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By A. Wang

This paper defines the elements of a basic economic model for decision-making when considering a methane drainage system for an underground coal mine. A drainage system will require significant capital and operating expenses; hence the decision to utilize drainage must be made carefully. The model outlines the basic structure of decision-making and considers the costs and benefits when the methane is marketed and when the methane is vented to the atmosphere. The effects on mine safety and the dust levels in the mine are also considered, both in a general format and as economic variables. Sources of information for executing this decision-making are provided for an actual mine decision.

Jan 1, 1997

By Thomas W. Mitcham

A program of geological research in support of mineral exploration efforts is outlined. Specific goals are stated, approaches to accomplish their attainment are described, and the type of useful results to be expected are outlined. Because mineral exploration or prospecting has intensely practical goals, research in support of it must be applied research, applied to the problem of maintaining or increasing the discovery rate of the exploration effort. To attain research goals, attention to personnel selection, group structure, and program are critically important, and in about that order. A large percentage of the professional personnel should have had experience in mining geology or mineral exploration, and they all should be prospector-oriented. Structuring in the group should be at a minimum, with wide allowance for the kind of independent research which is essential to the nurturing of on-target creativity. The program should be field-oriented, and it should include a wide representation of those subdisciplines of geology which are applicable to mineral exploration. The types of results to be anticipated include improved or new conceptual models for various types of orebodies and their settings from which new ore guides can be derived, new exploration techniques, and the development of a knowledge bank for various aspects of the exploration effort.

Jan 1, 1968

By Brian W. Mackenzie

The paper addresses five questions concerning the economic of gold exploration in the western Canadian shield. Can historical footprints be used to project future gold prices for exploration planning? Experience suggests that gold price forecast are too clo ely tied to current market events to provide meaningful guidelines. What range of breakeven gold price will typically be required to ju tify gold exploration in Canada? Minimum price requirements. initially asses ed at $540 to $1080 per ounce, probably lie in the range of $480 to $760 per ounce (expressed in 1985 Canadian dollar). Within Canada, what role do regional conditions and taxation policies play in determining the viability of prospective gold exploration targets? Striking interprovincial differences are found to exist, given the same geological circum tance -Nova Scotia, ew Brunswick, and Quebec rank towards the top in term of motivating exploration, Briti h Columbia provides the least investment incentive, while Saskatchewan and Manitoba place around the middle of the Canadian league. How can minimum acceptable tonnage-grade conditions for gold targets in the western shield be established and, then, constructively applied to provide exploration planning guidelines? Minimum target conditions, realis tically defined in terms of a broad band of doubt, can be used judiciously to help balance the direct costs of uneconomic exploration with the opportunity costs associated with rejecting economic deposits. How does the average cost per ounce of gold discovered in the western shield compare with the overall Canadian experience? Average discovery costs for the we tern shield, apprai ed at $100 per ounce, are shown to compare favourably with the Canada-wide record.

Jan 1, 1986

Who is CIBC? ? Canadian Imperial Bank of Commerce (?CIBC?) is a leading North American financial institution. ? Total Assets: US$315 billion ? Market Capitalization: US$29 billion ? CIBC comprises three strategic business lines: ? CIBC Retail Bank ? CIBC Wealth Management ? CIBC Wholesale Bank ? CIBC Wholesale Bank is a leading North American investment bank with niche capabilities in Asia, Australia & Europe. ? 1,000 + employees around the world ? Product range includes: Mergers & Acquisitions advisory and financing, Equity and Debt issues, Merchant Banking and Strategic Lending ? CIBC is ranked as the #1 investment bank in Canada across most of its key products and industries ? #1 Equity Underwriter in Canada ? #1 Mergers & Acquisitions Advisor in Canada

May 1, 2010

By Thomas T. Read

THE benefits derived from stabilization of industry that might possibly be attained through some scheme of centralized economic planning have been much discussed of recent months, and opinions on the subject range from those who believe that some agency like the War Industries Board would be practicable to create and wholly beneficial in effects, to those who are equally convinced that none of the suggestions so far advanced are at all practicable, or likely to be productive of more of good than of evil. The discussion has been on the general topic, but-many of those who have written or spoken on it have introduced economic problems of the pinera1 industry; for example, Newton D. Baker, who referred to the coal industry in his address on economic planning at the Williamstown Institute of Politics on July 31, and then went on to say, "Industrial progress is made by the development of new things, but new things upset the equilibrium of any plan. Who could have planned the industrial effects of the development of the railroads, or the economic changes which you have seen attend the development of the internal combustion engine. Obviously, unless we are prepared to put world economics in a strait-jacket and, like the encyclopedists, write its full history on the theory that further progress is impossible, no such plan could be made for nations which are forging ahead as is entirely rational for nations which are still catching up."

Jan 1, 1931

By D. B. Sikka

Porphyry type copper ± molybdenum deposits typically occur in the Phanerozoic rocks and have been well documented. During the past two decades a number of porphyry type Cu ± Mo deposits which range in age from 1055 ± 35 Ma to 2970 Ma have been identified in the Precambrian rocks of Australia, Canada, China, Finland, India, Namibia and Zambia. Kalanjkhand porphyry copper deposit M. P., India which is estimated to contain 789 million tonnes averaging 0. 83 percent Cu (millhead-grade); 0.004 percent Mo; 0.2 gm/t Au; 6 gm/t Ag and a cap of 7.532 million tonnes of oxide are averaging 0.8 percent Cu. The economic potential of the expanded copper mining milling, smelting and refining complex to be built in the future at Kalanjkhand, which is the largest porphyry copper deposit discovered to date in the Precambrian rocks of the world is presented.

Jan 1, 1992

Carbon sequestration in planted forests provides an immediately available, low cost option to address the greenhouse impacts of coal mining and coal utilisation in a carbon constrained world. In addition, planted forests also offer the opportunity to address other environmental issues, particularly salinity and loss of biodiversity. Given salinity is characteristically associated with agriculture in the 500 to 700 mm rainfall belt, then where such forests can also produce commercial timber products, they offer the additional opportunity to establish new, diversified rural employment in both timber growing and processing. In the majority of Australian catchments affected by salinity, where rainfall is generally less than the 700 mm limit to conventional forestry, and where groundwater reserves are often saline, the objective of achieving economically viable forestry production presents a significant challenge. In 1996, Saltgrow commenced a collaborative breeding program to combine the salt and stress tolerance of E camaldulensis, with the growth rate, stem form and wood properties of the commercial species, E grandis and E globules. This program aimed to produce trees with the potential for commercial rehabilitation of saline landscapes. Results covering a range of site conditions from SaltgrowÆs network of over 100 trials around Australia are presented. The opportunity for commercial plantations integrated with agriculture in low to medium rainfall areas to address salinity and sustainability will be discussed. In addition, the significant potential for partnerships between land-rich, cash-poor farmers, catchment management authorities seeking to invest in public good projects that enhance environmental sustainability, and major carbon producing industries with either mandated or voluntary requirements to curtail net emissions will also be discussed.

Jan 1, 2005

By A. S. Bayne

WITH the great increase in the use of power-driven machinery in industry, and consequent large-scale operations, the hazards to which , workmen are exposed have become much more numerous than at the beginning of the century. This is especially noticeable in mining. In the past thirty years or so, improvements in methods of excavation and metallurgy have made possible the exploitation of deposits which would have failed to make ore in previous years. This improvement, together with the in-creased use of machinery, has facilitated the mining of tremendously greater tonnages with a marked decrease in unit cost of production. This 'speed up' in mining creates numerous problems demanding close attention of operators and necessitates careful prep;tratory planning, as well as diligent supervision of actual operations. Underground openings increase in size so fast, and all phases of mining, mucking, and transportation proceed at such a rate, that a short period of reduced vigilance on the part of operators . results in disaster, both from the standpoint of safety and economies. Happily, the challenge of increased hazards has been successfully met by a general application of the slogan 'Safety First'. Today, we have large manufacturing concerns devoted entirely to the development and production of safety equipment for the protection of workmen in various branches of industry. Machinery manufacturers, in co-operation with their mining customers, have included the best possible in foolproof devices in the manufacture of hoists, compressors, boilers, electric motors, and equipment of all kinds. Mining companies and private individuals spend thousands of dollars and devote a great deal of time to research with the single object of preventing accidents and combating miners? diseases. Governments throughout the world have written regulations into their statures for the protection of miners and operators. Staffs are appointed to enforce these laws and investigate accidents to ascertain means of preventing them for the future benefit of the industry.

Jan 1, 1938

By AIME AIME

AT the end of September, ' the metal-producing industries were almost prostrate, the production of fuels was largely curtailed, there was a fair degree of activity in general manufacturing, while retail trade was moderately good. Looking at industry on the whole, there was a large percentage of unemployment, the degree of which has increased, progressively, month by month since the beginning of 1921. There is the prospect of much destitution and misery this winter; yet while' in some, quarters, idle workers are already being fed from, commissaries; in other quarters profligacy; in "spending continues, unabated. Amid this confusion in conditions there is;' much that appears paradoxical, but in fact it is not so and indeed everything is running pretty true to form: Such activity in production as there is to be seen is mainly in textiles; - leather goods, foodstuffs, etc., i.e., consumption goods for immediate use. Even in hard times 105,000,000 people must buy a good deal of clothing and food. Besides this there is indispensable repair work and- maintenances. Thus, the good business of the year in white lead for painting. The chief uses for the metals, however, are in the production of capital goods, and except for occasional and special reasons nobody in his senses is capitalizing anything at present prices for labor. Hence several millions of men are idle. The impoverishment of Europe and the exhaustion of her credits adds to this by curtailing our export trade.

Jan 1, 1921

By Walter Renton Ingalls

IN SEVERAL papers and addresses during the past two years, I have dwelled upon some of the economic consequences of the war. The fundamental thought that I have sought to convey is that the world became immensely poorer by the war, not only in material wealth and population, but also in the psychology and morale of the people. I do not see how there can be any intelligent dissent from that statement. All the ideas of post-war prosperity were manifestly fallacious, manifestly fallacious from the outset. If there had been any truth in them it would have followed logically that a great war, with all its destruction of wealth, health and life would be a good thing. Therefore, let us have a great war every ten years or so. Such an idea would be both monstrous and absurd. Assuming then the acceptance of my premise, I have tried to show that the losses by the war could be made good in a short time, i.e., in a relatively short time, only by doing things a great deal better than formerly, and that the accomplishment of such a result called for greater transparency in industry, for industrial cooperation, for thinking in terms of industries as a whole, and for the greater exercise of engineering functions. All of this introduced, of course, the position and psychology of labor. I say frankly that I do not look for labor to contribute any constructive thought to the upbuilding. I neither expect it nor hope for it. This is a pity, for it could do so much for its own economic advancement if it would. However, it never has done so, but rather has benefited only from the exercise of the talents of the few, and the main hope now is to bring it into a passive state, dispelling the resistive fallacies that developed during the war. Let us briefly examine the nature of these.

Jan 1, 1921

By Victor Azbe

Azbe System of Controlled Calcination To obtain good and cheap lime there are certain fundamental requirements that need to be satisfied. These are : (1) Proper combustion of fuel and steady supply of heat to the kiln. (2) Proper heat distribution in the kiln. (3) Uniform drawing of lime through the several shaft sections. (4) Complete cooling of the lime and recovery of the heat. (5) Temperature control of the hot zone by economical means. (6) Ample draft to obtain high capacity. (7) Arrangements to facilitate operation. Figure 17 shows diagrammatically one of the smaller kilns, intended for large stone. Such a kiln can be supplied with gas from a centrally located automatic gas producer, or, as shown, from an integral producer located snugly against the kiln. These producers make very good gas and have a gasification capacity of either 10 or 15 tons of coal a day. The producers have water-sealed ash pits, a rather thick fuel bed that is conducive to the making of high-CO gas, and are under forced draft. No steam is used. Clinkering is prevented by admixing some spent gas from the kiln with the air. Coal feeding is from a coal bunker through spouts into the hoppers over the producer. This is done, at proper intervals, by manual operation of slides, but it is planned to install mechanical feeders. Central mechanical gas producers have the advantage of requiring little labour, but the blowing of soot is a problem, as also is the proper distribution of the gas among several kilns. In the case of integral gas producers, soot from the centre burner is blown back into the producer to be burned, and the supply of gas to the kiln is controlled by regulation of air to the producer. In large plants, the mechanical producer may be preferable, but in small ones, the integral producer is cheaper, better, and more reliable. The kiln shown in Figure 17 is suitable for both systems of gas supply. It will be noticed that there are no side gas burners. All gas enters the kiln through the centre burner in a manner that permits any desired amount of gas to be directed to any of the kiln sections by the aid of regulating slides.

Jan 1, 1946

By H. J. Struth

Conditions in the gasoline market undoubtedly influence the oil industry's general economic situation to a greater degree than perhaps any other single factor. No matter how efficiently the oil industry manages to conduct its producing operations, a drop in the price of gasoline exerts definite pressure upon the posted price of crude oil in the field. Efforts of the recent past have shown that profits from the producing division of the industry are closely tied in with the course of the gasoline market. When refinery gasoline prices are depressed, as they have been during recent months, it is utterly impossible for purchasers to maintain a crude market that is commensurate with the cost of production, regardless of how well balanced the producing situation may be. In fact, the producer can no longer regard his operations in the light of an independent unit of the oil industry, since his financial well-being is directly dependent upon the well-being of the refiner. Because gasoline is the principal constituent of crude oil, it is obvious that profitable refining operations can only be maintained through profitable gasoline markets. Likewise, when the price of gasoline influences a profit for the refinery it also influences the prosperity of the producer, through the advent of higher and more profitable posted prices for crude oil in the field. Financial results for 1932 showed material improvement over the preceding year, primarily because the price of gasoline was maintained at levels somewhat above those of 1931. Consequently, the producer was able to record improvement in the crude market, through a somewhat higher level of posted prices. While effective methods of prora-t,ion of crude production are given credit for the advance recorded in the crude market last year, it is also a fact that the advent of higher prices for gasoline had a direct influence upon the posted prices of crude oil. For example, when gasoline was sold in Group 3 at 2 3/4 a gallon in June and July, 1931, the price of 36-gravity Mid-Continent crude was down to its lowest point of only 18c a barrel. As refinery prices advanced, however, there was a corresponding advance in posted prices of crude oil. Thus, when Group 3 gasoline commanded a price of 5c a gallon

Jan 1, 1933

By Sidney A. Swensrud

Much has been said and written about uneconomic and evil marketing practices in the oil industry, including such factors as loaning of equipment, price cutting and secret prices, commercial discounts, abuses of credit cards and coupon books, and so forth. It is not my purpose here to add to the discussion of those problems, but rather to attempt a discussion of some of the more basic factors in the general distribution economies of the industry. The economics of distribution in the oil industry cannot be regarded apart from the general economics of the industry as a whole. The attempt to regard them as separate has led many people into the fallacy of believing that the responsibility for the apparent evils in the marketing end of the business lay entirely at the door of the marketing end. Such a view fails to take cognizance of many underlying factors; we can only expect to understand the distribution economics of the industry if we understand its general economics. We must realize also that the oil industry today is essentially the gasoline industry. The oil industry may be said to have begun about 60 years ago. At the outset it was concerned chiefly with the manufacture and sale of kerosene, lubricating oils and greases. Gasoline was then a most obnoxious by-product. The early oil-marketing company was engaged almost exclusively in refining and marketing—it did not concern itself with production but bore the relation to it merely of a purchaser. It may be said that the urge of marketing development in those days, therefore, came from the refining and marketing end of the business. The raw material had not yet begun to exert its enormous pressure, nor had the producer of crude oil acquired a direct interest in the sale of the ultimate finished products. Since then great changes have taken place. With the development of the automobile came a vast new demand for the raw material from which gasoline could be made. No longer could the refining and marketing companies be indifferent to the source of that raw material, particularly in view of the pessimistic outlook then presented as to the probable quantity of oil in existence. And despite the complete overturning of those early estimates, made before the bounty of nature and the skill of

Jan 1, 1931

By Armando M. Lago

Secular and cyclical patterns of postwar sources and uses of funds of the mineral sector are analyzed. A simultaneous equation behavior model of sources and uses of funds is developed for both mining firms and integrated producers, and these models were put through the task of predicting the financial and expenditure be-havior of mineral corporations in response to mergers and changes in investment tax credits and depletion allowances. Finally, the quantitative analysis methodology is applied to the analysis of optimum capital structure of mining corporations. The postwar changes that have occurred in the expenditure and financial behavior of mineral corporations are reviewed, particularly the relative importance of factors that affect the industry's supply and demand for funds. This quantitative statistical investigation of factors affecting sources and uses of funds of mineral corporations is achieved through the formulation of a simultaneous equation model of sources and uses of funds. After a description of the study sample, the postwar cyclical and secular financial behavior of mineral corporations is analyzed in detail. An econometric model of mineral corporate financial behavior is formulated. This model is then estimated and reviewed. Policy issues regarding depletion allowances, investment tax credits, and industrial organization of the mineral sector are discussed. Finally, the optimum financial structure of mining firms is discussed and the effect of corporate financial structure on the mining corporations' average cost of capital is analyzed.

Jan 1, 1971

By S. Zekovic

"The paper gives an overview of the economics condition and strategic business challanges of the mining&metallurgy sector and their possible impact on the future development of the Bor basin of copper in Serbian part of Danube Region. Economics and strategic challanges in the mining& metallurgy complex are emphasized by world economic and financial crisis. An analysis of strategic challanges is undertaken by application of a comprehensive development framework approach. Paper indicates that an economics and evaluation of possible impacts of constraints and challenges for the development of Bor basin shows that it must be included in corporative decision, local and regional plans.INTRODUCTIONRisks are characteristic of every strategic development and business decision-making, so their successful management should be a part of the development strategy of the corporation, especially longterm. Due to the growing uncertainty in the general socio-economic environment, “risk management”, risk insurance, risk control, risk culture, risk optimization are frequently talked about. Among the key risks at a corporate level are the financial risks and risks of the regulative framework, especially in the field of environment and land use. In both cases, it is a question of external risks, which the companies need to relativize and successfully manage. Some companies pay more attention to production risks and search for better solutions in that domain which is not enough (Ernst&Young, 2008). Strategic business risks appear mostly on the macro-economic level, from where they should be” transferred” onto the level of sector economics and action level in corporations. Risk management include transferring the risk to other parts, avoiding the risk, preventing hazard, reducing the negative effect or probability of the risk, accepting some or all of the consequences of a particular risk.The research has included perspective and the general market trend and market positioning of the production and copper processing complex in the world; the impact of the requirements and strategic goals of the EU Directive and Kyoto Protocol on the institutional and other adjustments important for business in this sector; the impact assessment of the regulations important for business in the mining and metals sector, and case study of economics and challenges for the development of mining and metallurgy sector in the Bor basin of copper in Serbian part of Danube region. The analysis has included the identification and assessment of the global challenges on the future development of the copper complex in the miningsmelting basin Bor. Presented results in the paper are part of the research project “Sustainable spatial development of the Danube area in Serbia"" (No. 036036), financed by Ministry of Education and science of Republic Serbia."

Jan 1, 2012

By R. M. Quinlan

The coal industry in the United States has undergone significant economic changes during the past six years. The price of coal remained relatively constant from 1950 to 1969 (See Figures 1 and 2). Steam coal prices tripled and metallurgical coal prices doubled from 1969 to 1974. This price structure has created a new economic environment for coal preparation. Contributing factors to these price trends include: ? Coal Mine Health and Safety Act of 1969 ? Mid-East oil embargo of 1973 ? United Mine Workers of America contract agreements ? Productivity decrease (tons per man-day basis) ? Environmental Protection Agency regulations The increased value of coal justifies additional capital investment in cleaning facilities to optimize yield. Current trends include recovery of existing slurry ponds and recleaning of refuse. Coal preparation plant product yield and quality must be evaluated in terms of the amount of capital expended and cost of operation. Therefore, it is advantageous to optimize the plant product based on clean coal selling price and rate of return on investment.

Jan 1, 1976

By P. E. Cavanagh

Introduction A comprehensive study of the economics of processes for smelting iron ores has been made by the Ontario Research Foundation on behalf of the Ontario Research Commission. This survey has included investigations of all processes in commercial use, and proposed processes which are still in the experimental stage. The two main objects of this work were to discover (l) whether any known processes would be particularly suited to present and future Canadian conditions, and (2) whether any new process would be of assistance in solving the present scrap shortage in Canada. The future prospects of the Canadian iron smelting industry have changed radically in the past ten years. For nearly twenty years before 1939 no iron ore was mined in Canada. The ore used was imported, mainly from the United States and Newfoundland. The economics of iron blast-furnace smelting always force the location of blast furnaces near the source of coal for making high-grade metallurgical coke, and near the market for iron and steel, rather than near the iron ore. Blast-furnace installations in Canada are confined to the north shores of the Great Lakes with ready access to United States coal and ore and the major Canadian markets, and to Nova Scotia near the coalfields of that Province. This distribution of primary smelting capacity naturally results in relatively high prices for iron and steel in the West, the North, and in Quebec.

Jan 1, 1948

By J. K. Brooke

Fluorine is a lively element in both its chemical and economic behavior. It was not isolated as an element until 1886 by Moissan. However, its principal source to this day, fluorspar, was known and its special merits recognized long before that time. Our own mining brother, Agricola, is credited with having named fluorite, the mineral name, in 1546 from the Latin, "fluere", to flow. It made things melt and was already being used as a flux. Because fluorspar has been found as a relatively common gangue mineral in metal ore veins, it has long attracted the attention of geological thinkers seeking to, explain the whys and wherefores of veins. Fluorine has been thought of as one of the principal mineralizers, holding metals in ascending vein solutions for deposition close enough to the eventual surface to be accessible for profitable mining.

Jan 1, 1964

By W J. Dyck

Past attempts to establish an integrated steel industry on the West Coast of Canada have been unsuccessful for at least three reasons: (a) insufficient reserves of a suit-able iron ore supply; (b) a relatively small local market for iron and steel; and (c) the non-availability of an economical process to produce primary iron on a small scale. Today, the reserves of economically mineable ore deposits are ample to support a steel production of 100,000 to 200,-000 tons per annum. The local market has increased so as to be able to absorb most of this capacity. With-in the next few years, a small integrated steel plant, including the "H-Iron" direct iron ore reduction process for electric furnace charge stock production, will be able to show a profitable operation. Introduction

Jan 1, 1963

By E. C. Wright

FOR many years the cost of making pig iron and steel in the Birmingham district has been about the lowest in the United States. The close proximity of the important raw materials such as coal, iron ore, limestone, and the large available scrap supply made it possible to assemble all of the important ingredients necessary for steel- making with only nominal costs for transportation. Both iron ore and coal were being mined in this district at one time for about $1 per ton from underground operations. At that time mining wages were low everywhere and the labor rate in the South was considerably below that of other mining districts. This situation persisted until the emergence of labor unions as an economic and political force, emigation of southern labor to northern plants, and continued growth of industry in the South in the years following the depression of 1932. Since that time union organizing of miners and steel workers throughout the nation has increased labor costs in mining and steelmaking. This influence has been felt particularly in underground mining operations since the proportion of labor cost to total cost is still high. The previous advantage in basic labor rate in the South has been almost entirely eliminated by the equalization of labor rates in basic industries by national unions. Since 1945 these influences have been especially noticeable in increasing the cost of mining coal and iron ore in the South. The northern steel districts are still being largely supplied with iron ore from the Minnesota open-pit mines and the cost of this ore has not increased nearly as much as the cost of ore obtained from underground mines in Birmingham. A similar situation exists in coal mining; the thinner seams in Alabama are not so amenable to mechanization as the northern mines and, as a result, the output per man-day in southern mines is only about three tons of coal as compared to five or six tons per man-day in the large captive mines of West Vir-

Jan 1, 1950