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By Elizabeth Wademan

Recessions Eventually End ??Companies aggressively cutting production and inventories ??these will come in-line with demand ??U.S. home inventories are declining ??Housing becoming more affordable ??Global trade recovering after collapsing ??Lower oil prices should act as a stimulus Protracted Deleveraging Process Beginning ??Era of leverage-driven consumption is over ??Greatest destruction of consumer wealth since WWII ??Consumers will no longer be able to substitute capital gains for savings ??Shift towards savings will be a headwind to economic growth ???Paradox of Thrift?

May 1, 2009

By Willie van Niekerk

As mining projects get larger and more complex there is a need to examine the use of project management techniques developed for large construction projects in order to ensure completion of the project on time and budget. In recent years the construction/civil industry has sought new methods to ensure that multimillion dollar projects involving multiple contractors, working in an increasingly legislated work environment, are delivered to the clients satisfaction. The paper describes these methods, which range from program management to systems and tools to gather all project information such as schedule and cost, and relates how these can be applied to large international mining projects. The paper also describes the benefits that an independent project manager can bring to a client or owner?s team by setting up the relevant organization and controls together with the appropriate contract and procurement strategy.

May 1, 2009

"These standards were developed by the CIM for use with the value or worth of a Mineral Property as opposed to “evaluation” where the key objective is an economic assessment or determination of the economic merit of a propertyP1 .0 BACKGROUNDPl.1 There are at present no comprehensive standards for valuation of Mineral Properties in the Canadian mining industry. The Mining Standards Task Force (MSTF) of the Toronto Stock Exchange and the Ontario Securities Commission in its Final Report (January 1999) specifically recommended that the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) form a committee of valuation practitioners to review and advise on approaches to valuation of Mineral Properties.Pl.2 On May 5, 1999 at the Calgary Annual General Meeting, CIM Council approved the formation of a Special Committee on Valuation of Mineral Properties (CIMV al) to be co-chaired by Keith Spence (Chairman of the CIM Mineral Economics Society) and Dr. William Roscoe (Roscoe Postle Associates Inc.).Pl.3 The mandate of CIMVal is to recommend Standards and Guidelines for Valuation of Mineral Properties to be used by the mining industry in general and to be adopted by Canadian securities regulators and Canadian stock exchanges.Pl.4 The members of CIMVal represent of a mix of professional disciplines and experience in the field of Mineral Property valuation:Keith N. Spence (Co-chair), Alliance Pacific Resources Inc., TorontoWilliam E. Roscoe (Co-chair), Roscoe Postle Associates Inc., TorontoMichael J. Bourassa (Secretary), Aird & Berlis LLP, TorontoChristopher R. Lattanzi, Micon International Limited, TorontoRoss D. Lawrence, Watts, Griffis and McOuat Limited, TorontoPaul E. Lunney, Noranda Inc., TorontoCraig A. Roberts, Pacific International Securities, VancouverDavid A. Scott, CIBC World Markets, TorontoIan S. Thompson, Derry, Michener, Booth & Wahl Consultants Ltd., VancouverWilloughby A. Trythall, retired Placer Dome executive and consultant, Vancouver"

Jan 1, 2003

The 2003 SME Annual Meeting and Exhibit will take place Feb. 24-26 in Cincinnati, OH. The meeting will feature a host of special symposia and programming geared toward the industrial minerals and aggregate industry sectors. This programming focus is particularly relevant for this annual meeting, as it will be hosted in the center of America’s transportation hub and industrial mineral center. Cincinnati, located on the Ohio River, is key to the movement of America’s supplies and construction material needs.

Jan 1, 2003

By N. W. Perry

Some months ago a gentleman gave me a handful of minerals which he had collected in an arroyo, or dry stream-bed, that ran through the town of Ramos, State of San Luis Potosi, Mexico, as a sample of the class of ore that might be expected in the mines of that section. I was, however, familiar with those mines and their ores, and cast the pebbles aside as of no interest. I afterwards returned to Mexico and took charge of two groups of mines, one in the State of Zacatecas, and the other in the town of Ramos, State of San Luis Potosi. While I was thus engaged, it was a very frequent occurrence for parties to bring me specimens of rock, ores, etc., for my opinion on them; and one day a man brought me a half-dozen or more small pieces of a very black shiny mineral, desiring to know what it was. I did not recognize it, and desired him to give me the specimens for analysis, which he promised to do in a day or two. He never did give them to me, for he lost them ; but he said there were plenty more where these came from—at Ramos—and he could get them at any time for me. I thought no more of the matter until after my return to this country, when, one day, in looking over some of my old " trash," I came across the specimens at first referred to as having been cast aside so carelessly. I noticed two distinct minerals among the pebbles : one being erubescite or tetrahedrite, the predominating mineral of the mines of Ramos, and the other a hard black shining mineral, the same that I had wished to analyze in Mexico. On testing for hardness I was surprised that it scratched topaz with some degree of ease, thus placing it above 8 in the scale of hardness. Trying it with a corundum, I sometimes succeeded in scratching it, but at other times it would scratch the corundum, and at still other times neither would produce the slightest effect on the other. Crystallized topaz would be ground to a powder in attempting to scratch the black mineral, without abrading it in the slightest. It must, therefore, be placed at 9 in the scale of hardness. It is of the deepest opaque black, not unlike pitch-blende in ap-

Jan 1, 1884

By Willard P. Ward

The numerous direct processes which have been patented and brought before the iron-masters of the world, differ materially from that now introduced by Mr. Wilson. After a careful examination of his process, I am convinced that Mr. Wilson has succeeded in producing good blooms from iron-ore, and I think that I am able to point out theoretically the chief reasons of the success of his method. Without going deeply into the history of the metal, I may mention the well-known fact, that wrought-iron was extensively used in almost all quarters of the globe, before pig or cast-iron was ever produced. Without entering into the details of the processes by which this wrought-iron was made, it suffices for my present purpose to say that they were crude, wasteful, and expensive, so that they can IE employed to-day only in a very few localities favored with good and cheap ore, fuel, and labor. The constructiou of larger furnaces and the employment of higher temperatures led to the production of a highly carbonized, fusible metal, without any special design on the part of the manufacturers in producing it. This pig-iron, however, could be used only for a few purposes for which metallie iron was needed; but it was produced cheaply and with little loss of metal, and the attempt to decarbonize this product and bring it into a state in which it could be hammered and welded was soon successfully made. This process of decarbonizatioa, or some modification of it, has successfully held the field against all, so-called, direct processes up to the present time. Why ? Because the old-fashioned bloomeries and Catalan forges could produce blooms only at a high cost, and because the new processes introduced failed to turn out good blooms. Those produced were invariably "red-short," that is, they contained unreduced oxide of iron, which prevented the contact of the metallic particles, and rendered the welding together of these particles to form a solid bloom impossible. The process of puddling cast-iron, and transforming it by decarhonization into wrought-iron has, as everybody knows, been in successful practical operation for many years, and the direct process referred to so closely resembles this, that a short description of the theory of puddling is not out of place here.

Jan 1, 1884

By George W. Maynard

In the death of Sir William Siemens, the Institute loses its most distinguished honorary member, one who, without exaggeration, may be ranked among the greatest Men of the century. In justification of this claim, I quote in part the words of two other men eminent in the walks of science. Professor Huxley, addressing the Royal Society, spoke of Siemens as "a marked example of vast energy, large scientific acquirements, and intellectual power of a high order," and as one " who had no superior in fertility and ingenuity of invention, while hardly any living man so thoroughly combined an extensive knowledge of scientific principles with the power of applying then] in a commercially successful manner. The value of his numerous inventions must be measured, not merely by the extent to which they have increased the wealth and convenience of mankind, but by the favorable reaction on the progress of pure science which they, like all such inventions, have exerted, and will continually exert." Dr. Wedding, in his address before the Verein zur Befarderung des Gewerbefleisses in Preussm, speaks of Siemens as being "so fortunate as to combine German erudition with British activity in such a manner that both nations, Gertnan as well as English, were equally proud of him; and, now that his rich life is ended, regret is expressed on both shores of the North Sea, first by the Germans that his entire life had not been spent in Germany, and his powers dedicated to Germany, and by the English that he was not born a Briton." Germany may well be proud of being the birth-place, not only of such a man, but of such a family; for where in history shall we find in a single family such a wide range of knowledge so successfully applied to the arts? The least distinguished name in the following list has added to the world's knowledge enough to satisfy the desire for fame of any ordinary man. This constellation is made up of:

Jan 1, 1884

By Persifor Frazer

The mines which I am about to describe are all situated in the northern part of the States of Nuevo Leon and Coahuila, Mexico, between the twenty-sixth and twenty-seventh degrees of latitude. They might be grouped, orographically, into four classes: 1. Those in the Sierra de la Ygnana chain; 2. Those in the Sierra de Gomez chain; 3. Those in the Cerro Mercado; 4. Those in the Sierra de San Marcos chain. (See large map.) The first two of these may be further arranged in one geographical district, to which the name, "the Villaldatna. district," may be applied, and the last may be ascribed to the geographical district of " Monclova." Geologically described, the country rock, in which four of the six mines occnr, is a limestone, concerning which a few words will be said further on, to wit.: The Arroyo (gulch), the Montanos and the Pinitos (pines), in the Villaldama district, and La Paloma (the dove), or Iron Mine, in the Monclova district. The San Rafael appears to lie in granite, or a heavy-bedded gneiss, presenting most of the characteristics of the latter, though the contact plane of the limestone is not far off. It is certainly worthy of attention that the ore occurs in that portion of the crystalline rock, which is nearest to the limestone, and it has been thought by some observers to be a true contact vein. It is well known that veins of this character are very often distinguished for constancy and richness. Although the undersigned cannot entirely free himself from the impression that this proximity of different formations has had an important influence in the origin of the part of the vein on which this mine is situated; still he was unable to establish it actually at the contact of the limestone and granite, but rather a short distance within the latter. Two openings of the Riojas vein were respectively in limestone and in rotten whitish granite, but this fact, if established (as by the correspondence of the strike line of the vein in direction with that of a line joining the

Jan 1, 1884

By George C. Stone

Since the Troy meeting I have received several additional results of analysis of the same sample of spiegel, which I give below: P. I know only by correspondence. His methods are : for results Nos. 47, 48 (13.03, 13.26) dissolve In hydrochloric acid, evaporate, oxidize with nitric arid, filter from silica, separate iron as basic acetate, precipitate manganese as sulphide, dissolve in hydrochloric acid; and precipitate as carbonate. No. 49 (13.72) was obtained by Eggertz's method. Nos. 50, 51 (13.10, 13.10) were dissolved and oxitfized as before, the iron precipitated by oxide of zinc, filtered and washed four times with cold water; and the manganese titered hot with permanganate. P. regards these two results as low. Nos. 52, 53 (13.75, 13.69) were dissolved and treated like the last two, the precipitated iron was again dissolved, separated, and titered as before; the results are the sum of the manganese joined in both

Jan 1, 1884

By S. Stutz

Three years ago, at the Philadelphia meeting, in February, 1881, the author had the pleasure of presenting to the Institute a paper on coal-washing machinery.* Since that time many new machines, with important improvements and labor-saving apparatus, have been introduced, the construction and description of which may be of interest to some of the members of the Institute. By referring to the above-mentioned paper, and more especially to Plate IV., representing a vertical section of a coal-washer, it will be noticed that the bottom of the plunger-box B is made level or horizontal, and supports a spring-buffer F for the purpose of limiting the down-stroke of the plunger P and receiving the impacts of the latter. Althongh the construction of the box, in view of these impacts, received from the start the proper attention (the bottom of the chamber 3 being made of three thicknesses of 3-inch planks, resting on 6-inch sqnare columns), yet, through careless working of the machinery, without the necessary water in the box, it proved in several instances not strong enough, and had to be changed. To prevent such interruptions in future, it became necessary to devise some means for relieving the machine from the impacts of the plunger altogether. This has been accomplished by the arrangement shown upon Plate I. of this paper, representing a new waesher; and not only has the difficulty been overcome, but also sorne other advantages have been obtained, as will be seen further on. The compartments +, A' of the separator-box have been set upon heavy cast-iron brackets B, leaving sufficient space below the bottom for the buffer F and the sediment-valve K. By means of the plunger-rod 6 passing through the stuffing-box s to the outside, and provided at its lower end with a shoe a, the impacts of the plunger are now transmitted from the buffer F directly to the foundation. At the same time a better guide for the plunger P in its up and down movement has been obtained. The plunger of the former machine had only the guide I and the yoke Y, whereas the new machine has an additional guide in the stuffing-box s, thus preventing wear and friction of the plunger against the lining of the box. Further-

Jan 1, 1884

By Arthur V. Abbott

TO rightly use materials, two kinds of knowledge are essential: first, the actual strength of the substance; and secondly, the forces to which, in the structure, it may be subjected. Nearly all of the data which we have at the present time have been obtained from the experiments made on the materials used in Europe, and by foreign investigators. The materials commonly used in this country, es-

Jan 1, 1884

By Edward Gridley

At the meeting of the Institute, held at Roanoke, Va., in June, 1883, I gave some facts in relation to charcoal pig iron of unusual strength, made from our carbonate ore taken from the mine at Amenia, N. Y. My object in again bringing the subject to the attention of the Institute, is to obtain, if possible, the solution of a prohlem in connection therewith. Our furnace is of the old type, stone stack 32 feet high by 9 feet 2 inches at top of bosh; bosh about 67O pitch; stone hearth; three tuyeres of 31/4-inch opening; fuel, a mixture of hard and soft coal; blast about & to # pound pressure, and heated to 400' to 600° Fahr. by iron pipe oven on top of stack. The analysis of the roasted carbonate ore, as before given to the Institute, is as follows:

Jan 1, 1884

By Frank Firmstone, Kenneth Robertson

Peculiar crusts having appeared on certain irons made at Glendon and Pequest, which, in our experience, were entirely new, some analyses of them were made; and these analyses, together with an account of the manner of appearance of the crusts, are herewith submitted to the Institute. At Pequest the ores mere: & Peters, from Ringwood, N. J.; + roasted sulphurous ore, from Charlotteburgh, N. J.; and + red ore (decomposed magnetite), from Chester, N. J. The fuel was 7/8 Lehigh anthracite and + Connellsville coke, and the limestone a dolomite from Andover, N. J. The resulting iron varied in silicon from 0 84 per cent. in No. 1 foundry to 0.51 per cent. in gray forge; in phosphorus, from 0.81 per cent. to 0.55 per cent.; sulphur, 0.035 per cent.; manganese, 0.375 per cent. It was highly "chilling" in its properties, and very strong. In running, it invariably appeared to be of a lower grade than it really was; the higher grades scintillating as much as hard iron usually does. After getting into the moulds, and beginning to cool, a black crust began to show itself, seeming to exude from the pigs, till finally, when the iron was cold enough to break, it completely covered the face of the pigs. At this time it was dense black, but after some exposure to the air it ac .

Jan 1, 1884

By W. B. Devereux

I have observed three deposits of iron ore in Pitkin County, which present unusnal characteristics, and wliich seem to throw some light upon the genesis of iron ores under certain conditions. They occur in the precipitons mountain ranges, forming spurs on the Pacific slope of the main continental backbone. The first is a body of limonite, lying upon the side of a high mountain, which forms part of the base of Hayden's Peak. This limonite forms a sheet of considerable area, and is thin at the edges, and about 3 feet in thickness in the central portions. It is conformable with the slope of the mountain side, and rests upou the eroded rocks, but is not comformable to them. The ore is laminated and shaly in texture, and has the physical characteristics of the hard limonites, such as are found in the Marquette District, Lake Superior. It is covered with loose earth and rocks, from 1 to 2 feet in thickness. Much of the ore is filled with impressions of' spruce leaves, such as are found in the forests now covering the slope of the mountain. In the rocks forming the mountain, iron pyrites occurs in bodies, and this limonite probably owes its origin to such a body not far distant. Not far up the mountain large masses of conglomerate are now forming, the cementing material being a similar hydrated oxide of iron. The iron is

Jan 1, 1884

By N. W. Lord

There hare been made at one or two places in Ohio, during the last year or two, some irons of rather unusual phosphorus-percentages. The first of these which I had occasion to examine came from Moxahala Furnace, in Perry county. The furnace was built originally to smelt an ore found in large deposits near its furnace in the " black band" horizon. The deposit was easily exposed by simple stripping;" it was from six to eight feet thick, being a blne carbonate ore, very free from silica. This ore yielded, on analysis, from two to 3 per cent. of phosphorus, when carefully sampled. The furnace company had trusted entirely to old analyses made on "outcrop" ore, well weathered, and received all other results with indifference. The result of the first run of the furnace was an iron in large whitish-gray crystals, and so brittle that it could be pulverized in a mortar. This iron contained 4.90 per cent. phosphorus. A limited quantity only was made, which was gradually disposed of as a great ('softener" to foundries. The Moxahala Furnace was subsequently run on Lake Superior ore mainly. The second case of such iron occurred last summer at Mt. Vernon Furnace. A deposit of what was locally known as "Hallelujah" ore, was opened for the furnace. This ore was a blue carbonate, similar to the first-described. The iron made was pure tin-white in color, and showed large crystals without a trace of the grain of ordinary pig-iron. It was sopposed at the furnace to be spiegeleisen, and was sent to me to be

Jan 1, 1884

By Frank Julian

After the solution of an iron ore, or metallic iron, in an acid, for the determination of phosphorus, it is necessary to evaporate the solution to dryness and to heat the residue to effect the complete separation of silica. Authorities differ as to the temperature required, some recormmentling not over 100' C., others as high as dull redness. For the purpose of securing some indications as to the degree of heat which may be safely or advantageously employed, I selected a gray pig-iron, a piece of Bessemer steel rail, and a sample of Ludington ore having the following composition; the phosphorus in the pig and steel being determined by Giutl's ferric chloride method:

Jan 1, 1884

By N. W. Lord

Having recently had occasion to make a series of analyses of fire-clays for the present Ohio Geological Survey, I found that the amounts of potash and soda determined indirectly by measuring the chlorides volumetrically did not " check " with those obtained directly. Investigation with the spectroscope showed the presence of lithia in what seemed very appreciable quantities. The examination was made of a considerable number of samples, and in every case this element was found, though in varying amounts, as judged by the intensity of the spectrum. To guard against error from the impurity of reagents, the whole process was repeated, using the same reagents in corresponding amounts, but leaving ont the clay. In no case did these " blanks" show lithia; hence the presence of this element in the clays seemed to be established conclusively. In the same series of analyses, titanic acid, in amounts varying from three-tenths to nearly two per cent., was found. The presence of titanium was first observed in the Ohio clays, nearly three years ago, in the examination of clays from Logan. The occurrence of this element is, of course, not unusual in clay, but I believe that none of the published analyses of Ohio clays give it; certainly none of the former Ohio geological reports speak of its presence. The following analyses show both the above ingredients. They were made during the summer of 1883.

Jan 1, 1884

By Pedro G. Salom

I HAVE had an opportonity, within the last few months, of making a large number of physical and chemical tests of steel for boiler and ship-plate, which has been, and is now being, used principally for the United States Government cruisers, now building in Mr. John Roach's yard, at Chester, Pa. Through the courtesy of the Messrs. Houston, of the Chester Rolling Mills, I have the honor to lay before the members of the Institate the results of these tests. These results have developed some points in regard to the nature of steel, which are more or less new, and which, I hope, will prove interesting. The original specifications, as regards the manner of testing, were so inipracticable (when their severity mas taken into consideration), that the keel of the first vessel, which will be launched next month, would, had they been carried out, probably not have been laid until next year. At my suggestion, in order to simplify and expedite the immense amount of testing that had to be done, the Naval Advisory Board was induced, after considerable discussion, to alter the specifications, so as to test each heat, instead of each lot of twenty plates, but reserved the right of making the quenching-test on a piece from each ingot, after it had been rolled. This relieved us from the anxiety of having a lot of plates rejected, after they had beell rolled and sheared, by reason of the presence of one or two plates which might have been injured in heating or rolling, or which might not have been able to stand the tests; while it insured the Government in obtaining a uniform quality of steel, and prevented the temptation to introduce a half-dozen or more had plates in a lot, and run the risk of their being selected as the testplates. I give below a portion of the original specifications, as prescribed

Jan 1, 1884

By Magnus Troilius

The method of using the bromine process of determining sulphur in steel, described below, is in successful use at the Midvale Steel Works. Ten grams of drillings are weighed out and put into the 1/2-liter flask A, with long neck. The flask is connected with a wide glass tube C', which, in its turn, is connected with the absorption bulbs B, containing HCI, 1.12 specific gravity, and ahout 5 C.C. of bromine. The wide tnbe C causes the vapor to condense and flow back into the flask A during boiling. The bulbs B connect with a long glass tnbe, which may be made to carry off the bromine fumes through a hole in a window, or, better still, through a flue with powerful draught. The connections being made, 100 C.C. of boiling water are run in through the thistle tube T. The air is thus completely driven out of the flask. 100 C.C. of HC1 (about 1.19 specific gravity) are then run in. When the gas begins to run rattler slowly through B, heat is applied until boiling gradually ensues. The steel being completely dissolved, the apparatus is disconnected, and the contents of B rinsed out into a beaker of 100 C.C. capacity, into which a few C.C. of a concentrated solution of BaCI, have been previously introduced. Heat is then applied (best by means of the hot iron plate) until the bromine is completely driven off and the BaSO, has settled nicely to the bottom. The BaSO4, is then filtered off on a small

Jan 1, 1884

By Magnus Troilius

The heat-calculations of gas-analyses involve cumbrous multiplications, which are apt to lead into errors. The foliowing tables and formulae have been found useful as facilitating such calculations, and therefore I hope that they will be of interest to some of the members. By "heat-unit" will, in the following, be understood the amount of heat required to raise the temperature of 1 kilogram of water l° Cent. All the tables refer to cubic meters at O0 and 760 mm. pressure. The following gas is chosen as an example: C02, - 4.0 vol. per cent. co, = 20.0 " CHI, - 3.5 " H, - 7.0 " N, - 65.5 " " 100.0

Jan 1, 1884