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Large GDP increases in the Pacific Rim countries have been accompanied by similarly large increases in demand for oil products. In the case of residual fuels, this demand has been tempered by the substitution of other energy products such as coal or gas.In the region's developing and newly industrialised nations, it has not been possible to make the very large investements in infrastructure which allow other energy sources to be used for transportation. As a result, GDP growth has been mirrored in the demand growth for automotive fuels. Other non-sustitutable products such as lubricants have also benefitted by the region's GDP growth.The combination of a number of years of sustained growth, coupled with increasing quality requirements is now stretching the upgrading capacity of the region's refineries. If, as seems likely, the region continues to enjoy a high GDP growth rate, then this will be accompanied by increasing reliance on finished products coming out of the Middle East. The owners of the most simple form of refinery in which crude is simply distilled and the naphtha reformed into petrol will face major capital investments. If they decide not to bear this cost, they will face increasing problems in selling their surplus residual fuel oil at an economic price. Quality will become an increasingly important issue. Not only in the well publicised areas such as unleaded petrol, but also for products such as lubricants which play a major role in the efficiency of modem equipment. Quality of service such as hours of opening, ease of access, and service station facilities will also become increasingly important as the oil companies use these to attract customers and gain brand differentiation.

Jan 1, 1990

Traditionally, the development of a mineral resource project goes through a fairly set pattern of decisions from what commodities to search for; where to look; how to locate; what are the reserves; how can they be exploited with optimum returns for all stakeholders; where are the markets and what will be the price received; what financing arrangments? However, due to the unique nature of most mineral resource properties, the relative significance of individual parameters on the ultimate development decision will vary from project to project. Sensitivity analysis in its formal sense is most frequently related to the economic analysis of a project particularly in conjunction with the ultimate development decision making process, and acknowledges the uncertainty of the actual values with their impact on the corporate decision making yardsticks. In many cases, this analysis merely adds more values to confuse the decision makers who may well opt for some subjective rationale to overcome the numeric confusion. However, sensitivity analysis should be used more frequently to exploit the development dollar to its maximum, THROUGHOUT the phases leading to the development decision. It is essential to identify the critical inputs to the various decision tiers in a project as early as possible and direct the funds to ensure that these parameters are determined as accurately as possible. Examples are used to illustrate the need for an even-handed quantification of the parameters which affect the outcome of decisions en route to the final one while minimising the risk in making an optimum assessment in relation to development funds Available.

Jan 1, 1983

By R. D. Nelson, S. D. Dahlgren

The conditions of temperature, strain rate, and total strain favoring deformation by grain boundary sliding, slip, or deformation with concurrent recrystallization were evaluated for alpha plutonium. Grain boundary sliding and slip were studied by examining structures formed on polished surfaces with 4.5 pct compressive deformation. The conditions required for recrystallization were determined from compressive deformation us time curves. At 110" C and at a strain rate of 10&apos;per min, deformation was almost exclusively by grain boundary sliding whereas slip was the predominant deformation mode at -10°C and lo-&apos; per min. Defarmation at intermediate tenzperatures and strain rates produced structures showing mixtures of grain boundary sliding and slip. Recrystallization occurred concurrently with deformation only after a critical strain was reached. About 14, 6, and 3 pct strain was required at 105", llO°, and lZO°C, respectively, before recrystallization started, irrespective of the strain rate in the range of lo-&apos;1 to 10&apos;4 per nzin. L HE temperature and strain-rate dependency of the modes of plastic deformation were evaluated for high-purity as-cast alpha plutonium. The techniques used to study slip and grain boundary sliding were similar to those employed previously for alpha plutonium by Bronisz and Gorum,&apos; and spriet.&apos; Recrystallization was investigated using the methods reported by Nelson.3 Bronisz and Gorum&apos; found that slip occurred on more than one slip system at room temperature, and suggested that grain boundary sliding also contributed to the deformation. spriet2 found that deformation was predominantly by slip at room temperature, and observed one to three orientations of slip traces in individual grains. In addition, he deformed polished samples at 10O° C, but concluded that the deformation character of alpha plutonium at 100° C and at room temperature were not essentially different. Several investigators reported that twinning was only occasionally observed.1&apos;2&apos;4 Nelson3 recently found in creep tests that high-purity alpha plutonium would recrystallize concurrently with compressive deformation at temperatures between 25" and 115°C. EXPERIMENTAL PROCEDURE Electrorefined plutonium having less than 300 ppm total impurities was received from Los Alamos Scientific Laboratory in the form of +-in. diarn cast rods. Major impurities were americium, <I00 ppm, and tungsten, (60 ppm. Less than 25 ppm each of other impurities were present. The rods were cut into right half-cylinders 0.35 in. long and 0.25 in. in diam, and the flat faces along the cylinder axes were metal-lographically polished. To avoid loss of the metallo-graphic polish by oxidation, the polished samples were deformed in a silicone fluid heat treating medium contained in a chamber evacuated to a pressure of lo-&apos; torr. Deadweight loading was used to compress the samples between 4.5 and 20 pct at strain rates between 10"4 and lo- &apos; min-&apos;. Strain rates were determined by dividing the total deformation by the elapsed time of the test, even though the strain rate was not constant during deformation. Curves of strain vs time for samples deformed with a constant compressive stress3 show that the strain rate changes by less than a factor of four during the testing of a given sample, which is small compared to the three orders of magnitude change in strain rate investigated. Two samples were loaded into an ordinary metallographic mounting mold and impacted by striking the mold piston with one blow of a 2-lb hammer. Deformation temperatures for the two impact samples were 25" and 90°C. The samples, following deformation, were washed in carbon tetrachloride and their polished and deformed surfaces were immediately inspected metallographi-cally. Subsequently, the deformation structures were replicated with acetate replicating tape for later electron microscope examination, and the samples were then repolished and etched to reveal the microstruc-tures of the deformed metal. Second-stage carbon replicas were prepared from decontaminated acetate replicas using the procedure developed by Miller, Bierlein, and astel.&apos; Additional samples, which were 0.35 in. long by 0.25 in. in diam, were used to obtain constant load deformation vs time curves. These samples were deformed 10 to 20 pct with loads of 15 and 20,000 psi at 120°C; 30, 45, and 55,000 psi at 110°C; and 20 and 30,000 psi at 105°C. Samples were polished and etched to determine whether or not recrystallization or twinning had occurred during deformation. RESULTS AND DISCUSSION The experiments showed that alpha plutonium deforms by grain boundary sliding, slip, and deformation with concurrent recrystallization. Deformation by twinning was insignificant. Metallographic examination of polished and deformed surfaces revealed grain boundary sliding and slip. The start of recrystallization was ascertained from constant load deformation vs time curves. Deformed surface structures of samples compressed 4.5 pct under four different conditions of temperature and strain rate, Fig. 1, show how the deformation mode changes from predominantly grain boundary sliding to predominantly slip with increasing strain rate and decreasing temperature. Deformation at 110°C and 10" 4 min-&apos;, Fig. l(a), was predominantly by grain boundary sliding. Only a few slip traces can be seen in Fig. l(a).

Jan 1, 1969

By V Glenn, P McKenna, H Vickers, P Audet, M J. Gillespie, A Gravina, D R. Mulligan

A requisite corollary of mineral sand mining on North Stradbroake Island (Queensland (Qld), Australia) has been the progressive rehabilitation of post-mined lands for the revegetation of native subtropical Eucalypt communities. Since 2005, rigorous environmental monitoring has been undertaken to verify the annual development of post-rehabilitated sites. From these long-term analyses, a chronosequence of land revegetation (ranging from three to 26 years postrehabilitation) was developed to examine the rehabilitation trajectories of various post-mined sites in relation to proximal undisturbed locations. Here, we identified that some sites may be deviating from the intended natural analogues as evidenced by the opportunistic colonisationand otherwise æinvasiveÆ behaviour of a regionally native species (Black Sheoak - Allocasuarina littoralis), which appear to be displacing the intended Eucalypt varieties. Although it is recognised that the broader data trends correspond to distinct periods of adaptive modifications to the implementation of rehabilitation (ie pre- and post-1995), this analysis focuses on further identifying potential above- and belowground feedback mechanisms underlying these divergent ecological outcomes.CITATION:Audet, P, Gravina, A, Glenn, V, McKenna, P, Vickers, H, Gillespie, M J and Mulligan, D R, 2012. Above/belowground feedback may facilitate and sustain mono-dominance on rehabilitated North Stradbroke Island, in Proceedings Life-of-Mine 2012 , pp 15-24 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

By Emilie Williams

Introduction Mouska Mine, Doyon Division site Background and timeline Obstacles to standard paste delivery system Components of Mouska paste system Technical considerations Operational considerations Mouska Mine Underground gold mine 30 km east of Rouyn-Noranda, Quebec Part of Doyon Division, 100% owned by IAMGold Commercial production since 1991 Cumulative production over 850,000 oz Conventional mining until 2009 485 m shaft from surface 560 m internal shaft 500 tpd (ore and waste) Off-site milling Approximately 150 employees

Oct 1, 2010

By Stephan A. Jefferis, Adrian H. Bath

"This paper draws together some themes on the durability of barrier systems, and particularly cementitious systems. For contaminated land and water retaining structures, durability can be poorly addressed at all stages of a project, from specification, to barrier material selection, barrier design including toe-in and through to performance assessment in operation. Permeability (hydraulic conductivity) is a dynamic property which will vary over time as reaction processes propagate through a barrier. However, laboratory testing, when undertaken, tends to be focused on short term tests with aggressive chemicals so that the effects of longer-term processes such as carbonation and leaching by permeating water are missed. For water retaining structures, carbonation and leaching actually may be the most significant processes affecting barrier performance as the groundwater adjacent to many water bodies can be otherwise rather benign (as regards bentonite and cementitious systems). These and other reaction processes have been modelled in the arena of nuclear waste repositories and procedures are well recognised. However, such procedures have yet to be widely adopted for the assessment of other barrier systems.INTRODUCTIONOver the last few decades there has been an enormous amount of laboratory research on the durability of barrier materials or more specifically papers reporting the results of permeability tests. Unfortunately there is a much smaller literature on scaling test results to barrier dimensions in the field or to required design lives. Although in the geotechnical industry durability research has been largely laboratory based, in the nuclear industry where relevant timescales are multi-millennia rather than decades, research has been heavily underpinned by geochemical modelling. A significant purpose of this paper is to examine the tools that may be used to analyse the results of tests on barrier materials used in geotechnical engineering, for example, for water retaining structures and contaminated land and draw the attention of the construction industry to the potential of the modelling procedures developed for nuclear repository assessments. Modelling can help to identify underlying processes and so augment information from laboratory testing focused on changes of physical properties such as permeability and strength."

Jan 1, 2016

By S. M. Smouse

Total world energy consumption is projected to continue its strong growth of recent years. Because coal is the most abundant fossil fuel, it will likely remain an important energy source, particularly for power generation, into at least the early years of the next millennium. Clean coal technologies are available today that can economically reduce air pollution, primarily SO2 NOx and particulates, and for the higher efficiency technologies, CO2, from power generation. U.S. Department of Energy analyses show that the adoption of clean coal technologies could decrease carbon emissions worldwide while creating a strong export market with attendant creation of jobs in the U.S.

Jan 1, 1998

By Jorge Rojas E

El presente trabajo describe el proceso de segregación en seco utilizado como método factible en cualquier tipo de mena oxidada de cobre como en metales preciosos. La segregación es un método de separación o migración del cobre de la mena a otro lugar. Las especies minerales contenidas en las menas a ser tratadas por segregación en seco son: atacamitas, azuritas, malaquitas, brochantitas, cupritas, crisocolas, dioptas vidrios verdes. Tanto la menas con ganga básica como ácida son suceptibles a ser tratadas por segregación en seco y en las mismas condiciones química y física con una excepción de la variación en porcentaje de sal. Una vez tratadas las menas se convierten en óxidos y sulfo-óxidos que se encuentran en zonas superficiales donde los costos de explotación y transporte son más económicos, así como el mineral oxidado conserva su estado por mucho tiempo. En este sentido, con el proceso de segregación en seco se obtiene en el peor de los casos recuperaciones de 85%, y en las mejores condiciones, 94% aproximadamente.

Aug 20, 1965

By Fernando Hernández Polanco

Transportation and handling metals and alloys from mills to consumption factories as well as dosing in conventional processes with ingots and scrap has always been considered a complicated activity with high operating costs. Several manufacturers of ferroalloys willing to solve these problems have chosen an alternative for their products that can be used to secure, during transport and dosage in the processes to making special steels, with more efficient consumption of ferroalloys. The trend for the production and sale of ferroalloys is to provide the product in the form of granules packed in bags or in bulk. In this paper we will show you how the granulation process was developed and rapidly adopted the ferroalloys industry as an effective solution to reduce operating costs, create cleaner and safer working environments.

Oct 30, 2017

By Earl M. Frizzell

This paper addresses considerations for the use of artificial support of pit walls in surface mines, a new project of the Bureau of Mines. Results to date indicate that a polymer-coated cable with embedded grit could provide good anchorage for stabilizing benches and highwalls, and an electronic method of recording discontinuities in the field is being reviewed and developed for application to mining. The objectives of the work in progress are to define the engineering parameters and evaluate the concepts for artificial supports in order to provide safe working environments when pit slopes are steepened to increase ore recovery and reduce overburden handling.

Jan 1, 1986

By B. C. Allen, R. I. Jaffee, D. J. Maykuth

Wrought unalloyed iodide chromium, containing 39 to 95 ppm total interstitials, has a tensile transition temperature of —15°C. Re crystallizing at 1100°C causes the transition to rise to 90° to 390°C, depending on the purity, grain size, and cooling rate after annealing. At about the 100 ppm level, individual additions of carbon or nitrogen raise the transition of both wrought and recrystallized chromium by as much as 210°C, while oxygen has a lesser effect, and sulfur essentially no effect. High transitzon temperatures are exhibited by recrystallized and quenched chromium, and appear to be associated with the amount and distribution of inter-stitials. The latter cm be either in solid solution or in the form of precipitates within the grains or at the grain boundaries. Quench hardening in chromium is primarily caused by nitrogen. The hardness, re crystallization, and grain growth behavior of chromium with and without impurity additions were also investigated. BECAUSE of low density and good oxidation resistance, chromium-base alloys are potentially useful for elevated-temperature applications. The main deterrent to the use of chromium in structural applications is its lack of low-temperature ductility, especially in the recrystallized condition. Accumulated evidence has shown that the ductility of chromium is sensitive to purity. The objective of the current study was to determine the effect of common nonmetallic impurities on the tensile properties of high purity chromium. The separate effects of carbon, oxygen, nitrogen, and sulfur additions on the ductile-to-brittle transition were evaluated for wrought and recrystallized material after various cooling rates. EXPERIMENTAL WORK Unalloyed iodide chromium and seven impurity alloys containing individual carbon, oxygen, nitrogen, or sulfur additions were prepared in rod form. Nominal additions were 100 ppm C, N, and S, and 100 to 500 ppm O. The additions were about a factor of ten greater than the residual amounts in the unalloyed material. The seven alloys and two unalloyed compositions were consolidated into four-pound ingots by conventional consumable arc melting of pressed and welded electrodes under 0.5 atm of helium. Impurity additions were made to the electrode in the form of crushed master alloys. The impurity alloys were double melted to improve homogeneity. The ingots were broken down by extrusion at 1200°C in evacuated steel cans at a reduction ratio of 18 :1, using a molten borosilicate glass lubricant and a ram speed of 80 in. per min. The cans were removed by acid pickling, and the chromium core ground free of surface undulations. Cut lengths were sheathed in mild steel and swaged at 900°C until the core was about 1/4 in. in diam. Two additional 15-lb ingots of unalloyed chromium (ICr-3, ICr-4) were prepared by arc melting and broken down by 26:1 extrusion at 1250°C without a steel can. The billet was lubricated and protected from contamination by a coating of molten glass. The resulting extrusion was then sheath swaged as described previously. Representative chemical analyses of each of the materials, after removal of a 10-mil surface layer

Jan 1, 1963

By R. R. Sacrison

The Barrick Mercur Gold Mine lies in the Oquirrh Mountains of northern Utah. Limestone, sandstone, shale, and chert are the predominant rock types being mined. Recent expansion has encountered rhyolite. Lithology and structural attitudes control most mechanical behavior. Slope steepening, mine planning, and site selection are presented as means by which geological engineering has contributed to the economics of the operation. Geomechanics investments of approximately $700,000 have resulted in cost savings or additional production worth over $16,000,000.

Jan 1, 1990

By A Scott, S Kanchibotla, J Segui

The æMine to MillÆ concept is not new. In fact, it is the underlying objective of every mine. Unfortunately, in many operations the management structure and reporting systems have created independent æbusinessesÆ within the overall mining enterprise. This has created incentives to optimise the performance of each component of the operation rather than the enterprise as a whole. The Mine to Mill Conference organised by The AusIMM in October 1998 documented a number of case studies where run of mine ore was not presented to the mill in the best possible form for subsequent stages of comminution and processing. A number of examples were quoted where modest expenditure in the mine had a very significant impact on downstream process efficiency and hence costs. Examples included:the minimisation of fines in the mining and handling of iron ore; the management of fines in blasting and crushing for a copper heap leach operation; the control of blast damage, mining recovery and dilution in open cut coal operations; and the optimisation of mine fragmentation to increase mill throughput in gold and copper operations. The latter topic has been trialed at a number of mines and is referred to as æMine to MillÆ fragmentation. A number of æMine to MillÆ type investigations have been reported in the literature including Pease et al, Simkus and Dance, Nielsen, Scott et al, Kojovic et al, Kanchibotla et al, Bulow et al and Hawkes from the 1998 Mine to Mill Conference. In addition, a number of studies are in progress or the results have yet to be published. These studies have demonstrated the feasibility of obtaining the data required to characterise the breakage behaviour of ores and to model the impact of changes to blasting practices on process efficiency. Characterising the breakage behaviour of ores is a vital step in the management of fragmentation and comminution in mines. The characteristics of importance to fragmentation fall outside the parameters conventionally required to describe the economic geology of a deposit. æMine to MillÆ optimisation of fragmentation means that the mining engineer needs information from the geologist in order to be able to help the metallurgist. Providing this information requires close interaction between these groups.

Jan 1, 2000

By A. G. Doll

The Bond low energy impact (crushing) work index test is specified to be performed on rock specimens between 50 mm and 75 mm in effective diameter. NQ-diameter drill core, frequently used in mineral exploration programs does not meet that specification, it being 45 mm diameter or less. This paper reports the effect of performing the impact test on contiguous sections of HQ diameter and NQ diameter core, exploring the hypothesis that the contiguous intervals give equivalent results in spite of the core diameter difference.

Jan 1, 2012

By Lawrence S. O’Rourke

Pricing for tantalum raw materials experienced explosive increases in the period 1978-1979, and-similar declines over 1980-1982. The causes for this are examined. Negative effects on the industry are highlighted. Analysis is provided of subsequent structural changes within the industry which minimize probability of future pricing excursions. Data on markets, sources of material, and outlines of concentration and extractive processes are reviewed. The conclusion is reached that expanded sources, future flat demand, and a broader international base of industry participants are principal forces in this restructure. Flat demand is reviewed as a function of increasing application of tantalum, but in more cost effective forms. This is driven by technical advance, notably in electronics applications.

Jan 1, 1986

By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definite life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital write-offs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral property possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulfur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. Present Value of a Mineral Property In essence the present value of a mineral property is a sum of money in today&apos;s dollars that future income from the property are worth. It differs from the total anticipated earnings by the amount of the interest that the unrecouped investment could be expected to earn during the period of recoupment. Thus, if one could accurately estimate what a mineral property will earn during its life, after deducting all operating, administrative, capital, interest, and tax charges, the determination of present value would be a relatively simple mathematical calculation. Normally, where the expected life of the mineral property extends beyond 20 or 25 years, the discounted value of earnings beyond this period is relatively small. The petroleum industry generally discounts the annual cash flow of an operation rather than earnings since, for tax-saving purposes, earnings are kept

Jan 1, 1976

By Todd Burchett

Mining engineers spend countless hours and resources when designing a new underground coal mine. Their primary objective is to design the safest and most efficient operating mine with regards to coal production. A key variable often overlooked in this design stage is the slope conveyor. Typically, a slope conveyor is expected to operate with a 98-percent or higher availability. However, too often little effort is put forth by the mining engineer to optimize its design. Coal companies will rely on engineering, procurement, construction and management (EPCM) companies for the preliminary design, because the slope conveyor will be considered part of the surface material handling processes. This preliminary design will be used when soliciting quotations for the slope conveyor. Unfortunately, EPCMs may not have enough expertise with conveyors to optimize the design. This expertise is available with an original equipment manufacture (OEM) of conveyors, which ultimately may be responsible for supplying the slope conveyor. Each OEM will provide a bid package that represents what it considers to be the optimal design.

Jan 1, 2013

By C. Gerow

THIS paper is entitled "Some" problems, rather than "The" problems, met in selling coal, since the problems to be met in selling any commodity have to deal with an infinite number of circumstances and conditions. These are believed to be more varied in the case of coal than probably any other commodity. This is due, perhaps, to the fact that coal has been one of the basic materials in the guiding of industrial and national achievement for the past two hundred years. During this time its use has developed from a most haphazard one to uses involving all modern scientific methods, which, rather than simplifying matters as regards the marketing of coal, have added many fresh problems, and these vary according to the particular market served. Since the concern of this paper is primarily the selling of Nova Scotia coal, it is proposed to deal chiefly with some of the specific conditions met in the markets presently served by this coal. For the purpose of discussion, these markets may be considered as divided into three main groups, namely, the Maritime market, the Quebec market, and the Ontario market. THE MARITIME MARKET First of all, let us consider the Maritime market. This is a market which has been regularly served by Nova Scotia coal since coal mining became the first industry in Cape Breton, slightly over one hundred years ago. Conditions as applying to the use of coal have naturally tended to adjust themselves to the characteristics of the coal most readily available, and, therefore, marketing problems are fewer in the Maritimes than in districts where many coals of varied characteristics are offered. Up to recent years, the problems involved were chiefly those of providing satisfactory service insofar as de-liveries were concerned. However, with the speeding-up of manufacturing processes and the necessity of reducing costs to a minimum, users of coal have become interested in obtaining coal that will give the most economical service. It is, therefore, now of importance that the salesman should have full knowledge of the particular conditions applicable to each customer&apos;s use in order to deal to the best advantage.

Jan 1, 1936

By W. J. Wuest

The U.S. Bureau of Mines (USBM) has recently developed a rock mass classification system for evaluating the structural competency of bedded roof strata; the Coal Mine Roof Rating, or CMRR. When compiled with the companion Lotus 1-2-3 spreadsheet, which is simple to learn and use, CMRR data are a useful tool with applications to longwall gate road pillar design, safety hazard mapping, and artificial roof support analysis. This paper demonstrates these applications under actual conditions found in current U.S. mining operations.

Jan 1, 1995

By Mark E. Emerson

Foreign and domestic companies find the mineral potential of this country&apos;s stern public lands, its capital markets, political stability, and "open-door" policy attractive for hard mineral exploration. Traditionally, exploration in the US has been geographically based and responsibility oriented at the district level. The 1970s brought a decentralized approach to exploration as major non-metal companies began to diversify into hard minerals. The emphasis was on capital intensive metal and energy projects involving bulk-tonnages. The recent economic downturn in metals has caused many of the new participants to withdraw from the mineral scene. The surviving companies have shifted their emphasis toward medium scale precious metal projects having high operating margins and rapid return on equity. Exploration expenditures in the United States are now principally focused on gold and silver to the exclusion of practically all other commodities. In the search for precious metals companies have scaled back their exploration efforts and have began to apply new approaches to target selection. The search is being assisted by rapidly evolving conceptual models. The change in orientation has led to numerous new discoveries. The finds are essentially "rediscoveries" that c,-re previously uneconomic. The majority are low-grade surface deposits that have involved low discovery costs and short lead times for development by low-cost mining and beneficiation methods. The emphasis on gold to the exclusion of all other commodities raises questions regarding the direction of exploration in the US for the rest of the 80s.

Jan 1, 1984