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By I. R. Taylor

Union Carbide has recently developed two open- pit vanadium mines in the Wilson Srpings area of central Arkansas about five miles southeast of Hot Springs. The ores from these mines, together with those from a larger vanadium deposit at nearby Magnet Cove, are processed at a new 1600- tpd plant built by the company in the immediate vicinity (Fig. 1). The Wilson Springs vanadium deposits are associated with the Potash Sulfur Springs intrusive, a circular igneous complex which is exposed over an area that is somewhat less than a mile in diameter.1 The complex has a crude ring structure similar to that of the larger Magnet Cove instrusive six miles to the east.2

Jan 4, 1969

By Trevor Hamm, Nick Holl

"Cameco Corporation is operator of the world's richest uranium project, the Key Lake mine/mill complex, located within the Athabasca region of Northern Saskatchewan. Mineable resources from the Key Lake ore bodies with an average U,08 content of 2.5% will be exhausted by the year 2000 and open pit mining at Key Lake will be phased out at that time. The mill will continue to operate at increased capacity, using high grade ore from the McArthur River project, a new underground mine at a distance of about 80 km from the Key Lake site. The McArthur River ore with an average U308 content of about 15 % will be blended with separately stockpiled low grade materials from Key Lake with a U,08 content of about 0.1 %. The average (blended) mill feed grade will be about 4%, similar to peak concentrations found in Key Lake ore.The Key Lake ore tailings are presently being placed in the mined out Deilmann pit under sub-aerial conditions, using spigots and a highly efficient pit/tailings drainage system. The tailings resulting from the processing of the blended McArthur River ore will be deposited on top of the Key Lake ore tailings under sub-aqueous conditions. This staged approach shows distinct technical and environmental advantages over an alternative, fully sub-aerial in-pit deposition scheme.The first part of this paper presents an overview of site specific geotechnical and hydrogeological features found at Key Lake and details some of the extensive test and modelling work that was required for environmental impact predictions during the development phase of the facility. The second part of this paper deals with tailings modifications, innovative placement technologies and drainage methods that have been (and will be) employed at the Deilmann Tailings Management Facility {TMF) to produce a highly consolidated tailings body under non-buoyancy conditions. The application of this technology at Key Lake is expected to produce a tailings ""plug"" in the Deilmann TMF which will have a permeability similar to or lower than the original in-situ Deilmann ore, resulting in a minimization of contaminant mass loadings to the environment both during operation and after decommissioning."

Jan 1, 1998

By Brian T. Brady

The year 1991 recorded unprecedented change throughout the world; war in the Middle East, economic recession in key industrial nations, upheaval in Eastern Europe, and the disintegration of the former U.S.S.R. These issues and growing environmental concerns will affect the entire world mining industry. Environmental issues continue to have an ever greater effect on industrial minerals. In the United States, major issues involving the Clean Air Act, Clean Water Act, and the recent Stormwater Rule by the U.S. Environmental Protection Agency (EPA) affect many types of mineral operations. Significant developments include an important decision in 1991 by a Federal Appellate Court to overturn EPA's asbestos ban on certain products, partly on environmental grounds, and proposed legislation that would overhaul or abandon the 1872 Mining Act. On a global scale, prominent issues include environmental concerns over mining in the Antarctic and Arctic regions and a cutback in plans to clean up the Kola Peninsula in the Commonwealth of Independent States (C.I.S.).

Jan 1, 1993

By Shiro Ban-ya, John Chipman

The effects of many alloying eletnents on the acticity coefficient of sulfur in liquid iron have-been studied by the equilibriutn in the reaction Sfin Fe) + Hz = HzS at 1550°C'. Results are expressed in terms of a concentration variable for a nonmetallic or for a substitutional metallic solute. Activity coefficient of sulfur, defined as increased by B, Al, C, Si, Ge, Sn, P, As, Sb, Mo, W, Co, and PI. It is decreased by Cu,Au, Ti. Zr, V, h'b, Ta, Cr, ,23n, and Ni. Irulues oj. the interaction coejficient 0i = 6 In are labulated. The same interactions are expressed also in terms of atom fraction and of weight percent. The thermodynamic properties of sulfur in liquid iron have been fairly well established. Our recent paper1 reported new determinations of activity coefficient up an atom fraction of 0.12 and equations based on a careful review of all published data. The effects of alloying elements on the activity of sulfur have been studied by several investigators,2"11 especially by Morris and Williams for silicon,' by Morris and Buehl for carbon,~ and by Sherman and Chipman for manganese. phosphorus, and al~minum.~ However, the effects of some important alloying elements remain to be determined. The purpose of this investigation was to determine the effects of many alloying elements on the activity of sulfur in Fe-S-j ternary systems. EXPERIMENTAL METHOD This study was based on experimental determination of equilibrium in the reaction at 1550°C: The same apparatus and procedure as described in our previous paper have been retained, and the same corrections were applied for dissociation of H2S. The alumina crucibles used in the experiments consisted of four separate compartments. In a given experimental run. kach of three alumina crucibles held four different samples of about 3 g each which reached equilibrium in the same gas atmosphere and temperature. The charges were made up of electrolytic iron, pure iron sulfide, and desired alloying elements, which were pure metal or master alloys made in the laboratory. The weighed samples were held for 4 to 12 hr in the prepared atmosphere at 1550°C. They were then low- ered to be cooled as quickly as possible. The quenched metal beads were crushed to avoid the errors of segregation in the ingot. The sulfur content was determined gravimetrically and alloy content by appropriate chemical analysis. CALCULATIONS The apparent equilibrium constants of Eq. [I] are expressed as follows from the corrected gas ratios and sulfur concentrations: The term K" is the observed equilibrium constant in any given ternary solution, K' is the value for the Fe-S binary solution. and the limiting value of K' in the infinitely dilute solution is designated by K, which is the true equilibrium constant in Eq. [I]. In the thermodynamic treatment of nonmetallic elements in a metallic solution, it has been suggested1' that the lattice ratio has certain advantages over other variables to express the concentration of solute. In interstitial solid solutions the lattice ratio zj is proportional to the ratio of filled interstitial sites to those which remain unfilled. The equations derived for the activity of the solute using zj as the concentration variable are found also to be applicable to liquid solutions containing nonmetallic solutes when the nonmetal is treated as if it were interstitial. For this purpose we adopt the following definitions: The quantity vj which is negative for interstitial solutes is taken as -1 for nonmetallic and +1 for metallic solutes. For purposes of calculation however ; j may be assigned a value which results in a linear relation such as shown in Figs. 1 to 15. The activity coefficient of sulfur, Qs, and equilibrium constant. K(z). are defined as follows: According to a Taylor series expansion. the logarithm of the activity coefficient of sulfur in Fe-S-j ternary system is: However, the value of 6 In */6zi remains constant through a broad range of dilute solutions and the terms of higher order are negligibly small. As a consequence, Eq. [6] is simplified as follows:

Jan 1, 1970

By André Caetano Melado

Neste trabalho foi avaliada a influência da porcentagem de austenita retida nas propriedades mecânicas de um ferro fundido nodular submetido ao processo de Têmpera e Partição (T&P). O tratamento térmico consiste do aquecimento do material à 880ºC por um tempo de encharque de 2h para completa austenitização, seguida de têmpera em óleo até a temperatura de 170ºC, intermediária às temperaturas Ms e Mf, para formação de uma quantidade controlada de martensita atérmica. Em seguida, o material foi reaquecido até 375ºC (tratamento de partição) por diferentes tempos (15, 60 e 120 minutos), sendo subsequentemente resfriado ao ar até a temperatura ambiente. Foram utilizadas as técnicas de microscopia óptica (MO) e eletrônica de varredura (MEV) para a caracterização microestrutural do material obtido. Ensaios de tração e impacto (Charpy) foram realizados para obtenção das propriedades mecânicas do material. Para longos tempos de partição, foi verificada uma diminuição na fração volumétrica de austenita. Com a diminuição da porcentagem de austenita retida observou-se uma diminuição nas propriedades como alongamento e resistência ao impacto do material.

Aug 16, 2017

By Michael Traylor, Michael Jatczak, Brett Robinson

The Detroit River Outfall No. 2. is an effluent water conveyance system linking the Detroit Metropolitan Wastewater Treatment Plant to the Detroit River. The 6.4m (21ft) finished diameter tunnel extends 1,890m (6,200ft) east from the bottom of a 91m(300ft) deep, 9.2m (30ft) diameter drop shaft. At the eastern terminus of the tunnel, six Riser Shafts connect the tunnel to diffuser heads on the riverbed. The tunnel runs through a highly fractured Limestone formation capable of producing high levels of groundwater in?ows and Hydrogen Sul?de gas. Control of this water and gas was a theme which ran through the entire Project’s design and construction. This paper will provide an overview of each portion of the Project’s construction, including the Entrance Shaft, Precast Concrete Segments, TBM Tunnel, Pre-Excavation Grouting Methods, and the Riser Shafts.

Jan 1, 2003

By L. Andrews

Electron microbeam analysis of metallurgical samples covers abroad field and has applications in the areas of minerals processing, hydrometallurgy, pyrometallurgy, physical metallurgy and corrosion. Some idea of the possibilities of microbeam techniques can be illustrated by examining the following example of a run of mine gold ore sample. Milling and bulk chemical analysis of the ore will provide major and minor element analysis as well as the gold grade. More detailed chemistry can also reveal the presence of trace elements that may be advantageous or deleterious to downstream processing. Electron microbeam analysis can provide additional information in the form of size, liberation, association and composition of the gold, the percentage of refractory gold, the size, liberation, association and composition of enclosing sulphide or arsenide phases and the levels and association of the trace elements that may affect processing. In most cases electron microbeam analysis complements bulk chemistry, and does not replace it. Both techniques should be used in parallel for maximum effect. This paper touches on the origin and history of electron microbeam techniques, as well as the theory behind microbeam analysis and processing. The more common types of instruments and their applications will also be dealt with briefly.

Jan 1, 2007

By P. K. Fedotov

Centrifugal separation opens its new application fields in the Mining Industry. The up-to-date equipment for ultra-fine ore and concentrates grinding allows an efficient use of centrifugal concentration for micronic gold grains recovery. Moreover, advanced centrifugal concentrators are presented on the market: concentrators with continuous concentrate discharge designed both for ore and non-metallic minerals concentration process. The conducted tests proved the centrifugal concentration to be efficient process for gold recovery from finely ground concentrates and ores (less than 20 µm). Knelson concentrator application for such a fine material in different process circuits makes possible to raise the total gold recovery level of plants. In the circuits of coal plants and in course of coal slimes treatment the centrifugal concentration may be used before flotation in order to improve process performances. A centrifugal concentrator KC-CVD with continuous concentrate discharge working on 0.3 (0.5)mm fraction before flotation is

Jan 1, 2014

By R. White, C. Doyle, B. Martin, C. Díaz, J. Hrepic, G. Cuthbert

"A program initiated to improve the service life of the magnesite-chrome refractory in the top blown rotary converters at INCO’s Copper Cliff Nickel Refinery identified slag corrosion as a major wear mechanism. Target slag compositions were established to produce a non corrosive slag. A plant program to achieve this target slag by the addition of controlled amounts of do lime and MgO was instituted. Addition to rates of the slag modifiers was optimized based on the slag composition assays achieved and the requirement to address corrosion effects on the high alumina content ladle refractory. A60% gain in TBRC refractory performance was eventually achieved and has been maintained yielding a net annual savings of $700,000. A significant gain in available converter operating time has also been realized.IntroductionINCO’s Copper Cliff Nickel Refinery utilizes two top blown rotary converters (Fig. 1) to smelt a blend of semi-refined nickel concentrates, producing a granulated nickel matte suitable for the adjacent carbonyl based nickel refining operation. The converter, or TBRC, operation is a batch process composed of feed charging and melting, oxidation of the excess sulphur in the matte, and reduction of residual nickel oxide. The final matte, containing about 78% nickel, is tapped at 1600°C from the converter and is granulated in a sluice equipped with high pressure water jets."

Jan 1, 1997

ALABAMA Altoona.-Cain, J. America.-Foreman, J. T. Anniston.-Cowie, L. K. Foster, R. N. Rogers, R. F. White, H. E. Ashland.-Sturdevant, J. C. Bessemer. Ball, E. M. McKenzie. W. C., Jr. Morgan, C. Birmingham.-Abbott, C. E. Adler, J. E. Aldrich, T. H. Aldrich, T. H., Jr. Ashton, J. J. Burgin, G. E.

Jan 1, 1923

By B. Currie

Maintenance of quality electrowon copper requires an electrolyte which has suitable chemical and physical characteristics. The proper design and operation of the solvent extraction plant is essential to the quality of the electrolyte sent to electrowinning. An aspect that is not well appreciated is that the return electrolyte can have negative effects on the operation of the solvent extraction plant. Poor SX plant operation creates below optimum electrolyte conditions. High Eh in the return spent electrolyte can degrade the SX reagent with large decreases in copper transfer capacity and increases in internal entrainment. The synergistic interaction of the SX and EW plants needs a single-source design approach to address the interactions. The design elements in the SX and EW plants required to manage the electrolyte conditions are discussed.

Jan 1, 2014

By Alice V. Peter

The rare-earth group are among the least familiar of the 92 known elements. Moreover, the relatively few people who have even heard of the rare earths ordinarily regard them merely as very rare elements having unusual names but doubtful commercial application. This typical attitude can be attributed partly to the fact that no commercial uses have been developed for most of the members of the group and partly to the fact that those which do enter into useful articles do so anonymously. Most people speak with a degree of familiarity of the "chromium" plating on their automobiles or household appliances; "antimony" ash trays and cigarette boxes are on sale in many department stores; and "tungsten" lamps and even "molybdenum" steels are advertised in popular magazines. However, the average user of a pocket cigarette lighter is not conscious that the important sparking element is a "flint" made from ferrocerium, and if he does chap on to inquire about the composition he is likely to be told that it is "sparking alloy", "misch metal", or 'pyrophoric alloy." Similarly, the wearer of spectacles made of "Crookes" or other tinted glass probably is not aware that the light softening effects are due to the presence of rare-earth oxides, or that the arc light on his street may owe its brilliance to cerium fluoride in the carbon electrode. Despite a variety of practical applications, however, most of the rare-earth metals still must be listed as scientific curiosities. In fact, little is known as to the properties which may make them useful products at some future date. Meanwhile it is important to note that Nature has been relatively generous in her distribution of the rare earths and that adequate supplies of most of them will be forthcoming when these elements have proved their worth as commercial products.

Jan 1, 1935

By George W. Riter

A distinguished engineer, the active head of a large mining company, has said that surveying attains the dignity of a profession only in the hands of a few men—the few who know how to keep notes that will be understood by even a novice without further word of explanation. Of all mine-records, survey notes are perhaps the most important. The maps made from them serve as a working-guide, and as framework for other data; and when, from any cause, access to underground workings is shut off, the surveyor's record often becomes invaluable. So seldom docs a surveyor have a chance to check underground surveys by making a closure, that he is compelled to rely on the precision of each step of his work for the accuracy of the final result. When data are fully recorded on the spot, the notes, even in the hands of second parties, become evidence of the care and precision with which the surveying was done. It is worth a great deal to be able to pick up the work of a former surveyor where it was left off, and to be able to carry it forward without rctracing from the beginning. The purpose of this paper is to describe the survey-note system of a mine now under my direction, in which underground surveys had to be relied upon entirely for the proper division of rich ore-bodies between neighbors, thereby placing a premium on accurate surveying and permanent records. In survey-work, it soon turns out that paper is the least item of expense, and that little is gained by trying to economize note-book space. For many purposes it is best to record notes on cards or loose-leaves, which may be left in the office at the end of the day's work, and need not be carried into the mine again, there to become smeared with grime and grease. With the loose-leaf or card system, all notes relating to the same local-

Jan 1, 1911

By Paul R. Thimas, Edward H. Boyle

"The Bureau of Mines evaluated the long-term cost and availability of primary gold production from 135 mines and deposits worldwide. Collectively, the evaluated countries represent 93 pct of world gold production. Total recoverable gold available (as of January 1984) from a subset of 111 significant producing mines and developing deposits in 13 market economy countries (MEC's) is estimated at 810 million tr oz. The Republic of South Africa is estimated to account for 87 pct of total recoverable gold. The United States and Canada account for 4 and 4.5 pct of the total, respectively. Eighty-three percent of total recoverable gold is available at a constant 1984 break-even price of $400/tr oz, and 70 pct is available at $300/tr oz. South Africa accounts for 90 pct of the gold available at $400/tr oz or less.Major conclusions are that (1) South Africa should remain the largest world producer through the year 2000, (2) annual MEC output in 2000 should not be significantly different than current output given constant 1984 gold prices of more than $300/tr oz, and (3) there may be a significant decline in production after 2010 in the absence of major new discoveries and continued development of new mines to offset the depletion of the South African mines. INTRODUCTIONSince the late 1970's the world gold mining industry has been characterized by dynamic growth in production and volatility in price. World production in 1983 was almost 15 pct greater than in 1980, and the short-term trend continues upward. Annual dollar-based price changes since the early 1970's have been unprecedented in both magnitude and volatility. This commodity, which sold for $35/tr oz3 for over a third of a century, reached an annual average $612/tr oz in 1980. Until 1980, the future price of gold seemed set on an upward trend. Since that year, however, world gold prices have fallen by over 50 pct to slightly over $300/tr oz at the end of 1984.Against this background, this study was undertaken to determine (1) the level of world demonstrated gold resources, (2) total and annual availability of gold mine production, (3) long-run production costs per operation and by national aggregates, (4) the economic and technical factors that impact upon cost and availability, and (5) probable future mine production and cost trends."

Jan 1, 1985

By Paul V. Sterk

In the early 1980's, the Homestake Mine converted from labor intensive methods such as open cut-and-fill mining to Vertical Crater Retreat (\/CR) bulk mining and mechanized cut and fill. This transformation occurred as a result of high costs and low productivity associated with open cut-and-fill mining. Use of Vertical Crater Retreat allowed Homestake to contain waste development rock within the mine to further decrease costs since the voids created from VCR stopes provide a good receptacle. The need to access these voids from surrounding development to facilitate waste dumping precipitated the development of drop raising. This system is cheaper than raise boring because it allows drilling into the top of an open stope without the expense of raise boring cutouts or equipment. It's safer than conventional raising since access from the bottom is not required. Two methods of long hole raising or "drop" raising have been successfully developed at the Homestake Mine and can be categorized as Ring Drill Drop Raising using 2-1/4 inch holes and VCR Drop Raising using 6-1/2 inch holes.

Jan 1, 1991

By Shen Zhengchang, Dong Ganguo, Chen Dong, Zhang Ming

"It is advantageous to process low grade ores with large scale flotation cells. Large-scale flotation cells have been enhanced with effective volume scale-up. In this paper, the latest and largest flotation cell with effective volume of 680 m3 in China is investigated. The hydrodynamics and flotation kinetics characteristics are conducted using CFD simulation. The similar circulating flow is formed compared to the previous BGRIMM (Beijing General Research Institute of Mining and Metallurgy) flotation cell and it is a suitable fluid dynamics environment. It is demonstrated that the flotation cell produces good gas dispersion and solid suspension. It is indicated that kinetic eddy dissipation plays a key role on collision kernel and collision probability profile. The higher collision probability profile appears at the impeller and stator regions aiding good metallurgical performances. The properties of the large-scale flotation cell are assessed using hydrodynamic numbers. The variation of hydrodynamic numbers such as the power number Np, the Froude number Fr, the air flow number Na, etc with flotation cell volumes show similar properties to previous flotation cells proven to be good in engineering applications. This research would aid structure optimization of the 680 m3 flotation cell.INTRODUCTIONFroth flotation is one of the mains method used in the mineral industry, which is used to process the most of metallic minerals. The proportion of low grade ores has increased with the minerals exploited around world. The increased capacity of concentrators demands large-scale flotation cells. Therefore, flotation equipment has seen a significant increase in size, for which large-scale flotation cells have prominent advantages in improving metallurgical performances, reducing area of plant blueprint printer, lowering the power consumption of the unit ore, decreasing labor cost and overall capital cost. Since the end of 1940’s, flotation cell sizes have continuously increased. To the end of 1990’s, flotation cells with the effective volume of 200 m3 were developed. In the last two decades, flotation cells have achieved a dramatic increase in size. In 2003, an industrial experiment on 257 m3 Smart Cell flotation cells was carried out in Minera Los-Pelambres, Chile. In 2007, the first 300 m3 Tank Cell flotation cell was designed and obtained industrial application in Macraes gold ore, New Zealand. And 320 m3 BGRIMM flotation cells are also in good operation in Toromocho Copper Mine, Peru and Wunugetushan Copper Mine, China. However, flotation cells are conventionally designed using empirically derived relations and geometric similarity. The continual scale-up of flotation cells is still a significant developing process. A 500 m3 Tank Cell was designed for the industrial experiment in Finland and a 620 m3 Tank Cell have also been completed the design. A 660 m3 Super Cell also was manufactured for the industrial experiment released in IMPC 2014. So, the flotation cells with volume exceeding 600 m3 become a pioneering research field for researchers worldwide."

Jan 1, 2016

By J. Kretschmann

"By the end of the 1950s, the German hard coal mining industry produced 150 million tons of hard coal per year in 170 collieries with 600,000 employees. At that time, 70% of the primary energy demand of the Federal Republic of Germany was covered by domestic coal. However, due to coal mining becoming an increasingly globalized business and the oil and gas industry producing with lower costs, the German domestic hard coal industry stood constantly under restructur-ing pressure. The industry declined until the end of its life cycle. In 2007, a political understanding was arranged to phase out German hard coal mining in a socially acceptable manner by the end of 2018. This decision required a new strategy for the coal mining industry. Being strictly finalized, the German hard coal mining industry has to be prepared for the post-mining era. To create a sustainable development strategy, the long-term impacts of coal mining activities in Germany concerning the environmental, economic and social dimensions will be analyzed systematically and forward-looking. The regional and social responsibility during the closing process and for the post-mining era will be emphasized. High technical standards in environmental protec-tion and post-mining technologies, as well as long term experiences in the development of former mine sites to create new jobs are significant from an international point of view. The traditionally constructive social partnership between employers, union, and employees has enabled long-term stable adaption processes and avoided social friction. The sustainability strategy of the German hard coal mining industry can be regarded as a role model for other mining countries and regions facing similar transition challenges. INTRODUCTION Principally, mining is a finite business that reaches its end if the deposits are depleted or the raw materials can no longer be mined in an economically profitable way. However, the impact of mining is po-tentially an infinite one – at least if you measure it at a human time scale. Mining always means interfering with geological and ecological structures that cannot be reversed to their original condition. In general, the mining cycle (Figure 1) can be divided into three phases: 1. The exploration phase, in which the deposit is investigated to determine its technical and economic profitability. The period of these undertakings is relatively short and can lead to the launch of mining operations. 2. What follows is the actual mining phase which usually lasts for a long time and ends latest when all deposits are fully depleted. This lifespan may be shortened if the economic conditions (production cost or market price) deteriorate. Nevertheless, mining may be resumed if those conditions become favorable once more (examples are silver mining in Germany or rare earths mining in the USA). 3. The longest phase, however, is the post-mining phase as the human interference into geology and nature is usually inten-sive and irreversible. Mining can lead to consequences which have a permanently adverse impact on people and the environment; therefore, they have to be managed as best we can (1)."

Jan 1, 2017

By Virgil J. Stachura, Calvin L. Cumerlato

The U. S. Bureau of Mines is conducting research on blasting methods that reduce highwall overbreak and the associated rockfall hazards. This paper presents the results of tests using a low-density water gel to improve the quality of air-decked presplit blasts at a surface coal mine in New Mexico. The explosive's specific gravity averaged 0.50 and was bulk loaded using a modified truck which injected the gassing agent. Reductions in overbreak and resulting rockfall were achieved in comparison to a highwall presplit with ANFO. The test sections used 15° angled blast holes and resulted in 1,119 m (3,672 ft) of air deck presplit highwall using a low-density water gel which was then compared to 894 m (2,934 ft) of highwall shot with an ANFO air decked presplit design. The total quantity of explosives per hole ranged from 68 to 113 kg (150 to 250 lbs) and the 27 cm (10-5/8in) holes were 19- to 33-m (62- to 108-ft) deep on 5.5 m (18-ft) centers. Periodic visual examination and photographic surveys of the highwall test areas were used to document the amount of rockfall. In addition, laser profiles of selected sections were conducted to further delineate the damage and highwall contour differences.

Jan 1, 1995

By Michel Lefebvre, André Piché

Every organization performing R&D is faced with the challenge of introducing new technologies to its operations. Difficulties must be overcome if companies are to realize the benefits anticipated from such developments. This paper outlines the difficulties encountered in transferring to operations various technologies developed at the Mining and Exploration Division of the Noranda Technology Centre. The approach used in the selection of a privileged partner for the technology transfer, the criteria motivating the choice and the process followed to establish the partnership are presented.

Jan 1, 1997

By Brian T. Brady

The year 1992 recorded unimpressive economic growth and uncertainties over what changes would occur for the financial market. Falling interest rates in the United States and elsewhere tended to exert a number of positive influences on financial markets and, indirectly, the mining and quarrying industry. The interest rate declines during 1992 were no exception. Lower rates prompted many investors to turn their attention to long-term investments such as stocks that offer potentially greater rates of return, causing large cash inflows into the equity market. Lower rates made it easier for businesses to finance growth and for consumers to finance the purchase of products businesses made. Also the rates enabled many companies to increase their health and profitability by refinancing their existing loans at lower rates. Falling interest rates were not confined to the United States. With Japan and Western Europe in the midst of economic slumps, marketing authorities in many countries overseas lowered rates in an effort to stimulate business activity. True to form, that contributed to stock market rallies abroad. Stabilizing inflation and lower interests stimulated the industry during 1992 and will likely influence favorably the industry for the next few years.

Jan 1, 1992