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By Zay Jeffries

IMAGINE a spinning sphere of hot matter about 8000 miles in diameter, rushing through space at a velocity measured in miles per second, and you have a rough idea of what our earth is supposed to have been like about two to four billion years ago. By applying all of the science known to man and, more especially, by determining the velocity of earthquake waves at different depths, making comparisons with meteorites, studying densities, compressibility of rocks and the nature of surface rocks, a fairly definite conception of the general constitution of the earth has been obtained.1 The earth is supposed to have a central core rich in iron containing a substantial amount of nickel and small percentages of several other elements. The density of the core is assumed to be about ten times that of water and the diameter about 4200 miles. An intermediate shell of density about 4, and thickness of about 1800 miles, is sup- posed to consist of heavy rocks including sulfides, oxides, and silicates. The outer rock shell, probably about 100 miles thick and with a density around 2.8, is thought to be composed mostly of silicates, becoming in general more siliceous as the earth's surface is approached. NATURE'S SMELTING OPERATION Nature seems to have subjected the earth to a stupendous smelting operation, burying beyond reach much of the metal that man recovers in his smelting practices. We live on the surface of Nature's "slag dump" and must be content, for the near term, to recover for man's

Jan 1, 1953

By R. B. Russell

SINCE Cahn's¹ paper on plastic deformation in orthorhombic (a) uranium an increasing amount of work is to be expected on orientation of single crystals and preferred orientation in this metal. It would seem desirable to have a table of angles between crystallographic planes (hkl) and (HKL). Table I shows these angles as distances from (loo), (0l0), and (00l), and in Fig. 1 as a standard (001) stereographic projection. Only the locations of poles whose diffracting planes produce Cu Ka reflections up to 0 = 70.5" (i.e. (154) ) are given." The relative reflection of these planes are represented by circle diameters. It is hoped that the projection may also be used in making inverse pole figures, originally suggested by Harris.' Values of 4 were calculated from the expression hH kK 1L cos = hH/a²+kK/b²-lL/c² where the lattice parameters a, b, c, and the spac-ings d were taken from the work of Jacob and Warren." (They report a = 2.852 kX (2.8578 A), b = 5.865 kX (5.8768 A), c = 4.945 kX (4.9550 A).) The parameters reported by them may be subject to revision,4,5 accordingly the interplanar angles are listed to only the nearest tenth of a degree. References ¹R. W. Cahn: Acta Metallurgica (1953) 1, p. 49. ¹G. B. Harris: Philosophical Magazine (1952) 43, p. 113. 3C. W. Jacob and B. E. Warren: Journal ACS (1937) 59, p. 2588. 4J. S. Lukesh: Acta Crystallographica (1949) 2, p. 420. ³ J. Thewlis: Nature (1951) 168, p. 198.

Jan 1, 1954

By J. Konnerup-Madsen, T. Unlu, H. Stendal

Paper presented at the conference Economic geology in Europe and beyond II, models for mineral deposits in sedimentary basins, held in Keyworth, UK, 13-14 April 1994. The region includes the Deveci siderite/goethite deposit and the Hasancelebi, Karakuz and Kuluncak magnetite/goethite deposits; Deveci is the only mine in operation. The area consists of a serpentine-gabbro complex overlain by a volcano-sedimentary sequence hosting the iron ores. At least three generations of hydrothermal alteration have affected all rock types except the latest trachytic dykes. The Deveci deposits occur in a pyroclastic volcano-sedimentary sequence with shales and carbonates equivalent to the main mafic sequence, whereas the other three deposits formed contemporaneously with the intrusion of trachytic dykes. The deposits are of the volcanic-exhalative type, with syngenetic siderite in pillow lavas or stratiform layers the primary and main Fe-bearing mineral. In the west hydrothermal alteration has replaced siderite in pillow lavas with magnetite or has remobilised sideritic iron into magnetite veins

Apr 1, 1995

By Beevers J

The Ok Tedi Project is now a high production open-pit porphyry copper mine located in the Star Mountains of Papua New Guinea (PNG). At present, total daily production is 190 000t of ore and waste. Large scale drilling and blasting has only been in operation since 1988, prior to which all material was removed by ripping and dozing. This paper reviews the steps taken over the last 12 months in establishing a more efficient drilling and blasting operation and highlights the significant reduction in powder factor. These improvements have been achieved largely through the introduction of air-bags, controlled pattern expansion and an overall focusing on the operation by involving consultants, ICI's technical service and internal departments.

Jan 1, 1991

By Donald R. Rathburn, Jung K. Mok

An historical review and a survey of current practice in the application of fine dry grinding in the iron ore industry are given. Both closed and open-circuit applications are reviewed, and the advantages, disadvantages, and process considerations for these two systems are discussed. The ground ore temperature rise, and the cool-ing of ground ore and mill ventilation are also discussed, along with the agglomerating characteristics of dry ground ore. Screening during the production of high-grade lump ore for blast-furnace burden, particularly from recently developed ore deposits in Australia, South America, and Africa, has resulted in large tonnages of fine iron ore. Certain owners have decided to stockpile these fines until some later date. Others have either sold these fines "as is" for agglomeration at the steel plant or have established their own pelletizing plants to produce a premium quality agglomerate. In almost all cases some grinding is required prior to pelletizing. Most of these ores occur in the weathered state which may result in difficulty in the thickening and/or filtering stages when ground in a wet system. The resulting filter cake would probably require partial drying to provide a product suitable for the subsequent balling operation; however the partial drying and subsequent material-handling steps often produce random agglomeration. Normally, these agglomerates will cause problems in the green ball formation process. Thus dry grinding has developed as a solution to this problem. Most of the dry iron ore grinding installations utilizing the standard-type rod or ball mill are grinding high-grade natural ores that do not require beneficiation. Although power consumed per ton of final product is 120% or greater in dry grinding as compared with wet grinding, the additional power required for dewatering and handling a wet ground product can easily exceed the initial power savings. Dry grinding of raw feed and clinker has been practiced in the cement industry for many decades but its major application to the iron ore industry has taken place only within the past ten years. The successful application of dry grinding to iron ore has required the solution of several unique design and operating problems. The purpose of this paper is to review recent developments in fine dry grinding of iron ore for pelletizing and to discuss the various designs and operating parameters involved.

Jan 1, 1971

By W. Rostoker, R. P. Elliott, B. W. Levincer

Phase equilibria in the Ti-Cr-Mo system have been investigated for alloys containing 100 to 40 pct Ti in the temperature range 550° to 1300°C. Five experimental isothermal sections and a surface of incipient melting are presented in addition to a summary projection of the space. Seven vertical sections have been constructed from the isothermal sections. A STUDY of the system Ti-Cr-Mo was undertaken as part of a program sponsored by Watertown Arsenal toward the development of titanium-base phase equilibrium diagrams of potential technical importance to alloy development. The scope of the investigation included the composition range contained by the titanium corner and the line of 64 pct Ti (all compositions are by weight) and the temperature range 550" to 1100°C. A surface of incipient melting was constructed from measurements on a large number of alloys. The system Ti-Cr has been established.&apos;-? The phase diagram is characterized by a wide miscibility field of the solid solution at elevated temperatures and a eutectoid reaction of the type: (15 pct Cr) + TiCr, (685C). The a solid solution has a very limited capacity for solution of chromium (< 0.5 pct Cr). The intermediate phase TiCr2 has at best a very narrow composition range. It has been shown that two allotropic modifications of this phase exist. However, this behavior does not appear to be perceptibly reflected in the form of phase boundaries of the type + TiCr,. In the system Ti-Mo,9-10 the phase is stabilized to successively lower temperatures with increasing molybdenum content. There are no known intermediate phases. The a solid solution is limited to less than 0.5 pct Mo. Because of the very extensive range of the phase, the ternary system was ideally suited to the determination of the phase boundaries by the parametric method of Andersen and Jette." A parametric surface was constructed to provide the necessary basis for the application of this method. Preparation and Treatment of Alloys More than 60 alloy compositions were prepared for the study of this system. Alloy buttons of 10 grams were arc-melted in a nonconsumable electrode furnace using inert atmosphere protection and a water-cooled copper crucible. The construction and operation of this type of melting unit have been adequately described elsewhere.&apos;&apos; To insure complete solution of alloy additions, the buttons were remelted alternately on top or bottom as many as five times. This was accomplished by a suitable mechanism for "flipping" over the ingots. Iodide titanium (99.97 pct Ti) was used as the alloy base. An especially high quality chromium (99.9 pct Cr) was obtained from the National Research Corp. Molybdenum sheet (0.005 in.) of 99.9 pct purity was used.

Jan 1, 1954

The Howe Memorial Lecture, in memory of Henry Marion Howe, Past President of the Institute, was authorized in April, 1923, as an annual address to be delivered by invitation under the auspices of the Institute by an individual of recognized and outstanding attainment in the science and practice of iron and steel metallurgy or metallography, chosen by the Board of Directors upon recommendation of the Iron and Steel Division. The following were the Howe lectures and lecturers for the years indicated: 1924 What is Steel? By Albert Sauveur. 1925 Austenite and Austenitic Steels. By John A. Mathews. 1926 Twenty-five Years of Metallography. By William Campbell.

Jan 1, 1940

By William M. Baldwin

Jan 1, 1946

By J. D. Lowell, L. Quevedo

I will talk today about a porphyry copper exploration program now underway in the Amazon jungle in the southeastern part of Ecuador near the border with Peru. The project is unusual for two reasons: first the deposits are of Jurassic age, 153 m.y.o., which is unusually old for porphyry copper deposits and they may be the most significant pre-Tertiary age porphyry deposits known. Second, the district was found only six years ago which makes this the most recent discovery of a totally new porphyry copper district. The new porphyry district, known as the Zamora River Copper Belt, or the Corriente Copper Belt, is a north trending area 50 km long by 10-15 km wide, which is nearly aligned with the axis of the Jurassic age Zamora batholith and with the course of the Zamora river. Gencor in 1994 initiated a regional grassroots gold exploration program based on reconnaissance geologic mapping and geochem sampling which did not find a gold mine, but which identified the San Carlos porphyry copper system in April, 1995. In a later reorganization between Gencore and Billiton the Ecuador project was transferred to Billiton and between the Gencore work and Billiton’s a total of 10 porphyry copper systems were found over the next four years. In the period of 1997 - 1999 Billiton drilled a total of 11,000 meters of wide spaced core holes in the San Carlos, Panantza and Kutukus prospects. In October 1999 Billiton concluded a farm-out, joint venture agreement with Corriente Resources and Lowell Mineral Exploration for additional exploration of the Zamora property. This is funded by Corriente and managed by Lowell Mineral Exploration and a total of 28,000 m of core drilling was completed through August 2001. An immediate result of the Corriente Lowell project was the discovery of potentially commercial ore reserves in two new deposits at Mirador and Warintza. Additional closer spaced drilling was done in the Panantza deposit and additional drilling is planned at San Carlos, in targets related to Warintza, and elsewhere.

Jan 1, 2002

By E. C. Baker

The Bureau of Mines estimated the economic feasibility of investing in a directional hole methane drainage project in the Pittsburgh coalbed for 5 yr in advance of mining. This report estimates the capital investment and operating cost of recovering 325 MMft3 of methane gas per year and the selling price of approximately 317 MMft3 of gas per year. The labor, equipment, and supply requirements were determined from those of a previous directional hole drilled at the Emerald Mine, near Waynesburg, PA. The cost of equipment, materials, services, and labor are in third quarter 1982 dollars. They were obtained from vendors, contractors, and the U.S. Department of Labor. Findings indicate a total capital investment of $1,381,160. Annual operating cost amounted to $167,690. At a wellhead price of $2.05 per thousand cubic feet, the sale of approximately 317 MMft3 of gas per year results in a rate of return on investment of approximately 25 pet.

Jan 1, 1984

By K. J. R. Ford

"Significant advances in mining and metallurgical operations have occurred over the last two decades, to define ore bodies via geological mapping, mineralogical analyses, geostatistical models and resource reserve modeling. Metallurgical process measurement, controls and modeling have also significantly progressed, with advanced instrumentation, control software, data capture systems and simulation tools. This progress together with development of the science of geometallurgy has allowed geologists, mineralogists, miners and metallurgists to start working together to define geometallurgical ore units and link these to mine planning and projected metallurgical performance. However, application of full geometallurgical programs into existing mine-processing operations or into new “greenfield” projects has been slow. This is mainly due to higher costs, limited dedicated technical resources and little or no corporate leadership. Additionally, life-of-mine cash flow models, the “dollars”, have been largely driven by ore tonnage rates, pay-metal grades and fixed pay-metal percentage recoveries, with few or no geometallurgical parameters included.Here defined, the “electrons” represent intrinsic ore characteristics embracing chemical composition, mineralogy, gangue components and their associated fundamental metallurgical processing phenomena. With its ever expanding treasure chest of measurement and modeling tools, geometallurgy paints a much clearer picture of the “electrons” for the geologist and metallurgist. But to fully understand and realize the real net value of ores over the life of a mine, a comprehensive link of “electrons to the dollars” is essential. Intrinsic characteristics of geometallurgical ore units are by definition linked to their metallurgical processing, but importantly need also to be related to operating costs, capital requirements and revenue.This paper discusses this important linkage under topics of ore geology and mineralogy, metallurgical processing, waste disposal, environmental issues, metal refining, project engineering and lifeof- mine models. Topics are illustrated by multi-metal references and by case examples from gold ore heap leaching and manganese ore smelting projects. 1"

Jan 1, 2013

By Jean-Paul Drolet

"The ultimate aim of the Law of the Sea Conference, held under the auspices of the United Nations, is to ensure that all aspects of the use of the sea are covered by international law. The question facing the nations of the world can be stated as: "" Who will control and benefit from the use and the wealth of the sea?""The United Nations Conference on Law of the Sea - known as UNCLOS - which reconvened in New York during the latter part of August 1978 was the third such Conference in the UN&apos;s history. The concepts of sovereignty over the territorial sea and freedom on the high seas have remained fundamental to the international law o f the sea until our time. The legal regime based on these two concepts developed initially from state practice meant that the unilateral actions taken by one or more countries were eventually accepted and followed by others.It was not until 1958, during the first Geneva Conference on the Law of the Sea (pursued in a second Conference in 1960) that the Law of the Sea was codified and modified to a certain extent by the then independent nations of the world in the four multilateral conventions on territorial sea and contiguous zone, continental shelf, high seas, and fishing and conservation of living resources.A third Conference got under way many years later when the members of the UN met in New York at the end of 1973 for preliminary discussions . This meeting stemmed largely from the need to fill gaps in existing international legislation which did not cover the new uses of the sea. The Conference was subsequently reconvened a number of times - in Caracas (1974), in Geneva (1975) and twice in New York (1976) for what was called "" substantive negotiating sessions."" A sixth session was held in New York in 1977; a seventh, held in Geneva at the beginning of 1978, recessed and reconvened in New York at the end of August 1978. This is what is referred to, in international jargon, as the seventh session of the Third United Nations Conference on the Law o f the Sea. The following dates are the principal markers of a saga which began some twenty years ago with the purpose of regulating the use of the oceans."

Jan 1, 1981

By Leonard Weixler, Peter Halbach, Michael Jarowinsky, Johannes Post

Germany as an industrial nation is highly dependent on the import of mineral or metal resources. Sources which have not been considered until now are the marine mineral resources (MMR), which in recent times are enjoying more and more increasing interests and which might provide in the future a considerable contribution to the supply security on metal resources not only for the industrial countries. Backed up by the German government’s "National Masterplan Maritime Technologies" (NMMT) and corresponding industrial R&D-activities, the idea and the advantages of deep-sea mining is gaining more and more interests and supporters with respect to industrial and political considerations on strategic raw material resources as well as on the development of deep-sea mining technologies. The NMMT aims to initiate growth and increase the competitiveness of the German maritime industry on international markets and covers about 10 different marine and ocean technology sectors including deep-sea mining.

Sep 1, 2014

By P Williams, S Flynn, R Birchfield, R Simcock, R Toft, P Comeskey

Direct transfer, or community translocation, comprises salvage and replacement of intact æsodsÆ of vegetation together with underlying soil. It has been applied to New Zealand mine sites restoration of native grasslands, wetlands, scrub lands, and forest. It is an equivalent technique to æinstant lawn or tree gardenÆ, commonly used in urban landscaping. Two to six m2 scoops of vegetation, with up to 0.7 m of soil attached, and including root plates of trees and shrubs, are relocated from stripped areas ahead of mining to sites prepared for restoration. Direct transfer uses hydraulic excavators or face shovels and dump trucks, possibly with the aid of bulldozers and other earthmoving machinery. The main advantages of direct transfer, compared with sowing or planting systems for mine site restoration, are the recycling of plant and soil materials which were often wasted by burying under overburden materials, a significantly faster revegetation process, and restoration of the whole ecosystem (plants, animals, birds, invertebrates, and microbes). The main disadvantages are higher costs of stripping and dumping, a greater degree of machine operator skill required, and scheduling becomes critically important. To illustrate the key principles, this paper gives examples of successes and failures of the technique for a variety of New Zealand mining situations. Direct transfer has been successful for a range of communities, from fern wetland and sub-alpine tussock grasslands to 5 m-tall beech forest under storey and seral shrub land, and from temperate to sub-alpine climates. Successful examples show both rapid recovery of indigenous vegetative cover and conservation of habitat for birds and invertebrates. Failures have resulted from excessive death of plants because of inadequate soil salvage depths, acidic leachates, inappropriate handling of stripped sods by inexperienced machinery operators, or prolonged drought conditions immediately following relocation. Change in plant species composition has occurred where clumps of vegetation are too far apart, or shifted plants were too small - in both cases invasive weeds have smothered the original vegetation. Changes in hydrology can also have significant impacts. Our experience indicates that the advantages of direct transfer far outweigh the disadvantages and is now used as the preferred restoration method, where practicable, at mines where it has been trialled.

Jan 1, 2000

By Bruce Congleton

One year ago this month, we in Central Florida witnessed the beginning of a most exciting and glamorous attraction. After three years of construction and anticipation, Walt Disney World opened its gates near Orlando and during its first year of operation received a flood of over 10 million visitors---half of all who came to Florida last year! The side effects of this newest addition to Florida have been phenomenal. Traffic on heavy days has been backed up for 30 miles from the amusement park along a major interstate highway. Hotels and motels have been jammed packed for months, and reservations are still difficult to make. Gasoline stations, restaurants and souvenir shops are doing a booming business. Everywhere you look as you ride the highways of Central Florida you see the signs of growth. New hotels spring up almost overnight. Golf courses galore. New housing projects and apartments sprawl where orange groves used to be. New roads criss-cross areas which were once deserted. There seems to be no end to the steady influx of tourists and new residents to the Sunshine State. And it&apos;s mainly because that we are the Sunshine State that they come. Air and water pollution is and has been at a minimum in Florida. Pollution and emissions are fighting words among some groups dedicated to preserving the bountiful environment we share in Florida. Little wonder then that some of these people display concern when they learn that just 50 miles from the entrance to the Magic Kingdom of Disney, phosphate draglines strip away thousands of acres of land each year to extract one of our nation&apos;s most precious

Jan 1, 1972

By M. Muskat, H. H. Evinger

A methoD of calculating productivity factors for oil, gas, and water systems in the steady state is presented as an illustration of the quantitative application of the fundamental data on the flow properties of heterogeneous fluid systems. While the numerical results of the calculations cannot be applied directly to field conditions, because they are based on permea-bility data for unconsolidated sands and involve specific assumptions regarding the nature of the reservoir fluids, the methods of analysis and interpretation should havc significance in considering certain specific field situations when the necessary field and laboratory data become available. Moreover, it is felt that even under the idealized conditions to which the numerical calculations refer they should serve to give at least the orders of magnitude of the effects of gas-oil ratio and connate water on observed productivity factors. Within the indicated limitations, the computations imply that the foregoing factors can explain only a part of the apparent discrepancy between the homogeneous fluid productivity factors and those obtained recently in field measurements on the West Coast. IntroductioN Sufficient laboratory research has been carried out in the last several years on the fundamental features of the flow of heterogeneous fluids through porous media to call for consideration of what can be done with this type of information. It has, of course, already led to a, much clearer general understanding of the mechanics of oil production. However, examples of the quantitative application of the results of such laboratory studies are few in the literature. part of the explanation for this fact lies undoubtedly in the lack of sufficient laboratory data relating to practical fluids and sand systems such as would occur ill actual oil reservoirs. However, unless it can be shown that if such data were obtained quantitative applications could be made, serious doubt may be cast upon the desirability of carrying on further extensive experimental research work on fluid flow. The purpose of this paper is to present one approach to the problem of quantitative application of laboratory data to practical field problems. Because the published results on the basic experiments with three-phase fluid systems in porous media are limited entirely to uncon-solidated sands, the numerical applications made here will not pertain directly to any actual field situation. However, they should serve to illustrate what could be done with fundamental laboratory data if they were extended to cover the field of consolidated sands. From this point of view, it is hoped it will serve to encourage further laboratory research on this problem. The particular application to be treated here relates to the calculation of the productivity factors for oil-gas-water systems in the steady state. This specific problem seems especially appropriate for discussion in view of the recent publication by Johnston1 of the results of produc-

Jan 1, 1942

By Víctor Arguelles

El presente trabajo señala el panorama geológico de las zonas auríferas Gigante, Alaska, Culebras ubicadas en el departamento de La Libertad, donde existen numerosos sistema de vetas con cuarzo y pirita auríferos emplazads s en rocas granodioríticas y tonalíticas de edad paleozoica y tonalidades paleozoicas. En esta misma geografía, se encuentran la galena y marmatita escazas en las partes altas de las estructuras que longitudinalmente presentan recorridos de hasta 400m.

Nov 8, 1982

By C. Athanassopoulos

Geomembranes have been used in the mining industry since the early 1970s in solution and evaporation ponds, tailings impoundments, and heap leach pads. Traditionally, heap leach pad lining systems have consisted of a single geomembrane liner placed directly over a prepared subgrade of locally available soil. Heap fills are constructed by placing a layer of highly-permeable drainage stone (overliner) over the geomembrane. Crushed ore is then placed on the leach pad in 3- to 10-m (15- to 30-foot) thick lifts, sometimes reaching final heights of several hundred feet. The crushed ore is irrigated with a chemical solution which dissolves the precious metals from the ore. The nature of the chemical leaching solution depends on the metal being targeted. Low pH sulfuric acid solutions are generally used to leach copper and nickel; high pH cyanide solutions are used to leach gold and silver. The metal-laden pregnant leach solution (PLS) passes down through the ore pile and is captured in a drainage system. Metals are extracted from the leach solution and the solution is then recycled back onto the leach pile. When under load, geomembranes are vulnerable to damage from large stones both in the soil subgrade and in the overlying drainage layer. Although intact geomembranes are virtually impermeable, installed geomembranes will have a small number of holes due to imperfect seams or damage during construction and filling operations. These holes serve as open pathways for leakage into the soil below. Smith and Welkner (1995) estimated liner leakage rates ranging from 5 to 10,000 L/ha/day, depending on the type of heap pad liner and level of construction quality assurance (CQA). Thiel and Smith (2003) reported liner leakage rates up to 2,000 L/ha/day for a valley fill facility with heads ranging from 15 to 35 m.

Jan 1, 2011

By Owen R. Rice

Changes in coke hardness affect the working of the blast furnace, for soft coke is an obstacle to proper furnace operation. Soft coke is due to a low hydrogen-oxygen ratio in the coal charged; increasing this ratio increases the hardness of the coke. The best means of determining the hardness of coke is the combined tumbler and ball-mill. What is Good Coke? It is not always appreciated that the correct answer may be such a reliable forecast to the physical condition of the blast furnace, and incidentally its entire operation, that among the ordinary variations in other raw materials and also in operating conditions, it assumes a position of primary significance. Inasmuch as coke forms two-thirds of the total bulk of material charged, this assertion will not seem exaggerated, and in the subsequent discussion its applicability will be presented. Coke is the ideal blast-furnace fuel because it is strong and hard enough to resist the crushing and grinding effects of the furnace burden, and its porosity allows the ready passage of gas upward through the charge, and rapid combustion before the tuyeres. Coke deprived of its strength and with a cell structure physically frail and chemically susceptible to solution by carbon dioxide has its chief asset eliminated. When the melting zones are approached the fluid cinder trickling toward the hearth will envelope the small pieces of coke and form a sticky mass that will retard the free passage of gas. Blast pressure will then rise, driving will slow up and fragments of coke will lie inert before the tuyeres, rendered practically incombustible by their slaggy envelop. It is believed also that coke messes at cast are attributable to quantities of such coke floating unburned in the hearth. It has been correctly claimed that coke rendered small outside the oven possesses greater combustibility than that so developed in the

Jan 1, 1922

By Wallace W. Wilson

It scarcely is possible to read a new issue of any of the principal mining trade journals without noting some mention of a major new overseas mining venture with which one or more domestic companies are involved. These projects follow a fairly consistent pattern; most are large open pit mines with relatively low grade orebodies but huge reserves; the total price tag is in nine significant figures and half or more of the total cost is for infrastructure. West&apos; notes that nearly $7 billion is being invested annually for new mining projects and the expansion of existing mining ventures in the free world. He anticipates that by 1975 such investments will reach the $10-11 billion annual figure and that in the period 1972-76 total capital requirements can be expected to aggregate around $45 billion. West estimates that 75% of the total capital will come from internally generated funds. Conceivably, a substantially higher percentage could be attributable to external financing, especially if the trend of recent mineral development in Canada and Australia is any criterion, and including local sales of equity as a part of the package.

Jan 7, 1973