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The first form of a surety bond was an honest handshake between two or more parties, agreeing to a decision and their personal guarantee of following through to completion. This has all changed. In 1895, the United States Treasury Department disclosed that $35 million worth of personal surety guarantees on file had become worthless. At that time, a law was passed, requiring all surety bonds, in favor of the United States, must be corporate surety bonds. Today, a surety bond is one of the nation's leading financial instruments used to guarantee the completion of an obligation.

Jan 1, 1989

Base metal skarns have provided most of South KoreaÆs Pb-Zn production since the end of the Korean War, with the bulk of production coming from the Yeonwha group of mines. Currently only the Kumho Zn-Pb mine remains in production, while magnetite skarns are mined as iron ore at the old Yomisan and Ulsan base metal deposits. Base metal skarns within Korea fall into two groups; those hosted in Cambro-Ordovician limestone sequences, situated mainly in sub-basins in the northeast of the peninsula and those hosted within carbonate volcaniclastics of the Cretaceous Gyeongsang Basin, in the southeast. Sulphide mineralisation is dominated by sphalerite, lesser galena, arsenopyrite and pyrrhotite, with subordinate chalcopyrite and molybdenite with Ag-Co credits. Skarns are composed of pyroxene-clinopyroxene-garnet-carbonate-quartz and magnetite, grading into silica-chlorite hornfels. Most of the significant deposits display both pipe-like and stratabound morphology. In the Hwanggang district, a zoned distribution of Ordovician carbonate hosted, polymetallic Mo-W and Zn-Pb-Cu-Ag base metal deposits is observed around the margin of a Cretaceous granite intrusion. Similar polymetallic zoning is recognised in the Sangdong district, where deposits include Sangdong (W), Abisan (Au-As) and Yomisan Northwest (Zn-Mo) and Yomisan Southeast (Zn-Cu-Co), hosted in Ordovician carbonates in proximity to Cretaceous quartz porphyry intrusives. The Taebaeksan district hosts the largest deposits at the Yeonwha group of mines. Although production ceased in 1993, significant resources remain, hosted in Ordovician limestone and dolomite that have been intruded by Cretaceous quartz porphyry dykes. Deposits in the Cretaceous Gyeongsang Basin consist of bedding concordant, vertically stacked base metal skarn mineralisation at several stratigraphic horizons, connected by carbonate-base metal veins with a pipe-like geometry. Evidence such as massive sulphide layers and restricted proximal carbonates suggest mineralisation was initially partly syn-depositional, with both base metals and carbonate venting onto a lake floor, being reconstituted to skarns by later magmatic activity. Skarn mineralisation is universally closely associated with the Cretaceous Bulgugsa Series acid intrusive activity. A common intrusive-structural relationship is recognised at some deposits, with bedding plane and imbricate thrust faulting, introducing felsic intrusives as sills. These intrusions probably introduced the base metals, carbonate, boron, heat and silica, which metasomatically reconstituted the carbonate lithologies to form skarn assemblages. The Korean base metal skarn deposits are regarded as Zn-Pb chimney-manto skarns and display similarities to the Mexican manto type deposits.

Jan 1, 1999

By H. W. Fleming

In 1955, the results of a regional, geological interpretation of the northern portion of New Brunswick were used as a basis for selecting, for intensive exploration, three areas in which structural and stratigraphic conditions were believed to be favourable. Airborne electromagnetic work, in one of these areas, provided the justification for acquiring the Murray group. Even though the initial results were discouraging, this geological interpretation, combined with the fortuitous discovery of cop• per-bearing float, was sufficient reason for carrying out further work using geochemical methods. This work finally resulted in the discovery of the Murray massive-sulphide deposit, after about eighteen months of coordinated exploration on the property. While this deposit is a typical New Brunswick-type base-metal occurrence, extensive leaching has produced a fossil gossan that rendered it an elusive target for exploration techniques of limited penetration Full credit for localizing the target area is given to the geochemical techniques, but geophysical surveys were needed to provide the necessary

Jan 1, 1961

By J. W. Thompson

SALE AND CONVEYANCE. DEED BY INDIAN ALLOTTEE OF UNSOUND MIND-BONA FIDE PURCHASER. The deed of an Indian allottee whose mind was unsound, but who was not entirely without understanding, is voidable if made before the grantor's incapacity has been judicially determined; and a purchaser of the original grantee who interposes the defense of a bona fide purchaser has the burden of showing a purchase for value and on failure to do so can not claim the benefit of a bona fide purchaser. Adams Oil & Gas Co. v. Hudson (Oklahoma), 155 Pacific, 220, February. 1916. PURCHASER OF MINING CLAIM-RIGHT TO FIXTURES. The purchaser of a mine equipped with an electric hoist, placed in the mine under a rental contract with the owner of the hoist and under an agreement to return it to the owner at the expiration of the term of hiring, can not claim and hold the hoist as against the owner where the agent of the seller explained to the purchaser that the hoist was not owned by the owner of the claim. Montana Electric Co. v. Northern Valley Mining Co. (Montana), 153 Pacific, 1017. p, 1018, October, 1915. AUTHORITY OF GRANTEE TO EXTEND LEASE. A deed conveying lands subject to an oil and gas lease under which the lessee had the right to drill or pay money in lieu of drilling at his option, and reserving to the grantor a share of the royalties under such lease, and expressly authorizing the grantee to lease the land for oil and gas purposes and to take the rentals, authorizes the grantee to extend the existing lease before the expiration thereof in consideration of the annual payment of money in lieu of drilling, as contemplated by the lease.

Jan 1, 1916

By R. G. Bottge

To better understand those factors which increase mining costs in Alaska, a Bureau of Mines study was conducted to compare the estimated costs of operating a 100,000-tpd open pit copper mine located on a hypothetical ore body in the Lake Clark area, Alaska, with the costs of mining a similarly sized hypothetical copper ore body near Tucson, Ariz. The information derived should be beneficial to the State and Federal governments in appraising the potential for development of large, low-grade porphyry copper deposits in south-central Alaska. Conventional mining and concentrating methods were assumed, and capital and operating costs were derived using flowsheets and standard costing methods. The total price required for copper mined in Alaska and Arizona was $1.12 and $0.63 per pound, respectively, plus or minus 20 percent. These values were obtained assuming no leaching of low-grade copper, recovery of gold, silver, and molybdenum as byproducts, 100-percent equity financing, and a 12 percent discounted cash flow rate of return. The average domestic and international prices for copper in July 1973 were $0.60 and $0.916 per pound, respectively. The existence of a developed transportation and power system in Alaska would have reduced capital and operating costs subs tantially. The required price for copper would have declined from $1.12 to $1.05 per pound, plus or minus 20 percent.

Jan 1, 1974

By C. M. Paiencia

The Bureau of Mines studied the potential availability of primary antimony (Sb) from demonstrated resources in 21 mines and deposits in market economy countries (MEC's). Twelve of these properties were evaluated as producers and nine as non- producers. The 21 studied properties contain 499,600 mt Sb as demonstrated resources, of which 304,000 mt is recoverable as antimony metal; another 973,500 mt Sb is contained in inferred resources. Recoverable antimony from demonstrated U.S. deposits is only 10,700 mt, just 3.5 pct of the MEC total. Domestic production of primary antimony from operating mines has averaged only 561 mt/yr over the 10-yr period 1975-84. This represents just over 5 pct of total U.S. consumption of primary antimony, which averaged 11,081 mt/yr during the same period. The United States will thus continue to rely on imported ores andlor concentrates, antimony oxides, and metal to satisfy domestic industrial requirements. At production costs up to $1.15/lb Sb, 110,000 mt of refined antimony is potentially available from 10 of the 21 studied properties. At $2/lb, 294,000 mt Sb is available, and at $3/lb, the total rises to 304,000 mt Sb available from all evaluated producers of refined antimony.

Jan 1, 1986

By R. T. Jones

"SynopsisScientific progress relies on the publication of ideas and experimental results that can be replicated, tested, and improved over time. The first printed book on metallurgy to have been published in Europe is considered to be De la Pirotechnia, written in Italian by Vannoccio Biringuccio, and published in Venice in 1540. Together with De Re Metallica, written by Georgius Agricola and published in Latin in 1556, this can be considered to mark the start of scientific and technical literature in this field. Scientific publishing of journal papers has been in existence for 350 years, since the world's oldest and longest-running scientific journal, the Philosophical Transactions of the Royal Society, was first published in London in 1665.The nature of scientific societies has changed significantly since the early days when regular meetings were held to discuss science and conduct experiments, and the reading of scientific papers took place, and publication of papers was undertaken to record the proceedings of meetings, often including rather robust debate. In today’s world, there is a plethora of publications, and it is close to impossible for anyone to keep up with the vast flow of information. International conferences with hundreds of presentations have taken the place of the local meetings that used to discuss a single paper or experiment. In this frenetic environment, it is essential that researchers are able to trust the material they read.The system of peer review is used to maintain standards and to improve the quality of papers. This vital system is, however, significantly flawed. There is little incentive for reviewers to invest sufficient time in picking up all errors in publications, and any ineptitude on their part is usually protected by anonymity. It has reached the point where some reviewers have mistakenly permitted the publication of hoax papers deliberately presented with a complicated scientific facade. In light of such astounding inadequacies, perhaps a more open review process would be an improvement. Electronic publishing allows errata to be linked to the original papers.There is an increasing trend towards open access for papers in scientific journals and conference proceedings, which helps to reach as wide an audience as possible. This also supports the statement in the Universal Declaration of Human Rights, which says ‘everyone has the right freely to … share in scientific advancement and its benefits’."

Jan 1, 2015

By Carroll C. Bailey, William F. Boericke

Mine financing, or providing adequate capital for developing and bringing a mining property into production, is an essential requirement for a successful operation. Today it presents a different picture than even twenty-five years ago. The day appears to be gone when a mining property could pay its own way from grass roots to production. The country has been quite thoroughly combed for surface showings from which sufficient initial profit could be immediately garnered to pay for further development and production facilities. The four M's for success in mining-mineral, market, management, and money-are still essential; but doubled or tripled wage costs and steep advances in cost of equipment and supplies throw increased emphasis on adequate capital funds for bringing in a prospect and making it a producer. Consequently, the old picturesque, although seldom rewarding, grub- staking procedure where a single venturesome citizen might advance funds to a prospector on a fifty-fifty basis for whatever discovery he might find, has largely disappeared. Its place, to some degree, has been taken by the small syndicate of venturesome members who band together for furnishing funds to a group of prospectors for the same general purposes. Such a syndicate has a definite organization and is usually assured of sufficient initial funds, or flow of funds, to carry on work for several years. It is headed by an engineer-promoter who has had considerable field experience as well as personal knowledge of his prospecting crews. For the owner of a potential mining property who has ample capital, the problem is to determine (1) justification for the necessary investment in exploration and development, and (2) the economics of the enterprise as to size and degree of integration of the final operating entity. If the owner of such a property has little or no capital, he also faces these same basic problems but, in addition, must be able to present the findings of fact and persuade the prospective investor that the enterprise will produce

Jan 1, 1959

By ARCH L. FOSTER

The rapid increase in the mmber of automobiles during the last 25 years has resulted in the insistent and growing demand for better roads of more permanent construction. Some form of State license for the operation of automobiles has been in effect almost from the time of the first "self-propelled" vehicle, and some part of the revenue derived from the sale of these licenses has been applied to the maintenance and construction of roads. However, to obtain funds with which to build their present highway systems, the individual States have resorted to the taxation of gasoline. The first State to adopt a gasoline tax was Oregon, the law becoming effective February 25, 1919. By 1928, all of the States except two had levied taxes on gasoline at rates varying from 2 to 5 cents per gallon. New York and Massachusetts passed gasoline tax laws which became effective in 1929. Regulations governing the quality and the methods of handling gasoline and other petroleum products sold in the States have also been adopted by 29 States; many of these laws antedate the adoption of a gasoline tax. The variations in motor fuel speci- fications and methods of test have been pronounced in the several States. The Bureau of Mines, in making certain technical studies of the rasolines marketed throughout the United States, the results of which are reported in its semiannual motor gasoline surveys and other reports, has had occasion to obtain and compile all of the present (April 1, 1931) tax and pection laws of the several States which relate to motor fuel and other petroleum products. To facilitate the use of this material and to obviate the need in most cases of reading the complete text of the laws as published by the States, the pertinent information was arranged in tabular form for cly reference. 3 Although digests of States gasoline tax laws' are available and copies of the complete laws can be obtained from the State agancies in charge of the enforcement of gasoline tax and inspection laws, it is believed that

Jan 1, 1932

By Thomas T., Read

IT is difficult to judge how much influence the success attained during its first year, 1864-65, by the School of Mines at Columbia had on developments in education for the mineral industry elsewhere in the immediately subsequent years. The facts are as follows: 1. The Massachusetts Institute of Technology began giving instruction in February 1865, with a mining course included in its curriculum. 2. Early in 1865 the faculty of the Department of Science, Literature and the Arts of the University of Michigan requested permission from the Regents to establish "a course of study to be called the School of Mines . . . Also that the degree of Mining Engineering, be conferred on students who should complete the course of study prescribed in the same." A resolution authorizing this was adopted by the Regents on March 28, 1865. 3. Samuel Hooper endowed a Sturgis-Hooper professorship of geology at Harvard in 1865 with the intention of making it a nucleus of a new School of Practical Mining and Geology. 4. Yale appointed Alfred P. Rockwell professor of mining in 1865. 5. Lafayette College appointed Henry S. Osborn professor of mining and metallurgy in 1865. 6. Washington College (as Washington and Lee was then known), rising out of the ashes of Civil War destruction, made a fresh start in 1865, with Generalized as its president, and offered a mining course in the first catalogue thereafter published. 7. Lehigh University, founded in 1866, had a mining curriculum from its beginning. 8. Rensselaer Polytechnic began offering a curriculum in mining and metallurgical engineering in 1867. It would be natural to suppose that these events were a reaction, to the success of the school at Columbia, - and possibly they

Jan 1, 1941

By C. M. Campbell

IN 1902, a famous Canadian geologist made the following statement : ?'From what we know row of the iron-ore fields of the Province, we may feel that Ontario is assured of a great future as an iron-ore producing country. Judging from the extent of the territory over which the newly discovered ranges have been found, Ontario should in the not far distant future take her place as one of the chief iron producers in the world". In 1905, an official of the Department of Mines said: "In ten years Canada will have b:ecome a great metallurgical country. You will see an iron industry in this Dominion larger than in any country in the world. Canada will yet furnish the world with its iron supply. It will be the same with iron as with wheat. A decade from now Canada will outstrip all other countries in wheat growing. The production of iron at a cheaper rate than it can be made elsewhere will cause Canada to take a similar position as far as iron is concerned". In 1924, a former President of the Institute, in arguing his claim for inconceivable mineral wealth in this country, stated as a "certainty" that iron-ore deposits on the scale of the ones in Minnesota would be found "again and again" in the Canadian Precambrian. In 1930, a Minister of Mines announced that "The country surrounding Churchill holds large deposits of valuable iron and coal", and he stated that, at that place, 'We will have an industry in iron that will compare with Pittsburgh". These statements are definite promises, just as definite and important as the statement "I promise to pay" on a note, and they are not fulfilled by casually stating, as is the habit, that someday we will work our low-grade iron ores. Nor are they fulfilled by stating, as is often done, "Oh, So-and-So did not mean that ' . Due to their importance and to the prominent positions held by the men who made these statements, they were widely circulated throughout Canada. They were taken at their face value, and on the strength of them and many more of the same kind in regard to our other resources we have planned and built, at huge expense, provinces, governments, civil services, railways, and other equipment. The reserves that were to justify these expenditures have not appeared. There has not been a ton of iron ore mined in Canada for many years, and important commercial reserves are unknown. We have built the mill, but adequate ore is lacking.

Jan 1, 1937

By William Cochran

Data on the cost and quantity available were developed for rutile (TiO2), which is potentially recoverable as a byproduct at sand-washing plants in the Southeastern States of Alabama, Georgia, North Carolina, and South Carolina. Baaed on 1969 production data, an estimated 4,300 tons of rutile could be recovered annually from plants that process more than 25,000 tons of sand per year. Rutile prices at which this resource would be available ranged upward from $262 per ton, compared with the current market value of $185 per ton.

Jan 1, 1972

By H. Foster Bain

Steel for any large structure must be imported, the Hanyang works being entirely unable to supply local demand. The United States Steel Products Co. has warehouses and small stocks at Shanghai and at normal times there are heavy importations from Europe. It is difficult to obtain any accurate index of prices, but comparison of customs valuations with Pittsburgh quotations shows angles, bars and plates to have averaged $10 gold per ton higher in China in 1914, while on galvanized and tinned plates the excess was- $38 per ton. The margin since has been greater. Previous to the war little machinery was manufactured in China. There were shipyards at Shanghai and at Hong Kong which built a small number of engines, and small foundry and repair works are found at a number of ports. Their capacity was limited and the difficulties and delays incident to transport in China so numerous that in practice every important mine has a small foundry, boiler works, and machine shop. This must be taken into account in plans for work in the country. While skilled workmen can be found it is to be noted that most of them have been trained

Jan 1, 1921

By W. M. Myers

MINERAL Economics is the most recent profession to be recognized as a separate division of the mineral industries. It has originated from the increasing awareness of the importance of the economic aspects of industries concerned with discovery, extraction, and utilization of minerals. It is concerned with the interrelated fields of economics and technology. The individual trained in economics alone cannot qualify. The curriculum in the School of Mineral Industries at The Pennsylvania State College was approved in May 1946, and enrollment begun in September of that year. Due to the transfer of advanced students from other courses, particularly metallurgy and electrical engineering, it was possible to graduate the first seniors in June 1947. The next class was graduated in February 1948. From experience derived from placing these graduates in industry, and from information supplied by prospective employers, valuable data have been obtained in the organization and operation of the course of study.

Jan 1, 1948

By R. D. Brown

Ever since British Columbia started the ball rolling in 1974 with the introduction of its now-defunct Mineral Royalties Act, all Canada's resource-based provinces have significantly altered their mining tax systems. The last resource-based province to abandon its pre -1974 mining tax structure is New Brunswick, which introduced a new mining tax regime in the summer of 1977 to take effect from April 1 1977. The new structure, which represents the outcome of considerable study and discussions with industry representatives, contains some intriguing concepts which make Nero Brunswick's new mining tax system unique among the Canadian provinces.

Jan 1, 1977

By Joseph Domenico

AMONG others, one of the most important duties of the accounting department is to disclose to the management the cost of production accurately and as quickly as possible after the ore has been produced and treated. A report is issued daily showing man shifts and the cost of labor, supplies, power, and miscellaneous charges to each department of the operation: mining, crushing, milling, packing and loading, and general expense. Mining costs are broken down into stoping, handling, development, exploration, and miscellaneous, and each of these subdepartmental costs are further broken down into the branches making up the subdepartment. Costs of crushing, milling, packing and loading, and general expense are detailed in the same manner. With such a detailed daily report as this, the management is able to keep in close touch with the efficiency of the entire operation. Because no expense items are deferred or spread over a period, and so that the report does not lose its comparative valve, appearances of unusual charges are explained.

Jan 1, 1946

By John W. Taber

The Bohemia mining district is a small but intensely mineralized area in western Oregon . For its size , it has made a substantial although somewhat sporadic production of gold throughout a long period of years . The veins also contain lead, zinc , and copper, but in the past these metals have not been recovered in important amounts . In reviewing the progress of mining activity in the district , an effort has been made to gather under one cover all available information on former operations , including methods of mining , production, and geology pertinent to the ore deposits , problems encountered, and other factual data that may affect future mining in the district . A special effort has been made to assemble as many maps of former workings as possible in order that these may be preserved and readily available to assist in future exploration. The data presented herein are based on brief reconnaissance examinations made during several weeks spent in the field in September 1946. These are supplemented by information obtained from various individuals actively or formerly connected with operations in the district . Only the principal properties and several of the more outstanding prospects were actually examined. Many of the older workings were inaccessible.

Aug 1, 1949

By Walter Valery, Sarma Kanchibotla

Due to the global financial crisis, the world economy has turned upside down and most major economies in the world are facing severe recession for the past one and half year. During this period most commodity prices have tumbled by more than half from their peaks and such a sudden and severe economic downturn is not seen since the great depression. This sudden drop in commodity prices and lack of credit made many mining operations unviable and even those mines that are marginally viable at this point are operating under severe cost pressures and capital expenditure restrictions.

Jan 1, 2010

By H. M. Park

Risk is a major factor in all mining activities, arising from many internal and external variables. The authors? research has resulted in a systematic method for the quantification of risk in mining projects (Park, 2012). This research will be presented in a series of papers, this one and two more that will be published on Mining Engineering?s web site, www.me.smenet.com. This paper identifies the variables associated with risk in mining projects, and their effects. The second paper discusses methods of assessing the overall risk associated with those variables, and presents a statistical model based on a survey of 31 experts. The third paper presents an evaluation of the statistical model, using data from previous mining investment decisions in which the authors have been involved. There are several major competing entities, including BHP Billiton, Rio Tinto, Anglo American, Xstrata, Freeport-McMoRan, Chinese government- run companies and Japanese trading companies, that have large foreign holdings, controlling deposits in most of the world?s established and productive mining districts. In general, the mining industry considers the United States, Canada, Australia and the European countries to have good mining investment environments, but because the major companies have already achieved market dominance in those countries, large investments are required there. Newcomers seeking to enter the industry, either as producing companies or as investing partners, often have difficulty breaking into these established markets. Thus newcomers are increasingly turning to new areas like South America and Africa, which are relatively less developed. The competition among businesses to secure a share of the new market is intense, but there are still good investment opportunities. However, because most of the countries in these areas are not well developed, several additional risks are associated with participation in mining projects in those areas.

Oct 1, 2013

By AIME AIME

ENGINEERS in the past have been largely associated with private enterprise and there has been a considerable tendency on the part of some members of our profession to depreciate government service for engineers. We engineers must change our mental attitude about employment in government service, particularly in view of the present most friendly attitude of the U. S. Civil Service Commission toward engineers for major posts in our Government. We must also take a much more active interest in public affairs. It must be realized that the national-defense program, which we are now organizing, will require for its effectiveness large numbers of engineers skilled in a wide range of technical and administrative services. In fact, the success of this undertaking will depend largely upon the extent to which our Government can command expert engineering talent to serve during the emergency. There is an acute shortage of technical and supervisory engineering personnel not only in the industries concerned with national defense but also in the Army, Navy, and other defense agencies of the Government. By an Act of Congress, approved on Oct. 9. 1940. $9,000.- 000 was turned over to the U. S. Office of Education, the regular defense agency of the Government which has co-operated with higher education for

Jan 1, 1941