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By Diogo Fonseca, José Manuel, Nuno Fernandes, Blessing Taiwo

This research focuses on enhancing the synergy between blasting and primary crushing operations in quarries. A blast operation at dstgroup aggregate quarry in northern Portugal was simulated to fine-tune blasting techniques aimed at optimizing fragmentation indicators. The methodology involves conducting precise blast drill hole surveys, generating detailed terrain 3D models, and integrating these models into blast simulation software to enhance accuracy and optimize production efficiency. The study applies these simulations to test blasts, evaluating improvements in cost-effectiveness, crusher power consumption, and fragmentation efficiency using both aerial and terrestrial image analysis technology. The quarry key performance indicators (KPIs) guide the blast design simulations, ensuring practicality and relevance. The case study blast revealed that implementing optimum blasting techniques can enhance crusher throughput, reduce operational costs, and improve safety. This paper is part one of a three-part technical series where we aim to create a sampling procedure and establish a reliable baseline for the current state of operation. This baseline will be used in subsequent follow-up technical papers to make recommendations and improvements. The outcome of this study provides a framework for quarry operations seeking to enhance their efficiency.

Jan 21, 2025

By Diogo Fonseca, José Manuel, Nuno Fernandes, Francisco Monteiro, Andrew Palangio, Blessing Taiwo

This study aims to enhance the integration between blasting and primary crushing operations in quarrying by optimizing the size of oversize and bypass fragments, ultimately reducing energy consumption. Using simulations of multiple blast rounds at the dstgroup aggregate quarry in Portugal, the research seeks to refine blasting practices and improve crushing efficiency. Part 1 of this study, presented at the International Society of Explosives Engineers' 51st Annual Conference, introduced a baseline framework for assessing the compatibility between blasting outcomes and crusher requirements. This methodology was applied to two blasting rounds, revealing discrepancies between expected and actual fragmentation results. The assessment raised key questions, including the root causes of fragmentation mismatches and the identification of controllable parameters that can be adjusted to align the particle size distribution (PSD) with the crusher’s optimal input range. Based on these findings, six key modifications were proposed to improve blast performance: (1) reducing the drill and blast pattern to limit boulder formation in the overlapping regions of hole influence, (2) increasing both the size and length of stemming material to enhance energy confinement, (3) decreasing subdrill depth to prevent toe burden issues from toe deviation, (4) modifying inter-hole timing to relieve back hole burden, and (5) improving drilling accuracy. Part 2, presented at Fragblast 14, explored advanced modifications to the initial blast design. The first adjustment was reducing subdrill and altering stemming material resulted in an 11% reduction in D80, a 19% decrease in maximum fragment size, and a 21% improvement in blast fragmentation efficiency. These changes shifted the PSD by 15% closer to the crusher compatibility envelope established in Part 1. Despite these improvements, boulder generation persisted in the front and back rows of the blast. This third part of the study focuses on implementing the remaining recommended modifications from Part 1 to further enhance blast efficiency and ensure crusher compatibility. The findings contribute valuable insights into the benefits of integrating blasting and crushing optimization strategies to achieve more consistent and efficient fragmentation outcomes.

Jan 26, 2026

The Mount Morgan eopper-gold orebody is contained within a series of Mid-Devonian volcanics which occurs as a roof pendant within Permian granite. The ore minerals comprise pyrite, chalcopyrite, and local aggregations of magnetite and pyrrhotite. Silver-rich gold (electrum) is disseminated through the ore usually in ultrafine to sub-microscopic dimensions. Accessory minerals include marcasite, digenite, chalcocite, covellite, sphalerite, bismuthinite, molybdenite, calaverite, petzite, and cassiterite.Very minor accessories include cubanite, tetrahedrite, galena, arsenopyrite, hematiIe, goethite, and rutile. The gangue minerals are quartz, predominantly, with minor amounts of chlorite and sericite.Study of microtextures of a representative suite of specimens from Mount Morgan does not reveal any criteria indicative of metasomatic replacement but does show, in the case of pyrite, evidence strongly suggestive of annealing recrystallization. Other textures in pyrite indicate porphyroblastic growth of the iron sulphide.It is inferred that the Mount Morgan orebody is genetically related to the volcanic rocks and was later contact metamorphosed by the intrusive granite or by the series of intermediate to basic dykes that transect inmine area. On this basis the Mount Morgan orebody would be a contact metamorphosed volcanic hydrothermal deposit emplaced, according to recent studies, along a pipe-like zone of brecciation.

Jan 1, 1967

By William A. Fuchs

A study of carbonaceous ore at the Santa Fe mine (Corona Gold Inc.) shows that there is no quantitative relationship between organic carbon content and preg rob, although much of this material preg robs. However, there is a relation between K20 and preg rob. Preg rob generally occurs only in those samples with greater than 2% K20. X-ray diffraction and chemical . studies show that the critical factor is the illite content of mixed (possibly interstratified) illite-smectite. Apparently illite, at a certain threshold, "geo-activates" the carbon. The potential for easily monitoring preg rob using a gamma ray spectrometer is discussed.

Jan 1, 1990

By Graham J

The successful processing of arsenopyritic ores is difficult and will be facilitated by a better understanding of the mineralogy of gold within arsenopyrite and the type of arsenopyrite in which gold is taken up. Solid solution gold in arsenopyrite is now well documented, and is a significant cause of refractory behaviour in gold processing. Investigations of the crystal structure and stoichiometry of arsenopyrite by X-ray diffraction, electron microprobe analysis and convergent beam electron microscopy have been carried out in order to understand how the gold is incorporated into the structure. Variations in stoichiometry, particularly the As:S ratio, of arsenopyrite leads to variations in structural parameters. These variations result in slight changes in thermal behaviour. The distribution of invisible gold in an arsenopyrite grain is generally non-uniform and synthesised samples contain up to 2 wt per cent gold. A transmission electron microscopy (TEM) technique called ALCHEMI is being used to identify the substitution site. The process of gold agglomeration together with evidence of an ordered breakdown of arsenopyrite to pyrrhotite has been documented with the use of TEM. An arsenopyrite grain containing invisible gold was heated with an electron beam resulting in recrystallisation of arsenopyrite to pyrrhotite with arsenic being expelled. The gold is mostly insoluble in the pyrrhotite lattice and therefore exsolves out and combines with other gold atoms to form droplets at the boundary of the pyrrhotite.

Jan 1, 1992

By J. M. D. Wilson, W. Petruk, C. Coté

"The behaviour of minerals in the Mount Wright spiral circuit was investigated to find methods of improving iron oxide mineral liberation and recovery. The feeds, concentrates and tailings from rougher, cleaner and recleaner spirals in one mill line were sampled before and after the sizing screen openings were reduced from 2 mm to 1.6 mm. Sized fractions of each sample were analyzed with the MP-SEM-IPS image analysis system at CANMET to determine mineral quantities and liberation characteristics of the iron oxide minerals. Mass balance techniques were used to calculate stream recoveries of iron, silica, total iron oxide minerals, hema¬tite, goethite, quartz, ferromagnesian silicates, and liberated and locked total iron oxide minerals for each sieve fraction.The reduction of the sizing screen openings increased the ap¬parent liberation of the total iron oxide minerals in the screen undersize from 89% to 94% and raised the over-all iron recovery from 84.4% to 85.3%. Apparent liberation of iron oxide minerals in the cleaner sand also increased from 70% to 85%, but the – 75 µm fraction re¬mained the only fraction containing an acceptable amount of liber¬ated iron oxide minerals in each case. Due to limitations of spiral and grinding efficiency it is recommended that the cleaner sand be screened at 300 m, the +300 m fraction be reground, and the – 300 p.m fraction be rerouted to the rougher spirals.The amount of fine liberated iron oxide minerals (– 106 m) lost in the tailings was 46 TPH in mill line 3. This value represents 41 wt % of the free fine iron oxide minerals, or 7 wt % of the total iron oxide minerals in the spiral feed. Further work is needed to investigate the possibility of recovering this material by other methods.Middling iron particles (010 50%) and presumably free gangue in the size range –300+ 75 m tend to be recovered by spirals by entrapment."

Jan 1, 1990

The mineralisation consists principally of layered pyrite, phalerite and galena, situated conformably within a sequence of tuffaceous, bituminous shales and dolomitic sediments that include slump breccias. The sediments show little evidence of post sedimentary reconstitution. A volcanic-exhalative-sedimentary origin is postulated for the mineralisation. Attention is drawn to the similarity between the McArthur deposit and the lead-zinc-silver orebodies at Mount Isa. The primitive nature of the sulphides is reflected by their adverse metallurgical behaviour, and it seems that the best prospect for milling and flotation benefication may lie in the production of separate zinc and bulk concentrates

Jan 1, 1968

By K. E. Waters, C. Marion, T. Grammatikopoulos, A. Jordens

"The Nechalacho deposit, located in the Northwest Territories, Canada, is a heavy rare earth element (REE) deposit. The main REE-bearing minerals in the deposit are zircon, allanite, bastnäsite, synchysite, columbite (Fe) and fergusonite. Previous work investigated the use of gravity and magnetic separation in the processing of this ore and showed that coarse particles following grinding were enriched in zircon, suggesting the potential for selective comminution. The current work investigates the possibility to selectively comminute gangue minerals and concentrate REE-bearing zircon into coarser size fractions. The ore was ground wet in a laboratory rod mill for various lengths of time (0, 10, 20, 30, and 40 min). The resultant products were analyzed using ICP-MS, to determine the distribution of zirconium and REEs in the different size fractions produced after grinding, and QEMSCAN, to identify mineral phases, mineral liberation and the distribution of minerals. Optimum grind sizes for the upgrading of zircon due to selective comminution were then proposed, and dense medium separation was investigated as a means to further concentrate zircon.It is important to note that this process is not representative of the currently selected process design or recovery for the Nechalacho deposit. Any application of this process to this deposit would require optimization in order to ensure appropriate grade and recovery targets are met.INTRODUCTIONThe rare earth elements (REEs) are the fifteen elements in the lanthanide series of the Periodic Table, as well as yttrium (scandium is excluded in this work). Traditionally, REEs are categorized into two groups: the cerium sub-group of “light” rare earth elements (LREEs); and the yttrium sub-group of “heavy” rare earth elements (HREEs) (Golev et al., 2014). The LREEs comprise the first six lanthanides (lanthanum through samarium) and the HREEs comprise the remaining nine lanthanide elements (europium through lutetium) coupled with yttrium (Golev et al., 2014). HREEs are much less abundant in the earth’s crust and on average are more expensive than LREEs (Seredin, 2010). Of the fifteen REEs, the production of neodymium, europium, terbium, dysprosium and yttrium has been determined to be most critical due to their scarcity, high demand and criticality in many high-technology and clean energy applications, such as in illuminated screens for electronic devices and permanent magnets in wind turbines (Seredin, 2010; U.S. Department of Energy, 2011). These five elements are classified as critical rare earth elements (CREEs) (U.S. Department of Energy, 2011)."

Jan 1, 2016

By Lucy van de Ruit, Megan Becker, Aubrey Mainza, Jenny Wiese

"UG2 chromitite ore is a complex, highly disseminated platinum ore from the Bushveld Complex in South Africa, with typical platinum group mineral (PGM) grain sizes below 15µm. The introduction of stirred mills to the platinum industry has enabled grinding to finer product sizes, which has improved liberation and recovery of the finely grained PGMs. However, reduction in particle size leads to an increase in chromite entrainment in the flotation concentrate, which has a negative impact on the subsequent smelting process. Factors such as particle size, froth structure, solids concentration and water recovery have all been identified as impacting entrainment, but whether particle shape also has a significant effect is unclear. The purpose of this study was to determine whether the recovery of chromite particles by entrainment during the flotation of UG2 ore is affected by particle morphology. A laboratory vertical stirred mill with inert ceramic media was used for grinding UG2 ore which was then floated in a batch flotation cell. Flotation feed and concentrate samples were analyzed using QEMSCAN to quantify the angularity and aspect ratio distributions of the particles. The stirred mill product was found to have relatively broad aspect ratio and angularity distributions, with the major mineral components (chromite and silicates) having very similar shape characteristics. Analysis of flotation feed and concentrate samples suggested that particle shape does not have a significant effect on chromite entrainment."

Jan 1, 2014

By J. E. Dutrizac

Mineralogical studies were carried out on nodulated copper cathodes from three primary refineries to characterize the nodular growths and to elucidate the causes of the nodulation. Nodulation is often initiated at the surface of the starter sheet or the stainless steel plating blank, although a layer of smooth copper sometimes is deposited before nodulation commences. In some instances, the "roots" of the nodules exhibit a pronounced dendritic texture that is associated with an abundance of cavities. Slimes particles are not usually associated with these growth features which lead to a globular surface deposit. The globules sometimes develop into larger nodules, and this type of nodulation is likely caused by improper addition agent concentrations. The nodules on most cathodes, however, exhibit "roots" at the contact with the substrate that are associated with microcavities and large clusters (>40 µm) of slimes particles. The slimes constituents are commonly Ag powder, PbSO4 and Cu2(Se,Te) but not AgCu(Se,Te) or Ag,(Se,Te). The size of the slimes clusters, rather than their composition, appears to be the important factor causing the copper to grow into nodules. Tiny individual slimes particles themselves do not appear to cause cathode nodulation.

Jan 1, 1999

By T. T. Chen

Gold in the Twin Creeks ore is primarily associated with arsenian pyrite. During pressure oxidation, the sulphides are solubilized, but part of the dissolved iron reprecipitates as jarosite and as an iron sulphate-arsenate-phosphate phase. The pressure oxidation products are subjected to cyanide leaching. The cyanide leach residues consist of quartz, gypsum, bassanite, anhydrite, small amounts of jarosite, an iron-sulphate-arsenate-phosphate phase, as well as trace amounts of orthoclase, rutile, pyrite, hematite and monazite; all these particles are dispersed in a fine grained matrix of illite-muscovite. The autoclave leach residues contain a small amount of carbonaceous matter. Many gold grains are detected on the surfaces of the carbon particles, and these gold particles are not leached during cyanidation. The gold particles are typically 0.1-0.2/Lm in size and commonly are embedded in the carbon surface or are coated with a K-AI-Si-S-O phase on the surface of the carbon. The gold grains are consistently associated with elevated CI contents (50-300 ppm Cl). The poor gold cyanide leach recoveries, which initially occurred in the Twin Creek developmental circuit under certain operating conditions, are attributed to the presence of chloride in the feed. This results in the formation of soluble gold chlorocomplexes in the autolcave and the subsequent sequestering of the gold on the surfaces of the carbon particles.

Jan 1, 2000

By Richter, E. Charikinya

"Mineral processing unit models require information on particulate properties such as particle size, solids flowrate and mineralogical composition to model their operations. Process models that describe the separation process can be classified based on the level of information required from the ore, i.e. the feed stream to the separating unit. The most comprehensive level of mineral processing models is the particle-based modelling approach. Particle based modelling describes a modelling approach where mineral composition, mineral liberation and textural information of particles making up the process streams is used in modelling. The advantage of this approach is that all model streams carry particle level information (size, liberation, shape). This information is obtained by applying automated mineralogy techniques such as Quantitative Evaluation of Minerals by Scanning Electron Microscopy (QEMSCAN) analysis which provide accurate and detailed information on process stream particle properties. Currently the use of liberation information in modelling and simulation is rare, due to the limited number of separation models that liberation data as input. The objective of this study is to develop a particle based model for a dry magnetic separator, where mineralogical information is used directly to simulate a dry magnetic separator operation. Magnetic separation tests were carried out on high, medium and low grade magnetite ores using a laboratory magnetic separator. Streams from the separator were sampled and sized for chemical and liberation analyses. A sized mass and elemental balance around the magnetic separator was carried out. The elemental assays of each stream were converted to mineral quantities and a sized mineral balance was done. QEMSCAN measured liberation data was reconciled to the mineral balance based on mineral quantities obtained from chemical assays. This was followed by the development of a particle based model that calculates the trajectory of a single particle based on its mineral composition and textural properties. The model was tested on experimental data and was able to predict the effect of variation in process feed stream mineralogical attributes (liberation, grade, particle size) on magnetic separation performance. Results of this study highlight the benefits of the particle based modelling approach. INTRODUCTION The extraction of mineral values from ore requires liberation of the value minerals from the gangue followed by their separation. Liberation is achieved by size reduction operations (Desmond, 2008; Fuerstenau and Abouzeid, 2002). Separation of gangue material from value mineral takes place in various mineral upgrading stages such as classification, magnetic separation and flotation. In these concentration stages value minerals are separated from gangue minerals based on the physical properties of the ore particles making up the feed such as size, liberation, volume of magnetic material and density. The success of separation is related to the liberation of the feed particles, the performance of the separation technology applied, as well as the inherent characteristics of the feed material (Leißner et al., 2013)."

Jan 1, 2018

By Muhammad I. Kabir

A new minitest of in situ uranium leaching processes at reservoir conditions is proposed. The test which consists of a single observation/ production well and two observation wells is designed to permit the evaluation of both restoration and leaching parameters. It is shown that by using a straight forward history matching procedure, sometimes called a type curve analysis, both the rate of leaching and the ultimate uranium recovery can be evaluated based on the results of the test. Type curves are presented for the case in which the reaction rate is kinetically controlled and there are no other minerals competing for oxidant. Other situations can be approached using the same techniques as those presented here.

Jan 1, 1981

By Yotamu Stephen Rainford Hara

"The aim of our work is to investigate a low energy and clean route for the recovery of copper and cobalt from complex sulphide mineral concentrates. The mineral concentrates were roasted in air, in the presence of CaO (MS + CaO + 202 =MO+ CaS04) at temperatures below 973K. The roasted products containing CuO, CoO and Fe203 were carbothermically reduced at 1073K within an hour to preferentially reduce copper and cobalt. The kinetics of reactions were studied using the thermogravimetric technique and by characterisation ofreaction products using the XRDSEM-EDX techniques. The effects of MS:CaO ratio, roasting temperatures and physical nature of the mineral concentrates were analysed. The method for capturing S02 by forming CaS04 was analysed for reuse in the process. The energy balance for the above process is compared with that of conventional continuous smelting/converting process.1.0 IntroductionCopper sulphide mineral concentrates from Zambia contains substantial amouot of cobalt. The cobalt metal content in the concentrates ranges between 0.7 and 2 % weight, which corresponds to 3 and 9 % weight copper, based on the spot price of copper ($7 386/tone) and cobalt ($31 000/tone). Although the traditional approach using a combination of roasting-leaching-electrowining steps can be applied to recover copper and cobalt from sulphide mineral concentrates [1-4], there are two major draw backs of the traditional process: (i) the S02 emitted during roasting is too lean for economical conversion for sulphuric acid manufacture, which causes serious environmental pollution. (ii) silver and gold which are normally present in the sulphide concentrates are lost out [5] because they are not leachable by H2S04 or HCl which are the common leachants. The above two problems have been overcome by adopting flash smelting in which a rich S02 gas above 20% is produced [1, 5] and successfully converted into sulphuric acid. The precious metals tend to partition to blister copper and recovered during refming. However, nearly all cobalt is lost into the slag phase uoder oxidising condition which prevails during flash smelting. It is important to note that the cobalt content in the slag can be up to 2.6 % weight [6]. The recovery of cobalt from the slag is a process which requires huge amouot of energy since the slag is smelted above 1873K [6]. With a view of minimising the amouot of energy and S02 emission during metal recovery, our investigation involves roasting the sulphide concentrates in the presence of lime and reducing the roasted samples with carbon."

Jan 1, 2013

By William R. Opie

Considerable effort by extractive metallurgical research organizations has been devoted recently to developing pollution-free processes for treating copper sulfide concentrates. A number of hydrometallurgical processes are in various stages of development and have been subjected to economic evaluation. Although the hydrometallurgical approaches eliminate SO2 emission problems, they create objectionable effluents and residues, make precious metals recovery complex, and are not very efficient for treating chalcopyrite. Furthermore, they are consumers of considerably more energy than pyrometallurgical processes which produce blister copper that can be electrorefined to commercial grade cathodes. This paper discusses a pyrometallurgical process under development by AMAX Base Metals Research & Development, Inc. (1) The original objectives set for the process development were: 1. Sulfur control of at least 95% with elimination of fugitive emissions. 2. Copper and precious metal recoveries as good as or better than conventional processes. 3. Low capital cost. 4. Competitive operating costs 5. Use of known proven technology where applicable.

Jan 1, 1976

By W. G. Jewitt

YELLOWKNIFE, the most northerly Canadian gold mining district, is once more in the throes of a boom. Touched off by spectacular and well-publicized diamond-drilling results on the property of Giant Yellowknife Gold Mines, Ltd., mining companies and the general public are competing for mining claims and for the shares of companies owning mining claims in the area, with little regard for values. Such a stock-market boom has various unfortunate consequences but undoubtedly one beneficial result is that considerable amounts of money are made available for serious development. The Yellowknife mining area lies on the north shore of Great Slave Lake, in the Northwest Territories, at a latitude of approximately 62°30' north. The topography is a low-relief phase of that usual in the Canadian Laurentian shield. Roughly, one third of the surface is lake-covered, one third muskeg or overburden, and one third is bare

Jan 1, 1944

By Carlo Sampaio, Moacir Veras, Aaron Young, Carlo Petter

"Three major challenges for the mining industry are the minimization of energy use, water consumption and environmental impact. Therefore, any technique that reduces milling waste, decreases water usage and shrinks impact during mine life must be considered a major innovation in mining.To these ends, one of the most impactful developments in mining within the last 10 years has been the expanded use of high technology sensors to create preconcentrations of mine ore (Jönsson, 2014). The most common sensors used are charge-coupled device (CCD) cameras, that allow through a red, green and blue (RGB) coloring system, the separation of minerals with different colors, tones and, in many cases, with differences in brightness.More recently, the development and use of dual energy X-ray transmission (DE-XRT) to enable the separation by atomic density of the constituent minerals within a given rock has become a reality. Within this work, a rapid bibliographical review of the CCD and DE-XRT methods and examples of their usage within mining and the industrial minerals sector are presented.Sensor-based sorting in miningAutomation within mining is one of the industry’s current goals. Sensors of various kinds have been used as steps toward automation in recent years, from improving the safety and productivity of haul trucks through the use of cameras and global positioning satellites (GPS), to the divination of slope failures. Just as with other mining areas, sorting has improved dramatically and made great steps toward automation in recent years (Wotruba et al., 2014).Sensor-based sorting (SBS) uses spectromatic sensors to identify intrinsic characteristics of particles and separates them by either mechanical or pneumatic means into different product streams (Wotruba et al., 2014). SBS can be used with great effectiveness to improve gravimetric beneficiation through the selective separation or preconcentration of run of mine ores (ROM)."

Jan 1, 2015

By George Wolff

To THE average person, the purport of the items and figures on the balance sheet of a mining company are hazy and the real financial condition of the company is cloaked in obscurity. It is also likely that the satisfaction of the stockholder in his investment, as well as the determination of the prospective investor, rests more on the reputation of the company, his confidence in the management, the stated earnings per share and the dividends paid, than on a comprehension of the information contained in the balance sheet. The balance sheet of any company at best can only closely approximate the true financial condition as of a given date. Any item of asset, except cash, can probably be altered if another's viewpoint is applied. It is difficult and expensive to drill and explore an orebody to determine the entire tonnage of ore therein. Those inherent difficulties render it practically impossible to prepare an absolutely correct balance sheet of a mining company. It is possible, however, to present the facts of a mining company more intelligently and comprehensively than is usually done. With this in mind, a balance sheet of an imaginary mining company is submitted, with supporting schedules. The same fundamental principles hold true whether we consider a large or a small company. Less complexity is involved in dealing with the affairs of a smaller company. Therefore, for this purpose, the assumed company operates but two mines and a smelting plant. It has been deemed advisable to introduce the features of the operation of a mine acquired prior to March 1, 1913 and one after that date. The presentation therefore is concerned in one mine with the appraisement as of March 1, 1913 and in the other with the appraisement by reason of discovery. A consequential factor pertains to dividends paid from depletion reserves and therefore free of surtax to the stockholders. While supporting schedules, when necessary, give details of certain items on the balance sheet, it seems desirable to give further explanations with respect to some of them. This seems to be important because some mining companies do not treat the items as indicated on the statements submitted.

Jan 1, 1928

By George Wolff

To THE average person, the purport of the items and figures on the balance sheet of a mining company are hazy and the real financial condition of the company is cloaked in obscurity. It is also likely that the satisfaction of the stockholder in his investment, as well as the determination of the prospective investor, rests more on the reputation of the company, his confidence in the management, the stated earnings per share and the dividends paid, than on a comprehension of the information contained in the balance sheet. The balance sheet of any company at best can only closely approximate the true financial condition as of a given date. Any item of asset, except cash, can probably be altered if another's viewpoint is applied. It is difficult and expensive to drill and explore an orebody to determine the entire tonnage of ore therein. Those inherent difficulties render it practically impossible to prepare an absolutely correct balance sheet of a mining company. It is possible, however, to present the facts of a mining company more intelligently and comprehensively than is usually done. With this, in mind, a balance sheet of an imaginary mining company is submitted, with supporting schedules. The same fundamental principles hold true whether we consider a large or a small company. Less complexity is involved in dealing with the affairs of a smaller company. Therefore, for this purpose, the assumed company operates but two mines and a smelting plant. It has been deemed advisable to introduce the features of the operation of a mine acquired prior to March 1, 1913 and one after that date. The presentation therefore is concerned in one mine with the appraisement as of March 1, 1913 and in the other with the appraisement by reason of discovery. A consequential factor pertains to dividends paid from depletion reserves and therefore free of surtax to the stockholders. While supporting schedules, when necessary, give details of certain items on the balance sheet, it seems desirable to give further explanations with respect to some of them. This seems to be important because some mining companies do not treat the items as indicated on the statements submitted.

Jan 1, 1928

By Prince Gelasio Caetani

PRESIDENT DWIGHT'S invitation to be a guest of the American Institute of Mining and Metal-lurgical Engineers was the first of the subsequently very numerous invitations to dinner I have received from my American friends. When I received his telegram I had not yet been even formally appointed Ambassador. I cannot tell you how deeply I appreciated it. It was a hearty welcome in returning to your country which has been for me a second home and it came from the American mining brotherhood which has been my second family.There are two distinct periods of learning in life. The first one are the years spent in school where we learn many things we after-wards forget; the second one are the years of prac-tical apprenticeship which engrave indelible signs in a man's character and shape his life. These latter years I spent in the United States and they have influenced the whole course of my life. I owe very much to my American friends who trained me. The earliest was Prof. Robert Peele, of Columbia University. At the Daly West mine, in Park City, Utah, he curbed my futuristic English spell-ing and had a hard time at it. Prof. James F. Kemp taught me that geology is a guess work just as unre-liable as the prediction of international events; he taught me also that a frank, honest and loyal character will lead a man equally straight through a mining report and through public life.

Jan 3, 1923