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By Qing Wang, Xiaochuan Xu, Jianping Liu, Xiaowei Gu, Qingyu Zhu

"The ecological costs related to the various optimized production schemes were calculated based on the designed ultimate pit. Moreover, the influence of the ecological costs on the selection of production schemes was discussed. In one designed pit, a series of geologically optimum pushbacks with sufficiently small increment were produced using the floating cone method founded on the principle of the highest metal content. Then all the pushbacks were reordered by the dynamic network diagram. The production scheme with the maximum NPV route was considered as the optimum one. The ecological impacts produced by mining were quantified and the ecological cost calculation models, which contain the direct eco-value loss, the indirect eco-value loss, the eco-restoration cost and the carbon emission cost were proposed. In one big open pit mine case, various production schemes were optimized and the one with maximum NPV was selected without taking into account the eco-costs. The scheme with the maximum comprehensive profit was obtained by calculating the eco-cost of each scheme. The results showed that the best scheme considered with the eco-cost was not the scheme with the maximum NPV. Therefore, the eco-cost presents the effect on the selection of the best production scheme.Introduction Optimizing production scheme is to determine the mining quantities of ore and rock, the pushing position of stope each year, and maximize the NPV of mine. In the theory, production scheming optimization has gone through trial and error (Pana and Carlson 1966), linear programming method (Johnson 1968), mixed integer programming (Gershon 1983), integer mapping (Kim and Cai 1990), dynamic programming et al (Gu et al 2014). In recent years, the study on production scheduling optimization has been focused on two aspects. On the one hand, the study is to solve the investment risk caused by the uncertainties of economic and geological environment (Ramazan and Dimitrakopoulos 2013, Marcotte and Caron 2010, Lamghari and Dimitrakopoulos 2012, Godoy and Dimitrakopoulos 2004, Benndorf and Shishvan 2014). On the other hand, the emphasis of the study was on reducing the problems for the optimization algorithm, to make it more efficient and practical (Cullenbine et al 2011, Shishvan and Sattarvand 2015, Askari-Nasab et al 2011, Nasab et al 2010). However, different production schemes cause different damage of mine land and pollutant emission, thus triggering environment problem. With the improvement of people’s consciousness of environment protection, the environmental issue of mining has been attracting more and more attention."

Jan 1, 2017

By Milton F. Searl

Introduction The urgency of further development of our domestic energy resources becomes more apparent every day. The production capability of existing facilities, taken in the aggregate, declines perhaps 10% per year; imported energy is expensive if available at all; conservation helps reduce demand but eventually will reach a point of diminishing return; new energy sources are promising but past experience, as with nuclear power, teaches us lead times are long and success is not assured. To approach the energy future rationally, it is essential to have some idea of the size of the nation's remaining energy resources, their characteristics, and the degree of uncertainty involved in their estimates. Resources are, of course, only one end of a long chain leading to energy supply to the ultimate consumer. They are an essential element, however, and the only one not under society's control. Given that the resources and a national will to produce the energy exist, it is possible to convert the resources to supply in, generally, an environmentally reasonable manner. However, the process of developing supply takes time. Government must permit access to the resource, and remunerative prices and further evolution of technlogy are required. This paper does not deal with these essentials, but they must not be forgotten. This discussion is limited to coal, oil, natural gas and gas liquids, uranium, and oil shale. Other energy sources are discussed elsewhere in this issue. Crude Oil Conventional crude oil resources are of greatest concern today, given our dependence on imported oil and its rapidly rising price. Estimates of oil originally in place (OOIP) range from 619 billion bbl to 1,094 billion bbl, differing by almost a factor of two (Table 1). This is surprising because the U.S. is a mature petroleum province with over 120 billion bbl produced and over 400 billion bbl OOIP discovered. Differences in the estimates involve differences in the experience of the various estimators, the interpretation of present geologic information and historical statistics, the methodology, and probably the extent (i.e., water depths) for which offshore resources are included. The range shown for the estimate of a given estimator appears to be primarily due to geologic uncertainty. This uncertainty can be measured by taking the ratio of the low and of the high estimate to the expected estimate for that information source. The low estimates range from 0.85 to 0.87 of their respective values. The high estimates range from 1.18 to 1.27 of the expected values. In all cases the high estimate is further from the expected value than the low,

Jan 1, 1980

By Searl. Milton F.

Introduction The urgency of further development of our domestic energy resources becomes more apparent every day. The production capability of existing facilities, taken in the aggregate, declines perhaps 10% per year; imported energy is expensive if available at all; conservation helps reduce demand but eventually will reach a point of diminishing return; new energy sources are promising but past experience, as with nuclear power, teaches us lead times are long and success is not assured. To approach the energy future rationally, it is essential to have some idea of the size of the nation's remaining energy resources, their characteristics, and the degree of uncertainty involved in their estimates. Resources are, of course, only one end of a long chain leading to energy supply to the ultimate consumer. They are an essential element, however, and the only one not under society's control. Given that the resources and a national will to produce the energy exist, it is possible to convert the resources to supply in, generally, an environmentally reasonable manner. However, the process of developing supply takes time. Government must permit access to the resource, and remunerative prices and further evolution of technology are required. This paper does not deal with these essentials, but they must not be forgotten. This discussion is limited to coal, oil, natural gas and gas liquids, uranium, and oil shale. Other energy sources are discussed elsewhere in this issue. Crude Oil Conventional crude oil resources are of greatest concern today, given our dependence on imported oil and its rapidly rising price. Estimates of oil originally in place (OOIP) range from 619 billion bbl to 1,094 billion bbl, differing by almost a factor of two (Table 1). This is surprising because the U.S. is a mature petroleum province with over 120 billion bbl produced and over 400 billion bbl OOIP discovered. Differences in the estimates involve differences in the experience of the various estimators, the interpretation of present geologic information and historical statistics, the methodology, and probably the extent (i.e., water depths) for which offshore resources are included. The range shown for the estimate of a given estimator appears to be primarily due to geologic uncertainty. This uncertainty can be measured by taking the ratio of the low and of the high estimate to the expected estimate for that information source. The low estimates range from 0.85 to 0.87 of their respective values. The high estimates range from 1.18 to 1.27 of the expected values. In all cases the high estimate is further from the expected value than the low,

Jan 9, 1980

By D. Jacobson

There are many different machine design parameters and variables that affect the production of cone crushers in a mineral processing plant. One of these variables is the speed at which the cone gyrates. In June 2012, pilot tests were conducted to determine the production and operating conditions over a wide spectrum of speeds. mining operations will have variations in the ore characteristics and feed rates that result in non optimal use of the crushing energy and inconsistent process control. This study documents the measured variation in production and energy efficiency with two operating modes. Overall, the results match the theory, and the capacity and power fluctuated by 25% and 17%, respectively, when operated at full capacity, with an overall trend of slightly coarser discharge size distribution as the speed decreased. Using a fixed feed rate, the crushers had 4-14% higher production when operating at the optimal speed. Secondary analysis showed that the power draw consistency and magnitude of power spikes could also be improved by optimizing the cone speed. Varying the speed of the crusher can be used to tune the crusher during commissioning, adapt to changing ore conditions over long periods of time or be used as a dynamic input into an advanced control system. each action above would serve to make the crusher(s) more productive, more energy efficient, impove process control and would also have mechanical benefits for the machine

Dec 1, 2013

By Ray Nivens, Umit Turunc, Caroline Sui, Nick Morrison, Douglas Steiner

"In most copper mines and concentrators, mill water is continuously recovered and reused, with fresh water added to make up for losses. When mixed, these water chemistries can lead to severe scaling, especially in pipes, tanks and pumps on the mill water supply side, reducing flows and causing significant production losses.At KGHM Robinson Nevada Mining Company, increases in the fresh water addition ratios resulted in severe scaling problems and premature pump failures thereby jeopardizing plant production. What initially appeared to be a few isolated scaling events eventually unfolded into a recurring pattern of water supply-related production losses with increasing severity. Through completion of detailed root cause analysis, chemistry modeling, laboratory work, in-plant testing and system engineering, the mechanisms of scaling were identified and addressed.Advancements in fresh water addition practices and antiscalant application methods resulted in a stepwise reduction of the mill water scaling. Cost savings and production benefits were significant to the plant’s financial metrics.IntroductionThe production of mineral and metal concentrates using the flotation process requires large quantities of water. Flotation is utilized as the primary means for beneficiation with sulfide ores. Mined ores are crushed and ground into a slurry of 20-55% solids. For each ton of ore, 400-900 gallons of water1 are needed to supply the grinding mill. Additional water is needed in the flotation circuit as well. With many modern mills operating at2 11,000-165,000 tons/day, water supply volumes can be upwards of 3,000 gpm to 100,000 gpm of flow.For plants operating at or above capacity, disruptions and restrictions in water supply flow can have a direct impact on the production and recovery of the metal. Water supply flow can be limited for a wide variety of reasons but of interest are those limitations that are due to mineral scaling. Mineral scaling is the selective point precipitation of inorganic species above saturation concentrations. Precipitated species form flow-restricting deposits in the mill water system (tanks, pumps, pipe and valves), that will eventually impact water supply to the concentrator."

Jan 1, 2017

By James M. Johnson, David Landriault, Frank Palkovits

The term “Paste Technology” was first used in the late 1980’s. It was used to describe a high fines (15 wt% or greater minus 20 microns), low water content backfill material that could be transported underground through a borehole/pipeline distribution system (4” to 8” dia.) at a yield stress similar to fresh concrete (100 to 400 centipoise). This “Paste Backfill”, unlike slurry transported backfills does not segregate into separate solid and liquid phases at low pipeline transport velocities or upon disposal into the underground stope. Paste backfills can consist solely of fine material, or can include fines plus sand and aggregate similar to a concrete mix. Pipeline transport of paste requires that sufficient fine material (minus 20 micron content) is contained within the mix to lubricate the pipeline walls to create a plug flow condition. For concrete, the fine material is supplied through the cement addition to achieve high compressive strength. For paste, the fine material is generally available in large quantities in the form of mill tailings. The paste tailings can be transported underground for use as backfill or discharged on the surface in a tailings management facility (TMF). This natural abundance of fine grained material is not exclusive to mine tailings but is common to many waste streams in many different industries. This makes the disposal of many waste materials very amenable to paste pipeline transport and placement as a non-segregating slurry. The potential use of paste technology for a wider group of waste materials was realized by these authors and others over two decades ago. Through the effort of this small group the use of paste technology has expanded over the years to become recognized as a low cost, environmentally superior, and technologically controllable method of transporting and placing specific material waste streams with a low water content and high placement density. The high yield stress nature of a paste also lends itself well to the blending of one or more coarse waste materials into the fine waste material paste stream. This allows all the waste materials to be transported by pipeline, increases their placement density; decreases the supernatant release/treatment, reduces contaminant mobilization, hydraulic conductivity and oxygen/water reactivity through encapsulation in the paste matrix. The following paper describes the present state-of-the-art use of paste technology in the world today. It also describes future uses of the technology that are under development and speculates on the overall use of the technology for waste management in the future.

Jan 1, 2005

By Johann Engelbrecht, Stéfan de Bruyn, Petrus van den Heever

A system for the on-stream X-ray diffractometric determination of mineral phases in slurries was developed in response to the mining industry's need for process control during the beneficiation of industrial minerals. The instrumentation for and results from testwork conducted at a phosphate rock beneficiation plant in Florida are discussed. Results show that the concentrations of the minerals apatite (var. francolite) and quartz can be accurately determined every few minutes, so that adjustments to the flotation circuit can be timeously executed from the control room. The on-stream measurements can ultimately be integrated into an automated plant control strategy. Estimates of savings on reagent and staffing costs, as well as the benefits from consistent grades and greater recoveries, have shown that the investment in such a system could often be recovered in less than a year.

Jan 1, 1999

By Yuexin Han

The characteristics of comminuted hematite products using a high pressure grinding roller (HPGR) and conventional jaw crusher (JC) were comparatively studied by screening, optical microscope, scanning electron microscope (SEM) and Brunauer, Emmett and Teller (BET) techniques. Major properties investigated included product size distribution, particle cracks, specific surface areas and pore volumes. Results showed that in a closed-circuit operation with a screen opening of 3.2 mm, the HPGR and JC gave a similar P80, but the HPGR achieved a more uniform size distribution, more fines and a higher crushing efficiency. Three modes of cracks were identified, namely transgranular cracks, innergranular microcracks and intergranular microcracks. Transgranular cracks originated from shearing breakage. Innergranular and intergranular microcracks were generated by HPGR via the two main nonrandom breakage forms, preferential breakage and interfacial breakage, depending on their respective ability to endure stresses when mineral phases (particles) were loaded against each other. The BET values for the same-size fractions showed that HPGR products gave higher specific surface areas and more pore volumes than JC products. This indicates that HPGR-crushed products are easier to grind because of their high porosity and extra cracks.

May 1, 2012

By Paul H. Johnson

A field investigation was undertaken to study some of the. chemical and hydrological aspects of leaching an impermeable copper sulfide waste dump. Samples, obtained by means of a Becker pneumatic drill from Kennecott's Chino "J" dump, near Silver City, New Mexico, were analyzed for their moisture and soluble-salt content, Fe +2 , Fe +3, Cu +2 , and H in their interstitial solutions and non-water - soluble Fe, Cu, and S in their rinsed residues. Conclusions were drawn from these data concerning the overall chemistry of impermeable-dump leaching and the hydrological characteristics of the dump.

Jan 1, 1970

By James D. Bennett

During the past decade many U.S. industries have realized the importance of a total loss control program; the bituminous coal mining industry is no exception to this trend. Oftentimes, we realize that the circumstances surrounding a "near miss" (an incident which does not result in personal injury or property damage) are practically identical to those associated with a fatality, disabling injury, or major property damage. And, many organizations suffer enormous financial losses in cases where no one is injured or property damaged but costly delays in production result. Detailed analyses of both injury and non-injury cases can provide valuable input into those engineering, behavioral, and management controls that are necessary to prevent their recurrence. The purpose of this paper is to describe a comprehensive loss control surveillance system (LCSS) that will enhance management control in preventing personnel, property, and production losses, thereby, maximizing profit. The next section describes the components of this LCSS. Then, we present one practical example of how this valuable management tool can be used to minimize loss through safety and training programs.

Jan 1, 1985

By James E. Monsees, Richard J. Proctor

INTRODUCTION Los Angeles is one of the world's largest cities in area with a span of 70 km between its north and south limits. The population in the Los Angeles Basin exceeds 11 million people. Los Angeles is second only to New York City in density of U.S. urban population and it operates one of the largest city bus fleets in the world, 2,500 buses. After many years of planning and many consultants' reports, it is planned to initiate a 30 km (18.5 miles) starter line subway -- the "Wilshire Corridor" (Figure 1). Construction is to start in 1985. In several locations, subway routes ultimately will skirt or cross old oil fields, which may cause gassy tunneling. Of particular note are the La Brea Tar Pits, which overlie a part of the old Salt Lake oil field. Tunneling through tar sands for about 3 km will be unique for subway construction and will occur on the starter line. Experience with previous gassy tunnels in the greater Los Angeles area shows that tunnels can be completed safely if precautions are taken. Abundant ventilation is the main solution, although other precautions are discussed herein.

Jan 1, 1985

By G. R. Laurer, J. W. Neton, C. Pomroy, N. Cohen, M. Eisenbud

INTRODUCTION In uranium miners, a causal relationship between exposure of the lung to high levels of alpha radiation and the consequential induction of bronchial carcinoma is now well-established (Wagoner, et al., 1965). Quantitation of this cause-effect association presents considerable difficulty, however, as the result of various confounding factors such as the contributing effects of smoking and/or arsenic exposure (Archer, Gillam, and Wagoner, 1976), normal metabolic variability and, perhaps most important of all, the absence of accurate radon/radon daughter exposure data. Estimates of cumulative lung exposures suffer from inaccuracy due to critical factors such as 1) unknown ventilation rates; 2) difficulties in obtaining representative mine air samples; 3) the variable character and magnitudes of the exposure sources; and 4) specific differences in metabolism and job histories that exist among miners. It was with considerable enthusiasm, therefore, that investigators readily embraced the idea of using skeletal burdens of the relatively longlived descendants of radon and its short-lived daughters, i.e., 210 Pb and 210Po (Archer, et al., 1968), to provide a measure of cumulative past exposure wherein the body acts as an integrating dosimeter. Early studies considered excretion rates of 210Pb and 210Po in urine, blood and hair (Sultzer and Hursh, 1954; Black, et al., 1968; Jaworowski, 1965; Bell and Gilliland, 1964) as well as their concentrations in bone samples, if and when they became available (Blanchard, Archer, and Saccomanno, 1969). These methods were ultimately complemented by in vivo, whole-body counting techniques using low background, NaI-Csl(T1) detectors (Eisenbud, et al., 1969). By this latter method, it would be possible to measure the skeletal burden of 210Pb directly, thereby avoiding the many difficulties associated with the relation between nuclide excretion rates and body burden. The rationale was simple; by knowing the skeletal burden of 210Pb it should be possible, by the judicious use of an applicable metabolic model, to estimate the cumulative lung exposure to alpha-emitting radon daughters (Fig. 1). Various models that were consequently constructed, however (Fisher, 1969), all suffered from the same limitation, i.e., the assumption that the source of 210 Pb in the skeleton and the source of lung exposure to the short-lived radon daughters were simply related and, if not, were at [ ] least not too variable (Raabe, 1970). By now, the difficulty with this assumption has been recognized and more sophisticated modeling techniques have been attempted which presumably present a more realistic picture of exposure conditions (Holtzman and Rundo, 1981). There is, nevertheless, the pessimistic view that due to the variety and variability (in time as well as in character) of sources that may exist for the origin of 210Pb in bone, it may [never] be possible to estimate past lung exposures accurately by an indirect, predictive model. For example, the origin of 210 Pb in the skeleton may include such sources as: 1) the decay of short-lived 222Rn daughters, inhaled and ingested; 2) the decay of 222Rn dissolved in body fluids and tissues; 3) directly from 210 Pb present in air, inhaled and ingested; and 4) 210Pb from non-occupational sources, e.g., food, water, smoking and endogenous 226Ra. The contribution of each of these sources may vary depending upon specific site conditions such as ventilation and mining operation. On the other hand, empirical evidence seems to indicate a trend reflecting the simplest of direct

Jan 1, 1981

By T. E. Durney

In the Fall of 1987 The Wellmore Coal division of The United Company installed a fines separation circuit in its #20 plant near Big Rock, Va. The addition of the fines circuit included a bank of classifying cyclones and two flotation units; one a conventional 4 cell, 34 m3 Wemco cell, the other an 2.4 meter diameter by 7.6 meter tall, 28.3 m3 column flotation cell. The new fine coal separation circuit is depicted in Figure 1. The column flotation cell is manufactured by the Deister Concentrator Company, Inc., under the trade name Flotaire. The Deister Flotaire column cell utilizes a counter current flow arrangement and a different means of generating air bubbles than that of conventional mechanical flotation cells found in coal processing plants. Other features include diffusers for additional air supply and a froth washer. This cell is one of the few commercial scale column cells processing coal.

Jan 1, 1990

By J. A. Meech

An analysis of screen design options on the operating efficiency of secondary crushing plants has been conducted using a dynamic computer model. The model allows for the simulation of a wide variety of crushing circuits and can be run on either a microcomputer (IBM PC/XT) or a large time-sharing mainframe computer. Size reduction and separation characteristics of crushers and screens are based on standard manufacturer design and performance data. Input/output routines are available in tabular, alarm or strip chart recorder modes to facilitate operation of the program. A number of alternate circuit designs are compared to show the influence of surge capacity, screen size and area, screen deck location, and closed side crusher settings on the operation of a 10,000 ton per day plant. The program is currently in use at Queen's University to teach plant operations and control. It has potential to be a valuable tool for operator training.

Jan 1, 1985

By J. S. Aronofsky

The areas are identified where the techniques of operations research have been applied in the petroleum industry. Particular emphasis is given to the linear program models that have been used for solving management problems. Of the entire gamut of applications for linear programming, attention is focused on the models that represent underground reservoirs. Such models could be used to help schedule drilling rig operations and to schedule oil production. A framework is established for placing the model for underground reservoirs in the proper perspective along with the models which represent other facets of the oil business. One of the remarkable phenomena of this century is the rapid growth in the size and' complexity of human organizations. The mere size of modern business means that administrative decisions can affect vast quantities of capital and large number of people. Mistakes can be tremendously costly, and a single wrong decision can require years for rectification. Moreover, the pace of modern business is such that decisions are required more rapidly than ever before; the mere postponement of action can give a decided advantage to a competitor. It is not surprising that the increase in difficulty of decision making has been followed by efforts to put this activity on a more objective basis. The growing science of operations research, which relies heavily on the methods that have proved so successful in the physical sciences, is one aspect of these efforts.

Jan 1, 1962

By L. A. Romo, J. A. Ferrer

INTRODUCTION The principle line of the Caracas Metro is located generally along the most important east-west traffic corridor of the city from the yards and shops in Propatria at the western extremity to Petare, and eventually beyond to Palo Verde at the eastern end, a route distance of 21 kilometers. There will be 23 stations along the alignment, underground, at grade and elevated, and the line is forecast to handle 1,209,100 passengers daily by the year 2000 with a travel time of 29 minutes between Propatria and Petare. This principle line was divided into three sections for design purposes: Propatria-Fuerzas Armadas, Section I, Fuerzas Armadas-Chacaito, Section II and Chacaito-Petare, Section III. These sections were further subdivided into subsections for construction purposes. The Venezuelan Government, through its Caracas Metro Office in the Ministry of Public Works, awarded design contracts in sections to PARSONS BRINCKERHOFF-TUDOR-BECHTEL for Propatria-Fuerzas Armadas, Section I, OCOIDESA-GRID-APM for Fuerzas Armadas-Chacaito, Section II and OCOIDESA GRID-APM for Chacaito-Petare, Section III. Construction contracts were awarded by international bidding and work is now underway, by joint venture organizations of Venezuelan and foreign firms. The first two sections are under the administration of a company of Engineer/Inspectors in each section. The construction supervision of contracts in the first section is under the administration of the Venezuelan firm, Gómez-Celis-Herrera, (GCH) Engineers, acting under contract to the new C.A. Metro de Caracas that replaced ' the former Office of the Metro. The Propatria-Fuerzas Armadas section, approximately seven kilometers long, consists in part of the 2,951 linear meters of twin-bore

Jan 1, 1979

By H. Weber

This paper is in three parts. Part I discusses the various types of cement clinker coolers now in full-scale operation. Part II is a detailed study of the criteria for selection of the type of cement clinker cooler best suited for a given installation. Part III covers a number of cooling problems and their solutions in some of the metals industries. The large and world-wide problem of cement clinker cooling has motivated much study and development and the coverage here of this work is somewhat detailed. In contrast the cooling problems of the metals industries are quite varied between industries and often quite different from plant to plant in the same industry because of basic differences in the requirements of the particular material being processed. Therefore the coverage of metals industries coolers is somewhat more general. It is believed that all of the technology covered here may be of interest to those working with the problems of cooling hot materials.

Jan 1, 1980

By Erwin A. Morlan

Present methods of boring large hole mine openings are briefly reviewed. Factors that influence the design and choice of down-the-hole equipment for rotary drilling large holes are discussed. With formation drillability taken as a starting point, graphs and charts are given as an aid in the selection of bit load, circulation system, flow rate, drill stem, cutter design and rotary speed.

Jan 1, 1961

By Donald J. Worth

When Eugene Bailey asked me to contribute to this session on "Canadian exploration - 1976", it took a little coaxing before he got me to agree. My immediate reaction was, what could i say about Canadian exploration that already had not been said a hundred times in the past few years; secondly, why include a banking person in such a discussion? Everyone knows banks only come into the picture after the discovery has been made and feasibility well established and validated. Rather than wrestle with these misgivings, I decided to take the easy way out and go on blind faith in Eugene - that is, he asked me so he must think that I could come up with some useful thoughts and at least touch upon some of the pros and cons of exploration in Canada. The object of the whole exploration exercise is to Find economic deposits, once they are found, one cannot really move them elsewhere to mine them. It follows, therefore, that we should really be speaking about the pros and cons of mining In Canada and my treatise will eventually lean in this direction. In any event and before getting down to the pros and cons, let us take a quick look at the history of mineral resource development in our country since the end of world war II. At that time, we were producing well under one billion dollars worth of mineral products including hydrocarbons.

Jan 1, 1976

By R. E. Driscoll

The exploration, geologist of necessity has to have a wide working knowledge of many specialties other than hiw own, First he has to use his own technical background to find a deposit,, of a mineral that is of interest, Once found, his problems are Just beginning, He then has to assume the role of an economist, an accountant, a mining engineer, a chemist, a metallurgist,, a salesman and what-have you, In the economic field, he must determine the marketability of either the ore or the refined mineral. He must gauge the supply and demand for the particular mineral he is interested in and make his best guess as to ultimate cash flow from a deposit over the estimated life of said deposit, He must then assume the role of a mining man and estimate cost of recovery, including an, evaluation of the most economic mining method, cost of supplies and labor, and again estimate a net cash flow. He must then determine amenability of ore to economic metallurgical methods, he must determine the legal status of the property involved and, after analysis of the specific situation, determine the best approach to a deal, After all of this he must sell it to the people who will put up the money and then put his deal together and sell it to the people who own the minerals, if that be necessary. Then he has to sit back, with crossed fingers and crossed legs wondering for some months, and in many cases even years, whether or not he is right. The expenditures required to open up a mine in this day of wild inflation are such that he has to be right, and the responsibilities are awesome.

Jan 1, 1958