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By J. B. Morrow

BITUMINOUS COAL production for 1937 up to Nov. 27, was 400,000,000 ions, an increase of 3.43 per cent over the comparative period in 1936. The in- crease in consumption, however, was not so great as the increase in production. Stocks of coal, mostly in the hands of consumers, on Nov. 1 were 57,000,000 tons, compared to 44,400,000 tons at the same periods in 1936. The prospects were that both production and consumption for December, 1937, would be lower than for the corresponding month of 1936. , Anthracite production for the period ending Nov. 20 was 43,900,000 tons, com- pared to 48,500,000 tons for the corresponding period in 1936, or a decrease of 9.5 per cent. Production of mechanically loaded coal in. 1936 was approximately 57,000,000 tons, an increase of 17.5 per cent over

Jan 1, 1938

By C. A. Gibbons

AFTER nine years of extremely de- pressed business, marked mostly A with red ink on the balance sheets of most coal companies and with an increasing internal competitive struggle for diminishing markets, somewhat of a change appeared during 1939. Shipments increased and prices generally firmed, giving the coal industry increasing optimism and encouragement for the future. Specifically, it now appears that bituminous coal production for 1939 will approximate 378,000,000 tons, and anthracite production will approximate 47,500,000 tons, bituminous production being around 14 per cent ahead of 1938 and anthracite production 12 per cent better. The curve on p. 31, showing both bituminous and anthracite production, furnished by the bituminous coal division of the Department of the Interior, shows graphically most of the 1939 monthly production and clearly illustrates the increased production.

Jan 1, 1940

Banks' focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers' approach by: ò outlining the fundamental difference between banks' and investors' risk / return profiles. ò describing lenders' consequent use of cash flow methods in mineral valuation. areas. explaining lenders' specific treatment of key risk Fundamental to understanding banks' appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks' principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders' risk / return position is outlined.

Jan 1, 1994

By Lucien Eaton

The mining methods described in this paper are those used in a large mine producing hard specular ore on the Marquette Range in the Upper Peninsula of Michigan. Although the conditions of mining are unique in this district, they are similar to those in many other districts, and information in regard to the methods used and the results obtained should be of interest. The methods now used are an outgrowth of those of former years which have been adapted to conform with improvements in mechanical appliances, changes in the wage scale and labor supply, and the' selling price of the product. The mine is situated' at Ishpeming, in the Upper Peninsula of Michigan, 16 miles west of Marquette, its shipping port on Lake Superior.

Jan 1, 1929

Since mid-July, most domestic producers have been marketing 99.5 percent unalloyed aluminum ingot at 53-57 cents per pound. Dealers in the United States have recently quoted ingot at 52.3-52.8 cents. On October 2, London Metal Exchange will trade aluminum, selling contracts on a cash and a 3-month basis. New York dealers were quoting August ingot at 52.3 52.8 cents. The Bonneville Power Administration announced that, effective December 20. 1978, electric power rates charged primary aluminum producers in the Pacific Northwest would be increased The increase (equivalent to about 4 cents per pound of aluminum produced) will raise the average rate to about 8.7 mills per kw-hr compared to 3.2 mills per kw-hr.

Jan 1, 1978

Future metal prices play a direct role in both the economic evaluation and short to medium planning of a mine scheduling sequence. It is difficult to predict with accuracy the future price of volatile metal commodities, however, it is possible to fix some future metal price, outside of long term contracts by the selling of futures contracts through a commodities exchange. The futures contract represents a fixed amount of a speci- fied quality of a commodity for future delivery at a predetermined price. Several different types of hedginc are possible, one in particular which is best suited for mining companies. There are relative advantages and disadvantages when trading in futures contracts and particular reference is made to gold contracts on the Sydney Futures Exchange.

Jan 1, 1980

What is your assessment of the mining industry as we near the end of the 20th century? As it always has, the industry is continually changing. The recent rate of change has been hectic. Many mining-related commodities are selling at low prices. These include gold, silver, copper, coal and soda ash, to name a few. Lower prices place pres- sure on mining companies to increase efficiency through productivity, down- sizing or mergers. The short- term effect of this situation may adversely affect the individual SME member. But the long- term benefit is to build a stronger, more productive and internationally competitive mining industry. In addition, most of these metals and minerals have been historically cyclical in nature, and prices will rebound.

Jan 1, 1999

By E. C. Winegartner, A. A. Ubbens

The company attempting to sell coal to large utility plants is faced with a confusing array of quality parameters and specifications which are often poorly understood by both the utility company and coal supplier. While these specifications are placed on the coal by the utility company, many of them originate with the boiler manufacturer who must guarantee that his product will perform satisfactorily on the design coal. A proper understanding of these parameters by both the coal supplier and utility company can lead to a better understanding of their mutual problem. This paper brings together most of the parameters in common use today and attempts to show what the parameters mean to the boiler designer, particularly in the area of boiler slagging and fouling.

Jan 1, 1977

By W. E. C. Eustis

During the last year I had occasion, on behalf of our New York copper works, to send to various chemists samples, intended to he accurate, of material which we were buying and selling, and I was astonished to find what differences were reported. After talking over the probable reasons for this with a number of chemists and metallurgists, it was suggested that it would be of real use and some scientific interest to send samples to the different chemists, and take such care in making up the samples that we could feel sure that each chemist had as nearly identical a sample as it was possible to make. After some consideration it was determined to send a mixture which should carry about 50 per cent. copper, and

Jan 1, 1883

By T. S. Mohibatsela, R. V. Ramani, C. V. Manula

The Mineral Engineering Department of The Pennsylvania State University has developed a suite of computer models for anthracite open pit mining (Fig. 1)1 Individual sub-systems have been developed to (a) interpolate geologic field data to obtain coal tonnages, waste volumes, and strip ratios; (b) simulate equipment performance on selected pit profiles to generate data required to choose coal and waste removal equipment; and (c) evaluate selected cost factors to determine either a rate of return for a specified selling price or vice-versa. This paper describes the application of two of these subsystems, namely, the Reserves Model (GEOL) and the Open Pit Materials Handling Simulator (OPMHS), and how these may be applied for the selection of equipment for a prime anthracite mining site.2

Jan 1, 1981

By Northcutt Ely

This chapter deals with the systems of laws by which governments regulate the exploration for and production of the minerals within their jurisdictions. It is a summary, restricted by necessary space limitations, of material assembled by the author for a publication of the United States Bureau of Mines, "Summary of Mining and Petroleum Laws of the World," (Information Circular 80 1 7, 196 1. ) The present study is organized in three parts, dealing with (1) the historical background of these legal systems, (2) laws of the United States, and (3) laws of other countries of the world. The reader's attention is invited to the acknowledgments at the end of the chapter, which inadequately express the appreciation due those who have assisted in the collection of this material. Part I. Historical Development of Major Western Systems of Land Tenancy with Respect to the Ownership and Control of Minerals The use of metals in primitive societies was largely confined to the manufacture of weapons for self-preservation. The ruler's control over copper, then bronze, then iron, was essential to maintenance of his own ascendancy at home and his group's position against neighbors who had access to similar metals. Ancient societies were thus characterized by the ruling group's ownership of minerals and metals. The Egyptian civilization, which emerged in the fourth millenium B.C. upon the agricultural subjugation of the lower valley of the Nile, was responsible for extensive development of the upper valley as a source of mineral wealth. The production of gold during the height of that civilization has been estimated at $30,000,000 per year, thus equaling the early placers of California and Australia. The mines of Egypt were the property of the Pharaohs and were controlled at their direction. Greek mining developed a different scheme of land tenancy which more closely resembled modem concepts. Development of mineral resources was

Jan 1, 1964

By Elmer W. Pehrson

Minerals have played a prominent role in the affairs of man and nations since time immemorial but with the advent of the industrial revolution, expanding use of the products of the mineral kingdom became synonymous with the material progress of mankind. Individuals and business groups have recognized this fact so have been aggressive in searching for and utilizing mineral resources, with notable success. Indeed, their achievements are primarily responsible for the present Machine Age. On the other hand, until recently the body politic has failed to grasp fully the essentiality of minerals although, at times, access to mineral supplies has been an important factor in the political maneuvers of nations. This chapter is concerned primarily with the broader political and economic relationships of mineral resources to the world economy, and with the internal and external actions of nations in the field of minerals. Many factors that condition the mineral economy of regions and the world as a whole, influence the internal and external affairs of individual nations. The more important of these are: 1. The nature of man's dependence on minerals. 2. The problems resulting from the unique characteristics of mineral occurrence. 3. Geopolitical concepts. 4. Minerals and world power. Actions of individual nations affecting their mineral economy seek two basic objectives: 1. Attainment and maintenance of prosperity. 2. Military security. Other objectives may be cited but on careful analysis they become integral parts or extreme phases of the two points noted above. For example, the twentieth century aggressions of the USSR, Germany, Italy, and Japan might be considered as direct bids for world power but they also can be interpreted as exaggerated or mistaken efforts toward military security and peacetime prosperity. Similarly, trade barriers, nationalization of industries, foreign exchange manipulations, taxation, monopolistic prac-

Jan 1, 1964

By Northcutt Ely, Charles F. Wheatley

This chapter deals with the systems of laws by which governments regulate the exploration for and production of the minerals within their jurisdictions. It is a summary, restricted by necessary space limitations, of material assembled by the author for a forthcoming publication of the United States Bureau of Mines, "Summary of Mining and Petroleum Laws of the World." (Information Circular, 1959.) The present study is organized in three parts, dealing with (1) the historical background of these legal systems, (2) laws of the United States, and (3) laws of other countries of the world. The reader's attention is invited to the acknowledgments at the end of the chapter, which inadequately express the appreciation due those who have assisted in the collection of this material. Part I. Historical Development of Major Western Systems of Land Tenancy with Respect to the Ownership and Control of Minerals The use of metals in primitive societies was largely confined to the manufacture of weapons for self-preservation. The ruler's control over copper, then brass, then iron, was essential to maintenance of his own ascendancy at home and his group's position against neighbors who had access to similar metals. Ancient societies were thus characterized by the ruling group's ownership of minerals and metals. The Egyptian civilization, which emerged in the fourth millenium B.C. upon the agricultural subjugation of the lower valley of the Nile, was responsible for extensive development of the upper valley as a source of mineral wealth. The production of gold during the height of that civilization has been estimated at $30,000,000 per year, thus equaling the early placers of California and Australia. The mines of Egypt were the property of the Pharaohs and were controlled at their direction. Greek mining developed a different scheme of land tenancy which more closely resembled modem concepts. Development of mineral resources was

Jan 1, 1959

By Robert A. Miller

This computer program determines the price per ton of coal needed to obtain a profit of 12 percent discounted cash flow. From a predetermined equipment and manning list, the program calculates all costs and prints seven tables, Including the equipment and manning tables and the discount cash flow table. Forty-four of the input variables may be readily changed to study their effects upon the final price per ton of coal or upon individual cost items. The method is adaptable for any type of mining and with additions, for beneficiation processes. This program was written in Fortran IV for use on the IBM 11302 and with few modifications can be used on other computers.

Jan 1, 1971

By Thomas Gales

Longwall mining has a high potential for producing bulk production from a single face. Production is interrupted for a considerable time when it is necessary to move the equipment to a new block of coal. The frequency of such moves can be reduced by increasing the dimension of the block to be moved. Merely doubling the tonnage in a block to be mined may increase production by more than 21,000 tons per year. The time taken to move the equipment can be reduced by careful preplanning, industrial engineering analysis, and specially designed equipment. Reducing its move time from 30 days to five days can increase production by more than 25,000 tons per year. Increasing the panel dimensions and reducing the move time can give an increase in pretax profits of more than $600,000. A comprehensive bibliography is included.

Jan 1, 1977

This is the initial issue of STATE MINERAL SUMMARIES. This publication provides estimated data and summaries of mineral activities at the State level for 1988. Most of the estimates are based on nine months data. These summaries have been prepared in cooperation with State geological surveys or related agencies. Individual State summaries are published separately as State Mineral Industry Surveys and copies can be obtained from the appropriate State Activities field office.

Jan 1, 1989

By Harold Kennedy

Take a good look at this issue of Minerals and Materials. This is the last issue of M&M, as it has been known within the U.S. Bureau of Mines, that you will receive. Fifteen years after it was created to help cope with a growing worldwide mineral shortage, M&M is ceasing publication. In its place will be a bright, new publication called Minerals Today. Like its venerable predecessor, Minerals Today will be a bimonthly magazine that reports on recent trends and issues in the minerals and materials industries. It will be the Bureau of Mines' most frequent periodical presenting an overview of the entire field of minerals and materials.

Jan 1, 1989

By Frank D. Adams

The Island of Ceylon, which is one of the most beautiful possessions of the British Empire, has been an abode of man from the very earliest times. The Veddhas, a wild tribe of some 4500 people still living in the fastnesses of the jungle in east central portion of the island, are believed to represent a remnant of the oldest inhabitants of which we have any actual knowledge, but in the caves in which they live there are found the stone axes and other implements of Palaeolithic people who represent the first race of men who inhabited our globe, and of whom they may be, for all that is known, the direct descendants. About the fifth century before Christ there came the Aryan invaders, apparently from the north of India, who drove the Veddhas into the remote fastnesses of the jungle and developed the remarkable Singhalese civilization whose high character is demonstrated by the remarkable and very extensive system of irrigation works which they built up, and through which they made the island wonderfully productive. Great cities arose, some of which are believed to have had a population of over a million souls and whose temples and public buildings show that the people were accomplished architects and sculptors.

Jan 1, 1926

The Government of New South Wales has granted approval for Hunter Valley Aluminium Pty., Ltd" and Alcan Australia Ltd. to proceed with the building of an aluminum smelter at Lochinvar and the expansion of a smelter at Kurri Kurri. Construction of the smelters is expected to start as soon as the consortium is finalized in early 1982. The smelters are part of a plan to increase Australia's aluminum capacity fivefold to 1.5 million tons by the mid-1980's. CHILE Construction of a $61 million lithium carbonate plant in northern Chile will be started in early 1983 by Sociedad Chilena del Litio Ltdao Production is scheduled to begin in 1984 with an initial capacity of 6,350 tons of lithium carbonate produced from a brine deposit. The firm is owned 55% by Foote Mineral Company, of Exton, Pennsylvania, and 45% by Corporacion de Fomento de la Produccion-CORFO.

Jan 1, 1982

By T. R. Ellis

The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned. Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis. Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers.

Mar 1, 2002