Search Documents

By John K. Gustafson

The title of my talk is "The Gold Miner and the Future of Gold." This title might just as accurately have been stated as "Gold and the Future of the Gold Miner." Since prehistoric times gold has been sought by mankind for its beauty and its unusual physical and chemical properties. Early in the dawn of civilization it became the ultimate unit of value and lubricated trade between peoples. For at least 6000 years, gold has been used to barter for other commodities. It has been prospected for, treasured, made into works of art and personal adornment, and from time to time has been the object of conquest. Because of its predominant role in recent centuries as a basis for money, economists began to think of it solely in these terms. Annoyed by the disciplinary pressure of gold on the money manager's desire to manipulate money, the famous economist, John Maynard Keynes, characterized it as a "barbaric relic of the past", a characterization repeated by William McChesney Martin, Jr., when he was head of the Federal Reserve Bank. Gold, however, has physical and chemical properties that make it one of the most useful metals in the modern world.' It is the most ductile metal known. An ounce of gold, for example, can be drawn into a continuous wire over 35 miles long. It also is so malleable that an ounce of gold can be beaten into films ten one-millionths of an inch thick sufficient to cover 68 sq ft of surface. It has a density of 19.3 and is so heavy that 1 cu ft of gold weighs more than half a ton. Gold is nonmagnetic and has a high electric conductivity, only slightly less than silver and copper. Gold is so inert to all the chemicals found in nature that gold coins and jewelry buried beneath the soil or at the bottom of the sea for thousands of years appear to be as bright and perfect as when they were first immersed. Finally, gold has an extremely high reflectivity both to light and infrared rays. Because of these qualities, in addition to its rare beauty, industrial and artistic uses of gold have been growing rapidly. On a world basis, a recent study estimated that in 1960 about 750 tons of gold were used for fabrication, and that the amount had grown to about 1296 tons in 1968. My objective in this talk is to discuss with you the present and future supply of and demand for gold on a worldwide basis and the effect these forces are likely to have on the price the miner can expect to receive for the gold he produces. This is a highly controversial and risky subject to discuss before any audience. Nevertheless, it is a subject that I live with constantly as Chairman of the

Jan 1, 1972

By Roger C. Malan

The Monument Valley and White Canyon districts are in northeastern Arizona and southeastern Utah. Exploration and mining for uranium has been conducted in these districts since the late 1940's. In July 1965, ore reserves plus ore production at 174 properties were approximately 3.3 million tons of ore containing about 19 million pounds U3O8, of which about 10 per cent remained in reserves. The two largest mines, Monument No. 2 and Happy Jack, together account for about 45 per cent of the sum of production and reserves. Approximately half the deposits in these districts contain less than 1000 tons of ore. Nearly 5000 feet of Permian, Triassic, and Jurassic sedimentary rocks, mainly continental in origin, are exposed in these districts. All the important uranium deposits are in the Shinarump, the basal member of the Chinle Formation of Triassic age. The Shinarump lies on a widespread unconformity. It is composed of fluvial sediments, generally less than 100 feet thick, that were deposited by streams flowing from a source to the south. Most of the deposits are in an arcuate belt, convex to the west. This belt, 3 to 12 miles wide, extends from Monument Valley northward nearly 130 miles. It is along the western flank of the ancient Monument Valley-Monticello upland, an area that was slightly uplifted at the beginning and again at the end of deposition of the Shinarump. Erosion and subsequent reworking of the Shinarump sediments in the vicinity of this upland are postulated to have made possible the transportation, in solution, of the uranium contained in these sediments. The soluble uranium probably was carried by migrating ground water into sites favorable for precipitation in Shinarump beds bordering the upland. Thus, the original very small amounts of dispersed uranium in the early Shinarump sediments were accreted in the favorable belt where the accumulations of carbonaceous plant remains and their decay products provided a persistent reducing environment.

Jan 1, 1968

By Raymond F. Gray, Victor J. Hoffman, Richard J. Bagan, Harold L. McKinley

The first indication of tungsten in the Bishop area was the discovery of scheelite concentrations in a gold placer operation in the ( since named) Tungsten Hills in 1913. After early intermittent production, the deposits of the district were slowly discovered and developed. The Pine Creek mine, located in 1916 and under the direction of Union Carbide Corporation since 1935, became the principal producer in the district. By the end of 1965, the total production of the district had reached 3,450,932 units of WO3, 17,071,242 pounds of molybdenum, and 19,599,110 pounds of copper. The topography of the district is characterized by its extreme relief, ranging in elevation from 13,986 feet to about 4400 feet in the Mount Tom quadrangle. The present topography is the result of the uplift and erosion of the Sierra Nevada and the great subsidence of the Owens Valley with its related deposition and volcanism. The general structure of the pre-Tertiary rocks consists of a series of tightly-folded metasedimentary and metavolcanic rock remnants surrounded by exposed plutons ranging in composition from hornblende gabbro to alaskite. The metasedimentary rocks consist of low- to intermediate-grade metamorphic equivalents of fine-grained sediments deposited during the Paleozoic era in a miogeosynclinal environment. Later volcanics were deposited in a eugeosyncline. The ore bodies in the Bishop district consist of scheelite-bearing tactite formed by the pyrometasomatic replacement* of calcareous sediments along the contact with an acidic granitic intrusive. A number of the metasedimentary remnants have had tungsten deposited along their edges.

Jan 1, 1968

By John D. Ridge

Here are summarized 162 papers, published between 1933 and 1967, that deal with various aspects of ore genesis. Emphasis is placed on additions to, or modifications of, ore-formation theory, no matter what type of deposit is discussed. More space is given to papers on the formation of base-metal sulfides solely because more papers are written on this subject. The final conclusion is reached that a chemically and geologically sound theory for the genesis of ore deposits can be built around the concept of concentration of ore e’ements in a magmatically produced ore fluid and around such surface processes as may act to concentrate economically valuable materials from rocks of any origin exposed at the surface.

Jan 1, 1968

Jan 1, 1902

By James P. Sloss

A PERMANENT assay office is commonly established as part of the general plant equipment of operating gold and silver properties, but during the development stage of a mine, the cost of such an office is usually so assay work must be done elsewhere. In most instances only a few samples will be taken each day, but if the mine is to be developed scientifically, the analyses of those samples will guide further development. Under such circumstances, the time element in assay returns is important, since the lapse between the taking of the samples and the receipt of results may determine the success or failure of a small-mine operator. The following description of fur-

Jan 1, 1935

By S. K. Bradford

(Pittsburg Meeting, March, 1910.) FOR years past I have traveled in quest of promising mining-properties, over almost impassable mountain-trails to remote places in the mining-regions, usually, many miles from an assay-office. If, upon examination, the formation and the ore-deposit appeared favorable, a quick determination of the value of my samples was necessary, in order that I might take intelligent action with reference to the acquisition of the property. A journey with my samples to civilized regions often meant weeks of delay, and perhaps loss of opportunity. How many, under similar circumstances, have returned with their assay-results from such a journey, only to find that some audacious speculator had " optioned" the property ! True, a first payment could have been made and the chances taken on the results; but experience has taught that rich-looking ore is not of necessity valuable. Personally, I would not hazard a ten-dollar bill on any property without first determining by assay the value of the ore. To carry the usual complete assay-paraphernalia over such mountain-trails was impracticable by reason of the loss of time involved, the great expense of transportation (charged according to weight), and the fact that a few such trips would almost certainly wreck the outfit. For these reasons I began a process of elimination and substitution which finally enabled me to carry, in an ordinary 26-in. valise, sufficient apparatus and supplies for, say, 100 assays of adequate commercial accuracy. My final outfit was as follows: APPARATUS. Small hammer; steel mortar (2.5 in. wide, 3 in. high, with stand sawed off flat, so that it can be used as an anvil and for

Jan 1, 1911

By Louis Moyd

In the preparation of illustrations to accompany reports of investigations concerning particle shapes of various natural and manufactured materials proposed for use as fine aggretates in concrete structures, it was found that stereoscopic views of such materials presented the information much more effectively than the usual two-dimensional photographs. With the whole-hearted cooperation of the Photographic Section, a technique was developed in the petrographic laboratory of the Concrete Research Division, U.S. Corps of Engineers, at Clinton, Miss., for simple and rapid preparation of paired stereoscopic photographs and micrographs. The method requires only equipment which is usually part of the general stock of any laboratory, and it is adaptable for all purposes in which three-dimensional views would be found superior to ordinary photographs.

Jan 1, 1949

By AIME AIME

HOWARD H. PRESTON, professor of economics and business at the University of Washington, presented a paper before the North Pacific Section, A.I.M.E., on Jan. 23, on the "Economic Aspects of Gold and Silver." He carefully reviewed recent governmental actions that have affected those metals and gave an interpretation of their effects. A brief excerpt from his address; follows: Including the proclamation of March 6, 1933, the principal steps of the present Administration which have carried the United States off the gold standard and led up to the present program have been: (1) The Presidential proclamation of March 6 controlling gold. (2) The monetary sections of the Emergency Banking Act of March 9. (3) Mobilization of gold under Executive orders issued March 10 and April 5. (4) The gold embargo by Executive order, April 20. (5) The controlled inflation bill, May 12. (6) The joint resolution abrogating the gold clauses, June 5. (7) The Executive orders on newly mined gold, Aug. 28. (8) The President's radio address of Oct. 22 and the R.F.C. gold-buying program. (9) New anti-hoarding order calling in small holdings of gold, Dec. 28, 1933 and Jan. 15, 1934. (10) Nationalization and revaluation of gold' (Message to Congress, Jan. 15).

Jan 1, 1934

By Lawrence Addicks

T HIS has been a most momentous year in the annals of the Institute. We have been in the midst of a situation which, were it not for the convulsions of social unrest with which life is surrounded on every side, would have attracted the attention of the world at large. I do not refer to the desperate campaign for new members. That has gone on much as usual except that, this being leap year, the annual proposal to the M. & M. Society has been omitted. Nor do I refer to the desperate situation which we found in other directions, the spread of Bolshevism, the burning of the Engineers' Club, the fact that the selling of copper appears to have become one of the lost arts. No, I speak of the great question which has to be. settled once and for all, as to whether this great Institute should adopt simplified spelling. The whole trouble started in the ranks of the California Hysterical Society. It appears, while most of the San Francisco members can read and write, several of them cannot spell. It also appears that the Secretary, in editing the Transactions, has perhaps made just a little bit too much of a point of employing the correct Stoughton idiom. At any rate, the rebels filed an amendment to the constitution, and the stage was set for civil war, with perhaps more stress on war than on civil.

Jan 1, 1920

By J. S. UNGER

A LARGE proportion of the coke used is made in the by-product oven from the high-volatile coals mined in the adjacent district. At the beginning it was feared good by-product blast-furnace coke could not be made with our coals. By experimenting with various mixtures of coals, coking time, oven design, and coking temperatures, much has already been accomplished. The results show that a hard, dense coke, not easily broken by handling, can be produced. In its present state it is not all that could be desired, but it is being constantly improved. Such coke has been used alone as the fuel on several of the blast furnaces producing the highest daily production in the Pittsburgh district. Many of the coals in the Pittsburgh district when coked in the by-product oven yield a gas which contains a high percentage of sulfur, which is objection- able for many metallurgical operations. As this fuel is gradually replacing the ideal fuel, natural gas, which is becoming less plentiful, studies are being made of the best methods for purification. Some metallurgists believe sulfur to be a very injurious element in steel. Recent investigations by Government bureaus, scientific bodies and private firms, seem to indicate that a reasonable amount of sulfur may exist in steel without detriment. Without wishing to provoke any metallurgical controversy on the subject of sulfur, the fact remains that the daily purification

Jan 1, 1926

By CLARENCE WM. POY

THE most common difficulty faced by an engineer or mine operator when opening a new property in a new field is the lack of roads and of cheap transportation. This one item often swings the balance of success or failure in starting a project. In Alaska, as elsewhere, such problems are more or less serious. In the boom days around the Valdez district, as well as in other parts of this territory, freighting was accom¬plished by dog teams or horses, or even by men that were willing to put their shoulders into harness, because there were virtually no roads. More important, there was only one time when supplies could be transported, and that was when there was suffi¬cient snow on the ground following a heavy wind. Then, and only then, could one depend on the snow to support horses and sleighs, and be sure that the gulleys, streams, and crevices in the glaciers were filled with snow to avoid pitfalls. These methods were used when one had no roads, no streams in the summer to float a barge, or even a trail for a pack train. If the snow was deep and soft, trans

Jan 1, 1935

By Frank Armstrong

ALL the mining machinery of the Penn Iron Mining Co. has been operated by electric power for several years and when another shovel for stockpile loading was required the advantages of an electric shovel were naturally considered. After considerable study, serious objections suggested themselves the use of a shovel operated directly by electrical apparatus by reason of the complicated control, severe service on the motors FIG. 1.-ELECTRO-HYDRAULIC SHOVEL FIG:. 2-THE SHOVEL AS IT WAS OPERATED CINDER CONSTRUCTION. THE FIRST YEAR. and the heavy surges of current required from the line. It was finally decided to construct an electro-hydraulic shovel using water under pressure to perform all the necessary operations except that of propelling, for which a separate motor was best suited. A car body with boom, dipper handle and dipper of late design, but without any of the steam machinery, was purchased. A motor-driven centrifugal pump, a pressure tank, an air tank, a small air compressor and water cylinders with plungers, pistons and valves, were installed in place of the; steam equipment. Fig. 1 shows this shovel under construction and Fig. 2 shows it as it was operated during the first year, the summer of 1914. The large tank at the back of the car, in Fig. 1, carried air under

Jan 2, 1916

By C. Richard Tinsley

INTRODUCTION The economic analysis (Chapter 3), the engineering studies (Chapter 10), the credit structure (and the consequential funding sources) - Chapter 11, and the overall feasibility structure for any venture are all directed to determining one major decision element: How much and how certain is the reward for taking these risks? Risk assessment is a surprisingly weak area of analysis and is usually addressed in a checklist fashion. It is much preferable to deal within a risk system so that the inevitable tradeoffs among risks are correctly made. DEFINITION The first step toward risk definition must be to ascertain all of the risks to which a project or a company is exposed; otherwise one will remain ignorant of the possibility of a financially crippling loss until it occurs. (Carter and Crockford, 1974). However, simply stating what "risk" is can lead to debate. For example, risk could be (adapted from Vaughan, 1982): -the chance of a loss - uncertainty of loss -possibility of loss - uncertainty -dispersion of actual from expected results - probability of an outcome different from the one expected - possibility of an occurrence of an undesirable contingency -a condition in which a possibility of a loss exists. For the minerals industry financier, the last definition is probably the most appropriate. However, from a mineral company's point of view the definition might well include the possibility of not achieving the expected financial return. RISK CLASSIFICATION Risk identification will be readily agreed as the all-important first step. There are five major "branches" of risk classification. These are: -Statistical -Modellers -Checklist -Project Financing -Insurance The Statistical set discovered probability theory and any risk discussion soon deteriorates into a mathematical jungle (Megill, 1977; Hartman, 1976; Reutlinger, 1970; and Pouliquen, 1970).Their use of terminology tells its own story: coin toss (binomial distribution), gamblers' ruin, delphi (oracle) techniques, monte-carlo simulations, random walks, etcetera. These techniques inadequately represent the judgements necessary in an increasingly complicated and interrelated world. The risk Modellers have turned to the computer to handle these inter-relationships but soon find barriers because of "simultaneity". Certainly the computer has its uses to conduct various analyses (marketed as "sensitivity" analyses) but very often one finds that this involves changing one or two variables at a time, all other things being equal. Unfortunately, in a modern and complex world all other things do not remain equal. The statisticians will, no doubt, jump to their own defence by citing this

Jan 1, 1985

By AIME AIME

THE twenty-second annual meeting of the Canadian Mining Institute was held at the King Edward Hotel, Toronto, on Mar. 8, 9, and 10, and was followed on the 11th by an all-day excursion to the International Nickel Refinery at Port Colborne. The meeting was very well attended and dealt with some of the most important matters, both technical and economic, that have ever come before the Canadian Institute. The question of licensing engineers is before the Canadian members as it is before our own in this country and the attitude of the mining engineers across the border is like that of the American mining engineers, opposed to the licensing of the mining. engineer, however they may feel toward the licensing of other branches of the engineering profession. It was well pointed out that such a law, had it been in existence in the last decade or two, would probably have prevented the rapid development of Canada's mines. Whereas one civil engineer can run a line of survey as well as another, perhaps, it is only a question in his case of whether he can or cannot survey. In the case of a mining engineer employed by a man with capital to invest in a development project, unless the man with the money has confidence in the judgment of his engineer the fact that he is a professional man would carry little weight in inducing a large investment toward the development of Canada's resources. It was also pointed out that although the Institute as a whole had not passed on the matter, it would probably be opposed to legislation aiming only for self-interest, but would be heartily in accord with legislation which could be shown to be for the service of the community at large.

Jan 1, 1920

LOCAL COMMITTEE OF ARRANGEMENTS. Major J. W. Powell, Chairman; F. P. Dewey. Secretary; S. F. Emmons, A. S. Hewitt, J. P- Hilgard, Charles Knap, and F. W. Taylor. THE opening session was held in the hall of the new National Museum, on Tuesday evening, February 21st. President Metcalf introduced General W. T. Sherman, one of the Regents of the Smithsonian Institution, who read the following address: ADDRESS OF GENERAL SHERMAN. MR. PRESIDENT AND GENTLEMEN : I have been invited to meet you here this evening to extend to you the cordial greeting of the regents of the Smithsonian Institution, and to assure you that they are most happy to have it in their power to place at your disposal this beautiful hall, dedicated to science and art. This National Museum is the property of the United States, of which the regents of the Smithsonian are simply the custodians, and the board has delegated to its secretary, Professor Baird, the right to extend its use to the National Academy of Sciences and like kindred societies, among which we are glad to class the Institute of Mining Engineers. It is eminently fit that you should meet here at this, the nation's capital, under a roof partly your own, devoted to natural sciences, and in the shadow of the Smithsonian, founded for the exclusive purpose of collecting and diffusing knowledge among men. Of all the workers employed on earth no single class seem to me more worthy the respect of their fellows than those who seek beneath the surface for the useful minerals and metals which contribute so largely to the wealth and comfort of mankind. In no branch of human industry does intelligence come so immediately in contact with labor. To the mining engineer chemistry, mineralogy, and geology are as reading, writing, and arithmetic to the merchant;

Jan 1, 1882

By Will Mitchell

The classical definition of a beneficiation engineer as one who treats an ore in order to separate and discard worthless fractions by essentially physical means is obsolete. Technology in the profession has advanced so rapidly during the last two or three years that educators have not been able to coin definitions to keep up with the pace. In the past some people have hesitated to include leaching or even agglomeration as minerals beneficiation, because of the major chemical changes involved. This view has fallen by the wayside, especially because a majority in the profession have become actively involved in extraction and pyro processes that go far beyond the original definition of mineral dressing. To say that there is a great revival of interest in leaching is putting it mildly, for the uranium business, like the gold business, now depends almost entirely on leaching. This revival of leaching, long overdue in mineral engineering, has been stimulated this year, especially as a result of the relaxation of security restrictions surrounding the recovery of uranium from its ores. It has brought new unit operations to minerals beneficiation, namely ion exchange and solvent extraction. These operations have appeared as resin-in-pulp, solvent-in-pulp, and liquid-liquid systems. In many cases these leaching and separation procedures, now reaching the production stage, have been engineered by minerals beneficiators. The trend toward leaching has also had impact on the technology of beneficiating other nonferrous minerals, especially copper, manganese, columbium, tantalum, nickel, cobalt, titanium, and the rare earths.

Feb 1, 1956

By Herbert Clark Hoover, Lou Henry Hoover

As stated in the preface, the nomenclature to be adopted for weights and measures has presented great difficulty. Agricola uses, throughout, the Roman and the Romanized Greek scales, but in many cases he uses these terms merely as lingual equivalents for the .German quantities of his day. Moreover the classic language sometimes failed him, whereupon he coined new Latin terms adapted from the Roman scale, and thus added further confusion. We can, perhaps, make the matter dearer by an illustration of a case in weights. The Roman centumpondium, composed of zoo librae, the old German ceniner of 100 pfundt, and the English hundredweight of 1112 pounds can be called lingual equivalents. The first weighs about 494,600 Troy grains, the second 721,900, and the third 784,000. While the divisions of the centumpondium and the centner are the same, the Libra is divided into 12 unciae and the pfundt into 16 unizen, and in most places a summation of the units given proves that the author had in mind the Roman ratios. However, on p. 509 he makes the direct statement that the centumpondium weighs 146 librae, which would be about the correct weight if the centumpondium referred to was a ceniner. If we take an example such as " each centumpondium of lead contains one uncia of silver", and reduce it according to purely lingual equivalents, we should find that it runs 24.3 Troy ounces per short ton, on the basis of Roman values, and 18.25 ounces per short ton, on the basis of old German. If we were to translate these into English lingual equivalents of one ounce per hundredweight, then the value would be 17.9 ounces per short ton. [ ]

Jan 1, 1950

By William B. Plank

IN this paper are presented the results of a complete statistical survey of the enrolment, courses and degrees, and the employment situation of recent graduates in all of the 46 institutions in the United States, including Alaska, and four of the six schools in Canada that grant degrees in mineral technology. The data were collected by the writer by means of a questionnaire in December, 1933, to which all the institutions, except one, replied. Included also are data of a similar study made by the writer in May, 1933, for the S. P. E. E. summer session of mining and metallurgical teachers at the University of Wisconsin and published in the Journal of Engineering Education for December. 1933. Some of the data of a paper of the writer's entitled, "The Trend of Mineral Engineering Student Enrolment in the United States," read at the A. I. M. E. meeting on Feb. 16. 1931, are given for comparison. Acknowledgment is made to all the administrative officers of the institutions who took the time from their busy lives to supply the in- formation asked for. Their fine cooperation has alone made possible these two surveys with a completeness of detail never before attempted

Jan 1, 1934

By Jacques B. Wertz

Both the San Andreas fault complex and the Murray fracture zone are apparently found to be contemporaneous with the Laramide mineralization period. Their compounding effects certainly have disturbed the Texas lineament belt and its components with serious lateral offsets and most probably have been instrumental in allowing intrusives to be emplaced as well as mineralization to accompany these intrusions at some of the fracture intersections. While the main fracture centers can be almost accepted as being structurally linked together, the Texas lineament trend definitely predominates, exerting a prevailing direction to graben (Silver Bell) and to elongated depressions (Bisbee). That this lineament belt also influenced the concomitant mineralization seems a logical inference. The orebodies are generally found at intersections near the most centrally-located intrusive with a distance varying from contiguity to one or two miles. The Southeast Arizona copper province owes its existence primarily to a particularly favorable structural setting of broad semi-continental scope. Thus, various regional structural elements are to be considered as possibly direct or remote cause for the widespread mineralization, although the one or the ones really responsible may never be singled out. There arc three basic regional elements: (1) The north-northwest-trending anticlinorium that diagonally crosses Arizona is quite obvious because many mountain ranges follow this direction. This anti- clinorium, which merges northward into the Wasatch-Jerome Belt, marks a broad zone of weakness where tension seems to prevail. Mineralized trends such as Jerome-San Manuel-Bisbee may give some weight to the economic value of this structural element. (2) Northeast-trending fractures, parallel to the Colorado Mineral Belt (Landwehr, 1967), appear troincident with mineralization as evidenced by the Questa-Grants-Morenci and the Lordsburg- Tyrone-Santa Rita alignments. This structural direction is accepted as one of the most economically significant in the Southwestern United States. (3) The Texas Lineament.

Jan 1, 1970