Search Documents

By W. L. Honnold

AS BOTH South Africa and diamond mining are unfamiliar subjects it seems best that on such an occasion as this I should endeavor to reflect the atmosphere of the place and to picture the mines from an industrial rather than from a technical standpoint and, because of long absence, my remarks must necessarily be sketchy and in some particulars not up to date. The preferable route to South Africa is via England, direct steamers from America being inferior as to service and effecting no saving of time. The newer boats are of about 20,000 tons capacity and very comfortable. Seventeen days are required for the voyage and only one stop is made-that at the island of Madiera, three days out. Between Southampton, the port of departure, and Madiera the weather may be warm or cold and the

Jan 1, 1925

By Alfred R. Powell

FOR the purposes of this discussion, the direct gasification of coal means the of hydrogen and carbon monoxide by the well-known water-gas reaction. Chemicals or other synthetic products may be made from these constituents of the gas and under such circumstances the gas is called synthesis gas. Or, if the same gas is used as a fuel, it is called blue gas or water gas. This type of gas has usually been made from coke, especially in this country, and has been used both for fuel purposes and for manufacture of chemicals. Recently, natural gas has gained the ascendancy as a source of synthesis gas for manufacture of chemicals because of its relative cheapness. As natural gas becomes less readily available and more expensive, coal will take its place as a raw material for the preparation of synthesis gas. This substitution will probably take the form of direct gasification of the coal rather than the present two-step procedure of carbonization of the coal followed by gasification of the coke. The chief reason for this probability is the intensive research now being carried on by several organizations to develop successful and economical processes for the direct gasification of coal, which is a considerably cheaper fuel than coke. In the following pages an attempt has been made to predict the chemicals that will result from this future production of synthesis gas by the direct gasification of coal. CHEMICAL REACTIONS OF SYNTHESIS GAS Given the proper conditions, there are many chemical reactions leading to production of useful products that can be carried out with this mixture of hydrogen and carbon monoxide. These many reactions may be grouped into three classes: (1) interaction of hydrogen and carbon monoxide, possibly with addition of other reactants; (2) reaction of hydrogen with various substances; (3) reaction of carbon monoxide with various substances. Thus sometimes hydrogen and carbon monoxide are utilized together in the same chemical reaction while in other instances only the hydrogen or only the carbon monoxide is required as a reactant. Fortunately, practical methods are available for securing either hydrogen or carbon monoxide from synthesis gas, some of which are also applicable for changing the ratio of these two constituents in the gas when that is desirable.

Jan 1, 1953

By C. H. Mathewson

MY treatment of the subject of "Metals of the Future" is imaginative rather than statistical or scientific, because reliable information concerning useful concentrations in the form of ore deposits of by far the majority of the elements does not exist and the chemical, physical, and mechanical properties of the unfamiliar metals are recorded only in fragmentary and uncertain form or not at all.

Jan 1, 1944

By D L. Reid, G Nwaila, J Petersen, J-P Franzidis, Y Ghorbani, M Becker, F C. de Beer, L C. Bam

Traditional methods of gold extraction have involved comminution and processing via cyanide leaching, all of which are associated with energy, cost and environmental implications. Subsequently, numerous opportunities for improvement and optimisation strategies in gold mining and processing have been explored, including heap leaching, which has significantly lowered comminution costs. This paper explores the effect of the more energy efficient high-pressure grinding rolls (HPGR) on the comminution behaviour (especially on the crack density) and cyanide leaching performance of laboratory reactors study on run-of-mine gold ore comprising the Ventersdorp Contact Reef (VCR) and the Elsburg Reefs (ER), sourced from Carletonville in the Witwatersrand Basin in South Africa. The ore was comminuted using HPGR at three different pressure settings (120, 90 and 60 bar). Large (-16/+11.2 mm) and small (-5.6/+4 mm) particles of the HPGR product where then mineralogically characterised using optical microscopy, quantitative evaluation of minerals by scanning electron microscopy (QEMSCAN) and X-ray computer tomography (CT) before cyanidation. The results of the leach experiments indicated a correlation between gold extraction, particle size and crack density. Mineralogical characterisation of the ore indicates that the Fe-sulfides present in the VCR are likely to be more reactive than those in the ER, thus having a more favourable influence on gold cyanidation. Overall, the results show promise for the heap leaching of Witwatersrand gold ores prepared using HPGR and demonstrate the value of a multi-disciplinary geometallurgical approach.CITATION:Nwaila, G, Becker, M, Ghorbani, Y, Petersen, J, Reid, D L, Bam, L C, de Beer, F C and Franzidis, J-P, 2013. Morro do Ouro geological model with a metallurgical view, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 75-84 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

A comparison of gold, platinum and sulfide ion selective electrodes was made in this investigation for determination of Eh in solutions containing sulfide ions as a model system. The comparison was made in terms of the accuracy of the measured response, response time, pH dependence, and reproducibility of measurement. In addition, the sensitivity of each electrode towards changes in sulfide ion concentration was measured in terms of the change in measured Eh per decade change in concentration of sulfide ions. On the basis of a detailed investigation of the electrode processes occurring at the surface of gold and platinum electrodes, it was postulated that within the pH range investigated these electrodes respond to changes in the hydrosulfide ion, HS-, concentration in solution. In comparison, the sulfide ion selective electrode is known to respond to changes in the sulfide ion, S-, activity in solution. Although the potentials measured with gold and platinum electrodes were mixed potentials, pretreatment procedures can be used to obtain a signal suitable for process control. For control of sulfide ions in flotation pulps, the use of a gold electrode pretreated at 1.0 V with respect to a standard hydrogen electrode is recommended.

Jan 1, 1990

By Lawrence Devon Smith

"This paper examines the impact of the various assumptions that go into an economic evaluation, and shows how these can be combined to show an exciting result that may not really exist. An example of an embellished case (the kind that one frequently sees when projects are being promoted) is developed and the cumulative impact is analysed to show the actual project underneath. The paper also points out some areas to watch for overly optimistic assumptions such as prices, inflation, and debt. The concept of a ""bare bones"" base case is proposed (constant metal prices, constant dollars, no inflation, no debt, no interest, on a project basis, after tax) as a common reference point.As well, the discount rate is examined as a fundamental means of reflecting risk in discounted cash flow evaluations. Current industry practice is discussed, and a methodology for the analysis of risk levels is proposed that assesses the constituent components of the discount rate: real interest, mineral project risks, and country risk.INTRODUCTIONOften, the first time that all of the technical and economic data for a mineral project comes together in one place is when the economic evaluation is developed. This typically happens when work on the project has progressed to a sufficient level of detail that the effort to produce a year-by-year cash flow is justified, usually at the pre-feasibility or feasibility study stage. The data involved will include:• production; tonnes waste and ore mined, ore grade, mining recovery, metallurgical recovery, metal sold• revenue; metal price, smelting & refining charges, marketing costs• operating Costs; mining, milling, administration, fees, royalties• capital Costs; exploration, development, construction, indirect costs (engineering, management), contingencies, start-up, inventories, working capital, replacement and sustaining capital, closure costs• taxes and royalties• exclusions; depreciation (this is not a cash item), sunk costs (only costs going forward)."

Jan 1, 2003

By Mansoor Barati, Shaghayegh Esfahani

"The slag from extraction of ferrous and non-ferrous metals is a potential heat source which if treated properly can contribute to recovery of a significant amount of energy. The waste heat of slag may be used to generate steam, synthetic fuel gas, or electricity. Although several technologies have been investigated for this purpose, very little has been achieved in terms implementing the technology in industry. In this article, the development and application of various granulation techniques are reviewed and the methods to recover energy from granulated slag are discussed.IntroductionEvery year, more than 422 million tons of slag is being produced around the world as a by-product of the metal manufacturing at temperatures of up to 1300-1600°C [1, 2]. Currently slags are either disposed of or treated by processes such as granulation. Through the granulation process, most slags can be converted into a material which may be fully used as a cement feedstock. Conventional cement production is an energy intensive process with large emissions of CO2; therefore, the replacement can both be energy saving and environmentally friendly. However, for this purpose, the slag should have what is known as a “glassy” content (i.e. it should be amorphous) which requires rapid cooling rates that are not easily achieved due to the very low thermal conductivity. The main challenge in all these processes is to granulate the slag at a high cooling rate while the heat is also being recovered."

Jan 1, 2012

By R Goater, P Kirsch, S Goater, I Goater

With staff productivity and retention a crucial factor in the longevity of AustraliaÆs mining industry, some mining companies are increasing their focus on the health and well-being of their people, to minimise the risks of deteriorating health in an ageing workforce. Many of AustraliaÆs mining operations rely heavily on long distance commuter (LDC) rosters, which are argued to have a significant impact upon worker health, wellbeing and lifestyle choices. The potential impact of workforce health on mine safety performance, efficiency and operating practice is an interesting additional line of enquiry. Food choice, exercise and recreation initiatives offer living and working conditions that æempower healthy choicesÆ in the shift worker community, but do not guarantee improved worker wellbeing. This paper explores first-hand the experiences of one individual over two and a half years of employment at different mine sites, under different shift conditions and across different operating crews. Novel insights and recommendations concerning the LDC lifestyle are offered through integrating reflections on one individualÆs fly-in, fly-out (FIFO) experiences in open pit mining operations from personal, family, professional and academic perspectives.CITATION:Goater, S, Goater, R, Goater, I and Kirsch, P, 2012. This life of mine - Personal reflections on the well-being of the contracted fly-in, fly-out workforce, in Proceedings Eighth Open Pit OperatorsÆ Conference , pp 31-40 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 18, 2012

By Noel A. Warner

Modern steelmaking is based on direct use of oxygen in high intensity batch reactors. A totally new approach is proposed in this paper, based on the view that pursuit of high intensity is unlikely to lead to successful coal-based continuous steelmaking. By substituting carbon dioxide and water vapor as the oxidants rather than using oxygen directly, the intensity is greatly reduced. Accordingly, subsurface formation of carbon monoxide bubbles can be avoided by careful manipulation of the three participating rate processes, gaseous diffusion, interfacial chemical kinetics and liquid phase mass transfer. Steelmaking can then be carried out without explosive ejection of molten droplets and the generation of micro-spray but rather in a controlled and fume less fashion. The vital component is the introduction of generic melt circulation technology. Three melt circulation loops in series are envisaged. Starting with a composite feed of iron ore fines, pulverized coal and lime flux, a metallized solid raft floating on molten iron is propelled out of the ironmaking loop onto the first of two downstream steelmaking loops. In the first, a liquid slag is formed, primary decarburization is undertaken not with oxygen but rather with CO2 and H2O and the melt is desulfurized. The semi-product stream enters the third melt circulation loop, where open-channel decarburization is effected along with dephosphorization to yield a low carbon steel product. Alternatively, the melt leaves the last loop to irrigate a packed tower countercurrent to argon at around 100 mbar to continuously produce ultra-low carbon (ULC) steel.

Jan 1, 2003

By Y. Fukunaka, M. Niinae, E. Kusaka, T. Kuzuya, R. Ishii

"Samarium oxalattr particles was precipitated in oxalic acid aqueous solution from samarium-loaded D2EHPA solution emulsified with a conventional impeller. The calculated fractional precipitation of samarium oxalate was reasonably compared with the value determined by chemical analysis. Morphological variation of oxalate precipitate particles was then examined with H2C2O4 concentration in aqueous solution, Sm(III) and D2EHPA concentrations in organic phase. The needle-like precipitate was identified as Sm2(C2O4)3 10H2O by XRD. Precipitates obtained at higher H2C2O4· or Sm(III) concentration greatly decreased the length of major axis of precipitate, while those at higher D2EHPA concentration increased it. The oxalate was further precipitated under ultrasonic irradiation. However, the morphological variation caused by theses processing variables was not so evident under ultrasonic irradiation as in an impeller or shaking mixer.IntroductionThe materials processing of the rare earth elements must be reviewed from the scope of industrial ecology, since they have the potential applications of magnetic materials as well as secondary battery in developing programs of the electric vehicle. The technological trend to develop the electric vehicle may greatly influence the concept of materials processing, since the global· environmental problem must accommodate with the sustainable development for mankind. The recycle design must be a key issue in the materials science and engineering.Solvent extraction provides a unique separation technology -in this sense. Doyle (1)(2) reported the integrating solvent extraction with processing of advanced ceramic materials, whose chemical composition and microstructure must be precisely controlled. In her paper, the higher productivity inherent to the present process superior to hydrolyzing metal alkoxides was emphasized. Oxalic acid has been used as precipitant for rare earth purification process, since rare earth oxalate has a very small solubility in water and can be easily decomposed to oxide. It is thus suitable for precipitation stripping agent in cationic exchange type extracting system (i.e. D2EHPA, VA-10, PC-88A and so on)."

Jan 1, 2000

By A Dal-Corobbo

Traditional acid and metalliferous drainage (AMD) wastewater treatment focuses on the iron co-precipitation/adsorption process as this is a very effective method of reducing heavy metals, including copper, lead, zinc, arsenic, etc, to parts per billion (ppb) levels in AMD wastewater streams. One of the drawbacks to this method however is the large volume of sludge produced and subsequent disposal costs for the mine site concerned.A proprietary metals treatment system called high density sludge (denoted HDS) which significantly reduces the quantity of waste generated is described in this paper. This process generates a dewatered sludge that contains in the order of 50 to 55 per cent solids. This sludge is denser than conventionally dewatered sludge, which typically contains only 20 to 30 per cent solids. This advanced process has a wide range of applications and can be easily retrofitted into existing AMD treatment systems. It has been successfully installed at several mine sites to treat AMD wastewaters. This paper discusses the high density sludge process, its benefits and provides data and operating results from pilot test installations.CITATION:Dal-Corobbo, A, 2013. High-density sludge process for treating metal bearing acid and metalliferous drainage wastewaters, in Proceedings Water in Mining 2013 , pp 217-220 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 26, 2013

With the theme of û æUnderground Ore Handling SystemÆ, Kopanang Mine completed an extensive project on a specific system with technologies for the handling of ore from a dedicated drawpoint to the shaft system. The intended rail haulage tramming system had to be capable of handling the shaft design and Life of Mine (LOM) requirements. Kopanang is an AngloGold Ashanti gold mine situated in the province of the Free State in South Africa. In the Sotho language the name æKopanangÆ means to come together as a team. ItÆs an appropriate name given that 25 companies worked on this project. The future focus at Kopanang is to establish four mining levels between 3 to 4 km south-west of the shaft and two mining levels to the west. The mine has an expected life of almost 20 years and capital was approved in order to access this reserve to establish the infrastructure to handle the ore, hence this exclusive rail haulage tramming system of close to R40 million (SA rands), which took three years to construct. Apart from the fact that this system had to be capable of handling 6500 t per shift at a depth of over 2 km over a length of 3.2 km, some of the major considering factors were: safety, economic factors with improved labour productivity, efficiency and reliability, risk termination, and ergonomics. The system comprises two 20 t locomotives operating in a double header configuration from a dedicated draw point to a dedicated tip area for the reef and waste ore. With the objective of handling high speed and high capacity, this 200 t payload train is capable of running at 35 km/h powered from a 500 volt ac overhead line. Each loco consists of two 90 kW dc motors with ac/dc power conversion on the locomotive. For the system to operate at this speed, the rail system is constructed with Class 1 rails over the entire hauling distance. The tipping mechanism is unique and the span of 11 hoppers each with a load of close to 20 t is capable of tipping the pay load of 200 t in about 20 seconds hands free.

Jan 1, 2005

By George E. Cole

While many parts of Canada's pre-Cambrian shield are well served by railway, it is frequently necessary for prospecting purposes to proceed farther into areas inaccessible by rail. To such areas in summer the canoe was at one time the accepted means of travel for the prospector while the dog team was much used in winter. Although summer travel was much improved by the development of the outboard motor, the lack of facilities for cheap transportation has been a serious hindrance to the employment of capital in opening up the distant fields. The pre-Cambrian surface of Manitoba, like that of Ontario, is hummocky, with rounded hills and ridges of rock alternating with basinlike depressions and valleys occupied by lakes and rivers Or by many low-lying portions covered with muskeg' Routes to the mines have not usually been direct or easy and seasonal vagaries have presented problems in themselves. In summer, water transportation may be the cheapest method for the longer distances but it is not every water route that will satisfy the conditions of loading freight on to a boat or scow and of conveying it without interruption to its destination. By its location, a mine may require a large program of boat transportation in summer Over part of its route, to be followed by winter freighting for the remainder. In order to carry on development and produc- tion over a long period, it may be necessary to haul large quantities of supplies during the winter. This seasonal problem, particularly for the out-of-the-way properties, is SO important and demanding as to make it a major operation in the life of the mine. The -use of the tractor during winter months for heavy machinery and bulk supplies, and the use of the airplane throughout the year for the transportation of personnel and for emergency requirements, have greatly improved transportation to places that are inaccessible by rail. Canada has pioneered in both these methods. Development oF Transportation Twenty-two years have seen a marked change in transportation methods in Canada's mining country. Horse-drawn sleighs have given way to the tractor and that to some extent has been supplanted by the airplane. One of the earliest ventures involving transportation of considerable magnitude was that of the Mandy mine, on Schist at in northern Manitoba. According to accounts of early mining activities in Manitoba, the Mandy mine, beginning December 1916, had 3300 tons of ore hauled 40 miles by sleigh to Saskatchewan River and in summer this was conveyed by barge to The Pas, 130 miles, and then by railroad to Trail, British Columbia, 1200 miles. The mine shipped 6000 tons of ore in 1918 and 15,000 tons in 1919. In winter of the latter year, as many as 300 teams of horses were used on the 40-mile stretch to

Jan 1, 1943

By George E. Cole

While many parts of Canada's pre-Cambrian shield are well served by railway, it is frequently necessary for prospecting purposes to proceed farther into areas inaccessible by rail. To such areas in summer the canoe was at one time the accepted means of travel for the prospector while the dog team was much used in winter. Although summer travel was much improved by the development of the outboard motor, the lack of facilities for cheap transportation has been a serious hindrance to the employment of capital in opening up the distant fields. The pre-Cambrian surface of Manitoba, like that of Ontario, is hummocky, with rounded hills and ridges of rock alternating with basinlike depressions and valleys occupied by lakes and rivers Or by many low-lying portions covered with muskeg' Routes to the mines have not usually been direct or easy and seasonal vagaries have presented problems in themselves. In summer, water transportation may be the cheapest method for the longer distances but it is not every water route that will satisfy the conditions of loading freight on to a boat or scow and of conveying it without interruption to its destination. By its location, a mine may require a large program of boat transportation in summer Over part of its route, to be followed by winter freighting for the remainder. In order to carry on development and produc- tion over a long period, it may be necessary to haul large quantities of supplies during the winter. This seasonal problem, particularly for the out-of-the-way properties, is SO important and demanding as to make it a major operation in the life of the mine. The -use of the tractor during winter months for heavy machinery and bulk supplies, and the use of the airplane throughout the year for the transportation of personnel and for emergency requirements, have greatly improved transportation to places that are inaccessible by rail. Canada has pioneered in both these methods. Development oF Transportation Twenty-two years have seen a marked change in transportation methods in Canada's mining country. Horse-drawn sleighs have given way to the tractor and that to some extent has been supplanted by the airplane. One of the earliest ventures involving transportation of considerable magnitude was that of the Mandy mine, on Schist at in northern Manitoba. According to accounts of early mining activities in Manitoba, the Mandy mine, beginning December 1916, had 3300 tons of ore hauled 40 miles by sleigh to Saskatchewan River and in summer this was conveyed by barge to The Pas, 130 miles, and then by railroad to Trail, British Columbia, 1200 miles. The mine shipped 6000 tons of ore in 1918 and 15,000 tons in 1919. In winter of the latter year, as many as 300 teams of horses were used on the 40-mile stretch to

Jan 1, 1943

By Y. Lahaye, O. Martinsson, B. I. Palsson

"Four main and three minor rare-earth-element (REE)-bearing minerals were identified and quantified in the Kiirunavaara apatite iron ore tailings using optical microscopy, an electron probe microanalyzer (EPMA) and a mineral liberation analyzer, and their chemical compositions were analyzed by the EPMA and laser ablation inductively coupled plasmamass spectrometry. REEs are shown to be contained in the minerals apatite, monazite, allanite, titanite, zircon, thorite and synchysite. In zircon, thorite and synchysite, they occurred in only trace amounts and contributed limited amounts to the total REE budget, and these are consequently of minor importance. Monazite occurred as inclusions in apatite and as free particles, 90 percent liberated. Allanite occurred to some degree in mixed grains with magnetite but also as free particles. Monazite mainly reported to the apatite concentrate, while allanite and titanite largely went to the tailings, the latter preferably to those fractions smaller than 38 µm. The amount of titanite in the finest tailings fraction was 2.3 weight percent, containing close to 1 percent REEs, with heavy rare earth elements (HREEs) making up 28 percent of the total REEs. However, a texturally distinct group of titanite grains showed an HREE/REE ratio of up to 67 percent. Furthermore, titanum dioxide analyses indicate that titanite is preferentially released into the tailings from the secondary magnetic separation step in the concentrator. Our data therefore suggest that titanite, occasionally enriched in HREEs, can be extracted from the processing stream and might thus be considered a new source for REEs at Kiirunavaara and similar deposits.IntroductionDeposits of apatite iron ores are the major source for iron in the European Union and are exploited by Luossavaara-Kiirunavaara AB (LKAB) in several mines in the Kiruna-Malmberget area in northern Sweden. Kiirunavaara is the largest of the apatite iron orebodies in Sweden, comprising more than 2 Gt of iron ore with 60 to 68 percent iron (Fe). At the end of 2015, the total accumulated production of crude ore from openpit and underground mining since the start of mining was 1,566 Mt, with ore reserves of 644 Mt grading 46.3 percent Fe (LKAB, 2016). The deposit defines a steeply dipping tabular body, approximately 6 km long and up to 180 m thick, extending at least 1,500 m below the surface. It is situated in the middle part of the Palaeoproterozoic Kiirunavaara Group of volcanic rocks and follows the contact between a thick pile of trachyandesitic lava and overlying pyroclastics (Martinsson, 2004)."

Jan 1, 2017

By C. C. Harris

The use of Alyavdin's equation Y(x,t) = 1-e(-bt) for describing the effect of grinding time on size distribution is discussed. The equation transforms into linear form by expressing it as log-log reciprocal (1 - Y) versus log t. For plotting, specially divided grids are available; Rosin-Rammler or Weibull charts may be used. The data of Herbst and Fuerstenau are especially useful for illustrating the Alyavdin-Weibull chart in two applications: (1) presenting data (which are relatively unaffected by experimental scatter) and comparing them with theoretical predictions, and (2) as a test for the zero-order kinetics production hypothesis. The chart based on the Alyavdin-Weibull equation is suggested as a useful aid in the analysis of kinetic data (/ versus f), though not as a procedure in its own right. Proposed applications are (1) displaying data with excellent clarity, since it avoids the kind of congestion inherent in some other plotting methods, and (2) as a test for assumed kinetic relationships. Sometimes, equation 1 describes the data quite closely, and in these cases the parameter values appear to be related to certain operating conditions.

Dec 1, 1971

By L. Wade

The advent of relatively cheap computing power has precipitated a rapid growth of computer usage in the mining industry. In order to obtain most benefit from this development a need is recognised for the future mining graduate to be trained in computer literacy. This paper outlines the type of training required and describes progress to date with such a programme at the University of the Witwatersrand. Certain challenges concerning the teaching effort are discussed.

Jan 1, 1987

An image analysis system has been built which automatically digitizes camera input of rock fragments, analyses the digitised data to determine the sizes and shapes of the rock fragments, and outputs the analysed data to a printer in the form of a histogram or a scatter chart. The high speed of such a system allows for direct collection of data from material thrown into the air by blasting, material travelling on a conveyor belt, and material free-falling on to a stock-pile or into or out of a rock-crusher. Data on the blasted, un-crushed material provides information on changes in the lithology and structure of the rock face as it is quarried or mined: flatter fragments may represent approach to a brittle, unstable shear zone, or a change from sandstone to shale; so that the informa- tion reflects the effect on the sizes and shapes of the fragments by the blasting process and/or by the rock structure. The size and shape distributions of rock fragments produced during blasting and during processing may now be continuously monitored. Such detailed analysis of the results of fragmentation is labour-intensive and expensive when the size and shape distributions are obtained manually, but is cheap and efficient when using this image analysis system. Such a system will enable the results of blasting, quarrying, mining and crushing to be cheaply analysed and correlated with current and changing indus- trial practice so leading the way to increased productivity.

Jan 1, 1988

In connection with the recent visit of the Special Mission of British Ministry of Munitions to the United States, the United Engineering Societies gave a dinner to the members of the. Mission on Tuesday evening, Nov. 13. This was the only public function on behalf of the visiting commissioners while they were in New York. During the remainder of their visit they were in daily conference with bankers, merchants' associations, labor federations, and other organizations. The result of these conferences will doubtless have an important influence on the manufacture of war supplies in the United States, since it will enable our business men and manufacturers to avoid a good many of the mistakes that unfortunately occurred in England at the beginning of the war. At present, fully 90 per cent. of the employees of British munition factories are omen, and the problem of employing women in the industries of the United States will doubtless soon be encountered with increasing frequency.

Jan 1, 1918

By Robert F. Calman

OUTLINE FIVE EXAMPLES OF GOLD-LINKED FINANCINGS 1. Financing the Lupin Mine • Sale of Cdn $40.0 million of 12% preferred shares and Cdn $40.0 million of Gold Purchase Warrants @ $595 per ounce. 2. Financing the Copper Range acquisition • Borrowing 100,000 ounces from a Canadian chartered bank @ US$307 for five years. 3. Financing the Round Mountain expansion • Borrowing up to US $80.0 million in dollars, convertible into gold, repayable over five years from a group of North American banks. 4. Financing the Tenneco Precious Metals Division acquisition •Sale of SFr 110.0 million of ten year 3-718% bonds with warrants to buy 132,000 ounces of gold at US $560. 5. On Forward Sales, Puts and Calls • Gold, Silver, Canadian Dollars, Swiss Francs THE FINANCIAL RULES AT ECHO BAY 1. Never bet the company 2. Equity is the primary form of capital for a gold mining company 3. On debt 4. The Yardsticks for Corporate Decisions 5. Financial Community Relationships 6. Dividend Policy No Text Available Tables Follow

Jan 1, 1990