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By Paul Sarnoff

The economics of precious metals -- depending upon who is involved --could be the economics of hope, of fear, indeed of profit and perhaps survival. For those investors seeking capital gains in a puzzling economy, precious metals involve the economics of hope. Those who are convinced that currency soon won't be worth the paper it's printed on turn to precious metals because of the economics of fear. Gold and silver have been a storehouse of wealth since biblical times. The economics of fear during the past 500 years on the Continent has caused almost every European family to make sure a private stockpile or hoard of gold, silver or coins is at hand in case the paper currency of their country undergoes the kind of disaster that came to the German Mark after World War I. Understandably, for mining companies involved in the production of precious metals, the elements of operations and management are directly concerned with the economics of profit -- and perhaps survival. To the American miner the price of precious metals in the marketplace is a matter of daily concern. After decades of selling silver to the US Government at 64.64 cents an ounce, producing silver mines suddenly became faced with prices breaking $5, $10 and $20 per ounce, and approaching $50 an ounce during the period 1978-1981. What should the miner expect one year in the future? Five years?

Jan 1, 1981

By T. A. Rickard

"The chief aim in style ought to be absolute precision", said Flaubert. "There is only one noun that can express your idea, only one verb that can set that idea in motion, and only one adjective that is the proper epithet for that noun." Let this be your motto. The engineer tries to be exact in all his measurements; he should measure his language with similar exactness. The technical term is a word of precision. It is not only precise, it is a word-saver. To the unscientific the earth is "a ball slightly flattened at the poles, something like an orange". To the scientific it is "an oblate spheroid". A similar contrast between the precision of the technical term and the vagueness of common words is afforded by a conversation between Ivanhoe and Rebecca: "' What device does he bear on his shield?' asked Ivanhoe. 'Something resembling a bar of iron, and a padlock painted blue on a black shield.' 'A fetterlock and shacklebolt azure', said Ivanhoe "-using the technical terms of heraldry. It is good style in writing, however, to adapt your manner of expression to the intelligence and experience of the person or persons to whom the writing is addressed. The description of a mine should be worded differently according as it is intended to inform a mining engineer, a director, or a bishop. REMEMBER THE READER. It is as incorrect to write in a technical way for a non-technical reader as to write in a popular way for a technical or scientific reader. That style is best which enables the writer to place himself in the closest mental touch with his reader, to establish the maximum of sympathetic understanding. Let your precision be\ proportioned to your accuracy. You should not try to be precise in matters that do not admit of

Jan 1, 1931

Precision surface mining is increasingly occupying a significant role in open pit mining. Improvements in technology now allow continuous surface mining of material well above 140 MPa (20 300 psi) efficiently and cost effectively when compared to drilling and blasting/primary crushing methods. These include the elimination of the use explosives and primary crushing, the ability to precisely extract the ore from the waste, or separate ores of varying chemistry and mine thin seams and non-homogenous orebodies cost effectively. In addition, precision surface mining extends the useful life of a mine by extending the mine boundaries. It can expand production capacity in existing mines and is particularly cost effective in greenfield start-up mines. Precision mining techniques result in higher percentage recoveries. This paper reviews several of these techniques for the Terrain Leveler« surface excavation machine (SEM), and shows their impact. Vermeer's current approach to precision surface mining is utilisation of the T1255 Terrain Leveler SEM. Several units have been proven in round-the-clock, seven day operations throughout the world. Among other innovations are design simplicity, stability, maneuverability, rear-mounted tilting drum and top-down cutting. The impact of these items are discussed in more detail in the paper. After a detailed analysis of the importance of machine availability on overall mine performance, Vermeer has extended its equipment line to include a direct-drive option for its T1255 Terrain Leveler SEM. In addition, improvements in dust suppression are presented. While the T1255 Terrain Leveler SEM is of optimum size and cost in small and medium sized mines, Vermeer has recognised that larger mines require larger machines with increased capacities. Vermeer will prototype the T1655 Terrain Leveler SEM later this year. Specifications of this machine and up-to-date preliminary results are presented. A discussion of the role of each machine size and driving mechanisms are included. Finally, the next stage in Vermeer's providing solutions to the surface mining community will be described - a continuous loader. The impact on current mine planning is presented using a detailed computer program developed for studying the impact of loading techniques and higher production rates on mine plan optimisation.

Dec 6, 2010

The dynamic response of holdup in a continuous ball mill has a direct influence on the rate function of grinding kinetics and is useful for predicting the variation in the size distribution of the finished product with time.A model was proposed involving three interacting, completely mixed chambers and this was used to derive analytically the transfer function of the system, from which the unit impulse response and the unit step response of the holdup with feed rate were obtained.The theory was confirmed by comparing it with previously published experimental data for the residence time distribution of particles passing through a ball mill.

Jan 1, 1975

By J. Hilgers

Metal prices are often predicted by relying on time trend projections of various economic indicators or even the trend in price itself Thus, time is the underlying explanatory variable acting through at best, a limited selection of economic variables. The price prediction method described in this paper differs from this by analyzing hundreds of economic variables to develop a few principle components that automatically capture the fundamental changes in the economy and delete duplicate or irrelevant information. This leaves a few principle variables to describe a state-space representation of the economy which can then be used for prediction. Forecasts of the price of a metal are then made based on these principle variables.

Jan 1, 1995

By D. Hoffmann, S. Plumb

IRUP is an iron-rich ultramafic pegmatite rock that formed due to hot ironrich fluids and gases replacing local stratigraphic zones of the Bushveld Complex. This study focuses on the estimation of the probability of IRUP occurrence on the Merensky Reef at the Marikana Karee Mine. A 2.15 million centare IRUP-rich domain at the Karee Mine was initially defined from the interpretation of a surface aeromagnetic anomaly, and exposures in the mine workings. Surface boreholes (spaced 250-500 m apart) within this IRUP domain contain approximately equal numbers of IRUP-replaced and IRUP-free intersections. Owing to the uncertainty in the continuity of the IRUP alteration (a result of the wide borehole spacing), the risk associated with the development of mining infrastructure within this domain is unquantifiable. Semi-quantitative data comprising visual estimates of IRUP replacement from reef development mapping data and surface borehole reef intersections was interpolated into blocks using indicator kriging estimation. Comparative analyses of the estimate of IRUP occurrences were made by changing the block size and declustering the data systematically. Reconciliations of the probability of IRUP predicted from the block models derived from the different data-sets and sequential indicator simulation models were analysed for four mining study blocks. A quantitative approach to modelling the occurrence of IRUP can be an additional tool for refining the estimate of the geological losses that inform the mine plan in such high-risk zones.

Jan 1, 2015

By A. Adeli, A. V. Metcalfe, E. Addo, E. Sepulveda

"The accurate modelling of geometallurgical data can significantly improve decision-making and help optimize mining operations. This case study compares models for predicting copper recovery from three indirect test measurements that are typically available, to avoid the cost of direct measurement of recovery. Geometallurgical data from 930 drill core samples, with an average length of 19 m, from an orebody in South America have been analysed. The data includes copper recovery and the results of three other tests: Bond mill index test; resistance to abrasion and breakage index; and semi-autogenous grinding power index test. A genetic algorithm is used to impute missing data at some locations so as to make use of all 930 samples. The distribution of the variables is modelled with D-vine copula and predictions of copper recovery are compared with those from regressions fitted by ordinary least squares and generalized least squares. The D-vine copula model had the least mean absolute error. IntroductionIn this paper we compare the use of D-vine copula, generalized least squares (GLS), and ordinary least squares (OLS) for modelling geometallurgical data from an orebody in South America. The first objective is to construct models for predicting copper recovery (Rec) from the Bond mill index test (BWi); resistance to abrasion and breakage index (A*b); and semi-autogenous grinding (SAG) power index test (Spi). This involves fitting a D-vine copula and regression models fitted by OLS and GLS. The second objective is to investigate the performance of the fitted models for predicting Rec (Willmott and Matsuura 2005).Traditional resource model approaches either ignore the mineral processing characteristics of extracted tonnages or treat processing as an independent component of a mining operation. The net present value (or any other objective) can be truly optimized only by considering the mining operation as an integrated system in which net value is defined as the end-product that the company sells. This approach requires the resource model to be extended to include all relevant rock properties and processing responses."

Mar 1, 2019

In a previous study, various pyrite depressants were examined to improve the flotation performance of a copper-sulfide ore. Optimal results from this study were used to examine the effect of elevation on recovery and grade. Tests were conducted at elevations of 3350, 1735, 610 and -760 metres, consisted of five repetitive experiments for statistical analysis, and were performed both with and without airflow control. Tests were also performed in a glove box at Montana Tech to mimic the pressure conditions. Results indicate that both recovery and grade are dependent on pressure via bubble size and airflow suggesting that pressurised flotation cells should be considered for operations, particularly those at high elevation. Economics are extremely favourable for implementation because ensuing capital expenses are inconsequential with minimal time for return-on-investment.

Jan 1, 2005

By R. P. Smith

PRIOR to June, 1937, the employees of Hollinger Consolidated Gold Mines, Ltd., at Timmins, Ontario, received medical care for themselves under a contract system developed through an agreement between the employer, employee, and a contract physician. This form of practice is common to the mining industry in Ontario. But with the improvement in mining methods and conditions of living, and through an increasing demand for provision of a complete medical care, it was not any surprise when the employees of the Hollinger mine approached organized medicine and indicated their desire for a plan to provide their families with a more or less complete medical service in addition to that supplied for themselves. In April, 1937, this approach was made, and on June 18th, 1937, the Hollinger Employees' Medical Services Association was formed and started to provide medical services. A review of five years' experience is now presented. The Association provides complete medical service for the employee, his wife and family, as well as those dependents who are the total responsibility of the employee. The employee membership is limited to employees at the Hollinger mine in Timmins who reside in the immediate vicinity. The employee is examined by a Company doctor on application for employment and is subject to further examination by a specialise in chest diseases under the direction of the Workmen's Compensation Board of Ontario. The wife and family are not subject to examination but have to be registered when the employee is accepted for employment. The dependents, other than the immediate family, are subject to medical examination and approval after the employee has applied for such dependent or dependents to be admitted. Membership in the Association is obligatory when the employee is hired, but at the end of any Association year he may drop out if he so wishes.

Jan 1, 1943

By R. L. Kloberdanz

Peruvian legislation requires the preparation of an Environmental Impact Study (EIS) for new and expanding mines/beneficiation facilities and the preparation and implementation of an Environmental Adjustment and Management Program (PAMA) to control and mitigate environmental impacts associated with existing mining/beneficiation activities. Shepherd Miller, Inc., developed guidance documents for preparing an EIS and PAMA for Peru's Ministry of Energy and Mines and presented workshops to Peru's mining industry on preparing an EIS and PAMA. This paper discusses the process and approach taken and the results.

Jan 1, 1998

Preparing for automated sample preparation has two facets; the need for better procedures as seen by the laboratory Manager and the approach to be adopted as envisaged by the equipment manufacturer. Both have many options and during the 1990s some at least of these options will be tried. As automation of sample preparation is only just beginning, can it be said that there is a real need for better procedures. What does automated sample preparation have to offer? Does it have real advantages or is it just a marketing tool to sell equipment?

Jan 1, 1976

By E. Just

The mining industry is guaranteed an important future because its products are indispensable. However, this can be anything from a brilliant, efficient, profitable future to one of being a heavy-handed, dull-witted claimant for public handouts, according to the caliber and training of the young men who enter the industry. Many views have been expressed about the type of education needed for today's mining industry. Criticisms have been aired to the point that further controversy amongst ourselves could be detrimental to both mining education and the mining industry. It is time we get together and start going somewhere. To canvass the various attitudes of mining educators, a questionnaire was sent to a group of these dedicated, intelligent men, whose primary interest is to help the industry and the profession. The following is a summary of their views.

Jan 9, 1961

By W. C. Lacy

It is the responsibility of educators to look ahead and prepare young engineers and scientists to cope with industrial and social problems of the future. We are faced with a review of history as well as prophesy of the future. The mining industry exists in a "bubble" with little interaction or communication with the outside. This isolation must be broken down if the industry is to survive in the U.S. and Canada. The ability to communicate with the general public and public officials is essential. Many changes are occurring that will require readjustments in technology and staffing. Aging population will result in raising retirement and increasing available workforce. This may force shorter working weeks to supply additional jobs. Environmental concerns will likely direct more attention not only to these concerns during mining, but to planning for post-mining land usage. Retraining and up-dating educational programs are required to cope with these changes.

Jan 1, 1994

By T. A. Rickard

The function of a preposition is to show the relation of one thing to another; it is necessary therefore for the writer to select the preposition that indicates the particular relation, otherwise he will fail to express himself clearly. Is it against common sense' to suggest that a Government is justified, morally as well as constitutionally, in preventing the decay of an industry by insisting upon the amalgamation of the prosperous with the needy? All these seven prepositions are used correctly. With the first dredge introduced in Russia, of Werf Conrad, Haarlem, make, this method of alluvial dining became important. Here the prepositions "with", "in", and "of" are used wrongly. He means: "This method of a1lu;ial mining sprang into importance shortly after the first dredge, made at the Werf Conrad, Haarlem, was introduced into ;Russia." The statement itself ii not true, but for that I am not responsible. Once, while I was serving with him, we were frozen in out of sight of land in the Gulf of Pichili in the North of China. Admiral Fisher wrote thus. He has used nine prepositions in making this brief statement. The sequence of three prepositions "in out of" is particularly awkward.

Jan 1, 1931

By Ernest N. Wolff

You here are all familar with the myriad of new laws, some enacted and some pending, that affect the mining industry. These laws, for example those dealing with suspended matter, affect us in Alaska as they do you. Likewise, our friends in government, the Geological Survey and the Bureau of Mines, provide us with the same fine services that they do elsewhere. I am not going to speak today about these, but concentrate on one act of Washington, D.C. the impact of which is felt, for now at least, principally in Alaska. A little more than a year ago, I spoke in Spokane on the subject, "Governmental Challenge to Mineral Development in Alaska." I outlined some of the policies of Government which were operating to change the rules under which the industry operates and to alter the relation- ship between government, industry, and the individual. At that time the Native Claims Settlement Act had not been passed, but was on the verge of being so. In reading over what I said in Spokane, I note that I touched on many points where Government was actually challenging mineral development in Alaska. With the passage of the Alaska Native Claims Settlement Act, many of these actions were given a cloak of legality, and machinery was set up to concentrate the drive to tie up the public domain, machinery which will allow govern- mental control and interference with the actions of individuals on something like 90% of Alaska's land surface. This remarkable law is going to affect each and every one of you. Now, a year after its passage, we are only just beginning to see its lesson for the future. It was created by a coalition of powerful groups, who got other groups to support them by promising to deliver something they had no intention of delivering. Alaskan issues are again being used to get various groups not to oppose legislation which will severely harm them. It will help to understand the nature of this new drive if we understand the Native Claims Act and how it came into being.

Jan 1, 1973

By M. M. Fine

A process for simultaneously reducing and indurating iron are pellets was developed by Bureau of Mines laboratory research and confirmed on a continuous pilot plant basis. Moist iron are concentrate was balled, mixed with solid reductant, and heated at about 1,100° to 1,150° C. On a small scale, a variety of concentrates and fuels were utilized successfully. The pilot rotary kiln tests were limited to natural magnetite, synthetic magnetite, lignite, and anthracite. In both cases, partially reduced pellets with excellent physical properties were regularly produced with average analyses of at least 80 percent total iron and 60 percent or more metallic iron. These and other prereduced pellets were smelted in the Bureau's experimental blast furnace facility, Bruceton, Pa. With prereduced spheres comprising 85 percent of the burden, the coke rate was approximately half that with standard oxide pellets and production of hot metal was increased by 75 percent. Economic appraisal of the cost of making hot metal indicates that reduced pellets could be more profitable than any other iron raw material in both investment capital and daily cost of operation.

Jan 1, 1970

By Mark L. Requa

(San Francisco fleeting, October, 1911.) DURING the past two years California has developed a new and important oil-field : I refer to Midway. This field produced the famous Lake View gusher, which is credited with a total production in excess of 8,000,000 barrels. Fortunately for the oil industry of the State, this well is now a thing of the past, and nothing save a great crater-like opening marks its location. The pipe is entirely worn away and gone ; and it is a matter of serious doubt if there can be anything done that will cause the well to produce again. Fortunately, also, there have been no, other wells in that field or elsewhere throughout the State that in any way compared with the Lake View. Midway is noted for large wells, of from 500 to 2,000 barrels production; but the decline is rapid, and a few months serve to bring the output down to a few hundred barrels. In the oil-territory heretofore blocked out as proved and probable, there have been, during the year, many changes. Some areas which were expected to be fairly productive have apparently failed; others, more strictly "wild-cat," have come in; while in some of the older fields there are properties which are beginning to show evident signs of exhaustion. The total area of proved territory will therefore probably suffer but small increase, when balances are struck off. The increase of new area has come from extensions of the Midway field, the development of a field in Lost Hills and Belridge, and extensions of the Fullerton-Whittier field in southern California. In these later developments, down to date, the fresh area absolutely proved is not much in excess of 3,000 acres. Recent developments in Coalinga indicate the possible extension of that field to the south, but at great depth. Coalinga is still the most northerly field of any consequence in the State. The Kettleman Hills have hitherto brought in nothing, although a

Apr 1, 1912

By Albert F. J. Bordeaux

(Cleveland Meeting, October, 1912.) THE immediate vicinity of the sea-shore, affording special facility for the exportation of ores, makes it possible to work certain mines in the Vladivostok district, which, in more remote places of Siberia, would remain unproductive. Outside of the city of Vladivostok the population is small and the country is very little prospected. Additional discoveries of valuable deposits like the large body of calamine which has recently been opened in the neighborhood of earlier worked lead-silver ores, in the Tetiuhe valley, are still in the field of possibilities. For many years gold alone was produced, in part from the coastal rivers and in part from a quartz-vein on Askold island near Vladivostok. But the production is diminishing, and prospectors are looking for other rivers in the interior, such as the tributaries of the Ussuri. These rivers are now more accessible than formerly, due to the slow but gradual development, of colonization by the Russian peasants. The few natives of the country, called Orodjones, are of the Chinese race. They resemble the North American Indian and are hardy fur-hunters. They have given some attention to placers and have already shown good specimens of gold-dust from the rivers Iman, Bikin, Noto, etc. Coal-mining was begun in the Vladivostok region more than 20 years ago, but in a somewhat irregular way. The industry is not as yet important and the best coal-seams are badly prospected, or ire even neglected. Copper, lead, and iron exist in several places. The amounts give some encouragement to the anticipation that the discoveries will give rise to important metallurgical works. I here present a review of the various deposits, based upon such safe information as is in hand, when I have not drawn upon my personal observations. Fig. 1 is a snap of Eastern Siberia, showing the mineral deposits.

Oct 1, 1912

By M. E. Lombardi

IN comparison with the mining industry the petroleum industry is new and inexperienced, and until now it might have been called the fortunate industry. Its great good fortune consisted in two things; a bountiful supply hidden by nature in the rocks of the earth, and a steady and large increase, during the past twenty-five years, in the demand for petroleum products. It is a remarkable fact that consumption of gasoline in the United States has shown an increase every year since automobiles first became important, and even in 1930 there was a four per cent increase, in spite of the universal depression; the estimated increase if the times had been normal, was ten per cent. This industry has, therefore, not passed

Jan 1, 1931

By R. C. Canby

JUDGE GRANT, in a delightful satire of his, says: "Boston is a state of mind." I think that this same statement might well be made of the metallurgy of lead. I was particularly impressed with this when about thirteen or fourteen years ago I prepared a paper on "Development of the American Water- jacket Lead Blast Furnace." Dividing the time, as I did into ten-year periods, from the commencement of lead smelting at Eureka, Nev. (1870), and showing the tendency for each of the five decades it was evident that the progress had been through a succession of states of mind from the rule of thumb through the ultra scientific, or from what I might call the slag type period up to the present highly developed art. Conservatism has been characteristic of the metallurgist. This may have been most natural, especially with the lead metallurgist, the development of whose art was so entirely in the custom smelting plant, where the metal contents of his ores were paid for in cash and therefore excessive metallurgical losses could mean nothing short of financial bankruptcy. The metallurgist himself was held to a personal account, in these smelting plants. It was the metallurgist who was accountable. In the concentrating plants, if undue losses occurred remodelling of the plant was discussed, but if there were excessive metallurgical losses in the custom smelting plant, a new metallurgist was considered as the remedy. For this reason the tendency was to adhere to recognized practice and to be wary of unusual methods, using the word unusual in the sense in which it is used in Article VIII of the Constitution of the United States, as to punishments and modes of death. This conservatism of the metallurgist was reflected as other branches of metallurgy were developed. We have heard of the wonderful development of flotation, but it had to be introduced over the dead metallurgical bodies of its opponents.

Jan 1, 1926