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By Michael Robert Hodson

I. Introduction The free market cash price of aluminium in the third quarter of 1985 is approximately $1000/tonne, well below the short as well as the long run marginal costs of production. The current disparity between marginal costs and price, as well as the pattern of prices since their high level in 1980, has led many economists to question whether prices are governed by the 'fundamentals'. Prices, some would argue, are the result of speculation; and speculation is irrational, little influenced by the fundamentals of the industry. The object of this paper is first to examine the relation between the fundamentals and price. A number of simple models are formulated and some empirical evidence is given to show that prices are not very different from costs. There are good reasons why costs and prices have fallen since 1980. Second, the connection is drawn between the fundamentals and speculation. To do this the concept of 'rational expectations' is defined and applied to a model of the aluminium industry. Then speculation is introduced into the model and the characteristics of the solution are examined. The object is to discover the new factors that determine prices and the basic change in the nature of the solution that is caused by speculation. 2. Prices and the Simple Supply-Demand Model Consider a simple model of the aluminium industry. Demand, D, is determined by economic activity, A, given exogenously, and inversely by the price, P. Supply, Q, is determined by the inverse of the rnarginal cost curve, and so varies inversely with exogenous factor costs, C, and directly with price. Price is determined by the equality of supply and demand. Given the equilibrium level of demand, price in this model is equal to the rnarginal cost of producing the required level of demand, P = MC (Dl. Algebraically, [ ] How well does this simple model explain the change in prices during the last five years? Table I shows the LME cash price and the estimated marginal cost of producing consumption during the second quarters of 1980 through 1985. The figures in the table show that price and the marginal cost of supplying demand both fell between 1980 and 1982, rose in 1983 and by 1985 had fallen again. Only in 1984 is the direction of change different. And during the 1980 to 1985 period, marginal costs fell by approximately $560/tonne while the LME cash price fell by $678/tonne. There is a correspondence between the fundamentals of cost and price over most of the individual years and the period as a whole.

Jan 1, 1986

By B. Farshadi, B. Asi, M. J. Habibian

"In this paper, the most significant environmental aspects that are identified in the Taft Copper Project (TCP) are the quality and quantity of water, pollution of the existing watercourses and post-mining land use, matters such as air and noise pollution are deemed to be of less significance. Analysis has been performed for Do Nothing Alternative, Pre-stripping Phase, Mining Phase, Closure and After-use Phases. Analysis of the environmental assessment of TCP was carried out in three stages. In the first stage, the general negative and positive aspects of the project were identified. In the second stage the intensity, magnitude and significance of the environmental impacts of the project were identified. The third stage is related to the final conclusions of the assessment team and the relevant reasoning. A modified Leopold Matrix was adopted for evaluating the significance and magnitude of the environmental impacts. For this project, the matrix was modified to allow the assessor to take account of negative and positive numbers."

Jan 1, 2011

By Maria S. Adusumilli, A. Bhaskara Rao

ABSTRACT The presence of gold in lateritic crusts over mafic and ultramafic volcanogenic complexes in / and greenstohe belts, has called the attention in several parts of Brazil and also in Australia. Recent studies reveal the variety of structures and mineralogy of such crusts, and their importance in correlation with host(bed) rock types, as exploration guides, specially for greenstone belt metallogeny. The expected nature of growth of plates and/or nuggets in such crusts is under detailed study, and is considered as possibly due to dissolution and reprecipitation phenomenae of disseminated-fine-low grade ore in the host rock, in this investigation, laterite geochemistry, though incipiently discussed todate, is of fundamental importance and significance. Lateritic gold can be classified texturally as: dusty and diffused, fine, thin platy, taDular, and nuggets. Such gold is pure, and is often restricted to nodular (pisoliths, ooliths, concretions) forms or the matrix, that constitute the crusts or lateritised gravel beds which have an essentially goetnitic nature. Further this gold is recovered directly by mining the crusts or the adjoining placers with the metal derived from them. The thickness and extension of laterite crust zones is extremely variable depending oh the paleoclimatic conditions, and is conditioned to the favourable lithology and its structural expression. However, the "growth" of gold in these laterites will be conductive , without doubt, to several small scale mining activities, specially in the developing countries and regions limited to latitudes 309N and 309S.

Jan 1, 1987

By M. Kung, D. Schwegler-Berry, V. Castranova, D. Lewis, H. Abrons

Pulmonary responses to coal mine dust exposure were investigated by analysis of bronchoalveolar lavage specimens from non-smoking coal miners (n-12, mean age-43 ± 2 years, mean underground exposure-17 ± 2 years) and from non-smoking normal volunteers (n-18, mean age-43 ± 2 years). Spirometric and diffusion capacity indices were monitored as part of a physical exam. Lavage was performed in a subsegment of the right middle lobe by instillation of 200 ml of warmed saline solution in 50 ml aliquots and recovery by gentle suction. Specimens were centrifuged at 500g for 5 minutes at 2°C. Total and differential cell counts were recorded. Secretion of oxidants measured by chemiluminescence, surface morphology (spreading and ruffling), and lymphocyte parameters were determined. Lavage fluid was analyzed for the presence and quantity of acute phase reactants and immunoglobulins. Pulmonary function measurements as well as recovered lavage volume, total lavagable cells, and differential cell counts were similar in both miners and controls. Both resting and phorbol myristate acetate-stimulated chemiluminescence were also similar in miners and controls. In contrast, particle-stimulated chemiluminescence was significantly decreased in the alveolar macrophages from the miners (48% of control values). Morphometric analysis of scanning electron micrographs indicate that phagocyte surface spreading was similar in miners and controls. However, surface ruffling was 127% greater in the miners compared to controls. Lymphocyte subpopulations were similar in miners and controls. Protein analysis of the lavage fluid revealed lower total protein content in the lavage fluid of miners. However, the concentration of albumin, IgG, and IgA were similar in miners and controls. We conclude that most indices were normal in underground miners working under the current dust standard of 2 mg/m3. The decrease in particlestimulated chemiluminescence and the increase in surface ruffling in miners may suggest the beginnings of particle overload and activation of the macrophages. In addition, a decrease in total protein was noted in lavage fluid from miners.

Jan 1, 1991

By Charles E. Barker

Striking similarities exist between the sediment features and facies formed in some modern heliothermal lakes and the characteristics of some ancient borate depositional environments. Heliothermal lakes are density-stratified with shallow submerged margins surrounding areally restricted deep pool(s) containing a dense brine overlain by a much less dense brine. The reflective brine interface allows solar energy to be trapped in the dense brine which may warn to over 900C. carbonate precipitated from the dense brine is the typical sediment produced in warm deep pool. The strong density stratification reduces turbulence in the lake so clastic sediment is deposited under most of the lake as finely-stratified mudstone-limestone couplets (varves). This depositional process results in clastic lake sediment interfingering with and enclosing a thick evaporite pod(s). Because deep pools can exist at the same time or through geologic time, the evaporite pod(s) may occur sporadically throughout the lacustrine beds.

Jan 1, 1988

By Richard B. Berg

California was a major talc-producing State until the late 1980s when production from the deposits in the Death Valley area ceased because of a number of factors which included pressure to discontinue mining in and around Death Valley National Monument, and health concerns affecting markets for tremolitic talc. The states of Montana and Texas now account for slightly more than half of U.S. talc production. Deposits in an area encompassing southern Death Valley and extending east into the Kingston Range were formed by contact metamorphism of carbonate beds in the Precambrian Crystal Spring Formation next to Precambrian diabase sills. These deposits contain ore ranging from high-purity, fine-grained talc to platy, tremolitic talc with high brightness. Deposits of tremolitic talc and talc schist in the Silver Lake District in San Bernardino County resulted from metamorphism of Precambrian carbonate beds intruded by granitic plutons. Northeast in Esmeralda County, Nevada hydrothermal alteration related to Late Jurassic plutons caused talc replacement of Precambrian to Early Cambrian dolomite. A hydrothermal origin is also indicated for talc deposits in the lnyo Range just north of the Death Valley District where bodies of unusually pure talc occur in Paleozoic lime- stone near Jurassic granitic plutons. Talc is now mined from a deposit in the foothills of the Sierra Nevada Range southeast of Sacramento where quartz-mica schist of the Permian Calaveras Formation has been hydrothermally altered to talc. Replacement of magnesite of the Precambrian Allamoore Formation produced talc deposits mined in the Allamoore District of west Texas. This dark-gray talc of low iron content with carbon- aceous material and dolomite is ideally suited for use in ceramics where it makes a white product when fired. Small bodies of platy light-pink to white talc suitable for use as an extender in paint are also mined in this district. In the Llano District of central Texas talc has replaced impure carbonate rocks and serpentinite. All Montana talc production is from deposits in the southwestern part of the State that formed by Precambrian hydrothermal alteration of dolomitic marble. This alteration produced material with high purity that ranges from very fine-grained, massive talc to coarser grained, foliated talc. Markets include pitch control in paper, paint, cosmetics, ceramics, rubber and plastics. In southwestern and northeastern Oregon, talc has replaced serpentinite in the vicinity of Mesozoic plutons. Soapstone for carving is mined from a southwestern Oregon deposit. Deposits of similar origin occur in central and northwestern Washington.

Jan 1, 1995

By David A. Gulley, William A. Vogely

INTRODUCTION The Scope of the Chapter This chapter discusses environmental regulation and closely-related public policies associated with mineral development in the United States. This chapter outlines the nature, extent, and amelioration of secondary effects of mineral development. It sketches the policy foundations of regulation; discusses the implementation of environmental law; describes land use conflicts and land management regimes; and surveys the costs and benefits of environmental regulation. Since regulations are subject to frequent change, the chapter emphasizes basic factual and conceptual material, rather than specific regulations. The goal is to familiarize the reader with the general nature of environmental impacts and mitigation which arise in the minerals industry, and with the issues surrounding the regulation debate. The chapter is organized as a series of sub- chapters. The first of these is a discussion of the conceptual foundations of regulatory policy. The second section summarizes the principal federal environmental statutes, and the implementation of such regulation. Following that, the third section summarizes the current state of knowledge regarding the types of environmental impacts associated with mineral development. This discussion, organized in a format similar to that used in environmental impact statements, can be thought of as a guide to reading and understanding such statements. Next, the fourth section surveys studies of the costs and benefits of environmental regulation. 'These empirical studies are evaluated in terms of the framework developed in the first section of the chapter. In the fifth section, the discussion turns to federal, state, and local approaches to land use control and siting, and the economic analysis of such conflicts. Included are discussions of the two principal forms of public lands mineral entry, the 1872 location patent system and the 1920 leasing approach. CONCEPTUAL FOUNDATIONS OF REGULATORY POLICY David A. Gulley The Role of Regulation in a Market Economy What is Regulation?: Regulation is the intervention of government in the activities of the private market. In a market society, the private sector is presumed to be the most appropriate economic agent. Given this presumption, regulation generally begins with a demonstration of persistent problems under laissez-faire in a given context. Environmental and related regulation occurs because the public believes the free market does not properly value environ- mental quality. In this section, concepts are advanced to aid the reader in understanding the government's role in this respect.

Jan 1, 1985

By T. W. Martin, E. M. Frizzell

Jan 10, 1984

By Lennart Mukka

This paper describes the experiences from construction of a new ventilation system in LKABs Kiruna Mine in Sweden as well as the choice of the method for air flow regulation with concern of life cycle cost and the description of the foundation design. The evaluation of the performance test will be presented.

Jan 1, 1997

By C. L. McKenzie, R. A. Heig

The design and operation of metallurgical laboratories is discussed. Laboratory size, general laboratory equipment and metallurgical staffing are discussed from a standpoint of desired laboratory results.

Jan 1, 1986

By D. Royston

A novel low-cost technology is described that treats excavation waters in estuarine environments where water coloration due to humic material is present, along with acidity, turbidity, sediment and salinity. The process treats all the components in the water to produce a clear (color-free) water stream that meets requirements for direct discharge to local estuarine waterways.

Jan 1, 2003

By W. J. Halvorsen

Means for minimizing the disadvantages of thermal drying are suggested. The other ap¬proach of substituting other techniques in place of thermal drying is also discussed. Recent devel¬opments in fine coal screening dry down to 3.2 mm (0.125 in.) and 2.0 mm (10 mesh) offer an econom¬ical means in certain cases.

Jan 1, 1988

By Garry W. Stevenson

Data from many case histories reporting tunnel boring machine penetration rates in rock with unconfined compressive strengths greater than 70 MPa (10,000psi) are summarized. The case history data are useful for comparing estimated penetration rates with historic performance in similar rock types, particularly in granitic and metamorphic rocks. TBM exhibit higher penetration rates in sedimentary rocks than in granitic and metamorphic rocks. Data for the two groups of rocks are summarized separately.

Jan 1, 1999

By L. Michael Kass

Editor’s note. The following letter was sent to The Washington Post following the coal mining accidents in January that claimed the lives of 16 coal miners. The Sago Mine disaster in West Virginia and tragic deaths of 19 coal miners nationwide have reminded us that mining coal is still a hazardous occupation. The public outcry has already led to the passage of stronger mining regulations in West Virginia. Improved federal regulations will likely follow.

Jan 1, 2006

By Janusz Cygankiewicz, Marian Branny, Józef Wactawik

The paper presents mathematical model of concealed fire. We consider a porous medium (goaf, coal fissures) through which air flows. The set of equations is constituted by transient, two dimensional mass, momentum and energy balance equations with sources describing oxygen loss and heat generation caused by coal oxidation. Paper presents several examples illustrating the phenomenon of spontaneous heating in goaf areas behind longwall faces.

Jan 1, 1997

By W. C. Dailey

National Steel Pellet Co. operates eight 8.2-m diameter by 5.5-m long (87- x 18-ft) SAG mills to grind 15.24 Mt (15 million It) of taconite ore per year. Improvements to increase mill throughput, lower steel consumption, lower power consumption, and increase grinding efficiency will be discussed.

Jan 1, 1987

By Gary PE Beerkircher

A brief history of banana screen development and evolution will be presented along with the operational advantages of the large banana screens available in the industry today. Applications of the large banana screens will be presented as well as the economic advantages that the use of large banana screens can offer to the Mining lndustry today. Banana screen installations in metal, non- metal and coal mining applications will be presented.

Jan 1, 1997

By A. Shah, L. W. Saperstein, M. C. Radomsky, D. L. Passmore

The development of microcomputer software that provides an analysis of pit-specific accident and production data for the mining industry is seen as a vital component in a total loss-control system. The Mine Injury Reporting System (MIRS) allows users to access accident and production data prepared by the Health and Safety Technology Center of the Mine Safety and Health Administration of the US Department of Labor for any particular state and to generate a simple, yet informative, report.

Jan 1, 1990

By Douglas Owen

Two case studies describe the introduction of technology new to an organisation. The lessons learnt from these Case studies contribute to Our general understanding of the management of technological change.

Jan 1, 1989

By William J. Francart

In 2003, MSHA initiated a survey of the 11 Coal Mine Safety and Health Districts to develop a database for the implementation of Atmospheric Monitoring Systems (AMS) in underground coal mines. Mine operators continue to realize the benefits of improved fire detection capabilities, as the number of mines using the systems, as well as the percentage of mines, continues to increase. Fire detection data and new technology implemented in underground coal mines is discussed as well as regulatory compliance, diesel exhaust considerations and hydrogen interference in carbon monoxide detection.

Jan 1, 2005