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By J. David Lowell

This paper describes the geology of the Kalamazoo copper orebody discovered in the course of an exploration project carried out by Quintana Minerals Corporation under the author's direction in an area immediately southwest of the San Manuel mine, Pinal County, Arizona. In the period 1943-1947, exploration projects were carried out in the San Manuel area by the U.S. Bureau of Mines and Magma Copper Company which resulted in the development of the San Manuel underground block-cave mine which is now in production at a rate of 41, 000 tons per day. Mining claims covering the area immediately west of the San Manuel orebody were staked in 1946 by Frank F. Salas, R. A. Buzan, H. G. Buzan, and W. C. Buzan of Mammoth, Arizona. These claims were optioned to Martha Purcell in 1946, and in the period of 1947-1958 seven churn drill holes ranging in depth from 1,400 to 2,950 feet were drilled by Mrs. Purcell. These holes did not intersect ore and no further deep exploration was attempted prior to the Quintana Minerals project which began in August, 1965, and which is described in this report. The Kalamazoo deposit is in Sections 3, 4, 9, and 10, T 9 S, R 16 E, Pinal County, Arizona, and it is reached by driving seven miles east from Oracle, Arizona (Figure 1) . The writer is indebted to Corbin J. Robertson and Ronald B. Thompson who participated in the exploration planning of this project and to a number of other individuals who contributed to its execution and management. Petrographic work by J. M. Guilbert was used as a basis for rock and alteration classifications.

Jan 1, 1968

By Niels Jonassen

INTRODUCTION The occurrence of the radioactive element radium, [2gg~a], often in trace amounts, in the crust of the earth gives rise to a flux of the daughter product radon, ['ii~n], across the earth-air interface. This so-called exhalation process has been studied by many investigators [KO 45, Kra 64, Pe 66, Wi 741] over several decades. In the earlier investigations the exhalation process was studied in a purely geophysical context, but over the last 20 years it has been realized, that under certain conditions the exhalation may be intense enough to also have radiological implications. This is for example the case where relatively radium-rich wastes or by-products, like uranium mill tailings and phospho-gypsum, are stored in larger quantities. In order to be able to predict the radiological impact on the environnent it is necessary to know the rate of exhalation of radon from the surface of the exhaling material. Usually the determination of these exhalation rates has been done by measurements in situ directly upon the accumulated material [~le 74, Ha 791. Although such field measurements have the obvious merit of dealing directly with the full scale problem, the results are often lacking in generality, making predictions for other situations difficult or even impossible. The present paper describes some results of an investigation where it is attempted from laboratory measurements on samples of limited size to obtain material parameters, which are suited for extrapolating and predicting the radiational behaviour of larger accumulations of the material. THEORY Let us consider a sample of a radon exhaling material enclosed in a container with a dead space volume, Vd, and initially containing radon free air. If the total exhalation rate (number of atoms per unit time) is c, the radon concentration (number of atoms per unit volume) N will initially grow with the time t according to the equation [ ] where [R] is the decay constant of radon. As the concentration (or activity) in the container grows, the net exhalation rate will slow down because of back diffusion, and, furthermore, radon atoms may be removed from the container, not only by radioactive decay, but also by diffusion leakage [JO 81 ]. If, however,only the initial. part of the activity growth curve is considered, the total exhalation rate, c, is given by [c = r•Vd(2) where r is the initial activity growth rate in the container. Let the container be cylindrical with an inner cross-section S and filled to a height L with a radon exhaling material with the specific mass p, the porosity E, the radon pore production rate f and the diffusion length i. When the container is left open,i.e. the radon exhalation takes place into a virtually radon free room, the radon area exhalation rate, E, can be written [Jo 80] E = Ef?t tanh L.R (3) assuming the exhalation only takes place in one direction, towards the surface of the material. It appears that for values of L > 2•ithe area exhalation rate becomes E a = Efi (4) independently of the sample dimensions and the total exhalation rate c is then c = E •S (5) For L ;~ 0.5•i, tanh P _ k and equation (3) may be written E ~ EfL (6) then c = EfL•S = p•m= Em •m (7) where m is the mass of the sample and Em = P (8) is the mass exhalation rate. It thus appears that the radon exhalation rate from a given amount of material may often be conveniently expressed by c = E •Sfor L z 2•I (5) a orc = Em •mfor L0.5•i (7) where S is the total exhaling area and m the total exhaling mass, E and E the area and mass exhalation rates respectively defined by equations (4) and (8).]

Jan 1, 1981

By Jonathan G. Price

The 2011 report titled ?Energy Critical Elements: Securing Materials for Emerging Technologies? by the American Physical Society?s Panel on Public Affairs and the Materials Research Society surveys potential constraints on the availability of these elements and identifies five specific areas of potential action by the United States to ensure their availability: 1) federal agency coordination; 2) information collection, analysis and dissemination; 3) research, development and workforce enhancement; 4) efficient use of materials and 5) market interventions. Energy-critical elements (ECEs) are a class of chemical elements that currently are critical to one or more new energy-related technologies. A shortage of these elements would significantly inhibit large-scale deployment, which could otherwise be capable of transforming the way in which energy is produced, transmitted, stored or conserved. The report addresses elements that have not been widely extracted, traded or used in the past, and therefore are not the focus of well-established and relatively stable markets (such as carbon in coal or uranium as fuels, copper, aluminum, nickel and iron, all of which are clearly vital in energy applications).

Jan 1, 2011

By Frank F. Aplan, G. Rinelli

INTRODUCTION Coal is a solid, combustible mineral substance resulting from the degradation and alteration of vegetable matter largely in the absence of air. In this natural process of coalification, some non-combustible mineral matter is always associated with the combustible material. Coal preparation or cleaning is the process of removing this inert mineral matter from the coal. Preparation is highly successful in removing the large fragments of inert material, but is not very effective in removing the fine inorganic mineral matter intimately associated with the coal. Of the 600 million tons of coal produced in the United States every year, approximately one-half is produced by coal cleaning methods (1). The bulk of this tonnage is cleaned by coarse or intermediate gravity preparation methods (5 inches to 28 mesh, Tyler). Fine cleaning, say, -28 mesh, is done by shaking tables, washing cyclones, and flotation, or, until recently, the fines were either incorporated into the clean coal or simply discarded--not infrequently, the latter. In 1972, only 13 million tons of raw coal were cleaned by flotation in the United States, and from this 8.4 million tons of clean coal were produced (1). The percentage of clean coal produced by flotation in Europe (England, West Germany, Poland, U.S.S.R., etc.) is substantially higher. However, coal flotation has grown rapidly in the United States from only a few plants in 1950 to 31 in 1960 (2) and 66 in 1970 (1). Virtually all new preparation plants incorporate flotation into their basic flowsheet. The essential difference between ore and coal flotation is that for ores the entire tonnage is ground to flotation size, whereas for coal

Jan 1, 1976

By Hans Ehdwall

INTRODUCTION Investigations of radon and radon daughter concentrations in Swedish [non-uranium] mines started in the late 1960's. The first screening measurements showed that the average annual exposure to radon and radon daughter products was 4.7 WLM. The main reason for high radon and radon daughter concentrations was inefficient ventilation and radonrich water entering the mine. In the radon regulations worked out later it was stated that no miner should be exposed to more than 60 000 pCi h/1 equilibrium equivalent concentration of radon annual exposure, corresponding to 3.6 WLM. Now, 1981 the situation has changed considerably. From the average annual exposure of 4.7 WLM in 1970 it is now only 0.7 WLM. Sweden has up to now had only one [uranium] mine and the work there has only been investigative. However, there are plans for a commercial uranium mine in another part of Sweden. The radon problems in these mines are widely different depending on the mineralogy. NON-URANIUM MINES The radiation problems in Swedish mines were not recognised until the late 60's. The first radon and radon daughter measurements were made in some sulphide ore mines in 1967 (1). The radon and radon daughter concentrations were surprisingly high for non-uranium mines. In order to have a complete picture of the radon situation in Swedish mines the National Institute of Radiation Protection (NIRP) decided to make measurements in all, at that time about 60 mines (2). To get results as fast as possible measurements on radon gas seemed most appropriate to start with. Sampling was made by mailing a number of evacuated 4.8 litre conventional propane containers from NIRP to each mine. The containers were then opened at the place of interest. After sampling the containers were sealed and then mailed back to the institute for measurement. The measurements were made in ionization chambers. This method only gave the radon concentration and the radon daughter concentration was estimated by multiplying the radon concentration by an assumed equilibrium factor. The equilibrium factor is defined as the ratio of the total potential alpha energy for the given daughter concentration to the total potential alpha energy of the daughters if they are in equilibrium with the given radon concentration. The results of this first preliminary survey indicated that a great many of the Swedish miners probably had an annual radon daughter exposure of more than 3.6 WLM. As the radiation exposure in non-uranium mines was not regulated in either the Swedish Radiation Protection Act or the Swedish Labour Protection Act work was started on special radon regulations. A lung cancer mortality study was also started. To check the results of the first survey and to get experience and knowledge of radon problems in mines, it was decided that personnel from the NIRP should visit each mine for a detailed investigation of radon and radon daughter concentrations starting with the ones with the highest radon concentrations. The main reasons for these so-called "basic measurements" were: 1. To estimate the doses received by Swedish miners 2. To find the sources of the high radon and radon daughter concentrations 3. To find appropriate counter-measures 4. To determine the most typical equilibrium factor for each mine. Unlike most uranium mines the reason for high radon concentrations in non-uranium mines is seldom the occurrence of highly radioactive minerals. The main sources were found to be waste-rock and radon-rich water. In order to filter and warm up the inlet air, especially in winter time, it was very common at that time to suck the air through broken wasterock. By doing so the air was contaminated with radon from the waste-rock and radon-rich water in it. It is noteworthy that the radium and uranium concentration in the waste-rock is relatively low. The uranium concentration is only of the order of 15 - 20 ppm. The action to prevent this contamination of the inlet air was to change the direction of the ventilation and in the case of radon-rich water entering the mine the action was to prevent the air coming into contact with the water. The first calculation of the radon daughter exposure of Swedish miners was based on radon gas measurements. The radon daughter concentration was estimated by using an assumed equilibrium factor of 0.5. Later when the mines were visited by institute staff it was possible to compare the assumed equilibrium factor with the measured ones. It was found that the factor varied from 0.15 at the air inlet to 1.0 at the air outlet and the average equilibrium factor on workplaces for almost all mines was between 0.4 and 0.6. The result of the exposure calculation in 1970 showed that more than 40 % of the miners had an annual radon daughter exposure of more than 3.6 WLM. The overall average was 4.7 WLM and the maximum annual expo-

Jan 1, 1981

By B. Pesic

This is an extension of the work on recovery of silver and manganese from Ag-Mn ores, and recovery of silver and gallium from flue dust from phosphate industry. Carbon adsorption was considered as the most adequate method for recovery of silver from thiourea leach solutions. For this reason it was decided to examine the characteristics of adsorption of silver on activated carbon. Coconut hard shell activated carbon was used for this study. Ag(TU)2C1 complex was dissolved into thiourea solution to give 2 gpl stock solution. Thy studied parameters were: loading isotherms at 25°C, 35°C, and 45°C, initial kinetics as a function of thiourea concentration, temperature, pH, N2, and O2. It was found that the loading capacity of carbon for silver and thiourea was 137-150 mg/g and 514 mg/g, respectively, at 25 °C.

Jan 1, 1986

By G. D. Hood

The U.S. Bureau of Mines investigated rapid froth flotation through more efficient bubble-particle collisions that improved the overall flotation kinetics. An in-line static mixer efficiently mixed the bubbles, water, and ore, selectively attaching these bubbles to the hydrophobic mineral's surface. As the mixture entered the flotation chamber, the hydrophobic mineral was already attached to the bubbles and was quickly floated away from the remaining ore pulp. The rapid flotation system was evaluated for beneficiation with a western porphyry copper ore containing 0.67 pct copper, and a phosphate-bearing amine flotation tailings sample containing 9.5 pct P2O5 in a quartz matrix. Over 88 pct of the copper was recovered from the ore in a rougher concentrate containing 5.9 pct copper at a rate 7 times faster than conventional flotation. Sixty percent of the quartz in the phosphate-bearing sample was floated at a rate 4 times faster than conventional flotation. The unfloated product retained 80 pct of the phosphate in a l6.9-pct P2O5 concentrate.

Jan 1, 1993

By Per H. Fahlstrom

The story of the Aitik mine begins in the early thirties. At that time blocks of low grade chalcopyrite impregnations were found in Swedish Lapland not far from the present mine, some 40 miles north of the arctic circle in the vicinity of the iron ore field at Gällivare. The ore prospect was viewed upon several times. By means of geophysical studies and an extensive diamond drilling programme during the end of the fifties and the beginning of the sixties a huge low grade ore body was discovered under the muskeg overburden. In 1965 55 million tons of ore with 0.5 % Cu was known to a depth of 160 ft. In 1970 the ore reserves had increased to 165 million tons with 0.40 g, Cu at a depth of 400 ft. Decision to develop the mine and to start production at an annual production of 2,2 million tons was made in 1965. A mine and concentrating plant, the A section, went on stream in 1968. In 1970 decision was made to expand the production with 3,3 million tons pr year. A second section of the plant, the B section, went on stream during the end of 1972 and the beginning of 1973 The production in the initial plant has been increased to 3,1 million tons pr year and during 1974 the combined A and B sections are expected to treat' about 7,2 million tons of ore. The two sections will treat 10,000 and 13,000 tons per day.

Jan 1, 1974

By J. H. Bassarear

Conventional crushing and grinding circuits are compared to semiautogenous circuits. Recent installations of each circuit are reviewed and seven methods of using autogenous or semi- autogenous techniques are described. Steel and power consmption data are reported and benefits of a dedicated digital computer are discussed.

Jan 1, 1981

By W. Linwood Haden

Fullers earth has been mined since about 1920 in southwest Georgia and the adjoining area of Florida. In 1935, the mineral was named "attapulgite" after the source of a sample near the town of Attapulgus, Decatur County, Georgia. Mining and processing of the clay was described in a 1930 publication1 at a time when petroleum refiners were the major users. In the years since then, the uses and users of attapulgite have multiplied, and both mining methods and processing methods have been changed to optimize the clay for the new uses. A comprehensive review of the properties and applications of attapulgite 2 has been published. Only a brief review will be given here to explain the properties being sought and to show how these properties are optimized by mining and processing practices.

Jan 1, 1972

By Xinzhi (Thomas) Du

"A longwall mining method is a productive mining method of coal extraction that involves the complete removal of large, rectangular panels of coal. Since this method causes deformations through the overlying strata to the ground surface, the surface- and ground-water regime above the longwall panels may be adversely affected and drained into the lower strata. The purpose of this study is to determine the effects of longwall mining subsidence on surface- and ground-water systems.This study is a site-specific hydrogeologic analysis conducted before, during, and after panel retreat at a site located over two selected longwall panels in the Pittsburgh coal seam in Greene County of Pennsylvania. Mine subsidence causes fractures in the overlying strata and enlarges bedding plane separations, increasing the effective porosity and storativity of the overlying strata. Generally, the water in deeper aquifers located in the lower fractured zone drains into the mine void due to the vertical fractures. Moreover, the water level does not recover after longwall mining (but may recover when the mine is flooded). The upper aquifers over the thick aquitard layers may maintain the water level or drop slightly during longwall mining and recover very quickly. The reason is that the underlying aquiclude layer has less change in porosity and permeability after longwall mining (Carver, 1994).A groundwater flow model-MODFLOW was used to predict the water table contours for the periods of pre- and post-mining conditions. The hydraulic gradients of post-subsidence became larger outside the panels and smaller inside the panels than that of the pre-subsidence. The groundwater hydraulic heads above the longwall panel dropped a maximum 50 ft in the study panels. The shallows monitoring wells that were less than 50 ft deep from the surface were deeply affected by longwall mining subsidence. For the intermediate wells that were more than 85 ft deep from the surface, where strata movement acted as a unit during longwall mining subsidence, there were little impacts of longwall mining on the intermediate wells in the study area. For the deep wells that were located below the Waynesburg sandstone, the water was drained to the underlying strata or even into the mine gob."

Jan 1, 2019

By David Mast, Irwan Halim, Brian Hagan, Kaveh Talebi, Jason Edberg, Amanda Foote

On June 14, 2023 Jay Dee Contractors’ Tunnel Boring Machine (TBM) “Phoenix” holed through and completed mining the second drive of the I-75 Segment 3 Storage and Drainage Tunnel. Completion of the tunnel came only after overcoming several challenges, including a groundwater intrusion event which deposited thousands of cubic yards of wet ground material into the tunnel. This paper will discuss the events which delayed completion of the tunnel by over nine months, the risk management and construction approaches assumed by the Design-Build team during bid, several challenges faced by Design-Build teams when building stormwater resilience tunnels using traditional Department of Transportation standards, and recommendations for improving risk allocation and proposal documents for future similar Design-Build tunnel projects.

Jun 23, 2024

By Gösta W. Diehl

During the past five years the use of all-hydraulic drilling equipment has increased rapidly, and we have now reached a point where the hydraulic drill has become an alternative to be seriously considered for every drilling operation. The hydraulic drills have many advantages over pneumatic drills, but they also have certain characteristics, which makes a potential user hesitate before making the switch. And when the decision to use hydraulic drills has been made, the user then faces another choice of equal difficulty: the choice between different hydraulic systems. This paper discusses some of the factors to be taken into account when considering hydraulic drilling equipment for rapid tunneling in hard to medium hard rock. THE CHOICE BETWEEN HYDRAULIC AND PNEUMATIC EQUIPMENT The choice between a hydraulic and a pneumatic drill is much more than just that: It is a choice between two different systems. The choice is usually based on the productivity, economy or ergonomy of the system. However, also other factors should be considered, such as service capabilities and training requirements. And finally the choice will be influenced by the need to acquire know-how in the new technology. Productivity If the prime consideration is to achieve the highest possible tunneling speed, then the high penetration rates of the hydraulic

Jan 1, 1979

By L. Runqing, H. Yuehua, S. Lei, S. Wei

"Tin ore from the southeast of Yunnan in China is a complex polymetallic low-grade ore. Because of the highly disseminated extent ore, cassiterite flotation was applied in industrial production instead of the low efficient gravitational separation. Benzohydroxamic acid (BHA) was widely used as a collector in cassiterite flotation, but the consumption of BHA was large. In this study, the influence of octanol in cassiterite flotation from the southeast of Yunnan using BHA as the collector was investigated. The results indicated that single octanol showed almost no flotation capability to cassiterite without BHA. However a small amount addition of octanol as the auxiliary collector can decrease the consumption of BHA significantly, while did not reduced the recovery of cassiterite obviously. Infrared spectra analysis indicated that the single octanol adsorbed on the surface of cassiterite was unsteady adsorption, and a new entity assembled of BHA and octanol in a well manner was able to adsorb on the surface of cassiterite steadily. The probable self-assembly structure model of BHA and octanol existing on the surface of cassiterite was analyzed. INTRODUCTION Cassiterite is the prime and economic mineral from which tin metal is extracted economically (Qin et al., 2011). The estimated tin metal resources in the world is about 4.9 million tonnes, about 30.5% of which is distributed in China (Mineral commodity summaries, 2013). Cassiterite has many characteristics such as including heavy, hard, and extremely brittle in nature. Hence cassiterite is preferentially concentrated by gravity separators. However, the influence of particle size on gravity concentration is obviously. The separation efficiency is very high for coarse particles while it drops down considerably for fine sizes. (Turner and Hallewell, 1993). Application of flotation and development of selective surfactants have made it possible to recover fine and ultrafine cassiterite from the gravity tailings. A substantial amount of research work on cassiterite flotation has been reported in the past years. The outcome of such research has helped to develop various collector reagents such as cupferron (Vivian, 1927), sodium dodecyl sulfate (Edwards and Ewers, 1951), sodium oleate (Collins et al., 1968), salicyaldehyde (Marabini, 1978), alkyl and aryl arsonic acids (Senior and Poling, 1986), alkyl and aryl phosphonic acids (Gruner and Bilsing, 1992), alkyl sulfosuccinamates (Khangaonkar and Kamarudin, 1994), and alkyl hydroxamates (Sreenivas and Padmanabhan, 2002)."

Jan 1, 2016

By J. S. Hall

The productivity and fuel efficiency of iron-ore blast furnace operations has greatly increased in recent times. These improvements, particularly to the Japanese steel industry, have primarily arisen from process engineering studies of the blast furnace and associated operations such as sintering. The development of fluxed sinter based on iron-ore fines reacted to produce highly reducible, low slag sinters has contributed further to a reduction in fuel requirements. The Pilbara province of Western Australia is a significant source of these iron-ore fines supplied to the international market. Increasingly, this market is being offered high quality ores from other foreign sources. To technically assist companies in improving the processing efficiency of ores, and to improve the technical marketing of ores by modelling the processing characteristics of Australian/international ore blends, the Commonwealth Scientific and Industrial Research Organization (CSIRO) is actively assisting the industry by researching the general theme of 'iron ore from mine to metal in this paper we outline progress towards a numerical description of: a. ore deposit classification. b. Degradation during transport. c. Direct reduction of iron ore. d. Liquid bath ore reduction/smelting. e. Industrial sintering.

Jan 1, 1986

By W. Clark Ashby

Productivity is a fascinating concept. Like motherhood or apple pie, we know it as a good thing. Just what it means is not so clear. To a coal miner we assume it means tons of coal hauled from the mine. To the company president it means profit after capital, labor, and other costs have also been reckoned. To the government economist it means output in a balance of payments. What does it mean to the biologist, and can reclamation really be productive? In this paper we discuss productivity from a biological viewpoint, give some yield data for various types of reclamation plantings, and discuss how our demand for or acceptance of differing kinds of productivity is tied up in bigger questions of land use, environmental stability, and resource allocation.

Jan 1, 1981

By George R. Stephans

The Climax Mine is a panel caving mine which has had a long history of incidents of severe ground control problems. The nature of the ore deposit, which lends itself to the caving meth- of of production, a1 so makes the mine susceptible to large scale stress concentrations which are referred to as ?weight? problems. These problems have increased with increased production and also with expansion to deeper mine levels. During the past twenty years the mine has had to learn to cope with these problems in order to remain in operation. A number of practical guidelines and useful techniques have emerged from these efforts. The purpose of this paper is to share a few of these ideas. The Mine is located near Leadville, Colorado on the continental divide at an elevation of 3450 meters. The ore body is a large low grade deposit of disseminated molybdenum sulfide. It measures about 1200 to 1600 meters in diameter and it had an original depth of about 660 mters. The Mine has been in operation since 1918 and the massive nature of the ore body together with its blocky, highly fractured condition made it natural for the caving system to have been adopted for production at an early date. Open pit mining was started in 1973. The total plant has a capacity of more than 50 thousand tons per day, and more than 400 million tons of reserves at an average grade of 0.310 percent molybdenum disulfide remain to be produced.

Jan 1, 1982

By Donald M. Podobnik

The Cuajone Concentrator of the Southern Peru Copper Corporation is located approximately 900 kilometers southeast of Lima, Peru, near the 500 year old town of Moquegua, in an area that has been occupied since antiquity. Since the plant was started in July, 1976, the throughput has steadily increased from 36,000 to 46,000 metric tons per day. The widely distributed molybdenite content of the ore body ranges from 0.02 to 0.04% MoS2. The molybdenite content of the copper concentrate has always been sufficient to justify operation of a byproduct molybdenite plant. During the first nine months of 1980, the average grade of the ore was 1.169% copper and 0.026% molybdenite.

Jan 1, 1981

By Donald W. Gentry

Introduction The mining industry is perhaps best characterized by the numerous and abnormally high risks associated with the business of mining and by its most basic assets - ore deposits, people and technology. At the most fundamental level, it is the quality and effective utilization of these basic assets that determine a mining company's ability to compete efficiently in the international market place. The gold industry has received much attention in recent years and especially in recent months, for good reason. This commodity serves as an excellent platform for the subsequent discussion of these three basic assets and their role in mining's future. Facets of the gold industry The fate of this noble metal in recent times illustrates some of the various risks associated with the mining industry and the importance of high-quality assets, whether they be ore deposits, people or technologies. The following comments pertaining to the gold industry help place proper focus on subsequent discussions. All monetary amounts given are in US dollars. Throughout 1997, falling gold prices broke record after record: first hitting three-year lows, then a 12-year low in July and finally an 18-year low at year's end. From Jan. 1 through Dec. 31, 1997, the price of gold fell by more than $2.57/g ($80/oz), or some 22%. The decline in gold-mining profitability and stock prices was even more dramatic. At the beginning of 1997, the 20 largest gold producers in North America had a market capitalization of approximately $44.5 billion. At year's end, this market cap had fallen to $26.2 billion, a reduction of 41%. The total market cap of all the world's gold companies fell from $71 billion to $46 billion, a 35% drop (Serwer, 1998). Analyses suggest that, at a spot gold price of $9.65/g ($300/oz), only one, or possibly two, North American gold-producing companies can make money when break-even or "total costs of production" are considered. While strong hedge positions mitigate this situation in the short term, clearly, this is an industry in desperate straits. For example, write-downs for North American producers in 1997 were approximately $2.5 billion. Speculative short positions in 1997 were near historical record highs and generally exceeded long positions by factors of 9:1 or 10:1. Much of this is driven by some US commercial banks, hedge fund managers and commodity speculators who can significantly move gold prices sharply over short periods of time by selling gold they do not own in the expectation they can buy it back at a lower price before they have to deliver. These signifcant short positions are likely to continue as long as central banks are willing to sell or loan gold to financial institutions that in turn make the gold available to speculators who hope to capitalize on price fluctuations. The Far East accounts for approximately 26% of the annual demand for gold. Including India, the region accounts for 43% of total demand. More than 85% of the physical demand for gold is for investment jewelry in Asia and the Middle East. This demand is extraordinarily price sensitive. The fairly recent turmoil in Asian markets and economies, combined with currency devaluations throughout the region, have made gold more expensive (30% to 50% in local currencies) for those peoples most likely to treat gold as a safe investment haven. Higher interest rates also have reduced the amount of money they have to spend on consumer goods such as jewelry. All of these recent Asian events are deflationary in nature. Deflation, if coincident with rising unemployment, could result in significant dishoarding of gold. There is one key fact to remember when analyzing

Jan 1, 1999

By Horace M. Varner

Under sponsorship of the USBM and later of the DOE, a new type of rotary rock drill has been developed by The Bendix Corporation. Originally developed for the production of holes for the installation of longer than seam height roof bolts, the flexible drill is a useful tool for many drilling applications. This drill allows hands-off or remote production of holes for increased drilling speed and greater operator safety in any strata suitable for rotary drilling. The paper discusses various applications and experience for the flexible drill system in coal mining, metal/nonmetal mining, and for general civil engineering uses. Manual, remote control, and automatic roof bolter modules are also discussed.

Jan 1, 1982