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By Vicken Aprahamian

"The Royal Canadian Mint (RCM) operates a gold and silver refining toll operation in Ottawa, Ontario, Canada. The silver refining line is a recent addition and was commissioned in 2005. One source of silver in the refinery is from gold doré which undergoes Miller chlorination before electrorefining to 99.99% cathode gold. Treatment of the Miller salt or silver-copper chloride produced consisted of a 2-stage high temperature reduction process step using soda ash prior to 2005. Copper-rich silver bars were produced and shipped offsite for further refining.The copper-rich bars could not be blended into sufficient high grade silver doré to dilute the copper and allow electrorefining in a silver nitrate medium. A new wet process was developed and commissioned to replace the high temperature reduction and allow removal of bulk copper. Thus upgraded impure silver produced was cast into anode for electrorefining to 99.9% purity silver flake. The 2005 RCM Hydromet Slag process is presented as well as its more current version. In addition, mention is made of a novel processing scenario for the introduction of Miller chlorination silver into the electrorefining circuit."

Jan 1, 2015

By E. Eccleston, E. Gardner, F. Letarte, R. Schonewille

"In 2005, after nearly a decade of process development and feasibility work, the commercialization of the Falconbridge Nickel Smelting Technology (NST) began in earnest with the design and construction of a grassroots ferronickel plant at Koniambo Nickel in New Caledonia. The NST process was developed as an alternative to the conventional Rotary Kiln-Electric Furnace (RKEF) process for production of ferronickel from saprolitic nickel laterite ores. The NST process promised environmental and energy efficiency advantages over the conventional route. A key step of the NST process involves fluidized bed pre-reduction of calcined laterite ore using direct injection of pulverized coal as the reductant. Two parallel fluidized bed reduction roasters (FBRs) were installed at Koniambo Nickel, each designed for a maximum capacity of 4,200 MTPD of calcined nickel laterite ore. This paper describes the process development and scale-up of the fluidized bed pre-reduction process, the design challenges associated with the prototype commercial units, and the current status of the FBR operation at Konaimbo.INTRODUCTION In the mid-1990s, Falconbridge began to develop a new flowsheet for production of ferronickel from nickel laterite ores. The process that developed came to be known as the Falconbridge Nickel Smelting Technology (NST). The flowsheet, which is particularly appropriate for saprolitic ores, involves several major unit operations, including: drying in a hammer mill-flash dryer, calcination and preheating in a flash calciner, pre-reduction in a fluidized bed reactor, and smelting in a DC arc furnace to produce the ferronickel product. This paper focuses on the fluidized bed pre-reduction step of the process and provides an overview of the process chemistry, laboratory and pilot plant development work, scale-up and commercialization of the pre-reduction step, and the results obtained in the prototype commercial units."

Jan 1, 2017

By J. Stiksma, R. Kalanchey, M. J. Collins, G. Owusu, R. Raudsepp, K. R. Buban, L. A. Barta, I. M. Masters

This paper describes the results of testwork for the treatment of Ambatovy laterite ore by a pressure acid leach process, with recovery of the soluble nickel and cobalt values as mixed sulphide intermediate by precipitation with hydrogen sulphide, and subsequent refining of the mixed sulphide to nickel and cobalt metals. These process development studies were carried out primarily in 2004, as part of a bankable feasibility study for the Ambatovy Nickel Project. The Ambatovy orebody is located in Madagascar. The mini pilot plant testwork was carried out in the Dynatec metallurgical laboratory in Fort Saskatchewan, Alberta. The results of the testwork were very encouraging, including nickel and cobalt extractions in the range of 95.5% to 97.0%, and 94.0% to 97.0%, respectively, in the ore leach step with sulphuric acid. High recoveries of nickel and cobalt were achieved throughout the remaining process steps, yielding separate nickel and cobalt metal powders with better than acceptable purity.

Jan 1, 2005

By Sh. Karimidorabati

In the construction industry, project changes constitute a major cause of delay, disruption, cost increases, poor quality and unsatisfying performance. They are also known as a main factor of litigation between the owners and constructors. Construction projects are essentially process-based, and with the critical role of Information Technology (IT) in this industry, projects, especially mega projects, are being managed remotely. The volume of data and documents, such as Requests For Information (RFIs), different types of Change Requests (CRs) and Project Change Notices (PCNs), being transferred and exchanged amongst the stakeholders of a project is considerable. The circulation of these documents amongst project stakeholders still heavily relies on two methods or levels for management of change process; Conventional (fully paper-based, Faxes, Snail mails) and Electronic or semi-automated (Email, Internet, PDF files). These two methods are dependent on human discipline to follow specified processes which often break down because of human nature. This creates serious compliance problems. It is hypothesized here that fully that automated process-based management of change can lead to better compliance, more efficient management of change, and reduction of time and cost of data exchange. An approach of doing this is presented in this paper. Ultimately, its impact should improve project performance. Conclusions are presented on time savings and improved compliance.

Aug 1, 2013

By I. R. Jonasson, R. W. Boyle

"Current interest in the distribution of mercury in the natural environment comes from quite different, though not unrelated, sources. Mercury has long been an important metal in many industries and has, therefore, been much sought after by mining interests. The presence of mercury traces in the various media of the natural environment, namely soil, rock, air, water and vegetation, is exploited by geochemists not only to find mercury and polymetallic ore deposits, but also to find most other types of economic metal mineralization. More recently, however, mercury has caught the attention of health authorities and environmental scientists who are becoming increasingly concerned over the hazards of mercury wastes and the danger these present to the environment and to man. It is now apparent that the trace quantities of mercury, considered so important and helpful to exploration geologists, can be concentrated in the biosphere to such levels as to present considerable problems for ecologists. This article summarizes most of the available data on mercury contents in materials of geological interest and presents average normal values for rocks, ores, minerals, soils, sediments, waters and plants. The geoch.emical cycle for mercury in nature is presented and the mechanisms of mercury migration around the cycle are discussed."

Jan 1, 1972

By Sakellariou M., Ferentinou M.

Determination of the nonlinear behavior of multivariate dynamic systems often presents a challenging and demanding task. Therefore, complex geomechanics systems are an ideal area for the application of intelligent methods. Often the physical problem is controlled by nonlinear equations, conveying to the use of neural networks. Hudson, (1992a), aiming at efficient engineering modelling and design, introduced and developed Rock Engineering Systems (RES) approach, through the implementation of generic interaction matrix GIM. This approach has been used for a wide variety of rock engineering and other problems, resulting in many case studies available, which illustrate the application of RES to rock engineering problems. Considering the spectrum of the coding methods for the Generic Interaction Matrix, we suggest an objective coding approach. Among the five proposed coding GIM methods, the coding method according to the slope of Pi and Pj relation is relatively accurate, but it might be difficult or impossible to establish or estimate the exact relation of Pi vs Pj for most of the variables involved within a rock engineering system. Self organising maps, are a special type of unsupervised artificial neural networks, which can learn from complex, multidimensional data, and transform them to visually decipherable clusters. The proposed, coding of the GIM, is performed through the combined use of scatter plots produced through, (SOM), and the coding according Pi vs Pj slope. Naghadehi et al., (2013) constructed a database of worldwide experience, in open-pit mine slope stability, the selection of the principal factors was based on Hudson (1992a) who proposed an ‘atlas’ of factors affecting the stability of rock slopes. Slope classification was performed according to status of stability. The rating of the GIM matrix was completed, coupling scatter matrix produced by SOM training, and Pi vs Pj slope plot. Results refer to the identification of clusters, according to status of stability within the original multivariate data set, and the rating of the principal factors according to the dominance and interaction intensity within the open pit mines RES.

Jan 1, 2015

By Georgy A. Cherkashov, Andrey V. Efimov, Yury S. Borodaev, Nadezhda N. Mozgova, Sergey G. Krasnov, Tamara V. Stepanova, Alexander M. Ashadze

"Abstract - A horizontal mineralogical-geochemical ore zonation with a southeast to northwest trending succession of Cu and Fe (Zn) main zones has been discovered in the Logatchev hydrothermal field (14°45??N Mid-Atlantic Ridge). The major minerals are pyrite, chalcopyrite, bornite, isocubanite, digenite and chalcocite. Zn-sulfide, marcasite and covellite are less abundant. Rare minerals are native copper, zincian copper and cobalt pentlandite (first found in oceanic massive sulfides), Cu and Cu-Co-bearing Fe-disulfides. Two groups of the main sulfide assemblages with different copper contents are recognized: Group I comprises assemblages with primary sulfides (isocubanite, chalcopyrite, pyrite and Zn-sulfide; Cu up to 35 wt% in Cu-bearing minerals); Group II contains assemblages with secondary Cu-rich sulfides (bornite, digenite, chalcocite; Cu ~60 wt%) as well as rare minerals (cobalt pentlandite, native copper and zincian copper). The assemblages of Group I formed at a temperature of about 300°C; the sulfur fugacity (log fs2 atm) at 300°C is probably 9.9. Relations between minerals of this group are contradictory, attributed to non-equilibrium environments, and no unified sequence of crystallization of minerals has been determined. Minerals of Group II replace, rim or cross the assemblages of Group I. Group II minerals crystallized in a distinct sequence (cobalt pentlandite-bornite-digenite- chalcocite-native copper), with increasing copper content from the start to the end of the depositional sequence. This may correspond to pH from 7 to 8 near Eh = -0.2 at 250°C. Minerals of this group were generally formed under hypergene alteration processes. Compositions of ore minerals were studied by means of electron microprobe analysis (EMPA) (150 analyses). Narrow composition fields were revealed in all main sulfides, which comprised known experimental data. ZnS contains 6.0 to 28.0 mol.% FeS, which is close to data known for other hydrothermal massive sulfides from the Mid-Atlantic Ridge (MAR). A common admixture in ZnS is Cu (0.16 to 1.32 wt%). Rare grains of unusual anisotropic Fe-disulfides, (Fe0.95Cu0.05)S2 and Cu(Fe,Co)9S20, were found among the ore minerals."

Jan 1, 1999

By M. Hekmati, M. R. Garmsiri, S. M. Hosseini

"SAG/AG mills have been most common choice in grinding circuits last decades. In the most cases, at the discharge of SAG/AG mills, a trommel screen is used that is equipped with baffles to provide appropriate residence time and improve separation efficiency. Using baffles, with the resultant maintenance requirements could lead to decrease in mill availability. In this research, an innovation in the structure of baffles of a trommel is presented. The results show that using new baffles led to 67% decrease in SAG mill downtime due to problems of baffles and 80% decrease in fine particles on recycle conveyor.INTRODUCTIONComminution is a vital operation in mineral processing circuits and it helps to achieve a certain level of fineness in the ore material. About 60-80 % of the overall energy used in mining is consumed in comminution, and this is the reason that much research has been performed in this field (Kochnev, 2008).During the last decades the configuration of grinding circuits has been changing due in large part to the decrease in the grade of mineral resources and the need for large scale, energy efficient processes. The previous configuration of conventional grinding circuits was based on parallel primary circuits (mostly using ball mill), such as the grinding circuit of Sarcheshmeh concentrator plant no.1 (Figure 1). The new configuration of grinding circuits is based on using SAG/AG mills, such as Shahrebabak concentrator plant (Figure 2), sometimes incorporating new technologies like the HPGR. Nowadays, application of new configuration of grinding circuits using large SAG/AG mills up to 40 feet (Allan, Major, Flintoff, Klein, & Mular, 2006), in the minerals industry is continuing increase due to the significant reduction in capital and operating costs, and increase in the plants throughput (Banisi & Hadizadeh, 2007)."

Jan 1, 2012

By A. Rodriguez-Prado

"Magnetic fields affect the growth of cultured cells and plants; however, limited information exists about their effects on vegetation performing environmental remediation. Constructed wetland mesocosms treating hexavalent chromium (Cr(VI)) wastewater exposed to low-intensity magnetic fields (60 Hz, 56.5 × 10-6 Tesla) produced 100% more biomass than the unexposed control. Nonetheless, they removed only 43 ± 27% of Cr(VI), compared to 60 ± 21% for the control. A Cr(VI) reduction expression was developed as a function of the magnetic field. The design and operation of constructed wetlands to treat mining wastewater can be corrected for magnetic field effects.RÉSUMÉ Les champs magnétiques affectent la croissance des cellules et des plantes cultivées; toutefois, il existe peu d’information quant à leurs effets sur la végétation utilisée à des fins d’assainissement environnementale. Les mésocosmes des marais artificiels traitant des eaux usées, contenant du chrome hexavalent (Cr(VI)), exposés à des champs magnétiques de faible intensité (60 Hz, 56,5 × 10-6 Tesla) ont produit 100 % plus de biomasse que le contrôle non exposé. Néanmoins, ils n’ont enlevé que 43 ± 27 % du Cr(VI), comparativement à 60 ± 21 % pour le contrôle. Une expression de réduction du Cr(VI) a été développée en tant que fonction du champ magnétique. La conception et l’exploitation de marais artificiels pour traiter les eaux usées des mines peuvent être adaptées pour tenir compte des effets des champs magnétiques."

Jan 1, 2015

By J. Zhou1

"The extractive metallurgy of gold ores is largely driven by their grade and mineralogy. The concentration of gold in the crust is extremely low and highly variable, resulting ore variability in many gold and copper-gold deposits. More importantly, gold in an ore may occur in two or three forms (i.e. microscopic gold, submicroscopic gold and surface gold), making gold ore processing extremely challenging. Geometallurgy is a technique to document variability within an orebody and quantify and evaluate the impact of many factors including geology and mineralogy on grinding, flotation, leaching and metal recovery processes. The objective of gold geometallurgy is to reduce and minimize the technical risk in project evaluation, plant design, mine planning and production forecasting through geometallurgical modelling, representative sampling and subsequent systematic mineralogical and metallurgical testwork. Gold deportment study is a powerful tool in characterization of various gold ores. Effective and quantitative gold deportment results are critical and useful for predicting gold recovery and building geometallurgical models of gold ores. This paper provides an overview of geometallurgy fundamentals and applications in gold processing, with a focus being on the ore characterization and gold deportment study.INTRODUCTION Geometallurgy is an inter-disciplinary approach which links the geological, geochemical and mineralogical characteristics to the metallurgical performance of an orebody. Combined with mine planning, it has been used in scoping, prefeasibility and feasibility studies, process design and optimization of gold, copper-gold, copper-moly, nickel and iron projects among others (Williams & Richardson, 2004; Dobby, Bennett, Bulled, & Kosick, 2004; Bulled, 2007; Bulled, Leriche, Blake, Thompson, & Wilkie, 2009; Kormos, Sliwinski, Oliveira, & Hill, 2013; Muinonen, Sciortino, Korczak, & St-Jean, 2013; Leichliter & Larson, 2013; Leichliter, Jahoda, & Montoya, 2013; Hatton & Hatfield, 2013; Baumgartner et al., 2011, 2013; Hoal, Woodhead, & Smith, 2013; Zhou, 2013). The goal of a gold or copper-gold geometallurgical program is to characterize and understand the metallurgical variability of an orebody, such as comminution, gravity, flotation and cyanidation parameters and metal recoveries, and to build a geomet model which can be used to assist in mine planning and to predict the plant performance. In any geometallurgical program, representative sampling is the key to ensure the results of a geometallurgical study will reflect future performance once the plant is commissioned. Geometallurgy compliments, but does not replace, the traditional mineralogical and metallurgical approach during the development and operation of a gold or copper-gold project. Geometallurgy is a methodology for testwork design and a framework for mine planning. The first part of this paper provides an overview of geometallurgy fundamentals and application in gold ore processing."

Jan 1, 2017

By MaryAnn E. Crichton, David G. C. Clarry

"Environmental risk is becoming more important in debt and equity financing decisions in the mining industry worldwide. Demonstration of good environmental management practices and management systems has a direct impact on the ability of mine developers, operators and investors to raise financing. Based on experience in providing due diligence services, there are a number of factors that are important in assessing financial risks related to environmental issues in either new projects or existing facilities. A frame-work for understanding the importance and priorities of each element of environmental management is presented.IntroductionIn the context of lending money to a corporation, environmental issues represent another aspect of credit risk (Henry, 1989). These issues, because of their nature, represent the potential for large unforeseen expenditures if they are not known or acknowledged and are not being proactively managed. Lenders, other investors and their advisors, are becoming increasingly aware of the potential financial impact of environmental issues. Consequently, they are increasing their requirements for environmental audits to review the environmental issues, management practices and systems when they are considering financing mining and/or metallurgical processing operations worldwide.Many banks have signed the United Nations Environment Program (UNEP) Statement by Banks on Environment and Sustainable Development. Banks in this category include National Westminster Bank, the Union Bank of Switzerland, Deutsche Bank, and the Royal Bank of Canada."

Jan 1, 1997

By Patrick Wong, Gareth Hatch, M. A. Halim, V. I. Lakshmanan, Darcy Tait

"This paper describes development of an integrated chloride process for separation and purification of REEs. The process includes atmospheric leaching of ore/concentrate with mixed chloride lixiviant containing HCl and MgCl2 followed by bulk recovery of REEs, dissolution of the bulk intermediate product, and separation of individual REEs by solvent extraction (SX) process steps. Mixed chloride leaching technology provides the opportunity to regenerate the lixiviant, while the addition of MgCl2 in HCl enhances the hydrogen ion activity by orders of magnitude increasing REE extraction efficiency at a lower concentration of HCl. An individual REE separation process developed by Innovation Metals Corp. is being piloted at a state-of-the-art facility at Process Research ORTECH Inc. in Mississauga, Ontario, Canada. The SX process includes the separation of light REEs (La – Nd), medium REEs (Sm – Gd) and heavy REEs (Tb – Lu plus Y) from leach liquor followed by individual REE separation. Each SX circuit proceeds by multistage extraction followed by scrubbing and stripping. The process is chloride based and reagents are recycled, reducing waste generation and optimizing water usage to reduce environmental impact.INTRODUCTIONRare earth elements (La to Lu plus Y) exhibit a range of unique magnetic, electronic, catalytic and optical properties. Due to these special properties, the application of REEs is increasing and they are found in components for wind power generation, hybrid electric cars, catalytic converters, and many electronic devices.Rare earth elements (REEs) are commonly divided in two groups: light rare earth elements (LREEs) and heavy rare earth elements (HREEs). Light rare earth elements include elements from lanthanum (La) to neodymium (Nd). Although promethium (Pm) is considered an LREE it is unstable and scarcely occurs in nature and is generally excluded. Heavy rare earth elements include elements from samarium (Sm) to lutetium (Lu) plus yttrium. Although rare earth elements are not rare and the rare earth oxides are scattered around the globe, over 95% of REEs+Y are currently produced in China (Pitts, 2011). On one hand the Chinese government is restricting the export of rare earth elements and on the other hand the demand for REEs+Y is increasing in the rest of the world. This has created an imbalance in the supply and demand of rare earth elements and has led to a rush for developing new rare earth projects."

Jan 1, 2016

By Charles Camsell

At the last annual meeting of this Institute the programme very properly was drawn up and carried out with the special object of calling attention to the Dominion's position and problems with regard to fuel supplies. That subject, always one of serious concern, was a source of considerable anxiety twelve months ago. It is still so, but in a decidedly less degree than at that time. So far as the immediate fuel situation is concerned our anxieties have been relieved. And I think we can safely say that such a consciousness of our difficulties and determination to overcome them, has been developed in the minds of our people that there will be no slackening of the offensive until a final solution is reached. In selecting a subject of major importance for the present occasion I have felt free to digress from the pressing problems of last year and to go back, for a starting point, to the presidential address of two years ago .. I do not, however, wish to enter the controversy that has developed as a result of that address, though in spite of my own failure to amass a fortune from participation in certain mining ventures, I am decidedly inclined to the optimistic view that Dr. Corless presented of the future of our mining industry. You will perhaps have observed that in its general wording the title of my paper bears a marked resemblance to that of that address. This simila1ity of titles is not accidental. It is intentional on my part.

Jan 1, 1924

By B. Wasmund, M. Parravani, M. Jastrzebski, Z. Coull

"One of the main drivers of overall profitability of pyrometallurgical vessels is refractory lining campaign life. Increased economic pressure to improve vessel life requires innovative solutions to the problem of refractory cooling. Hatch has recently developed a high-intensity, waterless cooling system that bridges the performance gap between external shell cooling and internal water-cooled copper elements. External shell cooling has a limited effectiveness in protecting the refractory lining, because it is thermally insulated from the hotface of the lining by its thickness. This situation does not improve until the lining itself has become worn near the end of the campaign. The patented technology developed by Hatch overcomes this problem by positioning high-velocity air-cooling channels within the lining, closer to the hotface where the cooling benefits can be realized throughout the entire duration of the campaign. The current paper presents the development and application of Internal Air Cooling technology as well as results from the pilot campaign in an operating commercial vessel. Various adaptations for this novel, cost-effective and inherently safe system are also discussed."

Jan 1, 2015

The principles and utility of in-situ coal gasification are discussed, and a first field test conducted by the Alberta Research Council in 1976 near Forestburg, Alberta, is described. The test was carried out in a 12-ft subbituminous coal seam under 60 feet of cover. Within this seam, a 30 by 60-foot block , containing approximately 650 tons of coal, was delineated by four injection/production holes which were oriented to take advantage of the natural fracture system in the coal. Linkage between holes was established by reverse combustion and gasification was accomplished by injecting air into the ignited coal. No steam was injected but operating pressures were adjusted to utilize formation waters for partial carbon -steam gasification. The coal gasification runs lasted six weeks and gasified an estimated 900 tons of coal ,' during sustained periods of gasification, a fuel gas with heating values of between 110 and 150 Btu/scf was obtained. Plans are now being developed for excavating the test site and inspecting the subsurface cavities created by gasification.

Jan 1, 1977

By J. P. Norrie

The presence of copper-bearing rocks in the Coppermine River area of Arctic Canada has long been known. Word of this was probably circulated along the Arctic and Hudson Bay coasts by the Eskimo, who no doubt traded articles made from native copper among themselves. It is not known whether any of these ever reached the southern shores of Hudson bay. The Indians, also, knew of the occurrence of copper here, as they served as guides to Hearne when he made a successful trip over land from Hudson bay to the Coppermine river. The possible commercial importance of these copper deposits was early appreciated by the Hudson's Bay Company, who on December 7th, 1770, despatched Samuel Hearne from Fort Prince of Wales, now Fort Churchill, to investigate them. He reached the then unnamed river at a point forty miles from its mouth on July 14th, 1771, and after surveying the river to its mouth and naming it the Coppermine, he retraced his steps to Fort Churchill by an overland route. Hearne's expedition was probably the most remarkable and arduous ever attempted in Arctic exploration, but the actual value derived from the trip was entirely out of proportion with the hardships he must have suffered. He verified the occurrence of native copper, but his astronomical and other observations were of little value. Until 1912 no concerted effort was made to obtain any definite information as to the geology and economic value of the Copper-mine deposits.

Jan 1, 1931

By Edgar A. Manker

"Today's market for columbium has only developed in the last two decades, and in this sense it is ""newer"" than molybdenum, vanadium and most other steel alloying elements. In this short period, it has assumed a very important role in steel alloying and in superalloys. From a few hundred thousand pounds of columbium in 1960, consumption has grown to nearly 30 million pounds per year, with a market value approaching two hundred million dollars.To assess the outlook for columbium, we will first consider the historical development of consumption and supply, particularly noting that all of today's major mines were developed during the last two decades. From current production, we will attempt to reasonably project the future. This future may well include new producers, particularly some producing columbium as a co-product with tantalum.The growth of current applications, and emerging new applications, will be considered with regard to future consumption and in relation to future trends in pricing.IntroductionThe nineteenth century was a busy time for the discovery and naming of new elements. Among those discovered were columbium in 1801 and niobium in 1844. Although it was later shown that columbium and niobium are the same element, the two names are still used today. Niobium has been pronounced the ""official"" name by the International Union of Pure and Applied Chemistry, but columbium is still widely used in commercial practice, and we have chosen to use columbium in this paper."

Jan 1, 1981

By Robert J. Shank

This paper describes the Federal Government assistance available for northern mining development. The paper commences with a discussion of why the Federal Government should give assistance to northern mining development. It then uses a hypothetical case of a company which has a property it wants to develop to list the sectors within the . Federal Government that would have to be consulted in order to obtain federal financial assistance. The paper also outlines the type of information a company must be willing to provide the government in order to qualify for such assistance.

Jan 1, 1978

By Graham Farquharson, Jame Marshall

"Mining towns have always been an important part of Canadian geography. Many Canadians grew up in them. The frontiers of northern Canada would be a lot closer to the United States border but for the pioneering of new mines, new towns, and new transportation routes. Names such as Labrador City, Chibougamau, Val d’Or, Rouyn-Noranda, Kirkland Lake, Timmins, Sudbury, Red Lake, Thompson, Flin Flon, Yellowknife, Whitehorse,Trail and Kimberley are some of the better known larger communities that have grown to become major commercial and government centres, but which started as the base for a mining development.Many other smaller towns never grew beyond being small communities, dependent upon the local mine and many of these are still alive, but perhaps not quite what they used to be. In this list would be Buchans, Schefferville, Chapais, Cadillac, Virginia town, Lynn Lake, Uranium City, Pine Point, and Keno Hill.Nevertheless, all these towns and dozens more like them were residential communities where people lived and raised families and were quite accustomed to being days from the major centres of Montreal, Toronto, Edmonton and Vancouver, and not just hours away as wet end to measure travelling time today."

Jan 1, 1996

By Sydney H. Ball

It is a peculiar anomaly that while the world uses the term "rich as a gold mine" as the superlative figure of speech descriptive of wealth, the shares of gold mines are not as popular investments in America as certain of them should be. One of the most able of Manhattan's bankers is a director in an investment trust with a portfolio the value of which has gone the way of other such portfolios. Luckily a couple of years ago a few hundred shares of Homestake were purchased, and since then the trust has not only received therefrom satisfactory dividends but has benefitted from a large appreciation in their value. At each directors' meeting, however, the banker in question, Cato-like, suggests the sale of these shares, gold shares being, in his opinion, too speculative to be included in the portfolio of any trust. A short time ago the financial pages of one of our great metropolitan papers featured an article listing the corporations still paying dividends at the 1929 rate. Gold-mining shares were, the article stated, excluded, although in reality every gold mine on the New York Stock Exchange paid higher dividends in 1932 than in 1929. This 'Alice in Wonderland' treatment of the gold-mining shares is admittedly a bit confusing to those of us who believe that the shares of certain gold-mining companies have a rightful place in any well diversified portfolio. It should, however, here be recorded that whereas, fifty years ago, in America, gold-mining shares were considered by the public as instruments of nefarious gambling, now shares of the better gold mines are sought by astute investors. In England for well over a generation their value as sound investments has been widely recognized.

Jan 1, 1933