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By Andrew Kaczmarek

The mining industry is enjoying a much needed and long awaited increase in demand for natural resources. However, consolidations in the mining and mining service industries, along with a generational departure of experienced industry professionals, is challenging today’s mining companies. These challenges are not only in maintaining their existing operations, but also in securing qualified resources for developing new projects. These challenges are compounded for junior mining companies. They oftentimes lack for operating properties to draw experienced professionals from. Also, juniors have to compete with the majors’ “mega-projects” for experienced project personnel from the reduced ranks of engineering companies. This article discusses some strategies developed by Anatolia Minerals Development (Anatolia) in developing its Çöpler gold project in central Turkey.

Jan 1, 2006

By M. R. Shahan, W. R. Reed, J. P. Rider

Roof bolter operators may be exposed to high respirable dust concentrations on continuous miner sections with blowing face ventilation when bolting is performed downwind of the continuous miner. One solution to reduce the high respirable dust concentrations is to use a canopy air curtain (CAC) to deliver clean air from a filtered blower fan directly to the bolter operators under the canopies. The influence of CAC installation in the airflow and dust dispersion around the location of the roof bolter operator can be evaluated by using computational fluid dynamics (CFD). This study, performed by the National Institute for Occupational Safety and Health (NIOSH), considers two scenarios: (1) a roof bolting machine in the center of the entry for installation of the fifth row of bolts from the face, and (2) a roof bolting machine positioned close to the face for the installation of the last row of bolts. In both scenarios, the bolting machine is placed in an environment which contains 6.0 mg/m3 of respirable dust and is ventilated by a blowing curtain with 3000 cfm (1.42 m3 /s) of air. This environment is used to simulate the roof bolter machine operating downstream of a continuous mining machine. Two operation positions are simulated at the same bolting location: dual drill heads in the inward position for two inside bolts and dual drill heads in the outward position for two outside bolts. The influence of the CAC on airflows and dust dispersion is evaluated with the CAC operating at 250 cfm (0.12 m3 /s).

By Nathaniel Arbiter

In contrast to pyrometallurgy's 6000year history in metals production, hydrometallurgy is of relatively recent origin. The earliest reference to it was in the 16th century, with the first applications to copper in the 17th and 18th centuries. In the 19th century, increased demands for pure metal resulted in the development of electrolytic refining, and early in this century electrowinning. The rapid growth in copper production in the 20th century, particularly in the United States and Chile, stimulated the development of new technology for leaching and for the recovery of copper from leach solutions. In the past 25 years, solvent extraction has become a major factor by permitting novel leaching technology that produces dilute or complex solutions. In addition, solvents other than sulfuric acid, and chemical methods for precipitating copper metal are now of increasing interest. These are trends that should grow in importance with the need to process lower grade and more complex materials. The evolution of copper hydrometallurgy is reviewed. Key factors in recent major developments are presented with details of specific operations and with trends for the future indicated. The relative importance of copper hydrometallurgy is compared with that of pyrometallurgy in the light of probable changes in ore supplies and character.

Jan 1, 1994

By Rafael de Araujo Silva

As ligas ß-Ti têm sido consideradas materiais com potencial para armazenagem de hidrogênio no estado sólido. A adição de elementos de liga estabilizadores da fase ß, tal como o Nb, retém esta fase metaestável em temperatura ambiente. Neste trabalho a liga Ti-40Nb (at.%) foi produzida via fusão a arco e suas características microestruturais foram caracterizadas visando avaliar os efeitos da aplicação da deformação plástica severa (SPD, severe plastic deformation) e da hidrogenação. A laminação a frio sob atmosfera de Argônio foi a técnica de SPD escolhida. Os resultados principais mostraram que é possível hidrogenar a liga fundida Ti-40Nb em temperatura ambiente após laminação a frio. Os efeitos da deformação plástica severa na microestrutura da liga, como a introdução de discordâncias, foram importantes para o aperfeiçoamento da cinética de absorção em temperatura ambiente (25 °C). Após a dessorção da fase hidreto (CFC) a microestrutura volta a ser constituída pelas fases ? (CCC) e ?” (ortorrômbica).

Aug 17, 2017

By Izabela Vieira Teixeira Neves

Os aços inoxidáveis ferríticos estabilizados com nióbio apresentam grãos mais refinados e uma recristalização mais homogênea quando comparados aos não estabilizados. Contudo, em seu processamento industrial, mais especificamente na laminação a quente, utiliza-se um recozimento antes da etapa de laminação a frio e do recozimento final, visando a homogeneização da microestrutura de entrada. Objetivando a melhoria das propriedades de estampagem e soldagem em aços com adição de Nb, bem como uma possível redução de custos com a eliminação do recozimento após a laminação a quente, foram realizados testes com o aço inoxidável 430 estabilizado com Nb de forma a acompanhar a evolução de sua microestrutura e textura após ser submetido à laminação a frio com 80% de redução e recozimento a tempo constante (900 s) e diferentes temperaturas, 400°C a 1.000°C, partindo-se de ambas condições iniciais. A quantificação da recristalização foi feita através da fração amaciada em função da temperatura, obtida pela curva de microdureza Vickers. A interpretação da textura foi obtida por exames por microscopia eletrônica de varredura e difração de elétrons retroespalhados (EBSD). Para o encharque de 900 s, a recristalização se inicia a 700°C. A 750°C o aço se encontra completamente recristalizado, alcançando um tamanho de grão da ordem de 8,0 µm. Os resultados mostram que o aço não recozido após a laminação a quente apresentou grãos mais refinados e ligeiramente menores. Além disso, notou-se o aumento da fibra gama e redução da fibra alfa em ambas as condições de processamento à medida que a recristalização progredia.

Aug 8, 2018

By Davies S. G, Mackey L. C

The oxidation of iron and nickel sulphide concentrates, and the dominant sulphide minerals which comprise them, has been studied under ignition conditions using thermogravimetry (fG). The concentrates were derived from various minesites and they showed differing tendencies to ignite. Ignition temperatures ranged from 416 to 488°C and the extents of reaction, measured at 500°C, varied from 64 to 88 percent. The reactivity of the least reactivematerial was improved significantly by grinding. Particles <63/lm showed 85 percent oxidation compared with 55 - 65 percent for particles >63/lm.Examination of the individual sulphide minerals revealed that these materials also have significantly different degrees ofreactivity and are subject to particle size effects. For particles <45/lm, the ignition temperatures were as follows:ò pyrite and violarite 380 - 385°C; pentlandite 425 - 430°C; and pyrrhotite 470 - 475°;ò for particles >90 /lm, the ignition values were: pyrite 395 - 400°C;ò violarite 430 - 435°C; pyrrhotite 540 - 545°C; and pentlandite 560 - 565°C.Using the data on the individual minerals it was possible to rationalise the differing degrees of reactivity of the concentrates. The role of the most reactive constituent in initiating the ignition reaction has also been discussed.Finally, the results of this work were found to compare. favourably with the behaviour ofthe concentrates in industrial and pilot-scale flash smelters.

Jan 1, 1989

This article focuses on TurkeyÆs gold potential with respect to exploration, development and operation after 1985. Apart from TurkeyÆs geology, which offers a substantial number of volcanic-associated gold (Ag) and gold-copper (Au-Cu) projects, there are numerous other factors which make the country a favourable place for mining. Turkey has a mining history which goes back to pre-Roman times and an excellent mining code which ensures security for long-term production. In the country, the Government and local villagers are very positive and the country works extremely well logistically with excellent road and telecommunication links. The opportunities for new discoveries in Turkey are very high. Moreover, Turkey has its eyes turned west as it moves towards joining the European Community and it is no surprise that international companies believe it has got its timing as well as its partner relationship right. Newmont, Teck Cominco, BHP Billiton, Rio Tinto, Eldorado Gold, etc all have direct or indirect interests in Turkey, as do an increasing number of midtier and junior exploration companies. Turkish Koza Gold Mining is the first Au producing company of Turkey. The Eldorado Gold owned 245 t Kisladag Au deposit in Western Turkey is currently also producing Au. In the meantime Anatolia Minerals Development is advancing the 131 t resource at the C÷pler Au deposit in North Eastern Turkey. These are significant world-class deposits. Further encouragement for investment in the Au mining sector has been provided by the introduction of a new mining law in 1985. Foreign investments in the country were encouraged and have seen a rapid increase in the last two decades. Gross domestic product (GDP) growth is in excess of five per cent per annum, inflation is down from 70 per cent to single figures, the budget deficit has been cut by 40 per cent to 11 per cent and industrial output and productivity are increasing rapidly. Turkey is politically and economically stable, is a member of the European Customs Union, has a supportive mining legislation, is highly prospective and under-explored and hosts significant recent gold discoveries.

Jan 1, 2007

By R. M. Owens, J. F. Lupo

The Shirley Basin Uranium mine, located in southeastern Wyoming, USA, was an open pit mining operation consisting of a series of several open pit mines excavated into poorly consolidated sandstones, siltstones, and claystones. Since the initial open pits were developed in 1969, slope failures have plagued the mine and mining operations. These slope failures have persisted into the current mine reclamation period. When the mine was first developed, the open pit slopes were designed to range between 45 to 55 degrees. Numerous slope failures during mine development required the pit slopes to be redesigned with slopes as shallow as 26 degrees. At present, movements are occurring within the open pits on reclaimed slopes that are shallow as 12 degrees. Several detailed slope studies were conducted at the mine in the early 1970s. These studies, combined with more recent geotechnical investigations, provide a unique detailed history of pit slope failures on shallow slopes. This paper presents an evaluation of the slope failures at the Shirley Basin mine, highlighting important mechanisms causing slope failures on very shallow slopes. The evaluation demonstrates important key parameters for shallow slope design.

Jan 1, 2001

By K. S. Liddell

Ultra fine grinding is becoming increasingly used in the mining industry over recent years. The development of large-scale units for high volume grinding of low value materials and concentrates has opened up new areas of economical metal extraction. The ability of stirred vertical mills to produce very fine particles with high surface areas, is providing mine operators with novel extraction possibilities within gold concentrate regrind for Biox or leach feed, Activox autoclave feed preparation and lime slaking operations. The paper will review design, operational and maintenance aspects of ANI-Metprotech stirred vertical mills, comparing these to tower mills, horizontal bead mills and attrition mills.

Jan 1, 2001

By D. A. Ainsworth

"The first known use of activated carbon dates back to the Ancient Egyptians who utilized its adsorbent properties for purifying oils and medicinal purposes. Centuries later, the early ocean going vessels stored drinking water in wooden barrels, the inside of which had been charred. (However, by modern definition the carbon used in these applications could not truly be described as activated.) By the early 19th century, both wood and bone charcoal was in large scale use for the decolorization and purification of cane sugar.However, it was not until the beginning of the First World War that the potential of activated carbon was really capitalized upon. The advent of gas warfare necessitated the development of suitable respiratory devices for personnel protection. Granular activated carbon was used to this end as, indeed, it still is today.By the late 1930's there was considerable industrial scale use of carbon for both gaseous and liquid phase application and new manufacturing processes had been developed to satisfy the needs of industry. During the 1939-1945 war, a further significant development took place - the production of more sophisticated chemically impregnated carbon for the removal of both war and nerve gases."

Jan 1, 1984

By Belcher C. B

The Groote Eylandt manganese ore deposits contain mainly pyrolusite and cryptomelane with lesser amounts of the manganese minerals lithiophorite, todorokite, psilomelane, and nsutite. The major non-manganese minerals which occur are quartz, kaolinite, and goethite.Determination of the mineralogy relies mainly on x-ray diffraction analysis. Quantitative methods for the determination of pymlusite and cryptomelane in Groote Eylandt manganese ores have been developed, A large amount of isomorphous substitution may occur in the manganese minerals and a number of minor and trace element associations have been noted. A correlation has been established between the potassium and cryptomelane contents for a wide range of ore types. Anomalous calcium, magnesium, and sodium values occur in samples containing todorokite, and barium is associated with psilomelane. Groote Eylandt lithiophorite appears to contain negligible amounts of lithium (<O· 05 per cent).A relationship between the H20+ and the Al203, K20, and Fe203 contents has been estahlished indicating that much of the combined water content is due to the presence of kaolinite and goethite, and cap be removed by beneficiation of the ore.

Jan 1, 1975

By Sean Gallagher, John R. Bartels, Dean H. Ambrose

Remote operation of continuous miners has enhanced the health and safety of underground miners in many respects; however, numerous fatal and non-fatal continuous miner struck-by accidents have occurred when using remote controls. In an effort to prevent these injuries, NIOSH researchers at Pittsburgh Research Laboratory examined the workplace relationships between continuous miner operators and various tramming modes of the equipment using motion captured data, predicted operator response times, and field- of- view data to determine causes of operator-machine struck-by events in a virtual mine environment. Factors studied included machine speed, direction of escape, operator facing orientation relative to the machine, work posture, distance from machine, and operator anthropometry. Close proximity to the machine, high machine tramming speeds, a right-facing orientation and operator positioning near the tail all resulted in high risk of being struck. It is hoped that this data will provide an improved rationale for operator positioning for remotely operated continuous miners.

By G Dunstan

The Ridgeway gold mine has been an enigma of the international underground hard rock community for nearly 20 years. It nearly didn’t eventuate as it was more than 500 m below a farmer’s paddock in Central New South Wales when the exploration team, looking for open pit deposits, got a sniff on its last attempt and then drilled the high-grade discovery hole. It took separate studies to find an economic mining approach. Newcrest, then a mid-tier mining company, took the venture that set it on a path of growth and built what was to become the backbone of the company for the next 15 years.The initial mining method was sublevel caving (SLC) for the upper 300 m of the orebody. The nameplate production rate for the SLC was 4 Mt/a, which was reached in June 2002 shortly after the commissioning of the materials handling system. The ultimate production rate was subsequently lifted to around 6 Mt/a through a series of innovative and efficiency initiatives. In June 2007, approval was granted for the development of a block cave (BC) operation to extract the ore reserve situated immediately below the existing SLC operations, Ridgeway Deeps. The BC was designed at approximately 6 Mt/a to match the concentrator and a systematic improvement process through the entire underground system again saw delivery rates consistently around 10 Mt/a.In line with the production rate increases, Newcrest was also committed to advancing caving knowledge through a number of targeted research and development experiments and new processes. These were primarily related to improving cave ore recovery through systematic draw marker trials, cave propagation through preconditioning techniques with associated monitoring systems. New technologies were also developed to improve the safety and efficiency of the mine through data collection, cave establishment techniques, production dispatching and autonomous loading.CITATION:Dunstan, G, 2016. The truth is stranger than fiction – the story of Ridgeway gold mine, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 19–30 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By M. V. Mielke, R. E. Hagen, R. L. Bennett

FINE IRON ORES, and concentrates such as those produced from taconite, must be converted to lump form by some process of agglomeration before they can be used effectively in the blast furnace or open hearth. At the present time, four major processes for agglomerating these materials are being used on a commercial scale: sintering, nodulizing, pelletizing and briquetting. IN 1945 U. S. Steel Corp. through its subsidiary the Oliver Iron Mining Div., drew up tentative plans for an agglomerating plant on the Mesabi Range which would include a nodulizing kiln and a sintering machine. The purpose of the plant was two- fold: during its initial operation it would provide data on agglomeration of high grade ore fines, and would help relieve the shortage of ore for open hearth charging. Subsequently, it would be available for agglomerating taconite concentrates. While operating on fines screened from direct ore, it was planned to develop techniques and personnel so that a workable plant would be ready to handle taconite concentrates when the time came.

Jan 1, 1954

By M Scott, J J. McEwan

Silver and silver alloys tarnish readily by the formation of tarnish on the surface when exposed to a wide range of sulphur-containing atmospheres. This tarnish is unsightly and undesirable and can be removed either with a silver polish or a chemical dip. Polishes are, however, not suitable for irregular and embossed surfaces such as on coins, medallions and jewellery items, because of uneven removal of the tarnish layer and excessive wear. Successful tarnish protection can be achieved by either storing the items away from the aggressive atmosphere or by coating/treating the exposed surfaces with a protective layer. Storage is feasible for collections but is not suitable for items that are handled or worn regularly, such as jewellery. A number of commercial coatings and treatments have been developed, but to date there has not been a systematic evaluation of tarnish protection. This paper details the performance of a range of generic coatings in an accelerated tarnish test. The degree of tarnish was evaluated by means of loss in reflectivity and change in colour. Four coatings/treatments improved the tarnish resistance of silver by more than tenfold. These include an organic lacquer, rhodium electroplating and an organic self-assembled monolayer (SAM) conversion coating. Research is continuing to optimise these coatings. Keywords: silver alloys, tarnish resistant coatings, silver polishes.

Jan 1, 2006

By K. E. Gray, M. S. Seth

In Part I of this work,1 equations of elasticity were formulated for transversely isotropic, axisymmetric, homogeneous, porous media exhibiting pore fluid pressure. Equations of elasticity and the thermal analogy method were used to determine transient horizontal, tangential, and vertical stresses and radial displacement in a semi-infinite cylindrical region when either a constant rate of pressure or a constant rate of flow is maintained at the wellbore. In this paper, the approach presented earlier is extended to finite reservoirs for the cases of (1) steady-state flow, (2) constant pressures at the well bore and outer boundary and (3) constant pressure at the wellbore and no flow at the outer boundary. Results of this work show that radial and tangential stress gradients are high near the wellbore but diminish rapidt; away from the well; the vertical stress gradient behaves in the same way but is less severe. Radial stresses are compressive or neutral, whereas tangential and vertical stresses may be tensile, neutral or com-pressive, depending upon the boundary conditions, the physical Properties of the system and the radial distance involved (vertical stresses are always compressive in an unbounded system1. For constant boundary pressures, both radial and tangential stresses increase with time whereas they both decrease for a closed outer boundary and constant pressure at the wellbore. The vertical stress decreases with time for both systems. For steady-state systems, radial displacement may be positive or negative, depending upon the dimensions of the system, the pressure differential and the porosity. Radial displacement may be positive or negative for a closed outer boundary but is positive for constant pressures at both boundaries. INTRODUCTION The importance, utility and complexity of a realistic appraisal of the stress state at and local to a wellbore were indicated in Part I. In this paper the analytical approach presented earlier is extended to finite, cylindrical reservoir geometry for the cases of (1) steady-state flow, (2) constant pressures at wellbore and outer boundary and (3) constant pressure at the wellbore and no flow at the outer boundary. Other than the outer boundary of the reservoir being finite, the physical system and assumptions pertinent thereto are the same as before. The reader may wish to review the mathematical development through Eq. 49 of Part I before proceeding here. SOLUTION FOR GENERAL BOUNDARY CONDITIONS THERMAL STRESSES AND DISPLACEMENTS Since normal stresses do not exist at the free boundaries of a system subjected to thermal stresses, the boundary conditions are

Jan 1, 1969

By S. H. Ward, R. A. Barker

THE Juniper Prospect is in Carleton County, N. B., at approximately 46" 31' north latitude, 67" 20' west longitude. During the summer of 1955 an area in west-central New Brunswick was selected for aerial electromagnetic prospecting with American Metal Co.'s helicopter-mounted equipment. Generalized, small-scale government geologic maps had suggested that this area was located along the western border of the northeast-trending granitic backbone of northwestern New Brunswick and might be underlain by the Ordovician-Silurian sediments and volcanics that are the host rocks for the recently discovered sul-fide deposits of the Bathurst-Newcastle district. The helicopter electromagnetic equipment located an anomalous conductive area, coincident with a small aeromagnetic closure, about five miles west of the town of Juniper. Subsequently 30 mining claims (total area about 6600 x 8000 ft) were staked and company personnel conducted geological, geophysical, and geochemical investigations on the property. The claims and immediately contiguous areas were mapped geologically, and an area of about 2000 x 4000 ft was soil-sampled and also surveyed by ground electromagnetic and gravity methods. Finally six diamond drillholes, totaling 3500 ft in length, were drilled to test the anomalous conditions discovered by the several exploration techniques used. The discovery of base metal sulfides during drilling was a technical success for the exploration methods, but the quantity of sulfides was too small to be profitably exploited.

Jan 1, 1959

By H. Conrad

The strain hardening associated with the creep of magnesium single crystals at room temperatu.Je was investigated by shear tests in which the direction of stressing was reversed a number of times after creep in a <100> direction. The strain hardening was strongly anisotropic; the largest amount occurring in the direction of flow and the least 180 deg to this. The time law for creep changed from a parabolic type to logarithmic for the first and subsequent reversals of stress. For a given stress the creep strain decreased significantly for the first and second reversals and then only slightly for subsequent reversals. The logarithmic creep constant a changed in a similar manner. A linear relationship was observed between the creep strain for a given reversal and the stress. The slope for the third reversal yielded a strain hardening coefficient 12 to 16 times greater than that observed for unidirectional flow. Al-though no recovery was observed upon resting at room temperature, the hardening resulting from stress reversals could be completely removed by heating to 450" C. PREVIOUS work1.&apos; indicated that the creep rate of magnesium single crystals tested in the temperature range of 78" to 364°K decreased with time. This was attributed to an increase in internal stress resulting from an accumulation of dislocations at internal obstacles. The object of the present investigation was to further evaluate the nature of this hardening by conducting tests in which the direction of stressing is changed after previous creep in shear in a given slip direction. Previous to 1950 three investigations indicated that a Bauschinger effect3 occurred for single crystals as well as polycrystals brass in tension compression,

Jan 1, 1960

By Dan Nilsson

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

Jan 1, 1982

Real economic growth for the year will most likely exceed the Administration&apos;s estimate of 3.2%, up from 2.9% in 1986, unless consumers change their spending patterns more than expected as a result of the October stock market decline. The economy grew at a real annual rate of 3.7% in the first three quarters of the year, Analysts agree that the stock market decline will slow economic growth-- most have lowered their growth expectations for 1988 by about 1%; but few would argue that the economy will slow significantly in the fourth quarter of 1987. [ ] During this economic recovery, personal consumption expenditures provided the main impetus for growth and a deeping trade deficit, the main hindrance to growth. In 1987, however, personal consumption expenditures grew at a lower rate than the overall economy. Mush of the economic growth resulted from a reduced trade deficit and growing investment by business in equipment to improve productivity and to meet the domestic and foreign demand for products. The declining value of the dollar resulted in a better competitive position for U.S. goods but also contributed to a rising rate of inflation as imports rose in price. Inflation, as measured by the fixed-weighted index for gross national product, was still far below the rates in the early 1980k, however. More than 2 million jobs were created during the year, predominantly in the service sectors of the economy, and the monthly unemployment rate in September fell to the lowest level in a decade. Then, after 13 months of decline, the unemployment rate edged up 0.1 percentage point to 5.9% in October.

Jan 1, 1987