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By Keith Harris

The U.S. economy grew moderately in the second quarter of 1985 with real gross national product (GNP) recording a seasonally adjusted annual growth rate of 2.0%, up from the 0.3% growth of the previous quarter but significantly below the 7.1% growth of the second quarter of 1984 (table I). Personal consumption expenditures grew 5.3%, with purchases of durable and nondurable goods rising 7.4% and 5.1 %, respectively; nonresidential and residential fixed investment--the two components of fixed investment--grew 11.8% and 5.6%, respectively; and Government spending rose 3.6%. However, these gains were tempered by a major decline in the growth of business inventories (from $19.1 billion to $8.3 billion) and the continuing growth of the net export deficit (from -$28.4 billion to -$33.3 billion). While the high value of the dollar compared with other currencies has been a major cause of the expanding trade deficit, its value, as measured by the monthly Federal Reserve Board (FRB) multilateral trade-weighted dollar index, has declined over 17 index points from its February peak to 140.94 in July. The July dollar value was still high historically. The rate of inflation, as measured by the fixed-weighted price index for GNP, remained low at 4.1%, down from 4.3% in the first quarter, and employment continued to grow at a rate sufficient to keep up with new additions to the labor force. Civilian unemployment has remained steady at 7.3% over the past 6 months. Industry Statistics The FRB recently revised its index of industrial production and changed the base year from 1967 to 1977,1/ The revised total index shows a 0.1 % higher annual growth rate between 1967 and 1984 than the previous index. In the slower growing or declining industries, such as metal mining, primary metals, and fabricated metals, however, downward revisions in the indices and rates of growth have occurred. The previous and revised annual rates of growth between 1977 and 1984 for several of the sectors of interest to the mining industry are shown in table 2.

Jan 1, 1985

Andy H. Vassiliou – Introduction Ladies and gentlemen,.good evening and welcome to the Paul F. Kerr Memorial Symposium dinner. I believe we are all here to honor the memory of a great teacher and advisor, and a true friend -- Professor Kerr, or Dr. Kerr, or to most of us who were his students, "Pappy" Kerr. Most of us who attended the Paul F. Kerr Memorial Symposium earlier today at the New York Hilton had the opportunity to read, or listen to, or discuss scientific papers presented in honor of Dr. Kerr. In addition, all of the speakers had the opportunity to reminisce about their association with Dr. Kerr, who was credited as having contributed substantially to their graduate education and the development of their careers. Dr. Kerr's two daughters -- Ruth and Nancy -- who attended the Symposium at the Hilton are also here with us tonight. I think we should keep tonight's festivities on an informal basis since we are all old friends or former students of Dr. Kerr. Some of us may want to say a few words about our experiences at the time we were students at Columbia, and hopefully include some anecdotes relating to Professor Kerr. I would like to invite everyone to do so, but first we have arranged for two of us to be the lead speakers, whom I will introduce in a few moments.

Jan 1, 1985

By N. T. Lowe

This Bureau of Mines publication presents salient deposit information in abstract form on 119 principal mineral deposits in the State of Nevada. Commodity coverage addresses 17 critical and strategic commodities that appear to have commercial production potential in the State. The core of the deposits described is taken from those properties evaluated d under the Bureau of Mines Minerals Availability Program (MAP); additional deposits are included to provide a more complete coverage. Institutional and infrastructural factors affecting mineral development are also discussed.

Jan 1, 1985

By Robert L. Davidoff

INTRODUCTION The impact of taxation differs substantially from state to state in a complex fashion that depends on both the physical characteristics of a mineral deposit and on the price of the mineral commodity relative to its costs of production. A comparative analysis of the tax structures of eight states (Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wisconsin) showed wide variations in rates of return for any given type of mineral property, with no state having either the most burdensome or least burdensome tax structure under all circumstances. Three hypothetical mineral operations were analyzed: a producing open-pit copper property, a non-producing underground platinum operation, and a non-producing underground gold operation. None of them corresponds exactly to an existing property. Each of these property types is further defined to have ore feed grades at three different levels, leading to three potential profitability levels, referred to in this paper as "economic", "marginal" and "subeconomic". Thus the differential impact of state tax structures is measured for mineral properties of different types, as well as for different profitability levels. Montana is used as the base case. This study does not address the topic of corporate structures or tax consolidation. There are no costs assumed external to the operation of the deposit (e.g. exploration to locate additional deposits). Two types of analyses were performed for this study. The first calculates the total cumulative tax payments in each state using all applicable taxes (including U.S. federal income taxes and examines the resultant differences in discounted cash-flows rate of returns DCFROR's amoung the eight states. The second is a sensitivity analysis that examines each type of state tax separately (i.e. state income, property, and severance taxes) in order to isolate and examine the differences in tax payments that are due to the difference in rates and methods of computing specific types of taxes in each state. The results of this study serve to illustrate the complex nature of interactions among various taxes. For example, property tax is a deduction in calculating severance tax in some state. Changes in property-tax and severance-tax payments both enter into the calculation of state and federal income-tax liability. This, in turn, could change the timing and usage of tax-loss carry forward amounts and investment tax credits. Additionally, the physical characteristics of a property, the method and costs at which the mineral will be extracted, and the profitability level at which each property operates will affect tax treatment. Each mineral operation was evaluated at three different predetermined profitability levels, referred to using the terms economic, marginal and sub-economic. These three profitability levels are defined by the ore feed grades of the primary commodity that yield in constant terms, approximately an "economic" 18% DCFROR, "a marginal." 10% DCFROR, and a "sub-economic" 5% DCFROR, respectively, under the Montana tax structure. In the analyses, the mining and processing parameters for each of the three types of properties were assumed to be identical for each of the eight states. It was assumed that each operation produces at full operating capacity throughout its life. This implies the level of mineral commodity demand will support the inferred commodity price, such that each operation will be able to sell all its output. The analyses performed for this study were done using a comprehensive economic evaluation simulator that is used in the Bureau of Mines, Division of Minerals Availability MAS program to perform DCFROR analyses. All economic evaluations performed upon these data (see appendix 2) were in constant January 1981 dollars. By-product prices used for the analyses were: [Gold $425.00/troy ounce Palladium$200.00/troy ounce Silver $ 10.00/troy ounce] Typical cash-flow calculation layout is given in Appendix 3. The initial step for each evaluation is to define an "economic" profitability level scenario. An 18% DCFROR rate in Montana was considered the

Jan 1, 1985

1. Domestic Production and Use: In 1984, 12 companies operated 27 primary aluminum reduction plants, with 3 firms accounting for 57% of production. Washington, Oregon, and Montana accounted for 35% of the production; Indiana, Kentucky, Missouri, and Tennessee 25%; Alabama, Arkansas, Texas, South Carolina, and North Carolina 20%; other States 20%. Based on published producer prices, output of primary metal in 1984 was valued at $7.2 billion. Aluminum consumption by 25,000 firms was centered in the east-central United States. Packaging accounted for an estimated 35% of domestic consumption in 1984, transportation, 20%; building, 18%; electrical, 9%; consumer durables, 8%; and other uses, 10%.

Jan 1, 1985

By David J. Hoadley

This report describes the development and limited testing of a semi-automatic, raise climber, Compact Service Hoist System designed for stope access in underground metal and nonmetal mines. Demonstrated capabilities of the system include a 1,000-lb payload capacity, control from the traveling cage and from up to three remote stations, operating in vertical or inclined raises 3 ft in diameter and up to 300 ft in length and a travel speed of 50 ft/min. The system has the capability of operating in crooked raises because the conveyance climbs two stationary wire ropes suspended down the raise. The drive unit is electrically powered with power and control signals supplied to the drive unit through an umbilical 'cable also suspended down the raise. The system has been designed for portability, ease of installation and minimum raise development. The hoist has been demonstrated successfully in an above ground test tower. This report provides a detailed description of the hoist design and its demonstrated performance to date.

Jan 1, 1985

By Catherine C. Kilgore

The Bureau of Mines investigated the availability of fluorspar (CaF2) from 36 U.S. and 50 foreign mires and deposits in 13 countries. Only 6 U.S. properties are considered to be economic, as 29 domestic deposits were found to have an average total cost of production that was uneconomical at a breakeven (0-pct) discounted-cash-flow rate of return (DCFROR). The 50 foreign properties evaluated represent at least 55 pot of demonstrated fluorspar resources located in market economy countries and China. Al I evaluated foreign operations were found to be economic to marginally economic in January 1984 dollars when compared against published prices for each country. Reserves for 56 properties totaled 97 million metric tons (mt) (recoverable Ca F,) from demonstrated ore resources of 344 million mt that contained 123 million mt CaF2. The average total cost needed to cover all costs over the life of each operation was determined for all recoverable fluorspar products. Comparisons of ruining, beneficiation, and transportation costs per metric ton of fluorspar concentrate illustrate advantages between countries. Of the three countries with the greatest fluorspar production, China, with its high-grade, low-cost operations had the lowest weighted-average total cost of production ($38/mt concentrate), Mexico was next, at $54/mt concentrate, and benefited in U. S. dollar terms from the devaluation of the peso. The Republic of South Africa needed an average of $90/mt of concentrate to cover all costs of production at its large low-grade deposits.

Jan 1, 1985

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Jan 1, 1985

By Paul S. Goodman

This report examines absenteeism and accidents. The first section provides some background information on absenteeism. The second section examines trends in absenteeism in underground coal mines over time. The third section examines causes of absenteeism. Models were examined. The first model looks at self-report reasons for absenteeism. The second examines demographic correlates of absenteeism. The third model includes demographic and attitudinal predictors of absenteeism. The next section of the report examines the effect of absenteeism on accidents. The last section contains strategies for reducing absenteeism.

Jan 1, 1985

By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco&apos;s development of the Weipa bauxite deposits in Northern Queensland in the late 1950&apos;s, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960&apos;s, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA&apos;s interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt&apos;s is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor&apos;s balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor&apos;s activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER&apos;S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By H. E. James

Much has been said and written about the need to reduce South Africa&apos;s dependence on gold. To compensate for the decline in the country&apos;s foreign-exchange earnings resulting from the phasing out of gold, which must inevitably occur at some future date, a far higher priority will have to be placed on the mining, beneficiation, and export of the 59 other mineral commodities produced in South Africa. The basic strategy of the mining and metallurgical industries should be to move from the traditional approach of establishing a resource base to the establishment of a market base; to turn from production orientation to market orientation; and to rely less on exploration and economies of scale and more on process innovation and product development. The enthusiasm, entrepreneurial spirit, and commitment of the leaders in the mining and metallurgical industry will clearly be of decisive importance in the establishment of new industries for the beneficiation and export of added-value mineral-based products. The State can make a significant contribution by the provision of a welldeveloped and efficient infrastructure, including rail and harbour facilities, communications and health services, roads, and of electricity and water supplies. In our search for a new development strategy for the beneficiation and export of South Africa&apos;s minerals, we need to recognize that no one nation has all the mineralresources that it needs. Commercial and strategic manipulation of mineral supplies should no longer be tolerated. The future of the human species lies in international cooperation and in a greater understanding of the limitations of the world we live in.

Jan 1, 1985

By Robert T. DeGavre

INTRODUCTION The $645 million financing for Inco Ltd&apos;s Soroako nickel project in Indonesia not only represents a significant human achievement but also there are certain important lessons that can be derived from Inco&apos;s experience in financing the project. The paper will not present a technical assessment of the project since Inco Ltd. submitted a series of papers on this subject at the international Laterite Symposium as part of the 108th Annual Meeting of the AIME in February 1979. BRIEF HISTORY OF THE SOROAKO PROJECT Table 1 summarizes the milestones achieved in the Soroako project and its financing. Exploration Phase A contract of Work was signed on July 27, 1968 by the Republic of Indonesia and F.T. International Nickel Indonesia (P.T. Inco) covering an extensive area of over 25,000 square miles on the two southeastern arms of the island of Sulawesi. The Contract provides that P.T. Inco has the sole responsibility for financing the project and determining the terms on which the financing should be obtained, that P.T. Inco has the right to receive and hold outside of Indonesia foreign exchange revenues and to freely dispose of such revenues, and that Indonesians have the right to purchase up to 20% of the equity of P.T. Inco over a period following start of production. P.T. Inco began field investigations in the Contract Area in August 1968. Preliminary reconnaissance sampling with portable drills broadly outlined areas of favorable laterite terrain which were then systematically sampled on surveyed grids. By early 1971 sufficient exploration work had been completed to indicate that the laterite deposits near Soroako could sustain a major nickel-producing plant (figure 1). Pilot plant studies in 1970 and 1971 at Inco&apos;s research station in Port Colborne, Ontario, using two bulk samples of Soroako ore material, also confirmed that the ore could be upgraded and treated for the recovery of its metal values. Feasibility Phase Encouraged by the results of its exploration program and pilot-plant work, Inco Ltd. commissioned Toyo Engineering Company of Japan in August 1971 to prepare a capital cost estimate for a relatively small nickel project called "Stage I". Stage I was to be a single-line pyrometallurqical process plant with an annual capacity of approximately 15,000 metric tons of nickel contained in 75% nickel sulphide matte (see Figure 2). Electric power was to be supplied by a thermal power station. It is important to recognize that Inco&apos;s strategy was to develop the Soroako ore deposits in several stages: first, construct a small project to gain experience and to reduce the initial capital outlay and then later expand in one or more steps to a much larger project to achieve maximum economies. The strategy reflected both Inco&apos;s financial position in 1971 as its sales and earning dropped sharply and the difficulties previously experienced by Inco in trying to launch in the late 1960&apos;s very large "greenfield" nickel projects in New Caledonia and Guatemala. Toyo&apos;s Project Development Study was completed. in January 1972. Based upon Toyo&apos;s cost estimate for physical facilities, Inco estimated the total capital cost of Stage I to be $115 million. For the next several months, Inco ran numerous in-house financial feasibility studies, using as inputs Toyo&apos;s cost estimate and the results of its exploration and pilot plant programs. In September 1972, Inco completed a project feasibility study which was based upon a capital cost estimate of $135 million. The feasibility study was immediately made available to potential partners and lenders. Partner Negotiations The Japanese nickel market had from the outset been central to Inco&apos;s planning for the Soroako project. That market had been growing dramatically at rates in excess of 20% per annum during the 1950&apos;s and 1960&apos;s. Japan had established, for rational security and other reasons, a domestic

Jan 1, 1985

By Branch of Editorial Services

"The Bureau of Mines was established in the public interest to conduct inquiries and scientific and technologic investigations concerning mining and the preparation, treatment, and utilization of mineral substances; to promote health and safety in the mineral industries; to conserve material resources and prevent their waste; to further economic development; to increase efficiency in the mining, metallurgical, quarrying, and other mineral industries; and to inquire into the economic conditions affecting those industries. The organic act of the Bureau, as amended by Congress and approved February 25, 1913, made it the province and duty of the Bureau of Mines to ""disseminate information concerning these subjects in such manner as will best carry out the purposes of this Act.""In accordance with this directive, the Bureau reports the findings of its research and investigations in its own series of publications and also in articles that appear in scientific, technical, and trade journals; in proceedings of conventions and seminars; in reference books; and in other non-Bureau publications. The number of these reports, the wide range of subjects they cover, and the variety of mediums in which they appear make the kind of list and index presented in this special publication both necessary and valuable. This issue of the Bureau of Mines List of Publications and Articles describes reports and articles published during the period January 1, 1980, to December 31, 1984. It supplements the 50-year list of Bureau publications issued from July 1, 1910, to January 1, 1960;1 the 50-year list of articles by Bureau authors published outside the Bureau from July 1, 1910, to January 1, 1960;2 the 5-year lists of publications and articles from January 1, 1960, to December 31, 1964,3 from January 1, 1965, to December 31, 1969,4 from January 1, 1970, to December 31, 1974,5 and from January 1, 1975, to December 31, 1979;6 and the annual lists of Bureau publications and articles from January 1 to December 31, 1980,7 from January 1 to December 31, 1981,8 from January 1 to December 31, 1982,9 and from January 1 to December 31, 1983. 10"

Jan 1, 1985

By W. A. Gow, G. M. Ritcey, M. C. Campbell

"Uranium is a unique commodity. It is both a metal and a fuel, It has both commercial and military uses. It yields ""clean energy "" but presents environmental concerns. All of these factors have an impact on the commerce of uranium.Being a metal, uranium is extracted from ore like many other metallic minerals. As a fuel, it is subject to the vagaries of energy commodity market forces. The history of uranium in the first nuclear weapons has led to nation al governments carefully controlling production and sale of uranium. The spectre of radioactive contamination of the environment adds further to the public concern over the disposal of low-level radioactive wastes from uranium processing and use.There have been a number of excellent reviews on the commercial aspects of the uranium industry. In this discussion, these aspects will be briefly summarized to provide a general picture of the strengths of the Canadian uranium industry and the pressures to which it is being subjected currently. The principal thrust of this paper will be to outline Canada&apos;s resource strength and to identify some factors which will affect Canada&apos;s ability to continue holding a sizeable share of the world uranium market."

Jan 1, 1985

By James W. Stewart, A. C. Colvine

Introduction Precambrian shield terrains the world over are experiencing an unprecedented level of concerted exploration for lode gold deposits. Reasons for this include: • The increase in the price of gold (following 40 years at $1.13/g or $35 per oz) has transformed targets that were once unattractive into viable exploration propositions. • The relatively suppressed market for other metals produced from shields (base metals, nickel, iron, and uranium) has further focused exploration attention on gold. • The preeminence of gold production from rocks of early Precambrian age, as shown in Fig. 1. • The relatively high grade of gold in these mines (averaging about 10 Wt or 0.29 oz per st) permits profitable extraction even under depressed gold prices. A number of these mines have been in continuous operation for more than 50 years. • The recent discovery of the major Hemlo deposit, in well exposed rocks adjacent to the Trans Canada Highway, has had a world-wide impact. This demonstrates that a major new deposit can be found even in an accessible, well exposed area of a shield; gold mineralization is susceptible to rational exploration; and new target types for gold exploration exist. This paper reviews exploration activity for gold in shield terrains worldwide (Fig. 2), excluding Early Proterozoic paleoplacers of the Witwatersrand type. Emphasis is on the Archean, which is traditionally the most productive part of the Precambrian shields. There is also an emphasis on the Canadian shield (Fig. 3) because of its vast areal extent and exceptionally broad range of mineralization styles. Geological Approach A basic problem exists in gold exploration when compared to exploration for base metal massive sulfides that predominated during the 1960s and 1970s. Gold concentrations cannot usually be detected by airborne geophysical instruments. The majority of massive sulfide deposits were detected using airborne electromagnetic detectors and magnetometers. A full 75% of Canadian gold discoveries can be credited to surface prospecting. The percentage is even higher in other countries. This observation allows for great optimism for two reasons: • Large areas of shield terrain are obscured by either surficial deposits (glacial tills, clays, and desert sands) or deep surface weathering. This makes them inaccessible to prospectors. Logic dictates that such obscured areas should have the same potential for gold concentration as has exposed bedrock. • The Hemlo style of mineralization, a roughly tabular ore body where gold is associated with disseminated sulfides, is different from the traditional prospecting target. The gold is hosted by discrete quartz veins. While it is true that limited discoveries were made at Hemlo more than 30 years ago, and this style of mineralization is present elsewhere, recent

Jan 12, 1984

By Joseph R. Wojcik

Introduction Placer deposits account for one-half to two-thirds of the total gold produced worldwide. As many as 311 t (10 million oz) have been produced from some major districts. Several others are credited with 155 t (5 million oz). All the major districts and many lesser ones have similar characteristics. Consideration of these characteristics offers insight into the origin of gold in the deposit. Knowing the gold deposit&apos;s geologic history leads to useful conclusions in exploring for placer deposits and for deposits in consolidated areas. Placer Deposit Characteristics Table 1 lists 17 placer gold districts around the world and their characteristics. These include type and age of, mineralized source rocks, associated intrusive rocks, and age of intermediate sedimentary cycles. Although quartzite or sandstone occurs in the bedrock sequence in four of the 17 districts, slates, phyllites, or schists are present in all of the districts. Additionally, in all but three, the slates are pre-Mesozoic. And, in six of the remaining 14, the slates are Precambrian. Rocks intrusive into the slates are all of intermediate to acidic composition and are emplaced as stocks, dikes, or sills, rather than being batholithic in proportions. Intermediate interceptors have not been recognized in only three of the 17 districts. Data from China and Mongolia are inconclusive as to this characteristic. Black Shale Gold Higher than average gold values are found in modern sedimentary rocks in coarse granulites, conglomerates, sandstones, and gray-wackes. Not so predictably, higher than average gold values also occur in black shales and carbonaceous argillities. Li and Shokena (1974) found that, in the Proterozoic sedimentary and equivalent metamorphic rocks of the Enisei Ridge, carbonaceous and graphitic phyllites and schists were particularly enriched in gold. Korotayeva and Polikarpochkin (1969) reported gold content in organic rocks to be enriched up to 15 times more than the organic free shales and siltstones of the Nerchinsk Zavod region of eastern Transbaikal. Black shales can be gold interceptors as are rocks of the granulite facies. Gold occurs in shales in particulate, free form, in pyrite, adsorbed on clays, and precipitated on carbon. In copper-bearing shales of Poland&apos;s Fore-Sudetic monocline, Kucha (1973) reported gold present in organic compounds as well as in silver bearing minerals. Anoshin (1969) found a strong correlation between gold and the pelitic fraction of sediments in certain rocks of the Atlantic Ocean basin. Heavy metal absorption on clays results in agglomeration to the extent that the particles settle with the heavy mineral fraction in enriched strata. Piper and Graef (1974) think that gold in sediments on the flank of the East Pacific rise is of lithogenic origin. Crockett (1973), however, proposed a volcanogenic exhalative origin. A strong correlation between gold and volcanic activity exists in rocks of the Canadian Shield where tuffaceous sediments and porphyries are more frequently enriched in gold than rocks with no volcanic components. Volcanic rocks of intermediate to acidic composition are considered here to be the primary source of gold in black shales. Gold is concentrated in shales as detrital free grains with diameters less than 50 µm (270 mesh), as precipitates, and in pyrite or other sulfide minerals. This is the first step in the history of gold placer deposits. Grain Size Modification Gold, as free grains with diameters less than 50 µm (270 mesh), is too light to be concentrated hydraulically into placer deposits. Some process has increased the average size of the gold grains. Mobilization during regional metamorphism converts most of the gold into particulate grains or entrains it in microfractures in the sulfide minerals. With moderate folding, small, white, vitreous quartz veins develop. As deformation continues, larger, more conspicuous quartz veins are formed. The larger veins are folded and faulted and contain native gold as minute specks and flakes not visi-

Jan 11, 1984

By Howard L. Hartman

Introduction The federal government&apos;s declining role in funding research has created a critical dollar gap for university departments of mining engineering. Industry, too, is affected by the drought. Research is lagging. Hardpressed universities are going to the private sector for funding. Mining companies should not shower universities with philanthropy, but a research partnership should be contracted on a pay-as-you-go basis. A model exists at The University of Alabama (albeit not in mining) that could be adopted by the mining industry. An equal partnership arrangement between a university and an industry for conducting research is proposed. The concept is not that a corporation sponsors and a university performs the research. Nor does it call for educational contributions or giveaways from industry. Rather, the corporation and the educational institution enter into a cooperative research endeavor, a full and equal partnership. Both parties contribute and both share the benefits. A key to the relationship is that it has a single objective: it must generate profits or reduce costs for the company. Working Model Recent literature is replete with examples of proposals for joint research endeavors, involving both contracts and grants, between industry and universities (Bronwell, 1971; Bugliarello, 1978; Branscomb, 1981; Sanford and Holland, 1982). They are all good proposals and offer something to both parties. They are, however, not widely supported. Few have received a favorable nod from the US mining industry. Though it may be logical, for example, to remake the American Mining Congress (or some new consortium) in the mold of umbrella-type industry organizations to fund cooperative research with mining institutions, such proposals have never flown. What model, then, will work? First, look for a model that has worked in industry in general. Second, seek to apply it to mining specifically. There is a model project that satisfies the first of those criteria. It is a project complicated by a third party, in addition to a corporation and a university. In January 1983, the "Factory of the Future Project" was initiated between The University of Alabama (UA) and General Motors Corp. (GM). The United Auto Workers (UAW) is a third party to the agreement. The factory was GM&apos;s Rochester Products Division manufacturing plant in Tuscaloosa, AL, also home of UA&apos;s main campus (Fig. 1). Saving a Plant The agreement came about at the initiative of GM and the UAW. Faced with having to close the plant because of excessive production costs, company and union officials proposed to the university that an applied research facility be established at the plant. The university would operate the laboratory, dedicated to $470,000 a year cost reductions for the company. The school would lease the 5.1 km2 (55,000 sq ft) space for $470,000 a year for three years. Any savings effected by the university&apos;s research effort would be credited toward to the rent. GM said the small factory, which made replacement carburetors

Jan 9, 1984

By Robert B. Parsons

"With several hoots of the whistle, Canada&apos;s fiscal engineers are once again cranking up the income tax locomotive, in an effort to inject new stimulus into a stubborn economy. And once again, additional gears, wheels, levers, and other mysterious part s are being added to the already complex machinery in order to accommodate the new push.This time, a significant new mechanism involves a major overhaul and expansion of the investment tax credit system.Although the shiny new devices have considerable appeal to a certain group of potential passengers, one wonders if all of the renewed chugging and huffing is on the right track.IntroductionAs indicated in Tax Notes in the July 1983 issue of CIM Bulletin , the April 19, 1983 federal bud get introduced a number of new measures which would permit investment tax credits and research and development deductions to "" flow through "" from a corporation to another taxpayer."

Jan 1, 1984

By L. Y. Sadler

This report summarizes the findings of a 9-yr research program, sponsored by the U.S. Department of Energy and conducted by the Bureau of Mines, to evaluate refractory liner materials for coal gasifier reactors. Commercially available refractories were exposed to coal gasifier reactor environments, reproduced in the laboratory with a high-temperature, high-pressure test facility, followed by extensive postexposure evaluation. Thirty-six castable or gunnable refractories and cements and 24 refractory brick were evaluated. The behavior of castable refractories reinforced with stainless steel fibers was also examined. Gas environments that were evaluated included steam, H2, CO2, CO, and typical high-and low-Btu gas mixtures. Exposure pressures ranged from 100 to 1,000 psig, temperatures from 5000 to 1,1000 C, for periods from 50 h to 2,000 h. In some exposures, sodium and/or potassium hydroxide were introduced in order to simulate a high-alkali environment. It was found that intermediate-and low-alumina refractories produced from domestically available raw materials, rather than high-alumina refractories produced from imported raw materials, gave the best service as liner materials and that alkali attack was probably not a serious problem with most refractories. Based on the results of this program, good choices of refractory liner materials for gasifier reactors can be made.

Jan 1, 1984

By Richard J. Stoehr

Man has mined in all his time on earth about 3 billion ounces of gold. About one-half of this has been mined in the past 35 years. This gold is roughly in 3 large holdings: one-third held as reserves in Central Banks; one-third held as personal reserves; and one-third is in jewelry or other fabricated products. The world per capita availability of mined gold is increasing and there are many factors and forces shaping gold&apos;s future. Currently, gold has a favorable exchange ratio and this is encouraging many new gold-mining developments. Production is increasing and new techniques are surfacing. The use of gold in the financial markets is increasing in some unique ways and gold is again fulfilling its role as a universal money, making gold&apos;s future predictable. Currently, man is mining gold at the rate of approximately 44 million ounces annually and is therefore adding to the total supply of gold approximately 1.5% of newly mined gold each year. This current production plays a small role in the pricing mechanisms since a very large part of the 3 billion ounces mined in all of history is available to the market in one form or another.

Jan 1, 1984