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By Thomas F. Connors

The end of an era is here. The pony-express era of industrial relations in the coal industry is ending. Those professionals who know it must end to insure the industry's future are happy, relieved, but somewhat saddened. They are sad because it did have its elements of suspense, thrills, frustrations, and at times, plain fun. The days of the Company town are ended; the wildcats are declining; violence (while a big part of today's industrial relations) is beginning-to decline. The spirit of sound industrial relations is beginning to take hold. This has to happen for the industry to compete in today's economy and it is causing major changes for those who have grown accustomed to the pony-express type industrial relations.

Jan 1, 1981

With the advent of the environmental "green" movement of the 1960s, eventually leading to Earth Day 1970, Congress responded by passage of the National Environmental Policy Act (NEPA), 1970. NEPA gave impetus to a flood of federal acts and laws in the subsequent three decades. Many of those protecting man's environment, health, and well-being also affect mining. For purposes of this chapter, a current mineral law summarization lends itself to a division into two parts: viz., Part I, General Mining Law, and Part II, Enviromining Law. The word enviromining has been coined by the author and is defined and used herein as those federal and state statutes and regulations that were created to provide protection and preservation of man's environment, health, safety, and welfare, and they have particular application to and affect on mining activities. They are listed and treated under Enviromining Laws in Part II. Mining, as a basic industry to provide the essential minerals for mankind's necessities and well-being, truly reflects the mining industry's slogan, "If it can't be grown, it must be mined." Without the basic minerals and rocks won from the earth by mining and mineral processing for their valuable physical properties or chemical constituents, man would soon be forced to revert to the cave-dwelling age. Unfortunately, for man to survive in the "manner of life to which he has become accustomed," he is caught between the demands of cleaning up his deteriorating environment and a continued supply of his basic requirements and amenities for daily living supplied by mining of the earth's minerals. He must have "clean living" at the same time with "good living;" neither is expendable. A very high pricetag accompanies this essential and critical choice which must be paid by society. The United States is internationally recognized as the world leader in environmental matters. Many countries are following suit, principally the other Anglo nations. Because US law is founded and based on English law, on occasion, Anglo-American law is referred to and cited as authority in litigation anywhere in the Anglo-American world of jurisprudence. For this reason, and because mining and the industry is international in nature and operations, some British Commonwealth cases will appear in various topics. If the case is of interest to the reader, further inquiry at a law library may be made through use of the case's style and citation given. "Style" refers to the name of the litigating parties. "Citation" refers to the law publication in which the case and decision may be found, as well as the jurisdiction and court of decision. Citation of cases from the United States and British Commonwealth nations is explained under Case Citation Explanation. Space and time limit exhaustive treatment of subjects and covering all geographic and jurisdictional areas. This chapter is intended as a broad outline and is based on the author's master's thesis at the University of Missouri-Rolla, 1992. The following Case Citation Explanation provides guidance on formatting of citations.

Jan 1, 1994

By Steve Skelhorn, Dan Ifrim

"A tunnel project poses many challenges; the operation of the Tunnel Boring Machine (TBM) being one of them. Mechanized tunneling is known as a safe and effective alternative to other methods in terms of schedule and cost; however, efficiency can be severely affected by a bad TBM selection and qualification and employment of inexperienced operators. The success of a mechanized tunneling project involves a comprehensive and interdisciplinary consideration of all contributing factors such as TBM technical specification and selection, TBM design and procurement including ancillary equipment and tunnel linings. The tunnel equipment selection along with the operation can make or break the project. The objective of this paper is to address the importance of the skills and qualifications of the TBM crew with particularity to the TBM Operator. The study includes the Owner and Consultant involvement in the selection and pre-qualification of the TBM crew and specifically the TBM operator as well as the role of Contractor and TBM manufacturer in TBM operator training. This paper also analyzes the possibility of issuing a TBM operator certification, and discusses the benefits and significance of periodic training and certification programs. INTRODUCTION Training in the tunneling industry is not a new topic. The industry continues to evolve and become more complex with technology advances and expansion of mechanical tunnelling to mechanized shaft construction, large diameter drilling and mining industry applications. The need for professionals trained to operate mechanized tunnelling equipment is ever increasing, while there is a significant number of veterans who will be ageing out in the next 5 years. Consequently attracting young professional is a very important aspect of sustaining a qualified pool of professionals. For any given tunnel project, the owner and the engineer spend up to several years, studying the ground conditions during preliminary and final design. Post contract award the contractor spend additional months studying the ground again to develop the optimum means and methods for construction. All this time and money spent at the beginning of the project has the purpose of developing the optimum tunnel design, assessing the risk associated and implementing mitigation measures to reduce risks to acceptable levels. Following the tunnel design process, sophisticated TBMs are being specified and sourced to ensure the best tool for the job. The question raises here: Are there available experienced/trained professionals capable of operating these sophisticated machines?"

Jan 1, 2016

By A. E. Ketler

Conventional Atmospheric Monitoring System (AMS) installations for monitoring CO, CH4, O2 and air-velocity throughout underground mines are usually relegated to a modest 3-5 mile extent and with data communication speeds confined to a ponderous 1-5K baud range. New US-MSHA and state regulations require fast reporting of unsafe conditions, and the old 20-30 minute updates are no longer acceptable. To communicate farther and faster has always been a problem, because data reliability degenerates with excessive distances and high speeds. Because of this, very large mines often resort to costly optical-fiber media, using expensive OF cables and repeaters to obtain the necessary coverage. This entails high initial cost, as well as high maintenance and downtime costs to repair or replace broken optical fibers. Rel-Tek has pioneered with its DX-Bus communication data highway, which uses inexpensive twisted-pair telemetry cables, which can now communicate well into the 20-mile extent of the largest mines -- normally a brick wall for low-tech AMS systems. This extended range, enables the use of twisted-pair cables and provides a low cost alternative to OF systems. This paper discusses the DX-Bus, and its latest accomplishment, the ?B-LINK,? a unique high-speed communication repeater that maintains the 19.2K-Baud data rate. On-going innovations to our workhorse Millennia-DX computer software have kept pace with this extra speed/distance phenomenon, resulting in a dually-optimized AMS package: both hardware and software. Cost savings are substantial, and at no sacrifice of reliability ? nearly always at 100%. Sensor updates are measured in seconds, not minutes and hours. Twisted pair copper cable is cheap to purchase and install and a breeze to maintain. Rel-Tek uses the B-LINK's wide branching capabilities to enable the AMS to extend 20-miles both far and wide. Actual experience in large US coal mines -- both longwall and continuous mining operations -- confirms the large mine performance. The ventilation and safety benefits to the mining industry are immeasurable.

Jan 1, 2009

By R. B. Hopler

Explosives R&D has historically been motivated by coal mining. Whether to solve safety problems or to improve productivity and cost, the result has been the same: better explosives products and initiation systems. This process continues at an accelerated pace today due to the tools presently available to the explosives and mining industries.

Jan 1, 1993

By M. Michael, A. Felber

"Mining activities, especially underground mining operations, create great demands on utilized haulage means which cover a variety of different horizontal and vertical distances. In the course of the continuous optimization of the haulage process, the application of textile machine elements, in particular synthetic fiber ropes, offers new opportunities. Therefore the current level of knowledge needs to be improved based on extensive analyses. For the estimation of the scope of these analyses, different fields of application and occurring environmental influences which have an impact on synthetic fiber ropes during their use in underground mining have to be evaluated. The Chair Underground Mining Methods of the TU Bergakademie Freiberg works on a scientific project concerning the use of synthetic fiber ropes in underground mining operations. This paper focuses on the potential application of synthetic fiber ropes in haulage systems in underground mining and exposes critical influences as an outcome of the working environment. These first investigations are the basis for the development of an appropriate experimental series. SYNTHETIC FIBER ROPES FOR UNDERGROUND MINING OPERATIONS The main idea is to optimize underground haulage means to develop even more economic systems. The new and lightweight design of single machine elements seems to be the first step to accomplish this goal. An example is the lightweight design of shaft hoisting ropes. The commonly used steel wire ropes are very heavy and are endangered to snap due to their own weight when reaching a distinguishing length. Thus they may not or only conditionally be used for deep mining operations utilizing shaft haulage. Ropes made of high-tech synthetic fibers weigh only an eighth of steel wire ropes while displaying the same tensile strength. This relation is shown in Figure 1, based on the comparison of fiber strength and density. This could offer new opportunities for deep mining operations, which are anticipated by many mining companies. /1/"

Jan 1, 2015

By Theodore J. Williams

Computer control has been one of the fastest moving and most glamorous fields of industrial development in the past decade. A review of this period shows some truly remarkable accomplishments in both system development and applications. In addition, work now under way promises results which will continue the rate of progress of the past. This paper will review the history and status of the field of computer control and point out the major breakthroughs which have occurred. It will analyze the present trends and extrapolate them to predict the early future developments in the field.

Jan 1, 1968

By A. Opara

The weathering of coal mine waste rock releases iron, calcium, sulfate and associated trace elements like selenium [Se], which are introduced to seepage waters. Nitrogen species, such as nitrate and ammonia, are also found in association with coal-mining drainages mainly due to leaching of residual blasting compounds. Elevated concentrations of Se are a ubiquitous occurrence in coal mining environments in British Columbia, with values ranging from below 50 to over 500 µg/L in site waters. Selenate is the most common form of selenium found in waste rock seepages, and is exceedingly mobile in aerobic freshwaters. A major concern with waterborne Se in British Columbia is the potential for its bioaccumulation in aquatic food chains. Treatment to remove Se from coal-mining wastewaters has proven to be challenging for conventional water treatment technologies. Compounding this challenge, many streams are characterized by high flows and low selenium concentrations. Conventional membrane and ion exchange treatments produce concentrated brine streams that are difficult to treat or require disposal. Conventional biotreatment systems use excess nutrients to provide the required electrons to compensate for inefficient and variable electron availability, as well as to adjust reactor chemistry. The Electro-Biochemical Reactor (EBR) technology provides electrons to the microbes directly at a low voltage potential (1-3 V), supplying a controllable and consistent supply of useable electrons to the system and microbes at low current. In this manner, the EBR technology overcomes the shortcomings found in conventional systems, as it reduces the required nutrient addition and provides a more controllable, efficient, economical, and robust biotreatment system than found in past generations of biological treatment systems. Additionally, the EBR process does not produce excess solids or biomass; therefore, solids management post-treatment is not required. Laboratory EBR bench-scale and on-site pilot-scale systems were used to treat five British Columbia coal mine wastewaters; influent Se concentrations ranged from 35 µg/L to 531 µg/L. Se treatment targets for the tested waters ranged from 5 to 10 µg/L. Mean Se concentrations in EBR effluents ranged from 0.5 µg/L to 1.4 µg/L, while reducing sulfate concentrations. The test data demonstrate that the EBR technology is an effective Se removal option for British Columbia?s coal-mining wastewaters.

Feb 23, 2014

By A. Opara

The weathering of coal mine waste rock releases iron, calcium, sulfate and associated trace elements like selenium [Se], which are introduced to seepage waters. Nitrogen species, such as nitrate and ammonia, are also found in association with coal-mining drainages mainly due to leaching of residual blasting compounds. Elevated concentrations of Se are a ubiquitous occurrence in coal mining environments in British Columbia, with values ranging from below 50 to over 500 µg/L in site waters. Selenate is the most common form of selenium found in waste rock seepages, and is exceedingly mobile in aerobic freshwaters. A major concern with waterborne Se in British Columbia is the potential for its bioaccumulation in aquatic food chains. Treatment to remove Se from coal-mining wastewaters has proven to be challenging for conventional water treatment technologies. Compounding this challenge, many streams are characterized by high flows and low selenium concentrations. Conventional membrane and ion exchange treatments produce concentrated brine streams that are difficult to treat or require disposal. Conventional biotreatment systems use excess nutrients to provide the required electrons to compensate for inefficient and variable electron availability, as well as to adjust reactor chemistry. The Electro-Biochemical Reactor (EBR) technology provides electrons to the microbes directly at a low voltage potential (1-3 V), supplying a controllable and consistent supply of useable electrons to the system and microbes at low current. In this manner, the EBR technology overcomes the shortcomings found in conventional systems, as it reduces the required nutrient addition and provides a more controllable, efficient, economical, and robust biotreatment system than found in past generations of biological treatment systems. Additionally, the EBR process does not produce excess solids or biomass; therefore, solids management post-treatment is not required. Laboratory EBR bench-scale and on-site pilot-scale systems were used to treat five British Columbia coal mine wastewaters; influent Se concentrations ranged from 35 µg/L to 531 µg/L. Se treatment targets for the tested waters ranged from 5 to 10 µg/L. Mean Se concentrations in EBR effluents ranged from 0.5 µg/L to 1.4 µg/L, while reducing sulfate concentrations. The test data demonstrate that the EBR technology is an effective Se removal option for British Columbia?s coal-mining wastewaters.

Feb 23, 2014

By Erik Marsh, Frederick C. Harris Jr., Javad Sattarvand, Joshua Dahl, Alireza Kamran Pishhesari

Based on the mine safety and health administration (MSHA)reports, mining truck accidents are among the significant causes of fatalities in the mining industry. The major causes of haulage accidents can be divided into non-driving and driving factors, such as truck-related sudden failures and operator performance. Numerous parameters affect trucks' safe operation, but situational awareness plays a significant role. Due to the distinct structure of mining trucks, making them efficient for mining purposes, the operator has a very limited field of view (FOV), making them prone to accidents resulting in losing lives. The cabin's position blocks the truck's right and rear sides, creating several blind points around it. Aiming to test/train the operator's awareness of the surrounding, a proximity detection system is developed through a multiplayer virtual reality (VR) application to investigate the human factor in equipment collisions. The operators were examined and monitored when asked to conduct what exactly happened in the Marigold mine truck accident without being aware of the scenario. After receiving sound, vibration, and visual alarm warnings, their reaction and performance were analyzed. The platform is developed using the Unity game engine for HTC VIVE virtual reality goggles. An Omni-direction treadmill and a motion simulator platform are utilized for the player and dump truck operators. Fifteen students were monitored when driving the dump truck receiving/not receiving proximity detection alarms. None of them repeated the accident when receiving proximity alarms. Also, they found the visual alarm the most comfortable while driving the truck.

Jun 25, 2023

By James Corcoran, Richard McLane, Joseph DeMello, Eric Carlson, Hans van de Vrugt

The Los Angeles County Transportation Authority’s Purple Line Extension Phase 1 is a $3.12 billion (USD) design-build, underground heavy rail project, connecting an existing station at Wilshire Boulevard and Western Avenue and extending west 3.92 miles under Wilshire Boulevard and terminating approximately 550 feet west of Wilshire/La Cienega Station. The project alignment runs through the heart of the world famous La Brea Tar Pits and one of the world’s largest urban oil elds. This paper presents a case history of the planning, design, and construction efforts to achieve successful construction of the bored tunnels through Reach 3 of the alignment. Further, this paper outlines the proactive partnership between the owner, Los Angeles County Metro (Metro), the Design Builder, Skanska-Traylor-Shea oint enture (STS), and Southwest Geophysics who provided the geophysical services. Specically, the project included background review of historic site data (e.g., oil eld maps, building foundation plans, historic aerial photographs, etc.), geophysical demonstration testing to ascertain the capability of borehole magnetics to detect oil wells, directional drilling of thousands of feet of horizontal and vertical boreholes, collection of high resolution magnetic gradiometer data along vertically and horizontally cased boreholes as well as the collection of surface magnetometer data, discovery (“ground truthing”) of detected geophysical anomalies, and abatement of potential obstructions within the tunnel alignment.

Jun 23, 2024

By G. L. Smit

The Buffelsfontein Gold Mining Company is situated in the Klerks-dorp district of the Province of the Transvaal in the Republic of South Africa, approximately 100 miles west of Johannesburg. Gold production commenced in January 1957 and Uranium treatment of residue slimes as a by-product started in July 1957. The mining property is 5435 mining claims in extent, the equivalent of 7,988 acres or 12.5 square miles. The mine was initially exploited by the Pioneer Twin Shaft System, consisting of a 26 feet diameter down-cast shaft and a 22 feet diameter up-cast shaft, sunk in the north-west area of the mine to cater for the hoisting and ventilation requirements for a milling rate of 150,000 tons per month.

Jan 1, 1964

By R. B. Toombs

In describing the Canadian mineral industry in a world setting, this paper examines the industry from four points of view. First, mineral industry growth is related to trends in economic activity thereby providing a measure of the industry's importance in the Canadian economy. To give perspective to the Canadian scene, reference is made to economic trends in several of the world's leading mineral producing and mineral consuming countries. The Canadian mineral industry is next examined in terms of its major developments of the past 20 years and the resultant size, structure, and production diversity of 1964. The position of the Canadian mineral industry in the world industry is then analyzed by tracing changes in mineral supply and demand patterns. Growth of the Canadian industry depends greatly on expansion of export markets because three fifths of the value of production is accounted for by exports. Finally, attention is directed to the outlook for the Canadian mineral industry. Problems facing the industry are surveyed, and an appraisal is made of economic policies that have encouraged industry growth. A forecast of mineral production value in 1970 is included.

Jan 1, 1964

By Jacques B. Wertz

Recurring movements remotely connected with the Murray fracture zone and the San Andreas fault complex, together with the slow northwestward drift affecting the Baja California peninsula, could progressively have accentuated the tensional situation already connected with the anticlinorium in southern Arizona. From the fragmentary data gathered on the Texas lineament, it appears that a very mild curvature, concave to the northeast, may be present along this belt throughout Arizona. Those localities where the successive changes in direc¬tion of the strands of the lineament belt seem to occur do generally coincide with intersections of both north-northwestern and northeastern breaks. It is along the outward, southern fringe of the belt (at such structural centers like Bisbee, Baboquivari, Ajo) that the greatest impact of regional movements could be expected to have occurred through tangential-torsional stresses. Although it si accepted that the north-northwestern and more particu¬larly the northeastern fractures in Southeast Arizona are propitious to or partially responsible for mineralization, it seems undeniable that the Texas lineament belt must have greatly increased the potentialities for ore throughout the Arizona copper province. While intrusive bodies occur near major intersections, with the Texas lineament belt as a common denominator, it seems, the ore deposits are to be found close to one of the intrusive stocks, varying in distance from contiguity (Bisbee) to one or two miles away (Silver Bell orebodies).

Jan 1, 1970

By Stephen Njoloma, William Bracken, Harald Cordes, Ivan Hee

"DC Water’s First Street Tunnel (FST) is part of the $2.6 billion Clean Rivers Project designed to reduce the occurrence of combined sewer overflows into local waterways. Due to flood events in the Bloomingdale and LeDroit Park neighborhoods, the FST Project was accelerated by DC Water to mitigate future flooding by boosting storage capacity and thus relieving the undersized combined sewers.The FST Project was finalized in 2016 as a collaborative effort between DC Water, its consulting team consisting of Greeley & Hansen and McMillen Jacobs Associates, and the design-build team of Skanska, Jay Dee Contractors (SKJD) with WSP Parsons Brinckerhoff as the designer.Scope of project. The FST Project (Fig. 1) included four primary shaft sites, a large 6 m (20 ft) internal diameter, 823- m (2,700-ft) long bored tunnel and three adit connections from the off-line shafts to the large-diameter tunnel. The adits which vary in size and length, are the subject of this article. The Channing Street site (Fig. 2) was established as the main site for an Earth pressure balance tunnel boring machine (TBM) and included a 49-m (160-ft) deep shaft with slurry wall support of excavation and 20-m (65-ft) internal diameter final cast-in-place permanent concrete liner. The construction sites at Adams Street, V Street and Thomas Street each consisted of off-line shaft structures tied to near-surface sewer diversion chambers and ventilation facilities. These three off-line shafts were connected to the large bored TBM tunnel via adit tunnels. Each of the three adits had a portion or the entire length excavated by sequential excavation method (SEM) in frozen ground.The Adams Street adit (Fig. 3) was constructed in two phases. The first phase is the 23-m (75-ft) long and 5-m (16-ft) diameter section immediately outside the drop shaft which also serves as the deaeration chamber and was excavated by SEM. The second phase which is 91 m (300 ft) long and 3 m (10 ft) in diameter was excavated by Micro TBM (MTBM) launched from within the permanently lined deaeration chamber. MTBM excavation commenced toward a reception chamber that was excavated by SEM from the previously bored FST TBM tunnel. This SEM excavation had a 5 m (17 ft) diameter and a length of 4.5 m (15 ft)"

Jan 3, 2018

By Basilio Giurgola, Jeremiah M. Jezerski, Filippo Azzara, Federico Bonaiuti, Russell H. Lutch

The Northeast Boundary Tunnel Project consists of a 23 ft diameter, 27,000 ft long, CSO tunnel, multiple underground connections, and significant surface works within an urban corridor. The NEBT alignment depths range from 60 to 140 ft and includes seven shafts ranging in depth from 77 to 155 ft with diameters varying from about 19.5 to 56 ft, some as in-line connections and others required adits for connection to the main tunnel. This paper focuses on the design and construction of two major underground connections which are the First Street Connector Tunnel and the Mount Olivet Road Diversion Sewer.

Jun 13, 2023

By A. C. Bigley

Before going into this subject, I would very much like to call to your attention some past history on patents granted by the United States Patent office that involved ammonium nitrate. On February 10, 1885, a patent was granted to Russell S. Penniman. "The object of this invention is to securely protect ammonium nitrate against deliquescent and to maintain it in substantially its normal disintegrated condition, so as to afford a new product suited for ready use in the manufacture of high explosives, and enable the immediate admixture thereof with any of the well known explosive substances or compounds heretofore employed. 'Whether the nitrate be thus granulated or otherwise reduced to a granular or divided condition, it is then thoroughly mixed with about twelve (12) percent of the fluid or semi-fluid carbonaceous protecting medium, which forms a readily applied jacket or coating for the granules of nitrate and also serves as a carbonaceous element in such explosive compounds as it may thereafter be employed in."

Jan 1, 1958

By Gabriele Eccher, Michele Caponero, Paolo Cucino, Roberto D’Angelis

"This paper describes the optic fiber structural monitoring system implemented for Pavoncelli Bis tunnel. The paper highlights the optic fiber sensors customization capabilities, how they smoothly fit precast concrete lining processes and TBM operations, and how a lifelong service monitoring can be achieved. An overview of readings’ evolution during excavation concludes the paper.INTRODUCTIONPavoncelli Bis is a 10 km hydraulic tunnel designed to by-pass the existing Pavoncelli tunnel which experienced severe damages during the 1980 Irpino-Lucano earthquake, in south of Italy (Barla 2009). Pavoncelli Bis excavation work commenced in 1988-90, however, when excavation approached pk. 0+583 in 1992, water percolations became more and more consistent and resulted in work suspension. The tunnel was eventually sealed at pk. 0+383, leaving a flooded section between pk. 0.383 and pk. 0+583. Work resumed in 2012 where EPB-TBM excavation was adopted to cross the flooded section and to overcome complex hydro-geological conditions in various lito-types and, in particular, in the Varicolori Clay-shales area (Figure 1).Consequently, stress evolution monitoring is extremely important during construction and during the service life of tunnel lining in clay-shales and in faults areas. In particular, the paper focuses on the monitoring system proposed for the newly EPB-TBM excavated portion from pk 0+583 onwards where optic fiber sensing technology was chosen for its reading stability and reliability in presence of water and its ability to be connected in series and remotely interrogated at kilometers of distance. FBGS OPTICAL FIBER SENSOR TECHNOLOGYFiber Bragg Grating Sensors (FBGS) are gaining increasing attention in the field of experimental stress analysis. Basically, Fiber Optic Bragg Sensors are strain-measuring devices and therefore provide many of the advantages of the well-known metal foil strain gages (Kreuzer 2007).Bragg gratings are written into so called single-mode fibers. These fibers consist of a very small inner core of 4 to 9 µm diameter and an outer part (cladding) of pure glass (SiO2) of 125 µm diameter. The difference of refraction indexes between inner core and cladding causes the light to propagate only inside the small core."

Jan 1, 2016

By Walter B. Hester

All persons and communities that have experienced strong-motion earthquakes are convinced of the importance and complexity of earthquake problems thatmust be solved in order to reduce the personal hazards and property losses to a reasonable minimum. It is also clear that absolute elimination of all risks is impossible. Reduction of existing hazards and precautionary measures which will minimize chances for disaster can be accomplished by realistic appraisal of the effects of recent earth- quakes on modern structures and installations. Localities that have reason to expect so-called strong- motion earthquakes can anticipate these effects by taking appropriate steps. Valid earthquake information can only be obtained from earthquakes. Each earthquake contributes to the body of knowledge by additional facts and by clarification of previous observations. Rational interpretation of the data followed by practical application of the conclusions can contribute greatly to the safety of persons and property. The general public expects the architectural and engineering profession to accept this obligation and render this service. Most earthquake hazards are man-made and arise from the imperfections of the works of man and his failure to anticipate the consequences when the natural characteristics of his environment are ignored. If it is not given to man to prevent such natural phenomena as earthquakes, it is sometimes within his power to control their destructive effects and to reduce to a minimum the toll of life and human suffering.

Jan 1, 1958

By Paul Sarnoff

The economics of precious metals -- depending upon who is involved --could be the economics of hope, of fear, indeed of profit and perhaps survival. For those investors seeking capital gains in a puzzling economy, precious metals involve the economics of hope. Those who are convinced that currency soon won't be worth the paper it's printed on turn to precious metals because of the economics of fear. Gold and silver have been a storehouse of wealth since biblical times. The economics of fear during the past 500 years on the Continent has caused almost every European family to make sure a private stockpile or hoard of gold, silver or coins is at hand in case the paper currency of their country undergoes the kind of disaster that came to the German Mark after World War I. Understandably, for mining companies involved in the production of precious metals, the elements of operations and management are directly concerned with the economics of profit -- and perhaps survival. To the American miner the price of precious metals in the marketplace is a matter of daily concern. After decades of selling silver to the US Government at 64.64 cents an ounce, producing silver mines suddenly became faced with prices breaking $5, $10 and $20 per ounce, and approaching $50 an ounce during the period 1978-1981. What should the miner expect one year in the future? Five years?

Jan 1, 1981