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By Kendrick C. Hardcastle

The practice of transporting an ore or matrix from a pit area to the plant process area by means of a hydraulic pipeline has long been used by the mining industry. The industries which have classically used hydraulic transportation of ore to the plant include the phosphate mining industry, the heavy minerals mining industry, the clay mining industry, and the sand mining industry. As the advantages of this method become better known throughout the mining industry as a whole, and as techniques and expertise improve, its use will undoubtedly spread. Its use is presently being contemplated in iron mining diatomaceous earth mining, and several industries where massive removal of overburden is a predicate to economical mining. The widely recognized advantages of hydraulic transport at ion of ore from the pit area to the mines are: 1) Its relatively low initial capital costs. 2) Its speed of relocation at the mine site. 3) The washing and scrubbing action given to the ore by its hydraulic passage into the pit pump and the subsequent trip through booster pumps down the pipeline to the plant.

Jan 1, 1969

By William Gleason

"Once the primary fuel source for the United States and the economic backbone for communities from Appalachia to Wyoming, coal has been on a steady decline since the mid 1990s, and is now at the center of political debate in the United States.The political spectrum of the United States is divided on the future of coal and its place in the energy sector. The coal mining industry and the communities that rely on coal have increasingly been pitted against forces that wish to regulate coal to the history books.In 2008, President Obama launched what many have called his war on coal, and during his eight years in office, he pushed through numerous pieces of regulations and legislation and that he said were aimed at reducing carbon emissions, but that others viewed as direct assaults on the domestic coal industry. Obama led the United States delegation to Paris to sign the Paris Accord in 2016, a 196-country agreement pledging that the United States would do its part to reduce carbon emissions. His administration also instituted clean air, power and water regulations that added extra environmental burdens to many industries, but perhaps none more so than the coal industry.In this month’s lead feature, “A study of U.S. coal mine closures since 1994” (page 18), the impact of the war on coal, and other factors, can be seen in text and figures. Author Jacob Brinkman and coauthors Jay Schafler and Catherine Johnson scoured the data of the U.S. Energy Information Administration (EIA) and the U.S. Mine Safety and Health Administration (MSHA) to show how coal production and mines have been impacted since 1994 and how the years 1994 to 2000 and 2008 to 2016 were particularly hard on the industry.For example, in 1994 there were 2,354 coal mines in the United States. Currently, there are 1,035 mines in operation.In 2016, then candidate Donald Trump promised to end the war on coal and to put coal miners back to work. In 2017, President Trump has followed up on those promises. He announced plans to withdraw the United States from the Paris Accord, signed an executive order designed to undo the Clean Power Plan put in place by President Obama, halted the research on the health effects of mountaintop removal coal mining, directed the U.S. Environmental Protection Agency (EPA) to revise the guidelines of waste water from power plants and has touted that more than 1,000 coal miners have returned to work since he was elected."

Jan 9, 2017

By Howard M. Graff

The Inland Steel Company operates five underground iron mines in the Lake Superior District. The two largest of these, from the standpoint of productive capacity, are the Sherwood Mine in Iron River and the Bristol Mine in Crystal Falls, both on the Menominee Range of Michigan. It is at these two mines that we have had our principal experience with belt conveyor installations underground, .At the Sherwood Mine, which has an annual capacity of about 450,000 tons, the first conveyor belt installationwas made in 1947 when conveyors were installed in the main haulage drifts on the 1200 ft, level, It was estimated at that time that approximately 5,000,000 tons would be mined from the stopes above the 1200 ft, level and. that if all this material could be moved to the shaft by belt conveyor, the entire cost of operation, including maintenance and the amortization of the equipment, would be about $,05 per ton, which was slightly more than half of what the cost would have been by conventional tramming methods employing locomotives and cars. Now, ten years later, the 1200 ft, level is almost completely mined out and we have actually removed. 5,200,000 tons and. the average cost of transporting this material to the shaft by belt conveyor has been $.095 per ton. Since there has been a substantial increase in hourly rate of pay and also in the cost of materials since 1947, we feel that the anticipated savings were very nearly realized., The 1200 ft, level installation at the Sherwood consisted of two 36" trunk line conveyors 815 feet long and 380 feet long, respectively, deliverying ore to the shaft. These in turn were fed. by three lateral 36" conveyors which paralleled the sides of the orebody, These gathering conveyors passed under draw points to which ore was brought from the stopes by mea S of scrapers or shaker conveyors, Shaker conveyors were used for a number of years in conjunction with the conveyor belt system of haulage but it was finally concluded that with this particular type of ore, the maintenance on shaker conveyors was excessive. Therefore, more recently, we have gone back to scrapers for the shorter distances and. are using belt conveyors in the scraper drifts for the longer distances. After this belt system had been in operation for about three years, it had proved to be so successful that it was decided to proceed with the same system or. a new level to be opened up 200 feet below. Instead of sinking the shaft and driving a horizontal drift to the orebody on the 1400 ft, level, an inclined conveyor drift was started near the shaft at the 1200 ft. level and driven downwards toward, the orebody at a slope of 15 degrees. The conveyor installed in this inclined drift is 36" wide, 990 feet long, is powered. by a 100 hp motor, and is capable of delivering 300 tons per hour to the 1200 ft, level shaft pocket. It is fed by lateral horizontal conveyors on the 1300 ft? 1400 ft., and 1425 ft, sub levels. Wien the inclined drift was started, the rock was scraped from the breast directly to the rock pocket at the shaft. As the distance increased., double scraping was employed, until the advance had reached 350 feet, At this point a portion of the final conveyor was installed, with a scraper slide near the breast, T e drift was then advanced be scraping on to the conveyor until a sufficient distance had been driven to permit the installation of an additional 200 feet of conveyor. This proved to be a very efficient and economical means of moving the development rock to the shaft and obviated the need of using cars or an inclined skip way, At the present time 85 percet of tie entire mine output is being mined below the 1200 ft, level and is delivered to the shaft via the inclined conveyor. The system appears to be working as well and as economically as did the conveyor systemonthe 1200 ft, level.

Jan 1, 1958

By Thomas M. Larimer

Prior to April, 1961, the coal charge to Clairtonts coke oven batteries was 3" x 0" mine waslied coal having approximately 6.0% to 7.0% moisture. Even at this size and moisture content, the arching, rat-holing and hang-up was excessive and the effective live storage of coal was only 60% to 70% of the rated capacity of the coal bunkers, depending upon the moisture of the coal. In addition, many production delays were encountered in the time and methods required to fill the larry cars. The need for an improved metallurgical coke led to the introduction of pulverized coal to a portion of the plant in 196 1. When the full potential of the pulverizing equipment was realized, we were able to serve seven batteries in our second unit of batteries with pulverized coal through two coal bunkers. The discharge hoppers of these bunkers were equipped with air vibrators to assist the flow of pulverized coal into the larry cars. The vibrators were helpful in this respect but required considerable maintenance and caused damage to the bin plates.

Jan 1, 1968

By James Lett

The role of pre-conditioning in a caving operation has multiple benefits, ranging from assisting with improved caveability, normalising fragmentation and improving draw point hang-up frequency. At Newcrest Mining’s Cadia Operations, both the Ridgeway Deeps block cave the Cadia East Panel Cave have utilised pre-conditioning using hydraulic fracturing. Seismic response data inside and outside the pre-conditioned volume show the benefit of treating the full caving block. Cadia East has further developed pre-conditioning to mitigate developing seismic hazards associated with major structures (fault-slip events) and managing mine-wide seismic hazards in new caving operations where the potential for large damaging seismic events exists due to high stresses and hard competent rockmasses. A case study reviewing the impact of pre-conditioning to mitigate seismic hazard associated with fault slip is presented. Cadia East operation undertook a targeted hydraulic fracturing program and reduced the overall number of large events as an example of the benefits of pre-conditioning. This paper will review the application of Hydraulic Fracturing at Cadia and discuss the geotechnical and seismological parameters of seismic events that occur within and outside of pre-conditioned rockmass volumes to demonstrate the benefits that Hydraulic Fracturing bring to future caving operations.

Apr 26, 2022

By Jr. Koch

In the Hydrogeochemical and Stream Sediment Reconnaissance (HSSR) phase of its National Uranium Resource Evaluation (NURE) pro¬gram, the U.S. Department of Energy (DOE) samples about 1400 sites for stream sediments in each two-degree quadrangle of the National Topographic Nap Series (NTMS) and about 1200 sites for ground or stream water. Through a geological/statistical analysis, we find that NURE data are useful for assessing the uranium resources of the NTMS quadrangles. Our computer-implemented System for Uranium Resource Evaluation (SURE) calculates a score for each NTMS quadrangle based on the HSSR, geologic, and radiometric data; we score the four Colorado quadrangles--Pueblo, Montrose, Durango, and Trinidad--that comprise the study area. We interpret the scores in terms of geology and the known occurrences, which include the Hanson ore deposit with reserves of 30,000,000 lbs. U308 and the Pitch mine with reserves of 1,740,000 lbs. SURE depends in part on distinguishing mineralized or metalliferous granitoids from barren ones through "geochemical signatures."

Jan 1, 1980

By R. J. Weigel

The Santa Fe Railway serves the dominant U. S. potash producing region which is centered at Carlsbad, NM. This rail system extends over 12,000 miles stretching from Chicago to the Texas Gulf Coast to the state of California. (see Figure 1) Since Carlsbad mining operations began in the 1930?s, Santa Fe has been transporting potash to many of the important grain producing areas of the country and to the major ports in Texas and California. Santa Fe has maintained a close relationship with the potash companies and has adopted a marketing philosophy of attempting to maximize opportunities for the Carlsbad producers where it is mutually beneficial. Potash has been an important commodity for the Santa Fe. It accounted for 8% of our revenue in 1965 and 3% in 1984. In the 1950?s, Carlsbad became the second largest revenue producing point on the Santa Fe. But this prominent position has diminished as ore reserves became depleted, imports flooded the U. S. market, and truck transportation developed.

Jan 1, 1985

By Bernie W. Martin, Paul MacLeod

The new St. Clair River International Tunnel Project presented unique challenges in planning, permitting and approval. The project straddles the border between the Province of Ontario and the State of Michigan necessitating the review of U.S. approval legislation that has not been used in 60 years. The preparation of an environmental impact report to satisfy the legislative requirements for the Federal laws of the U.S. and Canada as well as the Province of Ontario and the State of Michigan presented a daunting task. In all, over 200 external contacts were made in carrying out the environmental approvals and permitting work. The definition of the alternatives including the NULL option were documented along with the impacts and mitigation measures. A "Modified Delphi" technique, along with other methodologies, was used for alternative evaluation and selection. A formal and informal public consultation process was undertaken which involved over forty major presentations and external meetings. A unique alternative to the traditional design, tender, build contracting practice was adopted; The Negotiated Compressed Process (NCP).

Jan 1, 1993

By James R. Miller

This paper will describe the balling disc operation of the Marcona Mining Company at San Nicolas, Peru, with special reference to green ball quality. The report covers experience during the period of September and October 1965 and will be, more a state-of-the-art at Marcona report rather than -a technical treatise.

Jan 1, 1966

By H. -S. Yoon, C. -J. Kim, K. W. Chung

"With the final goal of ultrasonic application to ion exchange in a resin-in-pulp (RIP) system, the feasibility of an indirect ultrasonic application with a submersed ultrasonic probe was investigated first for the enhancement of ion exchange in the following resin-in-solution (RIS) system: Lewatit MonoPlus MP 600XL in an artificial solution with 106 ppm uranium. Ultrasonic radiation enhanced the ion exchange efficiency without mechanical degradation of resin. For 3.6 g/L of resin, the enhancement was 79 percent after 10 min of ion exchange and it gradually decreased to 11 percent at 60 min. In addition, a preliminary test of the mechanical stability of the resin in the RIP system showed little mechanical fracture of the resin due to ultrasound, which indicates that indirect ultrasonic application by a submersed ultrasonic probe is applicable for RIP systems. IntroductionIn uranium ore processing, the ion exchange process has been used on a commercial scale for preconcentration and purification (Gonzalez-Luque and Streat, 1984). The ion exchange process is divided into two processes: (1) a resin-in-column process with the uranium-bearing solutions passed through columns containing resins and (2) a resin-in-pulp (RIP) process with the leached ore pulp exposed to resins. The latter does not require the separation process of leach liquor and ore solids, which reduces process costs. This process, which has been developed commercially since 1955, has a certain drawback. The adsorption rate and efficiency in the RIP process are relatively low, so numerous contacts between resins and leached ore pulp are needed, which adds to the cost (Merritt, 1971). It is necessary to study methods to reduce process costs.Ultrasound can intensify mass transfer, increase the rate of chemical reactions, and change reaction pathways (Thompson and Doraiswamy, 1999; Luque de Castro and Priego-Capotem, 2007; Adewuyi, 2001; Luque-Garcia and Luque de Castro, 2003). It has great potential in chemistry and is especially considered to be a promising method for enhancing mass-transfer-limited processes, such as ion exchange. Enterzari and Tahmasbi (2009) reported the effect of ultrasound on water softening by ion exchange. Band et al. (1997) proposed a modulated ultrasound application to water desalination with ion-exchange hollow fibers. These reports revealed that ion exchange kinetics could be enhanced by the application of ultrasound. As for hydrometallurgy, Feng and Aldrich (2000) reported that the elution of an ion exchange resin was enhanced by the use of ultrasonication."

Jan 1, 2015

By Ian Farrell, Josh Stowe, Eric Wingeard

Tailings transport system design is generally based on identifying the minimum and maximum process boundary conditions for pump selection and pipeline sizing. The approach is robust and well-proven. However, the approach has the potential to skew selections to operating scenarios that have a very low likelihood of occurring, such as the combination of high solids throughput and low tailings solids concentration. The approach can result in a tailings transport system design that is overly conservative. A probabilistic method-based approach captures the independent variability of design inputs and the combined likelihood of outcomes. This approach identifies the process conditions that have the highest likelihood of occurrence and are most applicable to equipment and pipeline selections. An outline of a probabilistic-based approach to tailings transport system design and the resulting selections is provided in this article. The probabilistic-based system design is compared to the outcomes from the traditional approach. The benefits and challenges to this approach are discussed and recommendations for utilizing this approach for tailings transport system design are provided.

Mar 31, 2021

By Russell Frith

The entire subject area of micro-seismic events due to stored strain energy, as distinct from gas-driven coal outbursts, can be readily sub-divided into firstly events with their energy source from within the coal seam (termed “bursts”) and secondly, event with their energy source outside of the coal seam in either the overburden and/or floor strata. The reason for sub-dividing micro-seismic events in this manner is that if the causation mechanisms and associated geotechnical conditions are materially different, then effective pre-mining predictions and subsequent operational controls may also differ. Attempting to explain a multitude of micro-seismic event types without consideration of varying source mechanisms will inevitably lead to inadequate causal explanations and effective controls.

By W. J. Schlitt, K. McNaughton

A heap-leach field test was conducted during the 1993-1994 winter season at Carmacks, Yukon Territory, Canada. The purpose of the test was to demonstrate the viability of heap leaching Carmacks oxide copper ore in an arctic setting on a year-round basis. The test itself utilized a 5-m-diam crib loaded with 250 t of composite ore from the Carmacks copper deposit. The ore was stacked to a total height of 7 m in the crib, including 1 m of ore as an over- layer above the emitter system. This matched the plan for the commercial heap at the time when the test was started. The design also replicated an interior segment of the commercial heap. Leaching was done at a flow rate of 0.2 L/min/m2 using leachate at 21 °C. This temperature was maintained with no external heat input other than normal process heat transferred from electrowinning to the leachate via solvent extraction. Winter conditions were quite typical of those expected at the mine site. The temperature reached -54°C, while averaging -13°C over a three-month period. In spite of some flow system problems, leaching continued unabated, and freezing was limited to the insulating ore over-layer and isolated points near the outer crib walls. Thus, the test demonstrated that year-round heap leaching of Carmacks copper ore is practical in an arctic setting.

Jan 1, 2000

By Jeramy B. Decker, Paul H. Madsen

"During the excavation of the north bound tunnel of the Devil’s Slide Tunnel project, deformation (convergence) was measured after passing through Fault Zone B. The tunnel convergence was not symmetrical, but was larger on the left side of the profile. It was determined that a shear zone nearly parallel with the tunnel drive was contributing to the uneven deformation. This paper will discuss how it was determined that the shear zone existed and how multi-point borehole Extensometers (MPBX) were used to verify that a significant amount of the deformation was occurring due to movement along the shear zone as the excavation was advanced. In addition, performance of the shotcrete liner in the area of the convergence will be examined. Finally, the paper will consider the means and methods that were utilized to ultimately control and stabilize the deformation. INTRODUCTION The Devil’s Slide Tunnel Project consisted of excavating two 1,250 meter tunnels each with a profile of 80 m2 utilizing the New Austrian Tunneling Method (NATM) or otherwise known as the Sequential Excavation Method (SEM). The tunnels are part of the California Coastal Highway south of Pacifica, CA, a suburb of San Francisco. The tunnels were opened to traffic in March of 2013. Geological Setting The tunnels run north-south through the San Pedro Mountain ridge, which is part of the Santa Cruz Mountains. The tunnel lies within the San Andreas Fault system and is 7.2 km west of the surface trace of the San Andreas Fault and 2.8 km east of the surface trace of the San Gregorio Fault. The 10 km strip between these two faults is referred to as the La Honda structural and terrain block (Decker et al. 2010; Amini et al. 2005; Earth Mechanics Inc. 2003). Locally, the tunnel passes through three blocks representing different geological conditions: South Block, Central Block, and North Block (Figure 1) (Decker et al. 2010; HNTB Corporation et al. 2005). The South Block consists of Mesozoic aged granodiorite and quartz diorite. The South Block also contains many local shear zones and a low angle thrust fault (Fault A). The South Block ends at Fault B, which is the southern border of the Central Block."

Jan 1, 2016

By M. Brnich, S. Kramer, B. McNamara, T. Hethmon, M. Pedersen-Howard, S. Rajapaske, D. Lingenfelder, B. Huber, D. Hebig

"The development of mining safety and health management as a recognized profession has been long in coming. Over the last 150 years, the mining industry has evolved from having individuals randomly involved in safety related work with no specific responsibilities or qualifications, on to the designation of individuals responsible for safety, regardless of knowledge, qualifications and experience and finally to today’s expectation that virtually every mine and mining company has designated individuals operating as safety and health professionals. Further, with the complexity, risk potential and moral expectations surrounding safety, people who address mine safety and health management are justifiably expected to function in a professional capacity including:1. Rendering a specialized service based on advanced knowledge and skill.2. Maintaining a high degree of obligation to those most affected by mine safety outcomes.3. Bound by an ethical code in working with the public, employers and miners.4. Maintaining confidentiality with an employer or client. This historical change parallels thedevelopment of other professions, e.g., attorneys, engineers, physicians, etc., with the exception that those professions require a license granted by a governmental agency, which is justified on the basis of public protection, in order to practice. Likewise, decisions made by today’s mine safety and health professionals, both directly and in association with other managers, clearly have a significant impact on the life and welfare of miners throughout the world.CertificationIn light of this, there is growing need to improve standards of competency and professionalism for those who work in mine safety and health management. An effective mechanism to accomplish this, other than licensure, is the use of accredited professional certification programs. There are many professional certification programs for safety and health throughout the world (Hale & Harvey, 2012). However, there is only one certification specific to mining —the Certified Mine Safety Professional (CMSP). The International Academy of Mine Safety and Health (ISMSH-SME) was formed with the purpose of developing and managing mining safety and health certification programs for the Society for Mining, Metallurgy and Exploration (SME). In 2016, following the discontinuation of the International Society of Mine Safety Professionals (ISMSP), which developed the Certified Mine Safety Professional (CMSP) credential in the 1990s, the IAMSH-SME began the process of updating and relaunching the CMSP program. Among other work required to gain third-party accreditation both domestically and internationally, the IAMSH-SME has developed a new Body of Knowledge associated with mine safety and health management (Table 1)."

Jan 6, 2018

By L. M. Yokum

Tremendous strides have been made in front end loaders in the last fifteen years. Fifteen years ago a 2; cubic yard front end loader was the largest standard machine you could purchase. Today there are two commercially available 15 yard front end loaders and many 10 yard front end loaders. The estimated total worldwide market for all front end loaders over one cubic yard has increased to over 30,000 units yearly. The trend for front end loaders, in general, and for the mining market, in particular, is to larger and larger loaders. Today there are 18 cubic yard and a 24 cubic yard front end loader in prototype form. It is not inconceivable that within another fifteen years that there will be front end loaders in the 50 cubic yard class with design features quite different from today's. These larger loaders are being designed at the demand of the mining industry and the design criteria are being directed at this market area. The costs of these larger loaders will be greater per unit of capacity, and it is the intent of the various manufacturers that they will be more reliable, be easier to service, give greater availability, live longer, and cost less to maintain, than previous loaders. It is also the intent of the manufacturers to compete directly with the large mining shovel as the front end loaders become appropriately larger and more reliable. There has been some trend in this direction in the past with smaller shovels and loaders. In Figure No. 1 are data for U.S. production of front end loaders (5-6 cubic yard class and 10 cubic yard class) and U.S. production of cable operation, crawler mounted power shovels, draglines and cranes (1; to 5 cubic yard class) for the years 1965 and 1970. (Source: Bureau of Census, U.S. Department of Commerce.)

Jan 1, 1972

By Oren Tranbarger

The ability to sense or detect the coal/non-coal interface during mining can provide numerous advantages for improving net coal recovery and quality, for increasing productivity, and for mining coal which would otherwise be ignored. This is particularly true when considering multiple, pitching, and thin coal seams. This paper discusses the application of coal interface sensing and examines several potential coal interface sensing techniques with respect to state-of- the-art, design, performance, and cost criteria. Four interface boundaries are considered: the roof, the floor, the rib, and the forward region.

Jan 1, 1982

By V. C. Lo

The major cost in comminution is energy consumption, which can be as high as 50 percent of the operating cost. Improvements in plant operations have resulted in up to a 15-percent reduction in energy usage (kwh/t). These improvements have been made through optimization of grinding efficiency and use of expert model-based control systems. Optimization involves the determination of the levels of the critical operating conditions that result in the most efficient breakage of ore in the mill. These optimal levels are identified through plant/laboratory testwork and computer simulation using advanced process models. Model-based expert control achieves the maximum performance from the grinding circuit by identifying the characteristics of the ore in the mill with an optimal on-line estimator. Using this information, the control system dynamically determines the operating point that will yield the optimal performance. Two industrial applications of grinding circuit optimization and model-based control are presented to demonstrate the power of this new technology.

Jan 1, 1995

By J. P. Fitzgerald

This paper is an accumulation of information on the geology, mineralogy and mining of the Hectorite clay deposit owned by NL Chemicals (U.S.A.), Inc. The mine is located in San Bernardino County, California approximately 35 miles east of Barstow and 1-1/2 miles south of U.S. Highway 40. The region is known as the Mojave Block which is a region bound by the San Andreas fault zone to the southeast and the Garlock fault zone to the North. The faults of both zones are active, vertical faults along which movements are mainly horizontal. Most of the faults within the Mojave Block are high angle faults which trend northwest. They are considered part of the San Andreas fault system and are a result of the right- lateral movement characteristic of this system. The east-trending faults are also high angle faults, along which movement has displaced rock units vertically. Manix fault is the only mapped fault that shows evidence of left slip which is characteristic of the Garlock sys tem to the North.

Jan 1, 1986

By Alexander Sutulov

1. INTRODUCTION According to the classical economic approach of the open market economy, copper supply should be regulated by market forces which are (a) demand and (b) prices. In fact, demand is of primordial importance because prices are a reflection of supply-demand balance: they go up in times of shortages of supply and down when over-supply situation exists. In the past few years, this basic mechanism of market economy has been under pressure from a number of non-market forces, such as social and monetary problems of sane important copper producing countries; structural changes in copper mining companies through mergers with oil companies; and other factors which greatly contributed to distortion of the basic supply-¬demand equation. As a result, we have faced in the last three years a situation of oversupply rarely seen in the past, with a catastrophic fall in copper prices, huge losses at mines and unprecedented indebtedness of copper producers. This has deep repercussions in the copper business and its future supply outlook. This is particularly so when taking into consideration that high indebtedness and high interest rates conspire against the very survival of some traditional producers. As we write this comment (July of 1985), close to one half of U.S. copper production capacity is closed down, sane of it for good, while the same precarious situation exists in Canada, Australia, Zambia, and some other primary producers who cannot face present low prices with equally low costs. The question is then what this situation means for the medium-¬term future, until the end of this decade, Particularly when taking into consideration the fact that some of the factors influencing it are of a long-term character. 2. SUPPLY-DEMAND SITUATION IN THE LAST FIVE YEARS Since the last boon year, in 1979, when world copper consumption reached a record of 9.8 million metric tons of refined copper, demand dropped to only 9.0 million tons in 1982, when the crisis bottomed out, and then steadily recovered to the level of 9.7 million tons in 1984. Meanwhile, copper production, which in 1979 was only 9.4 million tons, in spite of the fall in demand, grew to 9.7 million tons in 1981 and 1983 and only temporarily was cut to 9.4 million tons in 1982 and to 9.5 million tons in 1984. As a result of this imbalance, hugh copper stocks were accumulated with supply systematically out¬growing demand by over 2 million tons at one time. With the Western World refined copper demand running at an average of 115,000 tons per week, this oversupply was equivalent to between 15 and 18 weeks production, i.e. twice as large as normal. This was immediately reflected in very low copper prices. Another contributing factor to relatively low copper prices was the lack of speculator interest for this commodity. Between 1981 and 1984 the world experienced a very intensive period of wealth distribution, high interest rates and intensive restructuring off world economy and its industrial sector. Therefore, much of the available money was attracted to more lucrative and attractive investments rather than to the lack-luster performance of copper, and for that matter, of the metal sector in general. The much announced and discussed recovery of the U.S. economy since 1983, and particularly in 1984, with an overall growth of the GNP by 6.8% in 1984, happened to be more oriented to the service sector than the industrial sector and therefore this recovery was not adequately reflected in copper consumption nor to metals in general. This put serious doubts about the future demand for copper. Consequently copper prices failed to improve in spite of an apparent fall in stocks and a healthy increase in the demand for copper since 1982. At the time of this writing (July, 1985), although same analysts claim that the available stocks are running at about 8 weeks of supply, which are considered to be below normal, copper prices are still very low at between 65 and 67 cents per pound of copper. Part of the answer may be the normal seasonal slow-down period in the Northern Hemisphere due to summer vacations and

Jan 1, 1986