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By John D. Watson

The results of extensive field tests of a new and powerful method of hard rock excavation are presented in this report.* The method, known by the acronym REAM (Rapid Excavation and Mining), employs high velocity, smooth bore cannons to efficiently deliver energy to the rock and has been demonstrated for underground tunneling, drilling, surface benching, scaling, and secondary breakage in hard granitic rock at the Hope Valley Mine test site in California. Solid projectiles made from inexpensive materials such as concrete or steel, and weighing from 8 to 12 pounds, are launched by conventional high speed cannons and impact the rock at velocities of 5000 feet per second--an impact energy of about 4 million foot pounds (Figure 1). The energy applied at peak pressures of nearly 2 million psi over a period of tens of microseconds breaks down the rock by a complex mechanism of crushing, spalling, and initiation and propagation of fractures produced by the interaction of successive impacts and free surfaces. The main objective of the tests during 1973 was a demonstration of controllability of the underground operation of a silenced cannon. To accomplish this objective a 90-mm cannon

Jan 1, 1974

By Zhucheng Huang, Zhikai Liang, Ronghai ZHONG, Lingyun Yi

In this work, research of reduction process was studied by means of rotary kiln (u1.5 m /C215 m) process anatomy in order to provide fine guidance to large-scale operation. It was shown that the average reduction degree of 89.96% and metallization ratio of 85.15% were obtained at the highest temperature of 977°C and total residence time of 90 min. The generation amount of metallic iron in section of temperature higher than 900°C and lower than 900°C was 34.15 and 56.38%, respectively. The section of lower temperature of 830–900 °C played an important role in formation of metallic iron, making it possible for mini-pellet to reduce quickly at lower temperature. Two main tasks were completed for mini-pellets in rotary kiln: the reduction of iron oxides in the range of 15.0–4.5 m as well as migration and bene ficiation of metallic iron, facilitating the subsequent separation of iron and gangue minerals.

Mar 1, 2018

By Thomas T., Read

IT will be recalled that when educational instruction for the mineral industry began at Freiberg, at the beginning of the eighteenth century, the original aim was to organize and systematize the procedures previously followed by young men in gaining -familiarity with the technology then in use. There must have been many other ideas current, even then, as to just what a young man needed to learn in order to become capable of assuming 'responsibility for the supervision and direction of such technical work. The problem in Europe was decidedly different .from that in nineteenth-century America, because some of the European mines were actually owned and operated by the governing authority and the others were supervised, regulated, and taxed by it. The American problem was the e5cient performance of technical operations; the European one was regulatory supervision. It was natural, therefore, that in the development of educational processes in Europe stress was laid on those factors which conserved and protected the interests of the state. The study of mineralogy and geology, leading to correct judgments as to the workability and value of mineral deposits; assaying, which gave the means of quantitative measurements, as did surveying; chemistry, which furnished a better basis of understanding for assaying, mineralogy, and geology; and physics and mathematics, which are the bases for the understanding and efficient use of mechanical appliances, became the core of systematic instruction, for the mineral industry. It was early recognized that men could learn more than was already known about all of these subjects and education took on that dichotomy which still characterizes it; the teaching of established knowledge to the unlearned, and that of extending of the bounds of knowledge, now loosely termed research, which after two and a half centuries of work still shows

Jan 1, 1941

By A. G. Roach

Introduction This paper deals with the operations and plant of the Craigmont Corundum Project, formerly of Wartime Metals Corporation but now under the Mines Section of the Resources Development Branch of the Department of Reconstruction and Supply. Corundum is recovered by the re-treatment of an old tailing deposit at Craigmont, Ontario. Crude concentrates so produced are shipped to the plant of the American Abrasives Company, Inc., at Westfield, Mass., for final processing and distribution to the abrasive industry. The plant was recently described in a paper entitled Craigmont Corundum which was presented by the writer before the Chicago meeting of the A.I .M.E. in February, 1946. General The Project is located on? lots 4 and 5, concession XVIII, township of Raglan, Renfrew county, Ontario, near the village of Combermere, which is on Highway 62. The property is about 135 miles from Ottawa. The general area enjoys a pleasant climate with moderate summer temperatures, though the winters are rather severe, the mercury frequently falling to - 35 deg. F. The excellent boating, fishing, and hunting have made the district a favourite resort for tourists. Lumbering is the main industry. Some farming is carried on, but the soil is poor and much of the land is hilly and rocky. There are no other operating mines in the immediate vicinity, though several 'industrial minerals', including mica, feldspar, nepheline, beryl, socialite, and others have been produced in the area. The district is drained by the York and Madawaska rivers and is generously dotted with large and small lakes. The general elevation is about 1,000 feet above sea level, though numerous hills rising several hundred feet give a rolling appearance to the landscape.

Jan 1, 1946

By T. Gupta, T. Ghosh

"In recent years, the demand for Rare Earth Elements (REE) have grown rapidly due to increasing demand and global supply shortage. The supply deficit of these critical elements has encouraged the search for new sources of REEs, possibly Coal and Coal byproducts. Coals from certain parts of the world can be rich in REEs, and can approach a total concentration of 1000 ppm. Two Alaskan coal samples were investigated for the effect of size and density on the concentration of REEs on three selected size fractions. Flotation tests were conducted for finer fractions. Additionally Bottom ash and Fly Ash samples from a power plant have been examined for REE concentration. The results show that the upgrade potential for REEs on ash basis from whole coal basis ranges from 2:1 to 4:1 for Wishbone Hill and Healy coal samples respectively. Flotation of the finer fraction for both coal samples, conducted under similar conditions, reveal higher concentration of REE’s in the tailings. Both coal samples have a comparatively higher LREE content than HREE. Trends of REE content of the power plant products on ash basis revealed that Fly Ash has a slightly higher concentration of both LREE and HREE than Bottom Ash. Keywords: Rare Earth Elements, Coal, Coal Ash INTRODUCTION Rare Earth Elements (REEs) and their compounds are vital components in industrial, automotive, petrochemical, defense and medical applications. Dysprosium in combination with other elements is used in laser materials and nuclear control applications. Neodymium is present in magnets that are used in green power generation such as the manufacture of wind turbines and also in hybrid cars. Europium, Terbium and Yttrium are used for devices that have visual displays such as computer screens and laptops [1, 2]. REEs pose fewer environmental problems of disposal and recycling than conventional heavy metal counterparts [1]. Rare-earth metals are key ingredients for radar systems, avionics, modern national defense and satellites [2-8]. In the last 25 years China has been mining, processing and refining Rare Earth elements at affordable prices thus gaining a virtual monopoly in the market. The many fold rise of the prices of REE elements over the last few years and frequent disruptions in supply has forced various nations to invest in indigenous extraction of REEs by increasing production from previously productive sites and to expand the production from new alternate sources including coal and coal byproducts [9]. Coal and Coal beds have been found to be significantly enriched with certain critical metals and can be a potential source for both Light Rare Earth Elements (LREE) and Heavy Rare Earth Elements (HREE) [10]. Moreover, coals with high REE concentrations have been discovered in Pavlovka and Rakovka coal deposits in Russia, Appalachian deposits in USA, Sichuan Basin deposits in China and others across the globe [10-13]. A recent study from China looked at how different trace elements (including numerous REEs) partition in various size fractions of Antaibao coal from China. The finding indicates that the REEs, phosphorous, and thorium all have their high concentrations in the particle sizes 0.5 to 3 mm, and 6 to 25 mm. REEs are also often present in the form of phosphates such as monazite in coal [13, 14]. The objective of the study is to identify the concentration of REEs in Alaskan coals and to investigate the effect of density and size in the distribution of REEs in coal and coal byproducts."

Jan 1, 2016

By James T. Wood

Stratigraphy, structure and closure of the Paloma field are discussed, with some details regarding the present state of development. The Paloma anticline, a large dome modified by faults, is the largest single closed dome in the southern San Joaquin valley without surface outcrop or topographic expression. It owes its discovery to geophysics. Of nine wells drilled to the Stevens sand, seven are productive. The ultimate productive area may approximate 3000 acres when the limits of the field are determined. Introduction The Paloma field derives its name from the Paloma school, ½ mile north of what is now the center of the field. The field is 17 miles southwest of Bakers-field, in the south central part of the San Joaquin Valley (Fig. I). The present developed area and its expected extensions are in townships 31 and 32S., R.26E. It is the most southerly of several fields that produce from the Stevens sand zone. The first well to produce condensate was a joint test drilled by the Western Gulf Oil Co. and The Texas Co. near the center of sec. 3, T.32S., R.26E., well No. 54-3. This well was completed on Aug. 31, 1939, at a depth of 10,178 ft. The initial production was 2280 bbl. a day of condensate and 14,750,000 cu. ft. of gas (½-hr. gauge) through a ?-in. bean. Prior to the drilling of this well, the Ohio Oil Co. discovered and developed a small gas field, which embraces a part of three townships about their common corner but lies chiefly in secs. 31 and 32, T.31S., R.26E. The first well was completed on July I, 1934, at a plugged depth of 5239 ft. after having been drilled to 7957 ft, production was found in a 59-ft. zone IIO ft. below the Fourth Mya bed, within the Sari Joaquin clays. Until recently this field was known as the Buena Vista gas field. It is now carried by the Division of Oil and Gas as the Paloma gas field. Production within the Paloma gas field is derived from six wells, producing from several different zones in the interval from 4177 to 5548 feet. Geology Stratigraphy The sediments penetrated by wells in the Paloma held range in age from Recent to Upper Miocene. The entire section, which exceeds 10,000 ft. in thickness, conforms generally to the standard section of the south central San Joaquin Valley. The producing zone, sometimes called the Paloma sand, is the approximate equivalent of the Stevens sand zone of the Ten Section, Canal, Coles Levee and other fields. The stratigraphic section is shown in Table I. Paloma Producing Zone* (Stevens Sand Zone, Upper Miocene) .-The Paloma producing zone (Fig. 2), frequently referred to as the Paloma sand, is encountered at depths ranging from 9950 to 10,300 ft. In general, it is a massive, firm to hard, not too well sorted, fine to medium fine sand. It is interbedded with thin, hard, calcareous sand shells of similar texture and cherty

Jan 1, 1942

By James T. Wood

Stratigraphy, structure and closure of the Paloma field are discussed, with some details regarding the present state of development. The Paloma anticline, a large dome modified by faults, is the largest single closed dome in the southern San Joaquin valley without surface outcrop or topographic expression. It owes its discovery to geophysics. Of nine wells drilled to the Stevens sand, seven are productive. The ultimate productive area may approximate 3000 acres when the limits of the field are determined. Introduction The Paloma field derives its name from the Paloma school, ½ mile north of what is now the center of the field. The field is 17 miles southwest of Bakers-field, in the south central part of the San Joaquin Valley (Fig. I). The present developed area and its expected extensions are in townships 31 and 32S., R.26E. It is the most southerly of several fields that produce from the Stevens sand zone. The first well to produce condensate was a joint test drilled by the Western Gulf Oil Co. and The Texas Co. near the center of sec. 3, T.32S., R.26E., well No. 54-3. This well was completed on Aug. 31, 1939, at a depth of 10,178 ft. The initial production was 2280 bbl. a day of condensate and 14,750,000 cu. ft. of gas (½-hr. gauge) through a ?-in. bean. Prior to the drilling of this well, the Ohio Oil Co. discovered and developed a small gas field, which embraces a part of three townships about their common corner but lies chiefly in secs. 31 and 32, T.31S., R.26E. The first well was completed on July I, 1934, at a plugged depth of 5239 ft. after having been drilled to 7957 ft, production was found in a 59-ft. zone IIO ft. below the Fourth Mya bed, within the Sari Joaquin clays. Until recently this field was known as the Buena Vista gas field. It is now carried by the Division of Oil and Gas as the Paloma gas field. Production within the Paloma gas field is derived from six wells, producing from several different zones in the interval from 4177 to 5548 feet. Geology Stratigraphy The sediments penetrated by wells in the Paloma held range in age from Recent to Upper Miocene. The entire section, which exceeds 10,000 ft. in thickness, conforms generally to the standard section of the south central San Joaquin Valley. The producing zone, sometimes called the Paloma sand, is the approximate equivalent of the Stevens sand zone of the Ten Section, Canal, Coles Levee and other fields. The stratigraphic section is shown in Table I. Paloma Producing Zone* (Stevens Sand Zone, Upper Miocene) .-The Paloma producing zone (Fig. 2), frequently referred to as the Paloma sand, is encountered at depths ranging from 9950 to 10,300 ft. In general, it is a massive, firm to hard, not too well sorted, fine to medium fine sand. It is interbedded with thin, hard, calcareous sand shells of similar texture and cherty

Jan 1, 1942

By A Takahashi, Y Uchisawa, M Hayashi, T Watanabe, M Susa

Owing to the deterioration of iron ore, the Al2O3 concentration in iron ore increases, and thus it is important to investigate the effect of increment in Al2O3 concentration on the microstructures of iron ore sinters. During the sintering process, a melt is present in the sinter for only a few minutes, and therefore the microstructure of the sinter doesn’t reach thermodynamic equilibrium. Nevertheless, the formation process of the microstructures can be interpreted and predicted to some extent from the equilibrium phase diagram. This study investigated the liquidus isotherm in the CaO-SiO2-Fe2O3- 5 mass% Al2O3 system at 1240°C in air and the phase equilibria of silico-ferrite of calcium and aluminium (denoted by SFCA) and SFCA-I by XRD (X-ray diffraction analysis) and electron probe micro analyzer (EPMA). The following results were obtained: 1. The ferrite melt region with a high Fe2O3 concentration shifts to the lower Fe2O3 side than the liquidus isotherm in the CaO-SiO2-Fe2O3 system. 2. The compositional region of SFCA extends in the CaOꞏ3Fe2O3-4CaOꞏ3SiO2 direction than the silico-ferrite of calcium (denoted by SFC) composition region with a 0 mass% Al2O3. 3. SFCA-I is observed in the present system, which suggests that the increment in the Al2O3 concentration contributes to the stability of SFCA-I. These results imply that an increment in Al2O3 concentration in iron ore leads to a decrement in the volume fraction of the bonding phase and that the fraction of the SFCA phase increases, and those of 2CaOꞏSiO2 and slag phases decrease in the bonging phase. The SFCA-I phase is also precipitated from the slag with an Al2O3 concentration around 5 mass%.

Jun 19, 2024

By Katherine A. Klein

Refuge chambers may potentially save the lives of miners during a mine emergency. For this reason, it is crucial that miners know how to operate them. Unfortunately, because refuge chambers provide so many services, they can be very complicated and difficult to operate. Therefore, NIOSH has created this document with suggestions for developing manuals and educational materials. A multidisciplinary team comprised of NIOSH engineers, sociologists, psychologists, health communication professionals, and geologists developed the recommendations contained in this document. These recommendations are based on an evaluation of manufacturers? instruction manuals from both the U.S. and globally, interviews with over 20 mining and safety experts, and an extensive literature review. This research, focused on the best practices for refuge chambers, led to the formulation of this document. It is intended to offer suggestions to manufacturers and mine operators on how to create effective and easy-to-understand training manuals for miners as well as tips to create the most comfortable and usable refuge chambers. It should be noted that these recommendations are not meant to substitute for manufacturer-supplied materials but rather to be used in conjunction with manufacturer?s materials. Manufacturers should always be consulted for up-to-date information about their chamber. Although different states and different mines refer to underground refuges by different names, this guide will simply refer to underground refuges nearest to the face as refuge chambers, whether inflatable from a skid or constructed from steel. Other popular terms for refuge chambers are rescue chambers, rescue shelters, and refuge shelters. Refuges that are nearer to the shaft, whether a prefabricated refuge chamber or one built into a crosscut, will be referred to as outby refuges because of their location in the mine. Outby refuges can be permanent, semipermanent, or portable and are usually located at every other SCSR cache. Outby refuges are sometimes called hardened rooms, outby shelters, and in-place shelters. When discussing outby refuges and refuge chambers collectively, this guide will refer to them as underground refuges. Other terms for underground refuges include refuge alternatives, locations of safety, and safe havens. This document is designed to be read either cover to cover or by specific section. It is recommended that on first read, this guide be read cover to cover. In subsequent readings, manufacturers and mine operators may find it easier to use the table of contents page to locate specific information on parts of the refuge chamber.

Jan 1, 2009

Flooded-bed scrubbers on continuous miners have been shown to be an effective respirable dust control technology, traditionally used during the extraction of extended cuts of up to 12.2 m (40 ft). To effectively use scrubbers in faces that employ exhaust ventilation, the return ventilation curtain or tubing should be located outby the scrubber discharge on the continuous miner, which results in a setback distance from the face of approximately 12.2 m (40 ft). The goal of this research was to compare respirable dust levels generated in 6.1 m (20 ft) cuts when using extended curtain setbacks with a scrubber operating to dust levels in 6.1 m (20 ft) cuts when using traditional exhaust face ventilation without a scrubber operating. Dust surveys were completed at three mines with area and personal sampling conducted to quantify respirable dust concentrations on a cut-by-cut basis. Sampling results did not show a statistically significant difference in respirable dust at the continuous miner or shuttle car locations with and without the scrubber operating. However, with the scrubber operating, respirable dust concentrations in the return airstream downwind of the miner showed reductions of 91%, 86%, and 40% at Mines A, B, and C, respectively. The reductions at Mines A and B were statistically significant. Likewise, reductions in respirable quartz dust levels in the miner return were observed at all three mines, with statistically significant reductions of over 80% observed at Mines A and B. Consequently, operation of the flooded-bed scrubber did not impact respirable dust levels in the face area but did significantly reduce respirable and quartz dust levels downwind of the continuous miner. These results were obtained with the mines operating at or above the minimum operating levels specified in their ventilation plans.

Feb 23, 2014

By D. L. Pitt

This paper, describing the milling methods at the concentrator of the Premier Gold Mining Co., Ltd., Premier, B. C., Canada, is one of a series being prepared by the United States Bureau of Mines on milling methods and costs in the various mining districts throughout the United States and Canada. ACKNOWLEDGMENTS The authors wish to acknowledge the assistance and suggestions given during the preparation of this paper by the engineering staff and accounting department of the Premier Gold Mining Co., Ltd., all of whom have assisted materially in gathering the data used.

Jan 1, 1933

By L. C. Brichta

The Melrose zinc-lead. deposit is in an area of structural disturbance of sedimentary rocks in the Melrose mining district in Cherokee County, Kans., 25 miles west of Joplin, Mo., adjacent to the northwest limits of the Tri-State district. Mining and milling in the Melrose district has been sporadic and. very limited, largely due to the high cost of exploration through great thicknesses of barren rock, 350 to 440 feet overlying the ore deposits. No mining has ever been done on the Melrose zinc-lead tract, but it has been drilled extensively. The drill-hole logy indicate extensive structural deformation, silicification, and zinc-lead deposits in the Boone limestone-chert formations of the Mississippian series, which is overlain by thick-bedded Pennsylvanian shale and sandstone. Analyses of samples from Bureau of Mines drilling indicate the ore minerals are sphalerite and galena with no evident oxidation. During the period from November 2, 1949, to March 13, 1950, the Bureau of Mines investigated the deposit by churn drilling and sampling 23 holes aggregating 10,405 feet of bore. Factual data on the investigation and logs of holes drilled by private parties and the Bureau of Mines are presented in this report.

Jan 1, 1951

By Rodrigo Peroni, Vitor Campos

Carajás is one of the largest open pit mines in the world. The mine is comprised by a haul road network more than 100 km long, where the need for good roads is paramount and determining of the truck performances. This work integrates, regarding the ultimate pit design, an approach to consider an economic value to an originally unfit material, assuming it has the appropriate characteristics for haul road construction, which sometimes lies over economic iron ore. This measure demonstrated an improvement in the utilization of resources and guarantee the necessary material to the haul road design and Mining Pads maintenance.

Jun 25, 2023

On December 16, the General Services Administration (GSA) suspended weekly sales of surplus silver from the national defense stockpile because Congress approved the Defense Appropriation Act, which contained an amendment to halt silver sales. The amendment, introduced by Senator James A. McClure (R., Idaho), prohibits sales for 6 months while the impact of the sales and alternative methods of disposal are evaluated. The GSA sold 2 million troy ounces since sales started October 14. 46.5 million troy ounces were authorized to be sold during this fiscal year and an additional 58.6 million troy ounces were authorized to be sold over the following two fiscal years. The stockpile held 139.5 million troy ounces of silver when sales began in October. Brush Wellman, Inc., a vertically integrated producer of beryllium products announced plans to modify its Delta, Utah beryllium concentrate processing facility to utilize beryllium concentrates containing as little as 7% beryllium oxide. The company plans to invest $2.5 million for this modification with completion expected in mid-1983. Implementation of this plan to consume lower grade beryllium minerals will significantly increase world reserves of beryllium concentrates.

Jan 1, 1981

By Guilherme Vieira Braga Lemos

Uma superliga a base de Níquel, popularmente conhecida como Inconel 625®, foi estudada no presente trabalho. A Soldagem por Fricção e Mistura Mecânica (SFMM) aplicada a liga 625 foi realizada com velocidades de rotação da ferramenta entre 1200 a 200 rpm e velocidade de soldagem entre 1 e 1,5mm/s. O aporte térmico foi calculado como função dos parâmetros de soldagem empregados. Adicionalmente, análises metalográficas e de microdureza foram realizadas na seção transversal das juntas soldadas. A aplicação da soldagem no estado sólido foi efetiva e resultou em maiores valores de microdureza todas as juntas soldadas. Por outro lado, um aumento na velocidade de rotação causou um aumento do aporte térmico.

Aug 17, 2017

By E. V. Cilento, K. A. DiGregorio, R. C. Lantz

"DIGREGORIO, K. A., E. V. CILENTO, AND R. C. LANTZ. A kinetic model of superoxide production from single pulmonary alueolar macrophages. Am. J. Physiol. 256 (Cell Physiol. 25): C405-C412, 1989.-A kinetic model was developed to describe the production of superoxide (02) by single pulmonary alveolar macrophages (PAM). Model predictions were compared with experimental results obtained from single rat PAM. The 02 was quantified by measuring the reduction of nitro blue tetrazolium (NBT) to a diformazan precipitate (NBTH,) from video-recorded images of individual cells. The kinetic model considered three reactions: 1 ) the production of extracellular 02 from the reduction of oxygen by NADPH oxidase using intracellular NADPH as the substrate, 2) the subsequent dismutation of 02 to form H,O,, and 3) the reaction of 02 and NBT to form diformazan. NBT specificity for 02 was analyzed by comparing results in the presence and absence of superoxide dismutase (SOD) that catalyzes the dismutation of 02 to H,O,. Measured PAM heterogeneity was accounted for by varying the concentration of intracellular NADPH, its rate of depletion, and the concentration of intracellular NADPH oxidase in the kinetic model. Model predictions compared favorably with experimental results except when SOD was present. This discrepancy may be due to diffusional limitations because NBT is a relatively small molecule (818 mo! wt) compared with SOD (34,000 mol wt). In addition, the cell surface is both ruffled and negatively charged, which may introduce steric hindrances and/ or electrostatic effects, since SOD is also negatively charged, whereas NBT is positively charged.PULMONARY ALVEOLAR MACROPHAGES (PAM) protect the lungs by phagocytizing foreign debris and bacteria. This process is accompanied by the production of superoxide anion (02) at the surface of the plasma membrane (3, 31). Superoxide readily dismutates to form H20 2 and subsequently, other oxygen metabolites which have been shown to be both antibacterial and cytotoxic (21, 25, 35).Superoxide is produced from the reduction of extracellular O, at the surface of the cell membrane by NADPH oxidase by the following reaction (3, 4)"

Jan 1, 1989

By J. T. Chen, S. Winkler, M. J. Worswick, O. Orlov

This paper presents a review of research conducted at the University of Waterloo concerned with the application of aluminum alloy sheet and tube in automotive structures and body panels. The research has focussed on formability prediction and results using a range of damage-based formulations. These models include continuum-level damage approaches and, more recently, a so-called percolation damage approach intended to capture microstructural heterogeneity effects on damage development. This paper presents applications of these damage approaches to simulate formability of experiments considering stretch flange panels. The experiments consider drawbead effects associated with the bend/unbend deformation as the material flows through the drawbead. Recent work on simulating in situ X-ray tomography experiments that capture damage evolution during tensile deformation will also be reviewed.

Jan 1, 2006

By John Convey

This paper, a follow-up to an earlier study, gives the history of Canadian developments in mineral processing from 1921 to the fall of 1964. It deals extensively with comminution and flotation, and then goes on to cover the fields of gravity concentration, magnetic concentration, cyanidation, the processing of uranium ores, and instrumentation. Several outstanding examples of installations are given. The paper concludes with a discussion of present-day trends in mineral processing. Introduction T HE history of the developments in mineral processing in Canada from its earliest times to 1920 has already been published by one of the authors (1). The present paper is thus a logical follow-up to bring this history to date. From 1834 to 1920, mineral processing in Canada, as elsewhere in the world, was in its formative stage. This, however, prepared the ground for developments that have resulted in a mining empire from the Atlantic to the Pacific, a mining empire which could be said to be almost on par with that in the United States.

Jan 1, 1965

By Lester G. Morrell

THE WORLDWIDE economic expansion that has characterized the first 3 years of the 1960's continued through 1964 and was reflected in North America by strength in the industrial economy of the United States, which again was dominant. Advances in production were recorded in virtually all industries, including the mineral industry; 1964 mineral production established a new high, 5.4 percent above the previous peak recorded in 1963. However, the percentage increase in value of North American mineral production was slightly below overall economic growth. For industry in general, consumer demand held firm throughout the year and overall commodity prices averaged 2 percent higher than in 1963. Wages and salary payments also were up. With the single exception of the dock strike in the United States, the year was free of serious labor troubles and unemployment in both Canada and the States was at a low level. Despite the Viet-Nam situation, relatively tranquil international relations contributed to the forward movement of North American business. Total gross national product (GNP) for Canada and United States, in current dollars, was estimated at US$672.2 billion; 6.8 percent above the previous year's figure. Combined national income in 1964 amounted to US$546.9 billion, which was nearly 7.0 percent more than in 1963. In 1964, gains were recorded in each of more than 50 metals, nonmetals, and fuels commodities that comprise the North American output. The greatest category increase was 13 percent in metals, which was in part attributable to the 14 percent rise to a new record in value of iron and steel in United States, a 29 percent higher value of Canadian iron ore and a 57 percent rise in Canadian zinc. Despite a moderate decline in prices of iron ore and iron and steel products, generally favorable markets and rising prices for metallic ores and metals were a stimulant to the metals industry. Nonmetallic materials, with a total value in excess of US$5.25 billion were 7.3 percent higher than in 1963. High levels of highway and building construction and expanding demand for fertilizers and chemicals continued throughout the year. Noteworthy output increases were recorded for lime,

Jan 1, 1966

By Robert B. Wickham

"American Barrick has always balanced its aggressive operating approach with a conservative financial strategy. In fact, what enables their mining team to pursue such aggressive plans with confidence is the conservative financial strategy adhered to by the company. These policies are built on a prudent mix of gold linked financings, equity and gold price hedging.This paper outlines these policies and focusses in particular on American Barrick's gold price hedging program.IntroductionThe company's balance sheet at the end of 1990 clearly shows the wisdom of its conservative policies. Total assets have grown to over US$1 billion; cash has grown to US$312 million and shareholders' equity to US$645 million. All amounts included in this paper are quoted in U.S. dollars. Increased gold production and an effective gold price hedging program also combined to produce record income from operations, earnings and cash flow in 1990.The first half of 1991 is also indicative of the benefits of the company's conservative financial policies. Increasing production, together with its comprehensive gold hedging program, has generated increased earnings, even in a period of falling gold prices.All year-over-year numbers for the first six months are up. Gold production was 36% higher; earnings of $40.2 million $ 0.30 per share - were 46% higher than 1990.Barricks revenue continued to increase despite gold prices remaining unchanged during 1990. Barrick's hedging policy protects the company from falling gold prices on the basis that the upside looks after itself. Their hedging program - including various goldlinked fmancings - enabled Barrick to realize an average price of $437 per ounce of gold sold in 1990, compared with the Comex average gold price for the year of $384 per ounce."

Jan 1, 1991