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This Kaiser Engineers report on the feasibility of surface mining on the North Slope of Alaska has considered the quantity and quality of the North Slope deposits with attention paid to the economic, technical, and environmental constraints of the mining systems suggested for the three candidate minesites at Kukpowruk River, Elusive Creek, and Kuk River. Site selection, based on coal rank and quality as well as seam thickness and geometry, also considered demonstrated and hypothetical reserves relative to three mining systems (dragline, shovel, dragline and shovel), mining equipment requirements, infrastructure, and transportation relative to the Arctic environment and costed for potential markets. Throughout the report the delicate permafrost environment has received particular consideration. Recommendations based on the technical, economic, and environmental feasibility of mining the coal deposits of Northern Alaska by surface mining techniques have resulted in two conclusions: 1. The coal deposits can be mined with currently available technology; 2. It is uneconomic to mine these coals given current coal resource estimates, costs, and market conditions. A literature survey is included in appendix.

Jan 1, 1977

By J. N. Van der Merwe, D. P. Roberts

The two components of pillar design formula being used in South Africa are pillar strength and pillar load. While considerable effort has been directed to the determination of pillar strength, the other half of the safety factor equation, the load, has not received the same amount of attention. The load acting on pillars has always been calculated using the Tributary Area Theory (TAT). This paper summarises the recent studies on coal pillar loading using various numerical models. It concludes that although there are meaningful differences under certain circumstances, there is still a compelling argument to use the TAT in coal pillar design. Les deux parties composantes de la formule de conception de pilier généralement utilisée en Afrique du Sud sont la résistance de pilier et la charge de pilier. Tandis que des efforts considérables on été dirigés vers la détermination de la résistance de pilier, l’autre moitié du facteur de sécurité n’a pas reçu la même attention. La charge agissant sur les piliers a toujours été calculée avec la Théorie d’Aire Tributaire (TAT). L’étude présente résume les études récentes sur la charge de pilier de charbon utilisant des modèles numériques variés. La conclusion est que bien qu’il y ait des différences significatives selon les circonstances, il y a toujours un argument puissant pour utiliser le TAT dans la conception de pilier de charbon. Die in Südafrika für die Auslegung von Pfeilern verwendeten zwei Formelkomponenten sind Pfeilerstärke und Pfeilerbelastung. Während beträchtlicher Aufwand zur Bestimmung der Pfeilerstärke gemacht wurde, wurde der anderen Hälfte der Sicherheitsfaktorsgleichung nicht die gleiche Aufmerksamkeit gewidmet. Die auf die Pfeiler wirkende Last wurde immer unter Verwendung der Tributary Area Theory (TAT) berechnet. Diese Arbeit fast neuere Studien betreffend der Belastung von Kohlepfeilern unter Verwendung verschiedener numerischer Modelle zusammen. Die Schlussfolderung ist, daß obwohl unter bestimmten Vorraussetzungen bedeutende Unterschiede existieren, nach wie vor ein bezwingendes Argument besteht TAT in der Kohlepfeilerauslegung zu verwenden.

Jan 1, 2003

By Bruno Lafrance

Abstract - Quartz veins at the Mufferaw gold prospect and Komis gold deposit, northern Saskatchewan, are examples of oblique-extension veins that crystallized in shear and tensile fractures, which propagated and then opened oblique to their walls during a single continuous deformation event. The Mufferaw gold prospect consists of an interlinked mesh of conjugate shear fractures, tensile fractures, and veins. Oblique-extension veins crystallized in conjugate shear fractures, which opened during dilation of intersecting tensile fractures under the same far-field stress system. At the Komis gold mine, tensile and dextral shear fractures cut across granodiorite dikes. The tensile fractures formed perpendicular to the dike margins during stress transfer from the less-competent country rocks to the more-competent dikes. During extension of the dikes oblique to the bulk extension direction in the country rocks, the tensile fractures were reactivated as sinistral shear fractures. The reactivated tensile fractures and dextral shear fractures opened oblique to their walls, parallel to the bulk extension direction, and were sealed by the deposition of oblique-extension veins during the same deformation event.

Jan 1, 2004

By A. Opara

The weathering of coal mine waste rock releases iron, calcium, sulfate and associated trace elements like selenium [Se], which are introduced to seepage waters. Nitrogen species, such as nitrate and ammonia, are also found in association with coal-mining drainages mainly due to leaching of residual blasting compounds. Elevated concentrations of Se are a ubiquitous occurrence in coal mining environments in British Columbia, with values ranging from below 50 to over 500 µg/L in site waters. Selenate is the most common form of selenium found in waste rock seepages, and is exceedingly mobile in aerobic freshwaters. A major concern with waterborne Se in British Columbia is the potential for its bioaccumulation in aquatic food chains. Treatment to remove Se from coal-mining wastewaters has proven to be challenging for conventional water treatment technologies. Compounding this challenge, many streams are characterized by high flows and low selenium concentrations. Conventional membrane and ion exchange treatments produce concentrated brine streams that are difficult to treat or require disposal. Conventional biotreatment systems use excess nutrients to provide the required electrons to compensate for inefficient and variable electron availability, as well as to adjust reactor chemistry. The Electro-Biochemical Reactor (EBR) technology provides electrons to the microbes directly at a low voltage potential (1-3 V), supplying a controllable and consistent supply of useable electrons to the system and microbes at low current. In this manner, the EBR technology overcomes the shortcomings found in conventional systems, as it reduces the required nutrient addition and provides a more controllable, efficient, economical, and robust biotreatment system than found in past generations of biological treatment systems. Additionally, the EBR process does not produce excess solids or biomass; therefore, solids management post-treatment is not required. Laboratory EBR bench-scale and on-site pilot-scale systems were used to treat five British Columbia coal mine wastewaters; influent Se concentrations ranged from 35 µg/L to 531 µg/L. Se treatment targets for the tested waters ranged from 5 to 10 µg/L. Mean Se concentrations in EBR effluents ranged from 0.5 µg/L to 1.4 µg/L, while reducing sulfate concentrations. The test data demonstrate that the EBR technology is an effective Se removal option for British Columbia?s coal-mining wastewaters.

Feb 23, 2014

By A. Opara

The weathering of coal mine waste rock releases iron, calcium, sulfate and associated trace elements like selenium [Se], which are introduced to seepage waters. Nitrogen species, such as nitrate and ammonia, are also found in association with coal-mining drainages mainly due to leaching of residual blasting compounds. Elevated concentrations of Se are a ubiquitous occurrence in coal mining environments in British Columbia, with values ranging from below 50 to over 500 µg/L in site waters. Selenate is the most common form of selenium found in waste rock seepages, and is exceedingly mobile in aerobic freshwaters. A major concern with waterborne Se in British Columbia is the potential for its bioaccumulation in aquatic food chains. Treatment to remove Se from coal-mining wastewaters has proven to be challenging for conventional water treatment technologies. Compounding this challenge, many streams are characterized by high flows and low selenium concentrations. Conventional membrane and ion exchange treatments produce concentrated brine streams that are difficult to treat or require disposal. Conventional biotreatment systems use excess nutrients to provide the required electrons to compensate for inefficient and variable electron availability, as well as to adjust reactor chemistry. The Electro-Biochemical Reactor (EBR) technology provides electrons to the microbes directly at a low voltage potential (1-3 V), supplying a controllable and consistent supply of useable electrons to the system and microbes at low current. In this manner, the EBR technology overcomes the shortcomings found in conventional systems, as it reduces the required nutrient addition and provides a more controllable, efficient, economical, and robust biotreatment system than found in past generations of biological treatment systems. Additionally, the EBR process does not produce excess solids or biomass; therefore, solids management post-treatment is not required. Laboratory EBR bench-scale and on-site pilot-scale systems were used to treat five British Columbia coal mine wastewaters; influent Se concentrations ranged from 35 µg/L to 531 µg/L. Se treatment targets for the tested waters ranged from 5 to 10 µg/L. Mean Se concentrations in EBR effluents ranged from 0.5 µg/L to 1.4 µg/L, while reducing sulfate concentrations. The test data demonstrate that the EBR technology is an effective Se removal option for British Columbia?s coal-mining wastewaters.

Feb 23, 2014

By F M. Weir, M Fowler

A discrete fracture network (DFN) approach involves numerical modelling that explicitly represents how defects may be spatially distributed through a rock mass. A DFN is a 3D realisation of the ‘smaller scale’, non-deterministic defects; it is not an attempt to model larger, deterministic structures that should be identified as part of an engineering geology model. The approach utilises structural data in stochastic analyses to give a range of possible models that provides a tool for visualisation and analysis of a rock mass and indicates the potential large-scale slope or tunnel performance and stability.Stochastic fracture modelling for rock mass characterisation has significantly advanced over the past 25 years. With recent improvements to field data collection and computational power, it has become recognised internationally as a valuable tool for modelling some geomechanical problems encountered when designing excavations in fractured rock masses.This paper provides an introduction to the DFN approach, particularly the necessary input parameters and derivation of these from typical structural data sources, such as boreholes or scan line mapping. Of particular importance for engineering applications is validation of the simulated fracture network and techniques for doing so are discussed here.CITATION:Weir, F M and Fowler, M, 2014. An introduction to discrete fracture network modelling and its geotechnical applications, in Proceedings AusRock 2014: Third Australasian Ground Control in Mining Conference , pp 435–444 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 5, 2014

The scope of this paper is to introduce a mathematical model based on matrix algebra in order to determine similitude quantities, which can be arranged in specific formats to simulate the field conditions and associated behaviour. The formulation of a typical mathematical model applicable to Geomechanics is demonstrated here. The examples provided are intended to facilitate comprehension and application of the proposed model in practice.

Jan 1, 1989

By M Korte, J McMaster, C Brent

The Barrick Osborne concentrator has gone through a number of upgrades since commissioning and has increased production from the original 119 t/h design capacity to a milling throughput of 265 t/h in 2008. This was achieved incrementally over several years, by maximising operating efficiencies, in order to minimise capital expenditure, and take advantages of economies of scale; but more importantly it was reached with no measurable loss of recovery. Osborne currently processes a blend of underground and open pit material from the nearby Trekelano deposit. Following primary/secondary crushing, the material is processed through a rod/ball mill grinding circuit ahead of rougher/scavenger flotation that produces a copper concentrate. Osborne was seeking a further increase in plant throughput of the order of 15 per cent, but at more sustainable levels of secondary crusher plant utilisation. In early 2008, Osborne contracted Metso Process Technology and Innovation (PTI) to review the entire process from run-of-mine feed to final copper concentrate. This review would be done concurrently with surveys of both the crushing/grinding and flotation circuits being performed at the same time. The outcome would be a steady-state model of the complete flow sheet allowing the crushing/grinding model to interact with the flotation circuit model, such that overall process optimisation was possible. This was to apply both by exploring the operating limits of the currently installed plant, as well as looking at the logical next stage of capital plant expansions. Surveys of the crushing and grinding circuits were conducted at the Osborne concentrator in May 2008. The main objective of the surveys was to review the potential of increasing grinding throughput whilst maintaining the flotation feed 80 per cent passing size. This would also require improving the efficiency of the crushing circuit which was already operating in excess of 80 per cent of the time. Steady-state simulations were performed using the developed circuit models to identify opportunities to increase throughput and alleviate high circulating loads in both the secondary crushing and grinding circuits. Due to operational changes, the recommendations resulting from this project were considered by Osborne but have as yet only been partially implemented.  This paper covers part A or the crushing and grinding component of the project. A separate paper discussing part B or flotation is also being presented at this conference. The results of interactive simulations between the flotation and grinding circuit models are included in part B of this paper.

Jan 1, 2009

By M. Rezaee

Push backs used in the production planning of open pit mines play an integral role in generating annual cash flow. Although several algorithms for push back designs have been proposed, none have studied the optimum number of push backs. In this paper, different algorithms have been implemented for the push back design of a cross section of a copper deposit and the results discussed. Moreover, the optimum number of push backs has been determined using analytical and multiple attribute decision making (MADM) methods based on minimizing the risk associated with grade uncertainty, and minimizing stripping ratio, while maximizing net present value (NPV). According to the findings, the optimum number of push backs has been proposed to be between three and six, as lower quantities of push backs are more likely to achieve the calculated net present value, and have smoother stripping ratios for different pushbacks. This approach was examined in an operating mine and the optimum number of push backs determined to be four.

Jan 1, 2012

By AIME AIME

EVERETTE LEE DEGOLYER, past President of the Institute and Anthony F. Lucas Medalist, was presented with the John Fritz Medal at a dinner at the Wal-dorf-Astoria Hotel in New York, Jan. 14. Dr. DeGolyer is the third representative of the Institute in recent years to receive the John Fritz Medal which is awarded jointly by the four Founder Engineering Societies through a board composed of sixteen past presidents. In 1938 Paul D. Merica was given the award "for important contributions to the development of alloys for industrial uses" and in 1933 the distinction was given to D. C. Jackling "for notable industrial achievement in initiating mass production of copper from low-grade ores through application of engineering principles."

Jan 1, 1942

By M. W. BERNEWITZ

ALL live producers and manufacturers of metals and alloys are investigating new uses for their products. The tin and tin-plate industry is no exception. One-third of all the new tin mined and refined is consumed in making tin plate. Several billions of cans are each year made from tin plate for the preservation of nearly 200 kinds of food. There are more than 500 tin-plate mills or individual stacks in the United States, which country makes more tin plate than all other countries combined and exports large quantities. As much as 1,800,000 tons of till plate has been made in a year in this country, and 28.000 tons of tin has been used in this period for this purpose. In sonic years a third of the till is so consumed; in 1933 it was half of the supply.

Jan 1, 1935

By J. W. van der Merwe, A. S. Bolokang, M. J. Phasha, V. J. Matjeke, C. Moopanar

"Excessive wear rates on railway wheels can result in rolling-stock derailments. If wear is detected early the possible derailments can be prevented by prematurely replacing wheelsets, although the inventory cost and maintenance downtime remain a challenge. In the current study, wheels were introduced and monitored in-service for two years to investigate the cause of excessive wear rates. The wear rates and stresses were calculated for the wheels suitable for a maximum load of 26 t per axle. Microstructural and mechanical properties were analysed. As expected, the general microstructure of all the wheels tested was pearlitic. Although all the wheels complied with the tensile strength requirements, stress calculations confirmed material distortion on excessively worn wheels whereas trial wheels revealed yield strength exceeding the yield criterion. High wear rates observed on the wheels were a result of low yield strength relative to the load per axle. The typical wear mechanism found was due to a combination of rolling contact fatigue and abrasive brake wear. Despite compliance of the wheels with existing requirements regarding material and mechanical properties (hardness, ultimate tensile strength), it is recommended that the yield strength must also be taken into consideration as a critical parameter.IntroductionRailway wheels are used to support the wagon mass and guide the wagon along the tracks (Park, 1974). The wheels and rails must be able to tolerate the applied tangential forces in order to effect wagon dynamic performance and reduce material deformation (Ghidini et al., 1994; RSE_TE_SPC_0045, 2011; AAR M107/M 208 Specification, 2011. Over the past ten years, the South African coal wagon maintenance depot has experienced excessive hollow wheel wear rates on the heavy haul line wheels. The maximum load of Jumbo wagons on the coal line is 104 t, or 26 t per axle. Although the maintenance intervention cycle for wheelsets was two years, between February 2011 and August 2012 some wheels experienced excessive hollow wear. Hollow wear is regarded as wear exceeding 2 mm on the central portion of the wheel tread (RSE_TE_SPC_0045, 2011). This happened despite the fact that these wheels were manufactured and certified according to the requirements of AAR M107/208 standard for carbon steel wheels (AAR M107/M 208 Specification,. 2011) and the local wheel RS/ME/SP 021 standard specification (RS / ME / SP / 021 REV 5 (2013). The AAR standard only specifies a minimum hardness as a required mechanical property and the local standard specifies hardness and minimum tensile strength only. In general, an increase in hardness will improve the rolling/sliding wear resistance of steel. This relationship of hardness and wear resistance was found to be true only in a situation where solid and similar alloys are in contact (Singh, Khatirkar and Sapate, 2015). The sliding wear resistance of a material is usually estimated using Archard’s equation (Liu and Li, 2001)."

Jan 1, 2016

By Arthur Mackwell

The role of the precious metals is changing rapidly. They are becoming primarily materials of modern industry, and their decorative and monetary functions are diminishing in relative importance. Certainly gold is still the premier metal for jewelry, as silver is for silverware. But these uses are not growing nearly so fast as are the uses of these metals in a variety of industries. This is even more true of the platinum metals. Moreover, this is true despite the fact that the precious metals are highly expensive and liable to substitution by the base metals in cases where this is feasible. For the fact is that the physical and chemical properties of the precious metals make them relatively invulnerable to substitution; where they can be replaced by the base metals, they have been, and the opportunity for further substitution is, therefore, limited. SILVER In November 1969 the United States Treasury stopped minting the only remaining coin with any silver content. That was the silver-clad Kennedy half dollar, which had a silver content of approximately 40%. The step was taken out of necessity, because of the rising shortfall between world mine production and consumption. It was important to divert the 35 to 40 million oz of silver per year used for the minting of this coin into the open market, where it would be available for industrial consumption. This decision was important, not only for its practical effect but also for what it symbolized. Only four years earlier, in 1965, the Treasury had used 320 million oz of silver" for the full range of coinage. Now not an ounce of silver goes into the United States coinage. The reason is simple and yet complicated. For many years the U.S. Treasury had purchased silver at prices which provided a subsidy to domestic producers. As a result, silver producers were eager to sell to the Treasury, and that agency built up a huge supply of the metal -almost 2 billion oz by- 1961. But, as the free-market price neared $1.29, the basic melt value of the coinage, the Treasury became a seller of silver, not a buyer, and its stock was depleted rapidly. The Treasury lost more :than a billion ounces of silver in the years 1962 through 1965, and it continued to lose silver, both through coinage and through sales to consumers, through 1969. The Government continued to sell silver to consumers at the rate of 1.5 million oz a week, even after terminating the 40% silver Kennedy half dollar. But it was apparent that the Government stocks could last no more

Jan 1, 1976

By F. R. Hensel

The present paper describes a number of experiments with fine silver, coin silver, silver-cadmium oxide and silver-nickei-copper compacts, prepared by powder metallurgical methods. The test data are of a preliminary nature, since most of the work was exploratory. Fine Silver Eject of Compacting Pressure on Hardness and Density during Cold and Hot Pressing The cold-welding properties of silver have received considerable attention and the welding characteristics are functions of such variables as: cleanliness of metal particles (impurities and adsorbed gases), chemical nobility of particles, plasticity and hardness, particle assortment, particle shape, particle porosity, apparent density, temperature, pressure, time, recrystalliza-tion characteristics. Chemical nobility, plasticity and low temperature of recrystallization after work-hardening are responsible for the excellent low-temperature bonding properties of silver. Several series of compacts were pressed at pressures of 5, 10, 20, 30, 40, 50, 60 70 and 80 tons per square inch, at temperatures of 32°C. (room temperature), l00°, 2000, 300°, 400°, and 450°C. Silver powder of minus 325-mesh, produced by displacing silver from a nitrate solution by means of copper, was used. The density was calcuiated from accurately measured and weighed compacts. The hardness was measured on the Rockwell F scale. The investigation shows that an increase in pressure promotes a higher density and hardness regardless of pressing temperature, up to a temperature of 400° C. The pressure-density curves at various pressing temperatures are shown in Fig. I, the pressure-hardness curves at various pressing temperatures, in Fig. z. The greatest increase in both hardness and density was obtained in the pressure range of 5 to 20 tons per square inch. A compact from each series was annealed at 300°C. in air, for various lengths of time. The hardness values after annealing are shown in Table I. A minimum hardness was obtained after one hour of annealing. No change in density occurred during annealing. The maximum density was obtained at 80 tons per sq. in., and at this pressure the hardness is equal to that of hard-drawn wrought

Jan 1, 1945

By Paul. D. Merica

I LIKE to look upon the award this year also as a recognition of the importance of metallic materials of construction to the engineer and of the active progress which I believe is continually being made in almost all branches of that field today. It has been said that metals are the material backbone of industry and technology. Well in that case, I suppose we metallurgists are industry's bonesetters. And it is possibly not inappropriate that we should occasionally give some atten¬tion to those bony structures of our industrial activities upon which engineers in other fields hang their manifold and striking creations. What is going on in the field of metals development? Well, in the first

Jan 1, 1938

By L. D. Tracy

Many bituminous coal-mining companies have inaugurated extensive safety programs, but the failure to have approved or permissible equipment or safe practice in only one part of a mine has resulted in disaster. The necessity of using only equipment bearing the U. S. Bureau of Mines approval plate is emphasized by the fact that many accidents are the direct result of carelessness on the part of trusted employees using non-permissible equipment. A concrete example is found in the case of an explosion on October 26, 1926, in a mine in the Pittsburgh district, Pennsylvania. Story of the Explosion At about 10 o'clock on the night of the explosion an examination was made in No. 2 butt left and parallel off No. 14 north, and was found to be clear of dangerous accumulations of gas. (See figure). Several hours later a crew of two men brought a self-propelling rock-dusting machine within 50 feet of the face of No. 2 butt parallel before they examined for gas. The machine operator found an accumulation of explosive gas about 13 inches from the roof. He began to wave his arms thoroughly mixing the gas and air. Undoubtedly a highly explosive mixture was created, and as the men attempted to run the machine back to fresh air as explosion occurred.

Jan 1, 1927

By R. D. Brown

"AbstractIn order to raise the enormous amounts of capital which will be essential for the development of Canada's mineral and petroleum resources, this country's resource industry must be permitted to earn an acceptable rate of return. The existing tax regime, with its high rates, complexities and misdirected incentives, presents a serious obstacle to our resource industries in their development of Canada's immense , but increasingly lean, resources. Government tax and other policies are not the only cause of the crisis now facing the resource sector in Canada, but a reformed tax system, with stable and reasonable tax burdens, is required if Canada's resources of minerals, oil and natural gas are to continue to contribute in the future, as in the past, to our national well-being.An independent task force, organized under the auspices of the Canada West Foundation, has recently completed a wide -ranging report: on the future development of Canada's mineral, oil and gas resources. This five-volume report, completed after almost two years of research and study, concludes that Canada •is facing a major crisis •in the development of our resources, It states that unless corrective action is taken now, mineral production and exports could decline drastically after 1985, at the same time that Canada would face massive bills for imported oil because of inadequate and declining production.The task force, chaired by the author of this article, has put forward recommendations for a fundamental shift in both federal and provincial policies in order that Canada's mineral reserves can be developed in the national interest. This article consists of excerpts from the summary of the task force's report."

Jan 1, 1977

By Suresh K. Bhatt, Christopher Mark

Fatalities caused by highwall/spoil bank failure in the surface mines, coal and non-metal, increased to an alarming rate of seven during 1999. To determine the causes of slope failure and successful mining practices, the National Institute for Occupational Health and Safety undertook a study. The study included: 1.A review of accident statistics; 2.A review of Federal and state mining laws pertaining to surface mining; 3.A literature review, and; 4.Mine visits. The study emphasized surface mines in the states of West Virginia, Ohio, and Pennsylvania. The review of a decade’s accident statistics using the mine Safety and Health Administration’s (MSHA) database showed that approximately 40% of all ground control related incidents reported to MSHA occurred in just four eastern states: Kentucky, West Virginia, Pennsylvania, and Ohio. The comprehensive literature search provided a historical perspective of highwall stability issues. Eleven mines we visited to obtain data on their mining practice or design. Commodities included coal, sandstone, and limestone. Based on the visits, five case studies were developed to represent typical mining methods and effective ground control practices used in eastern surface mines. Benching was found to be a common technique to reduce the overall highwall slope angle. Decking in the softer zones, such as shale, proved useful in controlling damage due to blasting.

This paper discusses the social and economic impact of mining, and in particular goldmining, on New Zealand. The range of topics covered and their complexity has confined us in this paper to highlighting the main points of concern û a detailed report is under preparation. A major problem in undertaking this study was the lack of hard data on important environmental, economic and social issues and if there is to be effective planning in the area of natural resource use this situation must be rectified. The following conclusions were drawn: Goldmining was very important in shaping New Zealand's early social and economic development, providing wealth, employment and impetus for social change.Foreign investment and technology has been an essential element in New ZealandÆs economic development.Mining is a small industry at present by this must not be allowed to obscure its potential to broaden New Zealand's economic base and provide foreign exchange.With modern methods, development of mineral resources and environmental protection are not incompatible but certain unique and irreplaceable areas must be preserved.There are problems in evaluating mining and other projects because different groups hold different values, and arguments often hinge on the valuation of costs and benefits rather than the technical aspects of the analysis.Mineral exploration is a high risk business and the potential returns must be sufficient to attract capital if New Zealand's mineral resources are to be developed.A resurgence of goldmining will clearly have obvious benefits for Waihi but the local community must plan carefully for their future. New Zealand will also gain valuable foreign exchange required for higher levels of economic activity.

Jan 1, 1981

The principal source of funding the working capital requirements of gold miners has traditionally been equity. However in the 1980s, with a substantial increase in activity in the exploration for, and the production of, gold the traditional sources of equity finance became no longer sufficient to meet demand. With the often high cost of raising equity, the need for developing alternative financing structures became critical, especially since the stockmarket crash of 1987 which at least until recently, adversely affected the amount of equity capital available for investment in mining.

Jan 1, 1994