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By G. O. Allard, A. Gobeil

The Chibougamau area is the eastern segment of the MatagamiChibougamau greenstone belt. The Archean rocks of the area consist of two mafic-to-felsic volcanic cycles ( Roy Group) overlain by a sedimentary-volcanic sequence (Opemisca Group). The Roy Group volcanics are intruded by many coeval and comagmatic differentiated gab bro sills. The Supracrustal rocks of the Roy Group and Opemisca Group have been folded about north-south axes, refolded isoclinally about east-trending axes and metamorphosed to the greenschist facies. The same lithologies have been identified east of the Grenville Front at amphibolite grade. The first volcanic cycle consists of 3000 metres of porphyritic pillowed basalts and comagmatic gabbro sills (0batogamau Formation) overlain by a thin sequence of felsic pyroclastics, porphyritic dacites, and iron formation (Waconichi Formation). The Dore Lake Complex is a sill-like layered complex intruded in the upper part of the Waconichi Formation. The second cycle consists of 3600 metres of pillowed basalts and gabbro sills (Gilman Formation) overlain by a volcanosedimentary assemblage less than 1000 metres thick (Blondeau Formation). The Cummings Complex consists of the Roberge sill (dunite and peridotite) at the base, the Ventures sill (gabbro) and the Bourbeau sill (leucogabbro and quartz ferrodiorite) at the top. It is emplaced within the Blondeau Formation. The Opemisca Group sediments and minor porphyritic K-rich andesites (Stella, Hauy, and Chebistuan Formations) form narrow belts preserved in the synclines of the area. The Proterozoic rocks of the Chibougamau area consist of conglomerates, arkoses, and argillites with dropstones of the Chibougamau Formation. North of Chibougamau, the Mistassini Basin forms an elongate northeast-trending basin filled with sediments of the Mistassini Group. Conglomerates, sandstones, argillites, dolomites, stromatolitic dolomites, and iron formation are the principal sediments within the basin.

Jan 1, 1984

By Theron A. Klinefelter, Sidney Speil, Sidney Gottlied

"INTRODUCTION The investigation of domestic talcs by the United States Department of the Interior Bureau of Mines, was initiated in December 1941 at the request Gen. Charles Hines of the United States Army. The urgency for such study was expressed by General Hines as follows:The radio-manufacturing industry has recently been expanded by the Army to provide sufficient, capacity for defense needs, and considerable concern has been expressed by the supply Arms and Services over maintaining continued availability of supplies of the necessary raw material. These ceramic products are used by the Signal Cores in all Army radio equipment, and to a greater degree in the new special ultra-high-frequency equipment. The Air Corps has recently become a user large amounts of radio-grade ceramics for aircraft spark-plug covers required for high-altitude operations. In addition, the use of this material is essential to the proper functioning of the radio-navigation aids of the Civil Aeronautics Board.Progress in the Bureau of Mines studies on talc was made available to representatives of the Army and Navy through frequent interim reports. Through the efforts of the several war agencies concerned with raw-materials supply and the domestic talc producers, the condition of scarcity that developed in 1942 passed to one of ease in 1943, and has so continued to date. Tentative estimate of reserves delineated indicates a supply of high-grade steatite sufficient to meet military war requirements for at least 4 or 5 years."

Apr 1, 1945

By Meyer Klein

Decision theory is the formal theory of the logic of decisions in view of the decision maker's objectives, preferences, I beliefs, and available information, It usually deals with weighty economic problems involving irrevocable (or costly to reverse) decisions. Capital investment planning problems constitute an instance par excellence for application of the decision theory concepts. Decision theory as it is presently conceived has evolved in recent years. At first it concentrated on decisions in the face of total lack of information and on games with intelligent adversaries. The results of these efforts proved theoretically interesting, but practically of little applicability. In the last few years, stress has shifted to the introduction of subjective probabilities and preferences, and the results have been eminently successful in applications both in government and with- in business firms in the resolution of complex problems.

Jan 1, 1970

By A Golsby

Although much talked about, social licence to operate (SLTO) is a relatively new concept that has been deemed as one of the four biggest business risks to a mining project over the life-of-mine. There is no accepted single definition of SLTO and this author understands SLTO to be stakeholder perception of the legitimacy of a project, a company or an industry. At a specific site, and across different sites within the same organisation, SLTO ranges through different levels according to stakeholders’ degrees of acceptance in time and space. Management of SLTO is vital for the mining sector but is difficult as it is informal and intangible. Although there are no key performance indicators, there are certain indicators that enable relative measurement of the ‘level’ of the SLTO. Because of the importance of the SLTO, information management during the entire life-of-mine, from exploration to rehabilitation, becomes crucial for the continued operation of a project. This paper identifies ten basic principles for the management of information to support the SLTO.CITATION:Golsby, A, 2014. Managing information to support a social licence to operate, in Proceedings Life-of-Mine 2014 , pp 389–398 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

Most of the Indian coking coals are medium coking and of very high ash content. Beneficiation of these coals is a must for their utilisation in coke making. During washing while the ash content of the coal is reduced, the same is expected to affect the reactive-inert ratio and the proportion of various petrographic constituents in the clean coal. This will affect the coking behaviour, including the expansion characteristics, of such coal. An increase in expansion behaviour of coal increases the wall pressure and may damage the battery wall. Therefore, close monitoring of coking properties along with drop in ash is necessary for smooth use of the coal in coke ovens. An effort is, therefore, essential to understand the impact of washing on its coking properties. The studies were carried out with captive coals of Tata Steel, India. Three medium coking coal samples namely, VII A, VI A and XI SEB seam coals of West Bokaro Colliery were used for the study. The coal samples after washing to different ash levels were subjected to the following analysis: proximate, crucible swelling number (CSN), LT GK test, dilatometer and plastometer tests and petrography. The experimental data were then analysed to assess the relationship of various coking properties of the coal with its ash content. The studies clearly show that there is a strong impact of beneficiation of the coal on its coking behaviour. The impacts are more at lower level of ash in the clean coal. In general, the coking properties increase with a decrease in ash. This is primarily due to an enrichment of vitrinte materials in the clean coal and an increase in the reactive-inert ratio in the coals. However, the most important impact of the lowering ash is on the increase in the swelling nature of the coal. The coals with lower ash become highly expanding in nature. This may be very critical from operations of coke ovens point of view, especially stamp charged coke ovens. Necessary precaution should be taken in selecting the other coal blend constituents when these coals are beneficiated to a very low level of ash content.

Jan 1, 2014

By A. J. Kraemer, H. M. Thorne

The following account of oil-shale operations in Australia is based upon infor- mation obtained by the authors while visiting Australia from September 15 to October 7, 1947, supplemented by published data, and augmented by analyses of samples of oil shale and its products at the Oil-shale Research and Development Laboratories of the Bureau of Mines at Laramie, Wyo. The primary objective of the authors' trip to Australia was to obtain, first hand, information regarding the equipment and methods used by National Oil Proprie- tary, Ltd., at Glen Davis, New South Wales, in mining oil shale, extracting oil from it, and refining the shale oil. This company was operating the only oil-shale plant that had been active in Australia since 1945. The plant comprised an oil-shale mine, 104 modified Pumpherston (Fell) retorts in 2 batteries, a hele refinery, and a 3-inch gusoline pipeline to the railroad loniing terminal t Sun Junction, 30 miles away. There were, also, the usual and necessary any uralities, such as a power house, mechanical shops, offices, and laboratories One Information regarding the company's operations was wance because of its bear- Ing upon the synthetic liquid fuels program of the Bureau of Mines, pursuant to the Synthetic Liquid Fuels Act of April 5, 1944 (30 U.S.C., 321-325, as amended). objective of the Bureau's program. In accordance with the maniate of the Act, is to furnish American industry cost and engineering data necessary for the development of synthetic-liquid fuel industry, and an obvious means of obtaining some of these data is to learn how oil shale is being mined and retorted and how shale oil is re- rined in countries where these operations have been conducted on a plant scale for many years. The authors spent 2 weeks at the plant of National Oil Proprietary, Lt., at Glen Davis, and were afforded every opportunity to obtain letailed and specific information regarding all aspects of the company'a operations.

Jul 1, 1951

By Charles W. Merrill

AN ADEQUATE, dependable, and continuing supply of raw materials is indispensable to tile the United States and its industries in meeting the needs of an expanding Population, a rising standard of living, and the national security. The primary responsibility for appraising the status of the country's mineral supply and for making appropriate recommendations within the executive branch and to the Congress has been pinned in the U.S. Department of the Interior. In fulfilling its role of governmental responsibility for raw-material supplies and their efficient utilization, the Bureau of Mines has analyzed the factors in current and future mineral supplies and demands and has developed 87 statements for specific commodities that assess the national position and problems for these metals, minerals, and mineral fuels. These statements, which constitute the chapters of this volume, are based on lire assumption that nearly till production and consumption of materials in the United States are to be by private individuals and organizations, in accordance with the Nation's devotion to a private-enterprise economy.

Jan 1, 1960

By P. N. Anyalebechi

A comparative study of the mechanical properties of automotive steering knuckles produced by three different shape-casting related processes has been conducted. It involved the characterization of the tensile and fatigue properties of aluminum alloy A356 knuckles produced by the vacuum/pressure riserless casting (VRC/PRC), pressure counter pressure casting (PCPC), and the hybrid Cobapress (a casting-forging) processes, in accordance with the appropriate ASTM standards. Surprisingly, the knuckles produced by the hybrid Cobapress process exhibited the lowest strength. For example, the average 0.2% yield strength of the Cobapress knuckles was 31 MPa and 40 MPa less than that of the VRC/PRC and PCPC knuckles, respectively. However, between stresses of 150-200 MPa, the fatigue lives of the VRC/PRC, PCPC, and Cobapress knuckles were comparable. But above 200 MPa, the Cobapress knuckles exhibited the lowest fatigue life. The observed differences in the mechanical properties are attributed to the inherently different microstructures of the different knuckles.

Jan 1, 2009

As shown in Table 9, consumption has risen steadily for the period November through April, reaching its highest level since June of 1974. Imports remained at a relatively high level in spite of decreased imports from Zaire and Belgium-Luxembourg. Award prices for cobalt sold by the General Services Administration on June 17, 1976 ranged from $5.058 to $5.41211 per pound of contained cobalt. The high bid was about $1 per pound above the current market price set by the major sales agent in the U.S. for cobalt on April 15, 1976. COPPER: Eight domestic producers on July 1 hiked refined copper prices by 4¢ to 74¢ per pound for cathode and to 74.625¢ for electrolytic wirebar. New York Commodity Exchange (COMEX) June pricing of prompt contracted copper averaged 70.6¢, with daily quotes registering between 67¢ and 72.5¢ per pound. In June, London Metal Exchange (LME) cash wirebar prices averaged 70.3¢, trading between a low of 65.5¢ and a high of 73.6¢. End of the month copper stocks totaled 108,758 short tons for the COMEX and 539,350 metric tons for the LME.

Jan 1, 1976

By AIME AIME

R. A. Hadfield, W. H. Bleckly, The Rt. Hon. Sir James Kitson, Bart., M. P.', E. Windsor Richards, E. P. Martin, Andrew Carnegie, Sir Hugh Bell, Bart., Bennett H. Brough. Patrons. Adamson, Joseph, & Co., Hyde; Aird, John, & Co., London ; .Akrill, C., & Co., Ltd., West Bromwich ; Anderson Foundry Co., Ltd.,. Port Clarence, Middlesbrough ;. Armstrong, Sir W. G., Whitworth & Co., Ltd., Newcastle-on Tyne ; As¬sociated Portland Cement Manufacturers (1900), Ltd., London; Babcock & Wilcox, Ltd., London; Baird, William, & Co., Ltd., Glasgow ; Baldwin's, Ltd., Stourport; Barclay, Andrew, Sons & Co., Ltd., Kilmarnock; Barrow Hematite Steel Co., Ltd., Barrow-in-Furness; Bayliss, Jones & Bayliss, Ltd., Wolverhampton ; Beardshaw, J., & Son, Ltd., Sheffield ; Bell Brothers, Ltd., Middlesbrough ; Bolckow, Vaughan & Co., Ltd., Middlesbrough ; Booth, Joseph, & Bros., Ltd., Leeds ; Briton Ferry Works, Ltd., Briton Ferry; Butlin, Thomas, & Co., Ltd., Wellingborough ; Butterley Co., Ltd., Alfreton ; Byrne, James, & Co., Middlesbrough; Cargo Fleet Iron Co., Ltd., Middlesbrough.;. Carnforth Hematite Iron Co., Ltd., Carnforth ; Cochrane & Co., Ltd., Middlesbrough ; Coltness Iron Co., Ltd., Glasgow ; Colville, David, & Sons, Ltd., Motherwell ; Consett Iron Co., Ltd., Consett ; Cooke, William, & Co., Ltd., Tinsley ; Craggs, R., & Sons, Ltd., Middlesbrough ; Darwen & Mostyn Iron Co., Ltd., Mostyn ; Dorman, Long & Co., Middlesbrough ; Dunlop, J., & Co., Ltd., Glasgow ; Ebbw Vale Steel, Iron & Coal Co., Ltd., Ebbw Vale ; Engineer, The, The Proprietors. of, Lon¬don ; Engineering, The Proprietors of, London ; Etna Iron & Steel Co., Mother¬well ; Farnley Iron Co., Ltd., Leeds ; Firth, Thomas, & Sons, Ltd., Sheffield ; Rather, W. T., Ltd., Sheffield ; Fraser & Chalmers, Ltd., Erith ; Frodingham Iron & Steel Co., Ltd., Doncaster; Gjers, Mills & Co., Ltd., Middlesbrough ; Glenboig Union Fire-Clay Co., Ltd., Glasgow ; Glengarnock Iron & Steel Co.; Ltd., Glengarnock ; Guest, Keen & Nettlefolds, Ltd., Birmingham ; Hadfield's Steel Foundry Co., Ltd., Sheffield ; Hall, J. & E., Ltd., Dartford ; Harkness, W.; & Sons; Ltd., Middlesbrough ; Harrison & Co., Ltd., Lincoln ; Head, Wrightson & Co., Ltd., Stockton-on-Tees ; Hill, John, & Co., Middlesbrough ; Hingley, N., & Sons, Ltd., Dudley ; Hopper, John I., Ltd., Thornaby-on-Tees; Hull Forge Iron &-Steel Co., Ltd., Hull; Iron and Coal Trades Review, The Proprietors of, London ; Ironmonger, The, The Proprietors of, London ; Jackman, Joseph, & Co., Ltd., Sheffield ; Jessop & Appleby Bros., Ltd., Leicester and London ; Jes-

Nov 1, 1906

Contributions made by mining have played a much more significant role in the development of civilization than is generally conceded by historians or recognized by ordinary citizens. In modern society, mined products pervade all industry and the lives of all civilized people. Early man relied largely on stone and ceramics, and eventually metals, to fashion tools and weapons. Civilization was advanced by discoveries such as abundant supplies of high-quality flint in northern France and southern England and firesetting to break rock. Middle Eastern cultures flourished not only because of agriculture and trade, but also because of mineral-rich deposits nearby. The earliest miners date back perhaps to 300,000 BC; their quest was for nonmetallic minerals (chert, flint, obsidian) suitable for utensils and eventually for weapons. Other rocks and minerals (ceramics, clay, salt, meteoric iron) attracted the miners for jewelry, cosmetics, construction materials, food seasoning, and coinage. At first, their excavations were confined to the surface, either pits or placers. But by about 40,000 BC, mine workings had been extended underground as short adits or shafts, and by 8000 BC as elaborate interconnected openings 300 ft (90 m) in depth. Metallurgical separation of metals from their ores and their subsequent fabrication evolved gradually over the centuries, copper being the first liberated (c. 7000 BC) followed by lead, silver, gold, and iron. Man enhanced both the sophistication of his

Jan 1, 2008

By EDWARD B. DURHAH

(San Francisco Meeting, UCtober, 1911.) THE refinery at the San Francisco Mint takes the bullion purchased by the receiving department, and carrying more than 200 parts of precious metals in 1000, or, in mint parlance; over 200 fine, and separates and refines the various metals contained therein, using electrolytic processes exclusively. Bullion containing silver is treated in cells charged with a nitric electrolyte. These cells produce fine silver and leave a residue rich in gold. The residue from the silver-cells, together with crude gold-bullion, is treated in cells having a chloride electrolyte. These produce fine gold and leave a residue containing silver chloride. The latter is reduced to the metallic state with zinc and is then treated in the silver-cells. The various waste solutions and the wash-waters, after being freed from the bulk of their precious metals, still contain copper and other metals. These are removed by scrap-iron, and are then treated in the copper-cells, having a sulphate electrolyte. These cells produce pure copper, and collect a residue containing lead, some gold and silver, and all the metals of the platinum group that were in the bullion. This residue is relatively small, and is melted into bars and stored until sufficient accumulates to warrant treating it for platinum, etc. The refinery occupies three large and three small rooms. The large ones are, a melting-room, 30 by 34 ft.; a cell-room, 39 by 46 ft.; and a wash-room, 30 by 33 ft. The small rooms are used as foreman's office, laboratory, and generator-room, respectively. The methods here described are those in use in December, 1909, when notes for the present paper were taken.

Oct 1, 1911

By Alicia O'Reardon

DIFFIDENTLY, because don'ts are rarely greeted with cheers; humbly, because I, myself, have never lined up with the irreproachables, I venture on the subject of manners for the mining camp matron. Mining camps can be divided roughly into two types-the large, opulent settlement that blooms like the rose about a strong mine in full operation; and the puny group of adobe huts, or calamina shacks, or even canvas tents flung down in the wilderness to shelter the gay pioneers of a shining prospect or the shattered survivors of a lost hope. Of the first, I know nothing; but in the second, I have spent some of my best years, and from its curious code of morals and manners, its comic hates and its unreasoning loves, its high impatience and its engulfing kindness, I have charted the narrow .and pitted path which must be trod by the woman who would success¬fully live therein.

Jan 1, 1936

By D. S. Yantek, C. B. Brown

The mining industry is beginning to implement lithiumion batteries (LIBs) to power mine utility vehicles (MUVs) and rubber-tired mantrips (RTMs). However, the ability of LIBs to withstand the harsh conditions for these applications has not been rigorously evaluated. Concerns with the use of LIBs in the mining environment will be discussed including the effects of mechanical shock and vibration, temperature extremes, and moisture exposure. This paper will discuss adverse effects of the mining environment on LIBs and provide an overview of scientific gaps associated with the environmental susceptibility of LIBs used on MUVs and RTMs.

Feb 1, 2024

New Copper Deposit in Chile. - The recent copper discovery in Chile, made jointly by U.S.-owned Empresa Minera Utah de Chile, Inc., and Getty Mining Chile), Inc., awaits the passage of Chilean legislation which is expected to govern the terms of new foreign investment in the country's mining sector. Named La Escondida, the discovery is reported to have the potential for producing 100,000 tons of refined copper per year. This compares with Chile's total refined primary copper production in 1980 of 811,000 metric tons, and to U.S. refined primary production in 1980 of 1,122,000 metric tons derived from domestic material, and 89,000 metric tons from foreign material. U.S. Firms Buy Chilean Properties. - A bid of $18.1 million, made jointly by Chevron and St. Joe Minerals Corp., won over competing bids for the purchase of the Libra and Mena gold-silver-copper deposits in northern Chile. Chevron is the lead partner and owns 70% of the venture. The two properties purchased have not been developed to any significant extent. They are located near St. Joe's El Indio gold-silver-copper mine. The venture is also looking at the possible purchase of two other mines in the area.

Jan 1, 1981

By S. J. Hussey

This Bureau of Mines report presents a discussion of the statistical approach to the design of experiments and indicates, by concrete examples, how and when statistical design is essential for obtaining meaningful data with a minimum number of experiments. Every research worker plans his work and designs his experiments in a manner which, based on his experience, seems most rational to him and which he believes will produce the information essential for resolving the problems. If the results obtained are open to multiple interpretations and are not of definitive reliability, the failure of the experiment design to produce the desired information may be due to several causes, These include faulty judgment in selecting the factors to be tested, ignoring the importance of interaction between factors, failure to adequately control test variables, and assuming that meaningful trends in the results can be identified without comparison to a predetermined experimental error. An experienced researcher probably will deduce from the nature of the data obtained that the design is faulty and may by trial and error ultimately arrive at the correct solution to the problem. Statistical methods of planning research minimize the chance of faulty experiment design, embody concrete procedures for testing the validity and reliability of the test data and for indicating mandatory changes in the design, and enable the researcher to obtain meaningful information with the least number of tests.

Jan 1, 1963

By William K. Connor, O&apos

The U.S. Bureau of Mines (USBM), in cooperation with the American Society of Mechanical Engineers (ASME), conducted over 200 hours of melting tests to vitrify residues from five municipal waste combustion facilities. Combined residues (grate residue and f1yash) from three municipal waste combustors, a waste water treatment sludge combustor, and flyash from a refuse-derived-fuel (RDF) boiler, were sequentially melted in a I-metric-ton (mt) water-cooled-wall electric arc furnace. Each of the residues underwent magnetic separation, screen size analysis, and bulk chemical analysis prior to melting. The furnace products were examined by optical and electron microscopy and by X-ray diffraction. Bulk chemical analyses were acquired for the metal, fume, and vitrified furnace products. The material balance for the furnace operation indicates that from 69 to 86 pct of the feed reported to the vitrified furnace product, which had leaching potentials well below the EPA limit for each metal, as determined by the EPA TCLP. The electric arc melting furnace currently is being utilized in a cooperative research project between the USBM and the Idaho National Engineering 'Laboratory (INEL) for melting tests on simulated low-level radioactive wastes,

Jan 1, 1991

Workers at the Consolidated Aluminum Corp. primary aluminum smelter at Lake Charles, LA walked out at midnight March 31 when their contract expired. Management personnel operated the smelter and prebaked carbon anode facilities until an agreement for a new 3-year contract was reached April 18. The Aluminum Company of America (Alcoa) began operations at its can recycling facility at Taylor, MS. The facility can process 3 million pounds per month of aluminum and steel cans. Alcoa announced plans to increase the capacity of its aluminum paste and flake production plant at Logan's Ferry, PA by 50 percent. Completion was scheduled for mid-1980.

Jan 1, 1979

By Keith L. Harris

Real2 gross national product (GNP) grew at a seasonally adjusted annual rate of 1.3% in the fourth quarter and at 2.5% for all of 1986, according to the most recent Department of Commerce estimates table 1). The 1986 GNP growth was the lowest since the recession in 1982, and was slightly below the estimate published in the last issue of Minerals and Materials. Barriers to greater economic growth in 1986 included the Federal budget deficit, the trade deficit, reduced energy-sector investment because of low oil prices, and uncertainty over changes in the Federal tax code.3 Major sectors of the economy responsible for the fourth-quarter growth included real Government purchases of goods and services, up $19.9 billion from the third-quarter level; real net exports, up $12.2 billion; real residential investment, up $3.0 billion; and nonresidential fixed investment, up $1.5 billion. The increase in Government purchases of goods and services was attributed to the S25.1 billion rise in net purchases of farm products by the Commodity Credit Corp-oration. Real personal consumption expenditures and inventory investment declined, however. Personal consumption expenditures declined primarily because of reduced motor vehicle purchases. Despite only modest growth during the fourth quarter, the economy improved significantly because of the narrowing of the trade deficit and growing employment (table 2) while maintaining low unemployment and inflation rates. Business sounded an optimistic note, with planned increases in current-dollar capital spending of 0.9% for 1987 compared with a 1.7% decrease in 1986. While it is primarily the nonmanufacturing industries that expect to increase investment from 1986 levels, some manufacturing industries are increasing investment by significant percentages as well, notably the steelmaking and nonferrous metals industries (table 3).

Jan 1, 1987

By Keith L. Harris

Economic activity in the United States picked up in the third quarter, according to the latest estimate released by the Department of Commerce. Real gross national product (GNP)--the Nation's output of goods and services--grew at a seasonally adjusted annual rate of 4.3%, or $17.6 billion, compared with a rate of 1.9% for the second quarter of 1985 and 1.6% for the third quarter of 1984 (table 1). The 4.3% rate is one percentage point above the preliminary estimate reported in the August/September issue of Minerals and Materials. Most of the upward revision was due to the change in business inventories and Government purchases, while the figure for net exports was revised downward substantially. The 4.3% growth bettered by 1.5% the average rate of growth in GNP from 1974 through 1984 and was 1.1 % above that of the period from 1975 through 1984 and 0.7% above that of 1980 through 1984. Of importance to the minerals industry was the $14.4-billion growth in personal consumption expenditures, $10.2 billion of which was for durable goods (especially domestically produced automobiles) and the growing residential investment. The net export deficit continued to grow, however, and investment in nonresidential structures, producers' durable equipment, and business inventories declined. Prices, as measured by the GNP fixed-weighted price index, increased at an annual rate of 3.1% in the third quarter, compared with 3.9% in the second quarter. The slower rate of inflation resulted mainly from a decline in energy prices, following second-quarter increases. Fourth-Quarter Prognosis Many of the economic data available for October and November indicate that the economy is growing modestly and will continue to grow over the next 3 to 6 months. The composite index of leading indicators, designed to predict economic activity within 3 to 6 months, rose 0.3% in October, the sixth consecutive monthly advance, according to the Department of Commerce. Six of the 11 available leading indicators were positive: Stock market prices rose, as did sensitive material prices, credit outstanding, and manufacturers' new orders for consumer goods and materials; initial claims for unemployment insurance decreased, and firms were getting slower delivery of goods. Four of the indicators were negative: Business formations, homebuilding permits, contracts and orders for plant and equipment, and money supply all declined. The average hours worked per week, already at a high level, remained unchanged.

Jan 1, 1985