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By Karl J. C. Harries

"8.1. INTRODUCTIONThe purpose of this chapter is not to provide precedents or examples of provisions, but rather to offer some comments that may be worth considering in the negotiation or review of an agreement. These comments are not intended to be exhaustive. It must also be noted that, although the chapter is written in the context of a common law joint venture, the concepts and concerns for the most part apply equally to a corporation that is owned by only a few shareholders for the purpose of participating in the project held by the corporation.The corporation has the advantage of having much of its organization established by local corporate law, but the particular wishes of the shareholders will appear in a shareholders’ agreement. The principal differences will be surprisingly small, save for the acquisition provisions that appear in a farm-in agreement1 and the substantial portion of the joint venture agreement devoted to creating and organizing the joint venture entity. Where the joint venture agreement refers to venturers and committees, the shareholders’ agreement will refer to shareholders and the board of directors, but both will have to deal with such basic matters as decision-making, default, dispute resolution, first refusals, funding, and carrying out work on the project. For convenience, this chapter usually refers to “venturers”, which may be taken to include shareholders.Negotiations give rise to many varying circumstances and concerns, and the main asset of the negotiator is an open and flexible mind. A desired result can often be accomplished indirectly in circumstances where the other side has adopted an inflexible position on a suggested approach. As precedents and standard forms tend to focus a negotiator’s thinking, they can be counterproductive. It is after the deal has been agreed to that a precedent can be of great assistance to the draftsman.The concepts are arranged in alphabetical order for convenience, not to suggest their sequence or position in an agreement or their relative importance. An agreement should adopt a progression of subjects in what the parties consider a logical sequence to read and work with. However, experience has indicated that it is best to set out in a single article the substance of the deal (i.e. the terms relating to the farm-in and what the acquiring party has to do to acquire his interest), preferably near the beginning of an agreement. The acquisition of the interest is, after all, the first order of business. The joint venture provisions will then follow in a reasonable sequence. It is also worthwhile to devote a single article to any special provisions that may apply during the earn-in period. For example, it may be provided that, although all work is to be done by the acquiring party as operator (with the duty of care, liability, and reporting requirements as set out in the joint venture sections of the agreement), but during the acquisition period, the acquiring party, acting as operator, may be at liberty to do such work as he wishes, without the need for any committee or other approvals, and committee meetings may be suspended.2An agreement is divided into paragraphs and articles to make it easier for the parties to read and understand, and to assist a party in finding “that provision” when the need arises. A comprehensive table of contents will also assist the parties who must work under an agreement. An added benefit of a table of contents is that in preparing it, the draftsman sees the overall structure of the agreement and will often catch and correct flaws."

Jan 1, 2003

By J. Douglas Causey

In 1984, at the request of the Bureau of Land Management, the Bureau of Mines studied 9,600 acres of the 12,350-acre Antelope Creek Wilderness Study Area (MT-065-266) in order to evaluate its mineral resources. Within this report, these 9,600 acres are referred to as the study area. The Antelope Creek Wilderness Study Area, Phillips County, MT, adjoins the north end of the Charles M. Russell Wildlife Refuge. Considered part of the Missouri River Breaks, the area straddles the edge of a thrust fault zone that has deformed the Mesozoic strata in the west half of the area. Shale, siltstone, and sandstone of Cretaceous Age are exposed in the area. Coal beds averaging 3.0 ft thick occur in the Judith River Formation. About 0.20 million short tons of coal were mined from the Judith River Formation adjacent to the west boundary of the area; no production is known in the study area.

Jan 1, 1986

By Joseph M. Kuchta

The limits of flammability and minimum autoignition temperature of a fuel are important elements in assessing fire and explosion hazards that may exist when using or handling the fuel. The limits of flammability define the range of compositions of the fuel gas or vapor mixed with an oxidant through which a flame, initiated by an outside energy source such as an electrical spark, can propagate. The minimum autoignition temperature (M.A.I.T.) is the lowest temperature at which the fuel vapors ignite spontaneously in a specified medium; in this case the ignition energy is supplied by the heat content of tae environment. This temperature is also referred to as S.I.T. value by some authors. Because the autoignition of a fuel also depends on the time interval during which the fuel is subjected to heat, ignition delays are significant. Ignition delay is defined here as the total time elapsed between the introduction of the liquid fuel into the oxidizing atmosphere and the appearance of a flame. This time interval includes both the physical and chemical processes leading to ignition. The ignition delay is usually maximum at the M.A.I.T, and decreases as the temperature of the system is increased. The flash point and the fire point are also useful in assessing the fire and explosion hazards of a fuel. The flash point is the lowest temperature at which saturated, flammable fuel vapor-air mixtures are formed at atmospheric pressure and, therefore, it is essentially the lower limit of flammability

Jan 1, 1962

By M. J. Mullikin, J. B. Conway

Equations capable of representing combined first -and second-stage creep behavior include the Andrade, Cottrell-Aytekin, Garofalo, and de Lacombe equations along with a third-degree polynomial in t1/3. Employing some recent high- temperature creep data for arc-cast tungsten the effectiveness of these expressions was evaluated. It was found that, in this instance, the most accurate representations were afforded by the third-degree polynomial in t1/3 and the de Lacombe equation. Also noted was the fact that the Andrade equation gave results just slightly inferior to those obtained with the third-degree polynomial, definitely better than those due to the Cottrell-Aytekin equation, and slightly superior to those furnished by the Garofalo equation. EXPRESSIONS designed to describe combined first -and second-stage creep behavior must possess certain specific characteristics. At time zero the equation must reduce to a strain value corresponding to the instantaneous deformation on loading. Then in the early moments following load application transient-creep behavior must be described to reflect a creep rate which constantly decreases with time. And finally at larger time values linear (or at least nearly linear) strain-time behavior must be accounted for to yield the steady state or minimum creep rate. Some equations, such as the one based on the parabolic creep law, yield fairly satisfactory results in transient analyses but are not effective at all when combined first- and second-stage data are to be analyzed. Other equations give equally accurate results in both instances although in general the complexity of the equation is slightly increased. For example the Andrade1 equation: has found fairly general application in expressing first-stage creep behavior. Furthermore the contribution of the exponential term becomes more and more prominent as the time increases and causes this equation to exhibit a point of inflection at large values of time. With a proper selection of equation constants the curve can be made fairly flat in the region of the inflection point indicating a desirable equation form for combined first- and second-stage creep analysis. Another equation form with the proper characteristic is that of Cottrell and Aytekin:2 e =a +bt1/3 +ct [2] Obviously as time increases the first derivative of this expression approaches a constant value to suggest application to combined first- and second-stage creep analysis. Similarly a third-degree polynomial in t1/3: e -a + bt1/3 + ct2/3 +dt [3] has the same characteristics. Expressions of this type have been shown3 to be very effective in the analysis of transient-creep behavior and the fact that the first derivative has the same characteristic as Eq. [2] suggests use in the combined analysis.

Jan 1, 1967

By Verya Nasri, Heather M. Ivory, Kevin Clarke, Eric Cole

Development of the New York City Water Supply System The New York City water supply system serves a population of almost nine million, including residents in neighboring counties. Peak day demands on the system are currently running at about 70 m3/sec (about 1,600 mgd), which is significantly lower than in the 1990s. This trend of reducing demands over the past 25 years, which has been experienced in other major urban centers in the US, is mainly the result of conservation measures and increased cost consciousness on the part of water users. In the long term, demands are expected to once again follow an increasing trend with population growth, so that by the end of the planning horizon of these studies, the year2045, the peak day demand is expected to increase to about 85 m3/sec (2,000 mgd).The system is served largely by surface water sources, regulated by a system of 19reservoirs and three controlled lakes, which are connected to the City by a series of aqueducts, the longest of which is about 87 km (54 miles). The total storage in the sys-tem amounts to about 560 billion gallons, providing a system firm yield of about1300 mgd. The Delaware system provides about 50% of the City’s water, the Catskill about 40%, with the remaining 10% provided by the Croton. The system as a whole, which is shown on Figure 1, has been built up over the past 150 years, and is truly a marvel of engineering. The Catskill and Delaware aqueducts both discharge into Kensico Reservoir, which is a daily balancing reservoir located in Westchester County about 24 km(15 miles) north of the New York City line. The two aqueducts extend south for a further 14 miles to combine again at Hillview Reservoir in the Bronx, which provides hourly balancing storage for New York City system. The Croton aqueduct runs nearby as shown on Figure 2, but does not connect into the two reservoirs. From Hillview Reservoir the water is supplied to the city via three main distribution tunnels, known as City Tunnels 1, 2, and 3. City Tunnel No.1 was developed in the 1920s as part of the Catskill system. City Tunnel No. 2 followed in the 1960s as part of the Delaware system. City Tunnel No. 3 (CT3) is partly under construction and partly in operation, and is being implemented to permit the other distribution tunnels to be taken out of operation for the first time for inspection and maintenance. Presently CT3 is supplied with water from Hillview Reservoir via a large underground valve chamber, the Van

Jan 1, 2007

The panic bars (and associated linkages and electrical circuitry) that are defined in this document are a machine operator-actuated control for the emergency deenergization of the tram motors on self-propelled, electric and diesel face equipment: including haulage equipment such as shuttle cars. There are nine basic types of panic bars (and several variations) that arc recommended in this document, but all of the panic bars are characteristically of the "fire door" type that is frequently encountered on outside exit doors of many public and some commercial buildings. It is also the intent of the following panic bar designs that, when emergency brakes are added to the face equipment machinery for which they arc required, that they be designed and hooked up so that actuation of the panic bar will result in automatic application of the emergency brakes (immediately following the deenergization of the tram motors). The following panic bar design requirements are a restatement of the proposed requirements defined in the Federal Register, requirements cited in "Guidelines for the Design and Installation of Devices for Deenergization of Self-Propelled Electric Face Equipment/Automatic Emergency Brakes" by C. E. Lester and J. D. Greenhalgh of MESA, and Bendix recommendations that were formulated as a result of discussions with personnel al the various machine manufacturers and underground coal mines that we surveyed, discussions with G. L. Judy (our consultant), etc:

Jan 1, 1974

By O. C. Blade

Total sales of diesel fuel in the United States continue to Increase. This growth is due primarily to two causes: More conversion to diesel units by the rail-roads In recent years, and the greater use of diesel engines in trucks, busses, and tractors. Following are some figures on the distribution of the fuel computed from data issued by the Bureau of Mines.2/ [ ] Deliveries of diesel type fuel from refineries totaled 91,522,000 barrels during the first six months of 1955,3/ corresponding figure for 1954 was 91,170,000 barrels. Information on the properties of this engine fuel is very important to the petroleum industry, engine manufacturers, and consumers. To supply such information the American Petroleum Institute and the Bureau of Mines, United States Department of the Interior, under cooperative agreement, are conducting annual surveys of diesel fuel oil produced in refineries in this country.

Jan 1, 1955

By Matthew A. Perras

With growing populations, infrastructure projects are utilizing underground space to expand transportation networks, water supply and sewer disposal systems and hydropower facilities. These new projects require large diameter tunnels to meet the growing demands. As the tunnel diameter increases, not all rock mass properties are scalable and precedent experience becomes less reliable. One such non-scaleable property is lamination thickness. Numerical modelling was conducted to determine the influence of lamination thicknesses on a 16 m diameter tunnel. Five different areas of excavation response were found to exist for laminations ranging between 0.16 to 16 metres in thickness. For this tunnel diameter, critical lamination thicknesses of 6 metre and 1 metre were found to exist. Above 6 metres the excavation response was similar to isotropic models. Below 6 metres the stresses and yield are channeled by the lamination boundaries, increasing plastic deformation. Below 1m multiple lamination units become unstable and the displacements increase significantly and the shape and extent of the yield zone size changes dramatically. The yield zone is controlled by bed deflections and bed parallel shear. As the lamination thickness decreases tensile failure first begins in the haunch area and progressively extends above the crown until a self-limiting plastic yield zone shape is reach at lamination thicknesses below 0.4 metres. Conclusions drawn from observations at the Niagara Tunnel Project are those of the authors.

May 1, 2009

This publication summarizes, for all interested parties, the research, development, and demonstration in-house projects programed by the Bureau of Mines for fiscal year 1979 (October 1, 1978--September 30, 1979) under its Nine Health and Safety Research program. The objective of these projects is to provide an ordered and sequenced series of advances toward the Bureau's overall goal of providing the system technology required to create a healthier and safer working environment for the Nation's miners.

Jan 1, 1979

By AIME AIME

THE week, of April 5 will long be remembered by those that attended the Birmingham meetings of the Open-Hearth and Blast Furnace committees of the A.I.M.E. Iron and Steel Division. Birmingham iron and steel own received the 450 delegates with open arms; described and discussed their southern metallurgical practices and problems and compared experiences with their northern brother metallurgists in two days of technical sessions on Wednes-

Jan 1, 1937

By Steven Hoerger

Newmont Mining has a large, integrated gold-mining operation in northern Nevada with several mines, stockpiles and processing facilities. There are more than 90 defined metallurgical ore types and more than 60 defined gold-recovery process options. Newmont developed a mine plan and process model to take better advantage of the available synergies at its Nevada mines. This plan includes a mixed integer and linear programming optimization tool. This system is maintained and operated by a Nevada planning group. Standard in-house planning software tools and methods have been implemented at all mine sites. These changes have allowed a reduction in mine engineering staff and have increased the effectiveness of mine planning.

Jan 1, 1999

By R. S. Warfield

Several reconnaissance-type surface and drill core samples of Arctic Northwestern Alaska coals were taken during the summer field seasons of 1964 and 1966 for coking studies. Surface samples were taken from the Kokolik River and the Cape Beaufort areas; core samples were obtained from the Kukpowruk River and the Cape Beaufort areas. Only one Kokolik River surface sample possessed coking properties. This sample, representing an 11.6-ft coal seam, made coke approaching metallurgical quality when a 30-pct portion of selected blending coals was added. Four Kukpowruk River core samples, each representing the same 19-to 20-ft coal seam, were all of about the same coking quality. No differences of coke quality attributable to depth of permanently frozen overburden were found, but the data confirm previously reported information that the 19- to 20-ft coal bed is a potentially satisfactory base coking coal. In the Cape Beaufort area, a core sample with appreciable coking properties was taken at depth from a coalbed determined noncoking in a surface sample.

Jan 1, 1969

By J. Wills

The use of drilling rigs to increasingly mechanize stope drilling has been acknowledged as important for the S.A. mining industry in it ís efforts to tackle the challenges of low productivity, AIDS and an ageing driller workforce. The spin-offs of increased safety, cost-effectiveness and better mining performance provide advantages to all?from the driller to the shareholder. However, implementation or product rollout has varied from outright success to dismal failure. A study of various cases by Novatek and Anglogold TDS showed clear reasons for these differences. Whereas the successes were characterized by clear objectives, accountability, user buy-in, a commitment to make the technology work and no-nonsense reporting, these were typically absent in failed implementations. The attitude at unsuccessful mines was to ?trial? the equipment?even subconsciously, a ?trial? is a test where failure becomes an acceptable outcome. During the study it became clear that mining management are not adequately trained to manage the often-tricky rollout process. They are often also not empowered or clearly mandated to deal with the organizational, human and technical issues that must dovetail to create a success. The output of the study was to develop a basic rollout process that could be used to formally manage the implementation of new drilling technology. Creating an alignment between the mine, workforce and supplier promotes a win-win situation that will not otherwise spontaneously arise.

Jan 1, 2002

A typical sub-level block cave mining extraction method employs an undercut level to establish a cavity in hard rock, and as such requires special support methods and products to be installed during the development phase. The undercut level development in the block cave orebody is then sacrificial, and support elements will eventually report to the crusher and perhaps conveyor belt systems for transportation to surface. The choice of support products installed in the undercut level development should take cognizance of the detrimental effect these could have on the mining system such as cutting of conveyor belts, obstructing crushers, safety aspects, and productivity. This work explores the probability and practicality of making use of new-generation support products to make the operation safer as well as enhance productivity in the development phase and during the undercut operation. This paper will investigate the use of glass reinforced plastic(GRP) rockbolts and GRP mesh instead of conventional steel bolts and mesh along with resin capsule-filled holes with the GRP bolts. Complementing this with thin spray liner (TSL) application as another means of creating a safer operating environment, as well as a productive support medium, will also be addressed. These proposed items are envisaged to reduce production downtime and improve the safety of our people. These items are all easy and light to handle, cuttable and crusher friendly, as they will break up during the crushing process.

Jan 1, 2012

By K. E. Robinson

This study is the extension of an investigation of reclamation of floodplain areas in the Coeur d'Alene Mining District, Idaho, that are unuseable in their natural condition, by construction of landfills with mill tailings. The study develops a valley-wide tailings disposal plan to utilize 20 potential landfill sites on floodplain areas and presents measures for reclaiming the sites for subsequent productive use. Field and laboratory testing on a test section and two abandoned impoundments support the use of hydraulically deposited tailings for landfill construction. Hydrological testing has shown that controlled discharge from tailings impoundments results in contaminant levels in the discharge below regulated standards. Additional testing indicated that compacted soil liners and pond management provide adequate contaminant abatement where acid-generating tailings are encountered. Mechanical compaction, including surcharge loading, upgrades foundation support capacity so that construction on the surface of tailings deposits is feasible. On completion of the testing program, the test sections were abandoned and rehabilitated. Details concerning potential landfill sites have been refined. At recent production rates, the 20 sites would result in 680 acres of reclaimed land, while providing a minimum of 40 years of tailings storage capacity. A general design has been developed for the retention dikes. Aspects of embankment stability, including liquefaction are discussed, and are shown to provide an adequate factor of safety under the anticipated range of operating conditions.

Jan 1, 1983

By X Zhang, B McFadzean, P E. Ngoepe, B Nemutudi, P P. Mkhonto, S Pikinini

There is still a huge challenge in efficiently recovering the arsenides minerals that are largely concentrated in the Platreef Bushveld Complex which constitutes about 21 per cent of the platinum group minerals (PGMs). Therefore new collectors are required to improve the recovery separation of hard to float minerals, in particular sperrylite. The triazine modifications are promising reagents for mineral flotation and have not been given much attention in minerals processing. The adsorption of sodium 2,6-dithio-4-butylamino-1,3,5-triazine (SDTBAT), sodium 2,6- ditrithiocarbonate-4-butylamino-1,3,5-triazine (SDTTCBAT) and sodium normal butyl xanthate (SNBX) on sperrylite (100) surface were performed to identify a well performing collector molecule. We observed that the triazine collectors preferred to bridge on surface As and Pt atoms through the S atoms. We found that the adsorption energies were in the order: SDTTCBAT > SDTBAT > SNBX, indicating that the SDTTCBAT had strong exothermic adsorption on sperrylite and pyrite. These results showed that the ditrithiocarbamate had a great influence in the adsorption strength on the sperrylite surface. Importantly it was found that the triazine collector had stronger adsorption than the xanthate, which portrayed a promising replacement of xanthate collector. These results paved a way for design of novel collector for sperrylite and other chalcogenide minerals to improve their recovery.

Aug 24, 2022

By R. J. Sweigard, R. V. Ramani

G.F. Learning The paper by R.V. Ramani and R.J. Sweigard is a wonderful description of the labyrinthine web that has been spun about the mining industry by energetic bureaucrats and politicians over the past 50 years. The remedy for the problem, however, is not more of the same, but less. That may be difficult for the industry to achieve, for it is not a technical solution but a political one. And the current fervor for more detailed planning at all levels of government and private enterprise has become deeply ingrained. The authors recommend the provision of more information about mining and mineral resources to "macro" (i.e., government) land use planners. They apparently overlook, however, the already strong tendency on the part of most government land use planners to consider themselves omniscient. Thus, giving them more information about the technical problems of mining will only make them want to get more and more involved in the "micro" (private, site specific) mine development and production plans of the individual mining firm. In fact, this has already happened at all levels of jurisdiction from municipal to federal government. Examples are legion. The most effective way to ameliorate the adverse impacts of government land use planning on existing and potential mining operations is to: (1) introduce greater flexibility in the definition of land use zones by local and state governments; (2) adopt realistic and relevant ambient environmental performance standards in governing relationships between mineral land uses and concurrent or subsequent nonmining land uses; (3) allow greater leeway for economic considerations in land use decisions in contrast to the explicit legalistic approach now in vogue; (4) recognize that all minerals are not the same and that sand and gravel mining should not be treated the same as underground metal mining, coal stripping, oil field production, or in situ leaching; and (5) eliminate the notion that mining operators should be responsible for determining in detail the use of land by subsequent owners of mined land. This last bit of conventional ethic really makes no more sense than requiring the builders of every shopping center or government office complex to provide detailed plans for the use of that land when its use for shopping or government is ended. Did the builder of Ebbetts Field plan for Brooklyn after the Dodgers went to Los Angeles? Should the developer of the Bingham Pit plan for suburban Salt Lake City after the copper mining goes to Chile? The nation's mining industry must address these questions before further bankrupting itself to provide more data to planners and spending thousands of dollars per acre to create land that when reclaimed is worth only a few hundred dollars per acre. Reply by R.V. Ramani and R.J. Sweigard We thank Mr. Leaming for his valuable contribution. His views on the problems of land use planning and mineral resources are most welcome additions to our paper. As the title indicates, our paper was more concerned with the impacts of land use planning on mineral resource conservation than with the details of the planning process. On the whole, his five recommendations would be helpful for mineral resource conservation. However, we would suggest that the argument he presents for his final recommendation does not address the differences between mining as a land use and commercial or institutional uses. We believe that this difference is the crux of the issue. We share Mr. Leaming's desire to ameliorate the adverse impacts of land use planning. Possibly the most detrimental impact is the loss of mineral resources. Any development, whether mineral or community, that does not give proper consideration to other resources can result in permanent loss or sterilization of resources. With proper planning, some of these losses can be avoided. As our paper indicated, one factor that limits the consideration of mineral resources, and ultimately leads to their sterilization, is the generally inadequate levels of resource characterization and understanding of the unique nature of mineral resources and mining operations. The last point raised by Mr. Leaming is also important. In terms of reclamation and land use planning in mining districts, we certainly do not advocate spending more than what the results are worth. The main thrust of the paper was to explore the avenues for conserving the mineral resources so that, at some appropriate time, the issue of mining and reclamation can still be addressed.

Jan 4, 1985

By N. M. Safaya

Moderate to acute deficiency of plant available phosphorus is very common in western coal mine spoils and topsoils. Although some of the spoils are known to contain seemingly adequate amounts of total phosphorus, the plant available phosphorus is so low that it constitutes a serious plant growth limiting factor in the mined lands. For the revegetation of these spoils, the use of species, varieties and ecotypes exhibiting greater efficiency for P uptake and utilization, or conversely, lesser susceptibility to P deficiency would be highly desirable. To identify such plants, quick and adequate methods of screening germplasm should he available. In the present growth chamber study several plant species were screened using continuous flow culture and spoil culture systems to provide information on their relative susceptibility. In flow cultures, P was maintained at 0.25, 2.5, and 25 moles; while in spoil cultures it was applied at 0, 25, and 75µg/g to a P-deficient spoil. Phosphorus deficiency symptoms appeared in alfalfa cultivars, birdsfoot trefoil, emerald crownvetch and yellow sweetclover within 7-10 days upon transfer of their seedlings to U.25 or 2.5 µM P solutions. Burning bush and Russian thistle, found abundantly as pioneering species on mine spoils, showed no deficiency symptoms; their shoot dry matter yield in the 0.25µM P treatment was 24% and 36%, respectively of their maximum yield obtained with 25 µM P. However, the percent increase in the dry matter yield of legumes with 0.25 µM P ranged from 7-13% over their maximum yield. With the increase in solution P concentration, the root dry weight ratio in the legumes increased from an average of 0.22 to 0.43, while in the weeds from 0.14 to 0.30. The low susceptibility of Russian thistle to P deficiency was also demonstrated in the spoil culture experiment. Legumes showed greater response to P-fertilization on the spoil than did the two weeds. With increasing concentrations of P in the solution, the root weight ratio of all the species decreased. At 25 µM P, weeds invested only 14% of their total dry matter yield in the root fraction, where as legumes and grasses invested as much as 24% and 33% respectively. Weedy species averaged higher P concentrations than the legumes and grasses. The mean P concentrations of alfalfa cultivars were the lowest among legumes. In general, P concentrations increased with the increase in P supply. In the flow culture system, P supply increased the Ca levels of legumes. The mean Mn concentrations were highest in the weedy species. The increases in P supply decreased Zn levels in all of the species. File effects of P fertilization on the tissue concentrations of Mn and Zn in spoil culture were similar to that of flow culture system. From this preliminary study, it may be concluded that the continuous flow culture system is efficient in rapid screening of a large number of species under controlled conditions for their efficiency in adapting to mineral stresses.

Jan 1, 1982

By Oliver Bowles

[Simple systematic accounting that adequately records all transactions has long been regarded as essential to the welfare of any business enterprise. Some of the defects that detract from the prosperity of the slate industry are attributable to a lack of effectiveness in cost keeping. This condition has promoted the United States Bureau of Mines to make a detailed study of accounting methods for the slate industry, and to present for consideration a system of accounts, which it is believe would enable the industry to attain more economical management and operation if accepted by a fair proportion of its important units. The method of accounting presented herein has been worked out with the assistance of leading slate producers and the recommendations are tentative and are submitted in this form as a means of developing constructive criticism. Believing that cooperative effort in this, as in many ether problems will bring the most enduring benefits to the industry as a whole, the writer urges that the cost earnest consideration be given to this vital problem now facing the slate industry.]

Jan 1, 1929

By Arthur Notman

Since addressing the Institute a year ago on The Future of the Copper Industry (l), many things have happened, most of them bad. It has been a hard year for profits and prophets. It was, therefore, with consider-able perturbation that I accepted the gracious invitation of your Committee to reappear. On reviewing my remarks of a year ago, I. have wondered whether, under pressure of more important matters, the Committee had neglected to make a note of them, or whether they felt that further explanations from me were in order. In either event, I am glad that I am here and welcome the opportunity to make any contribution I can to a clearer understanding of the problems of copper to those concerned. The English-speaking nations own 80 per cent of the present world-production of the metal. Col. P. E. Barbour, Secretary of the Mining and Metallurgical Society of America, and I recently completed an estimate of the known world resources of copper. We placed the figure, in round numbers, at 100,000,000 tons of metal. Of this amount, about one-third lies in the United States, one-third in the British Empire, and one-third in South America; and all but 4 per cent of this is owned by British Empire and United States capital. Our figures do not include any estimates for Russia, Japan, or Europe, on which there are no available data. It is true, consequently, that the British Empire and the United States are the ones concerned. It seems to me to be a matter of great importance to the world at large, and of even greater importance to those nations themselves, that the known sources of supply of this metal, so essential both in peace and war, rest so strongly in their hands. I cannot believe that in the long run they will neglect their responsibilities in the wise administration of these resources.

Jan 1, 1932