Search Documents

By JO. E. SHERID

THE Dawson coal-mines are owned and operated by the Stag Canon Fuel Co., of which Dr. James Douglas is President and E. L. Carpenter general manager. The property is situated in Colfax county, N. M., and the openings now in operation are in townships 28 and 29 N. R. 20 E., and township 28 N. R. 21 E., shown in Fig. 1. The mines are part of the southern end of the Raton coal-field, which extends north into Colorado and embraces many coal-camps of the Trinidad section. II. GEOLOGY. Geologically, the coal-measures, commonly known as the Laranmie series of the Cretaceous system, have a thickness of about 800 ft. in the vicinity of Dawson. The coal makes an excellent coke, and, according to some authorities, its coking properties are clue to the action of intruded sheets and sills of igneous rock, the sheets occasionally thickening into masses resembling laccoliths, at such places making nearer approach to the coal and sometimes producing small areas of natural coke. There are but few dikes through¬out the entire southern portion of the field and little or no faulting along the dikes. In some parts of this great coal-field the intrusive sheets are far removed in the green shales below the coal-measures, and are so much altered as to be difficult of identification. There is but little disturbance of the strata through¬out the Raton coal-field in as far as it extends into New Mexico. There are two workable seams in the coal-measures, and two or three smaller coal-seams, ranging from 1 to 2.5 ft. in thick-

Jun 1, 1909

By S Thomas, E Grimsey

Mining education in Australia has undergone another cyclical downturn over the past five years and several departments have been discontinued while others are still teetering on the brink of destruction. During this downturn Curtin UniversityÆs WA School of Mines (WASM) has managed to stay alive and well, but this has not been by accident. This paper outlines some of the strategies and experiences that have kept WASM in a strong position and offers hope to other departments and schools elsewhere that are still experiencing difficulty. This paper is also directed at all mining departments and schools that are certainly going to see it all happen again after the next mining boom turns to bust.

Jan 1, 2004

By Harald Ulrik Sverdrup, Anna Hulda Olafsdottir

The long-term supply of nickel to society was assessed with theWORLD7 model for the global nickel cycle, using new estimates of nickel reserves and resources, indicating that the best estimate of the ultimately recoverable resources for nickel is in the range of 650–720 million ton. This is significantly larger than earlier estimates. The extractable amounts were stratified by extraction cost and ore grade in the model, making them extractable only after price increases and cost reductions. The model simulated extraction, supply, ore grades, and market prices. The assessment predicts future scarcity and supply problems after 2100 for nickel. The model reconstructs observed extraction, supply and market prices for the period 1850–2020, and is used to simulate development for the period 2020–2200. The quality of nickel ore has decreased significantly from 1850 to 2020 and will continue to do so in the future according to the simulated predictions from the WORLD7 model. For nickel, extraction rates are suggested to reach their maximum value in 2050, and that most primary nickel resources will have been exhausted by 2130. After 2100, the supply per capita for nickel will decline towards exhaustion if business-as-usual is continuing. This will be manifested as reduced supply and increased prices. The peak year can be delayed by a maximum of 100 years if recycling rates are improved significantly and long before scarcity is visible.

Jan 26, 2021

VOLUME III The objective of Volume III of this report is to provide a concise review of six major types of legal constraints, controls, and regulations on surface coal mining in the United States, as of January, 1976. At the same time, an attempt is made to format the details of federal and state exploration, mining, and reclamation regulations such that point-by-point comparisons can be made and updated as revisions occur. Thus, Volume III should provide both an executive overview and a user's manual of legal controls of surface coal mining.

Jan 1, 1976

By Gordon Bath

During the summer of 1946, the Division of Geophysical Exploration of the U.S. Bureau of Mines established several primary magnetic base stations near important iron-producing districts in Minnesota, Michigan, and Wisconsin. Stations were located in groups of four to six in six separate base-station areas, and each position was marked with a concrete monument. Differences in magnetic intensity between stations in these areas, as well as the difference between each area and a magnetic datum at the magnetic observatory of the Coast and Geologic Survey at Cheltenham, Md., were measured with a modified Askania magnetometer. Measurements also were made with a Hotchkiss superdip to study the usefulness of the stations for the calibration of instruments of this type. The work was planned and supervised by F. W. Lee, chief of the Division of Geophysical Exploration, and Edward F. Fitzhugh, Jr., chief of the Minneapolis Division of the Bureau of Mines. Special mention is due Harold B. Ewoldt, Bureau of Mines engineer, for his assistance in the field work, especially in locating and establishing monuments. Special mention also is due Clyde L. Holmberg, of the Bureau of Mines, for the magnetic measurements made with the Hotchkiss superdip. Helpful suggestions were received in the field from H. L. James, of the U. S. Geological Survey. Acknowledgment is made of the cooperation of Stephen Royce, Irving E. Beckwith, Arthur Johnson, and Josiah Royce of Pickands, Mather & Co., and A. E. Matson, of Butler Bros. The U. S. Coast and Geodetic Survey furnished daily magnetograms from the Cheltenham Magnetic Observatory as well as calibration equipment and values of absolute magnetic intensity. Short-term forecasts of ionospheric conditions were obtained from the National Bureau of Standards.

Jan 1, 1951

By C. H. Mathewson

CONSIDERABLE progress has been made during the last few years in analyzing the action of plastic deformation in metallic crystals. This is due largely to the development of X-ray spectrographic methods for studying changes in the orientation of single crystals, or of conglomerates, as they occur during the process of plastic deformation, but partly to the widespread knowledge of suitable technique for preparing large (single or variously combined) crystals for direct crystallographic observation under stress or in various conditions of strain. These two methods of studying changes in the crystalline structure of metals may of course be used in conjunction with features of mutual support, but unfortunately the advantage of direct crystallographic observation is lost when we proceed to the study of severely cold-worked structures, owing to the occurrence of real or apparent crystalline discontinuities which become more and more complicated as the amount of plastic action increases. Furthermore, the X-ray methods do not appear to be adequate, at least in their present stage of development, to fix definitely the character of structural alteration in the parent crystal lattice by plastic deformation. The principal question at issue concerns the nature of the crystalline particles that remain after plastic deformation. These are generally known in our American metallurgical literature as crystalline fragments,' and they seem, indeed, to diffract as individuals causing the Hull pattern of a severely cold-worked metal to resemble the pattern of a fine powder,2 with certain features of preferred orientation among the particles deter- mined by the manner and intensity of cold working. We must freely concede that there are conceptions of lattice alteration, apart from that of simple fragmentation, which would account for an increasing number of lattice positions according to X-ray spectrographic observation as the degree of deformation increased.

Jan 1, 1927

In this study, the flotation performances of ethoxycarbonyl thionocarbamate (ECTC), dialkyl thionocarbamate (DATC) and xanthate copper sulfide collectors are compared by the structure-reactivity relationship using generalized perturbation theory and density functional calculation at the B3PW91/6-31G(D) level. The electron-donating power of xanthates is strong and, therefore, xanthates can strongly react with metal cation on the surfaces of copper and iron sulfide minerals through the formation of normal covalent bonds. This explains the poor selectivity of xanthates and also the high pH levels (above 13) required for the flotation separation of copper/iron sulfide minerals. DATCs are more selective for copper sulfide flotation, particularly against gangue iron sulfides. Although less powerful than xanthates, DATCs can perform copper/iron flotation separation at lower operating pH (commonly at pH levels below 11.5). ECTCs use an ethoxycarbonyl replacing an alkyl N-substituent in DATCs. The presence of the ethoxycarbonyl group effectively changes the functional group of collector from -C(=S)NH- to -C(=S)NHC(=O)-. The strong electron-withdrawing ethoxycarbonyl group adjacent to the C=S group decreases the electron density of the sulfur atom, which improves ECTC?s selectivity against iron sulfide minerals at slightly alkaline conditions. The lowest unoccupied molecular orbit (LUMO) of ECTC, which is constituted by the pz-orbit of every atoms in the conjugate -O-C(=O)-N-C(=S)-O- group and which is pleased with accepting richly d-orbital electrons (feedback electrons) from the (t2g)6(eg)3Cu(II) or t6e4Cu(I) configuration of copper cation on the surfaces of copper sulfide minerals, resulted in the formation of dative p-bond. The iron atom, which has a (t2g)6Fe(II) or (t2ga)3(ega)2 Fe(III) configuration on the surfaces of iron sulfide minerals (Fe(III) is the predominant composition at alkaline conditions), has difficulty in offering its d-orbital electrons (feedback electrons) to ECTC?s LUMO. ECTC collectors are powerful for copper sulfide minerals and very selective against iron sulfides, which has been further confirmed by UV spectra and bench-scale and industrial-scale flotation tests.

Jan 1, 2008

By J. M. WADSWORTH

The purpose of this bulletin is to describe the methods of constructing and operating representative types of plants in the United States used for removing the light hydrocarbons from petroleum by continuous distillation, such plants being commonly known in the trade as topping or skimming plants. In the discussion of each plant an endeavor has been made to arrange the text similarly in order to facilitate comparison and to emphasize the important features. The various experimental values for the specific and the latent heats of the oils apply approximately to the oil treated. Careful experiments with each oil and its commercial fractions were not justifiable in view of the purpose of this report. It is regretted that limitations for recording data at the different plants made impossible the determination of a heat balance for each, which would have provided an equitable method of comparing efficiencies. The writer has confined himself to a comparison of the relative efficiencies of the distilling apparatus alone by the following method: Effi . f till d tt" _ Heat theoretically required. ciency 0 SIS an se mgs - Heat content of fuel consumed. The plants described are all in California where the topping industry has had its growth accentuated by the character and the use of the oil handled. The scarcity of suitable coal made the adoption of other fuel necessary, and the heavy oil of California supplied the need. To raise the flash point and to dehydrate this oil, various plants have been developed. However, the topping industry is represented in other fields; the Roxana Petroleum Co. of Cushing, Okla., and the Warner-Quinlan Asphalt Co. of New Jersey, are operating Trumble plants, and Texas and Oklahoma operators have been experimenting with different pipe retorts for continuous running. In addition to the reasons for topping cited above, in California topping has other purposes which give the plants practically a universal field in the oil industry. These additional purposes are (1) to remove the lighter constituents of the oil prior to storage for a long period, thus reducing the losses from evaporation, (2) to dehydrate and clean the oil, and (3) in conjunction with a complete refinery, to remove the lighter fractions cheaply and quickly, leaving a residue to be rerun for lubricants, coke, and other products. The reader in studying a plant for possible adaption to his own use should note that local considerations enter into the design and size of a plant. Several questions present themselves, as follows: 1. What type is suitable for the oil? 2. How much money is available for construction? 3. Will the volume of residuum be large enough for heat exchange with the crude? 4. Can the heat content of the vapors be used to reduce the cooling-water requirements? 5. What method will best recover the heat from stack gases? 6. Are the various pieces of apparatus adequate in size and best adapted to their purpose? 7. Is every possible provision made for the recovery of waste heat? 8. What products will be made, and what volume of each? 9. Is there provision for the recovery of light vapors? 10. Will the saving of fuel justify the capital and maintenance charges on the regenerative apparatus contemplated? It is regretted that information concerning the operation of topping plants with eastern and Middle West oils is not available. The writer carefully canvassed the Middle West, but did not find a plant where operation had progressed beyond the early experimental stages and reliable figures could be furnished. The reader will find fuel economy and heat recovery emphasized throughout the descriptions. The conservation of the available petroleum supply is of the utmost importance, and the Bureau of Mines presents this paper to encourage the hearty cooperation of operators to that end. The Baume gravity scale used throughout the report is that of Tagliabue with a modulus of 141.5 for conversion to specific gravity.

Jan 1, 1919

By Lloyd H. Banning

Crucible-smelting tests at the Northwest. Electrodevelopment Laboratory and a pilot-plant test on electric smelting of western phosphate rock for the Westvaco Chlorine Products by the Tennessee Valley Authority indicated that the small vanadium content of the rock is concentrated in the ferrophosphorus by-product of Phosphorus smelting. This research is concerned' mainly with recovering vanadium and phosphorus froth the ferrophosphorus produced from western phosphate rock. Exploratory tests were made of several methods of treating vanadiferous ferrophosphorus. Attempts to separate vanadium as a carbide dross by saturating molten ferrophosphorus with carbon were unsuccessful. Volatilization of phosphorus from ferrophosphorus was accomplished to some extent, both with and without addition of sulfur in several forms, but elimination of phosphorus was not complete. Brief testing in a small experimental converter on oxidation of vanadium and phosphorus; into a slag by blowing with air showed promise. A method that comprised fusing vanadiferous ferrophosphorus mixed with soda ash under oxidizing conditions gave encouraging results and was tested beyond the preliminary stage. A slag product of the fusion contained most of the phosphorus and vanadium as water-soluble sodium phosphate and. virtually water-insoluble sodium vanadate. After leaching the sodium phosphate froth the slag, the leach residue was reroasted with soda ash and salt. This roasted product was leached again with water to extract the vanadium.

Jan 1, 1951

By Jessie L. Bonner, W. Stephen Blomberg, Mark Leidig, Heather Hooper

Understanding the effects of the bench on ground motion can improve the design of cast blasts and achieve improved blast efficiency while remaining below vibration requirements. A new dataset recorded in September 2003 from a coal mine in Arizona has allowed us to examine the excitation of short-period Rayleigh-type surface waves from four simultaneously-detonated explosions in and below a topographic bench of a mine. The explosions were recorded on a network of over 150 seismic sensors, providing an extensive understanding of the ground motion radiation patterns from these explosions. We detonated two separate explosions (~3 tons and ~1.5 tons ANFO) in the deepest pit of the mine, thus the explosions were shot to solid rock. Within 25 meters of these two explosions, we detonated two additional explosions of similar explosive yields in a bench, thus these explosions were shot to the free face. Radiation patterns and spectral ratios from the explosions show increased amplitudes (by a factor of 1.5 to 2) at azimuths behind the bench relative to the amplitudes in front of the bench. We compared these findings to seismic observations from two ~1.5 million pound cast blasts at the same mine and found similar radiation patterns. Modeling of these blasts shows that the variations in ground motion are caused by the topographic bench as a result of 1) horizontal spalling of the rock falling into the pit and 2) non- linear scattering near the free- face. We also note that shooting to a buffer (previously blasted rock) causes the azimuthal variations to be significantly reduced.

Jan 1, 2005

By J. R. Thoenen

In June 1929 the Bureau of Mines issued a 13-page information circular entitled "Mineral Wool," which was one of the first publications to present to the public Rome technical aspects of the mineral-wool industry. Since then several articles on the subject have appeared in the technical press as well as in publications of State organizations. Inquiries for information on mineral wool have continued to be received by the Bureau of Mines in large number, and in 1935 it was decided to make a field survey of the plants then producing and to collect therefrom technical data to be compiled in a paper for nubile distribution. With the cooperation of the industry, this survey was made, and Information Circular 6984, Mineral Wool, was published in January 1930. The issue was exhausted after a few months, and requests for copies continued to come to the Bureau. As opportunity arose, further field studies were made in American as well as Canadian plants. The present circular contains the essential information in Information Circular 6994 together with date from later field studies.

Jan 1, 1939

By J. W. Langford

A more effective method of fracturing and chipping the formation is necessary to significantly increase the productivity of blasthole drilling with a roller cone bit. The conventional rotary blasthole bit engages the formation and initiates spalls, chipping and fractures in the formation at a rate dependent on the amount of pull down force applied by the drill. The rotary speed of the drill increases the number of fractures and creates drilled chips that are removed from the hole by the air circulation. An engineering project was motivated to develop a low pressure, low impact downhole percussion hammer to provide an overstrike force to a blasthole bit, in addition to the conventional pull down force and rotary speed. The objective of the project was to utilize existing rig air packages in the range of 50-110 psig and provide an overstrike force to the bit in the range of 1100-1500 impacts per minute. Laboratory testing performed on Barre granite achieved, on average, a 40% improvement in rate of penetration. This performance has been confirmed in actual blasthole drilling in copper and iron ores mines. During the testing phase, additional unexpected benefits have also been realized.

Jan 1, 2011

By Pedro Lilienfeld

This report describes a program to develop, design, fabricate and subject to environmental testing three prototype collection-sensing devices of an eventual mining-machine mounted automated monitor for the measurement of the respirable fraction of coal mine dust to determine both short-term as well as average mass concentrations over typical 8-hour shifts. The design of this instrument is based on collection by filtration and mass sensing by beta-radiation attenuation. The emphasis of this development program was to evolve a rugged, stable and reliable collection-detection head compatible with the environment to which An eventual monitor will be subjected. Laboratory testing of this prototype instrument was performed over a representative range of temperature, humidity, dust concentration and composition, shock and vibration. The results of this testing program indicated that the operation of the prototype version His compatible with these environmental conditions and that further development of this configuration into a field operational device is justified.

Jan 1, 1977

By Lees M. G, Vitnell B. W

The post-war need to increase coal production promoted an intensive drilling campaign. Ineffectiveness in core recovery inclined the coal industry towards percussion drilling rather than diamond drilling. The Joint Coal Board, recognising the greater potential of core drilling, has actively encouraged improvement in techniques and equipment. One outstanding need was a barrel which, over and above other improvements being achieved, would permit recovered core to be examined before it had been subjected to the increased fragmentation and displacement which to date has been inevitable except in core which has been drilled in solid sticks û as New South Wales coal rarely can be drilled. In conjunction with Triefus Pty Ltd a barrel with a split inner tube has now been evolved, as a result of which, core can be more accurately logged, division in to lengths for analysis more aptly made, any core loss more reasonably allocated to appropriate plies, and a greater percentage of core recovered û of the order 95 per cent and more. The one half of the split inner tube is lifted from the other and the logging completed before the core is disturbed.

Jan 1, 1957

At the Prospectors and Developers Annual Convention (PDAC) in Toronto, Canada mining and exploration companies of all sizes were on hand to discuss the year that was and those that will be. The following is a look at some of the companies with Canadian operations that were on hand for PDAC 2009. Iamgold Corporation is a leading mid-tier gold mining company producing approximately 31 t (1 million oz) of gold from seven mines on three continents. With record revenues of $870 million ? up 28 percent when compared to 2007 ? the company is focused on growth with a target to reach 56 t (1.8 million oz) gold production by 2012. During 2008, the company acquired the Essakane project in West Africa. The project is fully permitted, under construction and will contribute more than 9.3 t (300,000 oz) of lower cost production by late 2008. Iamgold increased its reserves by 55 percent, to 385 t (12.4 million oz) and its resources in-creased by 16 percent to 821 t (26.4 million oz) in 2008. Going forward, Iamgold has three areas of focus ? West Africa, Guyana Shield and Quebec ? with seven gold operations, five advanced projects and the Niobec niobium mine included. The Rosebel Mine in Suriname is Iamgold?s fl agship property. With measured and indicated resources of 300 t (9.6 million oz), it accounts for 30 percent of Iamgold?s production. Production there was up 20 percent compared with 2007 and further production increases are expected in 2009 and 2010. Mill expansion and optimization increased throughput from 8.9 Mt/a (9.8 million st) to 10 Mt/a (11 million stpy). In West Africa, Iamgold has joint ventures at Sadiola in Mali; Tarkwa in Ghana; Yatela in Mali and Daman in Ghana. Iamgold also has 100 percent ownership of the Mupane gold mine in Botswana and the Doyon gold mine in Quebec, Canada. Also in Quebec, Iamgold has 100 per-cent ownership of the Niobec niobium mine in Quebec. Niobium is used in high strength specialty steels.

Jan 1, 2009

By J. C. Huyhua

The effect or various oxidants on gold and silver dissolution in thiourea solutions (0.05 M in H2SO4) was studied using the rotating disc technique, a.t 2s c and 600 rpm. These studies were carried out at constant (4:1) initial molar ratio or thiourea to oxidant concentrations, to produce 50 % thiourea. oxidation. The initial dissolution rate of gold was approximately four times higher in the presence. of ferric sulfate (5.37 x 10-3mg cm-2 s-1) than in the presence of hydrogen peroxide (H2O2), potassium persultate (K2S2O3), or monopersulfa.te (KHS06). The dissolution rates for silver were considerably lower than gold for the same oxidants. Oxidation of thiourea in the presence of peroxygen and persulta.te compounds is a. fast reaction and it is completed in less than ten minutes. On the other hand, the oxidation or thiourea with? ferric.sulfate is slow, yielding a second-order reaction rate constant k = 6.09 I mol-1 h-1. Sulfur formation in the ferric thiourea system begins when ferric ion reduction approaches to completion. With hydrogen peroxide, sulfur is observed at lower thiourea concentration than ferric. Suifate. The presence of a large excess or free thiourea i.e., s to 20 % thiourea oxidation) retards sulfur formation and maintains favorable dissolution rates. Finally, carbon-in-leach experiments indicate that thiourea solutions a.re stable for several days, with ferric sulfate or hydrogen peroxide. The dissolution rates of gold and silver doubles in the presence or activated carbon when hydrogen peroxide is used as oxidant.

Jan 1, 1989

THE 125th meeting of the Institute was held in New York, Feb. 20-23, 1922, inclusive, and was the most successful annual meeting of the Institute ever held; there was a larger registration, there were more sessions of importance, and a greater number of sessions, than in any previous year. The total registration was 1331, comprising 351 New York members, 393 visiting members and 587 guests. At the annual business meeting of the Institute, held on Tuesday, Feb. 21, with President Ludlow presiding, there was a much larger attendance than usual. The report of the tellers was read and the following officers were declared elected: Arthur S. Dwight, Director and President-District 0 J. V. W. Reynders, Director and Vice-president-District 0 A. R. Ledoux, Director and Vice-president-District 0 Charles F. Rand. Director-District 0 George D. Barron, Director-District 0 William H. Bassett, Director-District 1 Thomas B. Stearns, Director-District 8 William Kelly, Director-District 5

Jan 3, 1922

By Dirección General de Promoción y Sostenibilidad Minera del Ministerio de Energía y Minas

El artículo da cuenta de la situación del sector al 2019, año en el que pese al panorama adverso se superó la meta de inversiones con más de US$ 6 100 millones ejecutados. Se reportan asimismo las importantes mejoras efectuadas en la normativa minera para actividades de exploración, como son —entre otras— la ampliación por 3 años de la vigencia de la Ley N° 27623 y el adelanto de inicio del proceso de consulta previa para actividades de exploración. El artículo incluye la nueva cartera y el Mapa de Proyectos de Exploración Minera, actualizados a febrero 2020.

Feb 28, 2020

By Alexander N. Winchell

"Location. The copper mines of Michigan are all in the northern part of that state on the Keweenaw Peninsula, which extends from the (Michigan) mainland for about seventy miles northeasterly toward the middle of Lake Superior. The mines occur in a belt or zone occupying the central portion of the peninsula from end to end.. The most productive mines for many years past have been those located not far from the city of Houghton in' the central part of the zone, in a section extending about ten miles southwest of Houghton and fifteen miles northeast. The most important mines in order of location, from the northeast to south¬west, are the following: Mohawk, Ahmeek, Allouez, North Kearsarge, Wolverine, South Kearsarge, Centennial, Calumet. and Hecla, Osceola, Franklin, Quincy, Hancock, Isle Royale, Superior, Baltic, Trimountain, and Champion. The first three named are in Keweenaw county and all of the others are in Houghton county. Still farther to the southwest are the Lake, Mass, Adventure, Michigan, Victoria, and White Pine mines. These are in Ontonagon county.History. The exploitation of these copper mines extends back into prehistoric times. There is little evidence that the American Indians carried on mining operations in this region in the period shortly before the advent of white men, but there is abundant evidence that the ancestors of the Indians, •or some earlier inhabitants of the region, carried on primitive mining operations. For example, Mr. S. O. Knapp, Agent of the Minne¬sota Mining Company, in the winter of 1847-48, made the first discovery of prehistoric mining. This event is described as follows by Foster and Whitney :"

Jan 1, 1920

By H. O. Seigel, J. C. Gingerich, E. O. Köstlin

"To satisfy their continuing need to replenish or expand their ore reserves, mining companies are faced with the dilemma of arriving at a proper balance between the dual avenues of discovery through in-house exploration and of acquisition of properties that are relatively proven or are even in production. The returns from exploration activities may be spectacular, but are unpredictable. The allure of an acquisition lies in its promise of quick and risk-reduced addition to reserves. However, it is historically clear that quantum increments in shareholders’ values have arisen primarily through major exploration discoveries, rather than through major late-stage acquisitions. Late-stage acquisitions can prove highly profitable, sometimes based upon the planned use of superior mining or metallurgical technology, but more often occur as the result of unexpected windfalls. At the other extreme, they can become expensive failures through inadequate due diligence, or unforeseeable factors.Citing numerous case histories and industry statistics, it is concluded that a judicious combination of both exploration activity and the acquisition of prospects is the most advantageous strategy for adding new ore reserves. A skilled exploration staff is essential for success, be it through exploration discoveries or through opportunistic acquisitions, preferably at their early stages. In the future, it is anticipated that there will be fewer opportunities for acquisition because of reduced funding for junior exploration companies, leading to increased competition and higher costs for fewer properties, both in the advanced exploration and mining stages."

Jan 1, 2002