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By H. A. von Schonfeldt, H. Douglas Dahl

INTRODUCTION During the past decade, significant pro¬gress has been made in applying rock mechanics principles to mine design problems by a great number of researchers. Some of these new techniques have found their way into the engineering and planning offices of the operating mine. In spite of these advances, however, the application of rock mechanics in the day-to-day mine planning and design of our domestic coal mines is rela¬tively rare. There are a number of reasons responsi¬ble for this relatively slow progress, not the least of which is the question of how to measure the success or cost effectiveness of a sizable rock mechanics effort in an opera¬ting mine. Firstly, the properties of geologic materials generally vary over a wide range and it is, therefore, difficult to assess whether an improvement in the mining conditions is due to a design change or due to a change in the geologic conditions. A second reason for the slow acceptance of rock mechanics in engineering thinking is the fact that some of the concepts are quite difficult and that physical evidence of their validity to mine design is still rare. Thirdly, com¬munication between research, engineering and applications oriented people appears to function only intermittently. In our view, however, the most important impediment lies in the "state-of-the-art." Exactly how much can rock mechanics help the mine operator? The best that rock mechanics can do at present is determine whether one approach is better than another when weighed against some design objective (stress, strain, deformation). We cannot determine the abso¬lute best ground control design -- only what is better. If ground control is lost, the statement that "it's the best one we looked at" means very little to the harried operator. While the "state-of-the art" has advanced a great deal, it has certainly not been reduced to an engineering matter in that design hand¬books are available -- they are not. The success of a rock mechanics program, there¬fore, can be determined only over a long period of time of continuous effort.

Jan 1, 1977

By R. K. Mehta

Stirred ball mill feed used for ultra-fine grinding application requires fine size separation step in order to avoid over-grinding. This paper presents the selectivity curves obtained for oil shale and complex sulfide are using 460 mesh (30 micron) Derrick vibrating screen. Interestingly, the selectivity curves generated from the experimental data were monotonic increasing selectivity for oil shale but not monotonic increasing for sulfide ore. These non-monotonic increasing selectivity curves were similar to the mechanical air separator fishhook selectivity curves described by Luckie and Austin. A 2 stage classification in series model describing the fishhook selectivity curve has been used in proposing the classification mechanism for fine vibrating screens when heterogeneous multicomponent sulfide are undergoes size separation.

Jan 1, 1992

By J. K. Whyatt

In situ stress on the scale of a tunnel or mine may be distorted by geologic structures. The resulting variations of in situ stress have a direct bearing on the potential for mining-induced seismicity. New evidence from the Lucky Friday Mine collected by U.S. Bureau of Mines researchers, as well as a review of case studies, demonstrates that in situ stress variations affect the spatial distribution of mining-induced seismicity. Although overcore stress measurements have been useful in these studies, they are too expensive and, depending on conditions, may be too difficult, to use routinely in mapping stress variations. However, information from borehole and raisebore breakouts; deformation of mine openings; and patterns of seismicity, ground control problems, and rock burst damage can be used to build a stress database. This database can then be used in con-junction with maps of mine structure and geology and models of rock mass behavior to build a map of in situ stress variations. Such a map provides a means to anticipate patterns of mining-induced seismicity that are likely to be encountered and, hence, provide a means for planning appropriate measures to ameliorate rock-burst hazards.

Jan 1, 1995

By E. De Souza, H. Heidrich

In underground operations the evaluation of blasting fume dilution times and the application of recirculation techniques require accurate determination of the concentration of toxic fumes produced by the explosive used. This paper describes a methodology for obtaining concentrations of detonation products from commercial explosives tested under typical rock confinement and looks into the development of techniques for reducing toxic gases produced by explosives. This paper also analyses the application of techniques for the removal of toxic gas which would enable reduced re-entry times, a reduction in the quantity of fresh air and the use of air recirculation techniques, thereby providing substantial economic benefits to the industry. INTRODUCTION Toxic fumes from blasting operations are among the most common and serious hazards encountered underground. The implication of high concentrations of toxic gases emitted from blasting on the mine ventilation system are very significant and, in many cases, catastrophic results have occurred. Because blasting is a routine practice underground, the mining engineer is always confronted with the problem of controlling the fumes within acceptable levels. Typical control procedures employed underground include preventing or reducing the amount of fumes liberated from blasting through the proper selection of explosives and proper blasting techniques; removing the fumes through local exhaust systems or auxiliary ventilation (dilution ventilation); blasting off-shift, or at restricted times; localizing or isolating the effects of blasting where workings are isolated or sectionalized in the ventilation system; and absorbing some of the components of the fumes using air-water sprays. Dilution is one of the most effective control measures against blasting fumes and is universally applied. However, for precise determination of the dilution times for the fumes to reach safe concentrations, accurate determination of the concentration of toxic fumes produced by the explosives used is required. Research work has been carried out in determining the types and volumes of gases produced from blasting. In the case of ideal detonations, the nature and quantity of the fumes produced can be predicted by thermo-hydrodynamic calculations. However, commercial explosives exhibit non-ideal behaviour which is enhanced by the relatively small diameters of application in underground mines. The confinement offered by the surrounding rock further complicates the situation. It is well recognized that confinement affects performance and consequently fume generation. A detailed data base of fumes generated by commercial explosives at various conditions is introduced and the effect of blasting parameters such as, confinement, shock desensitization and incomplete detonations on toxic fume production is described for a variety of commercial explosives in use today. Thermodynamic predictions on fume production by the explosive compositions tested are also presented and compared with experimental results and their significance in assessing the quantity of fumes produced is discussed. A mathematical model capable of determining dilution ventilation requirements and dilution times to reduce the fume concentrations in the blasting zone to acceptable levels has been developed and it is being incorporated into a network system so that the effects of blasting can be simulated in typical mine ventilation systems. Solutions to the problem of controlling blast fumes within acceptable levels are described. These solutions include the use of control procedures which prevent and reduce the amount of fumes liberated from blasting. The use of low fume explosives, proper blasting techniques, dilution ventilation and filtration can be combined to effectively control fume production and save on costs. The application of these techniques to enable recirculation of underground air with reduced quantities of fresh air requirements is evaluated in a case study.

Jan 1, 1993

By W. R. Reed, W. J. Archer, A. B. Cecala, J. D. Potts

The U.S. National Institute for Occupational Safety and Health (NIOSH) uses light-scattering real-time dust monitors (nephelometers) in its research to develop dust controls to reduce respirable silica dust overexposures in miners. Recently, the model 1500-pDR, an active nephelometer (i.e., with cyclone and pump configuration), was introduced by Thermo Scientific. Testing was completed to ensure compatibility with the metal/nonmetal mine dust personal sampling unit (M/NMDPSU). Results of testing demonstrated that gravimetric concentrations measured from the 1500-pDR are comparable to the gravimetric concentrations measured using the M/NMDPSU, without need for correction, under commonly observed dust loading conditions.

Jan 1, 2012

By H. Maleki

Interwest Mining Company has been collecting geologic data within the last decade in preparation for underground mining of extensive coal reserves in its Bridger Coal property in southwestern Wyoming. During a preliminary data collection program in 2000, Interwest Mining completed geologic investigations, including surface mapping, drilling, aerial photography, rock testing, and limited groundwater investigations. Core from 12 exploration boreholes in the area of interest was tested to determine the mechanical properties of the coal seam and the immediate roof and floor for evaluation of the feasibility of underground mining. Geologic investigations identified the presence of one 7-to-17-ft-thick coal seam throughout the reserve under 1400 ft of cover. During a geotechnical feasibility study in 2002, the authors reviewed available data while completing comparative analyses identifying critical deficiencies in these data. The study projected moderate-to-difficult mining conditions, considering the weak nature of near-seam strata and depth of cover, and thus recommended limiting the longwall reserves to an overburden depth of less than 900 ft. These shallow remaining reserves were located at depths within regional mining experience to justify longwall mining methods. Based on a critical examination of available data, Bridger proceeded with more detailed data collection to improve understanding of the depositional and structural setting of the reserve, hydrogeologic conditions, overburden strength, and premining stress conditions. Additional data was collected during 2003 and 2004 field programs. Since 2003, Bridger has had the opportunity to observe ground behavior in a series of up to 1200-1600-ft- long rectangular openings created during highwall mining. These narrow unsupported openings remained stable in the short term in large areas but the overburden subsided locally in the long-term depending on geologic and panel layout designs. These localized subsidence events allowed an examination of in-situ coal strength based on back analyses of stress. The unextracted highwall areas near Ramp 17 provided an ideal location to access the underground reserves using a 6-entry set of mains. The existing north-south oriented longwall layout for the Bridger Coal was selected by Bridger to maximize resource recovery from the D41 reserves while considering operational and geotechnical constraints. At 45-degrees deviation from preexisting joints and mild horizontal stress field, this orientation was considered beneficial for overall stability while using both sets of joints for facilitating the caving process. The present layout utilizes pillars on 80- to 90- by 200-ft centers, 17-ft entry spans and 750-ft wide longwall panels (Figure 1). Gate pillars are on wide spacings and are intended to act as abutment-abutment pillars to limit strata deformation over the gateroads during longwall mining.

Jan 1, 2008

By S. B. Bhagwat

The United States has abundant coal resources that could last at least another century. and probably longer at present consumption rates. Geographically, the coal resources are distributed over the entire nation including Alaska, although there are no coal deposits in the highly populated areas on the two coasts. This allows free access to the coal, but makes transportation more expensive. Not all coals can be utilized equally because they differ vastly in quality. The sulfur content of coals, considered as the most detrimental acid rain-causing element, varies from as low as 0.3 percent in some areas of the western U.S. to 5 percent or more in parts of the Midwest. The chlorine content, which causes corrosion of plant hardware, also varies regionally. The 1990 amendments of the Clean Air Act of 1963 (CAA) require that emissions of sulfur be restricted and rolled back in two stages by the year 2000. There have been a number of reports expressing concern about the future of the industry in the states where high sulfur coal is produced. The remedies devised by the federal government and many coal-producing states in the past to "se-cure" the future of the regional coal industries have focused on the physical task of removing sulfur rather than the economic challenge of doing so at a cost that will enable high-sulfur coals to survive and compete. The past remedies, generally, were not specific enough to account for the characteristics of regional coal deposits and did not look at the coal market as an integrated national and international entity. The State of Illinois has, in recent years, taken a more comprehensive approach to the solution of the problem.

Jan 1, 1992

By M. R. Carter

The Rochester Mining District is located some twenty-five miles NE of Lovelock, Nevada. The District was discovered and named in the 1860's by prospectors from Rochester, New York. For a number of years, they worked Rochester Canyon, sinking shafts and inclines and making open cuts. After reaching a depth of approximately eighty feet, the miners tapped an underground channel and were driven from these workings by a strong flow of water leaving pumps in the shaft and barely escaping with their lives. With the Rochester workings no longer accessible, the miners went to the southeast and established the Relief Mining District. About 1881, gold was found in the gravel at the mouth of American Canyon, to the east of Rochester. These placers were worked until 1895, first by the Americans who reportedly took out $1 000 000, and later by the Chinese who mined the gravel with great skill. It was estimated that the Chinese took out as much as $10 000 000.

Jan 1, 1987

By W. H. Pomroy

Spontaneous combustion fires in deep metal mines, through relatively infrequent, are nonetheless cause for considerable concern because they pose a direct threat to the safety of miners and are quite disruptive to mine operations. They often occur in remote, inactive, or abandoned sectors of a mine where access for firefighting is difficult or impossible. Over half of all noncoal mine fires that last more than 24 hours are caused by spontaneous combustion. The most common means of fire control for spontaneous combustion fires is sealing and/or Flooding the affected zone. This process is never easy, but it is made especially difficult (and hazardous) if the fire grows in size and intensity to the point where underground fire- fighting crews must wear self-contained breathing apparatus owing to mine air contamination. The Bureau of Mines has developed and in-mine tested a mineworthy fire detection system capable of sensing the earliest traces of spontaneous combustion, thus enabling mine personnel to initiate fire control operations before hazardous atmospheres are created. This paper discusses system design within the context of the harsh mine environment, and describes laboratory and in-mine performance tests of prototype equipment.

Jan 1, 1985

By H Arvidson, Rondinelli Sousa, Nic Pollock, Cesar Carrasco, Boz Elloy

Global public mineral reporting codes have driven strong governance of public disclosures of minerals information. Recently, we have seen an increase in disclosure of information related to Environmental, Social and Governance (ESG) issues, and governance of ESG information in mining companies has arguably reached a similar level of governance and diligence afforded mineral reporting. We define Resource Governance as the conjunction of environmental, social and minerals governance. A modern systems approach to Resource Governance, which combines mineral and ESG information, would provide not only reporting and governance capability, but also has the potential to sense/respond, predict, and manage ESG risks.

Feb 1, 2024

By P. W. Conrad, C. Todd, N. A. Degerstrom, N. West, R. Kramer

"Surface subsidence caused by underground room-and-pillar mining operations and by solution mining operations have been studied separately but never in combination. In 2008, FMC Minerals began using solution mining at its Westvaco Mine as a secondary extraction method in an area that had been previously mined using the room-and-pillar mining method. Mining regulations require that subsidence associated with underground mining activities be monitored and measured annually. Using Salt_Subsid, a subsidence software package from the Solution Mining Research Institute, and ArcGIS, Esri's mapping platform, researchers at Montana Tech were able to develop a relationship between measured surface mine subsidence and solution mining that can be used at the Westvaco Mine to estimate the production of trona from solution mining operations. Project backgroundFMC Minerals has increased the production of trona from its Westvaco Mine near Green River, WY, using solution mining as a secondary extraction method in an area previously mined using the room-and-pillar method. The area of interest was mined until 2001 with the use of a borer miner at a depth of approximately 488 m (1,600 ft). Currently, FMC determines the amount of trona produced using its solution mining operations by measuring the dissolved solids pumped from the mine. This approach, however, does not account for the location from which the trona was removed.The location from which the trona is removed and the size of the cavern created by the solution mining operations are important to FMC’s mine planning. FMC believed that with proper investigation of the subsidence at the Westvaco test site, a correlation might be found between surface subsidence measurements and the amount and location of trona production from the solution mining activities. The primary goal of this project, conducted by Montana Tech, was to find relationships between the measured subsidence and the solution mining activities. The project attempted to develop an equation that could be used to predict solution trona production based on measured subsidence. The project attempted to model the relationship between the measured surface subsidence and solution mining production using Salt_Subsid, an existing subsidence software package from the Solution Mining Research Institute (SMRI, Clarks Summit, PA) to estimate the location, size and shape of the solution mining cavern. This study would determine the program’s usefulness for locating and developing the cavern created by secondary solution mining activities. The subsidence and production data sets used in this study were collected over a seven-year period from 2008 through 2014."

Jan 4, 2018

By Basil W. Mercer

Increased emphasis on industrial pollution control has intensified investigation of waste treatment technology for methods of reducing the amount of pollutants discharged by industry. The mining and mineral processing industry can point to a record of considerable accomplishment in the field of wastewater treatment and reclamation because these operations are so frequently an integral part of the entire operation of an ore dressing facility. This is amply demonstrated by metal producers in the arid regions of the Southwest where water shortages require maximum use of available water. For example, the copper industry in Arizona during 1960 employed an estimated 184 billion gallons of water of which 87% was reused water. (1) Only 0.0003% was discharged to streams and the remainder was consumed by evaporation (8%) and seepage (5%). The most severe pollution problem facing the mining and ore processing industry today is that resulting from acid mine drainage. This problem is largely associated with the mining of coal although it occurs to a lesser degree with the mining of other materials. The degradation of streams by acid mine drainage in the vicinity' of the Appalachian coal fields has been widely publicized and a major effort is underway to determine the best means of correcting this situation. Other forms of pollution from mining operations are less well-known, but it is anticipated that improved or advanced waste treatment techniques will be required for segments of the industry to comply with new pollution control regulations. The current emphasis on redefining hazardous levels for heavy metals and various chemicals with regard to the total environment will in all likelihood lead to tighter discharge controls in some cases. It is the purpose of this paper to review some of the waste

Jan 1, 1971

By Shinichi Konda, Gary Nishimura

"Thousands of years ago large glaciers carved much of the landscape in Puget Sound, depositing abrasive and granular soils including cobbles and boulders along with layers of clay and sand. Tunneling in this geology – common throughout much of the northern and Midwestern U.S. – is challenging and can be unpredictable. The use of pressurized face tunneling, most commonly with EPBs and slurry type machines, has made excavation in this geology more efficient, but difficulties still remain. Through analysis of recent projects in Seattle, Washington, USA, the authors draw conclusions as to the best TBM designs and operational parameters for this variable, abrasive and often difficult ground. Performance data is analyzed with an eye towards advancements that could further improve TBM tunneling in glacially deposited soils. INTRODUCTION Over the past several ice ages, extensive glaciers reaching across much of North America transported large amounts of soil and rock as they moved across the land. The substantial weight of the ice sheets mixed together a wide range of soil types along with a variety of rocks and boulders of all sizes. Many rock formations were reduced to pebbles or particles containing highly abrasive characteristics. Any boulders able to survive were generally comprised of harder materials which were scattered throughout the soil. This highly variable mixture of abrasive soils and high strength boulders can be found in many areas across the Puget Sound and other regions of the country. Wherever they are encountered, they often create a difficult and unpredictable mining environment for both equipment design and operation. Modern TBMs are optimized early in the design process for specific types of geology, and unexpected conditions can require extensive modifications. In addition, several operational parameters need to be adjusted to balance ground characteristics, and advance rates can be significantly affected in mixed and rapidly changing soil conditions. Both EPB and slurry machines can be used successfully in these conditions, provided their respective operating criteria are met. Ideally, an EPB is operated with a relatively thick muck consistency, which accommodates moderate changes in soil permeability and maintains a reliable pressure differential through the screw conveyor. However, this also causes higher wear on rotating components and requires more energy at the cutterhead. Alternatively, slurry machines typically operate best with a more fluid muck consistency that can be easily pumped through the extensive piping system. This tends to reduce the wear on the cutterhead and the power requirements of the cutterhead drive system, but also makes the machine more sensitive to changing soil conditions. Generally, the slurry piping system is also more capable of controlling high face pressures, although the screw conveyor of an EPB can also be designed to accommodate most high-pressure conditions."

Jan 1, 2016

By Erik Sundström, Magnus Nygren

The study explores the influence and consequences of safety initiatives on the development of safety cultures in the Swedish mining industry. It involves interviews with experts from four mining organizations, highlighting themes such as organizational structures, safety leadership, feedback, and communication.

Nov 1, 2023

By Michael Gauna, William J. Gray, Joseph C. Zelanko

Mechanized mining in the underground coal industry has continued to evolve since the introduction of the remote control mining machine. Remote control continuous mining machines without an onboard operator’s compartment are now the norm in the industry. Extended cuts in excess of 30 ft (9.1 m) are commonplace. Unfortunately, machine operator positioning has become an often unrecognized safety concern, particularly when remote control continuous mining machines excavate a turn (turn a crosscut). From January 2001 through July 2004, remote control continuous mining machine operators or helpers have been involved in ten roof fall fatalities and eight machinery crushing fatalities. The machinery crushing incidents occurred when machines were being repositioned or moved to another place. Of the ten roof fall fatalities, three occurred while a crosscut was being turned and a fourth fatality occurred while mining was being conducted adjacent to the crosscut. The operating time associated with turning crosscuts is a relatively small part of the mining cycle. In recent years, however, a disproportionate number of fatal incidents appear to have been associated with this activity. Procedures for reducing the incidence of operator fatalities while turning crosscuts are discussed. These techniques include: minimizing the number of turn cuts, limiting turn cut depth, establishing no work zones and using visual warning devices to designate them, installing more roof/rib support in the vicinity of the turn cut, using notch cuts prior to initiating a full turn cut, and positioning the remote control miner operator in nontraditional locations.

Jan 1, 2005

By S. Tuylu, D. Adiguzel, U. G. Akkaya, A. Bascetin

"One of the main problems for storing of the tailings is acidity occurrence due to several factors such as existence of sulfuric minerals and also the pollution in seepage waters by mobilization of metal ions, which holds great risks in terms of environmental regulations. Because of these specified reasons, tailing materials to be used in a SPD formula should have comply with some specifications. Among these properties; oxygen content, temperature, matrix suction and pH are the most important parameters. In the study, the relationships between the parameters mentioned are investigated to reveal optimum paste design layout. The lowest amount of seepage water obtained from the paste layers in the pilot cabinet was found as 2150 ml from 3rd layer. As for the maximum seepage water and the average of the all 11 layers were found as 4909 ml from 6th layer and 3273 ml respectively. The reactions occurring according to the oxidation, as seen at seepage water of second and third layers, decreased the pH of system to the under of 7 value. Additionally, when the seepage water of first layer’s EC value is 2.93 mS/cm, the EC value of second layer is increased at 3.54 mS/cm. The other parameters are evaluated with the obtained results of the tests to determine the optimum storing conditions for SPD.INTRODUCTION Conventional waste disposal methods, although widely used, pose great environmental risks. One of the most important issues is acid mine drainage (AMD). Tailings of metallic mines contain heavy metals, aggressive chemicals and hazardous materials. In the presence of oxygen and water, an oxidation reaction can occur, causing a decrease in pH of the environment, and heavy metals that are present in the environment can dissolve easily. Subsequently, heavy metals can pollute underground water basins, creating a great amount of danger for the ecology and potable water resources. Another important risk associated with conventional waste disposal methods is accidents related to the waste dam. Higher volumes of water and tailings (usually 15% solids and 85% water by weight) are sent to waste dams, making it very difficult to control the stability of the dam under conditions such as static and dynamic loads (seismic activities, vibrations caused by blasting, etc.), flooding, and seepage. In case of an accident or failure, the spread of great amounts of mud containing hazardous chemicals and heavy metals can harm the environment of the dam site significantly (Bascetin et al., 2014). In the paste technology, depending on the type of ore, tailings used in the paste mixture can contain sulphide minerals (such as pyrite and pyrrhotite). These minerals are known to be reactive with water and oxygen to produce acidity (sulphuric acid)."

Jan 1, 2015

By Hugh Douglas

This paper discusses the financial health of the U.S. mining industry and its ability to meet the future raw material requirements of this country in the context of resource independence. The title of this paper begs several questions, and three will be raised here. The answers to them will form the basis for discussion. The three questions are: What does one mean by resource independence. How is the U.S. mining industry defined. How is financial health measured.

Jan 1, 1977

By Chinmay Shingote, Robert Visintainer, Renjie Ke, Jaikrishnan R. Kadambi, John Furlan

Hydrocyclone separators are some of the most widely used instruments in a variety of industrial applications. Their major functions are to sort, classify and separate solid particles and liquid droplets within a multiphase flow system. Research studies employing both experimental and numerical methods recognize that the performance of a cyclone is related to its geometric dimensions as well as the inner flow pattern. Although many successes have been achieved over the past years, the majority of investigations only focused on the simplified design of cyclone geometry and on single-phase flow. Therefore, this study set out to investigate the flow field in a new-design hydrocyclone and used particle image velocimetry (PIV) to explore the complex swirling flow behavior inside the cyclone within an air core. The flow field inside the cyclone was also studied by computational fluid dynamics (CFD) simulation using a commercial CFD package. Different turbulent models were tested in this study with a moderate-size mesh, and the interface of liquid phase and air phase was predicted by the volume of fluid (VOF) model.

By D. PATIL, B. K. Parekh

Water is the mainstay for the beneficiation of fine-size coal and minerals, but it is also the least desirable constituent of the final product. The basic concept of the novel process described in this paper is based on the differential surface heat absorption capacity of the individual particles. When a differentially heated solid mixture is placed on a moving belt that has been coated with low-temperature melting resin, the hotter component of the mixture will stick to the belt while the relatively cooler component will stay free on the belt and fall off at the end of the belt run. Experiments were conducted with pyrite, coal and quartz particles of 6 × 18 mesh size. The goal of the test program was to find the optimum conditions at which there exists a required temperature difference between minerals and coal particles by controlling the operating and system variables. Preliminary test results show that there is a potential for separating mineral matter from coal using the thermo-adhesive separation technique.

By Chee Theng

"Keep calm and carry on mining. That has long been the conventional wisdom in the mining industry, a largely cyclical one that has weathered roller-coaster booms and busts. But in the years from 2002 to 2016, an unprecedented steep rise in commodities prices that lasted a decade and then took a sharp turn downward had made it hard for gold and silver miners to stay the course.“The last 15 years highlighted some of the structural and inherent challenges that our industry has, from product price uncertainty to long lead times to the capital intensity of our business,” said Mitchell Krebs, president and chief executive officer of Coeur Mining, who was the luncheon speaker at the American Exploration & Mining Association’s 122nd Annual Meeting held Dec. 5-9, 2016, in Reno, NV.Looking back, Krebs said, “We were given this enormous gift of a commodities super cycle, and the industry kind of blew the opportunity.” While gold prices rose 319 percent and silver prices rose more than 200 percent over the 2002 to 2016 period, the XAU index of 30 gold and silver mining companies’ stock prices went up by only 20 percent.Entering 2016, precious-metals prices have made a comeback, with gold rallying strongly from a six-year low at the start of the year. This time, the industry is ready. Companies are leaner and meaner, with lower costs, reduced debt and an increased focus on higher grades and quality ounces. Although opportunities were missed in the past, the industry has got its act together and is now well positioned to take advantage of a price upswing and even to show profits when prices fall, as they did in August 2016, pushed down by a strong dollar."

Feb 1, 2017