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By J. T. Ryan, Griffin. Wayne H.

This paper shows that if a drift has a brattice which is sufficiently leaky, changes in the operating point of the fan depend solely on the volumetric efficiency within the drift. Under this high leakage condition, an increase in the length of the drift causes very little shift in the fan operating point. For less leaky brattices, the operating point depends on both the fan characteristic curve and the volumetric efficiency. It is shown that for the fan curve and drift parameters used in this paper the fan operating point in a drift with a volumetric efficiency of 50% is essentially the same as a drift which has a zero efficiency. In this region of efficiency, an increase of 300% in the length of the drift causes only a 3% increase in fan operating pressure.

Jan 1, 1993

The Mining Foundation of the Southwest (MFSW), located in Tucson, AZ, will hold its 16th annual American Mining Hall of Fame Awards Banquet Saturday, Dec. 5,1998. The Hall of Fame recognizes outstanding contributions to the mining industry by selected individuals and industry partners. Each year, one living award recipient and up to two mining history honorees are chosen by the , Hall of Fame Committee and the Board of Governors of the Mining Foundation. In 1989, the Mining Foundation initiated a Medal of Merit to recognize outstanding individual, technical and professional contributions to the mineral industry. In 1995, an award was created to recognize contributions made by companies and organizations in partnership with the mining industry. This year's inductee, guest of honor and featured speaker will be Charles G. Preble, president and chief executive officer of Southern Peru Copper Corp. He is being recognized for outstanding performance as an executive of an American company operating under difficult circumstances in a foreign country. The Hall of Fame will induct H. Myles Jacob, former chairman and CEO of Inspiration Copper Co., for innovation and farsightedness in matters pivotal to the cop- per industry of his time. In addition, John Cromwell Lincoln, former president and chairman of Bagdad Mining Co., will be inducted for his outstanding contributions to the American mining industry. These contributions include metallurgical research and development of the Bagdad Mine as well as pioneering innovation in the electrical industry. Medals of Merit will be awarded to David N. Skillings, editor and publisher of Skillings Mining Re- view, for his dedication and support of mining interests. J. Ruben Velasco Rodriguez will also receive a Medal of Merit. He is economic geologist, professor and former secretary of the board of directors and secretary general of Compania Minera de Cananea. His medal is for fostering excellent relations between Mexico and the , United States in mining geology and management and for advancing the professional development of others in the field of earth science. An Industry Partnership Award will be presented to Stephen Bechtel and the Bechtel Corp. in recognition of Bechtel's 100th anniversary and the company's outstanding service to the mining industry. The banquet will be held at the The Westin LaPaloma in Tucson beginning with cocktails at 6:30 p.m. Tickets are available from Clare A. Roscoe, manager, Mining Foundation of the Southwest 520-577-7519, fax 520-577-7073.

Jan 1, 1998

By M. E. Rossi, V. Camacho

Reconciliation of production information is critical to evaluating the effectiveness of predictive models that would allow for the optimization of mining operations. Whether mining open pit or underground, mine-to-mill reconciliations can be one of management's better tools for the performance of proper accounting. Such reconciliations can also be a very useful tool in evaluation and optimization. This paper proposes a set of criteria and objectives for a typical reconciliation program. This paper also presents a stepwise, logical approach to performing reconciliations and discusses the benefits associated maintaining good information. It also highlights some of the potential pitfalls involved and the methods used to avoid collecting misleading information. These issues are illustrated with an example of a model-to-mine-to-mill reconciliation program that is being implemented at an operating mine. The program involves multiple predictive models (long-term and short-term block models), feed from three open pits and one underground mine, in addition to intermediate stockpiling, for a total of 23 mill streams. This paper presents a summarized version of this reconciliation program and its initial results as implemented at Minera Michilla S.A.

Jan 1, 2000

By N. E. Green, W. E. Bennett, G. P. Harrison

INTRODUCTION The art of raise boring has seen rapid development and use in underground mines both for primary development and production during the past 10 years. The intensive full scale tests by a major mining company in the Precambrian rocks of the Sudbury district of Ontario, Canada, have lead the way to the general acceptance of the raise drills. The rock successfully raise bored in the Sudbury area has compressive strengths varying from 30,000 to 50,000 p.s.i. As a result of the intensive study, it became evident to many mining companies that raise boring could be adapted to many mining systems. Many companies have modified their planned mining methods to incorporate raise boring. The result has been a more rapid development of their mine and naturally, an economic advantage to them. In conjunction with the acceptance of the raise drills, the range of equipment has broadened in terms of size, capability and efficiency. The concept of raise drilling and the general arrangement of the equipment has seen little change. At some locations there have been reported successes of drilling pilot holes up

Jan 1, 1997

By K. Zhang

Real option value (ROV) method is considered to be more practical and advanced compared to net present value (NPV) method in evaluating a mining project, in particularly when there is substantial uncertainty in the commodity market as well as possible operational flexibility embedded in the project. Usually, it may take months or even years for the commodity product to be available in the market after the mining activation decision is made. The impacts of postponing the delivery of commodity product on the mine?s ROV and NPV are assessed based on the proposed real option method. Postponing the delivery of the products leads to declined NPV and ROV compared to the non-postponing scenario and extended postpone results in higher lost values in NPV and ROV. For a mine with lower mining cost, by postponing the delivery, the exercising threshold of commodity price is lower because the mine owner anticipates that commodity price may rise during the time of postponing. A mine with higher mining cost requires a higher exercising price threshold to ?lock up? the profit when there is ambiguity of market situation due to the postponing of the delivery.

Feb 23, 2014

By Harold L. Hinds

The refining of precious metals from steel wool cathoodes is completed by one of two methods: 1) By direct fire smelting or: 2) Acid treatment of the cathodes to dissolve the steel wool and then followed by fire smelting. To further the refining of the cathodes, the Miller Process and the Wohlwill Process are used.

Jan 1, 1981

By D. D. Eyer

New or improved technology will continue to drive productivity improvements through the next decade. In January 1988, I presented a paper titled, "Large Underground Mines of the 1990s? before the SME. I will follow some of the themes developed in that paper as modified by our experience in the past two years. In order for a coal company to be profitable today, it has had to reduce unit costs experienced in the past. This is because the current average realization, even accounting for a recent strengthening, remains below that of a few years ago. Doing business as was done in the past is not good enough. The coal industry needs to increase productivity in the range of 5-10% annually merely to stay even with rising costs. Underground productivity has been increasing more rapidly than that for surface mining. With the exception of the Powder River basin of Montana and Wyoming, underground productivity has caught up with that for surface mining in many regions of America. There are a number of technological factors which have attributed to increases in underground productivity and which should be factors in the future.

Jan 1, 1990

By C. Sachanidis

From the surface mines of Ptolemais basin 48 samples of Pliocene lignite were collected. The samples were analysed using Instrumental Neutron Activation Analysis (INNA) and Inductively Coupled Plasma (ICP) for determining the concentrations of 39 trace elements. The contents of sulphur and ash and the loss of ignition were also determined. The chemical affinity of these trace elements was estimated based on 40 correlation diagrams between the elements concentrations and the ash content of the collected lignite samples. According to the obtained results, 18 elements have inorganic affinity (Co, Cr, Cs, Hf, Sc, Th, La, Ce, Nd, Sm, Eu, Yb, Lu, ?n, Ba, ?, Sn, ?r) and 10 elements have inter-mediate affinity (As, U, ?r, Pb, Cu, Sb, Sr, S, Ni, V). The remaining 12 elements (Au, Ir, ??, Rb, Se, Ta, W, Tb, Ag, Cd, Bi, Be) exhibited concentrations below the detection limit. Thus, they were impossible to be classified in a specific affinity group. Based on the classification of these trace elements and sulphur in inorganic and intermediate affinity groups some useful conclusions are drawn regarding their behaviour during lignite combustion and lignite ash utilization and disposal processes.

Jan 1, 2006

By Robert Semrad, J. Colin Anderson

INTRODUCTION Sulphur is a mineral which accounts for 0.05% of the earth's crust and may be found either in its elemental state or as a compound. References to sulphur production and consumption are found in early antiquity and international trade of sulphur from volcanic deposits in Sicily began in the 1880's. The supply of sulphur consists of two components: the first is production, and the second is inventory. HISTORICAL SUPPLY Production World sulphur production in 1984 was approximately 53.5 million metric tons, compared to the 1970 level of 42 million metric tons. Of this 11.5 million metric tons production increase, brimstone accounted for close to 90%. Production distribution in 1984 was 62% brimstone, 21% pyrites and 17% other forms, while in 1970 it was 55%, 28% and 17%, respectively. Brimstone Production is derived either from mining operations (Frasch, underground melting and native refined) or as a by-product from hydrocarbons. World production in 1984 exceeded 33 million metric tons, up approximately 10 million metric tons from the 1970 level. This increase was uniformly distributed throughout the world as shown in Table A.

Jan 1, 1986

By P. Christmann

The operational paradigm of mining industries is shifting from ?optimal profit for the financial stakeholders? to a new concept compatible with sustainable development ethics: ?maximize economic and social returns at the local, national and global levels, while avoiding negative environmental impacts?. The number of stakeholders concerned by mining companies has grown significantly over the last few decades, and the role of local communities and civil society is now acknowledged by the mining companies adhering to the sustainable development ethics. ?Involve me? is becoming a key to maximize the returns the mining industry can provide to sustainable development. As the world?s major importer of many mineral commodities, several coming from developing countries facing severe short-term problems, the European Union (EU) is an important stakeholder and has a responsibility in supporting actions to strengthen corporate and public governance capacities. The purpose of this paper is to highlight the drivers leading to the development of sustainability indicators and to propose, within the 6th European Framework Programme for Research, Technological Development and Demonstration Activities (FP6), an European-level initiative to develop sustainability indicators adapted to the mining industry and its population with relevant data.

Jan 1, 2003

By Richard Kolada

If the emission of methane into any particular area of an underground coal mine remains constant, then the calculation of ventilation requirements is relatively simple. This is also true if the ventilation system is recirculatory. However, the emission of methane into a working area can vary considerably. There is always a risk that the ventilation will not be able to dilute the emission of methane to acceptable levels, because there are often short-lived peaks of emission which are very large. The ventilation design must therefore consider what is an acceptable level of risks and calculate the airflow requirements to meet this level. The acceptable level of risk can be calculated by examining the historical variation in methane emission into the area to be ventilated. For example, consider that an acceptable level occurs when methane emission peaks only exceed the capability of the ventilation one day in twenty. Then, from the history of methane emission, it is possible to calculate the necessary ventilation requirements. This method has been used since the early 1980s for conventionally ventilated districts. This paper examines the application of this technique to districts ventilated by recirculatory ventilation.

Jan 1, 1987

By A. Santha Ram

The Indian Mining sector is subjected to a number of trends including call for global transition towards the route to sustainable development. Several regulations were enacted by the Government departments, from time to time, in order to identify the problems faced by the mining industry, including small-scale mining operations and to suggest appropriate mitigation measures in the form of environmental standards and certifications. During this process, a pursuit of sustainable development is regarded as an important area responding to socio-economic conditions, priorities and thus guides eventually corporate policies and practices. Thus, there is a need to formulate strategies for sustainable development. Based on these strategies some environmental indicators were developed in order to track down the progress and to evaluate its success. A case study pertaining to a group of iron ore mines in North Goa and Chromite mines in Sukinda, Orissa was selected for this study. Base line environmental data has been generated in the respective study sites. A core set of environmental indicators monitoring environmental progress based on the P-S-R model pioneered by OECD is linked with indicators for assessing the integration of environmental concerns.

Jan 1, 2003

By Stuart K. Nicol, Malcolm D. Engel, Neville T. Moxon

Ion flotation of gold is a process continuing to be developed to selectively beneficiate dilute aurocyanide liquors using a novel surface­active complexing agent. Aeration of these liquors causes accumulation of the precious metal species in the froth concentrate produced in a flotation column. Successful development of ion flotation for concentrating solids-free liquors would offer a low--cost method for recovering specific metals from heap leach runoff or waste tailings solutions. The cost of constructing and operating a 100 tph gold ion flotation facility has been compared with the relevant carbon adsorption plant costs. Reductions in operating costs of 25% and installed capital of 40% are possible in relevant expenditure areas. For an 'average' processing plant, this equates to annual operating savings of A$ 170 000 and a capital saving of A$ 515 000, with a three-point increase in total (mine and plant) site DCF ROI. High gold inventories are eliminated and the number of processing steps is reduced. The application of gold ion flotation will initially be confined to heap leach operations in the western U.S.A., although use of the process in mine abandonment programmes elsewhere is also an area of future development.

Jan 1, 1992

By Hang Yang, Linneas W. Laage

A major concern of mine fires is the heat generated ventilation disturbances which can move products of combustion (POC) through unexpected passageways. Fire emergency planning requires simulation of the interaction of the fire and ventilation system to predict the state of the ventilation system and the subsequent distribution of temperatures and POC. Several computer models were developed by the U.S. Bureau of Mines (USBM) to perform this simulation. The most recent, MFIRE, simulates a mine's ventilation system and its response to altered ventilation parameters such as the development of new mine workings or changes in ventilation control structures, external influence such as varying outside temperatures, and internal influences such as fires. Extensive output allows quantitative analysis of the effects of the proposed alteration to the ventilation system. This paper describes recent USBM research to validate MFIRE's calculation of temperature distribution in an airway due to a mine fire, as temperatures are the most significant source of ventilation disturbances. Fire tests were conducted at the Waldo Mine near Magdalena, NM. From these experiments, temperature profiles were developed as functions of time and distance from the fire and compared with simulations from MFIRE.

Jan 1, 1995

By Eugene E. Hively

The Tower Kill is a vertical "stirred" ball/pebble mill recently introduced in the Western Hemisphere. This device offers a significant power savings on wet fine grinding applications when compared to conventional tumbling mills. This paper describes the laboratory application of this mill wet grinding hydrated alumina to products of 50 percent passing 2 to 6 microns.

Jan 1, 1983

By Stuart M. Jones, Eugene E. Hively

The Tower Mill is a vertical "stirred" ball/pebble mill recently Introduced In the Western Hemisphere This device offers a significant power savings on wet fine grinding applications when compared to conventional tumbling mills This paper describes the laboratory application of this mill In wet grinding hydrated alumina to products of 50 percent passing 2 to 6 microns

Jan 1, 1983

By J. R. Tonry

In the grinding of dry non-metallic materials such as rocks, ores, gypsum, lime, and cement clinker, it is recognized that only a relatively small portion of the energy is utilized for actual size reduction, and the major portion of the energy used is converted into heat. As a result, heat is generated inside grinding mills imparting to the ground product a higher temperature than that of the mill feed. In some cases, as for instance in grinding cement clinker and gypsum into finished cement, it may be desirable to keep this temperature increase within certain limits, to avoid any change in the properties of the product and, because consumers may specify a maximum temperature of the finished product for reasons associated, with the tulimate use of the cement. The actual proportions of heat and useful work are somewhat indefinite. Some tests have indicated that nearly all the energy is converted into heat, and. other investigators have found that they could account for "everything except the noise." Investigations sponsored by the American Institute of Mining and Metallurgical Engineers, and carried out with an adiabatic calorimeter, indicated that a surprisingly high 19 percent of the energy might actually be used for size reduc¬tion. However, for the purpose of the following discussion it will be assumed that: (Fig. 1) 10% is lost in motor and gears 10% is lost by radiation and convection from the mill body 10% is used for size reduction, and. that 70% of the energy input leaves the mill as heat in the ground. product. A typical example (Fig. 2) would be a 7x22-ft tube mill operating in open circuit, driven by a 400 hp motor, charged with 77,000 lb of grinding media and producing 70 bbl or 26,300 lb of cement per hour. Reducing this cement from a clinker size of 96 percent passing a No. 16 mesh sieve to a specific surface of 3,230 sq cm per gm (Blaine) will increase the temperature of the cement approximately 143F above the temperature of the feed, as explained later. If the tempera¬ture of the clinker therefore is 125F, the finished cement will be 268F, which in some cases may be too hot. : When cement temperatures approach a range during grinding where dehydration of the gypsum becomes a problem, a logical consideration would be some means of reducing the temperature before it attains the range conducive to gypsum dehydration. Regardless of the varying degrees of heat generated within the mill or mills during grindingto various finenesses, consideration of the maximum safe limit for any type of cement being ground, which may vary fromplant to plant, govern in refining the mill circuit to obtain a safe temperature range. All plants are not necessarily required to do the same cooling job, and may or may not use cement coolers following the grinding circuit. (Not discussed in this paper). In the past, various means have been employed for controlling this temperature increase, Such means have included water cooling of the outside of the mill shell; equipping the shell with cooling fins; injection of moisture inside the mill; ventilation through the mill; and., in cases of closed-circuit grinding, drawing cooling air through the classifier; the purpose in all such cases being to remove heat from the grinding system.

Jan 1, 1958

By A. J. Lynch, M. J. Lees

Introduction The design of wet grinding circuits may vary considerably according to the duty which is to be performed. Grinding machines which are commonly used in these circuits are rod mills, ball mills, autoge¬nous mills, and pebble mills while size separation machines commonly used are vibrating and wedge-wire screens, hydrocyclones, and rake classifiers. In some circuits, such as those producing feed to cement kilns, all the ore entering the circuit is discharged in a single product stream. In others, such as those operating on magnetite-taconite ores, the feed entering the circuit leaves in two or more streams. Grinding circuits in flotation plants normally include sections in which either the concentrate or the tailings from the primary flotation circuit is reground and these additional sections should be regarded as an inte¬gral part of the grinding circuit. A typical circuit is shown in Fig. 18. Problems in achieving maximum efficiency may occur at three stages: 1) At the design stage when the optimum size reduction flow¬sheet must be selected with respect to the types, numbers, and sizes of processing units. 2) At the operating stage when the correct selection of values must be made for those variables which may be altered while the circuit is off-line but which are constant while the circuit is on-line, for instance the vortex finder diameter of the cyclones. 3) Under conditions of continuous operation when changes in the circuit feed or in the mechanical operation of the circuit may cause undesirable changes in the circuit product. The first two prob¬lems are concerned with optimization, that is, with making the best choice from many possibilities, and the last with control. Optimization Problems. The main purpose of a wet grinding circuit is to produce particles with a sizing distribution which will ensure optimum performance of the later chemical reaction or physical concentration circuits, because it is on the efficiency of these later circuits that the economics of the total mineral treatment process depend. The size distribution of the product from a grinding circuit may be affected by many variables, some concerned with the arrange¬ment and operation of the machines and some concerned with the ore characteristics, and it is important that these should be recognized in the design and operation of the circuit. For instance, in a simple ball mill-cyclone circuit the variables which affect the product size even for constant feed characteristics are shown in Fig. 19. In addition, the rate, size, hardness, and mineralogical composition of the feed will affect the performance of the circuit and the product size. When the circuit contains more than one mill, both the number of choices available and the complexity of the problem are increased consider¬ably. Consequently, one type of problem which is to be solved if an optimum product is to be obtained from an existing grinding circuit is that of circuit design, and this includes arrangement of processing units and selection of those operating conditions which cannot be altered when the circuit is operating, such as mill speed and cyclone inlet and outlet dimensions. The other major problem in optimization is encountered at the design stage when a choice must be made about the type, number, and size of processing units. For instance, for a typical high-capacity size reduction operation, should two circuits each containing one rod mill and two ball mills or three circuits each containing one rod mill and one ball mill be used? Alternatively, should ball mills only be used and if so, how many, what size, and what arrangement?

Jan 1, 1985

By Scott G. Britton

Today's coal mines are turning more and more to belt haulage as the key system to transport coal out of the mine. The advantages of using belt for both intermediate and main haulage are numerous. Belts are reliable high capacity haulage mediums that can be utilized at low operating costs. They are adaptable to rolls in the coal seam and can handle relatively steep grades. They are not noisy, operate with a minimum amount of labor, and are easily extended and retracted. Belts require the least power of any haulage medium, are easily controlled by push- buttons and interlocks, and present low fire and safety hazards. Belt haulage can also be the largest source of operational problems for mine management when not installed correctly. This chapter and Chap. 6 concentrate on proper installation of both the static and dynamic components of efficient belt haulage. This chapter looks at the static system component, composed of the belt drive, its installation and operation, as well as belt takeup and transfer point construction. These components do not change readily over the life of the installation, hence the term static system. Chap. 6 discusses the dynamic system of belt line construction, which includes belt splicing, breaking down and reanchoring the tailpiece, and extending the belt line, plus operational and maintenance items for belt operation. This chapter is divided into three major topics. The first is a general discussion covering the points necessary for designing an efficient haulage system; the second looks at installing belt drives, head rollers, and takeups, and the third discussion centers on installing efficient and effective transfer points along the haulage system. Each will address the design and construction issues facing the engineer or construction supervisor in charge of installing the system. Before looking at the static system, it may be useful to review some of the basic design factors and considerations of all belt haulage systems. The material usually carried on an underground belt is a mixture of raw coal and rock, commonly known as run-of-mine (ROM) coal. This mixture has certain material characteristics that guide the mining engineer to the final and proper belt selection. The characteristics looked at most frequently are: 1) Angle of Repose is the angle at which the material will freely make a pile. Most ROM coal averages a 35"-39" angle of repose. 2) Angle of Surcharge is the angle a pile will assume on a moving conveyor. This ranges from 5" to 15" less than the angle of repose in most materials. For ROM coals, 25" is the average angle of surcharge. 3) Flowability, which determines the maxi- mum cross-sectional area needed to carry any given material on a belt. It is measured by the angles of repose and surcharge of a material and also serves as an index of the safe incline angle for the belt line. These characteristics, plus practical engineering research and development work are defined by an organization called the Conveyor Equipment Manufacturers Association (CEMA) for most bulk materials. CEMA also provides a code for each classified material depending on the characteristics above and the subjective considerations of the average size to be encountered, the abrasiveness of the material, and any miscellaneous characteristics (oil resistive, corrosive, etc.) which may be important. For coal, CEMA (composed of member companies in-

Jan 1, 1983

By Peter J. Szabo

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

Jan 11, 1985