration programs, and the profit margin in the search for a few large prizes is sufficient to yield success over a wide range of programs. Such programs require very large investments if they are to be successful.To refine the Engel Simulator as a decision-maker in selecting the most profitable exploration programs it is necessary to obtain firm estimates of the sensor system characteristics, that is, of R, a and ? (lambda)."

Jan 1, 2014

By Mark E. Schlesinger

Engineering design follows a six–step sequence. Demonstration of this sequence in materials engineering is less common. A case study is presented, using the 1989 paper by Gafner on the development of 990 gold-titanium alloy. This paper identifies a need, develops the problem, identifies alternatives, demonstrates the use of metallurgical principles to identify alternative responses, and shows how more favorable options are selected. The paper can also be used to illustrate engineering design as an iterative process. The paper is also useful as a starting point for more in-depth examination of specific elements of the design process, and lends itself to the creation of student exercises.

Jan 1, 2014

By Peeler P. K

The recent renewal of interest in hydrometallurgical routes for copper production has been brought about by the possible future reliance on mixed ores and lower grade deposits, environmental aspects, and energy considerations.A number of hydrometallurgical processes for the recovery of copper have recently been proposed. Flowsheets are developed for two processes which incorporate several treatment methods being experimentally studied in Australia.In the first process a cupric chloride leach is followed by electrowinning whilst the second is based on the formation of cuprous ions, stabuized by acetonitrile and subsequent disproportionation to cupric ions and metallic copper. For the purpose of comparison, flowsheets were also developed for the Arbiter and Cymet processes.Process economics are estimated for the four processes and the results are discussed in relation to competitive pyrometallurgy. None of the four hydrometallurgical processes, with possible exception of the Cymet process, appears to be competitive with established large scale and newly developed pyrometallurgical processes for chalcopyrite.However, because the economics of the individual hydrometallurgical processes depend strongly on specific conditions, a "tailored" process may be competitive with pyrometallurgy in particular circumstances.

Jan 1, 1977

By Willie M. NeSmith, W. Morgan NeSmith, Alan Roach

"In 2013, Augered Cast-in-Place (ACIP) piles are a mature foundation technology throughout the United States. General guidelines for the design and construction of ACIP piles are available along with numerous references for design in specific North American geologies. In fact, the current generation of contractors and geotechnical practitioners might view ACIP piles as just another deep foundation option to be considered, along with driven piles, drilled shafts and others. This acceptance has developed, however, over a 60-plus year period.The term, Augered Pressure-Grouted (APG) pile is often used when referring to ACIP piles because the piles emerged out of construction processes at the Intrusion-Prepakt firm in the late 1940s. The company’s specialty was pressure grouting and preplaced aggregate concrete. The grouting was typically accomplished by driving a pipe to a target level and then injecting grout under pressure. In some soil conditions, it was necessary to use an auger to reach the desired grouting depth. In these circumstances, the grout pipe was driven beside the auger and grout was pumped as the auger was withdrawn. The grout pipe was then withdrawn as well. This was the genesis of the APG, or ACIP pile, and many piles were installed using this technique. The patent application, “Method for Forming Piles” was filed by Raymond Patterson of Intrusion-Prepakt in 1951, and the patent was granted in 1956. The process was eventually modified when a suitable hollow-stem auger was developed. Licenses were granted to the Lee Turzillo Contracting Company and Berkel & Company Contractors, Inc. in the late 1950s. Each of the three companies Patent, LicensesThe patent application, “Method for Forming Piles” was filed by Raymond Patterson of Intrusion-Prepakt in 1951, and the patent was granted in 1956. The process was eventually modified when a suitable hollow-stem auger was developed. Licenses were granted to the Lee Turzillo Contracting Company and Berkel & Company Contractors, Inc. in the late 1950s. Each of the three companies coined their own terms for the piling process: “Pakt-In-Place” for Intrusion-Prepakt, “Auger Pressure-Grouted” for Berkel and “Augercast” for Turzillo. Over time, “Augercast” was frequently used as a generic term for the system. The installation of these piles was, and still is, a highly nuanced process; “contractor dependent” is a term often seen today. Intrusion-Prepakt, Berkel and Turzillo all had personnel who were part of the original group that developed the system and who appreciated the craftsmanship involved in forming sound piles."

Jan 1, 2013

By R. W. Raymond

On the Manchuria. SOMEWHAT fatigued with excess of enjoyment and strenuous continuity of movement on the trip to and through California, the members and guests of the Institute party embarked Tuesday, Oct. 17, on the Pacific Mail S. S. Manchuria for a further journey to and through Japan. The good ship displayed the flag of the Institute (blue cross-hammers on a white ground), together with the Stars and Stripes and the ensign of the company. Uninterrupted fair weather and smooth water attended the passage to Honolulu. The Manchuria proved herself most commodious, comfortable and clean ("A sweeter steamship never sailed," quoth President Hunt) ; Captain Dixon and his officers were most agreeable, as well as most efficient; the passenger list comprised many congenial people besides ourselves-among them a score of missionary folk, and also Mr. M. H. de Young, Vice-President of the Panama

Jan 1, 1912

By H. A. Wheeler

IT may surprise some of our members to learn, among the industries based on the mineral resources of the United States that of clay now ranks third, being exceeded in value of product only by pig-iron and coal. The present annual value of clay-products exceeds the value of the outputs of gold and silver, and also exceeds the combined values of copper, lead, zinc, aluminum, mercury, antimony and nickel. These facts are shown in Table I. which gives the statistics for the year 1902

Jan 1, 1905

By E. G. Kearnery

Introduction It is believed that the present paper will be of some interest, not because of any outstanding features of Renabie milling practice but because Renabie is the first gold mining property in a newly explored area - in Leeson and Rennie townships, Sudbury district, Ontario - to reach the production stage. The Renabie mill was originally designed by the General Engineering Company (Canada), Limited, as a 300-ton plant and went into operation in June, 1947, treating an average of only 128 tons a day for the balance of that year. Toward the end of 1948 the capacity of the plant was expanded to 450 tons a day, and the tonnage treated was gradually increased from the 1947 figure to the point where 420 tons a day was averaged for the first nine months of 1949. Description of Ore In general, the outstanding gangue component of Renabie ore is white quartz, which comprises at least 80 per cent of its total bulk and in some sections considerably more. Virtually all the gold occurs in very finely divided state; only very rarely has free gold coarser than 325 mesh been observed. The ore has a very low sulphide content, ranging from about 0.50 to 1.00 per cent by weight. The gold occurs both free in the gangue and ? locked in sulphides, the proportion of one to the other varying considerably from one orebody to the other. Pyrite is by far the most abundant sulphide, followed by galena, which, however, appears to be entirely absent in some of the orebodies. Minor amounts of pyrrhotite, chalcopyrite, chalcocite, and sphalerite have been noted. The ore appears to be entirely free, or almost so, of minerals containing arsenic, antimony, or molybdenum, and in general it could be described as free milling. The various hindrances to extraction of the gold which have been met with are believed to be due largely to the very finely divided state of the metal and to its intimate association with the sulphides and gangue. The ore contains silver, with the gold-silver ratio about 3:1.

Jan 1, 1950

By K Morrison

Australia’s ageing population means that by 2050 there will be 2.7 people of working age to support each Australian aged 65 years and over compared with five working people per retiree today and compared with 7.5 in 1970 (Swan, 2010). This means that there is going to be a greater demand on social services – for medical and aged care – from a smaller private income base. How will this gap be met? Australia is fortunate in that it has vast resources of mineral wealth; from iron ore, nickel and gas in Western Australia to the giant copper and uranium deposits at Olympic Dam in South Australia.The prospect of a meaningful profit based tax on this vast mineral wealth has been lost through Australian government’s handling of the issue in 2010 and with an industry fiercely opposed to the prospect of a mining tax. Hence, new ways of thinking are required. This paper looks at the issues facing the implementation of a novel scheme whereby Australia leases the mineral resources it extracts and thus derives income over the decades the metals are in-use in pipes, wires and structures with a premium paid for unreturned material or that used in dissipative applications. Applicable minerals could include copper, aluminium, nickel and rare earths. If Australia simply digs up and sells the metals once, the buyer becomes custodian of that resource and they benefit from controlling the future ‘above-ground’ resource stock.A complementary driver for a leasing scheme is the increasing importance of chain-of-custody following initiatives of the Responsible Jewellery Council with gold and diamonds, now with the potential to extend across commodities. The Australian minerals sector could thus position itself as a premium supplier with high social and environmental credentials.Recognising the implementation challenges, this paper includes a review of how such a system could be enforced to ensure that the metal is tracked throughout its life. It concludes with a discussion of the rates and terms should such agreements hold and suggestions for institutional arrangements for enforcing compliance.

Nov 22, 2011

By Arthur Notman

For the period January 1st, 1942, to January 1st, 1946, the American Bureau of Metal Statistics records the gold production of the world as 118,788,000 fine ounces. If we include 1946 at the same rate as 1945 (26,- 590,000), we arrive at a total of 145,378,000 fine ounces in the past five years . Included in these figures are estimates of Russian output at 4,000,000 ounces per annum for the five years, and 1,300,000 ounces per annum for Korea and Japan. The remaining 120,000,000 ounces represent the aggregate production from official reports of the other gold producing areas of the world, with the exception of the 1946 figures, as noted above. At $35.00 per fine ounce, this represents $5,188,230,000. According to the reports of the Federal Reserve System of the United States, on December 31st, 1941, the monetary gold reserves of the United States were $22,736,- 600,000 (at $35.00 per fine ounce) , while on October 31st, 1946 (latest available) , they had fallen to $20,402,000,000, a decline of $2,334,600,000. Adding this decline to the value of the new production for the five years, we have a total of $7,522,830,000, which has been absorbed by the rest of the world since Pearl Harbour, a rate of absorption of over $1,500,000,000 per annum. This has taken place at a rime when the advocates of purely managed currencies had convinced many people that gold performed no really essential function in the world's economy, and that we could get along perfectly well without it. It was pointed out that gold could not be eaten, it could not clothe our nakedness, it could not shelter us from storms, and, therefore, it was a non-essential, even though it could be used to settle international balances of trade. Apparently, the world as a whole still regards it as preferable to the paper promises of governments, however sound, relatively, they may appear. Actually, we have no way of measuring the true strength of this feeling, because the principal governments of the world have made it legally impossible for their citizens to own gold, except in the form of ornaments.

Jan 1, 1947

By Frederic Dewey

(New York Meeting, February, 1913) This old and well-known method of determining, silver is, in bullion work, so far superior to the furnace-assay that it is looked upon with reverential awe by many, if not by most, users, and its-ease of execution, with proper equipment, commends it highly where much commercial bullion work on silver is required. The method is so thoroughly well known that a, description of it here may seem to be unnecessary, but many thousands of determinations are annually made by it in the U. S. Mint Service and its practice is there reduced to an art. This is necessary both for the sake of economy of time, acid because high-grade work with it requires constant practice. It is useless for a person who uses it only occasionally to expect to attain high accuracy with it, without spending more time upon a determination than is warranted in a busy commercial laboratory. It is always employed in the Mint service whenever possible, but its chief field is in the determination of silver in standard silver (ingots and coin), which is 900 fine in silver and 100 fine in copper, and I shall first briefly outline its use on this metal and then take up various points in detail, especially as related to the accuracy of the results obtained.

Jan 4, 1913