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By William H. Snyer

A relatively inexpensive, very fast response photo-optic/fiberoptic system has been conceived, constructed and employed by Denver Research Institute (DRI) to measure charge breakout uniformity on the surface of a very large ANFO detonation. The new equipment and technique was coined OWL (observation without leads). Its unique design provides the ability to monitor or measure detonation velocities and/or detonation breakout characteristics without fiberoptic or any other direct contact with the explosive. This system has proven to be versatile and has been used to measure surface breakout simultaneity on large ANFO detonations, munition case breakout times and velocity of detonation (VOD).

Jan 1, 1990

By G. Thodos, D. E. Matschke

Cansiderable time and effort frequently are expended to establish, with a degree of confidence, the PVT behavior of pure substances. In particular, a great deal of experimental information contributed by a number of investigators is available in the literature. The data of each investigator, although significant in themselves, cannot be used with a high degree of confidence until they are compared with the continuum of information presented by others. Current interest in thermodynamic and transport properties, for not only the gaseous state but the con-densed state as well, requires that PVT infarmation be presented for both regions. The density dependence on temperature and pressure, when presented as a continuum, is of considerable value in itself, especially since the available equations of state fail to properly account for the PVT behavior in the condensed state. For this reason and to incorporate PVT data recently presented in the literature, this investigation was carried out. In their studies concerned with the thermodynamic properties of methane, Matthews and Hurd in 1946 utilized the data of Kvalnes and Gaddy and Olds, Reamer, Sage and Lacey to establish the PVT behavim of methane in the superheated region and the saturated liquid densities of Keyes, Taylor and Smithl in conjunction with the Clapeyron equation to develop the densities for the saturated envelope. Current activity sponsored by API Project No. 44 under the direction of F. D. Rossini has led to a tabular presentation of compressibility factors for gaseous methane in the superheated region.la These values were obtained by using smoothed residuals, developed from experimental data and the Ben edict-Webb-Rubin equation,' to establish internally consistent compressibility factors for the real gas. This approach offers probably the most precise presentation of PVT information for gaseous methane to date. The PVT behavior of methane also can be represented accurately by equations of state such as the Benedict-Webb-Rubin equation or the Martin-Hoa equation.' These equations, although valuable for analytically representing the PVT behavior, lack precision in the compressed-liquid region. The PVT data available in the literature for methane were utilized to obtain reduced densities that are presented in Figs. 1 and 2 as functions of reduced temperature with parameters of reduced pressure. The critical constants utilized for methane are those reported by Kobe and Lynn." These critical values, T, = 191.1°K, PC = 45.8 atm and p, = 0.162 gm/cc, produce a critical compressibility factor, z, = 0.289. The PVT information, as obtained from the literature, in many instances was not presented in an immediately

By S. M. Shelton

Tests employing various ore-dressing methods were made on a manganese wad ore from the W. A. Chinn property in the Batesville-Cushman district of Arkansas in an effort to develop a practicable procedure for the production of ferromanganese-grade concentrates. The ore body occurs as a bed approximately 7 feet thick in the residual clay of the Ferndale limestone formation5/. The crude wad ores are soft aggregates of various oxides of manganese, which are loosely bonded together. Hard lumps of high-grade ore are disseminated throughout the wad. Hausmannite, pyrolusite, and psilomelane are the principal minerals. Some clay is present, but most of the gangue consists of leached fragments of the original siliceous and calcareous rocks in which the manganese occurred. In addition, hydrated oxides of iron, which axe present, also must be considered as gangue. Definite phosphate minerals have not been identified.

Jan 1, 1942

By C. Keefe, O&apos

Measurements of the quantity of entrained air within processes have challenged instrumentation developers for years. This is particularly true in the unique and demanding operating environment and applications seen in minerals processing. In minerals processing applications, entrained air plays a role in errors seen within nuclear density gauge measurements and in pumping efficiency. It is also the major component of flotation processes. The measurement of the quantity of entrained air, known as the gas void fraction, can now be performed from the outside of a process pipe through CiDRA?s patented passive sonar array-based technology. Within column cells, the need for a robust, no maintenance, accurate means of measuring the entrained air, known as gas holdup, has resulted in a submersible version of this technology. CiDRA?s meter technology calculates the gas void fraction by first measuring the speed at which naturally occurring sound in the process slurry propagates past an axial array of sensors. These sensors are incorporated in a band that is wrapped around the outside of the pipe, resulting in no process downtimes for installation and unprecedented reliability. A known relationship between this speed of sound and the entrained air captured in the form of bubbles within the slurry is then applied in CiDRA?s meter to calculate the gas void fraction. This paper will present the measurement technology, its operation, its calibration and its application in a variety of gas void fraction and gas holdup measurement situations such as pumping efficiencies, hydrocyclone operation, external sparging, and column cells.

Jan 1, 2008

By Claude MacDonald, John H. Ashburn

"IntroductionIndustrial growth and technological change over recent years had been accompanied by two major sources of concern to management and employees: (a) increase in occupational injury and illness and the resultant costs involved; and (b) equipment damage and breakdowns in concentrated production lines causing more extensive loss potential.Due to economic factors, management attention has focussed more on production and quality than on safety, health and related loss potential sources. As a result , occupational safety and health activism has grown, government legislation of compensation and occupational safety and health standards have progressively developed and stronger liability attitudes have been taken by courts of law.To improve efficiency and allow development in more competitive markets, rising labour costs, equipment costs and safety related financial losses have dictated that attention be given to conservation of all resources. Conservation of resources, people, equipment, material and environment, can no longer be addressed in isolation but must be managed integrally with production and quality. To this end, systems have developed utilizing sound management principles applied with equal intensity to production, quality and loss potential"

Jan 1, 1987

By Waldemar Lindgren

THE following pages present data accepted by many geochemists and geologists regarding the succession of minerals and the temperatures of formation in ore deposits affiliated with igneous rocks. They also present the individual views of the author on the composition of the solutions that were active and on the mode of deposition. He does not regard these views as speculations or hypotheses but as forming a well motivated and consistent theory. It is not certain, however, that all investigators will subscribe to them.

Jan 1, 1936

By T. R. Ellis

Minerals Appraisers/Valuers often find great difficulty or failure in attempting to employ the Sales Comparison Approach to the Market Value Appraisal of development and operating stage mineral properties. An important factor generally overlooked is a comparison of net operating income (NOI) margins on a per-unit-of-production basis between mineral properties, whether these be demonstrated or forecast margins. NOI margins can vary greatly between mines or quarries that are producing similar products. Ultimately, the expected NOI margin determines what a buyer is willing to pay for an income producing property. Common criticisms of the sales comparison approach by minerals appraisers are introduced. These are counterbalanced by raising some issues in the way the inputs for the Income Approach are usually derived by minerals appraisers, and by review of some conspicuous examples of the much too common misuse or abuse of the income approach in market value minerals appraisals. Example transaction analyses and sales comparison analyses are used to demonstrate the author?s methodology for adjusting units of resource in his transaction adjustment tables (see APPENDIX). The examples are used as the basis for discussion of ways to employ adjustments for operating economics and many other factors, while cautioning about the potential for double counting. The conclusions include a recommendation that minerals appraisers attempt to apply at least two of the three valuation approaches when appraising the market or fair value of development and operating stage mineral properties, the two being the sales comparison and income approaches.

Jan 1, 2011

By A. Frits van Tol, Rodriaan Spruit, Jan H. van Dalen

"Abstract In recent years, there have been major problems with deep excavations in urban areas supported by diaphragm walls. In some cases, like the fatal Nicoll Highway collapse in Singapore the quality of the D-walls was not the cause. However in other projects, like the problems with the major leak in the walls of the Boston Big Dig and with leakage in a few projects in Belgium and The Netherlands was related to poor D-wall quality. Leakage through the D-walls at the joints in deep excavations led in these cases to very serious settlement behind the walls, in the case of the North- South line in Amsterdam, there was severe damage to historical buildings. This paper describes ongoing research that focusses i on acquiring more knowledge on and improvement of D-wall installation, in particular the flow process prior and during casting ii on the detection of anomalies prior to excavation and iii on the composition of the concrete mixture in view of a better and more sustainable concrete quality of D-walls.INTRODUCTIONIn the case of deep excavations in urban areas close to neighbouring buildings, diaphragm walls are one of the best feasible solutions for the retaining structure. Although the costs of D-walls generally exceed the costs of alternative wall solutions, the advantages are decisive in many situations. The main advantages of D-walls are the limited impact of the installation on the built environment, the high stiffness and bearing capacity and the retention of water, even at considerable depths. This makes Dwalls often the preferred solution for deep excavations Sometimes the D-walls are the temporary support while for the final stage a complete concrete box is constructed in the excavation. In many other cases the D-wall has the permanent function of retaining soil as well as groundwater.In the last ten years, there have been major problems with deep excavations in urban areas supported by diaphragm walls. In some cases, like the fatal Nicoll Highway collapse, 2004 , the quality of the Dwalls was not the cause. In other important failures like the collapse of the Archives in Cologne, 2008 and Dubai Infinity Tower Flooding, 2007 a combination of design and quality issues played a role. However, the major leak in the walls of the Boston Big Dig was related to poor D-wall quality (McNichol, 2000). Van Tol et al, (2010) describe a number of case studies in Belgium and the Netherlands, with leakage through the D-walls at stop end joints. In several cases with deep excavations these leakage caused serious surface settlements behind the walls. In the case of the North-South line in Amsterdam, there was severe damage to historical buildings. All these cases have generated considerable additional costs and delays, and subsequently public and political concern. Van Tol et al. (2010) present several possibilities to improve the quality of D-walls.Other disputes related to D-walls deal with the quality of the concrete and the sustainability of D-walls applied as a permanent wall. In particular the porosity of the concrete cover is sometimes problematic."

Jan 1, 2014

By J. P. D. Strydom

The transmission of excessive vibration to the human body can cause physical stress that may result in crippling pain or permanent disability. Rock drills are known to transmit high levels of vibration that are difficult to attenuate through conventional approaches to vibration isolation. However, it can be shown that once the ISO frequency weighting has been applied, most of the vibratory effect of the rock drill?s motion is concentrated at the drill?s operating frequency. This observation opens the way for utilizing a concept known as vibration absorption, aimed at attenuating the rock drill?s vibration. In essence this entails using the inertia of a secondary vibratory system to counteract the motion of the handle. This article documents an investigation into the use of such an absorber for attenuating rock drill vibration and demonstrates the feasibility of such an approach. A mathematical model of such an absorbing handle was developed and used for design studies. Based on these investigations an experimental prototype model was manufactured and tested. A significant reduction in vibration levels could be achieved.

Jan 1, 2002

By Roussos Dimitrakopoulos

Conventional approaches to estimating reserves and optimizing mine planning and production forecasting result in single, often biased forecasts. This is largely due to the non-linear propagation of errors in understanding orebody attributes from a limited finite number of drilling data, throughout the chain of mine planning and mining. A new mine planning paradign is considered herein to include two interacting and potentially fusing elements: stochastic simulation and stochastic optimization. These two elements provide an expanded mathematical framework that allows the modelling of orebody uncertainty and its direct integration to mine design, production planning and valuation of mining projects and operations. This stochastic framework has shown to increase the value of production schedules in the order of 25%. In addition, case studies show that stochastic optimal pit limits are about 15% larger in terms of total tonnage, compared to the conventional (deterministic) optimal pit limits. This difference extends life of mine and adds approximately 10% of net present value (NPV) to the NPV reported above from stochastic production scheduling within the conventionally optimal pit limits. Furthermore, results suggest a potential new contribution to the sustainable utilization of natural resources.

Oct 1, 2009

By B. R. Mohal, S. Chander

"The adsorption and wetting behavior of freshly ground and aged coals has been determined in the presence of a nonionic surfactant. The amount of surfactant adsorption changes with the concentration and ""age"" of the coal. The freshly ground coal has smaller amounts of adsorption at lower surfactant concentrations than the ""aged"" coal whereas at large surfactant concentrations, the order is reversed . In the latter case, more surfactant is adsorbed on fresh coal than on the ""aged"" coal . . It is proposed that at low concentrations, the surfactant adsorbs through both hydrophobic and hydrophilic interactions with the molecule lying parallel to the· surface, whereas at higher concentrations surface micelles form at the hydrophobic sites. The wetting behavior correlates well with the adsorption behavior.INTRODUCTIONNonionic surfactants have many applications in the coal and mineral processing industry. They can be used as dispersing agents to modulate flotation, flocculation and filtration of particulates (1). They can also be used to increase the wettability of hydrophobic solids such as coal and can hence be used as dust suppressants (2,3). Although the adsorption of representative nonionic surfactants such as Triton N-101 (an ethoxylated nonylphenol with 9.5 moles of ~thylene oxide and HLB equal to 13.4) have been studied extensively on substrates such as calcium carbonate (4), silica (5) carbon black (6) and graphite (7), very few studies are available for coals. Coals differ from other substrates with respect to two important characteristics: 1) coal are porous and 2) coals consist of a patchwork of hydrophobic and hydrophilic sites (8). Since the adsorption characteristics of a surfactant are influenced significantly by the nature of the substrate the characteristics of the coals must be taken into consideration."

Jan 1, 1989

By D. L. Petersen, C. R. Nelson, B. K. Nelson, B. D. Wagener

The Lafayette Bluff tunnel, currently under construction for the Minnesota Department of Transportation (MnDOT), will be among the widest highway tunnels in the United States. The 199-meter tunnel is being constructed in a closely jointed, variably weathered diabase rock mass. Cover above the tunnel crown ranges from 4 meters to 27 meters, and is less than the tunnel excavated width of 18.3 meters for about 60 percent of its length. These factors dictated special support and lining design, limitations on excavation sizes and required sequences for support installation. Tunnel excavation is by controlled blasting, with multiple top headings and bench. Rock support and lining consists of external portal beams, rockbolts and reinforced shotcrete. A final concrete lining provides structural support for the rock mass and the membrane waterproofing system.

Jan 1, 1991

By A B. Christie, R L. Brathwaite, A Swain

This study provides quantitative data on vein distributions within seven selected epithermal systems, four deposits hosted predominantly in rhyolitic rocks: Ohui, Wharekirauponga, Neavesville and Komata, and three major deposits mainly hosted in andesite: Martha Hill, Golden Cross and Karangahake. The technique of fractal analysis was used to help quantify vein distribution patterns. The fractal dimensions (D) obtained are related to the number of veins per metre, the degree of vein clustering, and vein thickness. An increase in any of these tends to increase the fractal dimension.   It is the relative relationship of these parameters that is important for the characterisation of vein distributions, and the comparison of different deposits. Within the same systems, the rhyolites are characterised by lower vein thickness and vein density, but have a higher degree of vein clustering compared to the andesites. Sections that are deeper and more centrally located within the epithermal system and/or close to major structures tend to have a greater degree of vein clustering, higher average vein thickness and density, and higher thickness to density ratios. This depth control is most pronounced in epithermal gold-silver systems because they have formed at shallow crustal levels where physico-chemical conditions change drastically both vertically and laterally. In addition to lithological and structural control at vein scale, deposit scale structure is of great importance in the deposition of economic mineralisation. Large open vein structures capable of sustaining high fluxes of hydrothermal fluid, favourable for the formation of large, high-grade gold deposits, are best developed in andesite sequences.

Jan 1, 1995

By H. H. Dewing

The Bureau of Mines constructed a process research unit (PRU) to demonstrate new technology for extracting zinc from sphalerite concentrates. Up to 9 kg/hr of sphalerite (ZnS) concentrate was reacted at ambient pressure in the PRU with 80 pct sulfuric acid at 160° to 180° C to produce zinc sulfate and elemental sulfur. The PRU consisted of a three-stage glass reactor system: a 4-liter premix stage in which feed was slurried with 78 to 82 pct H2S04, a 40-liter stirred reactor, and a ISO-liter settling stage in which high reaction conversions were effected and excess H2S04 for recycle was separated from insoluble ZnS04 and sulfur. Evolution of sulfur-containing gases was minimized by sub-surface addition of acid feed slurry to the stirred reactor and by exclusion of air from the reactor to prevent the oxidation of elemental sulfur. Conversion of zinc to zinc sulfate averaged over 99 pct at the optimum acid concentration of 80 pct. Total sulfur losses (primarily S02) were less than 2 pct of the sulfur in the sphalerite. Elemental sulfur remained in the insoluble portion of the settled reactor product after leaching with simulated spent zinc electrolyte containing sulfuric acid. The sulfur residue contained 75 to 89 pct sulfur. Neutral zinc sulfate, required for zinc electrowinning processes, was separated from the sulfuric acid leach solution by crystallization at -15° C as zinc sulfate heptahydrate (ZnS04?7H20). The crystallization operation simultaneously effected a partial concentration of the recycled electrolyte solution by removing water.

Jan 1, 1982

By Gary R. Peterson

In order to determine the potential availability of alumina to feed U.S. aluminum smellers, the Bureau of Mines evaluated 39 domestic mines and deposits of bauxite, alunite, and high-alumina clays and found that substantial increases in alumina prices would be necessary before nonbauxitic deposits could become competitive with bauxite. As part of the study, a price-tonnage relationship was developed indicating the quantity of alumina that could be produced from known deposits at various alumina prices and at a 15-pct discounted cash flow rate of return on the required capital investment. All capital and operating costs were calculated in August 1980 dollars. The domestic bauxite reserve base comprises three operating bauxite mines in Arkansas containing some 15.6 million metric tons of recoverable alumina (A1203). Ferruginous bauxites, clays, and alunites fall into the subeconomic category of identified aluminum resources, which, at the demonstrated level, contain over 4,000 million metric tons of alumina that are estimated to be recoverable. Analyses indicate that, at the demonstrated resource level, a total of some 15.6 million metric tons of alumina, all from three active Arkansas bauxite mines, is recoverable at a 1980 price of $0.12 per pound ($264 per metric ton) of alumina. A price of approximately $0.26 per pound ($573 per metric ton) of alumina would be required for production of the total U.S. resource. Thus, unless new technological breakthroughs occur that could make alternate sources of alumina competitive with bauxite, U.S. dependence upon imported bauxite will continue to increase.

Jan 1, 1981

By Kanchan K. Sen

The North Shore Connector (NSC) project will extend the Allegheny County Port Authority?s Light Rail Transit System from downtown Pittsburgh below the Allegheny River to the North Shore via twin bore tunnels. Jet grouting, diaphragm walls, and soil mixing were selected as cost-effective technically viable ground improvement and support of excavation techniques. Jet grouting was specified to provide break-out (egress) and break-in (ingress) block sections at the tunnel boring machine (TBM) launching and receiving pits. Jet grout treatment was also used adjacent to buildings with shallow foundations and below retaining walls along the tunnel alignment. A new method for measuring jet grout column diameter based on electrical resistivity was employed on the project. New equipment was introduced in the U.S for constructing soil mix temporary support of excavation using a soil-mix technique termed Cutter Soil Mixing (CSM) due to the use of two vertical cutting wheels that have evolved from diaphragm wall trench cutter technology. The system allows for continuous water tight soil mix panel construction including steel beams. This paper highlights some applications of jet grouting and various support of excavation systems (e.g. slurry walls, cement bentonite walls and CSM walls), including new innovative techniques (e.g. Cyljet and CSM) used under the constraints of an urban environment.

Jan 1, 2010

By Júlia Guimarães Sanches

O curso de Engenharia de Minas sofreu uma expansão, juntamente com todo o ensino superior no país, por volta de 2005. O objetivo do presente estudo é avaliar as características dos cursos do país e realizar uma comparação com cursos de outros países com grande produção mineral. Foi feito um levantamento inicial a partir de informações disponíveis nos sites do MEC, INEP e das universidades. Como complemento, realizou-se um questionário com os coordenadores dos cursos de Engenharia de Minas do Brasil. Foram compilados ainda dados relativos à estrutura curricular e carga horária dos cursos de Engenharia de Minas dos EUA, Canadá, Austrália, Chile e África do Sul. Em relação à comparação das grades curriculares com os cursos de outros países, observou-se que no Brasil o curso possui uma maior cara horária de Tratamento de Minérios em detrimento da lavra. Nos demais países estudados, o foco das disciplinas é a lavra, já que nestes países a área de Tratamento de Minérios é assunto de outras Engenharias.

Oct 30, 2017

By Thomas M. Barczak

Wood cribs are used extensively to stabilize openings in underground coal mines. This U.S. Bureau of Mines report describes the results of full-scale testing of several multitimbered wood crib configurations. Multitimbered configurations are wood cribs that are constructed with two or more timbers per layer. Nine different crib configurations were evaluated. Configuration parameters under study included the aspect ratio (height-to-width relationship) and the percentage of solid rr:aterial used in crib construction. Test results and generalized wood crib behavior are discussed and recommendations are made concerning crib constructions to maximize strength and stability. Crib performance is enhanced by reducing buckling effects by decreasing the aspect ratio and geometry considerations that increase the moment of inertia. A cost benefit analysis of multitimbered wood crib configurations is made. Generally, increasing the percentage of solid provides more resistance at less unit construction cost. A comparison of laboratory results and underground observations of several wood pack wall supports suggest in situ load capacity is less than that measured in laboratory testing. Reasons for the apparent decrease of in situ load-bearing capability include load rate effects, stiffness of reaction surfaces, and varying boundary conditions that alter the load transfer mechanics of the crib structure.

Jan 1, 1991

By Axel Preusse

For the last 150 years, subsidence damage to the surface has been an unavoidable phenomenon associated with underground coal mining. In particular, the mechanization of mining methods in multiple seam mining and the concentration of mining activities in densely populated European metropolitan areas (e.g., Ruhr, Upper Silesian industrial region) have led to mining having a very strong influence on the earth?s surface. In both these regions, surface subsidence of more than 20m has been reported up to now in comparison to the original state. Underground coal mining in these regions strongly impairs all kinds of surface use, such as urban and industrial development, infrastructure (roads, waterways, and railways) and pipelines?without restricting the functionality of those objects to a greater extent. Demanding and, in some cases, globally unique engineering solutions have been developed and implemented for this purpose. The previously mentioned mining and industrial regions are still very strongly characterized by the (increasingly declining) coal industry and will remain dependent to a large extent and for an indefinite period on artificial drainage measures because subsidence that has already occurred is irreversible. This paper will primarily discuss the prediction of subsidence that is caused by intensive multiple seam mining and its influence on surface objects (e.g., underground pipelines). However, an approach for predicting ground uplifts due to rising mine water as a consequence of mine closures will also be described.

Jan 1, 2012

By Andrew Bamber

Between the early 20th Century and the present, the production of mined copper ore has increased from tens of millions of tonnes per annum to several billion tonnes per annum, an unprecedented increase. Contemporaneously, the average grade of mined copper ore has declined from over 2% to approximately 0.5%. Again, in parallel, the price of copper has increased dramatically to reflect the increasing cost of extracting and beneficiating such large amounts of low-grade ore. Within the period the copper price however exhibited several periods of intense volatility, driven by interrelationships between demand and supply, themselves strongly driven by periodic industry developments in the fields of exploration, ore extraction, mineral processing and extractive metallurgy. It is notable that these periods of intense innovation exhibit a strong correlation to preceding periods of price, demand or production volatility. This paper examines key trends in each theme between 1900 and 2018 and draws strong conclusions as to the interrelationship between them. INTRODUCTION The production of copper metal has increased from around half a million tonnes per annum to over fifteen million tonnes per annum over the course of the 20th Century. Contemporaneously, the average grade of copper ore mined has declined from over 2% to approximately 0.5% copper by weight. As a result, the volume of Run-of-Mine (ROM) copper ore required has increased from around ten million tonnes per annum to over a five billion tonnes per annum over the period, an unprecedented increase. The adage is that demand drives supply, that prices rise in times of high demand and/or short supply, and that prices fall when supply catches up with demand. The market sellers in biblical times knew this well; mediaeval market sellers equally. Dutch tulip sellers in the 1600’s experienced both in extremis — much to their dismay — and the great industrialists and early capitalists of the industrial revolution knew this also. Mining recently went through a cycle where investors and producers both believed that the “old” rules did not apply any more and that the industry was in a “supercycle” where prices would continue to rise on the back of increasing demand. However, as the GFC of 2008–2011 showed, this was not to be. Another adage says that we constantly innovate to lower costs of production. Is this true? Do we only innovate to lower cost? Has the true cost of producing copper actually gone down over the century? Or are there other balancing forces at play? Herb Kellogg, in his Centenary address to the American Institute of Mining Engineers (now SME), categorized two types of innovation: ‘Bigger and Better’, and ‘New Process’ (Kellogg, 1970). ‘Bigger and Better’ allows increased production at presumably lower cost; ‘New Process’ supports the same result at presumably the same scale, but at significantly enhanced efficiencies and (therefore) lower cost. It is suggested that both types of innovation are constantly and interchangeably required to achieve the kind of scale-up, at achievable operating and capital cost that the industry has achieved over the period. What can be shown, over this last Century and a bit, is that supply and demand are indeed inextricably linked, price and demand are linked, but so are price and cost of production. And the innovation required to sustain that weaves in between them all, cost-effectively increasing production capacity or lowering the cost of production at the same throughput, and sometimes both.

Jan 1, 2019