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By Erling Stranden, Leiv Berteig

INTRODUCTION The measurement of the total activity of radon daughters in the air of mines has become a routine procedure in order to control the radiation exposure in miners due to the inhalation of these radionuclides. Normally the measured concentration is given in terms of total potential L-energy of the short lived radon daughters. The unit most frequently used is 1 WL (working level), which is defined as the potential a-energy of 1.3.105 MeV per 1 of air. The a-dose to the respiratory tract is, however, not proportional to the inhaled potential a-energy. In addition, the degree of equilibrium between the daughter products in air and the fraction of daughter products not attached to aerosol particles (the unattached fraction) must be known. Theoretical calculations of the equilibrium between daughters and the unattached fraction have been presented by different authors (Jacobi, 1972; Porstendörfer et al, 1978). Such calculations must take into account the plateout of daughters on surfaces, the attachment of daughters to aerosols and removal of daughters by the ventilation. The situation in mines will however be very complex and no single model will cover all situations. In most cases the radon and radon daughter concentrations will be described by a combination of different models. Domanski (1979) used the experimental results of Breslin et al. (1969) from uranium mines to relate the equilibrium between the individual daughters to the equilibrium factor, F. Once the equilibrium factor is known, this seems to be a useful approach to assess the individual daughter concentrations. The concentrations of radon and daughter products may vary considerably during the day. Seasonal variations are also frequently found. It is therefore important to have knowledge of the magnitude of these variations and of the factors having the strongest influence upon the concentrations. The unattached fraction of radon daughters in uranium mines was investigated by George and Hinchliffe (1972) and Raghavayya and Jones (1974). Mercer (1975) later modified the results of Raghavayya and Jones. Both these investigations indicated that the aerosol particle concentrations was the main influencing factor upon the unattached fraction. In this paper we will summarize the main results of a study on the radiological characterics of nonuranium mines. We will also discuss the correlations between the unattached fraction of the potential a-energy and the unattached fraction of the individual daughters, and between the equilibrium factor F, and the individual daughter ratios. More detailed discussions of this study will be published elsewhere (Stranden and Berteig, 1981 and Stranden and Berteig 1981 a). MATERIAL AND METHODS During 4 two-weeks periods corresponding to the seasons in the Norwegian mine where the highest radon daughter concentrations occure, the parameters listed in table 1 were studied. TABLE 1 Parameters measured during the study [Parameter Methods Radon Scintillation flask/Continuous ionization chamber Radon daughters Tsivoglou(1953)/Kusnetz(1956) Respirable dust Cyclone Unattached fraction Wire screen (Stranden and Berteig 1981) Atmospheric pressure Continuous baragraph Temperature and Continuous thermohygrograph humidity] At a fixed location, the radon concentration was measured continuously by a ionization chamber (Stranden, 1981), during these two-weeks periods in order to study short-time and seasonal variations. RESULTS Correlation between equilibrium factor and individual daughter ratios. The mean value of the equilibrium factor in all Norwegian mines measured during the last ten years was 0.46 with a minimum of 0.08 and maximum of 0.93 (Stranden and Berteig, 1981). The correlations between the equilibrium factor F, and the individual radon daughter/radon ratios were studied and the results indicated high correlations. In table 2, these correlation formulae are listed together with the correlation coefficients. TABLE 2 Correlation between the equilibrium factor, F, and individual radon daughter ratios [Formula Correlation coefficient RaA/Rn = 1.14 F 0.551 0.76 RaB/Rn = 1.00 F 0.940 0.99 RaC/Rn = 0.77 F 1.120 0.92]

Jan 1, 1981

By James R. Arnold

Gold Fields Mining Corporation started processing ore from it's Chimney Creek operation in northern Nevada in November, 1987. Since that time production has averaged about 200,000 ounces per year from the milling and dump leaching circuits combined. The events that led up to commissioning of the plant started in January of 1985 when the Gold Fields exploration team drilled their first hole in an area now known as Discovery Hill. The major orebody was located later in the year in what is currently the major focus of activity, the North Pit. Subsequent drilling since plant startup has found another 14 million tons of ore two miles south of the original orebody. This South Pit orebody is currently being stripped and metallurgical testing is underway. Engineering Engineering on the Chimney Creek plant started in earnest in May, 1986. Davy McKee Corporation from San Ramon, California, did both the engineering and the construction management. Before engineering began the entire senior staff of the Plant Department was hired and assigned to the project. Senior staff included the Plant Superintendent, Plant General Foreman, Maintenance General Foreman and Chief Metallurgist. Gold Fields does not employ an internal central engineering staff to design their plants. We feel that the people who design the plant should be the ones who will be required to run it once it has been commissioned. This philosophy affords a continuous accountability from start of design through commissioning and operations. All four of the senior staff spent the most critical phase of the engineering stage at Davy McKee, so the plant is truly a reflection of all four disciplines. In bringing on the Maintenance General Foreman from the start, there was a focus placed on ease of maintaining the plant. Another philosophy that was adopted from the start was that the plant be easy to work in and maintain for both operators and maintenance personnel. Numerous design criteria were given to Davy McKee to ensure this. For example, we required that every piece of equipment could be reached easily with a crane or fork lift. All conveyors were required to have walkways on both sides for ease of maintenance and a minimum of 30 inches of clearance under them for ease of cleanup. Visibility for operators was considered very important and the control rooms and general plant layout were designed with this in mind. A list of about 100 general rules were given to Davy McKee during the early layout meetings and these were held as the general design criteria throughout engineering and construction. While engineering was progressing in San Ramon, California, dump leach test work was being done at the site. Three 6 foot diameter fiberglass columns were constructed and filled to a 20 foot height with low grade ore. Leaching characteristics were determined and the dump leach design was based on information collected from these columns. Construction The major contractors on the project were The Industrial Company for the bulk of the piping and structural, EMKO on the electrical/ instrumentation and Hunewill for most of the earth work and leach pad construction. All plant operating and maintenance personnel were employed eight weeks before startup for intensive training. Instructors were Gold Fields personnel, including foremen, and Davy McKee engineers. On occasion, selected suppliers representatives were brought in to discuss major pieces of equipment. Project completion was targeted for January, 1988 at a projected cost of 78.9 million dollars. Actual startup was about 1 1/2 months ahead of schedule and slightly under budget. Full design capacity was achieved the first full month of operation. Crushing Run of mine ore is delivered to the crusher and dumped into a 90 ton hopper which is topped with a 30" X 30" opening stationary grizzly. Ore is fed to a 50" X 60" Telsmith jaw crusher with a 5' wide apron feeder. The closed size setting of the

Jan 1, 1989

By G. Sciocchetti, G. F. Clemente, F. Scacco

INTRODUCTION Radon, thoron and their airborne daughter products may result in a significant biological hazard when they are concentrated in enclosed places such as mines, houses and caves. High concentrations of radon and its particulate daughter have long, been known to be a causative agent for lung cancer to uranium miner: (Archer 1973). More recently increasing concern has been expressed on the possible health hazards associated with long term exposures over large population groups to low levels of radon daughters (Cohen 1980, Stranden 1980). Due to its peculiar geological features, Italy has various natural environments where the content of uranium and thorium in the soil may increase underground radioactivity. The presence in Italy of many underground waters rich in radon may be considered a further important source of radon in underground mines. A preliminary survey of the radon and radon daughter air concentrations in italian underground mines was started in 1971 (Bottino 1973). Furthermore many studies (Sciocchetti 1978, Sciocchetti 1980, Clemente 1980) have been performed during the last ten year to characterize the natural radiation environment in Italy. It has been also demonstrated that 21OPb/21OPo skeletal burden in spa workers and non-uranium miners can be heavily increased by the exposure (short or/and prolonged) to high levels of radon daughter air concentration (Clemente 1980). All these studies have been of great help to put in the right prospective the radiation hazards linked to the underground working activity in non-uranium italian mines. Two main actions have been prosecuted from 1971 until today in order to evaluate in greater detail such radiation hazards and then, when needed, to obtain their reduction to levels which may be considered acceptable. The two actions may schematically described as the following: - Measurement of the radon and daughter (and thoron and daughter when needed) concentrations in most of the italian non-uranium mines. The assessment of the radiation hazards linked to both the annual average lung exposure and the 210 Pb - 210 Po annual average dose to the skeleton is then performed for each considered mine by taking into account the main parameters characteristic of the mine. - Set up of a national regulatory recommendation on the permissible limits for the radiation exposure of workers due to underground mining activity. Such recommendation have been established in 1978 and have been designed in order to implement a national radiation protection practice during the underground mining activity. In this paper a summary description of the results obtained during the execution of these two actions will be given. MATERIAL AND METHODS Measurement of Radon, Thoron and their Daughter Products The excution of the planned survey requires the availability of specific techniques and instruments for measuring the different parameters characterizing the radon, thoron and their daughter exposure in mines. A reference laboratory was set up for the development and the standardization of the measurement procedures. Measurements of radon, thoron and daughter concentrations are performed by various methods: instanteneous or grab sampling methods and continuous read out monitors. The radon concentration is usually measured by a modified version of the two filter method. Mine air is drawn into a polyethylene bag and the sample is there after injected into a two filter tube; after sampling the exit filter is counted by the alpha spectrometric technique. The measurements is completed in a total time of less than 25 minutes at a sensitivity level as low as 3.7 Bq/m3 for a tube volume of 15 1. The measurement of radon and thoron daughter concentration and of the relevant potential alpha energy concentration is performed by means of a portable spectrometric apparatus which was developed at our laboratory (Sciocchetti 1981). The device allows multiple operating modes: instantaneous or brief sampling period and automatic cycles; computer data processing is then provided. The instruments that measure continuously radon concentration over long periods of time are of two types: a continuous scintillation monitor and an automated two filter

Jan 1, 1981

By William S. Pintz, William A. Vogely, Charles J. Johnson

This chapter on the role of minerals in developing economies is oriented toward economic policy issues. The discussion and analysis cut across the technical, economic, legal, and policy fields. The goal of this chapter is to pro- vide relevant background information important to individuals involved with the minerals sector in developing countries. Where possible, trends are shown to provide a basis for understanding the evolving role of minerals in developing economies. This chapter is divided into the following five sections: (1) characteristics of developing countries (which presents selected statistical comparisons); (2) government objectives in developing countries; (3) government policy formulation in developing countries; (4) determinants of future trends, and (5) a summary of the chapter's major points combined with the authors' view. CHARACTERISTICS OF DEVELOPING COUNTRIES There are 155 nations in the world categorized as "developing countries." In total these nations represent about one third of the value of the world's mineral production, three quarters of the world's population, and over half of the world's land surface area. The group of so-called developing countries is quite diverse and there are exceptions to almost any general observation about the group as a whole. Most definitions of the term "developing country" are based on levels of per capita income. However, if per capita income is the sole criterion used in categorization, then several oil-exporting countries would jump from the category of developing country to the category of developed country.a Obviously, this results in a poor fit with respect to other measures. In general, the majority of developing countries can be characterized by relatively low per capita income, high population growth rates, high levels of unemployment, low levels of education, short average life ex- pectancies, income distribution skewed toward the highest 20% of the population, and a large share of exports represented by primary commodities. b For the purposes of this chapter a slightly modified version of the widely used World Bank system of classification (shown in Table 1.2.1) is used. As summarized in Table 1.2.1, developing countries are divided into three main groups based on estimated gross national product (GNP) per capita. It should be noted that the high- income, oil-exporting countries have characteristics of both developing and industrialized countries; however they are included for most statistical comparisons within the group of developing countries. Of the 155 developing countries in the world, approximately half produce minerals other than common building materials, and only 32 account for more than five percent of world pro-

Jan 1, 1985

By Benno Ring

"When designing segmental lining at a cross passage, modern solutions try to bear the loads transferred around the opening within the rings by using shear elements in the ring joints. Commonly used shear systems providing coupling are cam & pocket, shear keys, bicones and steel dowels. These solutions have advantages and disadvantages, but most importantly they have limits in their capacity to stabilize the lining at cross passages. With the help of 3D-FE-analyses for an opening of one segmental ring these different solutions are compared taking various ground conditions into account. As a result the capacity of the individual system is determined. Notice is made regarding the applicability of the system as well as the consequences for the design and the verification. INTRODUCTION The design of the lining at a cross passage is among the most difficult tasks when designing TBM-tunnels. At one time the bedding of the lining disappears due to the excavation behind the lining, at another the ring-structure is interrupted when parts of the lining are removed for the opening. The trick is to transfer the loads around the opening into other segments and to areas of the lining which are still supported by the ground. In the rings immediately at the cross passage this creates a distribution of forces within the segments that strongly deviates from that of the regular lining. The design needs to consider the boundary conditions of the respectively chosen solution for stiffening of the opening and its peculiarities in the modeling as well as in the verifications. In the past segments of steel or an internal strutting of steel (DAUB 2013) placed around the later openings were commonly used, see Figure 1. The application of a strutting from the outside to the rings is restricted to such circumstances when for example a connection from a shaft to the tunnel can be made in suitable ground conditions (Ring and Glomp 2012). Though steel segments provide a robust solution, they are expensive due to their laborious manufacture, the high proportion of construction steel required and the time consuming installation in the tunnel (Häfliger 2013). A strutting of steel requires extensive design and verification. The resulting structure usually weighs several tons and must be erected as well as demounted within the confined space of the tunnel, requiring suitable transport and assembly equipment. The cross section remains restricted, thus causing a bottleneck for TBM operations and hindering the works and installations for the cross passage works."

Jan 1, 2016

By C. J. Johnson, C. J. Bise

Introduction Coal extraction by continuous miners (CM) is currently the most common underground method in the US industry and accounts for slightly more than two-thirds of the nation's deep mining production (National Coal Association, 1987). Even if longwall mining should become more commonplace, it can proceed only after ventilation and access entries have been driven by CMs. Since an area of concern continues to be the effects of the dust generated on the health of mineworkers, this paper discusses the relationship between the elemental compositon of mining-generated airborne dust sampled from the immediate ventilation return of a CM and laboratory-generated dust derived from channel samples taken from the mines. There are several potential contributions of this type of study to the coal mining industry. First, after more fundamental knowledge of the causes of Coal Worker's Pneumoconiosis (CWP) is learned, the laboratory-generated respirable dust could be used to identify a potentially hazardous coal seam. Also, this study could possibly aid in understanding the fundamental causes of CWP by producing mining-simulated samples of coal dust that could be used in epidemiological studies. Further, assuming that there is no difference in the elemental composition of a drill-core sample and a channel sample from the same location, a mining company could predict a new mine's respirable dust elemental composition in the immediate ventilation return by using exploratory drill core samples of the roof, coal, and floor rock to prepare the laboratory dust. Ventilation engineers could then use engineering design and control measures during premine planning to reduce the incidence and severity of CWP by better ventilating the potentially hazardous coal seam. If this proper planning prevented any future changes to the ventilation equipment and mine design, much time and money could be saved. Scope of work To investigate the variability of the chemical characteris tics of respirable dust, airborne dust samples from eight underground coal mines located in the eastern and midwestern United States were collected with eight-stage Sierra Model 298 Marple cascade impactors, as well as 25 channel samples of mined material. Each channel sample was removed from the middle of the coal face before mining occurred. Sampling of the mining-generated dust was conducted by Lee (1986) by sampling the entire working sections, primarily for characterization purposes, to obtain information on the locational variability of dust characteristics. Research performed for this study used the elemental analyses of the mining-generated dusts he sampled in the immediate ventilation returns of CMs. The procedure that was used to produce the laboratory-generated respirable dust was based on the Hardgrove grindability test since it reflects the pulverizing characteristics of coal. This test was chosen for several additional reasons. First, it is repeatable and reproducible. A consistent amount of input energy is used as well as a specified size range of feed material to be crushed (the channel samples). Second, it is thought to generate secondary dust in a way similar to that of the crushing and grinding of the coal and rock as they pass through the arc-shaped cutting path of the CM's cutter head. The potential effect on dust generation by this secondary grinding mechanism may be at least as much as that produced by primary fragmentation, which is dust produced by the cutting action of the bit against the coal or rock (Roepke, 1984). Finally, the Hardgrove grindability test is well known and is used in the coal industry to guide mineral processing engineers in estimating the capacity of mills used to grind coal. One hypothesis of dust researchers in the Generic Technology Center for Respirable Dust is that the elemental as well as the physical characteristics of coal mine dust will make a difference in the incidence and severity of CWP. Coal mine dust is generated not only from coal, but also from any rock partings contained within the seam or any roof or floor material mined with the coal. Thus, coal mine dust may not have the same elemental characteristics as the coal being mined. Given that hypothesis, mixtures proportional to each thickness mined of roof, coal, and floor rock derived from the channel samples of the face areas from which the respirable dusts were generated by the CMs were used to produce the feed material that was pulverized in the Hardgrove machine.

Jan 1, 1989

By G. P. Larson

We define a specialized mineral market as follows: Specialized markets occur where a low volume of a given mineral is used to convey a large benefit to a specific product. Sales of these value added minerals to small markets generally require a different marketing approach than bulk or commodity markets for traditional minerals. Specialized markets are differentiated by several characteristics as listed in Table 1. [Table 1-Characteristics of Specialized Markets 1. Long-term sample evaluation 2. Small volume markets 3. Highly controlled properties 4. Customized specifications 5. Technical selling effort] Many of the specialized markets require long term evaluations before sales can be made. This can vary greatly depending on the type of industry and ultimate end-use of the final product. In some cases, complete evaluations may take from several weeks to years. Length of sample evaluation has no relationship to size of market. That is, the total market may be quite small or fairly large (e.g. from a few hundred pounds to a few million pounds). Uniformity of value added minerals from lot to lot is an extremely important characteristic for these markets. Variations that are of no consequence to one industry (or application) cannot be tolerated in another. This has led to customized specifications and test procedures for specific markets and applications. Because of the greater uniformity and customized specifications, the need for greater technical selling effort is required. This is particularly true in the initial developmental phases and contacts as well as in maintaining the account after the initial order. A small entrepreneurial organization can be used to advantage to achieve goals of sales and profit to these types of markets. The large commodity or bulk producer's sales and marketing organizations are not ordinarily equipped to give the necessary service or technical assistance to the specialized markets. The organization usually required for this type of marketing is given in Table 2. [Table 2- Specialized Marketing Organization Requirements 1. Flexible approach to technical and marketing problems 2. Versatile background in a broad range of industries 3. Laboratory backup when necessary 4. Marketing expertise 5. Technically competent management] In developing specialized markets, a flexible approach to both technical and marketing problems is necessary in understanding the needs and requirements of the industry and the applications involved. This flexibility is also helpful in adapting existing products to new market areas. Having knowledge of a range of industries as broad as possible can be very helpful. It often happens that a product developed in one area or industry can lead to its application in a different area with excellent results. Laboratory assistance for a wide range of tests and test procedures is an important asset in any development program for specialized markets. Laboratories can also assist in competitive evaluations. Marketing expertise and a management with some degree of technical understanding are necessary in to assign proper cost/ benefit ratios to a proposed new product or application of existing products. This is important since the total market volume can be small and the time required for initial contact to first sale can often be lengthy. Also, management's technical and marketing expertise is required in evaluating all possible options that can be considered viable when an application is presented. Once an organization of this type is in place, it is then possible to determine the needs of the marketplace, including when various minerals might have to be customized to fill those needs. There are generally two methods of marketing, as noted in Table 3. [Table 3- Method of Marketing 1. Product Driven -Develop a product with certain desirable properties and try to find a market to utilize those properties. 2. Market Driven -Know market well enough that when a need arises, it is possible to identify a product that will satisfy the need.] These approaches are not mutually exclusive and can be used at the same time. Marketing a value added mineral generally requires the "market driven" approach. Hence, the importance of a knowledgeable management as outlined above. To determine where needs and opportunities exist, several approaches can be used. Table4 lists some of the methods employed.

Jan 1, 1993

By Alfred Jr. Petrick, William A. Vogely

INTRODUCTION The scope of mineral finance extends beyond the economic aspects of property evaluation to all of those activities involving acquisition and utilization of funds with an objective to optimize the value of the firm. It must, therefore, en- compass consideration of the overall financial goals of the firm, decisions involving external versus internal growth and domestic versus foreign investments, management of working cap- ital, efforts to minimize the cost of capital, and decisions with regards to the instruments of long- term debt and equity financing. The scope of this section is limited to considerations of special interest to the mineral or petroleum engineer, which include the following aspects of mineral finance: (1) The technical aspects of mineral or coal property or oil and gas reservoir evaluation which provide the basis for estimation and forecasting of revenues and costs. (2) Estimation and forecasting of costs and prices in a inflationary economic environment. (3) Calculation of cash flows which model .. , the investment in minerals, coal or oil, and gas. Such models require assumptions as to the timing of cash flows, escalation of capital and operating costs, base prices, and escalation, the tax regime, royalties, division of profits and the economic aspects of loans. (4) The role of discount rate in the economic analysis of an investment which requires consideration of the opportunity costs of the firm, cost of capital, risk premiums. (5) Risk analysis including application of the concepts of conditional net present value, expected value, and risk preference as well as the application of the techniques of sensitivity and simulation. (6) Selection of application criteria for in- vestment decision making. (7) Capital structure with particular reference to the effect of debt financing. (8) Consideration of sources of funds utilized by the minerals industries. (9) Long-range planning including portfolio analysis. This section is limited to principles, methodologies, and trends in mineral investment, finance, and long-range planning in the United States with a perspective from the year 1984. Consideration of the key concepts is supplemented by case examples of investment risk analysis and financial structure. Important factors affecting mineral investment evaluation during the 1980s include volatile metals prices, cost inflation, and the introduction of techniques requiring the computer and its capacity for improved technical and economic analysis into the hands of those who know most about the industry. The personal computer is replacing the calculator on the desk of the individual analyst and is rapidly becoming a required tool for the study of engineering and economics. Examples of change brought about by the micro-computer include greatly improved techniques of cost estimation, wider application of the computer for project analysis, computer graphics, reserve estimation, geostatistical analysis, mine design and other techniques that capitalize on the ability of the computer to handle

Jan 1, 1985

By S. Zaharia

The authors present the state-of-the-art regarding natural and anthropic hazards on the stability of the saliferous Costiui basin. The factors that may potentially result in sliding, piping and collapse, are emphasized, given the existence of a large number of old salt mines. Also, a geotechnical risk map of this hydrosalt complex in Romania is presented.

Jan 1, 2008

By M. Y. Fisekci

Subsidence measurement methods, applied over the thick and steep seam mining in the Rocky Mountains Region of Western Canada are described. The studies to date indicate that two new subsidence monitoring techniques appear to be the most suited methods for our conditions. The computerized telemetry and aerial photogrammetry systems are being tested for the reliability of the systems during the winter months within the network of laser surveying over the workings of the new hydraulic mine. The site particulars and the mining method of the concerned area have been described briefly. The observation over the old hydraulic mine indicate that panels adjacent to each other do not obey identical subsidence phenomenon.

Jan 1, 1982

By James H. Harmon

As the trend to deeper mines, producing from marginal ore bodies, continues, mine hoists and their associated equipment will become more sophisticated, complex, large and expensive. Over the past two decades, mine hoisting equipment and systems have moved from steam engines to static rectification of ac to dc, and electronic controls are the standard. It is the intent of this section to present what is currently available in the field of mine hoisting equipment and systems. Because the present engineer has been exposed longer and more intensively to such things as computers, electronic devices, and machine design, no attempt has been made to make this a layman's article. Contributions from the electrical design and application engineer, gearing and hearing design engineers and other specialists have been incorporated. Some material will be devoted to electrical drive systems, rectifiers and gearing design among others. These items are inherent in the design of a mine hoisting system and the subsequent selection of the correct, most reliable and most economic system. The mine hoist can be a bottleneck between the underground mine and the surface mill. Correct selection of the right type of hoist is imperative. In this vital link between mine and mill, crude estimates of hoist capacity are not good enough, and the mining engineer must design and select the right hoisting system to meet the design specifications. 15.1-MINE HOIST TYPES There are two basic types of mine hoists available anywhere in the world today: the drum hoist on which the hoist rope is actually stored during the hoisting cycle, and the friction (Koepe), which merely passes the rope over the wheel during the hoisting process. Drum and friction hoists are "generic" terms which describe the two basic categories. Within each category are variations, as below. 15.1.1-DRUM HOISTS Drum hoists, as noted, actually store the hoist rope on the drum much the same as line on a fishing reel. To accomplish this task, the drums are so designed to store, in one or more layers, the footage of wire rope equal to the total maximum hoisting distance plus sufficient rope for cutting and inspection at regular intervals and for holding to the drum (see Fig. 15-1). Usual practice in hoist drum design is to allow three turns of hoist rope for holding on the drum and three turns for inspection cuttings. 1. Single-Drum Hoists-Fig. 15-2 shows a typical single-drum hoist as manufactured by most U.S. heavy-mining-equipment companies. With the exception of some very minor features, this design configuration is standard throughout the U.S.A. Fig. 15-3 is a plan view of a typical single-drum mine hoist. This particular hoist has a single-motor drive and a double-reduction set of gearing.

Jan 1, 1973

By I. H. Warren, F. A. Forward, D. E. Pickett, Ernest Peters, Alvin H. Ross, I. M. Masters, N. P. Finkelstein, R. Derry, A. W. Fletcher

In this section the chemical, physical, and mechanical principles of hydrometallurgical processes are developed and reviewed. Plant practice is not discussed other than to note the metals which are processed using the various systems that are available. These notations will permit the reader to refer to the appropriate section in Part II of the Handbook for specific details on a particular metal or mineral. The equipment used to accomplish the desired unit operation is de¬scribed. Comparative data are presented to illustrate performance characteristics of unit operations, process, and equipment. The economic efficiency of individual processes is outlined. Some of the chapters contain material that is covered in detail in other sections of the Handbook Such chapters are developed only sufficiently to indicate the specific application of the techniques to hydrometallurgical processes. In this section considerable cross-referencing to the other related sections has been done.

Jan 1, 1985

By David A. Lindsey

In this paper, we present a physiographic classification of gravel deposits, identify some field measures of aggregate quality, and describe sampling strategies for mapping aggregate quality in the Front Range Urban Corridor of Colorado. Gravel occurs in four types of deposits along the Front Range of Colorado: (1) piedmont alluvial fans, (2) high dissected terraces, (3) high (continuous) terraces, and (4) floodplains and low terraces. The four deposit types are the basis for definition of gravel-deposit models, which differ in geologic environment, deposit characteristics, deposit size, environmental impacts of mining, and post-mining use. Of the four types, floodplains and low-terrace deposits have been exploited most for gravel. High terraces also have been mined. Deposits of high dissected terraces and dissected alluvial fans have produced minor amounts of gravel, mostly for use as local fill. Studies to identify useful field measures of aggregate quality and to determine the appropriate scale for sampling were conducted on gravel deposits beneath the flood-plain and low terraces of the South Platte River north of Denver and the Cache la Poudre River between Ft. Collins and Greeley. Gravel deposits of the South Platte were selected for study because they represent the last major resource of gravel for aggregate in the Denver metropolitan area. The Cache la Poudre valley is the primary source of gravel aggregate for rapidly urbanizing areas around Ft. Collins and Greeley. Of all the field measures of gravel quality, the most important is particle size. Various parameters that measure particle size were investigated, but the easiest to determine, and the most useful to the aggregate industry, are measures of the proportion of coarse sizes. Particle size varies widely in gravels of the urban corridor. Gravel lithology, particularly the presence of deleterious particles such as reactive volcanic rocks and decomposed rocks, must be determined to assess aggregate quality. Studies of South Platte and Cache la Poudre gravels have not revealed large proportions of deleterious lithologies. Studies of particle shape revealed only small numbers of physically weak shapes in both the South Platte and Cache la Poudre gravels. Particle shape does not appear to vary from place to place in the gravels. Rounding, or the ab¬sence of angular corners, may play a role in the tendency of loose gravel to yield under load. South Platte and Cache la Poudre gravels are rounded, and rounding tends to increase upstream. Before the quality of gravel in a valley can be assessed, the stratigraphy of the gravel must be known because it affects sample design. If only a single gravel layer is to be studied, only the thickness of the gravel must be known before sampling. If, however, more than one layer of gravel-distinguished by particle size, sorting, or lithology-is present, sampling must take into account the thickness and distribution of each layer. For example, three gravel layers of different particle size underlie the floodplain and low terraces of the South Platte. The tributary Cache la Poudre, on the other hand, contains gravel layers that can be distinguished only locally and vary slightly in particle size. Sampling experiments were conducted on gravel bars in the South Platte River and in gravel pits on the floodplain and low terraces of the South Platte and Cache la Poudre Rivers. Experimental results indicate that, even where sample error is large, regional and stratigraphic variation may be measured if it is large relative to sample error. Using vertical trench samples weighing an average of 40-90 pounds, down-stream decrease in coarse particle size was mapped for Cache la Poudre gravel, and differences among superposed gravel beds were measured for South Platte gravel.

Jan 1, 1999

By William E. Cutcliffe, John A. Ames, John D. MacFadyen

Webster's dictionary nearly equates portland cement with its current primary definition of cement. Although such equation may be a triumph of common usage, the confusion between the terms cement and concrete unfortunately is very widespread. Full definition of cement properly would extend to many substances, but for purposes of this chapter cement is restricted to varieties of portland cement including portland-pozzolan cement. Among the usually recited historical notes concerning cement is that it was developed by the Romans. Their use of cement in the great structures of Rome, and even in the far comers of their Empire, such as Hadrian's Wall in the north of England, testifies to the antiquity of a major cement industry. From English sources we know of John Smeaton's carefully proportioned hydraulic cement mixed in 1756 and of Joseph Aspdin's patented cement to which, in 1824, he gave the name portland cement. (He claimed that his cement mortar looked like the famous dimension limestone quarried from the Isle of Portland on England's south coast.) The year 1971 marked the centennial of portland cement manufacture in the United States. A fair historical account of the many real contributors to the cement industry since 1756 unfortunately would be too extensive for this chapter. Development of rotary kiln practice and burning at higher temperatures clearly was the major move into today's technology. Cement manufacture is the processing of selected and prepared mineral raw materials to produce the synthetic, mineral mixture (clinker) that can be ground to a powder having the specified chemical composition and physical properties of cement. Cement making incorporates a number of distinct steps, but it is characterized by the key pyroprocessing (or burning) step, which brings about the necessary changes in the raw materials. This pyroprocessing is a chemical process. Conversion of large volumes of mineral raw materials into specification-controlled cement at relatively low cost is the objective. Statistics on the cement industry are of uneven quality. The US Bureau of Mines (USBM) is the principal collector of available data. These statistics can be only as good as the quality of information supplied by the reporting companies. The data perhaps most often questioned relates to productive capacity of the industry. The questions submitted by USBM are valid, nevertheless, and the information gained from them, as good as is available, is what is generally used. The Portland Cement Association also is a source of much quality information. In analyzing cement industry production rates, it is well to keep in mind that measurement of raw materials requires the reader to recognize that approximately 1.6 t of dry raw materials are required to make 1 t of clinker. This number can vary depending on the amount of kiln dust wasted. Also that to produce 1 t of portland cement required .94 to .96 t of clinker, the remainder being gypsum or anhydrite. A ton of masonry cement or pozzolanic cement re- quires considerably less clinker.

Jan 1, 1994

By Dan Nilsson

INTRODUCTION There are many mine planning factors in sublevel caving, as in the other mining systems, which when varied can substantially alter mining costs and profit¬ability. In this chapter, the following four topics are addressed with regard to economic optimization of sub¬level caving: production planning, haulage level spacing, orepass spacing, and extraction cutoff. The costs used here are the right order of magnitude but since each mine is unique, they should be considered only as examples. The objective is to demonstrate the tech¬niques which can be used. In a real mine, the evalua¬tions must be done using actual costs and conditions. It is difficult to predict exactly the costs involved, and therefore it is valuable to perform a sensitivity analysis to evaluate the effect of making incorrect as¬sumptions. Since the mining industry is very capital intensive, the effect of the interest rate must also be studied. PRODUCTION PLAN FOR AN IRON ORE DEPOSIT Introduction The first and most important thing to do before de¬signing an underground mine is to establish a long-range production plan. Such a plan is necessary for all eco¬nomic evaluations and should provide information about the lifetime of the mine, how much ore and waste must be handled per year, how much development per year is required, etc. An example is given in the following section. Problem In an iron ore mine sublevel caving is used. The iron content is 42%, and the mine supplies a pelletizing plant with an annual capacity of 3 million t/a. The ore body is shown in Fig. 1. The length of the ore body is 1000 m and the width is 100 m. Each slice is 10 m high, and there are 10 m be¬tween crosscuts, each of which has an area of 20 m2. The density of the ore is 3.5 t/m3. The spacing between rings is 2 m, and the extraction is 100%. The iron con¬tent is 66% in the pellets and 6% in the tailings. The problem is to develop a detailed production plan. A typical sublevel caving sequence is shown in Fig. 2. Solution Amount of ore per meter of crosscut: 20 X 3.5 = 70 t. Number of crosscuts per slice= 100. Length of crosscuts per slice: 100 X 100 = 10 000. Ore from crosscuts per slice = 10 000 m X 20 m2 X 3.5 = 700 000 t. Number of sublevel caving rounds per slice: 10 000/2 = 5000. Area for each blast in sublevel caving: 10 X 10 - 20 = 80 m2. Amount of ore per blast: 80 m2 X 6 m X 3.5 = 560 t. Extraction: 100% (see extraction curve Fig. 12). Loaded ore per blast: 75% or 420 t. Loaded waste per blast: 25% or 140 t. Total: 560 t. Total amount of rock from each blast in the sublevel caving: Ore: 560 t of which 2 X 70 = 140 t from develop¬ment work and 420 t from sublevel caving. Waste: 140 t. Total: 700 t. The ore needed per year is 3 X (66-6)/42-6 5 mil¬lion t. Necessary number of blasts per year= 5,000,000/ 560 = 8929. Distance to develop per year = 8929 blasts per year X 2 m per blast 17 858 m. Total amount/year: Ore from development work 17 858 m x 70 t/m = 1.25 million t/a Ore from sublevel caving: 8929 blasts per year X 420 tons per blast = 3.75 million t/a 5.00 million t/a Waste rock dilution: 8929 blasts per year X 140 tons per blast 1.25 million t/a Total amount to hoist 6.25 million t/ a The amount of ore from development work will in¬crease a little if the horizontal drift is placed in the ore body and not in the footwall. In this example the ore loss in 20%, and the waste rock dilution is also 20%. After taking the ore loss into account, the lifetime for 100 m of the ore body will be:

Jan 1, 1982

By P. R. Taylor

The ability to process complex precious metal sulfide concentrates containing antimony and arsenic in an economic and environmentally safe manner is an important problem facing the mining industry in the United States. Preliminary experiments have been performed to evaluate the possibility of treating a complex sulfide concentrate to recover antimony and precious metals while fixing the arsenic and sulfur as calcium arsenate and calcium sulfate. The process involves: • the oxidation of the antimony and arsenic minerals in the presence of soda ash (to collect the sulfur dioxide and to keep the antimony and arsenic from forming volatile compounds), •the selective leaching of the arsenic from the roast calcine with a heated caustic solution, •the precipitation of the arsenic and sulfate with calcium hydroxide and/or calcium chloride, •the reduction of the residual antimony (collecting the precious metals), •fuming of the metal to form a marketable antimony oxide, and •crucible reduction of the residue to obtain a gold and silver dore. Batch experiments, using synthetic concentrates of stibnite and arsenopyrite, were performed to evaluate the first stage of this process. Variables studied included mixture weight fractions, temperature, gas flow rate, oxygen partial pressure, and time. All of the off gas dust and sulfur containing gases were collected and analyzed. The roast solid residues were subjected to arsenic leach tests, and the leach solutions were subjected to arsenic and sulfate precipitation tests. Introduction The ability to treat a precious metal ore containing appreciable amounts of antimony and arsenic is dependent upon the characteristics of the ore. For some ores, selective flotation can be used to separate the antimony and arsenic minerals, which are then treated separately. Unfortunately, many ores are not treatable in this way, and the concentrates obtained may contain appreciable contamination (which limits the ability to make acceptable grade antimony products). If we consider the added value of the precious metals in the concentrate, then it is worthwhile to evaluate the potential for new methods to treat these types of concentrates. In addition, the environmental difficulties associated with arsenic disposal must be taken into account in any proposed process. If there is appreciable arsenic present, then it must be either recovered as a marketable product or placed in an insoluble form. The problem addressed in this research program has become increasingly important as the precious metals mining industry is encountering more ores of this type. A large deposit of this type exists in Idaho where the antimony occurs primarily as stibnite, with minor amounts of kermesite and tetrahedrite (Cooper, 1951). The gold appears in association with arsenopyrite with minor amounts of other arsenic minerals. Flotation has been used to obtain an antimony concentrate. The concentrate, however, is contaminated with appreciable amounts of arsenic and also contains precious metals. If the ore or concentrate contains appreciable amounts of base metals, then the recovery process becomes much more difficult. There are a number of other known deposits of this type in Alaska, Canada, Montana and elsewhere. The objective of this research program was to develop a fundamental understanding of the oxidation and leaching chemistry of the arsenic and antimony minerals so that technology may be developed to treat these ores in an economic and environmentally safe manner. Wendt (1949) and Koster and Royer (1940) discussed the possibilities of oxidative roasting of stibnite concentrates containing arsenic. Wendt describes a process used at a smelter in Czechoslovakia (in the 1930s) where roasting was carried out in rotary furnaces at 723° K (500° C). Most of the arsenic was removed as fume, as well as 25% of the antimony. No sulfur dioxide containment was described. The oxide fume from the furnace went to a heated caustic water leach, where the arsenic was preferentially dissolved and then precipitated with calcium chloride as calcium arsenate following solid-liquid separation. The antimony oxide was sold, and the solid oxide discharge from the rotary furnace was sent to a blast furnace where the antimony metal, containing the precious metals, was recovered. The metal was fumed to obtain antimony oxide, and the precious metals were left in the residue and collected with copper. The copper

Jan 1, 1994

By C. J. Johnson, C. J. Bise

Coal extraction by continuous miners (CM) is currently the most common underground method in the US industry and accounts for slightly more than two-thirds of the nation's deep mining production (National Coal Association, 1987). Even if longwall mining should become more commonplace, it can proceed only after ventilation and access entries have been driven by CMs. Since an area of concern continues to be the effects of the dust generated on the health of mineworkers, this paper discusses the relationship between the elemental compositon of mining-generated airborne dust sampled from the immediate ventilation return of a CM and laboratory-generated dust derived from channel samples taken from the mines. There are several potential contributions of this type of study to the coal mining industry. First, after more fundamental knowledge of the causes of Coal Worker's Pneumoconiosis (CWP) is learned, the laboratory-generated respirable dust could be used to identify a potentially hazardous coal seam. Also, this study could possibly aid in understanding the fundamental causes of CWP by producing mining-simulated samples of coal dust that could be used in epidemiological studies. Further. assuming that there is no difference in the elemental composition of a drill-core sample and a channel sample from the same location, a mining company could predict anew mine's respirable dust elemental composition in the immediate ventilation return by using exploratory drill core samples of the roof, coal, and floor rock to prepare the laboratory dust. Ventilation engineers could then use engineering design and control measures during premine planning to reduce the incidence and severity of CWP by better ventilating the potentially hazardous coal seam. If this proper planning prevented any future changes to the ventilation equipment and mine design. much time and money could be saved. Scope of work To investigate the variability of the chemical characteris tics of respirable dust, airborne dust samples from eight underground coal mines located in the eastern and midwestern United States were collected with eight-stage Sierra Model 298 Marple cascade impactors, as well as 25 channel samples of mined material. Each channel sample was removed from the middle of the coal face before mining occurred. Sampling of the mining-generated dust was conducted by Lee (1986) by sampling the entire working sections, primarily for characterization purposes, to obtain information on the locational variability of dust characteristics. Research performed for this study used the elemental analyses of the mining-generated dusts he sampled in the immediate ventilation returns of CMs. The procedure that was used to produce the laboratory generated respirable dust was based on the Hardgrove grindability test since it reflects the pulverizing characteristics of coal. This test was chosen for several additional reasons. First, it is repeatable and reproducible. A consistent amount of input energy is used as well as a specified size range of feed material to be crushed (the channel samples). Second, it is thought to generate secondary dust in a way similar to that of the crushing and grinding of the coal and rock as they pass through the arc-shaped cutting path of the CM's cutter head. The potential effect on dust generation by this secondary grinding mechanism may be at least as much as that produced by primary fragmentation, which is dust produced by the cutting action of the bit against the coal or rock (Roepke. 1984). Finally, the Hardgrove grindability test is well known and is used in the coal industry to guide mineral processing engineers in estimating the capacity of mills used to grind coal. One hypothesis of dust researchers in the Generic Technology Center for Respirable Dust is that the elemental as well as the physical characteristics of coal mine dust will make a difference in the incidence and severity of CWP. Coal mine dust is generated not only from coal, but also from any rock partings contained within the seam or any roof or floor material mined with the coal. Thus, coal mine dust may not have the same elemental characteristics as the coal being mined. Given that hypothesis, mixtures proportional to each thick¬ness mined of roof, coal, and floor rock derived from the channel samples of the face areas from which the respirable dusts were generated by the CMs were used to produce the feed material that was pulverized in the Hardgrove machine.

Jan 1, 1990

By Kumara Rachamalla

North American mining companies are lagging behind their global competitors in participating in the outstanding opportunities in India. The Indian government has liberalized foreign equity participation in the mining sector by up to 50% and, in some cases, even higher. Delegates from Europe, North America and South Africa learned this at an information seminar held in London, England, Attendees were welcomed by L.M. Singhvi, the UK's high commissioner for India. He introduced a government of India delegation headed by B.P. Baishya, minister of steel and mines. Singhvi is an eminent jurist and leading constitutional expert. He reiterated the soundness of India's legal system. He also outlined the recent Investment Protection Treaty between India and the United Kingdom. Baishya emphasized thee geological diversity and strengths of India's domestic market with its population of more than 920 million people the second largest in the world after China and its reservoir of skilled labor. He also outlined the potential of India's untapped natural resources. The private sector is the backbone of the Indian economy. It accounts for 75% of gross domestic product (GDP). The current minimum program of the new United Front government envisions 12% growth in the industrial sector, 7% in GDP and direct foreign investment of US$10 billion a year. "Mining is an area that can attract a sizable part of this investment," Baishya said. "Projected growth of the Indian economy will require increasingly large quantities of basic raw materials, such as coal and base- and precious-metals to meet the needs of domestic and export markets." Administration of India's mining sector is divided into the Ministry or Mines for regulating and developing the country's mineral resources, five public sector Mining Enterprises, the Geological-Survey of India (GSI), the Indian Bureau of Mines (IBM)and 25 states and seven Union Territories. The GSI is the second oldest (founded in 1851) and the third largest organization of its kind in the world, Baishya said. It has geologically mapped more than 90% of India's 3.2 million kmz (1.2 million sq miles) at a scale of 1:50,000. Several promising mineral projects have emerged from regional exploration programs conducted by GSI and the Mines and Geology State Governments. IBM recently completed a national mineral inventory. It covers 13,000 deposits/prospects of 61 nonferrous minerals. GSI also compiled a similar inventory on 61 coal fields. India is attractive to exploration companies for several reasons. These include favorable geology, accessible locations and a large mineral database. India also has many experienced geoscientists with well-equipped and efficient laboratories, Baishya said. Secretary to the Ministry of Mines A.C. Sen emphasized the largely untapped-geological and mining potential of India. He also discussed the new vistas that have opened up opportunities for exploration and mining. India has large quantities of mineral reserves, Sen said. Its vast Precambrian Shield - like those in Canada and Australia - is endowed with gold, platinum group and base metals, as well as coal and industrial minerals. Annual mineral production is valued at more than US$7 billion. Sen pointed out that India is the largest single consumer of gold. And domestic gold prices command at least a 20% premium above international prices. Recent diamond, gold and base-metal discoveries and prospects uncovered by GSI have generated investment interest from abroad, he added Delegates heard that the Indian Constitution gives the central government the job of framing legislation and the regulation and development of minerals. This ensures that mineral laws are uniform throughout the country. However, the right to grant mineral concessions, such as prospecting licenses and mining leases, rests with the minerals' owner. In India's case, that is the state government. The Indian government has formulated several guidelines that regulate the granting of prospecting licenses for large areas. ? The central government will consider the requests of state governments for the granting of prospecting licenses for areas exceeding 25 kmz (9.6 sq miles). But the license must include a provision to conduct aerial prospecting of the area. ? Any prospecting licensing area should not exceed 5,000 kmz (1,930 sq miles). for a single license. And the total area held by one company should not exceed 10,000 km2 (3,861 sq miles) for the whole country. ? The grant of larger areas will be linked to a mini- mum expenditure commitment on physical targets. State governments will monitor these expenditures. ? The granting of large areas for prospecting will be linked to a schedule of relinquishment.

Jan 1, 1997

By Lowell T. Harmison

I appreciate very much the invitation to speak with you and the opportunity of bringing you messages from both the Secretary of the Department of Health and Human Services and the Assistant Secretary for Health/Acting Surgeon General of the U.S. Public Health Service. I would like to take this opportunity to congratulate you (the organizers of this Conference) on identifying the critical issues in the field and assembling such a broad array of experts to address them. I would like to present a brief view of the emerging framework for health that puts into perspective some of the aspirations of the Administration and to highlight several points with regard to prevention and occupational health. The goals are: 1. To improve the overall health status of our people. (This has been and will remain the National policy regarding health.); 2. To engage the Nation in the important effort of enhancing public health. (This is not reserved exclusively for the activity of the Federal Government or for State Governments. Public health has to be a cooperative effort that brings together all of the people engaged in the process of serving the people.); and 3. To pledge that health care will not be priced out of anyone's reach because of inflation. (It is clear that there are major tasks of bringing about economic recovery in our country. One aspect of this effort is to guard against the cost of health care not being allowed to rise beyond the reach of persons who need that care.) "How will these goals be achieved and what must change in the delivery of health and medical care in our society?" There are a number of real issues as well as perceptions that adversely affect the attainment of these goals: First, The cost of medical care is soaring and the public, industry unions and other elements of our society are becoming concerned. (They recognize the problem and are demanding a solution.); Second, There is a growing concern about the priorities that have been set. (For example, the evidence that preventive interventions are the most effective approach is overwhelming, yet medicine has not yet given that a high priority.); and Third, There is the perception that physicians do too much to too many people at too great a cost and that too much and too costly technologies are used. In view of the perceptions, we all must accept some changes and the challenges that needed changes will bring. A month before the new budget went to Congress, President Reagan went on nationwide television and told the American people that, "It is time to recognize that we have come to a turning point and we are threatened with an economic calamity of tremendous proportion and the [old business as usual treatment can't save us. Together we must chart a new course]." Now eight months down the road from this and a long Spring and Summer of discussion both within the Executive Branch and in the Congress, many plans and programs and concepts have emerged. The new course has been charted and the turning point has been made. Business as usual has been put aside and the Administration's leadership has been stretched and tested in putting forth a better approach with the reality that money is tight and that old habits of delivering care are difficult to change. The Congress has now given us a look at a new health budget that takes into account some of the harsh economic realities and that does make allowances for the persistence of familiar behavior. Against this background, it is now possible to begin addressing ways to provide health services to people at a price the Nation can afford to pay. There are without question difficult decisions involved but the Administration is committed to supporting and improving health care in America. It has been the President's contention that one of the principal causes of the inflationary spiral in the country was the steady and indefensible growth of the Federal budget. The problem stems from the fact that we have been living well, but beyond our means for nearly 30 years. Now we are discovering that there is a bottom to the barrel after all. It is possible for our society to run out of things like energy (oil), water or money. The health bills must be paid -- by Government, by insurance, by parents or by someone. Each year with a bigger shopping list and more money to spend the Federal Government went into the marketplace to buy. This action altered the

Jan 1, 1981

By Peter J. Szabo

The mining executive works in a cyclical industry. His employment is subject to the vagaries of the marketplace. Boom and bust has always been the industry's story. "Big oil" failed in its mining effort. This left emotional and financial scars on many mining families. One must remember that mining executives always play a high-stakes game. Given the cyclical nature of the mining industry, mining executives need to take care of their own financial security. The mining executive that does not plan for his financial security in this cyclical business is playing Russian Roulette with his future. Take a look at those people who have reached their later years with the mining industry. One usually finds three categories of people. Those few in the first group have been fortunate enough to have worked for one company. They have survived the winnowing process of cyclicality, political problems, and takeovers. They have reached normal retirement age. For them, the retirement years are usually comfortable. People in the second group have worked for those same mining companies. But these people have been forced out by early retirement. Or they have been laid off for cyclical, takeover, or political reasons. The third group includes those who have held many positions in the mining industry. Probably not until their later years are they fully vested, if at all, in a pension program. The first small group, then, is the exception. The others, unless they have taken care of their financial security, are doomed to later years of financial problems, stress, and unhappiness. Too late in life, many realize the harsh realities of failure to plan and implement a personal financial program. Mining executives go to some of the world's leading mining schools, to learn how to make money. The curriculum is technically strong. Most mining graduates are familiar with the intricacies of discounted cash flow, present value, and the Hoskold formula. But few of these same mining schools require courses on personal financial planning. Such courses could give mining students a realistic foundation and the mechanisms with which to cope with their cyclical profession. An executive has only three sources of money. He can make money at work. He can put his money to work. Or he can get money from charities, such as government programs. Of these three sources of money, money at work has the best chance of providing financial security in later years. The mining executive must think of the day when he will be too old to work and contribute to the market place. At this point, the quantity and quality of his investments will determine whether his later years will be secure. Along with the Mining Engineering Handbook, two key books should be included in the mining executive's library. These are Venita Van Caspel's The Power of Money Dynamics and Benjamin J. Stein's Financial Passages. These books contain the basic concepts of personal financial planning so critical to an individual's financial survival. Venita points out the simple formula that is the key to financial independence: Time + Money + American Free Enterprise (Rate of Return) = Opportunity to Become Financially Independent Chart 1 shows that this is not a trite formula. The chart shows the dramatic effects of compounding over time. The chart also shows at various yields what a $2000 a year Individual Retirement Account (IRA) contribution will accumulate. Chart 1 (from Money magazine) is based on the future value of an ordinary annuity. It shows that the key to amassing a small fortune by the time a person reaches his 50s is starting to save methodically in his 20s. This, coupled with the highest yields consistent with safety of principal will ensure financial security. There are significant effects from compounding money over time. Every year the decision is put off to save for later years will cost a person dearly by the time he reaches his 50s. For example, consider the decision to put off for one year a $2000 IRA investment at a 12% return. Starting it at age 31 instead of 30 will cost the executive almost $100,000 by age 65. What if the executive waits until age 35 to get started with his $2000 a year investment? He will then lose nearly $400,000 by age 65. Stated another way, the executive costs himself this $400,000 simply because he did not invest $167 a month for five years. $167 a month - that's less than an inexpensive second car payment. This $400,000 pool of money could provide the executive a $40,000 a year income at age 65, assuming a 10% return on invest-

Jan 11, 1985