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By Jian Yang

The mechanism of resulfurization in the desulfurization process with magnesium vapor produced in situ by aluminothermic reduction of magnesium oxide was clarified in the present work. The influences of various operating parameters on the resulfurization were studied and the methods that could prevent resulfurization were proposed. There are two kinds of mechanisms of resulfurization in the desulfurization process with magnesium. One is decomposition of the desulfurization product of MgS under the inert atmosphere. The other is oxidation of MgS under the oxidative atmosphere. Under the present experimental conditions, lowering operating temperature and oxygen partial pressure in the atmosphere could effectively prevent the resulfurization. Adding CaO onto the melt surface was an effective method for preventing the resulfurization due to transformation of the desulfurization product of MgS into the more stable compound of CaS. Since addition of the activated charcoal powders greatly decreased the transfer rate of oxygen in the atmosphere to the melt surface, it also reduced the resulfurization remarkably.

Jan 1, 2006

Overview ?G-9 Discovery Hole 420 drilled May 2005 ?14.16% Zn, 1.76% Cu ?Greenfield discovery built into the G-9 Mine in under 4 years. ?Utilized a unique ?Parallel Track? approach to fast-track mine development. ?Raised over $200million in financing without a Feasibility Study. ?Mine built for $149.7 million, only 20% over PEA. ?Commercial Production declared April 1, 2009. ?G-9 Mine has now completed the first year of commercial production on April 1, 2010. ?Initial cash costs per pound of zinc US$0.39/lb -US$0.45/lb range. ?Mill operating at over1,900 tpd in March 2010, well above design capacity (1,500tpd) only one year after starting commercial production. ?Balance Sheet -$167 million assets, $24 million long-term debt, $22 million cash. ?Restarted Exploration ?excellent initial results. ?Strategically positioning Farallon to grow to a mid-tier mining company.

May 1, 2010

By L. Flett, S. Woods, C. Deredin

"Following a significant reduction in world Imperial Smelting Furnace (ISF) capacity from 2003 to 2008, a major optimization initiative was successfully carried out on the lead upgrading and bulk (zinclead) flotation circuits in the Brunswick Concentrator.This paper describes the process improvements that have taken place in order to reduce the quantity of bulk concentrate:•,Increase in lead upgrading rougher flotation circuit capacity•,Installation of a closed-circuit bulk regrind utilizing MillPebs and 150 mm Cavex hydrocyclones•,Installation of two additional cleaner flotation stages on the bulk circuit•,Optimization of the manipulated variables in the lead upgrading and bulk circuitsINTRODUCTIONThe Brunswick Mine (Xstrata Zinc Canada) is located near Bathurst, New Brunswick and is one of the world’s largest lead/zinc mines. Milling of ore commenced in 1964 from the No. 12 orebody, with an expansion in 1966 to accommodate ore from the No. 6 open pit mine. The planned closure of the mine will take place at the end of the first quarter in 2013. The ore is a complex massive sulphide, consisting of approximately 20% valuable minerals, 60% pyrite and 20% silicates.A simplified flowsheet for the concentrator is given in Figure 1. The overall flowsheet involves SAG milling, secondary ball milling, selective flotation, and dewatering by thickening, filtering and drying. The complexity of the flowsheet evolves from the requirements for fine grinding and the production of four concentrates: zinc (sphalerite), lead (galena), copper (chalcopyrite) and bulk (sphalerite plus galena).Primary hydrocyclone overflow feeds the copper-lead aerator-roughers for flotation at pH 9.0 with soda ash. Plant xanthate (80-20 sodium isopropyl and potassium amyl) and AP407 are used as collectors in the copper-lead circuit. The rougher concentrate is directed to the copper-lead regrind circuit and the tailings are fed to the secondary grinding circuit. The secondary hydrocyclone overflow from the secondary grinding circuit feeds the copper-lead rougher-scavenger banks. Rougher concentrates are reground to a P80 of 28 µm prior to three stages of copper-lead cleaning. The first stage of cleaning is done in an open circuit with the tail reporting to the cleaner scavenger. The cleaner scavenger concentrate reports to the regrind circuit and the cleaner scavenger tail combines with the rougher/scavenger tail to feed the zinc circuit. The second and third stages of cleaning are performed in closed circuit with the cleaner tail being recycled to the copper-lead regrind circuit. The average final concentrate grades 23% Pb, 3% Cu and 704 g/t Ag, and is fed to the copper separation circuit."

Jan 1, 2013

By G. Bierie

The conveying of bulk materials is prone to problems. These problems can reduce the capacity and efficiency of the plant, and even threaten the health and safety of the workforce. This presentation will look at new conveyor technologies systems, and how, used separately or in combination, they can improve material handling.

Jan 1, 2007

By Andrew Port, Ali Ghandeharioon

Nonlinear seismic deformation analyses using the finite difference program FLAC were performed for a wastewater treatment plant to estimate foundation displacement and performance of two proposed trickling filters during the 2475-year event design earthquake. The effective stress based constitutive model UBCSAND, which captures the cyclic behavior of both the “sand-like” and “clay-like” materials, was used to model the dynamic response of the soil strata. Dynamic analyses of the site indicated that in absence of ground improvement or deep foundations beneath the proposed trickling filters, those structures would undergo horizontal displacements in excess of 1 m and short-term differential settlement gradient of about 400 mm over 50 m as a result of seismic and post-seismic settlements. Three mitigation options were considered for limiting the seismic displacements and differential settlement gradients of the proposed trickling filters. These alternatives include vibro-replacement stone columns, vibro-replacement stone columns plus supplementary cutter soil mixing (CSM) configurations, and pile foundations. Various layouts for each mitigation option were considered including the lateral extent of the ground improvement, CSM walls and pile spacing. Seismic horizontal and vertical displacements of the proposed structures as well as post-earthquake consolidation settlements due to dissipation of excess pore water pressures in soil layers were assessed in all the analysis alternatives. The analyses indicate that all the alternatives considered have the potential to provide a comparable level of seismic and post-seismic performance. However, for similar performance levels, the ground improvement options need to extend well beyond the edges of the proposed structures, while the piles can be limited to just beneath the footprint of the structures. INTRODUCTION Annacis Island Wastewater Treatment Plant (AIWWTP) is owned and operated by Greater Vancouver Sewerage and Drainage District and services a population of approximately 1 million people in Vancouver, British Columbia. Wastewater is generated by residential, commercial, and industrial sectors and the treated effluent is discharged to Annieville Channel of Fraser River on the south side of Annacis Island. AIWWTP is located on a 51-hectare site and was commissioned in 1975 as a primary treatment plant, but has had two major expansions to meet the population growth needs, and to improve the treatment process efficiency through the provision of secondary treatment of the liquid stream. The current expansion includes construction of additional solids contact tanks and secondary clarifiers. Future expansions include the construction of proposed additional trickling filters. New expansion structures are required to be designed for post-seismic operation after the 2475-year event design earthquake.

Jan 1, 2018

By Michel Aubertin

Les haldes à stériles contenant des minéraux sulfureux réactifs constituent un milieu favorable à la production du drainage minier acide (DMA). Au sein de ces haldes, les processus physiques, géochimiques et biologiques qui mènent à la production du DMA sont nombreux et complexes. Un des aspects critiques qui affecte la génération de DMA est la distribution et le mouvement de l?eau dans les roches stériles. La modélisation numérique est un outil qui permet de comprendre, pour éventuellement contrôler, les mouvements de l?eau (et donc réduire la production du DMA) dans les haldes pendant la période d?exploitation de la mine et à sa fermeture. Plusieurs simulations numériques des écoulements non saturés dans des haldes ont été effectuées. Pour ces simulations, on a considéré divers types de matériaux, diverses conditions atmosphériques et diverses configurations géométriques. Les simulations réalisées montrent que l?on peut contrôler les mouvements de l?eau en introduisant des couches de matériaux fins intercalées dans les haldes formées de matériaux grossiers. Des couches horizontales ne sont cependant pas appropriées puisqu?elles peuvent, dans certains cas, favoriser la création de zones humides susceptibles d?amplifier les effets du DMA. Une faible inclinaison des couches de matériaux fins vers l?extérieur permet de palier à ce problème. Les couches inclinées favorisent un drainage des haldes vers la périphérie. Ceci a pour effet de garder sèche une grande partie des stériles et de réduire, par le fait même, la production du DMA.

Nov 1, 2002

By Julie Shang, Tim Evans, Michael McDonald, Yu Guo, Bingfeng Xue

Effective chemical grouting represents a technical and economic solution to many challenges related to soil stabilization and blocking the flow of water. Chemical grouts are facing increasing demands in durability, environmental impact and value. To better meet these challenges, a novel and cost effective process was developed to produce a sodium silicate that increases the ratio (i.e. silica to alkali) beyond what has been used in traditional silicate-based grouts. The move to a lower sodium form of silicate was anticipated to have two desirable performance enhancements; a reduction in leachable sodium and improvement in the durability of the silicate grout. An in-depth study was performed at the University of Western Ontario Geotechnical Research Centre to quantify improvement in durability as well as other performance properties such as compressive strength. The study began by first modelling the gelation time and reaction kinetics of the high ratio sodium silicate over a range of silicate concentrations using two different setting agents as well as with/without a hardener. As expected, reducing the level of sodium produced a much more water resistant grout. These same formulations also showed a four order magnitude reduction in permeability. Somewhat surprising, test results showed the higher ratio silicate having much higher compressive strength. At the time of this abstract, the high ratio silicate was moving to the trial stage for geotechnical applications while the petroleum industry was further along with several successful field trials for water blocking as well as cement remediation. This paper will review the chemistry, testing and features of this next generation form of sodium silicate. Introduction Sodium silicate based grouts have been used for decades for soil stabilization and water control. Over the years, several silicate-based systems have been tailored for specific application conditions to maximize performance and reduce cost. Past research has also focused on the selection of setting agents and hardeners for silicate grouts. A constant in the development effort has been the grade of sodium silicate. The vast majority of chemical grouts have been formulated using a ~3.2 ratio sodium silicate. As a very brief overview on the meaning of “ratio” and why it is so important to performance properties. The ratio describes the proportion of sand to alkali or SiO2:Na2O used to make different grades of sodium silicate. Comparing a 2.2 ratio to a 3.2 ratio, it is easier to polymerize and set the 3.2 ratio. Upon setting and forming a silica gel, the system has higher compressive strength values and improved durability with a reduced level of syneresis (i.e. shrinkage). This leads to the question if 3.2 is better than 2.2 why not go to 4.2 or higher?

Jan 1, 2018

By Eun-young Kim

Electrogenerated chlorine leaching of waste printed circuit boards was investigated in hydrochloric acid solutions. The pulverized printed circuit board contained about 37.6% of metal component, in which copper was about 83.6%. The leaching rate of copper was greatly affected by current density and agitation speed. The leaching of copper up to 98% was achieved at 20 mA/cm2, 50?, 180 minutes, and 600 rpm in 1M HCl solution. Increasing agitation and lowering current density enhanced utilization efficiency of electrogenerated chlorine. Leaching of copper was suppressed at initial stage, while the minor metal elements, such as aluminum, lead, and tin, were dominantly leached out.

Jan 1, 2006

By W. J. González

"With the increasing demand for minerals, technologies to maximize mineral recovery are paramount to a mine’s economic success. Many mining process waters have the potential to form calcium-based inorganic scales, which inhibit effective mineral recovery. Often, the solution to inhibit these deposits is the implementation of a chemical antiscalant program. This paper examines the application of a fouling analyzer to continuously monitor the formation of inorganic scale in mining process streams. The fouling data can be used to compare antiscalant programs and to optimize antiscalant feedrates. Case studies validate the ability of this technology to help optimize mineral recovery processes.INTRODUCTION The mining industry uses significant quantities of water. From quarrying, to crushing, to flotation, leaching, and refining, water is often the integral motive force to move slurries, separate or agglomerate fines, and extract and purify minerals. As well, water is used in a number of ancillary applications at mines, including dust suppression, gas scrubbing, and utility processes such as boiler, cooling, and waste water operations. For many processes, the quality of water being used is inconsequential. However, for certain processes, such as flotation, leaching, and desorption / stripping, water quality plays a key role in the ability of the operation to economically recover the target minerals. Dissolved solids such as calcium and magnesium salts can concentrate in process waters, exceed their solubility limits, and precipitate as scale on metal surfaces such as feed and transfer pumps, piping, and equipment. Some of the more common scales that form in mining operations include calcium carbonate (CaCO3, or calcite) and calcium sulfate (CaSO4, or gypsum), and to a lesser extent, calcium and magnesium silicate compounds. Any scale that deposits in a process stream will negatively impact mineral recovery, and increase the operational costs of the mine site. Whether it is acid washing a scaled heat exchanger in a carbon strip at a gold operation, replacing plugged emitter tubes in a leaching operation, or hydroblasting process lines in a scrubber unit, there are costs associated with labor, cleaning chemicals, repairs, and replacement parts. These costs pale in comparison to the potential costs of downtime and lost production, should the scale deposits occur in a process that is critical to the recovery of the target mineral."

Jan 1, 2014

1. Scope of project In South Australia, the Western Mining Corporation operates the underground copper and uranium mine Olympic Dam. The deposits concerned are enormous (approx. 570 million tons) and have been mined since 1988. At the end of 1996, Western Mining decided to increase the capacity of Olympic Dam from 85,000 t.p.a. to 200,000 t.p.a. Planning At this point, SIEMAG-GHH Mining Division was asked to carry out a study including the planning of the entire shaft hoisting operations and calculation of the investment and operating costs involved. With the assistance of Australian partners, the study was completed within a single month. The principal points of the study were as follows: ? Planning of the hoisting machinery for 1,375 tons per hour from the surge bin below ground to the discharge bunker above ground. ? Optimisation of the hoisting operation with regard to maximum availability and safety. ? Optimisation of the time schedule to minimise the financing costs of the investment. ? Statement of the investment and operating costs. ? Comparison of the technical data, design and availability of the planned machinery with reference plants. Construction of the plant Following acceptance of the study, the decision was taken within a few weeks to implement it. SIEMAG Transplan GmbH received the order to execute the entire shaft hoisting machinery on the basis of the study submitted. The decisive factors in placing the order were: ? Convincing study, adherence to schedule ? Reference to comparable plants elsewhere ? Reference with regard to availability.

May 1, 2003

By J. W. Bridge

Triaxial compression tests at various confining pressures and temperatures, as well as tangent modulus tests using ultrasonic waves, were conducted for wax-coated granular composite materials. The material used is a surface for Thoroughbred horse racing. The purpose of these tests is to examine how track shear strength and tangent modulus at a range of loads respond to changing temperatures. Previous work has shown that a wide range of operational temperatures are experienced which have been reproduced in the lab. Using differential scanning calorimetry, it is confirmed that these operational temperatures correspond to distinct thermal transition regions for the wax that is used to coat the sand in these surfaces. Preliminary results show that both shear strength and tangent modulus are sensitive to temperature changes with maximum strength and modulus correlating with major DSC wax transition regions.

Jan 1, 2010

By M. A. Trevits, J. E. Urosek, A. C. Smith, M. P. Valoski

The National Institute for Occupational Safety and Health (NIOSH), in partnership with the Mine Safety and Health Administration (MSHA), is conducting research to test, evaluate, improve or modify coal mine fire-fighting strategies and methodologies through large-scale tests. Since wood is the second most abundant fuel available during a coal mine fire, it was decided that series of large-scale wood crib fire tests were needed to measure the products of combustion and to observe the capability of commonly available direct application fire suppression equipment, namely, fire extinguishers, water and gas-enhanced foam. This paper discusses the wood crib fire tests, provides insight into the products of combustion and describes observations made during the application of the fire suppression agents.

By Brijes Mishra

This paper presents a correlation of acoustic emission (A.E.) with physical and mechanical properties of different types of rock and coal specimens which were tested under aegis of a consultancy project from a Columbian Mining Company. In this study, three types of rocks which are sandstone (Arneisca), siltstone (Arciolita) and claystone (Limolita) and two different types of coal were tested. The tests were carried out under constant loading rates according to ASTM Standards for determining Young?s Modulus and Poisson?s Ratio. In both cases a MTS electro-hydraulic loading system was used. Mode of failure in each material was characterized by the acoustic emission and the results were substantiated by the deformation characteristics of the materials during failure.

Jan 1, 2006

By Geoffrey C. Hebner

Augered, cast-in-place piles (ACIP) have become a very common foundation type in Atlanta and the Southern Piedmont Province as well as much of the United States in the past 20 years. Prior to the introduction of ACIP foundations in Atlanta, the most common deep foundation type was Raymond piles. Raymond piles are basically a driven, thin-walled step-tapered steel pile filled with concrete. Drilled piers were also relatively common and continue to be used, particularly in shallow bedrock or high column load situations. Driven piles, including pipes, H-sections, and timber piles were previously common with working loads typically in the 30 to 50-ton range. Initially, ACIP foundations had similar allowable capacities, however, over time improvements in installation techniques and equipment have resulted in an increase in allowable ACIP capacities. Correspondingly, they have become a more cost-effective and trusted foundation for geotechnical and structural engineers. Over the next several decades many other deep foundation alternatives began to lose popularity. ACIP are one of the predominant deep foundations in Atlanta and the Southern Piedmont today. Although ACIP foundations have widespread popularity in the private sector, they have not been readily accepted currently by government transportation agencies. ACIP may be used by some of the smaller municipalities, but to the author's knowledge, have not been used with regularity by larger, state agencies.

Jan 1, 2003

The National Institute for Occupational Safety and Health (NIOSH) conducted a monitoring field study to optimize the rib control plan in a room-and-pillar coal mine. The study mine is located in the Central Appalachia coal basin. Two monitoring sites were selected at different sections in the study mine. The selected sites have different overburden depths and geologies. The instrumentation plans at study sites include borehole pressure cells installed at various depths in studied pillars, rib and roof extensometers and load cells mounted on number of the rib bolts. The instrumentation results and observed geology for one of the study sites showed great potential for optimizing the rib bolt plan at that section of the mine. Therefore, a rib support optimization study was followed using numerical modeling technique. A calibrated threedimensional model was developed using the instrumentation results of the optimization section. The calibrated model was used to determine the optimum rib support for expected overburden depths and rib heights. Baseline rib bolt patterns were assumed for the optimization study. Additional rib bolts, above and beyond the baseline bolting parameters, were outlined and identified as solutions to contain the rib fracturing identified by the modeling results.

Jul 28, 2020

By Holmes R. J, Miles J. G

An on-stream shale detector has been developed that is suitable for use on conveyor belts carrying iron ore of up to 200 mm particle size. The shale is distinguished from high-grade iron ore by means of the substantially greater total natural gamma-ray activity (400-3000 keV) of the shale, which is due to the presence of uranium (214Bi), thorium (208TI) and potassium (40K). Other gangue materials, sueh as highly siliceous cherts and jaspilites, escape detection because of their low activity. A dynamic trial of the shale detector at Mt Whaleback, using a large-volume (100 × 100 400 mm long) "Polyscin" Nal(TI) gamma-ray detector, demonstrated that as little as 20 tonne of ore on a conveyor belt (equivalent to partial truckloads of ore) can readily be monitored for shale content.

Jan 1, 1981

By A Bouazza, J Kodikara

In this study, 23 samples of leached ash (LA) were collected from an ash pond at Loy Yang Power Station and geotechnically characterised. The samples were collected at various depths and locations within the ash pond on two separate occasions in order to account for the full variability. The LA within the ash pond at Loy Yang Power Station (LYPS) was found to vary in texture from silt to sand, depending on the location from where the sample was collected. Samples collected near the ash pond inlet discharge point, for instance, contained more than 50 per cent sand sized particles and were subsequently classified under the Unified Soil Classification System (USCS) as silty sand (SM). Further downstream of the inlet discharge, the LA became progressively finer and was classified accordingly as elastic silt (MH) when the sand content became less than 50 per cent. Basic geotechnical testing revealed that the LA from Loy Yang Power Station was generally acceptable as a landfill cover material. The permeability of LA, however, was generally too high for prescriptive covers, (ie resistive covers that generally rely on the impervious nature of the material to control percolation). Alternative covers, generally rely on the store/release function of a capillary or monolithic barrier to prevent percolation into the landfill. Subsequently, a material that can maintain a high water storage capacity while at the same time, readily allow infiltration and evapotranspiration is required for an alternative cover. Sandy silt and silty sand are optimal soils for alternative covers, as they do not yield water to gravity forces, but do give up most of the water in their pores when subjected to high-matric suction (Kavazanjian, 2001). The effectiveness of alternative covers is ultimately assessed using computer models, such as UNSAT-H and HYDRUS-2D, to rigorously perform water balance calculations. Prior to using a computer model to determine the highest possible percolation in the worst climatic conditions, it is necessary to select the most appropriate materials. This paper suggests a method to screen available materials for use as an alternative cover material on the basis of the soil water characteristic curve (SWCC).

Jan 1, 2003

An understanding of the origin of mineral deposits and their relationship to local and global geotectonics is essential if regional targets for mineral exploration are to be chosen. Volcanism, metamorphism and tectonism are especially significant for the origin and emplacement of mineral deposits, which, far from being fortuitous oddities of nature, occupy well defined positions within distinctive lithofacies. Thus, suggestions for mineral exploration targets can be made taking into consideration the position of 'fossil' convergent and divergent plate tectonic boundaries to indicate areas of specific types of mineralisation. To be borne in mind, though, that level of exposure, time and location of magma generation are all additional and important controlling factors. To further understand the importance of the above parameters, one must refer to the concept of paired metamorphic belts (Miyashiro 1973) which develop during an orognic cycle. These belts are generally constructed in such a way that an ophiolite type complex with metamorphic grades related to high pressure and moderate temperature regimes is flanked by an area of calc-alkaline volcanism and granitic activity with metamorphic grades within a region of high temperature and low pressure. The former situation is usually the seat of primary magmatic mineralisation, whereas the latter contains base metal. Deposits of acid plutonic and volcanic association. As will be seen later, this particular metamorphic-volcano-orogenic situation is well developed in some parts of New Zealand. For the present purpose a distribution of potential ores as related to plate tectonic processes is given below:a) Divergent plate boundaries: primary magmatic Ni-Cu, Pt,Cr, PeS2 and Cu, Pb,Zn in hot brines-hydrothermal environments Mn deposits.b) Convergent plate boundaries: stratabound Cu-Fb-Zn-Ag of felsic volcanogenic association. Porphyry eu-Au of island arc type, porphyry Cu-Mo of continental type. Cu, Au, Y, Sn, Hg, Sb of vein type and replacement lode related to granitic activity.c) Au of hydrothermal vein association, related to late dynamo-metamorphic events. By virtue of ocean floor spreading, regions of divergent plate boundaries are eventually juxtaposed or welded n to areas where plate collisions occur. This is then followed by partial melting due to various causes, just above the descending plate; thus creating a zone of acid to intermediate magmatism. The final picture is that of an orogenic zone with the paired metamorphic belts outlined above.

Jan 1, 1976

By Simon D. Strauss

This article is part of a presentation Strauss made Dec. 3, 1988 at the sixth annual American Mining Hall of Fame (AMHofF) banquet in Tucson, AZ. At the banquet, the Mining Club of the Southwest honored Strauss by naming him the 1988 recipient to the AMHofF. (Industry newswatch, page 6). Introduction In the last two decades, there have been two previous periods of sharply rising copper prices. One was in 1973-74; the other in 1979-80. In both cases, a short period of high copper prices was followed by steep and prolonged periods of low prices. In the language of the market analyst, the high prices were called spikes. Is it likely, then, that three or four years from now the present price of copper will show up as a spike in the charts? There are substantial differences between the current position and the markets of 1973-74 and 1979-80. In 1973-74, US copper prices were subject to government-imposed price ceilings of $0.60 per lb through early December, 1973. These were increased to $0.68 per lb through May, 1974. Meanwhile, mines outside the United States were free of restraint. Rising demand in London pushed the price above $1 per lb in the third quarter of 1973. In early April 1974, it reached a peak of $1.50 a lb. In May of that year, the US ceilings were removed and the domestic price began to rise. What were the causes of this price strength? While ceilings held the domestic price below the world market, domestic consumers acquired all the tonnage offered by US mines. Meanwhile, in the world market, buyers feared prolonged shortages. The Club of Rome had warned that world economic growth would be limited by impending depletion of mineral resources. There was al so concern about a copper cartel that might increase copper prices even more. In early 1974, at a special United Nations session, developing-country spokesmen warned the industrialized world to expect high commodity prices. Also adding to the concerns of copper buyers was the fear that when US wage contracts expired in mid-1974, protracted strikes might ensue. The combined effect of this atmosphere was that consumers accumulated large amounts of copper, far above their normal carry. By midsummer, the position changed radically. While some strikes did occur in the United States, they proved short-lived. The most significant development was a massive economic recession. The energy crisis was causing enormous dislocations in the world economy. Construction activities were sharply reduced and automobile sales plummeted. Public confidence was shaken. Copper sales fell precipitately as consumers decided to draw down their swollen inventories. The price came down too. In April 1974, the London price- as noted-was $1.50 per lb. By the end of the year, it was down to $0.57 per lb. In 1973-74, the copper price rise was fed by fears of shortages, cartels, and strikes. In 1979-80, the market rose on the strength of good demand plus political and military instability. The price rise was also fed by inflationary trends, exemplified by speculation in precious metals. Prior to this second spike in copper prices, the market had been depressed despite economic recovery. Despite reduced US output, copper production in the rest of the world was increasing. Though consumption was rising, surplus stocks reached unprecedented levels. At the end of 1977, the aggregate of stocks at the refineries and in the exchange warehouses was 1.5 Mt (1.67 million st). That was more than three months' shipments at then rates of consumption. In 1978, the statistical position improved. Shipments of refined copper that year were 8% greater than in 1977. The result was reduced visible stocks but -just as was to be the case in 1984-86 - the price remained depressed. In 1979, an even sharper drop in visible stocks occurred as shipments rose by another 4%. This time, though, the price responded. In December 1978, the price in current dollars had been less than $0.70 per lb. By the end of 1979, it was above $1 per lb. And in the first quarter of 1980, it averaged more than $1.20 per lb. Military and political developments were a factor. The hostage crisis in Iran was followed by the Soviet invasion of Afghanistan. To many, it appeared that war might result if the Soviets pushed on into Pakistan. At the same time, speculation drove gold and silver prices to incredible levels. As silver prices rose above $40 per oz), copper above $1 per lb did not seem unreasonable. Then, in March 1980, the precious metals price boom collapsed. Copper prices also retreated, though not as much. In February 1980, the copperprice averaged $1.32 per lb. By December, it had dropped to $0.85 per lb. In 1981 and 1982, the decline continued. The present copper situation Why is the current situation different from these two previous episodes of high prices? First of all, today's inventories are far lower than they were in either 1974 or 1980, when the price declines began. The stocks at refineries and in exchange warehouses are substantially less than they were then. More significantly, consumers today have very limited holdings compared with stocks they carried in 1974 and 1980. Even if faced with a downturn in their own business, copper consumers will not be able to stay out of the market. To the extent they have any business at all, they will have to buy copper. And on the supply side, there is also a significant difference. The year 1988 has been unusual. US production is up sharply, responding to higher prices. But production is little changed in the rest of the Free World. Indeed, several of the major producing countries have mined less copper this year than in 1987 despite the prices increases. Peru has had labor problems that have cut its output. Zambia and Zaire suffer from shortages of expatriate technicians, not to mention spare parts. They also suffer from the failure to maintain equipment or perform adequate development. In Chile, the two largest mines, Chuquicamata and El Teniente, have not met their production targets. Chuquicamata is struggling with high arsenic content in its ore. And, in late 1987, severe rockbursts hampered operations at El Teniente. In addition, depletion of some mines in Australia and South Africa has offset rising output at other properties. Indeed, when final mine output figures for 1988 become available, it may well be

Jan 1, 1989

By R. J. C. MacDonald

"The first recorded discovery of placer gold in Canada was on the Chaudiere River in Quebec's eastern townships in 1832 and the first major production came from placer deposits in British Columbia in 1858 (Verity 1974). Placer deposits were the major source of gold until the late 1890's, although lode deposits were found in Nova Scotia in 1862. In 1896 the Klondike Gold Rush commenced with the discovery of gold by Henderson and Carmack in the Yukon. The peak was reached in 1900 when over one million ounces of gold valued at approximately $22.3 million were recovered. With the exhaustion of the easily accessible deposits, more capital intensive operations were necessary such as those initiated in 1906 by the Yukon Gold Corporation. This giant dredging operation continued to produce until 1966. Today only a few small operations remain.The development of Canadian lode gold mining began in earnest around 1900 when the railroads were opening up the interior and western part of the country. At this time many discoveries occurred, particularly where mineral outcroppings were near surface. Tremendous impetus for exploration and the reopening of former producers followed the elimination of the gold standard by Great Britain around 1931, and more importantly the United States in 1933, with subsequent stabilization of the price of gold at $35 per ounce in 1934. Prior to this the price of gold was basically unchanged since 1717, approximately, $20 per ounce (Verity, 1974; Green, 1973).The depression of the 1930s adversely affected most industries, however for the gold producers it was a very profitable time. Prices of materials and equipment declined and labour was cheap and plentiful. Interest in gold mining was further stimulated in 1936 when a three year tax exemption was declared for all new metal mines. In 1938 a decline in the value of the Canadian dollar relative to the U.S. dollar benefitted the industry. The second world war provided yet again further incentive for gold production and in 1941 Canadian gold production reached a high of approximately 5.4 million ounces. This figure was not surpassed until 1991 when approximately 5.6 million ounces were produced (Natural Resources Canada, 1996 )."

Jan 1, 1998