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By N. K. Bohidar

Evaluation of the stability of a structure under given boundary conditions requires accurate knowledge of the state of stress as well as the mechanism of failure at the critical state of stress. This paper represents a part of the research done by N. K. Bohidar during 1965-1968 for his Ph. D. research in Mining Engineering at the University of Utah. It summarizes the determination of internal stress and failure phenomena around cylindrical openings in viscoelastic media subjected to lateral restraint and vertical uniaxial load. The conditions of lateral restraint and viscoelastic nature of the media represent conditions associated with subsurface openings in rocks. The financial assistance provided to the project from the University of Utah Research (Uniform School Fund), W. C. Browning Scholarship Fund, Earth Science Research Fund, and D. C. Jackling Loan and Scholarship Fund is gratefully acknowledged. The authors also acknowledge the assistance of S. Siugh, W. Jones, and K. McCarter during the project.

Jan 1, 1970

Simulation models were developed at the Julius kruttschnitt Mineral Research Centre to provide accurate estimates of power consumption for a wide range of equipment. With the models, a range of circuits and operating conditions can be compared by simulation for a particular ore type. Accurate models of classification allow for the interaction between classifier efficiency and target product size (e.g., P80 or percent passing 150 /an) to be considered. This paper considers a range of circuit types and overall energy efficiency in the context of case studies where different circuit types were treating similar ore types.

Jan 1, 1999

THOSE MARKED THUS * ARE MEMBERS, MARKED THUS ?ARE ASSOCIATES. THESE SIGNS DOUBLED INDICATE LIFE MEMBERS AND ASSOCIATES RESPECTIVELY. THE FIGURES AT THE END OF THE ADDRESS INDICATE THE YEAR OF ELECTION. HEAVY-FACED TYPE SIGNIFIES HONORARY MEMBERSHIP. *AARONS, J. BOYD, Vivian Gold Mining Co., Ltd., Harris, West. Australia. '05 *ABADIE, EMILE R., Cons. and Min. Engr., 214 Union Savings Bank Bldg., Oakland, Cal. '76 *ABBOTT, CHARLES W., Min. Engr. Pioche, Nev. ?08 *ABBOTT, JAMES W., Min. Engr: Ploche, Lincoln Co., Nev. '94 *AOTT, ROBERT R., Met. Engr., Peerless Motor Car Co., Cleveland, Ohio. '12 || ARAHAMS, ALEXANDER I., Student.. .67 E. 93rd St., New York, N. Y. '13

Jan 1, 1917

By L. O. Howard

Much work has been done recently on the lead-antimony system1 in connection with lead-rich alloys of commercial importance containing less than 20 per cent. antimony. Dean, Zickrick and Nix have called attention to the perpetuation in the literature of several erroneous data, such as a eutectic temperature of 228° C. at 12.5 per cent. antimony, instead of 247° at 13 per cent. The series is given as a classic example of a straight eutectiferous series in such late books as those of Heyn and Grossmann, 2 Jeffries and Archer,3 Guillet and Portevin,4 Pulsifer,5 Rosenhain,6 and Liddell,' as well as the somewhat earlier works of Hof-man (1918), Wang (1909), and Williams (1920). The work of Dean has definitely shown a solid solution of antimony in lead at about 2.5 per cent. antimony. While lecturing to a class in general metallurgy at the University of Idaho, the writer had the students prepare a series of lead-antimony alloys for the purpose of illustrating methods of thermal analysis. Proper proportions of powdered antimony (sold as C.P.) and test lead were mixed and melted in graphite crucibles under a reducing cover. Cooling

By Franz R. Dykstra

DEFINITIONS The ores of iron are classified in three general categories: direct shipping, concentrates, and agglomerated-i.e., pelletized or sintered. Direct Shipping As the name implies, direct-shipping ores are shipped as mined or, perhaps, after screening. Generally, direct-shipping ores are hematitic (R203), magnetitic (R304), or limonitic (2Fe2O3.3H20) in nature. Grades of direct-shipping ores vary widely. Prices are frequently related to the historical Mesabi standard of 51.5% iron, although certain premium lump ores may contain up to 68% iron. The use of direct-shipping ores is diminishing as the advantages of beneficiated ores become evident and reserves are depleted. Concentrates Where the nature of the deposit and economics allows, certain ores are upgraded. This may include no more than washing and screening, or may be as elaborate as fine grinding followed by magnetic, gravity, or even flotation procedures for separation. Coarser concentrates may be smelted "as is.'; Fine concentrates usually are sold as sinter feed. (Sinter, as used here and in the following, refers to a process by which a fine ore-carbon mixture is agglomerated at elevated temperatures on a direct-fired moving grate to eliminate fines and improve chemical and physical homogeneity.) Agglomerates-Pellets or Sinter The development of economic techniques of mining and concentrating taconite (fine-grained, ferruginous jasperoids) led to the introduction of the iron-ore pellet, which is now becoming the major form in which iron is introduced into the furnace. The tremendous reserves of magnetic taconites of the northern United States and Canadian Precambrian shield had been recognized for many years. A century of mining has seen the reserves of the direct-shipping or "red ores" of the Minnesota, Michigan, and Wisconsin ranges approach depletion. Research started in the 1930s has seen the evolution of motives and techniques to concentrate these stubborn refractory ores. The efficacy of concentrate pellets in iron-making has been such as to induce mines throughout the world to grind, concentrate, and pelletize otherwise shipping-grade ores. Table 14.1A.1 shows typical analyses of iron ore. Marketing-Prices of iron may be quoted on a value per long-ton (2240 lbs) or metric-ton (1000 kg or 2204 lb) basis, or on a value per long-ton-unit or metric-ton-unit basis. One iron unit represents 1 % of contained iron per ton. (Thus, a price of $0.45 per iron unit for ore containing

Jan 1, 1976

"RésuméDans la première partie de cet article on discute Ie mode d'écail age aetueJJement en usage dans des mines souterraines. Par la suite, on presente la problematique d'écaillage à l’aide de barres conventionnelles et on discute les plus recénts développements des outils d'ecaillage portatifs et mécanisés ainsi que les techniques de détection des roches branlantes. Plus tard, on analyse la tâche d'écaillage avec des barres conventionnelles. Dans les chapitres qui suivent on présente un concept d'un outil d'écaillage portatif et mécanisé développe à l'Université Laval, ainsi que les résultats des essais de cet outil, effectués dans quelques mines au Québec. On constate que Ie nouvel outil d'écaillage démontre un potentieJ intéressant tant au niveau de l'effort requis pour effectuer la tâche d'écaillage que de la sécurité des mineurs.On conclut que l’application de cet outil fera un pas important sur Ia voie d'amélioration des conditions de travail dans les exploitations souterraines, tout en assuarnt une qualité accrue de l'écaillage.AbstractThe first part of this paper discusses the type of scaling operations presently in use in underground mines and derma; a scaling factor which is expressed as the:: area necessary to scale to extract one ton of ore. Subsequently, the problems associated with conventional scaling methods are discussed as well as recent developments in mechanized hand-held scaling devices and methods of loose detection. The elements of the scaling process are further analyzed. In subsequent sections of this paper, the conception and design of a mechanized scaling device, developed at Universite Laval is described. The results of field tests conducted in Quebec hard rock mines are presented. The experimental findings show that the mechanized hand-held scaling device shows great potential in improving the productivity and safety of underground mining operations."

Jan 1, 1995

By Kelley BC, Filmer AO

The chemical oxidation kinetics of sphalerite by Fe(III) was studied at various temperatures and size fractions in sulphate media. The kinetics of Zn extraction followed a pore diffusion control mechanism with an apparent activation energy of 54-58 kJ mole. This figure, although high for a pore diffusion control process, is consistent with other studies carried out in sulphate media. An empirical statistical model, relating the extraction time to % Zn extraction, average particle size and temperature, is described by log 1 = 12.22 - 0.017% Ext. - 1.76 log D Av t - 2954 T Parallel studies were also carried out investigating the biological oxidation of sphalerite utilizing the acidophilic autotrophic bacterium Thiobacillus Ferroxidans. The effect of such kinetic parameters as pulp density, particle size and Fe(III) on bacterial growth rate and consequently zinc extraction rate, were studied and where appropriate, optimum conditions for bacterial growth were specified. Based on the results of chemical and biological leaching studies, it was apparent that rapid zinc extraction from sphalerite was predominently due to oxidation by Fe(III). The biological oxidation process catalyses the oxidation and regeneration of Fe(III). The proposed combined chemical-biological leach system was simulated in semi continuous fashion. The sphalerite oxidation rates obtained in this system were similar to that predicted by the chemical leach empirical model. 1. Senior Research Metallurgist, CRA Research, Boolaroo, N.S.W. 2. Group Leader-Hydrometallurgy, CRA Research, Boolaroo, N.S.W. 3. Senior Research Scientist, Biotechnology Australia, Roseville, N.S.W. 4. Senior Experimental Officer, Biotechnology Australia, Roseville, N.S.W.

Jan 1, 1986

By Louis Ware

BEFORE the war we often heard the term "Big Business." And there were complaints of the ills and abuses attributed to bigness in business. Although there were examples where the small businessmen spoke for their rights and sought protection from the bigger ones, it has only been in recent war years that a tendency has developed definitely to divide the business of our nation into the big and the small. In some cases, those with an eye to the political value of the vastly greater number of small businessmen of the country have fomented this division by hurrying to the protection of these more numerous voters, and intentionally or not have emphasized in their writings and verbal attacks any and all differences of these interests that could either be found or fabricated to, suit the occasion. It has become another example of breaking the people into classes and thus setting up the basis for the claims of one class against another, and the subsequent demand for legislation and Governmental aid. The terms "big" and "small" are purely relative. One businessman, employing a hundred men, told me recently he did not know which adjective would be more appropriately applied to his operation. He did not know whether he should join the small operators' group that had been organized, or should consider himself big. He said that his present plant seemed big to him when he looked back to its humble beginning many years ago with a couple of men in two rooms. Yet, when compared with many of his competitors who employ thousands, his was small. He did add, however, that he probably became big one day a few years ago when the union moved in and organized his employees.

Jan 1, 1945

By D. Bastin, J. Frenay, J. Dassas

"The Luiswishi deposit belongs to the Cu-Co deposits of the Southern Group of the Katangian Copper Belt and is operated by a joint venture between EGMF (Entreprises Générales Malta Forrest) and Gecamines (Générale des Carrières et des Mines). The Cu-Co ore is beneficiated by the sulphidization process at the NCK (New Concentrator of Kipushi) at Kipushi.Sulphidization followed by flotation with sulphydryl collectors is a common practice for the treatment of oxidized base metals ores. This process is complex and its application at the industrial scale is quite sensitive. In Central Africa it is also a cost intensive treatment as the sulphidizing agent has to be imported. In order to improve the metallurgical performances and to optimise the economics of the process, a laboratory research program was carried out by the Laboratory of Metallurgy and Mineral Processing (MTM) of the University of Liège in close collaboration with EGMF and Gecamines. This program included the study of various flotation reagents as dispersing, depressing and activating agents.This paper presents the results obtained with the use of ammonium sulphate as activator of the sulphidized xanthate flotation. Although ammonium sulphate has been mentioned in the literature as a promoting agent of the sulphidized xanthate flotation of malachite, its effects on the flotation of cobalt oxides was not known.The testworks were carried out on various oxidized siliceous ore types from the Luiswishi deposit. A 1.7 l Agitair laboratory flotation cell was used. NaHS and potassium amylxanthate were respectively choosen as sulphidizer and collector. A mixture of gasoil and tall oil (90/10) was used as secondary collector. A multistage sulphidization was realised. Values of pH were followed during the different tests and an ion selective electrode Ag/Ag2S was used to control the Es potentiel evolution during the stepwise addition of the sulphidizer."

Jan 1, 2003

By D. Kumar, B. Rai, S. G. Srinivasan, V. Jain

Chalcopyrite and pyrite are among the major gold bearing minerals in the world. The gold content in chalcopyrite and pyrite varies from 0.02 to 200 ppm and 0.01 to 20 ppm, respectively. Apart from gold, chalcopyrite is also the primary source of copper. Thus, the recovery of gold and copper are often associated with the recovery of chalcopyrite and pyrite. Flotation is one of the most successful methods applied to beneficiate chalcopyrite and pyrite. The success of a flotation process depends on an appropriate choice of the flotation collector used to achieve the desired selectivity. A thorough understanding of the atomic structure of the predominantly exposed mineral surfaces can immensely aid in developing highly selective collectors that can exploit both the physical and chemical characteristics of these surfaces. In the present study, density functional theory calculations within the plane wave framework are used to understand the surface structure and reconstruction of the most stable chalcopyrite (001), (100), (110) and (112) and most stable pyrite (100) surfaces. The chalcopyrite (001) and (100) metal-terminated surfaces undergo significant reconstruction and result in metal-metal bond formation in the sub-surface layer while the surface layer is replaced by S-atoms. On the other hand, the (001) and (100) S-terminated surfaces show S—S disulfide bond formation upon relaxation, which are consistent with literature reports. The chalcopyrite (110), (112) surfaces and pyrite (100) surface undergo rearrangement, but no reconstructions in terms of metal-metal or disulfide bond formation are observed on these surfaces. Keywords: DFT, surface reconstruction, pyrite, chalcopyrite, adsorption

Jan 1, 2020

By W. L. Dare

This publication is one of a series by the Federal Bureau of Minus describing methods and costs of minim, uranium on the Colorado Plateau. The La Sal mine is in the Big Indian mining district, about 29 miles southeast of Moab, San Juan County, Utah. The claims that encompass the mine were located in March 1953, and the La Sal ore body was discovered as a result of a drilling program begun in August 1953. The mine is owned by the La Sal Mining & Development Co., a subsidiary of the Homestake Mining Co. Homestake continued the drilling program and in May 1954 began sinking a 572-foot shaft and constructing a surface plant. The plant and shaft were completed in October 1954. The La Sal ore body is in the Chinle (Triassic) formation. it is tabular and dips with the enclosing beds about 8° southwest. The ore body is generally 4 to 8 feet thick but in a few places is as much as 20 feet thick it is being developed by a series of strike drifts and dip inclines, driven within the ore stratum on about 100-foot centers. A haulage level driven beneath the ore body is connected by raises to the upper workings.

Jan 1, 1957

By J Lyall Workman, Peter N. Calder

Large hole rotary drilling is one of the most common methods of producing blastholes in open pit mining. Large hole drilling generally refers to diameters from 9 to 17 inch (229 to 432 mm), however a considerable amount of rotary drilling is done in diameters from 6½ to 9 inch (165 to 229 mm). These smaller diameters are especially prevalent in gold mining and quarrying.

Jan 1, 1996

By William R. Rumbold

WHEN I was in South Africa during the latter part of 1904, there were three known tin-fields, which may be called the Cape Town, the Bushveld and the Swaziland fields. THE. CAPE TOWN TIN-FIELD. This district is situated near Kuils river, 20 miles west of Cape Town, and 5 miles from Kuils River station on the Cape Town & Stellenbosch Railway. The deposits are in granite, intrusive in the Malmesbury beds, which are supposed to be of Silurian or Cambrian age. The granite, resisting denudation better than the surrounding shales,, has formed low-lying hills, the highest of which, the Bottlelary Berg, is 1,510 ft. above sea-level. , The rock consists of quartz, orthoclase feldspar and biotite mica; tourmaline is also present. The feldspar occurs in large crystals. The rock is generally decomposed on the surface, and the decomposition sometimes extends as deep as 100 ft. This formation-granite intrusive in Silurian shales-extends for many miles to the northeast, but so far as I know the Kuils River deposits are the only ones now known to occur in it, though probably further prospecting will reveal other deposits. This particular discovery was accidental;. alluvial tin being found in the course of boring for oil. The Kuils River Deposit. This comprises both lode and alluvial tin. The lode strikes N. and S., and dips about 30° E. into the hill. It is 5 ft. wide, and composed of dense white quartz, in which pinkish-gray cassiterite is distributed in large crystals. The vein also contains considerable quantities of wolfram. Fig. 1 is a rough plan of the relative positions of the lode and the alluvial deposit, the latter, as shown, following the course of a stream, while the lode crops out on the hillside

Jan 7, 1908

By Lev Malytin, Alexander Dyachenko, Roman Kraydenko

"A new method of processing beryllium raw materials based on interaction of beryllium mineral with ammonium fluoride was developed. Possibility of extracting ammonium tetrafluoroberyllate from bertrandite and phenakite minerals is proved. The developed technology allows replacing the outdated sulfate technology developed by Materion Corporation. INTRODUCTION Beryllium is a strategic metal, which is produced only in three countries: the USA, China and Kazakhstan. The world production of beryllium amounts to only 300 tons per year. More than 75% of the world beryllium production is manufactured from oxide beryllium ores in the USA by Materion Corporation. In Russia there is a large-scale beryllium ore deposit «Ermakovskoye» containig over 1 million ton of ore. Concentration of beryllium in ore amounts to 1,2%. Since the mineral base of ore is calcium fluoride, the sulfate technology of Materion Corporation cannot be used. After alloying and sulphuric acid leaching the fluorine-ion found in fluorite and beryllium together evolve into the aqueous phase. At the stage of Be(OH) precipitation fluoride-ion prevents complete isolation of beryllium into the phase of hydroxide, which increases the loss of beryllium. A new ammonium-fluoride method for processing high-fluoride beryllium ores has been developed at Tomsk Polytechnic University. The ammonium-fluoride method involves fusion of ammonium fluoride (NH4HF2) with a beryllium concentrate. The concentrate containing 10% of beryllium oxide and 25% of calcium fluoride is produced by flotation from the ore of Ermakovskoe deposit. The main component of the ore concentrate is fluorite CaF2, which does not react with NH4HF2. Beryllium in this concentrate is represented by two minerals: phenakite Be2(SiO4)2 and bertrandite Be4[Si2O7](OH)2. Ammonium fluoride, unlike sulfuric acid, does not react with calcium fluoride and is not consumed for decomposing the mineral base of the concentrate. Ammonium fluoride is an accessible and environmentally safe reagent, worth up to $ 1,200 per ton. The total amount of ammonium fluoride is recycled and is used for decomposing a new batch of beryllium concentrate."

Jan 1, 2018

By Lev Malytin, Alexander Dyachenko, Roman Kraydenko

"A new method of processing beryllium raw materials based on interaction of beryllium mineral with ammonium fluoride was developed. Possibility of extracting ammonium tetrafluoroberyllate from bertrandite and phenakite minerals is proved. The developed technology allows replacing the outdated sulfate technology developed by Materion Corporation. INTRODUCTION Beryllium is a strategic metal, which is produced only in three countries: the USA, China and Kazakhstan. The world production of beryllium amounts to only 300 tons per year. More than 75% of the world beryllium production is manufactured from oxide beryllium ores in the USA by Materion Corporation. In Russia there is a large-scale beryllium ore deposit «Ermakovskoye» containig over 1 million ton of ore. Concentration of beryllium in ore amounts to 1,2%. Since the mineral base of ore is calcium fluoride, the sulfate technology of Materion Corporation cannot be used. After alloying and sulphuric acid leaching the fluorine-ion found in fluorite and beryllium together evolve into the aqueous phase. At the stage of Be(OH) precipitation fluoride-ion prevents complete isolation of beryllium into the phase of hydroxide, which increases the loss of beryllium. A new ammonium-fluoride method for processing high-fluoride beryllium ores has been developed at Tomsk Polytechnic University. The ammonium-fluoride method involves fusion of ammonium fluoride (NH4HF2) with a beryllium concentrate. The concentrate containing 10% of beryllium oxide and 25% of calcium fluoride is produced by flotation from the ore of Ermakovskoe deposit. The main component of the ore concentrate is fluorite CaF2, which does not react with NH4HF2. Beryllium in this concentrate is represented by two minerals: phenakite Be2(SiO4)2 and bertrandite Be4[Si2O7](OH)2. Ammonium fluoride, unlike sulfuric acid, does not react with calcium fluoride and is not consumed for decomposing the mineral base of the concentrate. Ammonium fluoride is an accessible and environmentally safe reagent, worth up to $ 1,200 per ton. The total amount of ammonium fluoride is recycled and is used for decomposing a new batch of beryllium concentrate."

Jan 1, 2018

By Michael Moran

Typical ACIP Pile Rig [ ] Hollow Stem Auger ? Continuous flight auger ? 3 inch inside diameter pipe ? Auger diameters: 12, 14, 16, 18, 20, 22, 24, 30, and 36 inches ? Auger section lengths: 4, 5, 10, and 20 ft ? Weight ranges from about 70 lbs per ft for 12 inch to 120 lbs per ft for 24 inch and 200 lbs per ft for 36 inch

Jan 1, 2005

By Xuanxue Mo, Kaihui Yang, Steven D. Scott

Abstract -The Changning-Menglian metallogenic belt in western Yunnan, China, is characterized by the occurrences of both Pb-Zn-Cu and Cu massive sulfides in Permo-Carboniferous mafic volcanic sequences. These deposits were formed in a back-arc basin at a rifted continental margin in the Paleozoic Tethys Ocean. Pb-Zn-Cu deposits are associated with alkalic basalt, andesite, and lesser felsic volcanic rocks intercalated with limestone, which probably formed along an immature rifting segment on a continental basement. These volcanic rocks are enriched in K, Ti, LREE, and other incompatible elements, and have the attributes of alkalic within-plate basalt. An extensive unit of sulfide- carbonate-silica shale in proximity to massive sulfides contains high values of Mn, As, Mo, W, Sn, Sb, and Hg, and has REE patterns that are similar to the volcanic rocks. This, together with the graded bedding in the footwall volcanic rocks, suggests that the sulfides precipitated in a shallow, unstable, and carbonate-saturated volcanic basin. A stringer zone is traced downward for 500 m below the massive sulfide orebodies. It is characterized by an upper sericite-quartz zone and an extensive lower skarn alteration with enhanced W, Sn, and Bi. Lead isotope data show both continental basement and magmatic sources may have supplied the ore metals. Cu deposit and occurrences are hosted by tholeiitic units that represent the mature spreading segments in the back-arc basin. The tholeiitic lavas have LREE-depleted or flat REE patterns similar to MORB or back-arc mafic lavas. The cupriferous massive sulfides are overlain by an extensive unit of chlorite-magnetite or ochre, suggesting a relatively oxygenated oceanic basin. Ni and less Co mineralization is found in dolomite veins of the stringer zone. Enhanced concentrations of Ni, Co, Au, and As are found in the massive sulfides and in sulfide-rich tuffites. The geological setting and mineralization of the Changning-Menglian belt has similarities with modern back-arc basins such as the Manus Basin in the western Pacific.

Jan 1, 1999

By J. Chipman, T. P. Floridis

The equilibrium of gaseous H2O-H2, mixtures with liquid iron is used to establish the activity coefficient of dissolved oxygen as log f o = — 0.20 [%O]. Discrepancies in earlier work are explained or eliminated. Additions of cobalt, molybdenum, tungsten, and platinum increase the activity coefficient of oxygen whereas copper and gold decrease it. THE importance of dissolved oxygen as a refining agent in liquid steel has led to a number of studies of its thermodynamic properties. It is the purpose of this paper to examine the effects of a number of alloying elements on the activity of oxygen in the steel bath. As a preliminary to the study of the effects of alloying elements, it seemed desirable to examine certain minor discrepancies in the published data on the properties of oxygen in simple iron-oxygen solutions. The activity and free energy of oxygen in liquid iron were studied by chipman1 in 1933 by means of the reaction h2(g)+-o = H2O (g);K; = PH2O/PH2[% O] [1] The data were in fairly good agreement with calculations from results on the similar reaction CO (g) + O- = CO2 (g); K2 =P CO2/P CO [% O] [2] which had been obtained by Vacher and Hamilton2 as an incidental part of their study of the reaction of carbon with oxygen dissolved in the melt. It was found that the equilibrium ratio k1 was not a true constant but varied with the oxygen concentration in the manner shown in Fig. 1, which is copied from the original paper. This early observation has been refuted in subsequent work but is confirmed in the present paper, and an explanation of the discrepancy can now be presented. In Fig. 1, the two points on the extreme right were disregarded in drawing the

Jan 1, 1959

By R. W. Smith

The Bureau of Mines has been engaged in a systematic evaluation of the thermodynamic properties of combustion gases. These studies were designed to provide basic thermodynamic information of high accuracy, facilitating the theoretical study of flame and combustion phenomena.4 This report is the fifth of a series5/ presenting results of the study for particular fuel-oxidant systems. These calculations have as their objective the constant pressure flame temperature of acetylene-air for a range of pressures.

Jan 1, 1954

By Timothy Collins

There was once a speculative period of interest in small mining companies that is commonly referred to as "the uranium boom of the 50's." In the late 60's, there was a second mining stock boom: it centered around uranium and silver, when silver had reached a new high of $3.60. In the mid 1970Js, there may be a new boom in the making, and it appears that substantial public and institutional interest in mining equities will finally result in a viable long-term capital market rather than the boom-or-bust pattern of the 50's and 60's. The reason for Wall Street's renewed interest in mining is understandable: most mineral commodities have recently gone up in price. Domestically, these price increases have come in the wake of the inflationary spiral unleashed by years of unbridled government deficit spending and erratic fiscal and monetary policies. Internationally, of course, the biggest push for higher prices has come from third-world countries whose primary income derives from indigenous natural resources. Many of these countries-whose fiscal and monetary policies haven't been models of excellence either-have attempted to cope with the worldwide economic mess by forming cartels that could control the price of commodities. What's happened to petroleum is well-known; what's happened to copper, bauxite, phosphate, and uranium is part and parcel of the same syndrome.

Jan 9, 1975