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By Gregg Wilkerson

The Blind Springs Hill pumice beds are located 5 miles southwest of Benton, California in the foothills between the Benton Mountain Range and Blind Springs Valley. The best exposures of the pumice are in an area 0.75 miles west of Blind Springs Hill. The pumice is Quaternary ejecta material which came from the rhyolitic volcanoes in the Glass Mountain-Volcanic Tablelands area of Mono County. The pumice beds occur in two distinct layers separated by an unconformity. The upper layer is 0 to 11 feet thick and consists of coarse subangular pumice fragments, some of which are over 1.75 inches in diameter. The lower bed is medium to coarse grained with subangular fragments up to 1.0 inch. The lower bed is 0 to 9 feet thick. Overburden at the Blind Springs Hill deposit varies from 0 to 15 feet. There are approximately 1 million cubic yards of material in the deposit that can be mined. The size distribution in the deposit is mostly fine with only 10.6% of the pumice fragments being over 0.5 inch in diameter, the minimum size needed for stone-wash or acid-wash applications. Suitability of pumice for the textile industry is quantified by standard 15-minute abrasion and absorption tests. In the Blind Springs Hill deposit, the plus 0.5 inch fraction has an abrasion loss of 33% which is too high for stone-wash application but it has an absorption capacity of 36% which makes it suitable for acid-wash applications in the textile industry. The abrasion and absorption properties of this deposit are within the range of those which have been measured for other pumice deposits within the United States.

Jan 1, 1995

By Steven McCutcheon

As most of us have learned through prior and often frustrating experience, anyone proposing to construct a new or expanded mining-ore processing facility must first contend with a rather complex array of environmental laws and permitting regulations administered by a number of different Federal, State and local agencies. At our lost count, there were about 55 federal enactments affecting base and precious metals projects. Applicable State and local laws will usually increase that number significantly. The time and costs associated with complying with all these various regulatory programs usually constitutes one of the major areas of uncertainty in the development of a proposed project. There are many in the mining industry who firmly believe that these environmental regulation and permit programs necessarily causes significant delays and increased costs in the development of a project. This belief, unfortunately, is probably a result of a basic misunderstanding of how the environmental permitting and regulatory system actually works.

Jan 1, 1984

In 1989, United States mine production of barite decreased 13% while world mine production decreased by 8.6%, according to the US Bureau of Mines. Consumption, sold or used by grinding plants, decreased by 21.2%. And imports decreased by 12.8%. The value of domestically produced barite, fob mine, increased 17.4%, according to the Bureau. The declared value cif US port of all imported crude barite during 1989 increased from $38.10/t ($34.56 per st) in 1988 to $40.27/t($36.54 per st). Nevada continued to be the leading producer of barite with 77% of the total, followed by Georgia and Missouri. The Bureau of Mines estimates 75% of the domestic mine production was used as a weighting agent in drilling fluids. The remaining 25% was used in barium chemicals, glass, or as a filler. Most of the production from Missouri, Georgia, and Tennessee was used in the nonoilfield sector. Of the total consumption used by grinding plants and chemical manufacturers, it is estimated that 80% was used in drilling fluids. The other 20% was used in the non-oilfield sector, including barium chemicals and fillers in paper, plastics, and glass. The tonnage consumed in the drilling fluids market decreased due to the lower average rig count during 1989. The average number of rotary rigs operating was 869, 7.2% less than the average of 936 in 1988. Crude barite imports were down 12.8% from 1988. Imports accounted for 73.8% of the barite consumed (apparent) in the US. China continued to be the leading exporter of crude barite ore to the United States with 63% of total crude ore imports. India followed with 27.4%, Peru 4.3%, Chile 2.9%, and Canada and Mexico, each with 1.1 %. About 97% of the imported barite ore was used in the oilfield sector.

Jan 1, 1990

By William G. Wilson

In the U.S. today a number of tentative synthetic fuel plants have been sited by a number of major corporations. Each of these for a number of reasons have deferred construction. The only synthetic fuel plants under active development are those being built with the Energy Research and Development Administration (ERDA) under the authority of the Non-nuclear Energy Research and Development Act of 1974 (Public Law 93-577). Under this Act in joint sponsorship with industry, a series of coal conversion pilot and demonstration plants are being built to produce environmentally acceptable fuels from high sulfur coals. Before entering into a discussion of the factors associated with the siting of the ERDA coal conversion program, the difference between a pilot plant and a demonstration plant should be explained. The terms pilot plant and demonstration plant iridicate a size of plant rahter than technology. A pilot plant will vary from an "add-on" to an existing facility to an independent unit. Demonstration plants are a wholly independent, self contained plants, capable of independent operation to demonstrate the environmenta1, economic, and technica1 feasibility of a technology. These plants are from one-third to one-tenth the scale of a commercial operation and often described as plus 1000 tons per day of coal consumption. Their purpose is stated in the Act (Section 6, (3)(E),) "to accelerate the commercial demonstration of technologies for producing syncrude and liquid petroleum products from coal: Provided. That the Administrator shall invite and consider proposals from potential participants based upon Federal assistants and participation through guaranteed prices or purchase of the products .... " In site selection and plant design it has been suggested that special interest groups should be allowed to dictate the site and specify the design. Under the present program the industrial partner who is contributing 50 percent

Jan 1, 1977

By S. Bhagwat

Coals capable of emitting 2 lbs SO2/106 Btu heat input must be defined as high sulfur coals. This is because electric utility plants built after 1971 may not emit more than 1.2 lbs SO2, and those built before 1971, and regulated under the State Implementation Plans (SIP), may exceed the 2 lbs S0 limit only under closely defined restrictions concerning ambient air quality and prevention of air quality deterioration. Coals produced in Kentucky, Illinois, West Virginia, Ohio, Pennsylvania, and Indiana account for 77% of SO2 pollution potential and are, therefore, the subject of this investigation. These coals have suffered market share losses in the 10 years from 1974 through 1984. This is due to their sulfur content as well as their lack of price competitiveness with low sulfur western and imported coals. Kentucky and West Virginia have been able to increase their compliance quality coal production substantially, but other states have largely been unable to do so because of nonavailability of low sulfur coal deposits. Assuming that the current relative productivity and cost competitiveness of coal producing states will not change significantly by 1994, this paper makes two projections of coal production in the selected states. In scenario I, the current clean air regulations are assumed to apply until 1994, and coal production in the selected states is projected to in¬crease by about 6% in 1994 compared to 1984. In scenario II, it is assumed that acid rain legislation will be implemented, which will adversely affect the markets for high sulfur coals. Coal production in the selected states under this scenario is projected to decline about 10% between 1984 and 1994, jeopardizing up to 13,000 mining jobs. The author concludes that better coal quality and greater cost competitiveness are both essential to stem the market losses and to regain strength.

Jan 1, 1988

By Stephen Stone, Kerby Dobbs, G. Richard Whittecar, W. Lee Daniels, Zach Agioutantis, Tess Thompson

A common result of Environmental Impact Assessments associated with mining projects is the construction of new wetlands in areas disturbed by mining operations. Where appropriate, this mitigation may be considered an integral part of the mine reclamation process under the principles of sustainable development in the minerals industry. Wetbud is a new tool for estimating wetland water budgets using available weather data and site-specific topographic, soil and geohydrologic data, coupled with mass balance mathematics. Wetbud is primarily intended as a planning tool for use in the design of created wetlands, but it can also be applied to native wetlands or wetland restoration sites where the required input parameters can be specified. Wetbud can be run in its basic form where wetland topography, soil parameters and groundwater flux are simplified, or in the advanced form, where these parameters are included in a more complex approach via integration of the MODFLOW package, a free 3D program that was developed by the United States Geological Survey. Both versions can also include overbank flow hydrology sources and the advanced form can also model sloping and irregular topography. The program downloads weather data from the nearest applicable station and selects appropriate wet-normal-dry (W-N-D) years following a modest user data clean-up step. Wetbud also has the ability to utilize existing short-term (e.g. 6 to 9 months) groundwater data from an up-gradient well to simulate longer-term groundwater level inputs for the selected W-N-D years. In addition, Wetbud features a “Wizard” version that comes pre-loaded with 14 pre-selected weather data sets for all areas of Virginia that can develop a simple monthly water budget in less than 15 minutes – a feature that could be expanded anywhere geographically with historic weather data.

Jan 1, 2017

By Viggo C. Bertelsen, David G. Hammond

LOCATION AND EXTENT OF BART TUNNELS The San Francisco Bay Area Rapid Transit District (BART) during the past six years has become the Owner of 23.5 miles of single-bore tunnels. The tunneling experience gained while working closely with our Engineer and Contractors in the design and construction of these major transit facilities provides a basis for our "Owners" viewpoint. The 23.5 miles of tunnels are divided into two categories. Fifteen and one-half (15-1/2) miles of tunnels were constructed in soft ground underlaying the downtown areas of San Francisco, Oakland and Berkeley. Eight (8) miles of tunnels were built in "hard ground" in the hills separating Oakland and Berkeley from Contra Costa County and in the San Francisco hills on the Mission Line. Location of tunnels within the BART system are shown on Figure 1. The tunnels comprise 15.7% of BART's 75-mile dual track system. Their 176 million dollar costs (excluding rail, electrification or ventilation features) are 12.4% of the system's total estimated cost of $1.4 billion. The tunnels constructed in soft ground were shield and boring machine driven with ground support provided by steel liner rings. The exterior diameter is 17 foot, 6 inches in the majority of tunnels; however, on two tunnels with a 500 foot radius of curvature, the diameter was 18 feet. BART awarded 14 contracts for soft ground tunneling. The work was accomplished under free air or compressed air depending upon the ground water and soil conditions, safety requirements, and considerations for protecting adjoining property from damage either from the de-watering operations or settlements due to excavation. The tunnel bores, except on curves, were normally parallel being spaced at 32 foot centers on the Mission

Jan 1, 1997

By Roy Moreby

Dartbrook Coal is currently developing a modern, high production (3.5 Mtpy) single longwall retreat coal mine in the Upper Hunter Valley of NSW, Australia. The location is a green field site, with no surface or underground mining operations ever having taken place in the initial target seams. The coal seams of the working section, floor and immediate roof average a total 20 m in thickness and contain a mixed carbon dioxide 1 methane seam gas ranging from 6.5 to 11.0 m3/t. The target seams have undergone detailed characterisation to assess hazards and quantify the controls required to minimise associated risks during mining. Risks identified during initial phases of exploration and 14 months of development include: • High gas emission during development. • Probable high longwall gas emission rate. • Medium to high propensity to spontaneous combustion • Possible carbon dioxide outbursts on geological structures • The main controls currently in place include, • Mine geometry and ventilation circuits • Exploratory drilling ahead of development • Intensive in seam pre drainage • Goaf drainage plants • Comprehensive monitoring systems • Underground environmental management plan. • Pre mining predictions of gas emission provided an indication of gas emission rates which have proven to be an under estimate. Current mine issues are; • Both surface fans are at full capacity (250 m3/s 1.4 kPa) • Both gas drainage pumps are at full capacity (2.3 m3/s) • Alternatives to extensive in seam pre drainage being investigated (surface to in seam hydro fracture) Review of mine design underway This paper describes the seam characterisation, assessment of mining hazards and summary of the management plan developed to address the risks identified. A review of current mine underground environmental performance is also provided

Jan 1, 1997

By Kenneth Ronald Miller

Thunder Basin Coal Company's Black Thunder Mine is located 80 km (50 miles) southeast of Gillette, Wyoming in the Powder River Basin. Surface coal mining operations began in 1977. The Black Thunder Mine has been North America's largest producing coal mine for over 5 years. Production in 1988 totaled 22.6 million mt (24.9 million st) of sub-bituminous coal. Thunder Basin Coal Company is a subsidiary of Atlantic Richfield Company. The mine began as a truck-shovel stripping and mining operation. Haul trucks of 154 mt (170 st) capacity were part of the original fleet. In 1985, 218 mt (240 st) capacity trucks were introduced to the fleet. In 1988 a dragline was added for stripping. A single, primary/ secondary crushing stream feeds either a slot storage facility or dual silos. Three loading points are situated over two rail loops serviced by the Burlington Northern and Chicago North-western Railways. A Near Pit Crushing and Conveying system is currently under construction. It is expected to be completed during the fourth quarter of 1989. During the past 10 years, the conceptual crushing/conveying design has changed several times as technology and commodity markets have changed. The system under construction will have a capacity of 4700 mtph (5200 stph). The overland belt will be 3570 m (11,700 ft) long and 1800 mm (72 in.) wide. The belt speed will be 300 meters per minute (1000 fpm). Two separate crushing streams will feed the overland belt. Each stream will be comprised of a dump hopper at reclaim surface elevation, a drag feeder, a two-stage triple-roll crusher, and an incline conveyor of 2700 mtph (3000 stph) capacity. This article will describe the different concepts and factors that have resulted in the system design now under construction.

Jan 1, 1989

By P. M. Fozzard

The Chaucha porphyry copper/molybdenum deposit was discovered by a United Nations team of geologists working with a ?counter- part" team of staff of the Ecuadorian government's General Directorate of Geology and Mines (DDGM) in July 1968. The exploration program formed the latter part of phase I work plan of a two-phased exploration project financed by the United Nations Development Programme and initiated in late 1964. The author was a team geologist during the period 1965-1967 and subsequently project manager for the period 1968-1972. The Chaucha property lies some 10 km (6 miles) east of the north- south-running western boundary of what was known as Operation Area No. 5. This area of some 10 500 km2(4050 sq miles) is a square truncated to the southeast and centered on the city of Cuenca, the major provincial capital (Azuay Province) of southern Ecuador. The eastern half of the exploration area is dominated by the Cretaceous- Tertiary sedimentary valley (basin) of Cuenca (Caar-Azuay) and its related drainage area. The western half, in which Chaucha lies, is dominated by the high Cordillera Occidental volcanic plateau and the western erosional valleys of the Andes draining to the Pacific. The valley that dominates the eastern part of the area [I500 m (4920 ft) above sea level] is transected by the Pan-American Highway. Because of increased agricultural activity associated with the Cuenca Valley, the area is reasonably well covered by a road network of varying quality. The high western area up to 4000 m (13,120 ft) in altitude is largely barren and completely inaccessible by vehicle. The geological reconnaissance map of the region is shown in Fig. 1.

Jan 1, 1991

By B. T. Stanley

The basic geological data, derived from boreholes, exploratory test pits, drivages, and mine development, include information on parameters such as ore thicknesses, grades, depths below surface, structural attitudes of beds, rock types, and lithology of beds overlying and underlying the deposit. These data are usually supplemented by analytical information obtained from more detailed chemical, physical, and structural investigations of the various horizons. Even then, the relatively small number of sample points in the ore body and the sparsity of the sample volume make it necessary that the available information be interpolated between sample points and extrapolated into areas beyond the limits of the sample points. Such interpolation and extrapolation are usually done by making suitable assumptions about the parameter's continuity in the ore body and by building a suitable mathematical model. The mathematical model provides the values for chosen parameters at the nodes of superimposed conceptual grids of any desired dimensions such as a grid cell equal to the size of a mining block or any other criterion. This network of values, for any parameter, can then be used for mine planning, designing, and controlling functions. Additionally, these data can also be used to calculate ore reserve and quality in total and/or for any required block. Figs. 1 and 2 broadly illustrate the scope of work that may be involved in a geological ore-body modeling study for a coal deposit. Figs. 3 through 6 describe the scope of a commercially avail- able computerized system (MEDSYSTEM of MINTEC, Inc.) for creating drill-hole data base, mineral inventories, and for planning coal and uranium projects. The application of MEDSYSTEM to calculate reserves and to long-range planning in steeply pitching coal deposits is described in subsection 3.4, Chapter 4.

Jan 1, 1979

By Thomas V. Mullen

Some 146 kt (4.69 billion oz) of gold have been mined throughout history. Of this, 70% has been mined in this century alone, with 17% produced from 1985 through 1996 (Fig. 1 and Table 1). Until the mid-19th century, placers were the chief source of gold. Advancements in mining, metallurgy and geological thinking have resulted in underground mining (first of veins plus stockworks and later of Rand-type deposits) becoming the principal source of gold. With the demise of the South African deposits and the move towards lower grade ores, the primary source of gold will be from disseminated deposits exploited through large, open-pit mines. For the past 200 years, there has been a fairly constant ratio of about 31 g (1 oz) of gold to each person alive. If this ratio is to be maintained, annual gold production will have to rise from about 2.3 kt/a (73.9 million oz/year) to more than 3.1 kt/a (99.7 million oz/year) by the year 2000. To effect this increase, an unforeseen breakthrough in exploration or metallurgy is needed. Barring this, there will be pressure for an increase in the price of gold. This article traces the historical production of gold from 4000 B.C. - the earliest record of gold mining - to today and relates this 6,000-year record to advances in geological thinking, mining engineering and extractive metallurgy. It also proposes that man's thirst for gold, reflected in the price he will pay for gold, and his ability to find, mine and refine gold have combined to effect an equilibrium based loosely on the historical ratio of 31 g (1 oz) of cumulative gold production per each man or woman alive.

Jan 1, 1998

More than 100,000 people from 110 countries involved in the construction aggregates and ready mix concrete industries are expected to attend Conexpo-Conlagg '99 in Las Vegas, NV March 23-27. The exhibition, the largest of its kind in the Western Hemisphere, takes place every three years. It is held at the Las Vegas Convention Center, Las Vegas Hilton Center and Pavilion. The show serves as a venue for con- tractors and others involved in aggregates construction to view the latest in equipment, technology and services. More than 1,500 exhibitors will use more than 147,200 m2 (1.6 million sq ft) of indoor and outdoor exhibit space. Attendees include presidents and company owners, sales and marketing managers, general managers and project managers. An estimated 20% of the attendees will be from outside of the United States. New for the Conexpo-Conlagg '99 show is a 3,715- m2 (40,000-sq ft) Information Technology Pavilion. This event, organized by AIEIC Systems, will showcase computer technology for the architectural, engineering and construction industries. Shown in the pavilion will be the latest developments in cost management, estimating, bidding, project management and accounting. In addition, the Information Technology Pavilion will demonstrate the latest in computer-aided design software, systems and services. Conexpo-Codagg '99 will also emphasize live demonstrations of exhibitor's products. Individual exhibitors will demonstrate their machinery so attendees can see the latest technology in action. Because the Conexpo-Codagg exposition is so large, "shows within a show" have been created to help attendees locate the products and services best suited to their interests. Seven product concentration areas will be formed. Each area houses suppliers and manufacturers of similar products or services.

Jan 1, 1999

By Alan J. Reed

The Afton copper-gold mine is located in the southern interior of British Columbia, 16 km (10 miles) west of Kamloops and 257 km (160 miles) northeast of Vancouver. 'An aerial view of the property in 1976 is shown in Fig. 1. The Afton copper-gold ore body [27 Mt (30 million tons)] of open pit ore with a grade of 1.0% copper, 0.46 g/t (0.01 6 oz per ton) gold, and 4.1 g/t (0.12 oz per ton) silver, occurs within the Triassic Iron Mask pluton adjacent to its faulted contact with Tertiary rocks. The geological setting of the Afton ore body is described by Carr and Reed (1976). Rocks of the Paleozoic, Mesozoic, and Cenozoic eras outcrop in the vicinity of Kamloops, but the unit with the greatest economic significance is the Upper Triassic Nicola volcanic group and its subvolcanic dioritic intrusion, the Iron Mask pluton. The Afton ore body occurs at the northwesternextremity of the Iron Mask pluton immediately south of a deep graben structure that developed in post-Triassic time (Coast Mountains orogeny) and which was the focus of vigorous sedimentation and volcansim in Tertiary times. The Iron Mask pluton is a lenticular composite intrusion approximately 14.5 km (9 miles) in length in a northwesterly direction. The petrography of the Iron Mask pluton ranges from picrite and serpentinite to latite porphyry. Outcrops of individual petrographic units are generally elongate in a northwesterly direction parallel to the axis of the pluton. The Iron Mask pluton represents the moderately slowly cooled core of an oceanic fissure volcano which built up an island flanked by shallow-water sediments including reef knolls and which, during its later stages, intruded its own volcanic pile.

Jan 1, 1991

By R. Fields

Nevada is primarily known today for its nation-leading production of gold and silver. However, industrial mineral production continues to play an important role in providing construction materials to help make the state the fastest growing in the United States. Aggregate production in Nevada was about 20 million tons in 1991. Most of that was used in construction in the fast-growing Las Vegas area. The state leads the nation in the production of barite and mined magnesite and has significant production of lithium carbonate, diatomite and gypsum. Other industrial minerals produced in the state include specialty clays, silica, lime and dolomite and relatively small production in salt, perlite and dimension stone. Industrial minerals operations are subject to state and federal permitting requirements, especially in the areas of air and water quality and mined land reclamation. As in all segments of the mineral producing industries throughout the nation, the amount and complexity of regulations affecting industrial minerals has increased significantly in recent years. Nevada is no exception.

Jan 1, 1993

By P. N. Bradbury

The coal companies of today have to make all of their in-the-field managers MAINTENANCE PRODUCTION MANAGERS. By using a computer application to monitor all aspects of the daily production as well as the maintenance, a company can immediately effect a cost reduction by studying the down-time and delay trends on an everyday basis. This paper will outline how a company can use a program to not only put a stop to the increasing supply and maintenance costs but start trimming each of these cost centers while actually increasing the efficiency and productivity of the current work force.

Jan 1, 1991

By George M. Anderson

The extraction of industrial minerals is usually confined to relatively small mining operations. The recent COSMAR (Committee on Surface Mining and Reclamation) report found that 93% of all mines in the United States were of the small unit variety. Also, of the total number of mines in the U.S. (15,279) 96% were in the industrial minerals (non-metals excluding coal) category. To break it down further, 86% were sand and gravel, and crushed stone operations. Therefore, we are talking about a very large number of small mining operations. If these small miners can afford to hire a college graduate, what kind of training should this person have beyond the normal mining engineering curriculum to best serve the problems that he or she will encounter?

Jan 1, 1981

By Yasushi Arai

"Among Tokyo Metro’s approximately 200km of subway lines, the Tozai Line that connects Chiba Prefecture and mid-Tokyo experiences congestion of up to 199% at worst and relief of this has become urgent. Therefore, as it is imperative to increase the number of trains operating in the exceptionally congested area from mid-Tokyo going east, a large-scale renovation work is planned between Iidabashi Station and Kudanshita Station that will facilitate turn-back via 3 tracks. While ensuring the safe and stable operation responsible for about 1.35 million passengers daily, this highly difficult work of inner wall demolition and reinforcement of the side walls and floor slabs will only be implemented for 3 hours during late night. This paper discusses large-scale plans to improve turn-back facilities, and the methods of construction therein as an example of operational improvement of a subway network. 1) INTRODUCTION The Tokyo Metro Tozai Line (“Tozai Line”) opened over the entire 30.8 km distance from Nakano to Nishi-funabashi on March 29, 1969. It has the longest operating length of the nine Tokyo Metro lines, and was the first subway line to extend past the borders of the Tokyo Metropolis. Through train services with two other railway companies are available from the Tozai Line. Tozai Line trains join the Sobu Line of the East Japan Railway Company (“JR East”) and the Toyo Rapid Railway Line of Toyo Rapid Railway (“TR”) from Nishi-funabashi Station, and the JR Chuo Line from Nakano Station. The line is structurally distinctive in that 51% of it was built using the open-cut method, 43% of it is elevated and the remaining 6% was built when we used the shield method for the first time 1)2)3)."

Jan 1, 2016

By W Frint

An area in Southwestern Wyoming is rapidly becoming the soda ash capitol of the world. Starting only 20 years ago from a unique deposit of trona, the out-put has rapidly increased until now about half of the soda ash produced in the United States comes from this area. Chemically, soda ash is sodium carbonate, a large tonnage, widely used alkali. The largest single industrial use is in glass manufacture, where 25 tons of soda ash are used in producing 100 tons of glass. Other big users are the detergent and chemical industries. The trona deposits in the Green River basin of Wyoming, were formed about 75 million years ago as part of a geologic period when an ancient lake alternately went through periods of being a large fresh water or smaller brine lake. Today these deposits lie from 800 to 3000 feet below the surface in a semi-arid, almost desert region just west of the Rocky Mountain Continental Divide at an elevation of 6200 feet. In this area there is a prevailing westerly breeze and almost every afternoon the velocity reaches very windy conditions. Rainfall is minimal, being only 6-8 inches of moisture per year with an evaporation rate exceeding 24-inches. Most of the moisture comes in winter snows or summer thunderstorms. Temperatures are low with below zero weather dur¬ing most of the winter and early morning frost is not uncommon during the summer months. There are many trona beds varying in thickness from a few inches up to 15 feet. The deposits now being mined vary from 8 to 10 feet in thickness. The ore is mined by driving tunnels either via conventional explosives or with continuous boring machines. It is transported to the shafts via conveyor belts

Jan 1, 1972

By C. Richard Tinsley

Investment activity in the Pacific Rim of Fire has seen a phenomenal surge from epithermal gold exploration. Individual countries are attractive because of lower up-front minerals lease costs (United States, Canada), better geological prospects (Chile, Indonesia), or cheaper equities (Australia). Since the October 1987 stock market crash, large companies are shedding minority joint venture interests to focus on core businesses. Some vertical integration is evident in Japanese coal investments in the Pacific Rim. This article does not cover the aluminum industry oligopoly, which is multinational in character. Nor does it cover the many Canada to US minerals investments. It will be interesting to see if the new US-Canadian free trade treaty will reverse that investment flow. Cross-border investments The following examples should dispel any doubts about the significance of cross-border investment in the Pacific Rim. BHP, Australia's largest public company, has invested $US 4.5 billion in the JS for the following transactions 1984 $2 billion Utah Minerals 1984 $500 million Energy Resources 1985 $745 million Monsanto Oil 1987 $400 million 50.7% Hamilton Oil 1989 $378 million Pacific Resources Placer Dome, mainly through 76% owned Placer Pacific, has the following gold mine developments in hand including the date the project began, Placer Dome's ownership, project name, its location, and capital expenditures: • 1985, 53.1 %, Kidston, Queensland, $A 139 million; • 1989, 37.9%, Big Bell, Western Australia, $A135 million; • 1989, 60.6%, Misima, Papua New Guinea, $C252 million; • 1990,45.5%, Granny Smith, Western Australia, $A95 million; • 1991, 50%, La Coipa, Chile, $US276 million; and • 1991, 25.3%, Porgera, Papua New Guinea, $C1.1 billion. Australia's Western Mining Corp. (WMC), through a foray of off-market acquisitions in late 1987, acquired con¬trol of five Canadian gold companies for a $A488-million outlay ($C452 million) as follows:

Jan 1, 1990