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By Nicola Della Valle

The Singapore Land Transport Authority (LTA) is currently expanding capacity by extending their Metro system from South of the city to the North East end of the island. The scope of Contract 704 involved excavating a long reach of tunnel which had a complex rock/soil interface comprised of fresh granite overlaid by clayey sand. Two 6.5 m diameter Earth Pressure Balance (EPB) TBM’s were used to bore the tunnels. These machines were designed so that both hard and soft rock could be excavated. The cutter head was equipped with a combination of both rippers and disk cutters. Soil conditioning was achieved by delivering foam through a multiple port injection system. This very irregular profile of the interfaces posed many challenges to the equipment and the people.

Jan 1, 2001

By G. Zaitsev

In mining and mineral processing, ammonium and nitrate from residues of explosives and other sources are discharged to the aquatic environment. Nitrogenous compounds in mine water can adversely affect the aquatic environment. The aim of this work was to study the biological removal of nitrate from cold inorganic mine water at the pilot-scale in an operating underground mine. Seven-months pilot testing on biological removal of nitrate from inorganic mine water was successfully performed in denitrifying fixed-bed biofilm reactors. The feed to denitrification bioreactors contained 11 mg NO3--N/L. Methanol was added as an external carbon source to the denitrifying bio-reactor since the inorganic mine water contained only traces of organic compounds (<CODCr (50 mgO2/L). Nitrate removal reached 75 g NO3--N/m3/d with removal efficiencies above 95% at temperature below 4°C. Thus, removal of explosives-residues from cold inorganic mine water was shown in pilot-scale biofilm reactors.

Jan 1, 2014

By J. E. Tiffany

A stick of explosive is a package of stored energy that can be released when needed to blast rocks, coal, and other materials; but, unlike fuels such as coal and gasoline, its potential energy is self-contained, there being enough oxygen within the package to complete the almost instantaneous reaction. When an explosive is ignited or detonated, the solid or liquid materials of which it is composed are converted rapidly into highly heated gases, which, if free to expand, would have a volume many times larger than that of the original explosive. At the instant of explosion these gases occupy only the volume of the shot hole and are therefore produced at a very high pressure, which causes the material that is being blasted to be broken or disrupted. In blasting coal efficiently the proper placement of the shot hole and the confinement of the explosive therein are both of prime importance. When these are not adjusted properly, only a small amount of the energy is expended in bringing down coal, consequently the balance of the energy tends to be expended by the emission of a flame into the working place that may lead to a gas or dust explosion. Permissible Explosives Defined The term "permissible explosive", as applied by the Bureau of Mines to explosives it has approved for use in blasting in coal mines, embraces not only the requirement that the explosive, when used, shall be similar in all respects to the basic sample that passed all the tests necessary for its admission to the published permissible list, but also that the explosive shall be used under certain prescribed requirements.

Jan 1, 1938

By V. V. Musaev, A. M. Klyushnikov, R. R. Galimov

"A study was made of chemical and material compositions of the oxidized gold-bearing ore of the Kochkovskoe deposit. It was demonstrated that examined ore consisted mainly of quartz, carbonate and feldspar with a gold content of 2.2 g/t and a silver content of 6.1 g/t. By means of agitation leaching tests it was founded that about 79-80 % of gold can be extracted from ore using cyanide leaching solutions. The achieved high-speed dissolution rate of gold was due to its presence in a finely dispersed state (less than 2.73 µm), which was confirmed by the research of Uralmekhanobr. It was proposed that the ore can be processed by heap leaching process using cyanide leach solutions. Technological studies on the modeling of the heap leaching process were initially carried out in percolators with a capacity of 5 kg on agglomerated ore. It was preliminary established that agglomeration should be carried out at a cement consumption of 12-16 kg/t, with the moisture content in pellets reaching up to 10-12 %. The best percolation leaching results can be obtained with ore crushed to the size of -20 mm. The maximum extraction of gold to the solution was 79-80 % while the L:S ratio reached 1.2-1.4:1.In cooperation with the research center of OJSC ""Berezovsky mine"" a semi-industrial heap leaching test was accomplished. The result of a test performed was an extraction of 78.5 % of Au and 21 % of Ag from ore to a pregnant solution. This extraction degree was achieved at a L:S ratio 0.9: 1. On the ground of results obtained, a technical regulation was developed for design of the heap leaching plant with the capacity of 500 thousand tons of ore per year.INTRODUCTION The ore of the Kochkovskoe deposit represents an important reserve of gold in the Zabaikal region. Of the upmost interest are oxidized ores, the processing of which can be carried out by heap leaching (HL) with cyanide solutions. The purpose of this work was to study the composition and to develop a technology for heap leaching of oxidized ore."

Jan 1, 2018

By William W. Adams

A larger measure of safety attended the operation of the stone quarries and related plants in the United States during the calendar year 1935 than in any other year for which annual records are available for the industry. The accident rate, covering fatalities and nonfatal injuries that disabled an employee beyond the remainder of the day on which the accident occurred, was 38.19 per million man-hours of work performed. The nearest approach to this favorable record was in 1932 when the rate was 38.48. The rate for 1934 was 41.82; hence the record for 1935 was 9 percent better than that for 1934. Reports from operating companies showed that 51 men were killed by accidents in 1935 and 4,152 men were injured. (See table 37.) The industry employed 73,005 men and performed 110,033,341 man-hours of labor, an average of 1,507 hours of work per man. Measured in man-days, the total volume of labor was 14,623,303, or an average of 200 days of 7.52 hours per day for each man employed. These figures are not strictly comparable with similar figures for the preceding year, as the, coverage of the industry was more complete for 1935 than for 1934 because special facilities were available to the Bureau of Mines for conducting the 1935 canvass that were not available for the 1934 canvass. Reports covering identical plants that were active both in 1934 and 1935 indicate a reduction of about 7 percent in the number of men employed in 1935. This fact suggests that the apparent increase in the number of workers in 1935 is attributable chiefly, if not entirely, to the more complete coverage of operating plants in 1935. The plants from which this inference is drawn employed 21,799 men in 1934 compared with 20,248 in 1935.

Jan 1, 1937

By J. E. Hilliard

AS is well-known, the length per unit volume, Lv, of any lineal feature (such as grain edges in a polycrys-talline specimen) can be estimated from a count of the number of point intersections with a random plane of polish. Specifically:&apos; Lv = 2NA in which NA is the expected number of intersections per unit area of the plane. As with all other measurements in quantitative metallography, the estimation of Lv is subject to a sampling error, the magnitude of which will depend on the number of observations. The analysis is usually performed by counting the number of intersections falling within a closed test figure of known area applied to a succession of different areas on the plane of polish. The test figure can be drawn directly on the screen of a projection microscope or else superimposed on the image of the structure by means of a reticule in a focusing eyepiece of an ordinary microscope. The use of micrographs is very inefficient unless, as in the present study, these are also needed for some other purpose. Consider an analysis in which n applications are made of a test figure within which the expected number of intersections is N. The expected total number of intersections counted is then given by NT = nN If (N) is the standard deviation in N for one application of the figure and if the latter is applied to non-overlapping regions so that the N&apos;s are independent in the statistical sense, then the standard deviation in Nt is given by: a(NT) = a(N)vn Eliminating n from Eqs. [2] and [3] we obtain: Thus, k will be a constant for a given specimen and test figure. From Eqs. [ I] and [4] we find As is to be expected, therefore, the fractional error in the estimation of Lv is inversely proportional to the square root of the total number of intersections counted. It is very desirable to have at least a rough estimate of k before starting an analysis, since it will then be possible to decide in advance by use of Eq. [5J how many counts should be made in order to achieve the desired accuracy in Lv. Without such information the investigator, unless lucky, will either do needless (and tedious) work or else obtain a result with too large an error. It is very easy to calculate k for the limiting case of N — 0, i.e., when the test figure is vanishingly small. In this case there is a negligible probability of two or more intersections falling within the figure. There are therefore only two possible outcomes: a count of one with a probability of, say, p and a zero count with a probability of (I-p). Thus and Therefore: We might expect k to depend on N and therefore on the size of the test figure. Such a dependence was observed2 in the analogous case involving the estimation of grain-boundary area per unit volume by a count of the number of intersections of a test circle with traces of the boundaries on the plane of polish. In this case the theoretical value of k at the limit N — 0 was 1.41. It was also predicted that k would display an initial sharp decrease with increasing N. Experimentally, k was observed to decrease to a value of 0.62 at N - 6 and thereafter remain approximately constant. Furthermore, the value of k for N > 6 was found to be insensitive to the form of the structure provided no pronounced anisotropy or grain-size variation was present. In order to determinewhether k would exhibit a similar dependence on N in the estimation of grain-

Jan 1, 1967

By Gabriel Zarate

"Los Bronces had two ROM dump leach operations designated Leach I and Leach II. Leach I was commissioned in 1998 and stopped in 2014 due to the mine requirements. Leach II plant, commissioned in early 2002, was built to treat around 700 million tons of marginal ROM ore averaging 0.45 % total copper. The mineralogy of this material was estimated to be 70% chalcopyrite, 20% chalcocite/covellite and the balance oxides.The original electrowinning plant design capacity for copper production was nominal 19,500 tonnes per year at a current density of 276 A/m2 and a current efficiency of 92%. Presently, Los Bronces San Francisco plant typically operates at current densities between 390 and 440 A/m2, much higher than the average in the industry, with current efficiencies around 93% and a maximum copper cathodes production of 37,200 tonnes per year.In order to accomplish these achievements, a number of modifications in the process conditions, in the cell hardware and in the operational procedures have been implemented. In the first case, the specific flowrate, copper concentration and temperature of the electrolyte were modified to accommodate the operational requirements facilitating the increased current density. Associated with the cell hardware, a six cells expansion was added, upgraded equipotential inner cell busbars were installed and the cross section of the cathode hanger bars was enlarged for increased current carrying capacity. Documented operational procedures like short circuit detection and cathode weight control were improved.The modifications implemented and the results obtained are discussed in this paper.INTRODUCTIONLos Bronces Division of Anglo American Chile is located up in the Andes Mountains, northeast of Santiago. It had two cathode plants, Los Bronces at an altitude of 3500 meters above sea level (m.a.s.l.) commissioned in 1998 and closed in 2014 and San Francisco at an altitude of 2800 m.a.s.l. and in operation since 2002.The process is leaching run off mine (ROM) low grade copper sulphide ore in dumps. The mineralogy of this material was estimated to be 70% chalcopyrite, 20% chalcocite/covellite and the balance oxides. The average grade is 0.45% total copper (Cut).At Los Bronces dump, Leach I plant, the pregnant leach solution (PLS) was collected and stored in an underground reservoir. From there, it was fed to a solvent extraction plant with a series-parallel configuration in two extraction stages and one stripping stage. The electrolyte produced was fed to the electrowinning plant having 30 cells and 60 cathodes per cell. Maximum capacity of this plant was 12,000 tonnes per year (tpy)."

Jan 1, 2016

By Thomas G. Carnahan

The Bureau of Mines conducted research to simulate in situ leaching of a chalcopyrite ore. The purpose was to obtain a direct comparison between moderate-temperature and elevated-temperature in situ leaching of copper trom minus la-inch ore and to analyze the sulfuric acid and oxygen requirements of the leaching system. Experiments employing oxygen were conducted at 35° and 90° C on 362-and 367-1b ore charges, respectively, under flooded conditions and at 400 psig. At 90° C, 47 pct of the copper was extracted in 913 days of leaching; at 35° C, 27 pct of the copper was extracted in 915 days. Diffusion into and out of the ore fragments con-trolled the rate of leaching. Oxygen consumption was 1.46 lb/lb of copper extracted at 35° C and 3.15 lb/lb of copper extracted at 90° C. Sulfuric acid requirements of the ore were 5.49 and 7.48 lb/lb of copper extracted at 35° and 90° C, respectively.

Jan 1, 1982

By Wallace W. Roepke

The Bureau of Mines determined coal-cutting forces and primary dust generation of four styles of radial gage bits as used on end rings of continuous mining machines. Direct comparisons for reference were made with two widely used conical plumb-bob types having 60&apos; and 90&apos; (nominal) included tip angles. The cutting forces for all of the gage bits were similar to those of the 60°-tip plumb-bob bit. All bits except the RAD-3 gage bit generated similar amounts of primary total dust at shallow cutting, but during deeper cutting, the amounts varied and the gage bits produced as much as 2-1/2 times the dust produced by the 60° bit. This seems atypical since past experience has always shown differences in dust generation at shallow cutting. The specific energy was more like that found previously with other bits, since the values were spread at shallow cutting but became nearly similar at deeper cuts. The 90° bit and the RAD-3 gage bit are not recommended for use except in extremely difficult cutting conditions where dust and forces are of secondary importance. The choice among the remaining four bits can be made on the basis of dust, energy, forces, or cost, as circumstances dictate.

Jan 1, 1983

By Oliver Bowles

This report covers the character, properties, origin, occurrence, and uses of the traprocks and describes briefly the methods and equipment employed in quarrying and preparing them for market. Production of traprock occupies an important place in industry. In 1960 the output in the form of crushed stone reached nearly 58 million tons valued at $87 million. Traprocks are also shaped into blocks of dimension stone for monuments, building construction and decoration, and specialized products such as surface plates.

Jan 1, 1963

By L. J. E. Hofer

"INTRODUCTION This paper is riot to be considered a complete survey of data on carbides; it is only an attempt to correlate the more reliable of the existing data of interest in connection with the Fischer-Tropsch synthesis, and its purpose is to guide future experiment and thought.A general review of the literature on the Fischer-Tropsch synthesis will be published in the near future as a chapter by H. H. Storch for a book entitled, ""The Chemical Utilization of Coal,"" edited by H. H. Lowry. This chapter covers the literature up to l9). It is planned to bring the review up to date in a comprehensive bulletin on Synthetic Liquid Fuel Processes to be completed during the next year. ACKNOWLEDGEMENTSThe author discussed the significance of the data with several members of the Physical Chemistry and Hydrogenation Section.THE PREPARATION OF CARBIDES OF IRON, COBALT, AND NICKELThe reaction of carbon monoxide with Fischer-Tropsch metals was first studied in a quanitaive way by Bahr and his coworkers. The contents of their first papers, 3/ 4/ 5/ which deal with the action of carbon monoxide on nickel, cobalt, and iron, will be described in the following paragraphs, together with the pertinent results of other investigators."

Jul 1, 1944

By K. M. O’Connor

Time Domain Reflectometry (TDR) is a pulse testing technique developed by the telecommunications and power industry for use in locating breaks in cables. Variations of this principle have been utilized in applications pertinent to closure and reclamation of coal operations. This paper focuses on applications of TDR technology in the mining industry including monitoring of slope movement, abandoned mine subsidence, ground water levels and subsurface LNAPLs, landfill cover performance, and consolidation of mine tailings. TDR technology has been particularly effective for remote automated monitoring, and alarm systems have been implemented for monitoring subsidence.

Jan 1, 2003

By N. P. Goss

ASTERISM appearing in X-ray Laue dia-grams is an extremely sensitive index of changes in the internal structures of indi-vidual grains of polycrystalline metals. It indicates the existence of various forms of subboundary structure or subdivision within the grain. The present viewpoint is that the grain is made up of lattice blocks having substantially the same size and shape.1-4 When these blocks all assume exactly the same orientation, the crystal is perfect and asterism is absent. Cleaves and Thompson5 observed that the hardness of iron is virtually constant over a range of grain sizes. It is quite possible that the subboundary structure caused this, and that the latter is just as important as grain size itself. While the experiments reported here are not con-clusive, they do support this viewpoint. Metals can, under certain conditions, be prepared entirely free from asterism, but this preparation does not necessarily require long heating or slow cooling, as will be shown here. In this paper a distinction is made be-tween mosaic and distorted grain struc-tures but the difference is only a matter of degree. In a previous paper9 it was shown that the grains can become distorted even during heat-treatment. The block structure exists inherently, even in a perfect crystal; the size and shape of these crystallites, or lattice blocks, varies, depending upon a number of factors. Goetz, for example,7 has shown that a metal before crystallizing from the molten state must go through a paracrystalline phase with oriented groups of atoms about 10-14 to 10-15 c.c., or 10-5 cm. in size.

Jan 1, 1940

By V. A. Leão, A. M. Silva, S. M. Bertolino, B. C. S. Ferreira, D. Guimarães

Although not considered a high risk pollutant as compared to toxic metals and acidity, environmental agencies worldwide are proposing regulations to control sulphate in effluents and drainages by setting a threshold value varying between 250 mg/L and 500 mg/L. The aim of this study was thus to compare four different techniques for removing sulphate ions from mining/metallurgy effluents. The first alternative studied was sulphate removal by precipitation as ettringite. Treating a synthetic solution containing 1650 mg/L sulphate at 22±1 ºC resulted in removals close to 85% during continuous precipitation. Sulphate sorption was also investigated using three different ion exchange resins as well as limestone. Fixed bed experiments produced sulphate loadings of up to 70 mg SO4 2-/L resin, at pH 2.0. In neutral wastewaters, limestone is also a potential adsorbent producing a maximum particle loading of 19 mg/g. Sulphate sorption on limestone seems to be an alternative to treating mine waters with sulphate concentrations below the 1200-2000 mg/L range, where lime precipitation is not effective. Subsequently, sulphate removal by sulphate reducing bacteria was also investigated and it was observed that reactor’s hydrodynamic conditions and the choice of substrate are important factors for the process. The different technical aspects of each technology are addressed.

Jan 1, 2014

By N. J. Grant, K. M. Zwilsky

A series of copper-alumina dispersion strengthened alloys were prepared using three different copper and two different alumina powder sizes. Improvements in strength of up to ten times that of pure copper were found in room-temperature as well as elevated-temperature stress-rupture tests. Conductivity values remained from 70 to 90 pct that of pure copper. The best alloys were based on the finest metal powder (1 p) and contained from 7.5 to 10-0 vol pet of 0.018 or 0,033 p alumina. DISPERSION strengthening of metals consists of strengthening a metal matrix by the addition of oxides or other refractory constituents, followed by strain hardening, in order to reinforce the base material and extend its temperature range of application. Since the discovery of SAP by lrmannl and Von zeerleder2 in 1949, many investigators have reported data obtained on a variety of metal-inert oxide alloys.3-7 The present work deals with the mechanical mixing of copper and alumina powders. While several techniques of introducing the second phase have been investigated to date, mechanical mixing so far has been recognized as the simplest, least expensive, and most universally applicable technique that can be used to obtain an ultrafine dispersion of inert particles. In the present case, the effects of changing the metal particle size, the oxide particle size and the volume percent of oxide were investigated. This work is an extension of a previous study.6 EXPERIMENTAL PROCEDURE The starting materials were three different grades of copper powder and two different alumina powders. The three metallic powders were -74 µ(- 200 mesh) electrolytic copper powder consisting of irregular equiaxed particles having a normal screen distribution and analyzing 99.5 pct Cu, and two powders having a 5-µ and 1-µ particle size, average, respectively. The latter powders were produced by the hydrogen reduction of purified sulfate solutions at elevated temperature and pressure and were furnished by the Sherritt Gordon Mines, Ltd. The alumina used was obtained from Godfrey L. Cabot Co., under the trade name of Alon C, one batch of powder having a particle size of 0.018 µ, the other a particle size of 0.033 µ. The crystal structure of these alumina powders was found to be cubic gamma. Each batch of powder was mixed in a Waring Blendor for a total of 15 min, followed by a low-temperature reduction in hydrogen and vacuum compacting in cylinders which were hydrostatically pressed at 35,000 psi to give a compact that could be handled conveniently. Six of the compacts were hydrogen sintered at 900°C while the remaining four were sintered at 1000°C. Subsequently, all compacts were hot extruded at 760°C with a reduction of area ratio of approximately 20 to 1. Evaluation of alloys included density and resistivity measurements, room-temperature tensile tests, stress-rupture tests at 450°C plus one other temperature per alloy, hardness tests, microstruc-tural examination, X-ray analysis of the dispersed phase after dissolving the metal phase, and oxidation studies on two of the alloys. A vacuum-melted, wrought copper rod was tested together with these alloys for comparison purposes. RESULTS Table I is a summary of the compositions, sintering temperatures, densities and conductivity values of the ten alloys prepared. All alumina additions are given in volume percent, and will be referred to as

Jan 1, 1962

By Kung-Lee Wang

FOLLOWING the rapid recovery of previous years, the U.S. economy continued the upward trend and moved forward moderately and sporadically during the first half of 1962. There was a slow-down in the recovery rate, which was especially notable in the third quarter. The economy recovered in the fourth quarter, and by the end of 1962 the gross national product amounted to $555 billion, a new high, 7 percent above that of 1961. Production, employment, personal income, and corporate profits all achieved new peaks, but unemployment continued high and the prospects for improvement remained poor. The economy again failed to us~ its full potential; 1962 was a good year, but not good enough. During 1962, all industrial production climbed from the low in January to a high in late summer which lasted through the fall, and declined slightly at yearend. Mining production followed this pattern closely and most sectors were approaching record highs. Most minerals gained in value and volume of production. The steel-associated minerals group was the only exception, and it sustained a small net loss. The nonfuel minerals industry opened the year at a high level, maintained this high level until late summer, with the peak in May, and drifted downward toward the end of the year. The gains recorded by nonferrous metal mining partly offset the loss of ferrous metal mining, resulting in a small gain for metal mining as a whole. The upsurge of construction material minerals output was primarily responsible for the substantial increase in production of nonmetals other

Jan 1, 1963

By John J. Henn

An evaluation is presented for an ammonium sulfate leaching process designed to extract manganese from Cuyuna, Minn., and Aroostook, Maine, deposits. In this process the manganese and iron in the ore are reduced to MnO and Fe 3 0 4 in a shaft furnace; the reduced ore is then leached with ammonium sulfate solution forming soluble manganous sulfate while leaving most of the iron undissolved. After filtration, the manganese and some impurities are precipitated from solution as carbonates which are then pelletized and calcined to form a product composed mainly of Mn3O4. The plants are designed to produce 100 tons per day of manganese contained in a product that is suitable for the production of ferromanganese. A byproduct credit, together with the extra processing cost, is included for the Cuyuna ore processing plants because Fe2O3 may be recovered for use in blast furnaces. The estimated operating costs per ton of manganese, excluding income taxes and return on investment, are: [ ] The process with or without byproduct recovery, when treating Cuyuna or Aroostook ores, is not economically competitive with ores available at $71.43 per ton of contained manganese.

Jan 1, 1968

By J. R. Long, R. S. Dean, F. S. Wartman, E. T. Hayes

The production of titanium in I5-lb. lots and with a purity sufficient to be consolidated into ductile metal, as described in a previous paper,&apos; has provided adequate material for a study of the physical properties of titanium and a more thorough examination of its working qualities. Data on the physical properties reported in that paper were obtained on metal fabricated by a fixed procedure, standardized for the purpose of control of the reduction, and are representative only of material fabricated under those conditions. There are many possible variables in the working schedule, which will have significant effects on the properties of the finished material; and since the previous working methods were not necessarily the best, an investigation of the fabrication of titanium by other methods was undertaken. In this work the consolidation of the powder by pressing and sintering was conducted essentially as outlined in the report cited&apos; and all efforts were centered on fabrication methods for those powders and the proper- ties produced by them. Hardness, density, microstructure, and tensile properties were determined at various stages in the working and annealing; and resistivity measurements were made on a few bars and drawn wire. Consolidation of the PowdeR The screen analysis of the available titanium powder is given in Table I. No attempt was made to alter the size distribution from that noted because this powder, although coarse by normal powder-metallurgy standards, produced acceptable compacts suitable for the present work. Because of their large specific surface, finer powders are more contaminated by oxygen and produce harder compacts, which are difficult to work. The powder as produced is soft, compresses in a normal fashion, and exhibits very little tendency to adhere to the die surfaces. Unlike aluminum and magnesium powders, it can be readily pressed without the use of die lubricants. When compacted at 50 tons per

Jan 1, 1946

By J. R. Long, E. T. Hayes, R. S. Dean, F. S. Wartman

The production of titanium in I5-lb. lots and with a purity sufficient to be consolidated into ductile metal, as described in a previous paper,&apos; has provided adequate material for a study of the physical properties of titanium and a more thorough examination of its working qualities. Data on the physical properties reported in that paper were obtained on metal fabricated by a fixed procedure, standardized for the purpose of control of the reduction, and are representative only of material fabricated under those conditions. There are many possible variables in the working schedule, which will have significant effects on the properties of the finished material; and since the previous working methods were not necessarily the best, an investigation of the fabrication of titanium by other methods was undertaken. In this work the consolidation of the powder by pressing and sintering was conducted essentially as outlined in the report cited&apos; and all efforts were centered on fabrication methods for those powders and the proper- ties produced by them. Hardness, density, microstructure, and tensile properties were determined at various stages in the working and annealing; and resistivity measurements were made on a few bars and drawn wire. Consolidation of the PowdeR The screen analysis of the available titanium powder is given in Table I. No attempt was made to alter the size distribution from that noted because this powder, although coarse by normal powder-metallurgy standards, produced acceptable compacts suitable for the present work. Because of their large specific surface, finer powders are more contaminated by oxygen and produce harder compacts, which are difficult to work. The powder as produced is soft, compresses in a normal fashion, and exhibits very little tendency to adhere to the die surfaces. Unlike aluminum and magnesium powders, it can be readily pressed without the use of die lubricants. When compacted at 50 tons per

Jan 1, 1946

By Robert B. Wickham

"American Barrick has always balanced its aggressive operating approach with a conservative financial strategy. In fact, what enables their mining team to pursue such aggressive plans with confidence is the conservative financial strategy adhered to by the company. These policies are built on a prudent mix of gold linked financings, equity and gold price hedging.This paper outlines these policies and focusses in particular on American Barrick&apos;s gold price hedging program.IntroductionThe company&apos;s balance sheet at the end of 1990 clearly shows the wisdom of its conservative policies. Total assets have grown to over US$1 billion; cash has grown to US$312 million and shareholders&apos; equity to US$645 million. All amounts included in this paper are quoted in U.S. dollars. Increased gold production and an effective gold price hedging program also combined to produce record income from operations, earnings and cash flow in 1990.The first half of 1991 is also indicative of the benefits of the company&apos;s conservative financial policies. Increasing production, together with its comprehensive gold hedging program, has generated increased earnings, even in a period of falling gold prices.All year-over-year numbers for the first six months are up. Gold production was 36% higher; earnings of $40.2 million $ 0.30 per share - were 46% higher than 1990.Barricks revenue continued to increase despite gold prices remaining unchanged during 1990. Barrick&apos;s hedging policy protects the company from falling gold prices on the basis that the upside looks after itself. Their hedging program - including various goldlinked fmancings - enabled Barrick to realize an average price of $437 per ounce of gold sold in 1990, compared with the Comex average gold price for the year of $384 per ounce."

Jan 1, 1991