Search Documents

By C. G. Hunkin

In situ, or in-place leaching is concerned with the extraction of metals from natural mineral disseminations without removal from their geologic location which, in many cases, amounts to the reversal of the deposition process accompanied by a presumed increase in velocity of the processes, if the project is to be profitable. Solution mining processes involve removal of minerals such as sulfur, common salt, and potash, generally leaving cavernous voids, in contrast to in situ leaching which term is applied to the selective dissolution of a mineral from its gangue without sensible disturbance of the formation. Where such a process can be operated, the advantages are manifold and have been so recognized by miners from the earliest days of mining. Recent technological developments have encouraged a reassessment of the status of in situ leaching, and it now appears possible to extend the application of the method from a few isolated special situations to many uranium and copper deposits. Anaconda's interest in the techniques stems from long experience with vat and heap leaching, 'dump leaching, and natural leach activities associated with several established mines. Increasing activity through-out the industry has been noted, particularly in leaching low grade pillars and the peripheral zones of operating mines, often by the introduction of leach solutions via boreholes drilled from surface. Reactivation of dormant mines] using similar techniques has been successful. Over the long term, environmental improvement activity will lead to excess sulfuric acid production, even to a disposal problem. The cost of leach solutions and reagents must be reexamined in this light. The mineral industry now classifies as uneconomic deposits of readily soluole minerals whose potential value, on a per acre basis, may De several times that of many currently profitable oil field reser-

Jan 1, 1971

By Roland Trunk, Marcel Imbach, Yves Boissonnas, Jan Vesely

"INTRODUCTION The expansion of the Suez Canal, which runs between the Mediterranean and Red Sea, is at the top of Egypt’s economic agenda. The £8 billion development plan includes a new channel alongside the existing one which will double the number of ships able to pass each day and several tunnels to connect the Sinai peninsula to the main part of Egypt. The Egyptian government ordered three new tunnels under the Suez Canal in the area of Port Said as part of the Canal Region Development Plan. The three tunnels will contribute to the North Sinai expansion, helping to create a vast industrial zone and completing the coastal road extension from Rafah to Nuewiba. Two of these three tunnels will be allocated for roads and the third for railway traffic. A further part of the Suez Canal development mega project are an additional six tunnels in the area of Ismailia and Suez. The focus of this paper is on the two road tunnels in Port Said and will give an overview of the project and the challenges encountered regarding the technical complexity and tight time schedule both in its design and execution. PROJECT OVERVIEW The tunnels will be built in the area of Port Said (see Figure 1) which is the most northern part of the Suez Canal.The road alignment connects the Port Fuad Road in the east bank of the Suez Canal to the Port Said-Ismailia highway in the west bank with a dual carriageway section. Each of the carriageways has two lanes. The bored diameter of the 2.8 km long road tunnels is 13.050 m and will be driven with two Mix-Shield TBMs. The distance between the two tunnel axes is planned with 42.5 m (discussion about a reduction are ongoing). The width of the Suez Canal is around 340 m at upper level and around 170 m at the bottom. During the TBM drive, three main geological layers are expected. Below a depth of around 40 m in a very soft clay layer, a dense to silty sand layer is predicted. Within the sand layer another silty hard clay is expected in different depths with variable thickness. After finishing the excavation of the road tunnels, the same TBM will be used for the railway tunnel. The lowest points of the road tunnels will be located 59 m below the surface (tunnel invert to surface) and only 18 m of ground cover exists between the tunnel crown and the Suez Canal invert. Minimum ground cover over the tunnel crown is approximately nine meters at the tunnel portals."

Jan 1, 2016

By Dr. Ing. Hermann Boldt

The Bituminous Coal Mining Industry of the Federal Republic of Germany produces nearly 100 million t/yr of clean coal. The largest coal mining area is the Ruhr District with dimensions of 100 x 40 km (65 x 25 miles). Figure 1: Here is the general administration of Ruhrkohle Akteingesellschaft RAG with its three divisions. Other coal mining areas in Germany are the Saar District and the Aachen District. Ruhrkohle produces 70 million t/yr of clean coal. The company operates 28 mines in the Ruhr District with an average raw coal production of 18000 t/day. Their average mining depth is 831 m (2740 ft.) and the average seam thickness is 177 cm (70 in.). Figure 2: Preparation plant reject is 44.6%. All following production figures will be with reference to raw coal because the raw coal production is the technically relevant number. Mining operations are mainly in non-dipping coal deposits whereby mechanized equipment for flat seams is also applied to deposits dipping up to 45? Coal extraction is done exclusively by the longwall method. Approximately 200 longwall installations are in production at any time. The average longwall length is 221 m (730 ft) ranging between 140 and 290 m (460 ft and 960 ft). The average longwall advance of all operations is 2.8 m/day (8.4 ft per day). Average production

Jan 1, 1977

Refractory gold concentrates often contain submicroscopic gold that is encapsulated within the crystal matrix of iron sulfide minerals, such as pyrite, pyrrhotite and arsenopyrite. To recover the gold, the host mineral must generally be broken down chemically by oxidative processes, such as roasting, pressure oxidation or bacterial leaching, which expose the gold for subsequent recovery by leaching in cyanide solution. The focus of attention in these pretreatment processes is usually the oxidation of the sulfides to elemental sulfur, sulfur dioxide gas or sulfate ions. Less attention is paid to the deportment of iron and the changes in its oxidation state, although this can have a profound effect on gold and silver liberation, as well as downstream operating costs. Iron sulfide minerals break down completely during pressure oxidation, and dissolve in the sulfuric acid solution that is gener-ated from oxidation of the sulfides. This dissolution liberates the tiny gold particles that were originally trapped in the sulfide crystals, and gold recovery during subsequent cyanidation is usually very high (>95%). Iron goes into solution in the oxidation process, initially as ferrous sulfate, but this compound is rapidly oxidized to ferric sulfate, which then hydrolyzes and reprecipitates. The form of the precipitate varies depending on the operating conditions in the autoclave and the presence of certain metal cations. When the acidity in the autoclave is quite low (<20 g/L H2SO4) and the temperature is high (>200°C), the formation of hematite is favored. When the acidity is high (>20 g/L H2SO4) and the temperature is relatively low (160 to 200°C), the formation of basic iron sulfate is favored. If the ore or the leach solution contains significant levels of certain cations (such as Na+, K+, NH4+, Ag+ or Pb2+) and the acidity is high (>20 g/L H2SO4), jarosite compounds are favored. Hematite is the desired iron product in the autoclave discharge, for both metallurgical and environmental reasons, but it is difficult to operate an autoclave under the conditions required for effective liberation of gold without converting some of the iron to basic iron sulfate and/or jarosite. These compounds fall into a category of iron compounds known generically as iron hydroxy sulfates, all of which can cause significant processing and environmental problems in the downstream gold process. This paper deals specifically with basic iron sulfate: the conditions under which it is formed in an autoclave, the problems that are caused by its presence in the feed to a cyanidation plant and possible remedial strategies that can be adopted, both in the autoclave and downstream.

Jan 1, 2010

By Charles R. Jenkins

Three sedimentation ponds had their performance evaluated before and after installation of modifications. Each pond had a floating baffle installed, two had siphon outlets and one had a floating outlet device. Baffles inhibited short circuiting, and the outlet devices retarded flow following a rainfall event, and drained the pond creating a large storage volume to maximize detention time. Total suspended solids and settleable solids tests were run on samples of influent and effluent to evaluate pond performance. Particle size analyses were run on samples containing measurable amounts of solids. Performance improved in each pond, with baffles providing the major improvement. Through the entire surface mining process un- protected soil is exposed to direct rainfall and subject to accelerated erosion. Without controls, receiving streams would be "choked" by the additional sediment load. Several states, including West Virginia, require that sediment control ponds be constructed to trap the sediment before the water enters receiving streams. Even well designed ponds have exhibited difficulty in meeting effluent limitations. In a study supported by EPA, about half the ponds did not meet effluent limitations (1). There is a critical need to reduce sediment losses using presediment pond controls or by improving sediment pond performance. The objectives of this study were to evaluate modifications designed to improve sediment pond performance by; 1) monitoring three ponds prior to modification, 2) install floating baffles and 3) modify the principle spillway and determine the change in pond performance.

Jan 1, 1985

By Barbara J. Arnold

A coal&apos;s size distribution, clay content and moisture content can affect its handling behavior, but the combined effects of these properties and the effects of other properties are not known. Research underway at CQ Inc.&apos; s (formerly EPRI&apos; S) Coal Quality Development Center (CQOC) and at Iowa State University (ISU) will answer these questions as part of a four-year project to develop a coal handleability index for utilities to use when specifying coals. This paper will present preliminary data from the first year of the project, which focused on obtaining data on the chemical and physical properties of various coals and their measured handling properties. Additionally, size, ash and moisture analyses and shear test data for several coals used at one power plant will be presented along with correlations between these physical and chemical properties and the measured handling properties. These data lead to the conclusion that, while moisture content-is the most important variable, the amount of -325M (-0.044 mm) coal fines is a significant factor in determining coal handling behavior.

Jan 1, 1990

By L. Adler

In spite of distractions from glam-our areas (ground control, computers, etc.), excavating and bulk handling in mining remains paramount but is now undergoing dramatic advances. The massive intervention of mining and civil engineers as "engineer-users" into the tight, exclusive, and specialized bond between the equipment operator ("operator-users") and the manufacturer (mechanical engineers "and sales "reps") has now occurred. Three developments have accelerated this: 1) larger, more costly, complex, specialized, and innovative equipment; 2) a more profound understanding of the equipment, operations, and working conditions (encumbered space); and 3) a concurrent thrust into "high-tech," (automatic and remote controls, sensors, automation, artificial intelligence, and even robotics) and human factors (workload intensity, work-station design). This has produced a well-defined professional discipline, including construction and even military engineering. The mine plant, and to a lesser extent, the mine face, is now being monitored. Equipment conferences, journals, and centers at universities and agencies have multi-plied. The discipline&apos;s impact on future mining now becomes more apparent.

Jan 1, 1988

By Arthur A. Schweizer

A method to improve the quality of Magmnt zinc concentrates to become acceptable feed to an electrolytic zinc refinery. The magnesia content of zinc concentrates produced was too high due to particle locking with the sphalerite in coarse fractions. Regrinding of the concentrates to a very fine particle size and then refloating the sphalerite was chosen to eliminate a sufficient amount of the magnesia to make the concentrates acceptable.

Jan 1, 1981

By I. Weir-Jones

I. Introduction The experimental work described in this paper was carried out during 1967 and 1968 in an inclined reinforced concrete adit which had been driven during 1965 and 1966 to provide primary access for a new gypsum mine. The new mine was situated near the village of Sherburn-in-Elmet in central Yorkshire in an area of extensive post-glacial plains of deltaic and lacustrine origin. These plains cover a large area of this part of Yorkshire extending inland from the coast for a distance of about 35 miles. The gypsum deposit at Sherburn dates from Permian times and it is considered" to have been associated with the western-most edges of the ancient Zechstein Sea which was also responsible for the formation of the extensive evaporite deposits in north-east Yorkshire. The gypsum deposit, which varies in thickness from 10 to 15 feet, is extremely pure and it occurs quite close to the surface; in the Sherburn area the overburden is only 120 feet thick. The proximity of the deposit to the surface, however, tends to give a somewhat false idea of the magnitude of the problems associated with its extraction. These problems were all related to the nature of the overlying strata. As has already been mentioned, the surface deposits are post-glacial and they consist of an extremely large number of thin layers of varved clays, fine silts and sands extending down to a depth of 75 feet. From the bottom of the post-glacial deposits to the seam, a distance of about 45 feet, the strata consists of a succession of marls, weak sandstones, and siltstones, which although they are inherently incompetent materials, are appreciably stronger

Jan 1, 1971

By R. D. Schmidt

An in situ leaching geochemical simulator consisting of flow, mass transport, and graphics support programs has been developed. Two dimensional flow in heterogeneous porous media is modeled using a semi-analytic boundary integral technique. This method involves mapping streamlines to straight line segments in the complex potential plane. Leachant concentration and mineral values are modeled in this plane using the (one dimensional) potential coordinates. A fully implicit finite difference scheme is used to solve the resulting coupled system of four concentration equations. Graphical representations of streamline patterns, concentration histories, profiles and recovery curves are generated. An application of the model to uranium leaching in a heterogeneous aquifer and ore zone setting is presented.

Jan 1, 1985

By Lennart Bergstedt

Boliden Aktiebolag, the prime base metal mining company of Sweden, annually treats some 11-12 million tons of sulphide ore in nine concentrators. Its first flotation plant was established in the early thirties for the complex Boliden ore. Since then, the number of mines and plants has gradually increased. Considerable effort has been devoted to the development of all phases of the technology of ore prospecting, mining, milling, smelting and refining. This has been necessary due to the complex and low-grade ores. The development of concentration has mainly been directed toward the arts of grinding and flotation. During the forties and fifties, open-stage fine crushing followed by two-stage grinding in rod and ball mills with cyclone classification was successfully introduced and used throughout the plants. The increasing cost of grinding media led to studies of an autogenous grinding technique as early as 1945. Basic test work commenced during the early fifties, with a. number of ores tested for pebble grinding. In 1956 a new pilot plant was built, with equipment installed for the continuous testing of pebble grinding and, later, for primary autogenous grinding of run-of-mine ore. The intensive test work showed that pebble grinding was feasible in almost all of the plants. At this early stage of testing, however, the merits of autogenous grinding could not be fully evaluated. As a. consequence the rod mill/ball mill grinding systems were converted to rod mill/pebble mill systems whereever possible. In parallel with the converting of grinding systems the development work concerning the merits of autogenous grinding went on. The major result

Jan 1, 1977

By Robert W. Cope

"Mining began, in the Colstrip area in the 1920&apos;s by the Northern Pacific Railroad. The coal was used for steam locomotives until 1957, when the advent of diesel power made them obsolete. In 1959, Montana Power Company purchased the Northern Pacific properties including the mining equipment, coal leases and the town of Colstrip. Western Energy Company, a wholly owned subsidiary of Montana Power Company was formed in 1966 to manage the mining operations in Colstrip. The Rosebud Mine officially re-opened in 1968 to supply coal for Montana Power Company&apos;s J. E. Corette Plant In Billings. Since 1970, Long Construction has operated the mine equipment for Western Energy Company". The Rosebud Mine is located in Southeast Montana and supplies coal to two 350 megawatt power plants located in Colstrip and one 180 megawatt plant located in Billings. Approximately 30 percent of Western&apos;s annual production is consumed by these plants. The remaining production is shipped to the mid-west and burned by utility companies and municipalities.

Jan 1, 1981

By Jill Dill Pasteris

Several mineralogical prospecting techniques are used in diamond exploration. Most are concerned with identifying indicator minerals such as garnet and ilmenite, which are derived from mantle xenoliths hosted by kimberlites. The first goal of such prospecting is to locate kimberlite intrusions; the second goal is to identify the diamond-bearing kimberlites. Explorationists have worked much less on the indigenous kimberlite phases. The kimberlitic opaque oxides, ilmenite and particularly spinels, promise to be useful in discriminating between intrusion episodes in identified kimberlites, and perhaps in the evaluation and prediction of diamond grades. Several petrologists have showed that spinel compositions and zoning patterns are specific to certain intrusive facies in South African and Canadian kimberlites. Careful evaluation may indicate a correlation between spinel parameters and diamond content.

Jan 1, 1983

By Mustafa Yalçin, Ali Ihsan Arol

Coconut shells are the most widely used raw material for the production of activated carbon used in the gold production by cynanide leaching. There have been efforts to find alternatives to coconut shells. Shells and stones of certain fruits, have been tested. Although promising results to some extent were obtained, coconut shells remain the main source of activated carbon. Türkiye has become a country of interest in terms of gold deposits of epithermal origin. Four deposits have already been discovered and, mining and milling operations are expected to start in the near future. Explorations are underway in many other areas of high expectations. Türkiye is also rich in fruits which can be a valuable source of raw material for activated carbon production. In this study, hazelnut shells, peach and apricot stones, abundantly available locally, have been tested to determine whether they are suitable for the gold metalurgy. Parameters of carbonization and activation have been optimized. Gold loading capacity and adsorption kinetics have been studied.

Jan 1, 1995

By J. Helton, J. L. Bellanca, M. McNinch, L. R. Swanson

DISCLAIMER The findings and conclusions in this paper are those of the authors and do not necessarily represent the official position of the National Institute for Occupational Safety and Health, Centers for Disease Control and Prevention. Mention of company names or products does not constitute endorsement by NIOSH. ABSTRACT Accident data indicates that mobile haulage poses a significant pinning, crushing, and striking risk. Proximity detection systems (PDSs) have the potential to protect mineworkers from these risks. However, unintended consequences of mobile PDSs can undermine the safety benefit they provide. Soliciting iterative user input can improve the design process. Users help provide a critical understanding of how mobile PDSs may hinder normal operation and endanger mineworkers. Researchers explored users’ perspectives by conducting interviews with mineworkers from seven mines that have installed mobile PDSs on some of their haulage equipment. Mineworkers reported that mobile PDSs affect loading, tramming, section setup, maintenance, and general work on the section. Mineworkers discussed the operational effects and increased burden, exposure, and risk. Mineworkers also suggested that improved task compatibility, training, logistics, and PDS performance might help address some of these identified issues. This paper also gives additional insights into mobile PDS design and implementation. INTRODUCTION Pinning, crushing, and striking accidents are a large problem in underground coal mines, especially for mobile haulage. Between 1984 and 2014 there were 179 non-fatal and 42 fatal pinning, crushing, and striking accidents involving mobile haulage vehicles, including coal hauling machines and scoops [1]. Proximity detection systems (PDSs)—automated systems that decelerate and stop a vehicle in order to prevent a collision—have the potential to protect mineworkers in these situations. In fact, PDSs are now required on all place change continuous mining machines as of March 16, 2018, as a result of the final rule published in January 2015 (30 CFR 75.1732) [2]. To address mobile haulage, later in 2015 the Mine Safety and Health Administration (MSHA) also proposed a new rule that would require PDSs on mobile haulage vehicles [3]. Though there has been no additional actions related to the proposed rule and it is not currently required, mobile PDS can still help to save lives. MSHA estimates that the adoption of mobile PDSs could prevent approximately 70 injuries and 15 fatalities over the next 10 years [4]. As of June 2015, the underground coal industry had already equipped 155 of the 2,116 mobile haulage vehicles in use [1]. In order to capitalize on the projected safety gains afforded by PDSs, it is important that the systems are designed and implemented effectively. Along with others, researchers at the National Institute for Occupational Safety and Health (NIOSH) have been exploring PDSs for more than two decades [5-7]. Throughout this time, NIOSH has also held several stakeholder meetings (2010, 2014, 2016, and 2017) in order to disseminate information and provide an opportunity to discuss on ongoing issues and concerns. Despite some progress, human factors remain a key concern. Previous research examined mineworkers’ attitudes towards PDSs on continuous mining machines [8] as well as how continuous miner operators’ perceptions of risk have changed as a result of PDSs [7]. However, stakeholders have still expressed a need to better understand how mobile PDSs affect the mining process, the mineworker, and whether and how they may present previously unidentified risks.

Jan 1, 2019

By Clement K. Chase, J. A. Eisele, Paul D. Chamberlain, Terry Laverty, Lee Rice, Larry Sevenker, Albert G. Law, Daryl Tweeton, John Peters

"Name your poison," wrote Forbes, Jan. 3, 1983, in an article describing the plight of much of the mineral industry as it entered the new year. "To ask which (mining) segment is better these days is almost like asking which of several stones would make a better life preserver." "The scene has seldom seemed darker or apparently less promising," said the Mining Journal in June 1982. And the Northern Miner described the year as the third in a "3-year drought which has completely dried up (company) coffers." Thus, 1982 became the worst year for much of the mining industry since the Great Depression. Low prices, commodity surpluses, output reductions, layoffs, temporary and permanent closures, and financial losses made headlines as the general recession continued to hurl blows at an industry facing strong foreign competition, increased government regulations, and plummeting market demand. At fault were tight US monetary policies and the resulting high interest rates that, while forcing inflation to slow, also threw the economic wheels of the country into reverse gear. Automobile production, housing starts, consumer durable sales, and capital spending all fell dramatically. US industrial production fell about 8.5% in 1982, with the GNP dropping by 1.7%. Production Value Not a single mineral escaped this recession. According to the US Bureau of Mines, US nonfuel production value dropped for all but four out of 21 metals and 14 out of 44 nonmetals. Production quantities increased for only gold, lead, and zirconium among metals and for only six nonmetals. Total nonfuel mineral production value dropped a whopping 21% from 1981 levels, the largest decline since 1938 and the first since 1971. Production value was estimated at $20 billion. Metal commodities showed heavier losses than nonmetals-37% vs. 12%-because of their link to depressed automobile and construction industries. Prices From peaks in early 1980, prices of precious and base metals, ferrous and nonferrous metals, and virtually every mineral dropped to 30-month lows in June 1982. Gold dropped to $9.64/g ($300/oz) compared to a high of $27/g ($850/ oz). Silver was quoted below 164/g ($5/oz) versus a $1.61/g ($50/oz) high. Copper was offered at a five-year low of $1.22/kg (55.5¢/lb) compared with a high of $3.30/kg ($1.50/lb). Lead went for 53¢/kg (24¢/lb) versus $1.21 (554). Nickel begged for buyers at $4.19/kg ($1.90/lb) compared to a high price of $7.72/kg ($3.50/lb). Molybdenum was available at or below $8.82/kg ($4/lb), down from a high of $44/kg ($20/lb). Cobalt went for $11/kg ($5/lb) versus $55/kg ($25/lb). Adjusted for inflation, increased currency costs, and currency devaluation, many of these prices are the lowest reached in decades. Financial Profits & Losses Low prices severely impacted companies&apos; earnings, turning profits into sometimes disastrous or fatal losses. Robert Norton, director of the US Bureau of Mines, noting there has been a recession in the mineral industry for years, said, "Profit rates as related to invested capital have been considerably lower (for mining) than those of other industries. Mineral industry profits have been subject to greater cyclical swings and debt equity ratios have been significantly greater than

Jan 5, 1983

By Neville G. W. Cook, John Kemeny

Utilizing the principles of elastic-brittle fracture mechanics, stress-displacement relationships are derived for an elastic solid containing a slip plane consisting of various configurations of collinear arrays of cracks. These models take into account the heterogeneous nature of slip planes as observed in the lab and in the field, and are relevant to the behavior of rock containing faults, joints, bedding planes, and fractures. All of our models exhibit slip weakening behavior, and show regimes of both stable (aseismic) and unstable (seismic) deformation. For given configurations of cracks and applied boundary conditions, our results show explicit ly the energy released through unstable crack growth. For instance, it is found that two equal length cracks growing together release more seismic energy than, say, a large crack growing into a small crack. Also, by allowing cracks to coalesce, our models show multiple stick-slip events without crack healing or other geochemical means.

Jan 1, 1986

By R. H. Thorpe

In the earliest days of mining coal the obvious method was by bord and pillar working. Longwall in Britain developed from this as an expedient to overcome bottlenecks arising from ? 1) increasing depth of seams causing roof control difficulties; and 2) ventilation problems. This system became almost universal particularly in the thicker seams, where faces of up to one mile in length were not uncommon. Coal getting in these faces was usually by pick and shovel, filled into small waggons of up to 15 cwts capacity. These waggons ran on rails laid alongside the coal face and were often taken away from the face to the main haulage roads by horses. The roof was supported by rigid props and the wastes were normally controlled by strip packing. This system of mining was very flexible and worked well down to sections of about 3&apos;6"

Jan 1, 1976

By R. S. Kinasevich

As part of other work related to the studies of kinetic factors that influence the flotation of specific sulphide minerals, specially designed kinetic flotation experiments at Cominco included work done on -65 + 100 mesh and -100 + 150 mesh, high purity galena. The flotation collector used was sodium isopropyl xanthate containing radioactive sulphur-35. Radiation monitoring of the galena fractions from stage flotation tests indicated that the adsorbed radioactive xanthate was uniformly distributed among the floated fractions and the non-floated, or residual portion of the galena. This anomalous behaviour could not be correlated to changes in Seebeck coefficients, to lattice distortions, or to the nature of the mineral surface as revealed by infrared spectroscopy and by microscopic measurements.

Jan 1, 1970

By Ronald J. Roman

As in every business venture, the primary objective of a mining operation is to make money for those who supply the venture capital. Therefore, all decisions concerning the operation of the mining operation should be made in light of the resulting effect on profit. The ultimate control is on profit, but the process is controlled, for example, by aiming for a recovery or concentrate grade knowing its effect on profit. The normal procedure used to determi.ne the profitability of a venture is to "present worth" all costs and incomes back to some arbitrary year zero. Every company has formed a management decision as to what it will require as a minimum return before it will undertake an investment. Once the economic analysis is completed, investment will be made only if the venture shows a positive present worth. If two alternatives are available, the alternative with the larger positive present worth is the one chosen. The same principles can be applied to the selection of a production schedule.

Jan 1, 1971