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By Emily Wortman-Wunder

As the 2010 president of the Society for Mining, Metallurgy, and Exploration, Inc., I am pleased to present the 2010 issue of Transactions of the Society for Mining, Metallurgy, and Exploration, Vol. 328. A significant portion of the contribution that we as a professional society make is the publication of professional and technical papers that accelerate the advancement of scientific knowledge and enable transfer of technology. Communication within the mining community is the key to a successful society. Through books, magazines, meetings and electronic media, we accomplish the technology exchange that is fundamental to the existence of the Society. This technology exchange continues a tradition that dates back to the 1871 meeting of 22 mining engineers in Wilkes-Barre, Pennsylvania, that resulted in the founding of AIME; those individuals envisioned that these transaction volumes “would form a most valuable and greatly needed addition to our professional literature.” This volume certainly fulfills that pledge. The 2010 Transactions is the first Transactions to take advantage of new publication technologies. It appears solely as an e-book. The decision to go to an all-digital format for this longstanding publication was a difficult one, but one which will certainly better serve the mining community. I am excited about this development and the opportunities it presents. The 2010 Transactions also contain some of the most exciting research from the past year, including new developments in mineral processing, safety and exploration. Be sure not to miss the two Minerals & Metallurgical Processing issues on the subject of gold hydrometallurgy. This 2010 Transactions comprise of a total of 78 technical papers (582 pages including index), including all 21 papers (136 pages) that were published in 2010 in the Technical Papers Section of Mining Engineering magazine (Vol. 62) and all 34 papers (231 pages) that were published in 2010 in Minerals & Metallurgical Processing (Vol. 27). Addition, this volume contains 23 papers (194 pages) that are being published for the first time in this issue. The papers presented in this volume were written by some of the most distinguished professionals in the industry worldwide. All 78 technical papers were peer-reviewed. The process of review and publication requires much hard work by authors, reviewers and our publications staff. As the 2010 president of SME and on behalf of all our members, I would like to extend our gratitude to all whose volunteer efforts contributed to the publication of this volume.

Jan 1, 2010

The title of “the world’s biggest volume-produced hydraulic breaker,” that was held for more than a decade by the Atlas HB 7,000, changed hands with the launch of Atlas Copco’s HB 10,000 at bauma 2007. A service weight of 10 t (11 st) and up to 50 percent higher productivity represent major steps toward a new market segment: the use of hydraulic breakers as cost-efficient production machines for primary breaking and as a true alternative to drilling and blasting. The HB 10,000 has all the technical features developed by Atlas Copco for its hydraulic breakers and includes: StartSelect — the breaker’s start-up and shut-down behavior can be adapted to the conditions. AutoControl that ensures an optimized balance of impact energy and impact frequency to maximize percussive performance. Auto-Control also reduces blank firing force and controls energy recovery. PowerAdapt — if oil pressure is too high, the breaker shuts down automatically. This prevents downtime and is particularly useful when breakers are used on different carriers. DustProtector II — a combination of multiple strippers prevents abrasive rock dust and foreign bodies from penetrating the lower breaker section. Conti- Lube II — the automatic lubrication unit guarantees optimal lubrication of the breaker at all times.

Jan 1, 2007

By Z. T. Bieniawski, E. H. Skinner, R. A. Cummings, F. S. Kendorski

INTRODUCTION Caving Mine Drift Support Design The support of production drifts remains a high-cost item facing the developer or operator of an underground caving mine. Support costs are incurred well in advance of ore production, and there is a strong need to minimize these pre-production commitments of capital. Due to the extensive rock loads that normally develop during the caving process, the support used in caving mines is typically quite heavy and therefore costly. The process of designing this support increasingly makes use of basic tunneling principles, but is hindered by the still-incomplete state of knowledge of rock behavior in caving mines, and high variability of geological conditions in caving orebodies. Caving mines differ from tunnels in that the deformations and rock loads induced are transient and dynamic in occurrence, and are normally large in magnitude, often well in excess of rock mass strength. As opposed to tunnels, caving mine layouts are more intricate, and the methods and effects of construction ordinarily are not as closely monitored. Safety factors in mining tend to be lower and rock masses tend to he weaker. These aspects prevent strict application of tunnel design technology to caving mine drift support, with the result that mine drift supports are commonly designed chiefly on the basis of experience at other mines. Mining procedures at caving mines are evolved in response to site-specific requirements, to the extent that there are really as many caving methods as there are caving mines.

Jan 1, 1983

By Ray L. Tobie, Douglas E. Julin

GENERAL DESCRIPTION Block caving is a distinct caving method applied mostly to large, massive, ore bodies because of its in¬herent low cost and high production capabilities. Areas of sufficient size are removed by undercutting so that the mass above will cave naturally. Drawing of the caved ore at the bottom of the ore column causes the caving action to continue upward until all of the ore above the undercut level is broken into sizes suitable for handling. When properly applied, block caving results in a lower mining cost per ton than any other under¬ground method. There are three distinct forms: (1) dividing the horizontal area into rectangular or preferably square or nearly square blocks, drawing evenly over the entire area to maintain an approximately horizontal plane of con¬tact between broken ore and caved capping; (2) divid¬ing the horizontal area into panels across the ore body, retreating by undercutting manageable areas from one end of the panel to the other and maintaining an in¬clined plane of contact between the broken ore and caved capping (thus the name panel caving); and (3) no division of horizontal area of the ore body into defi¬nite blocks or panels (this is termed mass caving). Undercutting may be from wall to wall, retreating from one end of the ore body to the other, maintaining an inclined plane of contact between the broken ore and caved capping. The total active caved area is deter¬mined by the size of block that will not produce undue stress on workings below the undercutting level and by total production requirements. This type of operation is also referred to as panel caving at some properties. SUITABLE ORE BODIES Block caving in its various forms is applicable to deposits of various shapes and ores of various strengths. Its success is governed by rigid requirements and limi¬tations. In unsuitable deposits or where improperly em¬ployed, the loss of ore may exceed that of any other mining method. Good planning, systematic work pro¬cedures, careful supervision, and good judgment con¬tribute to its success. Ore Characteristics Included as a necessary characteristic in an ore body suited to a successful block-caving operation is a proper fracture pattern. Ore hardness should be another gov¬erning factor, and the toughness or softness of the ore should be considered. There must be sufficient horizon¬tal area available for expansion of the undercut, if neces¬sary, to start the caving process. Large, massive, ore bodies usually meet these conditions. Veinlike deposits must be wide and dip rather steeply to conform to the block-caving limitations. The capping must be of such a nature as to cave when the underlying ore is being removed since the weight of the overburden aids in crushing the ore. The most favorable capping character¬istic is that it breaks into coarse pieces and resists attrition as the block is drawn. Soft capping, by breaking into fine pieces and sifting into the ore or channeling through the ore to the drawpoints, can seriously dilute the ore and hinder the extraction of clean ore from the blocks. Types of Ore In block caving, a fairly uniform distribution of val¬ues in the ore is necessary. Grade values may range from low grade to high grade, but most often the sys¬tem is applied to low-grade ores. Wide veins, thick beds, or massive deposits of homogeneous ore overlain by ground which will cave constitute suitable ore bodies. The ore must be such that it can be supported while blocks are being developed and undercut but breaks up readily when caved. Some applications include porphyry copper, disseminated molybdenite, hematite in the Lake Superior iron district, limonite deposits in northern Spain, the diamond mines of South Africa, asbestos and nickel in Canada, and massive magnetite in Pennsylvania. Size and Shape Outline of the ore body should be fairly regular, and the sides of the ore body should dip steeply. It may not be economical to mine small portions of ore extending into the walls of the deposit, and low-grade inclusions in the ore cannot be left unmined. Some dilution of the ore, as mining progresses, by low-grade or barren cap¬ping is inevitable and, unavoidably, some clean ore is left between drawpoints. Determining Cavability The use of rock mechanics is sometimes advantageous in helping to determine the cavability of an ore deposit. The US Bureau of Mines has information and testing ability which can assist in determining the cavability of ore types. Several competent consulting orga¬nizations knowledgeable in rock mechanics can also as¬sist in evaluating the cavability of an ore body. Some recent work has been done to better define the cavability index of various ore bodies; an example of how this was determined is discussed by McMahon and Kendrick (1969). The intensity of the fracture pattern is a critical parameter to be analyzed. The question to be answered is, "How intense must the fracture pattern be?" Table 1 is a tabulation of the size of rock fragments that appear at the drawpoint of various block-cave mines around the world. These are indicative of the fracture-pattern spac¬ing and, as can be seen, they vary substantially from the almost sandy material at the Mather mine to fairly sizable blocks at the Grace mine. Several sets of fractures are essential to promote good caving. Ideally, two vertical sets at nearly right angles to each other and a third set nearly horizontal are required to insure a good caving ore body. Since initial caving of an ore mass is almost always by the action of gravity acting on these planes of weakness, it is doubtful

Jan 1, 1982

By Mark P. Juzli

During the 1980s, a revolution has been taking place in industrial minerals marketing. Transportation deregulation and a handful of creative marketing and distribution managers have completely changed the rules for marketing many industrial minerals. Minerals are being transported much farther than in prior decades and at much less cost. Bulk and package terminals are becoming increasingly common as a means to take advantage of freight rate savings and to provide enhanced service to faraway customers. Water and rail transportation are being used increasingly to penetrate markets considered unreachable just a few years ago. No longer do the textbook rules of thumb for industrial minerals marketing apply. This author recalls three of those rules he was taught in mineral economics graduate school in the 1970s. As recorded in class notes: • construction aggregates are seldom shipped more than 32 km (20 miles) from the quarry; • cement is sold within 240 km (150 miles) of the mill; and • industrial sand is sold regionally - it is freight constrained to a market radius of no more than 320 to 400 km (200 to 250 miles) from the plant. And yet, the author looks up in 1989 and observes overland movements of aggregates of many hundred miles, overland movements of cement and industrial sand of 1600 km (1000 miles) or more, and water movements of both aggregates and cement into the United States from sources halfway around the world. Truly, industrial minerals are in the midst of a marketing revolution. The companies that have led this revolution have enjoyed considerable financial success in the 1980s. They have enhanced their profitability by increasing market share, capacity utilization, and average selling prices by taking product to remote markets where premium prices are available. They have consistently outperformed their competition, many of whom remain unaware that the marketing revolution going on around them is actually a transportation/distribution revolution. The successful industrial minerals company of the next 10 to 15 years must participate in the transportation revolution as it continues to evolve. Additional human and capital resources must be committed to maximize the effectiveness of a company's transportation and

Jan 1, 1989

By Samer Sadek, Brian Hagan

We are thrilled to welcome you to the 2025 Rapid Excavation and Tunneling Conference (RETC), which will be held in Dallas, TX. This year’s conference will showcase the continued trend of strong industry interest, as there will be a record setting 115 papers being presented over the course of three days. The set of papers compiled in this book captures the latest and greatest information on a broad array of topics within our fascinating tunneling industry. We hope that the compilation of selected papers in this book will provide a comprehensive recap of the conference while also providing a source of future reference for contractors, engineers, and anyone in general who is a student of our beloved and unique industry. Since its inception in 1972, RETC has been the preeminent tunneling forum to promote ideas, tell stories, share lessons learned, and promote new technologies. RETC prides itself on its focus towards highlighting real-world experiences and practical ideas, with the intent to help the entire industry learn from one another and grow. The need for us all to stay sharp and remain on the cutting edge of technology has never been stronger – the technology and ideas that have been applied in aerospace are now attempting to mix with tunneling, and the advancement of AI continues to permeate all industries. However, no amount of technology or AI can fully replace the human element, and in our tunneling industry, the human element is key and is what sets us apart. In tunneling, every project is different, because the ground is always different. We can only take what the ground will give us, and we must rely on our past experiences to get through present day challenges. Most importantly, we must rely on each other. This is the heart of what RETC is all about. For those of you attending this conference, we encourage you to attend as many sessions as possible and engage with your colleagues to discuss during the breaks in between sessions. This sharing of ideas is what keeps us connected and helps to expand our industry. Please also try to engage with the scholarship students and the newcomers who will be in attendance, as it is the new ideas and fresh energy from the next generation that will continue to make our industry thrive into the future. The program chairs thank and greatly appreciate the efforts made by our session chairs, co-chairs, authors, the members of the RETC Executive Committee, and most importantly the SME staff towards making this RETC possible.

Oct 1, 2025

By COLIN A. LAWRENCE, Anthony Del Vescovo

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2017

By Steve Kral

Competition from foreign coal producers could displace as much as 9 Mt/a (10 million stpy) of US coal bound for power plants located near waterways. But, according to a Maryland-based coal consultant, it could be worse. Theoretically, about 52 Mt (57 million st) of domestic coal could be vulnerable to imports by 1990, said Forrest Hill, of Hill & Associates of Annapolis. Hill was speaking to about 150 coal industry executives and experts at the third annual Coal Marketing Strategies Conference in November. Most were at the Denver, CO conference to pick up tips on how to sell coal in an oversupplied market. Imports threaten domestic markets Of the 200 utilities studied by Hill and his staff, 119 are situated near major waterways, he said. However, most of those waterways are not equipped to handle coal from the shipping lanes. Good news for US coal producers. But don't breathe too easily. Foreign coal still poses a major threat to domestic markets, Hill continued. The strength of the US dollar is an obvious factor. But easy access to US utilities located on waterways combined with low rates for ocean vessels give foreign producers another edge. And foreign mines are typically low cost producers. For example, Hill said Colombia's huge Cerrejon mine can deliver coal to an Illinois power plant for $47.87/t ($43.39 per st). That compares to $52.85/t ($47.95 per st) from a Kentucky coal mine. Also, Colombian coal producers can generate a cash flow even if the coal sells for $27.50/t ($25 per st). The main competition US producers face from abroad, as Hill sees it, comes from Australia, Canada, Colombia, Poland, South Africa, and, perhaps, from Venezuela. Domestic producers, however, do have some things going for them. Most US coal buyers, Hill said, "are not wild about the idea of buying foreign coal." A 10% price advantage or pressure from public utility commissions would be needed to force some of them to buy foreign coal, he said. Some of the utilities contacted said they would not commit to more than one-third of their stockpiles to a foreign source. Another advantage for US producers is that they have room in their long-term contracts to cut prices and still maintain a profit, Hill said. Railroads, too, have high profit margins written into their rate structures. They are also aware of the import threat. Therefore, they may reduce their rates accordingly to keep their markets. Marketing's role The energy price shocks of 1972 and 1976 caused major adjustments in world economics. Coal was no exception. High oil prices caused many utilities to look at less expensive coal. As the market improved, coal prices began to respond, said R. Gale Daniel, of Anaconda Minerals Co. But clean air legislation and the strengthening dollar caused havoc in the coal markets, he said. The price of oil crashed, taking with it predictions of record coal use. The result is an oversupply of coal that has led to price cutting. Now, coal marketing must be recognized in its "true leadership role," Daniel said. Marketing people must know when to use spot sales to balance production objectives and maintain cost-effective-

Jan 1, 1986

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 Jim Baumann

Deposited millions of years ago in irregular paleokarstic channels, Jamaica’s extensive bauxite deposits provide good quality ore for alumina production and subsequent aluminum smelting. Bauxite mining operations are critical to the Jamaican economy. It accounts for a large percentage of Jamaica’s export earnings. Bauxite production in Jamaica accounts for about 10% of the world’s output each year. Bauxite deposits in Jamaica lie close to the surface. They can be extracted using standard surface mining techniques. The deposits occur in scattered pockets across the country’s rugged landscape. So it was necessary for two of the country’s major mining and refining operations to implement cost effective methods for the acquisition and management of bauxite reserves and surface ownership distribution rights.

Jan 1, 2002

By Lee W. Abramson, William H. Hansmire

The H-3 Project is planning, design, and construction of a 10-mile (16 km)-long final segment of new highway that traverses the Koolau mountain range in Oahu. Interstate H-3 traverses North Halawa Valley on one side of the Koolau Mountains and Haiku Valley on the other side. The project includes a tunnel through the mountain range. The one-mile (1.6 km)-long twin-bore Trans-Koolau Tunnel will have two lanes in each direction. The total roadway width including shoulders in each bore will be 38 ft (11.6 m). The geologic and geohydrologic conditions along the alignment present a variety of tunneling problems. Geologic conditions consist of volcanic materials deposited generally in fairly thin basaltic layers. These volcanic materials generally weather down to "MH" soils which are compressible but relatively strong. Perched ground water that is recharged by heavy rainfall is present in the mountains. The paper presents results of initial geologic surveys and exploratory boring, and plans for exploratory tunneling and testing programs. A site specific classification method developed to characterize the weathered profile is presented.

Jan 1, 1989

By A. A. El-Midany, R. M. Farag, A. M. Salem, S. E. El-Mofty

Bentonite represents one of the main players in the stability of the drilling mud. Its particle size and particle size distribution affect the physical properties of the drilling mud especially the rheological properties. Therefore, a specific particle size distribution was recommended by American Petroleum Institute (API) for use in drilling mud. To clarify the effect of individual size and size distribution, in this study, the bentonite sample was classified into different size fractions. Each size fraction was tested separately in terms of controlling properties such as filtration loss, plastic viscosity, gel strength, cake thickness, and packing density. The effect of each size fraction on the rheological properties of the suspension was correlated to the behavior of the whole particle size distribution in the bentonite sample. The results indicate that the coarser the particles, the higher the rheological properties; in this case, the API mixture is the highest. The filtration loss and cake thickness for the API mixture are lower than that of the individual size fractions due to its wider size distribution due to the filling of voids between larger particles with smaller ones, which lead to bed compaction and consequently lower fluid loss and cake thickness.

The Environmental Session will consist of five papers dealing with various aspects of trace elements associated with coal. Analytical procedures to determine the amounts of trace elements will be discussed. Other papers will deal with trace elements in streams downstream from coal mines, potential pollution from wastes from coal preparation plants, potential recovery of trace elements, and potential pollution from trace elements as a result of the combustion of coal.

Jan 1, 1979

By Euclid P. Worden

INTRODUCTION Today, conventional raise boring is an accepted method of development in underground mines and on major construction projects. Over the years that this technique, and its associated machines and tools, have been under development, many articles have been written on the subject. To a great extent, these papers have reported operating results of one or more specific projects or have been generalized reviews of state-of-the-art machines and tools. This paper is intended as a review of the technique from an operational standpoint. Conventional raise boring, as opposed to the related variants box hole drilling and underground blast hole drilling, is a two step process consisting of the pilot hole drilling and reaming cycles. This author has covered the subject of pilot hole drilling in another article (1) . A good review of the current machines and equipment has been presented by Monroe (2) and an overall review of this entire technology was published by E&MJ (3) and Mining Journal, April, 1983 (4) . The subject of the reaming cycle is presented here together with some of the technical aspects of how the drilling tools are intended to be used. OPERATIONS Bit Change After the pilot bit has broken through at the end of the pilot hole cycle, a changeover takes place at both the machine and

Jan 1, 1985

By Matthew Preedy, Brett Campbell, Jim Rush, Alan Howard, Derek Penrice

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2018

Sustainable development is at odds with reality in the minerals industry. Increasing world population and aspirations are leading to increased energy and mineral consumption. Non-renewable fossil fuels are being exploited at a much faster rate than they are being discovered. Mineral reserves are diminishing and of lower grade. Despite recycling, many of the economic reserves of the rarer metals on which technological society has come to depend are being depleted, and many of the bulk metals are being exploited at ever increasing rates. And yet, mining continues, with a long-term downtrend in commodity prices, matched by more efficient mining and processing. Will society turn to a low carbon economy before fossil fuels are depleted? Will prices come to better reflect the full cost of mineral production? Will technology save us, or is it at the root of the problem? The key drivers continue to be an ever increasing aspirational population and the law of supply and demand, rather than sustainability considerations. The paper illustrates this with examples of worldwide and Australian data.

Jan 1, 2011

By Steve Kral

Reducing the cost per ton and increasing productivity are key factors in a mine’s profitability. Mining companies can do little about commodity prices. So to keep a mine operating at a profit, management must reduce costs and improve worker and equipment productivity in every facet of a mining operation. From mining to crushing to processing, mine management is constantly seeking new methods and technologies to improve the way it mines minerals. And it is willing to borrow techniques used by other operators.

Jan 1, 2002

By J. C. Reid

Pre-cambrian scheelite deposits in Northeastern Brazil are widespread in a high grade metamorphic terrain. Previously these deposits had been interpreted as contact-metasomatic. In this paper, a volcanigenic model is invoked based on the volcanic setting (proximal to distal) and the absence of associated felsic intrusives and spatially associated metasomatic skarns. The tungsten was introduced into sediments by volcanic- exhalative processes and subsequently remobilized and further concentrated by heat and metamorphis fluids associated with high-grade metamorphism and migmitization. An alternative syngenetic - diagenetic model is discussed which requires the transport of tungsten by heteropoly acids and deposition of the tungsten as a function of Eh and Ph conditions and different clastic depositional environments. While such stratabound tungsten deposits are considered rare in North America, the hypotheses developed in this paper may open new areas for exploration.

Jan 1, 1983

By M. A. Raza

Cable shovels are capital-expensive and primary production equipment in many surface mines. The forces acting on the shovel dipper vary as the dipper moves through the muck-pile. The variations in the forces cause stress loading of the components of shovel and dipper resulting in unplanned downtimes, reduced shovel efficiency, and high mining costs. A potential solution to the above problems is the deployment of an intelligent shovel excavation (ISE) technology, with real-time formation identification, recording, and knowledge transmission capabilities. This research advances the ISE technology by developing dynamic model of cable shovel dipper using Newton-Euler techniques. The model includes the dynamic cutting and dynamic weight forces acting on the dipper as it moves through the muck-pile.

Jan 1, 2011

By Meyer Klein

Decision theory is the formal theory of the logic of decisions in view of the decision maker's objectives, preferences, I beliefs, and available information, It usually deals with weighty economic problems involving irrevocable (or costly to reverse) decisions. Capital investment planning problems constitute an instance par excellence for application of the decision theory concepts. Decision theory as it is presently conceived has evolved in recent years. At first it concentrated on decisions in the face of total lack of information and on games with intelligent adversaries. The results of these efforts proved theoretically interesting, but practically of little applicability. In the last few years, stress has shifted to the introduction of subjective probabilities and preferences, and the results have been eminently successful in applications both in government and with- in business firms in the resolution of complex problems.

Jan 1, 1970