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By T. H. Watkins

COAL is the basis upon which the activities of the industrial nations of the world rest today. In order that the coal industry may bee restored to a reasonably healthy condition, it is essential that both the operator and the miner should understand that they are directly concerned and that their selfish interests demand that they take an active, intelligent, self-sacrificing view of the entire situation and do their part in restoring and repairing the economic structure. Foreign credits, foreign debts, unstable exchanges, destroyed markets, and inability through lack of credit to carry on as before, all require our attention and cooperation. DEEP CONCERN AS TO FUTURE There is deep concern as to the future and a realiza-tion on the part of some of these leaders of industry that they will have to sacrifice their personal time, away from their desks and the details of business, in order to cooperate with other groups in studying the situation and endeavoring to find the best method of utilizing their knowledge in improving conditions and averting further disaster. It is most unfortunate for the country and for labor itself that the labor chiefs are blind to these necessities, and hostile to every effort to secure their cooperation in rebuilding prosperity.

Jan 2, 1922

By Charles F. Herbert

It is difficult to decide who most deserves credit for discovery of a mining district that has produced over 19.8 Mg (7,000,000 fine oz) of gold and still contains a large reserve of low grade ore. Fred Culver may have made the first discovery. In the summer of 1867, the ship's log of the Hudson's Bay Co.'s steamer Otter stated that Fred Culver had been found nearly lifeless from wounds, without provisions, but with some 2.3 kg (80 oz) of rough, placer gold in the bottom of his canoe; he told of finding a rich creek and an attack by Indians that caused the death of his two companions. The place of rescue was about 24 km (15 miles) southeast from the present site of Juneau. Possibly John Muir, the hero of modem environmentalists, should be given important credit. In 1879 he reported finding mineralization along what later became to be known as the Juneau Gold Belt, and it was his report that induced the cantankerous German mining engineer, George Pilz, to grub- stake some of the prospectors who had drifted into Sitka from the declining gold placers of Cassiar, British Columbia. Pilz also offered rewards to Indians who might report gold discoveries.

Jan 1, 1990

By Robert B. Parsons

"This month, Tax Notes focuses on two features which can potentially ""dress up"" a new issue of common shares to make the shares more attractive to investors. Attaching warrants to a share issue is a relatively common practice, and recent years have seen an imaginative variety of different kinds of warrants, some of which can be subject to somewhat different tax treatment . A less common financing strategy which certainly deserves some consideration involves the possibility of utilizing ""Share Purchase Tax Credits "" in conjunction with a new share issue.IntroductionPrevious subjects covered in Tax Notes have dealt with flow-through shares and other tax angles which can make equity issues more appealing to potential investor s. Two other techniques which can add zest to a new stock issue involve the utilization of warrants and ""share purchase tax credits"" (or SPTCs). This article takes a brief look at the better known subject of warrants and the lesser known matter of SPTCs.Of course, this paper presents only a relatively general summary of the income tax implications of warrants and SPTCs, and is not intended to be a definitive commentary on all of the detailed and complex tax issues that might be relevant in the circumstances."

Jan 1, 1985

By Greg Barnes

Agenda ? The Mining Stock Life Cycle ? Current Environment ? Valuation ? Golds ? Valuation ? Base Metals ? Case Study ? Quebrada Blanca Hypogene Commodity Investment Cycle ? Macro-Economic Indicators ? LME Inventories ? watch the trend; rising inventories ? bad for prices, declining inventories good for prices ? OECD Leading Indicators ? PMIs ? Purchasing Manager Indices ? Industrial Production ? more important for metals consumption than GDP ? Housing Starts ? US, Europe ? Auto Sales ? All things China ? metal imports/exports; SHFE inventories; SRB stockpiling ? Seasonality ? it does play a role ? What is Chris Dutton (TDSI Quantitative Analyst) saying?

May 1, 2010

By Grant C. Lukey, Jannie S. J. van Deventer

"The environmental effects of the mining and mineral industry include destruction of natural habitats, changes in river regimes and water tables, and other serious ecological impacts. In this century, it is likely that water will become a critical resource, and in most countries the mining industry competes for a share of this resource. The Kyoto Protocol may at first seem only relevant to the coal mining and power industry, however, it should not be forgotten that the mining and mineral industry is a significant consumer of power. Therefore the ratification of the Kyoto Protocol by most developed countries and the introduction of a carbon credit trading scheme will impact on the industry by potentially increased costs in utilities and waste discharges. It is clear therefore that the mining industry faces many challenges in the coming years. The mining industry?s commitment to sustainable development needs to continue to evolve, in order to meet these challenges effectively. With the advent of globalisation of the industry, it is now an opportune time for the industry to gain international agreement on how they want the industry to achieve sustainability in future years; such a progressive approach is necessary, otherwise government will force the industry to change, which may not necessarily be the best outcome for the industry.INTRODUCTIONThe Earth Summit in Rio de Janeiro in 1992 was an opportunity for world leaders to assemble and discuss strategies and initiatives that provide for further industrial growth without adverse effects on the environment. The World Summit on Sustainable Development held last year in Johannesburg, South Africa, was an opportunity to evaluate those initiatives implemented over the past 10 years, and to set a new and sustainable direction for the future. It is clear that industrial and technology development will continue at a rapid pace in order to serve the needs of a growing world population, but it is essential that the course of this development is well planned, well executed, and that it is sustainable. In reality, while government officials and politicians continue to debate policy and international protocols, the environment continues to suffer and the effects of climate change and global-warming become more real each day."

Jan 1, 2003

By J. P. Powell

The importance of recovering more oil from known petroleum reserves has placed increasing emphasis on the application of secondary producing methods. One of the most successful of these has been the injection of water into depleted oil reservoirs. Water flooding is now recognized as a valuable conservation measure that not only prevents the premature abandonment of stripper leases but also is credited with reviving operations in many oil-producing areas previously abandoned. The injection of water into an oil-producing zone as a method of stimulating oil production was legalized in Kansas in 1935. Although water flooding had been attempted previously in other parts of the State, 1935 marked its introduction into the shallow stripper area of eastern Kansas. Two years later flooding was begun in the five-county area that is described in this report. Figure 1 is a map showing the water-flood areas in Allen, Bourbon, Crawford, Labette, and Neosho Counties, Kans. To July 1, 1955, the 77 projects in the oil fields of these 5 counties are credited with recovering an estimated 12.3 million barrels of oil that would not have been produced by methods used previously. These projects are expected ultimately to cover 10,700 acres, of which only 5,400 has been flooded to date.

Jan 1, 1957

By J. W. Thompson

Be if enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That deposits of coal, phosphate, sodium, oil, oil shale, or gas, and lands containing such deposits owned by the United States, including those in national forests, but excluding lands acquired under the Act known as the Appalachian Forest Act, approved March 1, 1911 (Thirty-sixth Statutes, page 9G1), and those in national parks, and in lands Withdrawn or reserved for military or naval uses or purposes, except as heroinafter provided, shall be subject to disposition in the form and manner provided by this Act to citizens of the United States, or to any association of such persons, or to any corporation organized under the laws of the United States, or of ;iny State or Territory thereof, and in the case of coal, oil, oil shale, or gas, to municipalities: Provided, That the United States reserves the right to extract helium from all gas produced from lands permitted, leased, or other- wise granted under the provisions of this Act, under such rules and regulations as shall be prescribed by the Secretary of the Interior: Provided further, That in the extraction of helium from gas produced from such lands, it shall be so extracted as to cause no substantial delay in the delivery of gas produced from the well to the purchaser thereof: And provided further, That citizens of another country, the laws, customs, or regulations of which, deny similar or like privileges to citizens or corporations of this country, shall not by stock ownership, stock holding, or stock control, own any interest in any lease acquired under the provisions of this Act.

Jan 1, 1921

By Douglas B. Silver

"Editor’s note: Douglas B. Silver, Portfolio Manager, Orion Resource Partners, was the keynote speaker at the 2017 SME Annual Conference & Expo in Denver, CO on Feb. 19, 2017. He also gave the keynote address to the SME Annual Conference in 2008. The following is his 2017 keynote address with a few of the slides that were presented. The full speech is available on YouTube https://www.youtube. com/watch?v=uF0qwGJIX3UIn 2008, I had the privilege of giving SME’s keynote address. At that time the financial markets were on the verge of collapse and my presentation described the issues. Unfortunately I was correct, and global markets went into a steep nosedive, creating the largest economic downturn since the Great Depression.In hindsight, there were plenty of signs that this was coming. The Supercycle had created massive new wealth. This wealth was largely invested in the United States due to the country’s political stability and credit worthiness. In 2004, the large investment banks convinced the U.S. Securities Exchange Commission (SEC) to allow them to triple their borrowing leverage ratios. This made the banks more vulnerable to market volatility. The banks then lent money to NINJAS - people with no income, no job and no assets. Even worse was the fact that these unqualified home owners used adjusted-rate mortgages (ARMs) which they, of course, intended to refinance prior to interest rates rising. These mortgages were then bundled up by the banks and sold to investors as “safe” investment products. The money flowed into these products because the rating agencies gave these instruments high marks. These same agencies earned their fees from the very same banks seeking high ratings. (No conflict there). Private debt exploded and peaked out in 2008.These mortgage products were sold in an unregulated shadow banking system and the ARMs came due. Toxic mortgage default rates skyrocketed and the mortgage-backed securities collapsed in value. This house of cards had a negative feedback loop that accelerated the market crash and resulted in more than $1.5 trillion being lost in the securitization sector, a 47 percent decline in the Dow Jones Industrial Average, foreclosure rates skyrocketing and housing prices collapsing. The financial markets were in a nosedive."

Jan 8, 2017

This study assesses whether Narragansett Basin coal deposits could be developed commercially in the near future. To do this, we identify the potential market for the coal, assess the price these users would be willing to pay for Narragansett coal, and this price to the expected costs of producing Narragansett coal. The study concludes that the major market, New England utilities, could burn bituminous coal from Pennsylvania or West Virginia at a lower total cost than Narragansett Basin coal, assuming expected mining conditions and emission policies. Therefore, the study concludes that Narragansett Basin coal resources could not be developed economically in the next ten years.

Jan 1, 1979

By R. H. Fett

T HE APPROACH to maintenance must always be ?completely positive: there must be no question of putting off difficult problems until it is more convenient to tackle them. By this it is meant that a piece of machinery or equipment which, by experience, is known to be due for a check should not, merely because it appears to be operating satisfactorily, be left until it reaches a critical .condition and breaks down. The mentality of the Maintenance Manager must be completely orderly and methodical and he should, in fact, possess a ledger-book mind, having a debit and credit outlook. The debit side would be that applying to time out of service, cost in wages, material, personnel involved, etc., and the credit side that relating to continuous operational time of the locomotive and therefore to the ultimate benefit of the mine and the personnel who work there. The Maintenance Manager is not concerned with design problems, and although he and the personnel under his jurisdiction are not engaged in productive work, he and his staff do, nevertheless, add greatly to or detract from the overall efficiency of the organization. Provided the machinery placed in his care is good to start with, he must take the best steps he possibly can to keep it running. However, he may, on occasion, be forced to improvise and this is where the ingenuity of a clever man rises to the occasion.

Jan 1, 1956

?Four-wheel, skid-steer, rover developed for CSA ?U-chassis for payload accommodation ?Passive geometric suspension ?Max speed 13km/hr ?Remote workstation ?275kg payload capacity ?On-board processor, IMU, motor encoders ?5.2kW-h battery capacity

May 1, 2013

By W. G. Millar

Until a fire occurs, insurance and prevention work are often looked on as unavoidable necessities, but as insurance is back of all business credit, it is essential to know that in case of damage money will be available to cover the loss; while the interruption of production, often caused by a fire, brings home the realization that if prevention work avoids such an interruption, it is well worth while. Fire insurance is a legal contract guaranteeing the payment of large amounts to an owner, but it is possible there is no other important contract that receives so little consideration. Although previously carried on elsewhere, it is only of recent years that insurance engineering has been actively followed up in Canada, with inspections of an owner's property carried out for his benefit. Now inspections of this kind are made, advice on fire prevention and protection work ?is available, reports with recommendations with regard to the above are furnished periodically, and with this method applied the owner receives the broadest possible cover and security at the lowest cost. Rates are set by the underwriters by rating schedules which charge for defects in a building and allow credits for protection and other favourable features . These schedules are based on the past record of loss of mining properties as a class, so that a fire in another mining property indirectly affects you, but the amount paid is reduced in proportion as your property is improved. The writer feels, from personal experience, that there is no industry where fire prevention receives more attention than the mining industry, and it is a pleasure to advise that, due to this co-operation, some reduction in the basis rates for mining risks is now being made by the underwriters.

Jan 1, 1928

By John R. Duda

The Bureau of Mines is developing estimates of capital investment, operating cost, and selling price for underground mines producing bituminous coal by various mining methods. This study estimates the required capital investment, operating costs, and selling prices for two hypothetical mines designed to produce 1.5 and 3 million tons per year (MM tpy)3 by using a longwall system in conjunction with a continuous-mining system. The coal properties being mined are assumed capable of sustaining a 20-year product Lon period. Wages and union welfare payments used in this study are those in effect as of December 6, 1975, as set forth under the National Bituminous Coal Wage Agreement of 1974. Costs of materials and equipment are based on January 1976 Indexes. Initial capital investment is $33.8 million for the 1.5-MM-tpy mine and $61 million for the 3-MM-tpy mine. Capital requirements, including deferred investments, were estimated to be $52.5 and $94.2 million, respectively. These figures translate into total capital investments of $34.87 and $31.31 per ton of annual production. Assuming a desired 15-percent discounted cash flow rate of return, with Federal income taxes at 50 percent, the required selling prices would be $12.06 and $10.94 per ton for the 1.5- and 3-MM-tpy mines.

Jan 1, 1976

The paper point out the way whereby the Canadian gobernment regulates and motivates mineral development. In this sense, its important the role of Gobernment policy in the development of the industry to its a stage. The progress of industry is due to a favorauble political climate which created an atmosphere of trust that has atracted foreing investment. Therefore, Canada's position owes much to sound legislation that recognizes the high element of risk in exploration and development and also the exhaustibility of mineral deposits.

Nov 20, 1969

By J. G. Bennett

Coal consumption has increased globally by 57% over the last ten years. Underground mining typically provides coal of the highest calorific value and accounts for the greatest proportion of production. Despite a negative environmental image and indeed impact, this industry appears likely to thrive on the global scale for many years to come. Such mining consumes large amounts of electricity with implications for carbon dioxide emission at power plants and emits substantial quantities of the powerful greenhouse gas methane. In response to this significant carbon footprint, the European Union has funded research to examine the potential for a range of improvement technologies in a project entitled Low Carbon Mine Site Energy Initiatives (LOWCARB). Coal properties related to seams and mines, together with longwall characteristics, provide the basis for research into modelling optimally efficient methane drainage with a view to assisting mining as well as maximising electricity generation at surface and hence oxidation of the methane. Possible systems for the oxidation of very low concentration methane in ventilation air, which contributes the greatest greenhouse gas impact due to the volumes emitted, have been studied and modelled. Simulation and investigation of intelligent optimisation of electricity demand patterns provide the basis for reducing the demand peaks at mines and hence the cost and ultimately the carbon footprint of a mine, while specific investigations have been undertaken into ventilation efficiency at an unusually challenging mine and simulation of mine water pumping in order to develop an innovative method to monitor pumping systems efficiency. For post-mining use, the potential of disused shafts for compressed air energy storage to improve the operation of future electricity grids with high renewable energy penetration by reducing peak generation capacity requirements has been studied. While underground coal mining will always by definition be related to a significant carbon footprint, this paper provides an overview of a set of initiatives that can make a positive environmental impact while controlling costs across a huge global industry.

Aug 1, 2013

By N. A. Karl, D. R. Wilburn

"This summary of international mineral exploration activities during 2017 draws upon information from industry sources, published literature, SNL Metals & Mining (SNL), an offering of S&P Global Market Intelligence (New York, NY) and specialists in the U.S. Geological Survey (USGS) National Minerals Information Center. Three types of information are reported and analyzed in this annual review of international exploration: 1) budgetary statistics expressed in U.S. dollars provided by SNL; 2) regional and site-specific exploration activities that took place in 2017 as compiled by the USGS and 3) regional events and legislation that affected exploration activities including economic, social and political conditions, which were derived from published sources and discussions with USGS and industry specialists. Commodity and regional compilations are presented in this summary. Because multiple sources were used to develop commodity and regional compilations, statistics may vary depending on the source and type of data that are being reported.The SNL data summarize budget estimates for worldwide exploration activities in 2017 for 30 nonfuel mineral commodities and metal alloys, based on company surveys. Surveys focused on precious metals (gold, platinumgroup metals (PGMs) and silver), base metals (cobalt, copper, lead, molybdenum, nickel, tin and zinc), bulk commodities (bauxite, chromite, iron ore, manganese, phosphate and potash), and other commodities (aluminum, antimony, diamond, graphite, heavy-mineral sands, lithium, niobium, rare-earth elements (REEs), scandium, tantalum, tungsten, uranium, vanadium and yttrium). Information on uranium exploration activities was included in SNL’s survey for the first time in 2007. Data on lithium, niobium, phosphate, potash, REE and tungsten were compiled for the first time in 2010, and scandium, vanadium and yttrium were added in 2014 because of their increased topical significance. Since 1999, companies with exploration budgets of $100,000 and greater were included in the SNL surveys. SNL budget estimates exclude coal, and oil and gas. The 2017 SNL mining company survey compilation was reported by SNL to include an estimated 95 percent of the world’s nonfuel mineral exploration budgets. The 5 percent that was not covered was accounted for by companies that chose not to participate in the SNL survey, private companies that do not publish their budget data, and government-funded exploration activities."

Jan 5, 2018

By Paul W. Johnson

A computer program for calculating capital and operating costs from material and energy requirements and equipment costs for use in preparing cost estimates for metallurgical process evaluations has been written by the Bureau of Mines' College Park process evaluation group. The program permits rapid recalculation of processing costs when changes of data or equipment are desired, and produces tables of capital and operating costs suitable for publication. Equipment cost summary tables for each process section end supplemental information for input-data checking is included in the computer printout. The program is written in Fortran IV except for several subroutines which are written in machine assembly language for the IBM 7094.3 With a few modifications, the program can be used on other computers.

Jan 1, 1969

By Arno C. Fieldner

From July 1, 1949, to July 1, 1950, the Bureau of Mines conducted the research and technologic work on coal and coal products that is summarized in this report. The research, described in this fifteenth of a series of resumes, is presented in more detail in publications (see footnote references) that appeared during the fiscal year, though in some cases research data are given that have not been published elsewhere. Results of research in the experimental coal mine, on explosives, and on gas and dust explosions will be found in Bureau of Mines Report of Investigations 4228, Annual Report of Research and Technologic Work on Explosives, Explosions, and Flames, Fiscal Year 1950. An over-all view of our coal, oil, end natural-gas reserves was presented, and the future possibilities for the, production of synthetic liquid fuels from coal were delineated.3/

Jan 1, 1951

More gold is being produced now than ever before in recorded history. All over the world huge quantities of ore are being mined and processed, thanks to historically high prices for gold and the use of processing techniques demonstrated as cost efficient in the last 20 years. Over the past 10-15 years prices for many other metals have been depressed, and gold has accounted for a significant proportion of worldwide exploration and development expenditures(l)1. The revenues generated from gold mining are providing greater return on investment, more jobs, and more tax revenues to national governments than ever before. Emerging nations are using the gold industry as a springboard for development; developed nations are continuing to fuel their economies with gold industry revenues; and China and countries of the former Soviet Union are using the gold industry to generate foreign exchange, modernize their mining industries, and take the first tentative steps toward private sector participation in their economies.

Jan 1, 1994

By S. H. Ash

California leads the Nation in the number of operating metal mines and the small number of persons employed at individual mines, which reached a minimum irk 1932 with an average of seven men. The mines are scattered over the entire State, which is the second largest in area (155,562 square miles) in the United States. The mines are situated at various altitudes, with portals ranging from approximately 300 feet below sea level to almost 12,000 feet above. Many of the mines can be reached only during the summer, while at others the heat of the regions adds so the difficulties during the summer months Supplied of explosives the use (or, probably more correctly, the misuse) of which constitutes one of California's gravest mining problems; are handled and stored under condition that contribute many hazards. The problem of providing medical care is serious and complicated, especially at small mines and more particularly in the almost inaccessible mountainous regions; instances in which a knowledge of first aid would have been beneficial but was lacking, or when first aid was instrumental in saving life or limb because it was available are too numerous to be mentioned.

Jan 1, 1936