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By E. D. Calvert

The Bureau of Mines, in its effort to promote greater utilization of domestically abundant materials, conducted reasearch on an alternate mold material that has commercial potential for titanium investment casting. Using variations of the conventional lost wax molding process, investment shell molds were formed entirely of fused, calcia-stabilized Zr02 and a Zr02-forming binder. Optimization of binder/slurry properties', stucco grain size and dis¬tribution, and curing practices resulted in a structurally sound investment shell that was distortion free and thermally stable. Small titanium castings, weighing up to 10 pounds, were prepared in unheated molds by both static and centrifugal casting techniques. Microstruc¬tural examination of the castings revealed that mold fill and surface quality were enhanced by centrifugal casting, although good results also were obtained from the statically poured molds. Microstructural and electron microprobe examinations showed that excessive, brittle case formation could be avoided by curing the dried shell molds in air for at least 2 hours at 1,400° C. Increasing curing temperature and time above these levels yielded added bene¬fits. Molds fired in vacuum at 1,500° C for 4 hours yielded castings essen¬tially free of case formation. The tensile properties of as-cast test specimens (no surface conditioning performed) id the chemical composition of representative metal samples showed that castings produced were comparable to Grades C-1 and C-2 unalloyed titanium This indicated that no sifnificant degradation of metal properties resulted from mold/metal interaction.

Jan 1, 1981

By Taghi Sherizadeh, Kutay E. Karadeniz, Dogukan Guner, Samuel Nowak

Seals and build-in-place (BIP) refuge alternatives (RAs) are two main underground structures to isolate an area from the active working zones with different purposes. While seals are used to prevent methane gas that seeps from coal seams and blast pressures from a possible detonation of the contained gas, RAs are used to provide a safe haven for miners who are unable to escape their working locations after an accident like an explosion or fire. The recommended BIP RA designs can be similar to seals constructed with steel-reinforced concrete. Both seal and BIP RA are constructed in different locations of the mines for a period of time, exposed to a certain convergence due to stress redistribution which can change their responses during an explosion. In this study, a steel-reinforced concrete wall to be used in such applications is simulated to examine the structural performance during an explosion for a coal mine model with different strata conditions using dynamic analysis by a 3D distinct element method (DEM) code. The main purpose of this study is to reveal any possible effects or trends on the wall deformation with changes in strata conditions by implementing different combinations of roof, seam, and floor material properties. The model is calibrated by the experiment conducted on a steel-reinforced concrete wall by the NIOSH researchers in the Lake Lynn Experimental Mine. The results show that strong adjacent rock and coal units are the least favorable condition for the survival of the wall subjected to a simulated explosion pressure. The results indicate that changes in the roof and seam conditions can have dramatic effects on the deformation characteristics of the wall when compared to the floor conditions. The results of this study might be enlightening for future BIP RA and seal applications.

Feb 8, 2023

By Ihor A. Kunasz

Lithium minerals occur predominantly in pegmatites that contain mineral assemblages derived from the crystallization of post- magmatic fluids or from the metasomatic action of residual peg- matitic fluids. They have been the traditional sources of raw material for ceramic and chemical industries. With the discovery of the Searles Lake deposits, brines became new sources of lithium, and, today, two brine deposits satisfy nearly one-half of the free world demand for lithium chemicals. Indeed, lithium production from pegmatites has been superseded by brines sources. In the United States, the brines of Clayton Valley, NV, have been exploited since 1964 by Cyprus Foote Mineral Company, a subsidiary of Cyprus Minerals Company. In Chile, Sociedad Chilena de Litio Ltda., an affiliate of Cyprus Minerals Company, is now producing lithium carbonate from the brines of the Salar de Atacama. Recently identified brine deposits suggest that these may well become the prime sources of lithium chemicals. In Bolivia, the government is negotiating the rights to exploit the brines of the Salar de Uyuni. The Salar del Hombre Muerto in Argentina is being evaluated as a future center of chemical production. The brines of the Great Salt Lake of Utah, the Smackover Formation, and the Imperial Valley geothermal field have been defined as important resources of lithium. In Tibet, high concentrations of lithium have been reported in several saline lakes. In the People's Republic of China, lithium may be produced from the brines of the Dabusan playa in the Qinghai Basin. The 1950s saw a great number of lithium companies develop. However, following the termination of the Atomic Energy Commission purchase program in 1959, several companies, such as Maywood Chemical Co., American Lithium Chemicals, and Quebec Lithium Corp., were forced to close their operations. Nevertheless, with the development of new applications in glass ceramics, air conditioning systems, synthetic rubber, and metallurgy (aluminumpotlines), the lithium industry grew steadily. With the potential application of lithium metal in batteries, nuclear reactors, and fuel cells, a steady growth can be foreseen. New products and new applications are likely to stimulate exploration for expanded reserves as well as the search for new sources from which lithium could be extracted economically. Presently identified reserves and production capacity are sufficient to satisfy the conventional market growth of lithium.

Jan 1, 1994

By Staff

Introduction As the Sherritt Gordon property is still in the development stage, . it is rather difficult to write a proper account of the mining methods and milling practice that will be used. While the general scheme of operation will remain the same, there will undoubtedly be many minor changes to meet special conditions which we cannot forsee at the present time. Most of the work accomplished to date has followed the usual routine of preliminary development in the Canadian North. However, we have learned a few things which might be of use to others operating under similar conditions. The most important of these is the saving in power cost made possible by the use of Diesels as against steam power when using wood fuel, and the movement of freight by tractors when rail transportation is not available. Location The property i6 located about 90 miles north of The Pas, or 40 miles northeast of the Flin Flon mine. A branch line from Cranberry Portage, on the?C. N. railway, between Flin Flon and The Pas, connects the property with the outside.

Jan 1, 1930

State ownership of mineral in the ground is not newthe Regalian Right is an ancient concept. And the compulsory purchase of land and the minerals beneath it by the State or a body approved by the State (Fitzgerald, 1952) was a principle well established and enforced in practice over a hundred years ago, when such powers became a practical necessity during the period of railway building in Britain and elsewhere:The acquisition of mineral properties which stand in the way of public construction projects still goes on. But in recent years nationalization is being increasingly undertaken as part of the planned use of national resources, for the closer regulation of economic activities, or merely, so it would seem, as a matter of political expediency or national pride. For instance, the unsevered coal in Britain came under State ownership in 1938 in an attempt to simplify a complex pattern of freehold titles which were impedingplanned mining operations. Later, unsevered minerals became a factor in negotiations arising under various town and country planning acts. The acquisition of the Rio Tinto mines by the Spanish Government implies political aspirations. Or State purchase may even be accidental: it was the easiest course for the Sierra Leone Government consequential upon its failure to prevent widespread trespass over legally-held diamond privileges in 1955.This paper has been prompted by problems that have arisen when properties containing unsevered mineral have been expropriated by the Crown in New Zealand: expropriations, it is true, that have been on a small scale in rela...

Jan 1, 1957

By CHARLES L. WRIGHT

Coals may be divided into six classes-anthracite, semi anthracite, semibituminous, bituminous, subbituminous, and lignite. The first three cla~ can be distinguished by dHferences of composition, particularly the proportions of fixed carbon and the ratios of the fixed carbon to the volatile matter in the cools. The last three classes can be distinguished by di:fferences in physical character, chiefly in color and in manner of weathering. Lignite is brown, not black, and has generally a woody look, but it weathers in much the same way as subbituminous coals. On exposure to the air lignite slacks or crumbles. The lumps check and fall into small irregular pieces that exhibit a decided tendency to separate into extremely thin plates. Hence lignite deteriorates greatly during storage or long transportation. The most characteristic feature of the composition of lignite is a large percentage of moisture. '!his high moisture content reduces the fuel value of freshly mined lignite, and the partial evaporation of moisture, on expooure, causes th6 fuel to check and fall to pieces. Consequently, attempts to increase the efficiency of lignite as a fuel involve reducing its percentage of moisture and increasing its ability to endure storage and transportation. Both these results are accomplished by briquetting.

Jan 1, 1911

By D. M. Hausen

A computer program has been developed by Newmont Exploration to convert mineralogic data by XRD into rock type and ore type classifications. This method has proven useful in identifying lithology from cuttings samples, where percussion drilling was an alternative to expensive core drilling. Computer printouts of rock type and ore type identifications can be generated simultaneously with mineralogic analyses, resulting in a considerable time savings in manual calculation. XRD-computer logging was first applied to the Carlin mine in north central Nevada, and later to the Maggie Creek and Gold Quarry gold deposits, southeast of the Carlin mine. Impure Paleozoic limestones of the "lower plate" Roberts Mountain Formation and the "upper plate" transitional facies have been decarbonatized to altered siltstones and shaley units along vertical faults and permeable stratiform horizons. Advanced stages of decarbonatization were accompanied by silicification. Quantitative XRD data are initially sorted into principal rock type units (limestones, siltstones, dolostones, shales) based on major mineralogic components (calcite, quartz, dolomite, clays). On the basis of relative amounts of less major constituents, descriptive subclassifications (dolomitic limestones, dolomitic siltstones, argillaceous cherts) are made. XRD lithologic data provide assistance in correlating lithologic units, and delineating favorable replacement horizons associated with gold mineralization.

Jan 1, 1982

By T. Holmes, J. Middlemiss

"Agnico-Eagle (AE) has been operating their Kittila Mine in Northern Finland since 2008. The mine has experienced considerable ore flow problems with ratholing, bridging and freezing in their mill feed bin since start up. In the first winter of operation, the entire central portion of the contents of the cylindrical flat-bottomed 2000 tonne mill feed bin froze. Flow was erratic and could only be achieved through small diameter ratholes. To maintain a reasonable, albeit limited, feed to the mill, the bin had to be kept less than ½ full and a portable steam generator was brought in to melt the frozen agglomerates that frequently blocked the outlets. The combination of limited surge capacity and frequent outages required the crushing plant to operate 24/7 and resulted in inconsistent production levels and high operating costs.AE had planned to expand the processing plant to increase throughput by about 30% when they transitioned from open pit to underground ore. These plans presented an opportunity to improve the material handling.To avoid the problems experienced with the original mill feed bin, AE enlisted Jenike & Johanson Ltd. (J&J) to test samples of the ore, and based on the measured flow properties to provide design recommendations to ensure that the new mill feed bin would operate reliably. The new 2000 tonne expanded flow mill feed bin and apron feeder were installed in 2014 and are now supplying almost 93% of the total mill feed with the remaining coming from the original bin.IntroductionIn early 2009, AE engaged J&J to visit their then recently opened Kittila mine and mill in Northern Finland (Figure 1). Over the first half-year of operation, production had been restricted in the ore handling and storage system by flow problems such as ratholing, bridging and freezing including blockages of chutes and hoppers as a result of frozen fines buildup and large frozen agglomerates. AE wanted to increase production in the existing open pit mine and mill feed operation and also wanted to avoid similar ore handling problems when they commissioned the new underground mining system under development at that time."

Jan 1, 2017

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

By J. S. Hansen

To advance technology that can conserve critical materials, the Bureau of Mines investigated a cast-on hard-surfacing that wear resistance and confines alloy additions to wear-prone surfaces. Wear-resistant material in form is on a polystyrene , the is embedded in a mold of unbonded s and the wear-resistant material is transferred to a cas surface at the time of For low-stress abrasion, derived from high-carbon ferro-chrome had higher wear resistance than did commercially available weld-hard. The microstructure of the was typi-white iron carbides. Free carbon added to the ferrochrome powder produced more M7C3 carbides than did material contained in surfacings made from ferrochrome alone, and improved the wear resistance. Several white iron powders with greatly reduced chromium contents also white iron contain-M7C3 carbides. One derived from white iron powder had wear resistance to that of weld-deposited hard facings. Among the parameters investigated, surfacing thickness was found to have a or influence on diffusion of elements out of the , microstructure, and wear resistance. The results of field tests on bucket-wheel excavator teeth and plowshares with cast-on hard surfacing are given.

Jan 1, 1985

By Jo Katembo, Patty Bwando, Patient K. Ilunga, Yves Kalubi, Emman Mulaj

"From 2010, the dolomite concentration in the ore fed to the Usoke Plant increased, resulting in a significant increase in the gangue acid consumption and Mg build-up in the circuit, and thus an increase in the Mg:Co ratio in the plant solutions. This affected the Co salt grade, reagent consumption, filtration and drying capacity. Efforts were put in place to minimise the acid consumption and consequently the Mg dissolution (such as use of pre-diluted acid), but the benefits were negligible. Various efforts were then initiated by CHEMAF to improve the cobalt plant productivity (quantity and quality) by process changes, dual precipitation and seed recycle. The positive results obtained in the laboratory were successfully implemented on plant scale. A change in the process from a single-stage precipitation with Na2CO3 to dual precipitation using a combination of Na2CO3 and NaOH improved the capacity of the Co salt filtration by 30%, the Co salt grade and drying capacity by 50%, and reduced the reagent consumption by 22%. Implementation of precipitate seed recycle increased Mg rejection by 40%, improving the Co salt grade from 20% to 25%, and yielding a further drop in reagent consumption. INTRODUCTION CHEMAF (Chemicals of Africa), a mining company located in Katanga province of Democratic Republic of Congo (DRC), has been operating since 2003. The Usoke hydrometallurgical plant treats the Cu-Co ore from the Etoile pit to produce Cu cathodes via a leach–solvent-extraction (SX)–electrowinning (EW) circuit and Co salt via a selective precipitation process. The plant was designed to treat run-of-mine (ROM) ore grading 6% Cu and 1.5% Co; but, in 2008, due to a decline in grades, a heavy-media separation (HMS) plant was commissioned to enrich the low-grade ROM (3.5% Cu and 0.5% Co) up to 8% Cu and 1% Co before feeding it to the hydrometallurgical plant. Co is recovered by precipitation of Fe and Al with limestone, followed by Co precipitation as Co carbonate using sodium carbonate (Na2CO3), also known as soda ash. 85% of the final effluent from cobalt precipitation is recycled back to the plant as process water; the balance, 15%, is bled out and compensated for by fresh water top up to control and retard the rate of sodium sulfate build up."

Jan 1, 2015

By Melvin P. Silverman

The literature on methane-oxidizing bacteria is reviewed in regard to (1) the growth and isolation of cultures by special techniques; (2) the distribution of these organisms in nature and descriptions of individual species; (3) the physiology of methane-oxidizing bacteria as influenced by temperature, light, pH, aerobiosis versus anaerobiosis, and carbon and nitrogen sources; and (4) the biochemistry of methane oxidation revealed by studies with intact cells and subcellular systems. Present practical applications of methane-oxidizing bacteria are limited to prospecting for natural gas and petroleum deposits. Desirable areas for future research are discussed as well as some possible applications such as (1) the removal and/or early detection of methane gas in coal mines by intact cells or enzyme preparations; (2) the generation of electrical energy by microbial fuel cells using methane as fuel; (3) the growth of methane-oxidizing bacteria on methane for their food value; (4) the purification of hydrocarbon gas mixtures using methane-oxidizing or other alkane-oxidizing bacteria; and (5) the synthesis of methane from mixtures of H2 and CO or H2 and CO2 by me thane-forming bacteria.

Jan 1, 1964

By Melvin P. Silverman

The literature on methane-oxidizing bacteria is reviewed in regard to (1) the growth and isolation of cultures by special techniques; (2) the distribution of these organisms in nature and descriptions of individual species; (3) the physiology of methane-oxidizing bacteria as influenced by temperature, light, pH, aerobiosis versus anaerobiosis, and carbon and nitrogen sources; and (4) the biochemistry of methane oxidation revealed by studies with intact cells and subcellular systems. Present practical applications of methane-oxidizing bacteria are limited to prospecting for natural gas and petroleum deposits. Desirable areas for future research are discussed as well as some possible applications such as (1) the removal and/or early detection of methane gas in coal mines by intact culls or enzyme preparations; (2) the generation of electrical energy by microbial fuel cells using methane as fuel; (3) the growth of methane-oxidizing bacteria on methane fur their food value; (4) the purification of hydrocarbon gas mixtures using methane-oxidizing or other alkane-oxidizing bacteria; and (5) the synthesis of methane from mixtures of H2 and CO or H2 and CO2 by methane-forming bacteria.

Jan 1, 1964

By Carolina Rouillon

El presente documento señala dos experiencias aplicadas en la mina Yanacocha y Pierina exitosas donde se emplea las geomallas como parte del mejoramiento de suelos blandos con la finalidad de distribuir uniformemente las cargas impartidas por los grandes equipos mineros hacia la subrasante de mina típicamente conformada por suelos con alto contenidos de limos y arcillas húmedas y saturadas. Asimismo, los beneficios obtenidos por usar las mallas, no se limitan al ahorro en costo material de relleno, sino que se logra un mejor desempeño- en tanto optimiza la superficie de circulación de los vehículos mineros, reduciendo los tiempos de operación, así como prolonga los períodos de reparación y mantenimiento.

Sep 21, 2013

By Henry Kreisinger, WALTER T. RAY

In its investigation of more efficient methods for utilizing the coals and lignites in the United States, to the end that waste might be avoided, the value of low-grade coals increased, and the life of the nation's fuel resources prolonged, the technologic branch of the United States Geological Survey carried on a study of the factors involved in the manufacture and use of briquets, including the suitability of various coals for briquetting, the cheapest and most satisfactory binders, and the furnace behavior and evaporative efficiency of briquetted fuel. The investigations had their beginning in the work done at the coaltesting plant at the Louisiana Purchase Exposition, St. Louis, Mo., in 1904, and were continued at St. Louis and later at Norfolk, Va. Accounts of various tests and statements of the conclusions to be drawn from them have appeared in a number of bulletins. a In connection with the work at Norfolk, comparative steaming tests were made in stationary, marine, and locomotive boilers with run-ofmine coal and the same coal formed into briquets of two sizes. The tests in a locomotive boiler that are described in detail in this bulletin were undertaken to add cumulative evidence to work done at other places. They were made possible through the courtesy of the Seaboard Air Line Railway Company in supplying both the locomotive and the coal used. During the trials the locomotive stood on a side track in the shop yards of the railway company at Portsmonth, Va. No running tests were made.

Jan 1, 1911

By K. J. Ladwig

The Bureau of Mines conducted a field investigation of the water quality in inundated underground coal mines in the Northern Anthracite Field, eastern Pennsylvania. Water samples were collected at multiple depths from nine abandoned mine shafts in the Wyoming Basin, ranging from 68 to 650 m (223 to 2,132 ft) in depth and intersecting as many as seven mined seams in a single shaft. The shafts were also monitored for fluid resistivity, fluid temperature, Eh, and pH using downhole instrumentation. The monitoring program showed that the formerly highly acidic mine water is now slightly alkaline. Sulfate concentrations decreased as much as 74 pct in the flooded workings and 54 pct at a mine water discharge from values reported in 1964 and 1968, respectively. These data are consistent with the inhibition of pyrite oxidation and gradual flushing of oxidation products in flooded mine environments. The monitoring program also revealed significant vertical stratification in water quality in five of the nine shafts, each characterized by two easily recognizable zones. The transitions between zones were sharp, marked by rapid changes in Eh, pH, and ionic composition, the upper zones being less contaminated than the lower zones. The development of stratification appears to be a function of shallow localized flow conditions, arising primarily from the relative positions of mine openings and structural features of the coalbeds.

Jan 1, 1984

By James D. Bliss

Sedimentary deposits of pluvial Lake Bonneville are an important source of sand and gravel suitable for aggregate and construction in Utah. Data on Lake Bonneville basin sand and gravel deposit thickness, volume, grain size, percent of fines, and durability were statistically analyzed to detect variations associated with geologic domains, geographic location, Lake Bonneville shorelines, and sand and gravel deposit type, and to construct quantitative deposit models. Analysis showed several trends; (1) sand and gravel in younger shorelines was slightly more durable and the deposits considerably larger in volume, (2) younger shore- lines are also more likely to contain more than one genetic deposit type, (3) the volume of terrace deposits is larger than beach deposits, (4) terraces and beaches are generally thicker than spits and bars, (5) the northern part of the Bonneville Basin contains slightly more durable sand and gravel than the southern part of the basin and is more likely to contain deposits composed of more than one genetic deposit type, aid (6) the Wasatch domain deposits are composed of more than one genetic deposit type more often than deposits of the Basin and Range domain. Three additional conclusions with immediate economic significance are; (1) the median sand and gravel deposit in the Wasatch domain, 360,000 m3 (275,000 yd3), is three times larger than that of the Basin and Range domain (120,000 m3 [90,000 yd3]), (2) the median deposit thickness in the Wasatch domain, 5.8 m (19.0 ft), is nearly twice that of the Basin and Range domain (3 m [lo ft]), and (3) the Wasatch domain also contains slightly larger diameter gravel. These three conclusions are significant because the trend for sand and gravel development in the Bonneville Basin is to move from the Wasatch domain to the Basin and Range domain. Smaller, thinner deposits with smaller diameter gravel will require more surface area to mine than would have been necessary in the Wasatch domain. The result is a higher cost for sand and gravel in construction projects in the Salt Lake City area, especially since the gravel must also be hauled farther.

Jan 1, 2001

By S. James Campbell

Ladies and Gentlemen: Never in the history of our mining industry has the emphasis on public relations been accelerated as much as it has in the last few years. Knowing of your keen interest in this subject I consider it a great privilege that your program committee has asked me here to discuss the crushed stone segment of our industry approach to this important part of our daily business lives. As you are aware, crushed stone operations are present in almost every segment of the country wherever aggregates for construction projects are required. The tonnage of crushed stone produced is second only to sand and gravel - another source of aggregates - and this together with sand and gravel amounts to over half of the tonnage of all mined products in the United States. What is unique about this industry that will be of interest to all of you in analyzing how they have approached Public Relations? The fact that it is so wide-spread is of course obvious, but perhaps a more significant nature of this segment of the mining industry that has brought it more in the limelight of public interest and on a larger scale is the location of a large part of the quarries quite close into the urban area and population centers where you have the greatest demand for aggregate products.

Jan 1, 1969

By C. A. Pickles, D. K. Xia

"In the last few decades, microwave energy has been widely employed in food processing, rubber and plastics curing, and in ceramic sintering. Recently, the application of micro waves as an energy source in extractive metallurgy has received considerable attention from a number of researchers. During the period from the mid-1960s to about 1988, the majority of the research was focussed on the behaviour of materials in microwave radiation. These research activities will continue to be important, since fundamental data on the interaction of microwaves with materials are vital for the successful application of the technology. Since1990, a number of potential applications of microwave processing have been investigated.These include: pretreatment of ores and concentrates, leaching, reduction, preheating of refractories, heating of slags and waste treatment. In this paper, the interaction of micro -waves with materials of interest in extractive metallurgy are reviewed and potential applications are discussed.IntroductionMicrowaves were first used in 1946 for the heating of materials, shortly after radar equipment was invented during the second world war. It was evident that microwaves were very effective for heating water and the technology was quickly adopted for drying and cooking. Since the introduction of the first microwave oven by Raytheon in 1952, many millions of domestic microwave ovens have been sold annually (National Research Council,1994; Atomic Energy of Canada and Voss Associates Engineering, 1990).In extractive metallurgy, microwaves are in the early stages of development (National Research Council, 1994; Atomic Energy of Canada and Voss Associates, 1990; McGill and Walkiewicz, 1987; Bradhurst and Worner, 1990;Peng et al., 1993). However, there are several reasons for the growing interest in the use of this technology in the field of metals extraction. These include the following potential advantages of microwaves: (1) rapid and selective heating of materials; (2) reactions can be catalyzed because the heating occurs on a molecular or atomic level; (3) clean and controllable energy source; (4) the gas volume is reduced and the atmosphere can be controlled as there are no gaseous combustion products; (5) the material is heated internally in comparison to external heating with conventional methods; (6)the temperature of the refractory can be minimized; and (7) the working environment is improved."

Jan 1, 1997

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'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'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