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By Trevor R. Ellis

"The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned.Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis.Between 1989 and 1995, all 50 states and essentially all Federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers."

Jan 1, 2003

By H. W. Gillett

UNLIKE most previous Howe lecturers, I had not the good fortune to be associated with Henry Marion Howe, nor to be directly one of his students. Yet, through his writings, he has been my teacher, as he has of all American metallurgists. Instructive as his writings are-I use the present tense because Howe thought so keenly and reasoned so surely, seeing clearly, as if by intuition, what was hazy to lesser minds, that his writings are still vital-it is not, those books and papers, nor even the minds he trained in his classes, that were his most outstanding service. It was the spirit of Howe in his: approach to the problems of metallurgy, his broad-mindedness and fair-ness, his recognition of the need for theories and hypotheses to explain metallurgical phenomena, his willingness to use them as servants, as well as his questioning attitude-his refusal to accept them as masters-that comprise his greatest service. This most thoroughly warrants the honor the Institute pays each year to his memory. These traits I so respect and honor in any man that I glory in this opportunity to do reverence to him in whom they were so notably united.

Jan 1, 1939

The accompanying supply/demand flow diagrams and 10-year tables for mineral and fuel commodities present essential data required by government, industry, and others to formulate policies and programs that can help assure an adequate and continuing supply of mineral raw materials. The 10-year data base terminates with 1975 figures because adequate world information was not available beyond that date. The selected mineral supply/demand tables and flow diagrams comprise but one "output" from the massive body of information and data collected and compiled by the Bureau of Mines on a continuing basis covering mineral production, consumption, prices, shipments, imports, exports, and stocks, as well as industry activities in all States and abroad.

Jan 1, 2012

By Arthur R. Rattew

In conjunction with the research study of the Coronation Mine recommended by the National Advisory Committee on Research in the Geo-logical Sciences and coordinated by the Geological Survey of Canada, Canadian Aero Service Limited per-formed a detailed, low-altitude air-borne survey over a block of ground encompassing the .Coronation Mine. The in-phase/out-of-phase air-borne electromagnetic data are com-pared with "horizontal-loop" ground data with reference to: size and nature of conductors detected; criteria in selection of targets for drilling. In-formation provided by Hudson Bay Mining and Smelting Company on their drilling of the numerous conductors in the area is employed in this comparison. The merits of combining a sensitive airborne magnetometer with an air-borne electromagnetic unit are discussed. The magnetic data are considered very important in assessing conductors as prospects for commercial sulphida deposits in this area of numerous electromagnetic anomalies. The "Coronation" survey illustrates

Jan 1, 1962

By Arthur Mackwell

The role of the precious metals is changing rapidly. They are becoming primarily materials of modern industry, and their decorative and monetary functions are diminishing in relative importance. Certainly gold is still the premier metal for jewelry, as silver is for silverware. But these uses are not growing nearly so fast as are the uses of these metals in a variety of industries. This is even more true of the platinum metals. Moreover, this is true despite the fact that the precious metals are highly expensive and liable to substitution by the base metals in cases where this is feasible. For the fact is that the physical and chemical properties of the precious metals make them relatively invulnerable to substitution; where they can be replaced by the base metals, they have been, and the opportunity for further substitution is, therefore, limited. SILVER In November 1969 the United States Treasury stopped minting the only remaining coin with any silver content. That was the silver-clad Kennedy half dollar, which had a silver content of approximately 40%. The step was taken out of necessity, because of the rising shortfall between world mine production and consumption. It was important to divert the 35 to 40 million oz of silver per year used for the minting of this coin into the open market, where it would be available for industrial consumption. This decision was important, not only for its practical effect but also for what it symbolized. Only four years earlier, in 1965, the Treasury had used 320 million oz of silver" for the full range of coinage. Now not an ounce of silver goes into the United States coinage. The reason is simple and yet complicated. For many years the U.S. Treasury had purchased silver at prices which provided a subsidy to domestic producers. As a result, silver producers were eager to sell to the Treasury, and that agency built up a huge supply of the metal -almost 2 billion oz by- 1961. But, as the free-market price neared $1.29, the basic melt value of the coinage, the Treasury became a seller of silver, not a buyer, and its stock was depleted rapidly. The Treasury lost more :than a billion ounces of silver in the years 1962 through 1965, and it continued to lose silver, both through coinage and through sales to consumers, through 1969. The Government continued to sell silver to consumers at the rate of 1.5 million oz a week, even after terminating the 40% silver Kennedy half dollar. But it was apparent that the Government stocks could last no more

Jan 1, 1976

By F. Mielli

Camera systems and video surveillance are usually associated with people and asset protection. However, they can be applied in a mine environment beyond conventional surveillance: For process monitoring, collision avoidance, sizing, flotation cells, conveying systems, blasting, objects and people tracking, thermal profile, and to automatically identify equipment that is missing parts,. Image and video solutions can be driven by better integration of powerful video analytics and cameras systems in automation tools such as process controllers and supervision systems.

Feb 27, 2013

By A. J. Williams, R. B. Corbett

"INTRODUCTION This investigation was undertaken to obtain information concerning the effects of boron in steel and its method of addition, so that boron, which is readily obtainable domestically, may be used to relieve the great demand for those scarce, strategic, alloying elements that hitherto have been considered necessary for the successful manufacture of quality steel.Previous Work Guillet 4/ seems to have been the first to predict that boron-bearing steel might have a possible industrial use when, in 1907, he published results of an investigation into the properties of steel containing 0.21 to 1.51 percent boron.Possibly Walter 2/ was the first to appreciate the fact that extremely small percentages of boron are effective in improving the properties of a steel. His patent, issued in 1924 claimed steels containing boron within the limits of 0.001 to 0.100 percent; furthermore, the specifications disclosed that boron increased the hardenability of steel and refined its grain structure. In 1937, Naton and Piwowarsky 6/ otherwise observed that boron increased the hardenablity of steel."

Jun 1, 1945

By C. Travis Anderson

"Nickel is an essential metal in stainless steel, armor plate, and nickel steels and also in nonferrous alleys, such as monel metal and cupre-nickel, which are used in marine service. Nickel is one of the metals that must be greatly restricted in civilian use to provide the amounts needed for our War program. Consequently, it is desirable to investigate every possible substitute.The 5-cent coin no z in use contains 2.3 percent nickel. At the end of 1941, about 450 tons of nickel was being consumed annually to produce these coins. If the nickel used for that purpose in 9141 had been diverted to military use, 15,000 tons of armor plate could have been produced. As nickel is vitally needed for military as well as essential civilian products, it would seem desirable to substitute some other alloy for the 25 percent nickel alloy now being used. The Bureau of Mines has been asked to suggest possible substitutes.The substitute should have physical properties similar to the alloy now being used. It should have a metallic appearance and ring and a reasonably white color, so to be distinguishable from the present 1-cent coin. It should also be reasonably resistant to corrosion."

Aug 1, 1942

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs, and Mine Management 156, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Calif.]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4. N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvarl-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcade Bids. Santa Barbara, Calif.]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1893 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management ` 188, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 8 Haward-Canfleld Bldg. Santa Barbara, Calif.]

Jan 1, 1952

By CHARLES M. A. STINE

THE value of chemical research has been so thor¬oughly demonstrated in the last few decades that the general public has become "research-conscious" to an extent which allows the advertising agent and publicity man to make use of research as a selling point in his advertising campaigns. We thus see the advertisements of concerns in the most varied industries stressing the research which is back of their products. The reason for this "research-consciousness" of the general public. is primarily that the products of research have increasingly engaged public attention and have. revolutionized our daily life. When we. reverse the flight of .time and imagine ourselves-in the century previous to our own, we find that we are .without the automobile, the radio, the improved telephone and electric light, refrigerated transportation, the airplane, X-rays, and many other things now taken for granted. A generation ago we find gloomy prophets foretelling the certain over-population .of the world within a few decades and an insufficiency of food due to lack of the fixed nitrogen which is now so plentifully ours.

Jan 1, 1930

By Tim O’Neil

Nearly 4,800 mining professionals and exhibitors occupying 580 booths attended the 2000 SME Annual Meeting and Exhibit, Feb. 28-March 1, in Salt Lake City, UT. The technical program included80 sessions and four specialty symposia: bulk material handling, control 2000, minor elements 2000 and plant operaters. Meeting highlights included the keynote session. Executive shared their perspectives on pivotal issues and approaches to address the challenges of the new millennium. SME has begun planning for its 2001 Annual Meeting, Feb. 26-28, in Denver, CO. The meeting carries the theme “2001 — A Mining Odyssey.” A call for papers has been issued and exhibit space is 80% reserved. For information, visit SME’s website, www.sme-net.org. Or write Box 625002, Littleton, CO 80162-5002,ph 800 763 3132 or 303 973 9550, fax 303 979 3461, or email meetings@smenet.org.

Jan 1, 2000

By Arthur Notmon

WORLD production of the three major nonferrous metals, copper, lead, and zinc, in 1939 will aggregate about 6,050;000 tons, compared with the all-time peak of 6,237,944 tons in 1937, and the previous peak of 5,679,442 tons in 1929. The United States will furnish 30.9 per cent of the total compared with 30.4 per cent in 1937 and 41.3 per cent in 1929. Table 1 gives the details of the three metals.

Jan 1, 1940

By Theodore H. Boggs

The battle of the gold standard is not limited to one country alone, or even to a single group of countries. It is being waged merrily in many important commercial and industrial quarters. Though it is not always a practical issue calling for immediate attention, it is none the less, quite widely, engaging the thought of bankers and other students of finance. The controversy arises, in the last analysis, because of the desire of men to secure a stable currency. There are two ways of restoring a reasonably stable currency system: (1) the re-establishment of the gold standard, or (2) the deliberate and artificial management of a paper currency. Both systems are well known. The gold standard was in use prior to the war in the principal commercial countries. A currency of inconvertible paper has been at times employed in the past in various countries; for example in Britain from 1797 to 1821, and in the United States from 1862 to 1879. The gold standard, as all are aware, implies the selection of gold as the standard of value. The unit of value is a fixed weight of gold and, so long as the standard remains unimpaired, all other means of payment are maintained at a parity with standard gold coins. And gold coins alone constitute the standard money, inasmuch as their value as bullion equals their value as coins. Under the gold standard this would not be true of any other form of money, although all other varieties of money, including bank notes, government notes and silver coins would be freely convertible into gold money. Strictly speaking, the gold standard also implies that the gold money in turn shall itself be freely convertible, through melting, into gold bullion and freely exportable.

Jan 1, 1925

On the preceding pages, operations of the four major producers of nickel today have been described. There are, however, other operations in the world that, while not as large, are still of importance to the over-all picture of the industry. Among these are the Finnish producer, Outokumpu Oy, a state-controlled company that operates the Kotlahti mine 200 miles northeast of Helsinki. The ore from this operation, which began production in 1959, is pentlandite, chalcopyrite and pyrrhotite, occurring as disseminations in the host rock and in breccias. The flowsheet of the 1500-tpd mill at Kotlahti follows standard practices of crushing, grinding, and flotation to produce a pentlandite-pyrrhotite concentrate and a copper concentrate, both of which are shipped to the smelter at Harjavalta.

Jan 10, 1968

By H. D. B. Wilson, W C. Brisbin

The Thompson-Moak Lake nickel belt lies along the root of a Precambrian mountain range of the island-arc or alpine type. This range coin-. cides with the boundary between the Superior and Churchill blocks of the Canadian Precambrian shield. The nickeliferous peridotites and nickel ores occur along a negative gravity strip, which also coincides with strong thrust faulting and the axis of greatest deformation of the mountain range. Similar structures and highly nickeliferous peridotites occur in present-day island arcs. Much of the belt is covered by Paleozoic rocks, but a length of 270 miles may be explored by present-day methods. Nickel deposits have been located along 60 miles of the belt. The length of the favorable structure and the size of the known deposits suggest that this will be one of the world's major nickel regions. The regional gravity anomalies, which consist of a branching negative strip bordered by two positive strips, are best explained by major warps of a crust consisting of a granitic and basaltic layer. The ore deposit

Jan 1, 1961

By Karl J. C. Harries

"10.1. INTRODUCTIONDefinitions are a necessary part of every agreement. Their purposes are to assist the reader in reading and understanding an agreement and to attempt to avert potential confusion and, therefore, disputes. In some circumstances, they may be critical in deciding a dispute. As they are often substantive, they should not be treated lightly.It is far easier and less confusing for a reader to read “the Company” or “the Recipient” than to be faced with “the party of the First Part”, or to see the “Jones Property” than “that part of the property hereinbefore described in paragraph 1.01 hereof”. It is also advisable not to use “-ee” and “- or”, as in payee and payor.One thing must always be remembered: once a word has been defined in an agreement, it will always have the defined meaning unless the contrary is clearly indicated or is required to make sense of a provision.2 It can be confusing for a reader if commonly used words are defined in other than ordinary terms. Unique words that will stand out in the text are more likely to be recognized as having special meaning. It is also good practice to identify defined terms by capitalizing them in the text of the agreement. Boldfacing of definitions is also sometimes used for this purpose but, as boldfacing is not easily identified in handwritten revisions, it can be missed in the press of negotiations, especially when several typists are involved. Lack of consistency in identifying defined terms is not a fatal mistake, but it can create confusion, especially if the reader is new to the agreement or is reading it in a highly technical manner, such as when there is a dispute.If definitions used in the main text also apply to a schedule, they need not be included in both. Omitting them from the schedule makes the agreement look shorter, which to some people is a benefit. If definitions are not repeated, make certain that the schedule clearly indicates that words defined in the main text have the same defined meanings in the schedule3 and are clearly identified as defined words. In considering whether or not to repeat in a royalty schedule definitions appearing in the agreement proper, think of definitions as an aid and a reminder to the reader. Repeating them will help a reader, if only by saving the nuisance of remembering where to find them in the main text and constantly turning to it. All the definitions needed to read the schedule will be right there, so that the schedule is a self-contained document. Just make certain that, if you do repeat a definition, you repeat it in identical terms. If you have to change any defined term to make it fit the royalty provisions, use a different word or phrase as the defined term to warn the reader that he is dealing with a different concept.4"

Jan 1, 2003

By R. L. Virta

Ball Clay -- Four companies - H.C. Spinks Clay Co. Inc. (owned by Lhoist Group), Imerys Group (formerly Kentucky-Tennessee Clay Co.), Old Hickory Clay Co. and Unimin Corp. - mined ball clay in four states during 2010. Production, based on preliminary data, was 910 kt (1.11 million st) with an estimated value of $42.9 million. That was a 10-percent increase in tonnage from 831 kt (916 million st) with a value of $37.7 million that was produced in 2009. Tennessee was the leading producer state with 61 percent of domestic production. It was followed by Texas, Mississippi and Kentucky. About 70 percent of production was airfloat, 20 percent was crude and 10 percent was water-slurried.

Jan 1, 2011

By G. R. Hopkins

According to reports received by the Bureau of Mines, Department of Commerce, as of January 1, 1929 there were 413 completed refineries in the United States, with a total daily crude-oil capacity of 3,509,540 barrels. In addition, 14 refineries, with a potential capacity of 99,000 barrels, were being constructed. Of the completed refineries, 341, with a capacity of 3,325,890 barrels, or 95 per cent of the total capacity, were in operation; and 72, with a capacity of 183,650 barrels, or 5 per cent of the total, were shut down. The improved condition of the refining industry in 1928 was indicated in several ways; namely, in an increase in the total capacity of the completed plants, in the opening up of a few plants which were shut down during 1927, in a decrease in the number of plants dismantled, and in an increase in the number of plants under construction. The majority of the refiners have followed a steady expansion program commensurate in most cases with the increase in demand for petroleum products. Obsolete equipment has been dismantled and modern equipment has been installed, with the net result that the total capacity of the completed refineries in the United States has shown a steady increase since January 1, 1918, the date of the first Bureau of Mines survey. Between January 1, 1928, and January 1, 1929, the number of completed plants fell from 423 to 413, but their total capacity increase 259,160 barrels, or 8 per cent. This compares with an increase in runs to stills of domestic and foreign crude petroleum of 10 per cent, and of domestic crude alone of 7 per cent.

Jan 1, 1929