IC 6166 Accident Cost And Mine Safety

The coal and metal mines of the United States furnish this country with a large part of the fuel and material necessary to support our industries and thus make possible the welfare and prosperity of our people and even the continuance of our present-day scale of civilization. Mining companies furnish material to industry with one general purpose in mind -- the making of a profit on their work. Efforts are being made successfully and continually to reduce operating costs, to increase production per man, and to perform work as far as possible mechanically and with more efficiency. These efforts are made primarily to reduce costs, to increase production, or to do both - in other words to make more profits or more certain profits. In the endeavor to reduce expense companies are considering more and more the factors which enter into costs of production, among them the factor of accidents and their cost. This paper endeavors to estimate the approximate cost of accidents to the mining industry in order to present the saving possible through accident reduction or elimination.