Search Documents

By Michael Leslie Connor

The paper point out the services of the london metal exchanged on the mining.The investigation is divided at two parts: the tradings sessions and dealing and delivery dates. As well as, the london metal exchanged serves the world metal trade at large in three ways: a daily market price, a physical market and the insurance against market fluctuations.

Nov 20, 1969

By Charles Camsell

At the Annual General Meeting of the Institute in 1924. I endeavoured to present the position held by the mineral industries in the commercial life of this country. The facts and figures were presented at that time in a detached way. Since then, however, I have made some attempt to analyze them in order to determine the causes for that position and to draw some conclusions as to the future of the mining industry. As everyone knows, our trade figures are very often used in political discussion, especially in discussion of tariff policy. It would be entirely out of order for me to say anything touching the tariff issue and I want to have it clearly understood that, in my opinion, the material I am about to present contains not a single statement or conclusion which anyone would be warranted in using as an argument for either a lower or a higher tariff or for tariff changes of any kind. As a starting point, let me re-state, very sketchily, Canada's general situation in external trade. In the last calendar year, 1924, we sold Canadian merchandise of all kinds to other countries to the value of $1,045,000,000 in round figures. Our purchases abroad reached about $893,000,000. Thus our sales exceeded our purchases by roughly $152,000,000. In other words, we had what is known as a 'favourable balance of trade' - one of the biggest favourable balances we have ever had in our history. The proceeds of our sales of Canadian products enabled us to meet the bills for all our purchases of foreign commodities and, in addition, placed a large surplus to our credit with which to offset our interest charges and other obligations abroad.

Jan 1, 1925

By Oliver Bowles

The National Granite Commission at its annual meeting in Norfolk, Va., in January, 1930, passed a resolution requesting the Bureau of Mines to conduct an economic study of the granite industry. In compliance with this request a preliminary review has been made of trends, in, the production and uses of block granite. Some unfavorable conditions, were, thus brought to light and certain suggestions regarding a. more orderly and consistent growth in the industry are herein discussed. The results of the study axe, presented in this report for the earnest consideration of the industry and comments are invited, not only on this report but as to future work that might be accomplished by the Bureau of Mines. The authors desire to acknowledge many helpful suggestions and comments from Paul M. Tyler of the Bureau of twines and from Harris F. Sherman, secretary of the National Building Granite Quarries Association. Miss A. T. Coons of the Bureau of Mines rendered valuable, assistance through her wide knowledge of granite statistics.

Jan 1, 1931

By F. E. Harris

The United States produces about 30 percent of the world output of salt. Numerous deposits occur in widely separated areas, but the leading producing States are California, Kansas, Louisiana, Michigan, New York, Ohio, Texas, Utah, and West Virginia. Although no great amount of salt is produced at present in Pennsylvania, the potential sources in that State recently aroused a good deal of interest. The United States salt industry is highly organized; it comprises fewer companies than when small crude works with primitive methods and equipment eked out salt for local needs, but concentration of output brought about by modern inventions and methods of production has improved the quality of the produce greatly and accelerated production.

Jan 1, 1939

By J. Y. ` Xie

The paper introduced bio-oxidation plants of refractory gold concentrate in China and CCGRI cultures. CCGRI cultures are composed of bacteria and archaea. Archaea Ferroplasma acidiphilum is very thick and fills whole mineral surface. It plays a more dominant role in CCGRI process. Several years of practice has proved that the operating temperature in bioreactors between 38~52?,gold recovery is almost same. Pulp concentration has been increased each year and reached to 25%.

Jan 1, 2014

By Oliver Bowles

The various Latin American countries are undergoing a slow process of industrialization. The harvesting of one or two agricultural commodities or the mining of a few marketable minerals is being supplemented by development of an Integrated industrial economy. In many countries, progress in this direction has not been rapid, but as it gains impetus an increasing market for cement is a natural consequence. This is evident from the fact that industrialization is linked with increasing transportation, and means of transportation are very poor in much of Latin America. Bridges, culverts, and concrete Highway's, now scattered sparingly throughout the vast land areas south of the United States, must multiply as the demands of industry increase and as a higher scale of living is attained. Eventually the South American countries will be linked by modern highways. Furthermore, the arid climate of many regions creates a demand for construction of dams and irrigation works, and a continent poor in coal reserves but with abundant water power inevitably must direct its energies toward the construction of hydroelectric power plants. Countries rich in raw materials but with few natural harbors have urgent need of massive concrete breakwaters and docks. The demand for concrete in houses will also grow. Standards of living are low, and perishable building materials are widely used. As living conditions improve cement will be used increasingly in home construction. Even in the field of simple and modest housing cement affords a means of creating low-priced verminproof and fireproof homes, for which the need it imperative under climatic conditions that prevail in this area of the world. Already many of the countries have undertaken extensive public works, and such programs are likely to increase. Assuming moderate industrial progress and stabilized governments the demand for cement in this great southern area promises substantial growth.

Jan 1, 1940

By Richard J. Stoehr

Man has mined in all his time on earth about 3 billion ounces of gold. About one-half of this has been mined in the past 35 years. This gold is roughly in 3 large holdings: one-third held as reserves in Central Banks; one-third held as personal reserves; and one-third is in jewelry or other fabricated products. The world per capita availability of mined gold is increasing and there are many factors and forces shaping gold's future. Currently, gold has a favorable exchange ratio and this is encouraging many new gold-mining developments. Production is increasing and new techniques are surfacing. The use of gold in the financial markets is increasing in some unique ways and gold is again fulfilling its role as a universal money, making gold's future predictable. Currently, man is mining gold at the rate of approximately 44 million ounces annually and is therefore adding to the total supply of gold approximately 1.5% of newly mined gold each year. This current production plays a small role in the pricing mechanisms since a very large part of the 3 billion ounces mined in all of history is available to the market in one form or another.

Jan 1, 1984

By A Chandra, P Guj

Only a few complex real options can be valued using closed-form equations, such as the Black and Scholes formula, because these algorithms are restrictive and prevent the construction of practical project evaluation models. Although a binomial lattice method paired with the ærisk-neutral probabilityÆ provides an easier and flexible modelling of exploration and mining projects, it has limitations when projects are complex, long-lived and influenced by the interplay of various market and private uncertainties. In order to overcome these limitations, modern decision tree software using dynamic programming capability can be used for real option valuations. This is a powerful computational tool in which the impact of various sources of uncertainties can be differentiated, so that the optimal decision path can be explicitly displayed visually. There has been significant academic controversy surrounding whether different real option (RO) valuation methods would lead to different real option values (ROV). This paper, using a realistic copper mining example, demonstrates that as long as the same degree of subjectivity and consistency are used in different real option valuation methods, they yield the same result. This conclusion is valid irrespective of whether the cash flow volatility generated by various sources of uncertainties is handled in an aggregated or in an explicit and differentiated manner. This paper compares two choices for an investor either to æbuy now and developÆ a project or to enter into a ætwo-year option to purchaseÆ after the proponents have developed it. It also shows how significantly different net after-tax operating cash flows may be generated by these different choices on the same underlying asset represented by the project. This is due to the difference in the amount and timing of the relevant capital investments affecting the depreciation and amortisation charges and as a consequence, the income tax paid. CITATION:Guj, P and Chandra, A, 2012. Real option valuation of mineral exploration/mining projects using decision trees - Differentiating market risk from private risk, in Proceedings Project Evaluation 2012 , pp 177-188 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By Joseph P. Nugent

The new combination gypsum plaster and gypsum wallboard plant of Compania Industrial Kaiser S.A., the first of its kind in Mexico went into production in April of 1969. This was approximately fourteen months from the signing of the formal order for the plant and equipment. Compania Industrial Kaiser S.A. is an affiliate of the Kaiser Gypsum Company in the United States and will market practically the same line of products and to the same standards as those produced in American plants. Located in the City of Puebla, the plant will readily service the major Mexican sales areas. It is approximately 85 miles away from Mexico City on a modern, four-lane, divided highway and distribution to other major consumer areas can be readily effected by the use of a good highway system, as well as, by rail. This, plant is the, sixteenth Gypsum Wallboard Mill supplied abroad by my company, United States Wallboard Machinery Company. Other installations are in Australia, New Zealand, Chile, England, Scotland, Ireland, Finland, South Africa, Latvia and Germany. Two new mills are on order; a small unit for Brazil and a comparatively large unit for New Zealand. All these mills have one thing in common with plants in the United States and Canada; they are equipped with standard, time-proven and tested equipment and they are designed in accor¬dance with the latest engineering thinking in order to produce efficiently, the highest quality product at lowest cost. They differ generally in the size of plant, the factors that brought them into being and in the market that they supply. I believe that these differences will be of interest to you.

Jan 1, 1969

By JOHN JANNEY

STABILIZATION of the adjustment of normal consumption to normal production of world commodities is quite different from reducing production until visible surpluses are consumed. The first means restoration and maintenance of prosperity, the second means merely a temporary alleviation of a condition with the prime cause remaining uncorrected. Overproduction of foodstuffs in some sections of the world while millions starve in other sections represents not so much overproduction of foodstuffs as mal-distribution of foodstuffs. The flour mills of Washington and Oregon normally ship quantities of flour to China. Now, the wheat that would make this flour goes East instead of West. Is this overproduction, or is there something wrong that calls for study, analysis and correction? Can the plan used by the ostrich of hiding its head in. the sand get us by this present world tragedy, or must the challenge to solve this problem be met, constructively? Can we not make out of this breakdown in the world's economic system an opportunity? And use it as the stimulus for remedying the basic cause of the trouble and not content ourselves with devising temporary expedients that aim at remedying this or that of the obvious conditions, in themselves not causes at all but rather the evidence of causes, or that are the symptoms of the real trouble.

Jan 1, 1931

By D. J. Parker

On Thursday, March 18, 1937, the country was shocked by news of a terrific explosion at the New London, Tex., school, which caused the death of 280 pupils avid 14 teachers. The explosion occurred at about 3:05 p.m. in the largest of the 11 school buildings on the campus. Fire 1 shows this building, marked "Main high school building", with respect to other buildings, pipe lines, oil wells, and gas lines or the property.

Jan 1, 1937

During the period 1979 thru 1982, Multi Mineral Corporation conducted a mining research program at the United States Department of the Interior's Bureau of Mines Oil Shale Mining Environmental Research Facility in the Central Piceance Creek Basin, Rio Blanco County, Colorado. The program consisted of mining, environmental and geotechnical research data and the results are described in this report.

Jan 1, 1983

By J. F. Barkley

Smoke abatement is a subject of which fuel technology, although absolutely essential, is only a part. Its successful accomplishment starts and ends with human factors that must be given thorough consideration; between this "start" and "end" fuel technology is applied. Smoke abatement usually starts from the desire of some person or persons to be free from uncleanness caused by the stack of someone else and ends with the sincere desire of the operator of the fuel-burning equipment to maintain a clear stack. Although "smoke abatement been discussed for many years, it is only recently that the public has been mindful of such expressions as "air pollution" and "air hygiene." The subject has duel in common with that of supplying pure water but is more complicated. The public desires pure water, expects pure water, is willing to pay for pure water, and expects to continue to pay for it indefinitely; it is a development of civilization. It is doubtless correct to say, however, that people in general do not et realize the detriment of air pollution to their well-being or give the question enough serious consideration. This is illustrated by the fact that in city smoke abatement it is the mass of small householders that sins the most and is the hardest to handle. It is rather difficult to assemble a group of people in a room without the air becoming contaminated with smoke. Smoke abatement will lag with the lack of desire for pure air - probably the biggest human factor involved in its accomplishment.

Jan 1, 1939

By Q. H. Bui

The elastoplastic self-consistent model is one of the effective models to study the initial microstructure effect on the mechanical behavior of bulk materials. However, the use of this micromechanics-based model which takes into account only the Hall-Petch relationship at grain level for predicting the grain sized effects on the strength of the deformed materials is not accurate yet because of the fact that the dislocation density contributes also to the strengthening of this kind of materials. In this study, a modification made to the Hill-Hutchinson elastoplastic self-consistent model was proposed for investigating the microstructure dependence of the mechanical behavior of cold-drawn 6063 aluminium tubes. Because of the novel modification, an estimation procedure with two steps was required to identify the parameters of this micromechanical model. An acceptable agreement between experimental and theoretical stress-strain curves was achieved.

Jan 1, 2011

By Dale C. H. Nevison

One of the most intensive of material rivalries is the confrontation between zinc die castings and plastic injection moldings. Pressed hard by the plastics industry, zinc die casters are learning how to make parts with less material yet without sacrificing quality. The key to this new trend is the technique of Thin Wall die casting. The obvious benefits of Thin Wall are lighter weight and lower cost. Again, obviously, these are the very selling points that put plastics into many appliance and automotive parts formerly made of zinc. One of the factors that has been most conducive to the outstanding growth of plastics has been the increasingly prevalent concept that "adequate" properties are sufficient, especially if there are cost advantages. Most of modern design today is oriented around the reasonable life of a product, rather than indefinitely extended life. This is simply an acknowledgment of the existence of a design environment that pervades many areas, reflecting the life-cyclic desire for change. Too often, so-called "weight-saving" materials end up being very costly - not only in production, but in durability and dependability. Change for the sake of change usually doesn't effect a change for the better. In the majority of cases, the best bet is to design in traditional materials and minimize the material needed, while maximizing the efficiency of the production process. Component prices of products to be produced from either plastics or zinc must be studied in detail to determine which material will produce the lowest cost of manufacture. It is not uncommon for two parts, similar in appearance at a casual look, to have a considerable difference in energy requirements and production costs. Detailed cost estimates of the advantages of each material should therefore be prepared for zinc and plastic parts before the final design and material selection decisions are made.

Jan 1, 1978

By W. P. Yant

This report describes result of a study of the carbon monoxide and particulate matter in the air of the Holland, Tunnel and metropolitan New York made by the Bureau of Mines (which had participated in the development

Jan 1, 1941

By Robert C. Johnson

Domestic byproduct fluorine (in fluosilicic acid) availability at various price levels of aluminum fluoride were determined and a contingency availability curve developed. The supply of byproduct fluosilicic acid is restricted in amount to certain geographic regions, where plants processing phosphate rock are located, and the byproduct can be collected. The maximum possible U.S. annual supply, based on potential plant capacities, is 373,400 tons of fluosilicic acid containing 295,400 tons of fluorine. Based on inputs of 5, la, 25, 50, and 100 thousand tons per year, five levels of producing aluminum fluoride from fluosilicic acid (100 percent) were costed. Based on a 12-percent discounted cash flow rate, including the cost of salvaging the fluosilicic acid, the calculated selling price of aluminum fluoride ranged from $233 per ton to $448 per ton. At the higher price, 98 percent of the potential supply of byproduct fluosilicic acid could be used profitably; at the lower price only 46 percent could be used profitably.

Jan 1, 1973

By Jan Zwarcendyk

This study is primarily directed toward providing an understanding of the economic complexities associated with subsidence damage on the surface resulting from underground mining. Some of the pertinent theories on the physical stresses involved are reviewed, and both remedial measures and relevant laws in various countries are discussed. Part I (Chapters 1-3) is an historical overview of various aspects of subsidence problems (theoretical, remedial, and legal) during pre-World War I, between World Wars, and post-World War II, respectively. Part II (Chapters 4-9) presents a comprehensive analysis of the economic aspects of subsidence in relation to the following mining alternatives: (a) carrying out the lowest cost mining method without regard for any surface subsidence, (b) special mining techniques, (c) partial mining, (d) full recovery with stowing, and (e) sterilization or leaving the mineral unmined beneath selected areas. These alternatives are evaluated in terms of their measurable expenses.

Jan 1, 1971

Data recently released indicate substantial improvement in mineral industry performance for 1984. Business plans to increase plant and equipment spending in 1984 by 14.8 percent, according to a recent survey conducted by the Commerce Department's Bureau of Economic Analysis (table 1). In contrast, capital spending by all industries declined 4.8 percent in 1983 and 2.3 percent in 1982. The latest estimate of planned expenditures for 1984 is $2.2 billion higher than the comparable estimate based on the survey conducted in late January and February 1984.1/ [ ] Of particular significance to the U.S. mineral industries are the 15.5-percent increase in capital spending planned by manufacturing in 1984 and the planned 18.6-percent increase in spending by durable goods manufacturing, where the largest increases are planned in the transportation equipment (26.4 percent) and electrical machinery sectors (23.5 percent). Capital expenditures in manufacturing declined in both 1982 and 1983.

Jan 1, 1984

By R. Addison

This is the story of the Carlton Mill. But first-a little geography. For those who do not know where the Carlton Mill is, or, perhaps, have only a vague idea, its location is indicated in Figure 1. The plant is situated on the road between the two old mining towns of Cripple Creek and Victor, 10 the west of Colorado Springs. From Denver, it's about 110 miles by road. The story of the Carlton Mill began with the discovery of gold at Cripple Creek in 1890. This discovery set off a major boom such that, by the turn of the century, there were 450 separate operating mines in the district. Gold production boomed early and declined rather rapidly as indicated by the graph in Figure 2. Significant factors affecting production are shown on the graph-the raising of the gold price in 1934 from $20.67 to $35.00 per ounce and the government executive order L-208 in 1942 requiring the closure of all gold mines.

Jan 1, 1983