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By IPMI Educational and Scientific Foundation

It is with great pleasure that we announce the availability of this fourth issue of the IPMI Journal, a publication of the International Precious Metals Educational and Scientific Foundation. This digital peer reviewed publication has been created as a vehicle for the sharing of technical information related to the science and technology of precious metals. Since 1976, the International Precious Metals Institute has championed the exchange of information of critical importance to the precious metals scientific and commercial communities through its various communications vehicles. This has included instructional videos, annual conference symposia, special topic committee meetings, regional seminars, and professional and student achievement awards. Due to the breadth of important topics related to all aspects of precious metals, it has been the vision of the IPMI to provide a publication available to the general public that would become a key source of pertinent topics containing high quality publications by experts in their fields of study. Historically, the IPMI has attracted world renowned experts in many fields (including Nobel Laureates Henry Taube, Ei-ishi Negishi, Robert Grubs, Professor Ben Feringa, and David MacMillan) in the dissemination of discoveries, inventions, and industry proven practices. Such information has a total value greater than the sum of its parts as seemingly unrelated innovations from distinct focus areas can be adapted to solve problems. Because of this important characteristic of information exchange, we have decided to create a digital journal, available to the general public, that will not only communicate state of the art discoveries and sound practices, but will also review historical communications from the IPMI’s archives that have value and use even in today’s environment. On behalf of the members and leaders of the IPMI, we hope you will find value in this new publication.

Dec 1, 2020

By Gabriel Braga Regattieri Sampaio

Neste trabalho, determinou-se o calor latente de fusão da liga A356.0 através da Curva Zero, calculada pelo método Newtoniano de análise térmica linear. Para tanto, foram feitos experimentos com dois Copos de Análise Térmica (CAT) em moldes cerâmicos. Utilizou-se um sistema de aquisição de dados configurado para obtenção das curvas de resfriamento experimental (CR). Para o processamento matemático da curva de resfriamento e a determinação da Curva Zero Newtoniana (CZN) utilizou-se um programa comercial com planilha de cálculo. Obteve-se os valores de 321J/g e 345J/g para cada copo de análise térmica. Comparando com a bibliografia cujo valor do calor latente é 403J/g, a precisão foi de 82%.

Aug 16, 2017

By D Craw, L Cox, R J. Norris

The Rise and Shine Shear Zone is a mineralised low-angle deformation zone traceable for at least 7 km through biotite zone schist of the Dunstan Range, central Otago. The zone is commonly believed to be similar to the actively mined Macraes deposit. The Rise and Shine Shear Zone occurs in the immediate footwall of the Thomsons Gorge Fault, a regional scale Cretaceous normal fault that juxtaposes chlorite zone schist against biotite zone schist. Most mineralised rocks are deformed and record a progression from early stages of semiductile deformation to more brittle cataclasis. Folds in mineralised rocks trend northwards. The mineralised schist is hydrothermally altered with variable silicification, sericitisation, chloritisation, replacement of titanite by rutile and carbonate alteration. Gold is associated with pyrite and arsenopyrite and occurs in both ductile and brittle microstructures. Sheared and mineralised schist is cut by north-striking fault zones which host mineralised quartz veins. Veins in the shear zone contain hydrothermal albite. Trace element analyses show enrichment in As, U, Th and rare earth elements. Many of the above features are similar to Macraes deposit, but there are important differences. In particular, the Macraes deposit is hosted in lower grade rocks and truncated beneath by a normal fault, Macraes has no U or Th enrichment, Macraes veins have no albite and folds at Macraes trend NW-W. Rise and Shine mineralised rocks have no Cr enrichment and no hydrothermal graphite.

Jan 1, 2005

By Richard S. Dennis

Acid recovery employs ion exchange (I-X) resin as separation media for inorganic acids from dissolved metallic salts by physical adsorption and without the use of chemicals. This technology has been used for years on spent etching and plating liquors to recover acid for reuse in the bath and to reduce waste acid neutralization costs. It is also used for electrolyte treatment to facilitate valuable metal recovery via acidity reduction. TETRA's ccrxr'" I-X contactor has been used successfully for acid separation from its metallic salt counterpart in a simple, continuous operating mode using strong base anion resins. Efficient separation is enhanced by acid reconcentration to nearly its original strength or as high as 14-20%. Continuous treatment also recovers heat to the tankhouse or bath and improves metal quality due to consistent acid quality. Conventional fixed bed ion exchange (I-X) systems are impractical for acid recovery because of complex control design and large resin inventories needed to process very low liquid-to-resin treatment ratios associated with strong acid concentrations.

Jan 1, 1996

"Quang Ninh province is located in the north east of Vietnam and the coal mining in the province generates two thirds of the province’s GDP. The coal is extracted from both open pit and underground mines for the country’s complete coal export and by a share of more than 90% for domestic coal usage. Overburden generated through open pit mines is piled up nearby in the form of large waste rock dumps. The side-hill fill dumping near open pit mines is the source of environmental degradation in the region. Among the current problems at solid waste rock dump sites are dust emissions during and after dumping as well as Acid Rock Drainage (ARD). One of the major existing problems at waste rock dumps is dump stability (comprising erosion, sliding and subsidence issues). The RAME R&D project (Research Association Mining and Environment in Vietnam) is - among other activities - actively involved in the research for stabilisation and rehabilitation of mine waste rock dumps in Vietnam in the form of several sub-projects. The Institute of Mining Engineering I of RWTH Aachen University is leading the sub-project of mine waste dump stabilisation in co-operation with Chair of Geotechnical Engineering and Brenk Systemplanung GmbH. Mine waste dumping in the form of layers as an alternative to the side-hill fill dumping is expected to bring up environmental and economical benefits by minimising the problems of dump sites with the contribution to a sustainable development. Reduction of the post construction settlements, long term stable dump profile with minimum erosion, improvement of material parameters for geotechnical slope stability through compaction from hauling trucks as well as economical evaluation of new dumping concepts are the areas of the current research. The project has been financed by German Federal Ministry for Research and Education (BMBF). The ultimate aim of the sub-project is the compilation of the project results in the form of a "Best Practice Guide" and software based "Decision Support System" for planning and management of solid mine waste dumps."

Jan 1, 2011

1. New books Australian Institute of International Affairs. Uranium - energy source of the future? Canberra, thelnstitute (Box E181, P.O., Canberra, A.C.T. 2600, Australia), 1979. 202 pp. A$4,95 (postage 50c). Euroeconomics. The steel industry in Western Europe.. industrial and financial indicators. Paris, Eurofinance (9 Avenue Hoche, 75008 Paris, France), 1979. 167 pp. FF4,500 (Available in English and French.) M. B. Piggott. Load-bearing composite materials. Oxford, Pergamon Press, 1979. $15,00. J. H. E. Olaf. Automation and remote monitoring and control in mines. Essen (West Germany), Verlag Gliickauf GmbH, 1979. 200 pp. DM36. (In English.) J. P. Jenkins and E. T. Brown (eds). KWIC index of rock mechanics literature. Oxford, Pergamon, 1979. 742 pp. £60. R. J. Wakeman (ed.). Progress in filtration and separation 1. Amsterdam, Elsevier, 1979. 346 pp. Dfl.llO,OO. 2. New journal As from 1980, Coal Calendar is being published as a separate monthly periodical. 3. Proceedings L. E. St Pierre and G. R. Brown (eds). Future sources of organic raw materials. Oxford, Pergamon, 1979. 612 pp. £22,50. P. Haasen, V. Gerold, and G. Kostorz (eds). Strength of metals and alloys. Oxford, Pergamon, 1979. 3 vols., 1800 pp. $200. K. J. Miller and R. F. Smith (eds). Mechanical behaviour of materials. Oxford, Pergamon, 1979. 3 vols., 1800 pp. U.S.$200. 4. Tax relief? The Publishers' Association of Great Britain recently issued a circular to a number of professional bodies drawing their attention to a court decision in favour of tax allowances on the purchase of textbooks. In January Electroheat The International Union for Electroheat, which com. prises a score of highly industrialized countries, every four years organizes a congress at which experts discuss the technicalities and economics of the latest applications of electroheat in industry and other sectors. Corrigenda: March issue The following amendments should be made to Table II of the paper 'Commodity analysis:

Jan 1, 1980

By I. Campbell, P. C. Jones, E. G. Potter, R. P. Taylor

"The Cobalt embayment is a large domain of Paleoproterozoic clastic sedimentary rocks that unconformably overlies the Archean Abitibi greenstone belt. Regionally extensive sills and dikes of Nipissing diabase, emplaced circa 2219 Ma, occur throughout the embayment and are the preferential host to gold-bearing polymetallic vein systems on the Merico-Ethel property, near the northeastern margin of the Cobalt embayment. These gold-bearing, polymetallic veins are predominantly east-west-trending, steeply dipping, discordant calcite- quartz vein systems that formed close to the time of crystallization (within ~15 m.y., based on Pb-Pb ages) of the Nipissing diabase. The ore mineralogy is complex in character, typically comprising sulfides, arsenides, native metals (gold and silver), and specular hematite, preferentially concentrated along the interface between silicate and calcite gangue. A simplified sequence of mineral deposition in the veins is: (1) "Early-stage" pyrite ± chalcopyrite hosted in quartz ± chlorite gangue; (2) "Main-stage" polymetallic (Cu + Co + As + Ag + Au + Bi ± Pb ± Ni ± U) sulfides, arsenides, and native metals hosted in calcite gangue; and (3) "Late-stage" calcite flooding ± galena. Wall-rock alteration in Nipissing diabase is restricted to narrow (<5 cm) haloes of calcite-chloriteepidote- bearing assemblages, whereas a weak alteration halo of specular hematite, calcite, and allanite-epidote has been observed in the surrounding sedimentary rocks. In terms of their age, geology, mineralogy, paragenesis, and morphology, the gold-bearing vein systems at Merico-Ethel closely resemble the silver-sulfarsenide vein deposits of the historic Cobalt and Gowganda mining camps. These observations indicate that the Au-bearing veins are variants of the Ag-vein systems and as such, have a common genesis belt. L’Échancrure de Cobalt est un large domaine de roches sédimentaires clastiques d’âge Paléoprotérozoïque qui reposent en discordance sur la ceinture de roches vertes d’Abitibi d’âge Archéen. La Diabase de Nipissing, mise en place vers 2219 Ma et qui constitue un réseau de sills et de dykes d’importance régionale, est présente dans l’ensemble de l’échancrure et constitue la roche-hôte principale des systèmes de veines aurifères-polymétalliques de la propriété Merico-Ethel, près de la bordure nord-est de l’Échancrure de Cobalt. Ces veines à minéralisation aurifère et polymétallique constituent un système de veines de calcite-quartz sécantes d’orientation principalement est-ouest et à pendage fort qui se sont formées peu de temps après la cristallisation de la Diabase de Nipissing (à ~15 Ma près, d’après les âges Pb-Pb). La minéralogie de la minéralisation est complexe; elle consiste typiquement en sulfures, en arséniures, en métaux natifs (or et argent) et en hématite spéculaire, préférentiellement concentrés à l’interface entre les silicates et la gangue de calcite. La séquence de déposition simplifiée des minéraux dans les veines est : (1) «Stade précoce» pyrite ± chalcopyrite encaissés dans une gangue de quartz ± chlorite; (2) "Stade principal" sulfures polymétalliques (Cu + Co + As + Ag + Au + Bi ± Pb ± Ni ± U), arséniures, et métaux natifs dans une gangue de calcite; et (3) "Stade tardif" calcite massive ± galène. L’altération pénétrative de la Diabase de Nipissing est confinée à des halos étroits (<5 cm) présentant des assemblages marquées par la présence de calcite-chlorite-épidote, tandis qu’un faible halo d’altération en hématite spéculaire, calcite et en allanite-épidote est noté dans les roches sédimentaires environnantes. De par leur âge, leur géologie, leur minéralogie leur paragenèse et leur morphologie, les systèmes de veines aurifères de Merico-Ethel ressemblent beaucoup aux gîtes filoniens d’argent-sulfoarséniures des camps miniers historiques de Cobalt et de Gowganda. Ces observations indiquent que ces veines aurifères constituent une variante des systèmes des veines argentifères et qu’elles partagent"

Jan 1, 2009

The Bega granite at Whipstick, N.S.W., consists of a granite metasomatically altered to leucogranites and a spessartite-granite. The ore occurs in pipes controlled by jointing and shows evidence of post-depositional tectonic forces.The principal ore minerals are molybdenite and bismuthinite, with minor amounts of uraninite, pyrite, gold, bismuth, joseite A, joseite B, tetradymite, chalcopyrite, arsenopyrite, and skutterudite. The gangue minerals are microcline, albite, quartz, muscovite, and spessartite, with fluorite, chlorite, magnetite, and biotite as accessory minerals.The intrusion of granite was followed initially by ascending metasomatic fluids which penetrated along joints to be trapped in the domed roof of the intrusion to form the leucocratic granite. Iron-manganese-rich fluids metasomatically altered the granite to a spessartitegranite which is associated with the later deposited ore.Quartz veins and dykes of varying composition post date the ore deposition.

Jan 1, 1968

The U.S. Bureau of Mines, Department of Labor, and United States National Committee of the CIE hosted the TC4.10 Mine Lighting Committee Meeting and Second International CIE Mine Lighting conference at the MSHA Academy in Beckley, WV from October 12-16, 1981. This was the first time the meeting and conference had been held in the United States. The TC4.10 Mine Lighting Committee, chaired by Dr. Adam Peretiatkowicz of Poland, was attended by 15 committee members and six guests representing eight countries. Discussion during the meeting covered mine lighting instrumentation, open cast (surface mine) lighting, and lighting sources. The committee also reviewed a draft of proposed lighting terminology and suggested changes to make the definitions more acceptable to representatives of the nations present. The mine-lighting conference featured 20 papers presented by 18 speakers representing six countries. The papers covered all phases of mine lighting, including research, hardware development and application, personnel acceptance, and requirements for system maintenance. The conference attracted 126 attendees and also included displays by eight lighting hardware manufacturers and four mining machine manufacturers. Papers from the conference are being published by the Government Printing office, with copies presented to the conference attendees. Copies will be available to others interested through the NTIS. During the course of the TC4.10 meetings and conference, committee members toured three mining equipment assembly plants, and six of the foreign representatives visited a longwall installation in an underground mine. Planning and administrative services for the meeting and conference were handled by Bituminous Coal Research, Inc., under USBM Contract H0318038.

Jan 1, 1982

An evaluation of blasting procedures in surface mining operations was undertaken to determine means for improving safety. The objectives of the study were to: 1. Develop guidelines for safer blasting practices 2. Specify changes or additions in regulations concerning the use of explosives 3. Identify areas in which additional knowledge needs to be developed. As a basis for the evaluation, an idealized blasting cycle was prepared. Developed in the form of a scenario of surface mining operations, this synthesis of good mining practices served as the standard against which observed activities were compared. Blasting hazards were divided into two categories: those known to exist and those which are potential. Known hazards were identified in terms of situations which have actually resulted in explosives-related accidents. The evidence for known hazards was obtained primarily from MESA records of mine accidents. Potential hazards were identified by observation of mining activities and consultations with mining, explosive industry and government regulatory agency personnel.

Jan 1, 1977

By J. E. Dutrizac

"The end of an era in zinc metallurgy took place on July 31, 1976 when the horizontal retort furnaces of the National Zinc Company in Bartlesville, Oklahoma were permanently shut down (1) . For more than a century, horizontal retorting had been the most common method of producing zinc in the United States; it was a thriving industry in many parts of that country, especially in the natural gas belts of Oklahoma and Texas. With the Bartlesville closure, yet another metallurgical process has become an object of historical interest for North American metallurgists. Although shrouded in controversy, the origins of zinc metallurgy seem to date back at least 2000 years. Pyrometallurgical methods with carbon reductants are capable of producing zinc from oxidic zinc ores, but only above the boiling point of the metal. Although slow cooling results in re-oxidation of the zinc vapour by air or carbon monoxide, quenching yields liquid zinc; some form of rapid cooling, either accidental or intentional, was likely used by ancient metallurgists to liquify the metal. Zinc metal found in Athenian objects of the Roman era was likely of accidental origin. The Romans employed brass extensively for coins and ornaments(2) , and this was intentionally produced by the calamine process whereby oxidic zinc ores were added to molten copper under strongly reducing conditions. Zinc appears to have been known in China and India as early as 1000-1300 A.D., and was probably smelted commercially in those countries from the 14th century. Although the early metallurgical procedures were probably inefficient, they were able to produce zinc metal in significant amounts. The large heaps of zinc residues with clay retorts bear testimony to an early smelting industry of impressive magnitude. It is estimated that the heaps at Zawar, India alone represent the extraction of 100 000 tons of metallic zinc(2) In the 1730s the smelting of oxidic zinc ores was developed in England using a vertical retort method. In 1788 a British patent was granted for making zinc from zinc blends (ZnS) by roasting the ore in a coalfired reverberatory furnace, mixing the calcine with charcoal and smelting the mixture with suitable zinc condensation. The English process was very energy intensive, however, and early in the 19th century the Belgians developed a horizontal retort process for the reductiondistillation of zinc that was more fuel efficient. This technique was gradually developed into what came to be known as the Belgian process, the forerunner of the ""modern"" horizontal retort furnace."

Jan 1, 1999

FOR rapidly marking in geological and topographical features on parish plans, the author has used the Veeder cyclometer with very satisfactory results. A simple Veeder cyclometer, usually retailed at cycle depots at 4s., is fixed to the axle of the front wheel of an ordinary bicycle. The cyclometer is desigued to read in miles and tenths of miles, which are recorded through gearing actuated by a striker on a spoke of the bicycle wheel engaging one of the vanes of the cyclometer once every revolution.By using 80 strikers the reading would be in chains and tenths of chains; therefore the use of 8 strikers gives the reading in chains, utilizing all the figures. The cyclometer is designed to be placed on the right-hand side of the bicycle, and takes up a minimum of space, being only about the size of the top joint of the thumb. With some makes of cycles there is insufficient clearance, so the cyclometer must then be placed on the left side, and the 8 strikers made to engage the top vanes, as shown in the sketch (Fig. 1).Very accurate readings can be obtained by this instrument. The author has found by numerous tests that the maximum error...

Jan 1, 1916

Prof. A. Ledebur, Freiberg, Saxony :* Mr. Sauveur has presented and enriched with original observations a valuable summary of the theories advanced hitherto concerning the hardening of steel; but in one particular, it seems to me, his statements call for correction. He says:

Jan 1, 1898

By Walter E. Vanderpool

Three drilled foundations for an elevated water-tank were instrumented, tested and monitored during construction and the first two years in service. One shaft was load tested by the Osterberg method. A void was detected in one shaft by cross-hole sonic logging, pulse-echo logging and concrete coring. The void was instrumented, hydrostatically tested and pressure grouted. The shaft was ?abandoned? and replaced by two smaller shafts with a straddle beam cap. One of the replacement shafts and the cap were instrumented. The strain that appeared in the abandoned shaft, the replacement shaft and the cap were monitored during the remainder of the construction, through the commissioning test and the first two years of service. The results demonstrate the precision and sensitivity of the vibrating wire strain gage.

Jan 1, 2004

By H. F. Silliman, Daniel R. Hull, Earl W. Palmer

THE brass-rolling industry has not had a great deal of experience with antimony in its product. There have been some recent excursions with antimony as a corrosion inhibitor in tubes, but in sheet brass it has been regarded with apprehension and generally avoided. This is not to say that [ ] contaminations have never occurred, and probably a great many brass mill men have had their own ideas on the effect of such contamination. Our own views were based upon certain experiences some years ago with strip castings that split lengthwise in the early stages of rolling. The nature of this splitting is shown in Fig. I, from a photograph taken in 1922 as a record of 20 bars of 65-35 common brass made with an antimonial brand of copper. These bars were cast 6 ¾ in. wide by 1 in. thick by 45 in. long. In the first pass through the rolls, 19 of the 20 split lengthwise throughout their length, while each half curved outward in a wide arc as it emerged from the rolls. [ ] In those days, if splitting was not a frequent occurrence, it was not unfamiliar. One can recall periods of short duration when large amounts of common brass would behave in this way. There was nothing imaginary about these spells. The affected metal would split lengthwise in the breaking rolls, and no maneuvering of mill practice made any difference. The condition would descend like a plague, demoralize the mill for several days, and disappear. It is doubtful if anyone knew the cause-however many explanations may have been current. In 1921 a quantity of split brass was traced to the use of fired small-arms

Jan 1, 1943

By P Taskinen, D Lindberg

The increase in metals demand in the electrifying globe means significant growth in the smelting of copper, nickel, zinc, and lead, produced from primary sulfide sources or using sulfide mattes as the intermediates of the process chains. This means that leaner and complex mineral deposits will be evaluated as ores and are in the future traded in the commodity market for smelting and refining to pure metals. An important issue in the trend is the technology metals, like antimony, tellurium, and gallium, which exist as trace elements in sulfide ores and form no ores of their own. Their recovery becomes important in the coming decades as will be the case with growing slag amounts without use in other industries. The key is to produce environmentally acceptable slags in the smelting operations. It sets new boundary conditions to the treatment of flue dusts. This means that all material streams of smelting and refining must be re-evaluated for the deportments of the main and minority metals. In copper smelting, the recoveries of precious metals are today important for the feasibility of the custom smelters but due to low prices of many minority metals they are discarded in slag landfills. It is one of the emerging issues also in the secondary copper smelting today and once the demand grows, the same question will be faced also in the mining-beneficiation-smelting-refining chain of the primary production of nickel, zinc, and lead. The distributions of many technology metals in the copper and nickel smelting have been recently studied using methods where the chemically bound trace elements in the slag and its phases at the smelting conditions have been studied. Thus, the key data about options for process modifications and additional processing steps are piling up. Short processing routes in the metals smelting and refining are attractive due to their simplicity. At the same time, complexity of many raw materials challenges the fluxing at high oxygen partial pressures in low silica slags with high metal concentrations. The compromise between high primary recovery and safe operation is a demanding task in conditions where slag foaming outside the processing window is evident. The increase in the demand of pure nickel is challenging the raw material basis where low-grade sulfide ores are soon smelted along with nickel laterites to matte. It is a demanding task at high MgO concentrations. The low solubility of MgO in iron silicate slags requires new fluxing strategies and new smelting end points for the operation at reasonable temperatures; the direct nickel matte smelting in one-matte mode may be an option.

Aug 21, 2024

By J. Mikhael Erekson, Connie Campbell Brashear, Brent Meins

Christmas morning 2020, an IED in an RV was detonated along an evacuated section of downtown Nashville, Tennessee. The blast damaged over 40 buildings, including AT&T’s Main Central Office and caused internet and cell outages across 1,200 zip codes for three days including the airport and EMS services. Published investigations by the ATF and FBI were inconclusive in determining the explosive composition and size. Video captured a large fireball that may indicate a fuel-air-mixture explosion which would create lower peak pressures than high explosives, but longer pressure duration and significant impulsive loading. Blast pressures were amplified by reflections in the urban environment bordered by the 8-story AT&T building and a row of multi-story historic buildings. Some structures had little damage as they were shielded from the blast pressure by closer buildings, and seemingly far-field structures contained damage from the pressure wave after multiple reflections and propagation through porous parking garages. Damage to the reinforced concrete frame AT&T building included snapped masonry ties, cracking and spall to the closest column, and vertical displacement of the elevator, even with the brakes applied. The historic structures directly across the street from the blast partially collapsed. Initial damage included complete failures of unreinforced masonry façades, broken timber beams, and uplifted roofs. Secondary, progressive collapse took place over months as the brick walls and weakened historic mortar could not resist typical wind and environment loads. One of the close historic structures was renovated in the 1990’s and structural retrofits to comply with building codes were required. The addition of steel columns and façade tie-ins improved survivability and it remained standing with a high percentage of the front brick intact. Generally, the observed blast damage was related to a structural component’s mass and flexibility. Internal timber framing was unscathed, but many steel studs required replacement. Glazing damage was observed several blocks away and many roof membranes were punctured by falling debris. Secondary damage from broken sprinkler lines and loss of environmental control often led to more costly repairs than the initial blast pressure damage. The proliferation of bomb-making knowledge leads to hundreds of bombings each year in the US. Building risk considerations should include explosive threats along with other hazards. ASCE structural standards and design manuals have been published to address these risks and may be useful guides for building construction.

Feb 6, 2023

By H. G. HYMER

B ECAUSE of its remote geographical position and inaccessibility, little is generally known of the mining and prospecting in Northern Rhodesia. In this rather new and promising region, the development of mines presents many difficulties. Although many mineral discoveries have been made, progress in .prospecting the huge mining concessions has been handicapped by the lack of roads, communication, transportation, native population and incomplete knowledge of geology.

Jan 1, 1929

For the third successive year it appears that demand for platinum will exceed supplies of newly-mined metal, forecasts Johnson Matthey in its "Platinum 1987 Interim Review." Based on data available at the end of August 1987, Johnson Matthey estimates that western world demand for platinum could exceed 93t (3 million oz) for the first time ever in 1987. Given a likely increase in demand of 4.3t to around 94t (140,000 oz to around 3.02 million oz), up by about 5% over 1986, there would be a 1.8- to 2.2-t (60,000- to 70,000-oz) shortfall in 1987 supply. South African mines enjoying undisrupted production last year after strikes affected Impala&apos;s output in 1986. The rate of increases in western world supplies, though, has probably not kept pace with the growth in demand. A downturn in US demand for platinum was counterbalanced by substantially increased purchases from Japanese and Western European consumers of the metal. Total imports of platinum into Japan in 1987 may have reached a record level of 45t (1.45 million oz). The largest source of demand for platinum remains its use in autocatalysts US and Japanese auto manufacturers reduced their platinum purchases in the wake of falling car production. Therefore, a small decline in overall 1987 sales of perhaps 780 kt (25,000 oz) was expected in 1987. Western European demand, however, rose strongly as a result of increased output. The spread of exhaust emission control regulations has sharply boosted the number of cars equipped with three-way catalysts containing platinum and rhodium. Western European auto makers probably needed 5.6t (180,000 oz) of platinum last year, a 50% increase over 1986. The jewelry industry, the second largest user of platinum, increased its offtake of platinum in 1987. Japan, the key to the jewelry industry&apos;s consumption of platinum, could absorb 24.8 to 26.4 (800,000 to 850,000 oz) in 1987, compared with 23t (740,000 oz) in 1986. Platinum has wide and diverse applications in industry. Other major users are the chemical, glass, electronics and petroleum industries. They were expected to increase their aggregate demand by about 1.8t (60,000 oz), or 11% in 1987. Investment demand for small platinum bars and coins of up to 311g (10 oz) dropped back in relatively inhospitable conditions. This, after rapid increases in recent years and a surge in US demand in 1986. However, Japanese investors purchasing bars weighing 500g or 1 kg (16 to 32 oz), and considered more speculative, recovered last year. Over the first eight months of 1987, platinum performed strongly on the open market with average prices well up from 1986 in dollar terms. But the increase was less marked where measured in sterling or yen. Platinum ad¬vanced by $3.70/g ($115 per oz) between Jan. 1 and mid-September with the average price having been surpassed only in the heady days of 1980. Johnson Matthey believes that supply and demand appear likely to keep more or less in step on a gently rising path. The recent open market volatility will continue with prices fluctuating widely over short periods. Writing in mid-September, and basing its view on the tangible evidence of platinum&apos;s price fall since the review was written, the company&apos;s assessment of price prospects is unchanged. Demand for platinum remains strong all-round. In October, imports of platinum into Japan were exceptionally high. And in the US and Japan there was a marked resurgence of demand from private investors. Although market sentiment may have been influenced in part by the news of several potential new platinum mines in South Africa, the full effects of these prospects on supply, even if they were all to materialize, would not be felt before the early-mid 1990s, Johnson Matthey said. According to the review, no radical change in platinum supplies is discernible in the near-term. Incremental growth from South Africa can be expected as the major producers continue to make the most of their existing resources. The Soviet Union may be keener to sell than it appeared earlier in 1987, especially if prices hold up, but a substantial increase is improbable. Canadian supplies are not capable of much variation from present levels. The palladium-rich Stillwater mine will make a modest contribution. Referring to the investment market, Johnson Matthey concluded that despite this year&apos;s reduction in sales of small-denomination investment products, platinum does appear to have established itself with private investors. Bearing in mind how business multiplied in comparatively unfavorable conditions before 1986, it is reasonable to look for a resumption of growth once the climate improves.

Jan 2, 1988

The rocks of Waihi and the surrounding district are almost entirely rhyolitic and ande5itic in character. Sedimentary rocks, with the exception of some surface deposits of clay loosely compacted conglomerate, etc., and one or two thin and broken beds of a very poor lignite, occasionally changed by igneous agencies into a bituminous coal, are almost absent. In the shafts sunk by the Waihi and Grand Junction companies outside the outcropping andesitic area of the Martha Hill, more than one old surface or lake bottom has been passed through. At these points layers of sand, consolidated volcanic mud and tuff, accompanied by numerous broken fragments of imperfectly silicified wood have been enccuntered, but these occurrences may, for the purpose of this paper, be neglected.The youngest rock of the district are rhyolites, probably of Pliocene age. At least three distinct classes of rhyolitic lava, each possessing features of unusual interest, may be made out. None of these, however, is gold-bearing. The youngest flow, a light-coloured, fine-grained rock, is remarkable owing to its enclosing at times fragments of carbonised wood, varying in size from mere specks up to quite large pieces of almost pure charcoal. Rhyolitic tuff is also met with. The rhyolites cover a large extent of nearly flat country east, south, and west of Waibi, here and there rising into barren, stony hills.Below the rhyolites, geologically speaking, but for the most part. forming hills which bound the rhyolitic plain, or rise out of it as isolated patches, come ahdesites of older...

Jan 1, 1902