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By C. R. Tinsley

Investment activity in the Pacific Rim of Fire has seen a phenomenal surge from epithermal gold exploration. Individual countries are attractive because of lower up-front minerals lease costs (US, Canada), better geological prospectivity (Chile, Indonesia), or cheaper equities (Australia). Since the October 1987 stock-market crash, large companies are shedding minority joint venture interests to focus on core businesses. Some vertical integration is evident in Japanese coal investments in the Pacific Rim. This paper does not cover the aluminum industry oligopoly which is multi-national in character nor does it cover the many Canada to US minerals investments. It will be interesting to see if the new US-Canadian free-trade treaty will reverse that investment flow.

Jan 1, 1990

By Meyer Klein

Decision theory is the formal theory of the logic of decisions in view of the decision maker's objectives, preferences, I beliefs, and available information, It usually deals with weighty economic problems involving irrevocable (or costly to reverse) decisions. Capital investment planning problems constitute an instance par excellence for application of the decision theory concepts. Decision theory as it is presently conceived has evolved in recent years. At first it concentrated on decisions in the face of total lack of information and on games with intelligent adversaries. The results of these efforts proved theoretically interesting, but practically of little applicability. In the last few years, stress has shifted to the introduction of subjective probabilities and preferences, and the results have been eminently successful in applications both in government and with- in business firms in the resolution of complex problems.

Jan 1, 1970

By AIME AIME

A PERIOD of business depression and falling prices always raises questions as to the possible responsibility of the monetary or banking system. This is natural enough, for it is agreed that the supply of money or credit is a very important factor in modern business and in prices. However, it is far from being the only important factor. One of the chief merits of the gold standard is that under its workings the supply of currency and credit is regulated automatically to the masimun extent, in- stead of by the control of any arbitrary authority. The supply of new gold comes from the mines, and mining is free. It is distributed among the countries by the currents of trade and the play of economic forces, with the general result that the distribution tends to be in accordance with the economic development of the countries and their ability to use it or command it. Inasmuch as the accumulated stock of monetary gold is very large in comparison with the annual additions, the total avail- able supply changes but little from year to year, and it may be assumed that price-changes that are properly chargeable to gold will take place gradually rather than suddenly.

Jan 1, 1930

These proceedings consist of papers presented at Bureau of Mines Technology Transfer Seminars in August 1983 for the purpose of disseminating recent advances in mining technology in the area of large mobile surface mining equipment safety and health. The Bureau of Mines conducts several of these seminars each year in order to bring the latest results of Bureau research to the attention of the mining industry as quickly as possible.

Jan 1, 1983

By Richard J. Stoehr

Man has mined in all his time on earth about 3 billion ounces of gold. About one-half of this has been mined in the past 35 years. This gold is roughly in 3 large holdings: one-third held as reserves in Central Banks; one-third held as personal reserves; and one-third is in jewelry or other fabricated products. The world per capita availability of mined gold is increasing and there are many factors and forces shaping gold's future. Currently, gold has a favorable exchange ratio and this is encouraging many new gold-mining developments. Production is increasing and new techniques are surfacing. The use of gold in the financial markets is increasing in some unique ways and gold is again fulfilling its role as a universal money, making gold's future predictable. Currently, man is mining gold at the rate of approximately 44 million ounces annually and is therefore adding to the total supply of gold approximately 1.5% of newly mined gold each year. This current production plays a small role in the pricing mechanisms since a very large part of the 3 billion ounces mined in all of history is available to the market in one form or another.

Jan 1, 1984

By LESTER W. STRAUSS

FOR fifteen months after the other dominions of the British Empire and the entire so-called sterling 11loc loosed the shackles that bound the111 to the gold standard, South Africa, giant among gold-producing nations, remained stubbornly attached to gold at the traditional ratio of 85 shillings in currency to one ounce of gold. But eventually even South Africa had to heed the dictates of trade and the obvious interests of its great gold-mining industry. In December, 1932, South Africa's currency severed its golden bonds. Today the South African pound is 011 a par wit11 the British pound.

Jan 1, 1935

By A. Panteleyev, C. S. Ney, R. J. Cathro, A. Sutherland Brown

The general distribution of metal deposits in the Canadian Cordillera can be related to its tectonic evolution. The Canadian Cordillera is naturally divisible into five longitudinal tectonic belts within which rocks are broadly similar in type, age and history. From west to east they are the Insular, Coast Crystalline, Intermontane, Omineca and Eastern Marginal belts. Seven classes of metal deposits in the Canadian Cordillera are defined and their characteristics described. These classes are skarn, porphyry, massive sulphide, stratiform, magmatic, copper in basic lavas, and vein deposits. Maps showing the distribution of medal and metal-group concentrations serve to illustrate the relations in space and time between mineralization and geologic evolution.

Jan 1, 1971

Another major aluminum company announced intentions to follow other domestic producers recent price actions by raising its unalloyed ingot quotes by 3¢ to 44¢ per pound, effective June 1, 1976. COBALT: All final data for 1975 are included in the table for cobalt on page 23. Demand in March increased significantly for the second month in a row, signaling a recovery from the previous year's relatively low demand levels. Imports of cobalt tripled in March over those of February. This should partially offset reduced sales of cobalt excesses from the National Stockpile. Import projections for the next several months have been lowered because transportation difficulties in Zaire are expected to result in reduced shipments.

Jan 1, 1976

By H. C. Cooke

THE gold mining industry, in Canada as in other countries, has passed through trying times in the past year. The strains and stresses of war have drawn away much of its man-power, both from the labour and the management. The urgent needs of the war machine have greatly curtailed the amounts of steel and explosives that can be allotted to the mines; and the loss, by enemy action, of supplies of such essential things as rubber, bids fair to reduce operations still further, if not cripple them entirely in time. And, as if these difficulties were not enough, war on the psychological front has been declared on the gold mines. Earnest supporters of the war effort, well-meaning theorists, and perhaps others whose intent is less disinterested, have all combined to clamour against the continuance of gold mining. We have been asked, what is the use of taking gold out of one hole in Canada to put it into another in Kentucky. We have been assured that gold will never again have any value, except for filling teeth. We have been repeatedly adjured to look at Germany, how well it has got along without gold. We have been told that it is unthinkable, when this nation is girding her loins for war, that labour and materials should be diverted to this useless effort. Gold miners should be diverted to the base-metal mines, where they can produce something of real value to the war effort; or to war factories; or, in fact, almost anywhere, so long as they are got out of the gold mines. And, what has made the situation even more disturbing, it has seemed as if all this clamour might be convincing governments. In fact, as you all know, the government of the United States did actually take the step of ordering its gold mines to cease operations. Fortunately, however, for Canada, the facts that no large favourable effects resulted from that action, and that, in Canada, gold mining is a much larger part of the national economy than in the United States, have caused our government, so far at least, to avoid this drastic step. In talking about this, however, let me emphasize that I have no more inside information on the subject than any of you. Like Will Rogers, all I know is what I see in the papers.

Jan 1, 1943

By Wendell L. Reich

Percussion drilling dates back to the hand operated star drill and hammer. Eventually steam and compressed air were substituted for muscle power and the mechanical percussion drill was born. From the hand held jack hammers, driving a forged steel bit into the rock, there evolved the jack leg, the rubber tired and crawler mounted drill carrier with automatic feed, increasing power and reducing man?s muscle requirements. Because the reaction of a blow on one end of a piece of steel has to be transmitted to the other end there is a limit to the depth or length of drill steel that can economically be used in out of the hole percussion devices. During the late 1800?s there is evidence that designers were attempting to put the percussion tool at the bottom of the hole, directly on the bit, in order to avoid the long drill steel which absorbed much of the blow, leaving little to be applied to the bit and the rock being drilled.

Jan 1, 1972

By Hazel B. Comstock

[This material survey on magnesium and magnesium compounds is one of a series of Bureau of Mines publications designed to serve the needs of Government and industry for comprehensive, up-to-date information on mineral commodities and activities Magnesium, the world's lightest structural metal has become a most useful material in airborne and space vehicles, automotive equipment, machine tools, and consumer products. Use of magnesium on in basic refractories for iron and steel furnaces has expanded as the production of iron and steel has increased. Progress in converting steel furnaces to the use of oxygen has further increased the use of magnesium and magnesite brick.]

Jan 1, 1963

By Hazel B. Comstock

This materials survey on magnesium and magnesium compounds is one of a series of Bureau of Mines publications designed to serve the needs of Government and industry for comprehensive, up-to-data information on mineral commodities and activities. Magnesium, the world's lightest structural metal, has become a most useful material in airborne and spare vehicles, automotive equipment, machine tools, and consumer products. Use of magnesium ores in basic refractories for iron and steel furnaces has expanded as the production of iron and steel has increased, Progress in converting steel fun cares to the use of oxygen has further increased the use of magnesia and magnesite brick.

Jan 1, 1963

By William R. Hardwick

Present information indicates that a copper deposit can be safely fractured with a nuclear explosive and the copper successfully recovered by the in-situ leaching method. The process is not yet at the stage where it can be presented t ) the mining industry as a technique proven in all its aspects, but it is a method with high success potential. Unknown factors must be evaluated by a full-scale test before the economics or the extent of the use of the method by the mining industry can be predicted. Preliminary calculations indicate that the cost of fracturing a copper deposit nuclear explosives may range from l.8 to 55.2 cents per ton or in some case: less than a cent per pound of recoverable copper. Copper may be recovered at less cost than by conventional methods. Deposits with 4 pounds of recoverable copper may be economic and production from a deposit may begin in less than half the time required for conventional methods.

Jan 1, 1967

Seventy-three of the 90 naturally occurring elements that are found in the earth's crust are metals or metalloids. The quantities of metals used annually in the United States range from about 100 million metric tons (steel) to a few kilograms (osmium). The recovery of metals from discarded products or industrial process wastes, especially those metals that are used in large quantity, are very expensive, or are unusually toxic, is important to the national economy and to the natural environment. From its inception in 1910, the U.S. Bureau of Mines (USBM) has been the Government's prime source of information on metals recycling, as well as a major innovator in recycling technology. Statistical data on scrap generation and processing have been summarized annually for many years in the USBM's Minerals Yearbook. Most of the data for individual metals discussed in this report were extracted from that publication.

Jan 1, 1993

By A. L. Murray

First -aid training as an adjunct to safety is receiving more wide spread recognition in the industries every year . Moreover , the adoption of a program for giving firstaid training to practically all employees at a mine or plant is based upon the experience gained and good results obtained from standard first -aid instruction during the past two decades . In the near future industries that desire to maintain a low accident rate , to decrease compensation costs , to reduce lost time , and to build up an efficient , loyal working force , will recognize that training in first aid is one way of attaining these results with little expenditure of time and effort . Progressive organizations will require every man from the superintendent down to take first - aid training and not , as heretofore , only a small percentage of the working force . When employees learn that first - aid training can be applied not only at their daily tasks but in their homes and on tthhee highways ,, they will welcome the opportunity of learning how to care for injuries and perhaps save lives . In a limited way first - aid instruction was given to miners as early as 1899 . Later , in 1904 , a few of the companies in the Pennsylvania anthracite district inaugurated the distribution of first - aid packets to their employees and instructed them in the use of the contents . It remained , however , for a branch of the United States Government to grasp the real significance of widespread first - aid training as an effective means of saving life and minimizing suffering from the large number of accidents among workers in the mineral industries . The United States , owing to its vast resources , both natural and human , for

Jan 1, 1930

By Joan Weinberg

The economy continued to expand during the third quarter, as real GNP rose at a seasonally adjusted annual rate of 3.8%, up from 2.5% in the second quarter (table 1). Continued job gains (see below), higher incomes, and an increase in installment debt, resulted in a nearly 20% increase in consumer spending on durable goods. Consumer expenditure on nondurables fell slightly, while spending on services continued at a moderate pace. Nonresidential fixed investment climbed nearly 24%, as producers purchased more durable equipment. Residential fixed investment was adversely affected by rising interest rates, which slowed new home construction from January to August, 1987 to a rate 11.2% below a comparable period in 1986. Net exports of goods and services deteriorated slightly, after three consecutive quarters of improvement. The volume of net exports has risen 15% for the year, contributing to economic and employment growth, but large price increases on imports have slowed the improvement in the nominal trade balance. Although U.S. goods have declined in price relative to foreign goods because of the devaluation of the dollar, faster growth in exports is hampered by austerity programs in developing countries, and emphasis in Germany and Japan on curtailing inflation and fiscal deficits.

Jan 1, 1987

The U.S. economy continued to expand during 1986, although at the slowest pace since 1982 when the current business expansion began. Real gross national product (GNP) grew about 2.6%, slightly below 1985 growth but significantly below that of 1984. The continuing expansion was fueled pre-dominantly by rising personal consumption expenditures as well as growing Government purchases of goods and services. Fixed investment, although positive, failed to grow at the rate of the overall economy. The trade deficit, which increased more than 30% over the record 1985 level, continued to depress economic growth despite significant declines in the price of petroleum and the value of the dollar. On a more positive note, domestic employment continued to grow--increasing over 2 million from the 1985 level--and inflation and interest rates declined. The unemployment rate dropped slightly to 7.0%. Of direct importance to the mineral-producing industries, expenditures for consumer and producer durables as well as investment in residential construction each grew faster than the overall economy, but investment in nonresidential structures fell more than 10% from the 1985 level. The level of real capital spending declined about 3% in 1986, following strong gains in 1985 and in 1984. Capital expenditures for new plant and equipment bottomed out in the second quarter and expanded in the third and fourth quarters. The decline in the first half of the year was partially attributed to uncertainty arising from the then-proposed tax bill. Also, there was little impetus for corporations to invest in new capacity since factories were operating at less than 80% of capacity during most of the year, in part because of continued competition from imports.

Jan 1, 1986

By J. Budac, R. Krentz, P. Cordingley, G. Freeman, M. E. Chalkley, H. Scheie

Pressure hydrometallurgical unit operations have been in commercial use at the Fort Saskatchewan refinery of Sherritt International Corporation for fifty years. This paper traces the history of Sherritt from its origins in northern Manitoba, and the development of the first hydrometallurgical nickel-cobalt refinery in 1954, utilizing pressure hydrometallurgy, to the modern day refinery. Sherritt's involvement with pressure hydrometallurgy during the past 50 years has included the operation of the refinery, the development and licensing of technology, incorporating pressure hydrometallurgical unit operations, to more than 30 companies worldwide, the joint venture at Moa, Cuba involving both leaching and precipitation at elevated temperature and pressure, and the production of specialty metal powders. Developments in each of these areas are reviewed.

Jan 1, 2004

Several primary ingot producers have introduced price changes for July. Howmet Aluminum Corp., Revere Copper and Brass, Inc. and the Anaconda Co, will increase late-July prices of 99.5 percent unalloyed aluminum ingot by 3 cents to 56 cents per pound, Prior to this, Kaiser Aluminum and Chemical Corp. had advanced June ingot values by 4 cents to 57 cents and Consolidated Aluminum Corp., 4.5 cents to 57.5 cents. Domestic merchants held June quotes at a range nearing 50-50.8 cents per pound. ANTIMONY Although NL Industries, since April of this year, stopped publishing prices for RMM and Lone Star antimony grade, values of domestically-refined antimony in alloy are being made available to industry, The current price of this material is $1.75 per pound of antimony contained in alloy, New York dealer-marketed metal was available in June at $1 -13-$1 .20 per pound. Important industrial uses of antimony are for flame retardants, storage batteries, chemicals, pigments, rubber, plastics, glass, ceramics and machinery.

Jan 1, 1978

The mineral Industry, following the economy as a whole, experienced little growth in 1992. However, with modernized plants, efficient workforces, and lower operating costs, the industry is well positioned to take advantage of possible improvement in the national economy during 1993. In addition to the significant 1992 events highlighted below, important events, trends, and issues within individual mineral industries are addressed in the commodity sections that follow. The value of processed materials of mineral origin is estimated to have been about $310 billion in 1992. The value of U.S. raw nonfuel minerals production in 1992 is estimated at approximately $32 billion, a 3% increase over 1991. The value of domestic minerals production has increased in all but 4 of the last 32 years.

Jan 1, 1993