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By Karel Rössler, Petr Vítek

"The Ejpovice tunnels in Czech Republic were built by EPBM in soft Clyashale, and in weathered profile with low soil overburden. The segmented liner at the cross-passage openings required support, which would not interfere with the EPBM clearance envelope during the scheduled pull back of the EPBM through both tunnel tubes. For that reason support frames or radial bolting could not be used. Steel rods inserted into the neighboring segments during the ring assembly, and later grouted were tested and realized as an innovative solution. The paper presents practical experience gained with the segmented liner support during cross-passages construction. INTRODUCTION An innovative solution using the grouted dowels was developed and realized for sixteen cross-passage openings of the twin Ejpovice Tunnels, whose construction was part of the railway track Rokycany – Plzen modernization. The following paper described practical experience gained with the innovative support of cross-passage openings, which was realized by short steel dowels grouted within the segments of the EPBM segmented liner. The paper is a continuation of the paper published in WTC 2015, which described the design aspects of the grouted dowels support, while the following paper concentrated on the production, and the performance of the dowel support observed during the breakout for the cross-passages openings. The connection by grouted dowels was patented by Metrostav, a.s. Company THE EJPOVICE TUNNELS CONSTRUCTION The Ejpovice tunnels construction started in 2013. The start of the high speed train operation through the tunnels was planned for 2018. The project was funded by the state government with the support of European Union funds of up to 70%.The tunnels were excavated with one EPBM (Earth Pressure Balanced Machine) with the external diameter of 9.89 m. The segmental liner inner diameter was 8.7 m, and thickness of 0.4 m. First, the South tunnel tube was excavated from the East portal, then the EPBM was pulled back through the South tunnel, and the excavation was started from the same portal for the North tube. After the South tube was freed from the EPBM excavation operations the cross-passage construction started. Due to the short time schedule, in the North tube the cross-passage construction started while the tunnel was still under construction. Therefore, the cross-passage construction was performed concurrently with the segments transportation, and with the EPBM pull-back through the tunnel. There were 8 cross-passages along the tunnels with a maximum distance of about 500 m, Fig.1."

Jan 1, 2016

By David K. Parrish, Duane A. Labreche

Analyses of jointed, cracked, and fractured rock masses are needed in a variety of applications, including estimates of reduced elastic modulus for damaged rock, estimates of permeability changes as a function of stress changes, and estimates of relaxed regions due to excavation. A numerical model of a jointed rock mass, the compliant joint model, was used to study the response of a jointed rock mass near a circular excavation. The joint constitutive model was linear elastic in shear and nonlinear elastic in the relationship between normal stress and joint closure. Initial stresses were geostatic and representative of stresses in a granitic jointed rock mass approximately 300 m deep. The joint properties were based on values that are representative of joints in granite. The results from numerical simulations were compared with analytical results for stress near a circular opening in an elastic medium having reduced Young's Moduli to simulate jointing effects on the rock mass. The differences in response between the two models resulted from the differences in the symmetry of elastic properties, the shear modulus of the continua, and the constitutive relations in the two models. For example, the non- linear anisotropic elastic continuum described by the compliant joint model resulted in vertical stress concentrations near the side of the circular opening that were 25 percent higher than the vertical stress concentrations in an isotropic linear elastic medium. The equivalent Young's Moduli in the vertical and horizontal directions of the compliant joint continuum deviated by as much as 50 percent from the values assigned to the modeled region prior to excavations. The perturbations of the elastic Young's Moduli extended to distances of two to three radii from the opening.

Jan 1, 1986

By S. Hardcastle

Kidd Creek mine has recently completed upgrades of its primary ventilation systems enabling it to maintain a delivery of 1200 m3/s to continue mining ore zones extending to over 3000 m below surface. Following these upgrades the mine initiated a multi-stage review of their ventilation usage. The focus of these reviews, ranged from a brainstorming session of invited experts, through an evaluation of production plans to a detailed analysis of production data to determine if the ventilation system could be run more efficiently, thereby reducing the mine?s power consumption and associated operating costs. The initial review identified 1500 kW of installed fan power that could be eliminated from the primary ventilation system. The benefits of the subsequent analyses, so far, are not as measurable. The second and third analyses, respectively using long range production plan data and historic production data to determine ventilation requirements based upon diesel equipment, did not agree. Both were shown to have limitations, the future based analysis underestimating, and the historical analysis overestimating the requirements. Regardless of the failings of each method, important outcomes were achieved from the detailed analyses, namely, the ability for a mine to meet a forward analysis prediction of airflow depends on its ability to adjust the ventilation to meet the dynamic nature of the mining process. Also, to minimize total ventilation requirements, a mine must regularly redistribute its airflow; this not only reduces the total volume requirement but also increases the variability of the delivered flows which can provide further operational savings. Since the detailed analyses, the Kidd Creek mine has implemented a more frequent ventilation review and redistribution procedure; consequently, it now operates with an average delivery of 930 m3/s, which is 23% lower than in 2005 at the start of the review process.

Jan 1, 2009

By Nancy Bingham

The mining industry’s image is molded by what the public knows, or thinks it knows about mining. As Caterpillar prepared for the production of its educational video, Common Ground, the public’s perceptions about mining needed to be established. Before we could educate people about mining, we had to find out what they already thought. As those perceptions were analyzed, we were able to narrow the video’s focus to relevant, realistic approaches. We found out what people did not know about mining. And, most importantly, facts they should know were singled out - facts that could create more favorable attitudes. This research was instrumental in the final direction of the Common Ground project. What the public believes As these perceptions about mining were researched, it was found that the beliefs of the general public are dominated by four concepts. Quotations from interviewees are included with the discussion of each of these concepts. Figure 1 shows an overview of people’s beliefs before education.

Jan 1, 1994

By Nenad Spoljaric

Greensand, greensand marl, and green earth are names given to sediments rich in the bluish green to greenish black mineral known as glauconite. The word glauconite is derived from the Greek word glaukos, meaning bluish green. The term "greensand" as a rock name for a glauconite-bearing sediment is more appropriate than "greensand marl," a term that has been doggedly perpetuated in the literature. Because of its potash and phosphate content, greensand was mined and marketed as a natural fertilizer and soil conditioner for more than 100 years. The advent of manufactured fertilizers with adjustable nutrient ratios led to a decline in the use of greensand in agriculture. The material has since been recognized as useful in water treatment. Unfortunately, despite large reserves and world- wide distribution, glauconite has not been utilized to any significant commercial extent because no major application has been found for a substance with its chemical composition and properties. This is probably due mostly to a paucity of research on its potential commercial uses. Extraction of potash received considerable attention during and just after World War I. Because of relatively high extraction costs and a generally low potash content (viz., less than 8%), glauconite lost its appeal as a source of this commodity. Historical Background Greensand was used as a fertilizer in New Jersey in the latter part of the 1700s. During the early 1800s its use became more common; applications of as much as 22.5 kg/m2 were sometimes made, although recommendations for agricultural use suggested 4.5 to 11 kg/m2 (Tedrow, 1957). Many crops, especially the forage type, were said to improve with greensand application; however, because of its slow release of potash, large quantities were required. Certain greensands that contain sulfur and sulfide minerals are harmful to plant growth, and these were classified as poison, burning, or black marls. The availability of higher grade potash salts from other mineral sources and the manufacture of prepared fertilizers displaced the agricultural use of greensand during the latter 1800s. During the mid-1800s the greensand industry, centered in a small section of the eastern United States, grossed more than $500,000/y. Toward the end of the century, however, annual production had dwindled to less than $100,000 in value. By 19 10 there were only six or eight greensand producers grossing less than $5,000/y each (Tyler, 1934). There was a brief revival of the US industry during World War I because of the curtailment of foreign potash, especially from Germany. During the latter 1940s and early 1950s greensand was again recommended as a food nutrient for plants and farm crops. Agronomic studies discussed its potential as a soil additive that gradually releases potash and many trace element nutrients essential for plant growth (Tedrow, 1957). Greensand was sold with the idea that it would condition soil and absorb and hold water while its base exchange properties would release trace elements. For a short time glauconite was used in certain parts of New Jersey as a binding additive in the brick industry, and in the 1800s it was used for making green glass (Cook, 1868). In the early 1900s the base exchange properties of glauconite were recognized for water treatment and the mineral gained acceptance as a water softener. Mansfield (1922) does not mention base exchange even though this phenomenon was known in 1916 or earlier. From 1916 through 1922 several patents for the use of glauconite as a water softening agent were granted. A method was also patented for treating greensand to improve it for water softening and ready regeneration with common sodium chloride brine (Borrowman, 1920, Spencer, 1924, Kriegsheim and Vaughan, 1930). Treated glauconite, on contact with water containing magnesia or lime, takes up magnesium or calcium ions and releases sodium ions. This exchange is limited to the outer surface of glauconite grains, and when all the surfaces have absorbed their capacity, the grains must be regenerated. Regeneration, simply stated, consists of treating or backwashing the glauconite with a sodium chloride solution, which replaces the hard water elements with sodium, thus reviving the glauconite. The process has become more sophisticated due to competition among companies in the water softening business. Greensand products for water softening generally consisted of several different grades distinguished by the particular treatment the glauconite was given during processing. The standard greensand water softener was produced from natural glauconite that was only washed and classified. Its characteristics for water softening are given in [Table 1].

Jan 1, 1994

By Qinbo Cao, Qianshan Peng, Heng Zou, Xingcai Yu

Rutile ore is an important resource for the production of titanium products, and flotation is an efficient method to enrich rutile from its deposits. Motivated by strong commercial demand for titanium metal and alloys, substantial efforts have been made to improve the flotation efficiency of rutile. Styryl phosphonic acid (SPA) and salicyl hydroxamic acid (SHA) are commonly used as collectors for rutile flotation, and lead (Pb) ions can be used as activators for rutile flotation with SPA or SHA. Xanthates have a price advantage over SPA and SHA for the flotation of sulfides as SPA and SHA prices are higher than xanthate prices. In this work, we found that when rutile is activated by lead ions, amyl xanthate is an efficient collector for rutile flotation at pH 8. A slightly basic slurry can be readily obtained. Moreover, the price of amyl xanthate is lower than that of SPA or SHA. In this regard, this flotation strategy has the potential to be used in industry. Furthermore, the adsorption features of amyl xanthate on the Pb-activated rutile surface was investigated by experimental methods, which provides insight into the role of lead ions in rutile flotation.

By Terry Mudder

Long-term anaerobic biochemical treatment for draindown of residual solutions is a cost-effective way to close a heap-leach pad. This article presents a laboratory evaluation of anaerobic biochemical treatment of cyanide heap-leach pad solutions. The traditional approach to heap-leach pad closure is to rinse the pads with multiple pore volumes of fresh or recycled treated water. The effluent from an initial rinse is often treated and recirculated until the solutions passed through the heap meet the appropriate numeric and narrative water quality standards. Column rinsing tests are completed during project planning to determine the number of pore volumes of fresh or recycled treated water required to rinse the pad to meet long-term closure requirements. A traditional closure plan generally includes provisions to sample the rinse effluent and rinsed solids (the Meteoric Water Mobility, Procedure or USEPA 1312) to verify that chemical requirements are being met.

Jan 1, 1995

By Hans von Michaelis

The revolution in development of new technology and practices in the gold mining and metallurgy industry continues unabated despite the ups and downs in the gold price. Some of the new cutting edge technologies are listed in Table 1 overleaf. There is room to discuss just a few of these here, but many more are identified and described in RANDOL (1992). Cutting edge advancements in gold recuperation, can be sorted into three categories. The first category includes fundamental advances that offer major improvement with significant economic benefits. Second would include evolutionary developments that offer smaller, but nonetheless commercially valuable improvements. Finally there are those "advances" that are interesting but of trivial or question­able economic benefit to industry. It is essential to adopt a "systems approach" philosophy towards developing and applying new technology. Practical innovation often comes about as a result of having to solve a problem. Innovation for innovation sake is an ego trip. Environmental management has become an important part of the system and the environmental implications of new processes and practices in the mine and mill have to be carefully considered for potential benefits and/or liabilities.

Jan 1, 1993

By N. A. Abdel-Khalek

Laboratory flotation tests were carried out on six Polish samples of different rank. Each coal sample was screened into 7 size fractions. The floatability of size -by- size for various size ranges for different samples was investigated as: well as the original samples. The results showed that in flotation of size -by -size, the intermediate size had the maximum floatability. The range of this intermediate sizes varied with the rank of the coal. Entrainment was shown to be an important mechanism to the recovery of fine particles in flotation of the original samples".

Jan 1, 1989

By H. Burger

For mine planning in the hardcoal industry the reliable prediciton of the properties of a deposit-both ahead of the zone to be worked as well as of zones at depths not yet developed - may help improve the production results of workings. With the wide spacing of exploration drillings usual in the coal industry, it is hardly possible to establish adequately reliable plans just by simple kriging methods. During the exploration phase a decision has to be made whether the zone ahead of a face area is economically profitable and, in addition, accessible and safe in order to be included in the production planning. It is, first of all, important to gather global information on certain parts of the planning area it the form of local estimates. Moreover, cut-off problems play a critical role, e.g. if there are set cut-off thicknesses as a criterion for minability or if safety aspects have to be considered. Conditional simulation appears to be a useful geostatistic method in order to localize or predict areas of potential rock burst hazard - based on geological criteria in conjunction with the guidelines by mining authorities - in the zones ahead of a working. It is a means of providing an objective basis for the evaluation and planning of mining activities.

Jan 1, 1986

By Timothy C. Smith, S. Andrew Jacobs, Douglas E. Gonzales, Sandy J. Schexnailder, Carl Urban

At the Schwartzwalder Mine (Cotter Corporation, Golden, Colorado) ion exchange resins have been used in mine water treatment experiments. The experiments, initiated in October 1979 and currently in progress, demonstrate that mine water uranium values can be reduced to levels as low as 10 ppb. Duolite® A-101D, a strongly basic anion exchange resin, was tested in laboratory-scale columns (1 inch diameter) initially and then in pilot-scale columns (4 inch diameter), using both co-current and counter-current operational modes. Observations and conclusions resulting from these studies can be summarized as follows: (1) Duolite® A-101D appears to have successfully extracted uranium at influent levels of approximately 2.0 ppm over multiple loading and elution cycles, consistently producing effluent concentrations as low as 10 ppb uranium. (2) Based upon present test data, counter-current regeneration appears to be the key to successful operation. Upflow loading and downflow elution are the preferred modes for service and regeneration, respectively. (3) Filtration is a necessary pretreatment to remove fine clay and inorganic precipitates that will foul the resin, causing excessive pressure drop and poor loading and elution kinetics. (4) This waste treatment application is unique in that it offers the opportunity to recover some or all of the capital investment in the treatment facility

Jan 1, 1980

By Gary S. Brierley, James R. Lambrechts, Andrew F. McKown

Various innovative Ground Improvement techniques have been proposed and applied to facilitate construction of the Central Artery/Tunnel Project in Boston. Given in this paper are discussions of the extensive use of deep soil mixing and jet grouting, and passive construction dewatering applications that are associated with the Design Sections D009A, D007A, and D019E.

Jan 1, 1999

By Gunnar Sparrman, Börje Ahlgren, Sten Rosenström

Starting in 1967 two major hydroelectric power projects have been implemented in East Africa viz. Kafue Gorge in Zambia and Great Ruaha in Tanzania. The two projects have similar characteristics and each consists of an underground power plant, a dam in connection with the power plant and a reservoir dam. The power plants are both designed and constructed according to principles applied in Scandinavia for a long time. Each consists of a headrace of a horizontal unlined rock tunnel with a length of about 10 km, vertical penstock shafts, machinery and transformer halls in large rock caverns and a tailrace of an unlined rock tunnel with a length of about 1 km. The head of the power plant of Kafue Gorge is 400 m, Great Ruaha 175 m, the capacity is 900 MW and 200 MW respectively. Both plants were executed in one stage, but building and erection works were made in two stages. However, the power plants show some interesting differences in design. The power plants are briefly described in the following, special regard being paid to the excavation works. GEOLOGY General The foundation of Eastern and Central Africa is made up of ancient crystalline rocks, consisting of sediments, lavas and intrusives, mostly intensively altered by repeated metamorphism. This repeated metamorphism - dynamic, ther-

Jan 1, 1979

By R. W. Ballmer

Prior to initiating construction of a new mineral development project, sponsoring organizations must be convinced that the operation will be viable. Proof is typically provided by the feasibility study. Considerable man hours will be spent in assessing and evaluating data on the deposit, its environment, and the means of development. Impact studies must be made for various scales of operation, inclusion of by-products, new methods of treatment, deferent levels of integration, and infrastructure configuration. Examples of current materials handling cost estimates are provided from the ongoing investigation in which Amoco is a participant at Ok Tedi in Papua New Guinea and Gag Island in Indonesia.

Jan 1, 1979

By Michael J. Rinker, R. V. Nicholson

Waste rock and tailings from a proposed nickel-copper mine were evaluated extensively for potential on-land and under water disposal. Standard humidity cell and column tests were conducted over a two year period and underwater tests were conducted for more than one year. Nickel concentrations or release rates from the waste were consistent with nickel to sulphur ratios in the solids. This relationship provided a tool to assess the risk of metal leaching in wastes using nickel and sulphide assays. Nickel release and mobilization was found to occur for both oxidizing leach tests and under water tests even when pH values exceeded 7.0. Geochemical model calculations showed that iron oxyhydroxide solids can scavenge nickel from leachate and that the nickel inventory can be released from solids at relatively lower, but neutral pH values.

Jan 1, 2000

By David W. Lillie, Pier A. Abetti

This paper reports on a study of the impact of fast growing new technologies on the market for copper over the next 15 to 20 years. The greatest threat is clearly the inroads of fiber optics on the traditional market for copper in communication cable. Opportunity areas identified include heat pumps, solar power and heat, desalination, electric vehicles and others. The overall impact of new technologies on copper is expected to be modestly positive if adequately encouraged by effective R&D.

Jan 1, 1986

By George W. Toth

In a recently completed research project for the U.S. Bureau of Mines - Twin Cities Research Center, a computerized costing procedure for uranium in situ leach mining was developed by the NUS Corporation. This costing procedure, termed a cost model, employs a process engineering approach for estimating total project costs as well as equipment and manpower requirements for uranium in situ leaching operations in either Texas or Wyoming. 80th capital and operating costs are generated by the model along with the overall production cost/pound U3O8 subject to a known rate of return. Conversely, rate of return on equity can be solved for, subject to a given price of yellowcake. During the course of the research effort, this cost model was applied 50 typical site conditions in Texas and Wyoming. Sensitivity rests were conducted for numerous key parameters to determine the cost influence attributable to incremental changes In parameter values. The results of these sensitivity tests along with a description of the in situ leaching cost model have been documented as Bureau of Mines, Mineral Research Contract Report No. J019912, "Cost and Sensitivities Analysis for Uranium In Situ Leach Mining," dated March 1981.

Jan 1, 1981

By Michael Chender

The rapid and continuing expansion of computer and communication capability is giving birth to profound changes in the business environment. Some commentators hold that the basis of the world economy has already shifted from industry to information. Regardless of the overall implications of these changes, it is now clear that every company potentially has both access to and a need for much more information for decision making than was the case a few years ago. The importance of information to the mining industry has been underlined by the rash of unexpected economic and political developments and by the accompanying market volatility that have marked the past decade. It should be abundantly clear to even the smallest mine operator that the price for his output can be instantly affected by unexpected developments halfway across the world. Nevertheless, many mining companies still are much less sophisticated about information than they might be. For many, the historical feeling that information is an unnecessary luxury for a production-oriented business still seems to linger. On the other hand, the overwhelming volume of source material, uncertainty as to its accuracy, and the problems of finding relevant material when needed, presents stumbling blocks to viable systems of information management. Introduction When a company needs certain information, it has two basic alternatives. It can either research and develop the information in-house or pay for someone else to do it. Few mining companies have the in-house capability to assemble information needed for careful planning. On the other hand, companies often engage consultants to find information that is in fact easily accessible. All too often companies give up on procuring needed information because of the frustration of not being able to find it, and of not wanting to pay seemingly exorbitant sums for someone else to produce it. The result is poor planning. This article addresses two aspects of the information problem-finding the right sources and then accessing the particular information desired, especially as it pertains to nonferrous metal exploration and development issues. In the first section, major English-language sources that report on exploration and development (excluding primary sources of geological information, such as technical journals) are discussed.* In the second section, some available techniques for efficiently accessing this information are presented, focusing on the new MINESEARCH database system. Part One: The Information Following the News The most obvious way to follow exploration and mining developments from a distance is through regular mining media. Many active mining districts have local newspapers, usually published in the district's major towns, that give extensive coverage to miningrelated activities. For instance, to follow activities in Idaho's Coeur d'Alene silver district, one might subscribe to the Kellogg Wardner News and/or the Wallace Miner. Similarly, one might get the Sacramento Bee for news of current mining developments in north-central California. The American Metal Market, published in New York, is the daily newspaper that covers the metals industry as a whole, both in the US and abroad. Its coverage is weighted towards the refining, manufacturing, and consumption end of the business, but it frequently carries stories on mining activity, company dealings, and market outlooks. For news of major mining companies, the daily Wall Street Journal provides occasional coverage of North American companies, while the Financial Times of London serves as probably the best single source for worldwide company information. International Coverage There are three metals industry weeklies that have broad international coverage and readership. These are Metal Week, Metal Bulletin, and Mining Journal. Each has its strengths. Metals Week, a McGraw-Hill newsletter, focuses primarily on news of the metals markets, concentrating on those developments that are seen to most directly affect the price of nonferrous metals. Metals Week is strongest on North American news. Metal Bulletin, published in London, is particularly strong on

Jan 4, 1983

By John M. Marek, David E. Nicholas

INTRODUCTION The purpose of this article is to outline the data requirements for selecting a proper underground mining method and to discuss the general steps taken in selecting that method. Determining the appropriate mining method is an iterative process that continues throughout the life of a mineral deposit. We will discuss the subject from the standpoint of a feasibility study, where a realistic assessment is necessary in order to determine investment merit. The feasibility stage of a project is that point where the drilling program has defined sufficient geologic reserves to consider mining the deposit but little or no underground development has been done. Primary parameters for consideration in choosing a mining method are 1) geometry of the deposit; 2) distribution of grade; 3) rock mass strength for the deposit, as well as the hanging wall and footwall; 4) mining cost and capitalization requirements; 5) mining rate; 6) type and availability of labor; 7) environmental considerations; and 8) other site-specific conditions. Of these parameters, the first four have the most impact on determining the general mining method to be employed.

Jan 1, 1981

By Franklin J. Stermole

The current financial state of the mineral industry, in general, is bad. Economic prospects for improvements in the near future are uncertain. What will improve mineral investment economics so the mining industry can return to a more normal (in terms of past experience) production level? Basically, mineral commodity prices must rise. They must rise to economically justify reopening closed mines and for management to seriously consider expansion or development of existing and new mines. With the worldwide economy depressed for more than a year now (longer for most segments of the mineral industry), supply/demand relationships for mineral commodities are such that prices are depressed-except for precious metals. In investment analysis of the economic potential of existing or new investments in any industry, product price generally is one of the key parameters having great impact on the economic viability of projects. Petroleum and synfuels industry development contracted last year for the same product price reasons that have brought mineral industry development to a standstill. Much of the new mine development activity now underway or in the serious planning stages around the world involves precious metals ore body development simply because precious metal prices are high enough now or are projected to be high enough in future production years to give overall satisfactory project economics. It will take significant improvement in nonprecious metal mineral commodity prices in 1983 to develop significant new mine investment interest except in very high grade ore body special situations. Mineral Investment Decision Making Before progressing further with the discussion of mineral investment considerations for the coming year, it should be emphasized that mineral investment decision making-like all industry or individual investment decision making does not relate just to economic considerations. Investment decision making should and generally does involve three analyses: • Economic analysis • Financial analysis • Intangible analysis Economic analysis evaluates the relative economic merits of investment situations from a profitability viewpoint based on discounted cash flow analysis of projected investment revenues and costs. Financial analysis, on the other hand, refers to where and how the funds for proposed investments will be obtained. Regardless of the project's economic potential, if you can't finance it, the project will not be done. Intangible analysis considers factors affecting investments but which cannot be quantified easily in economic terms. Typical intangible factors are legal considerations, public opinion, goodwill, environmental and ecological impacts, and regulatory or political considerations, to name a few. New mine development investment decision making in the US has been impacted heavily by intangible considerations in the past decade and will probably continue to be impacted by them in 1983. There is a common tendency in literature and management practice to interchange the terms economic analysis and financial analysis. This often leads to confusion about the rationale for investment decisions. For example, in the past year a majority of companies in all types of industries cut back budgets for new projects. Often this was done not because new project economics were unsatisfactory, but because cash flow from existing operations was reduced compared to previous years due to the recession, and debt service requirements were high from existing loans so new borrowing was undesirable. For financial reasons, in other words, many projects were shelved last year. That included some precious metal mining projects and many petroleum projects. Many other projects were shelved for economic reasons (sometimes combined with financial reasons in the case of marginal economic projects). New mine development for copper, lead, zinc, molybdenum, iron ore, and synthetic fuels are a few examples. Economic Uncertainty and Financial Considerations Mineral project analysis has always involved a lot of uncertainty with respect to determining ore grades, tonnage of producible reserves, operating and capital cost projects, and mineral commodity prices estimates. The wide swings in mineral commodity prices in recent years and the almost impossible task of projecting future prices with any degree of confidence or accuracy concerns mineral project investment decision makers. In developing a new copper or silver mine, it is not today's price of copper or silver that is relevant to economic analysis of the mine, but what the price will be during the producing years. There is no way to avoid projecting the escalation (or de-escalation) effects on revenues and costs. To analyze a project in terms of today's dollar revenues and costs implicitly assumes that escalation will not change today's project costs and revenues; or that, if they do change, the project economics will be unaffected by the changes. This often is not the best or even a realistic assumption. The inherent uncertainty associated with historical mineral price swings is exacerbated in 1983 by the uncertainty of when

Jan 2, 1983