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On June 4, Kennecott Utah Copper (KUC)marked the centennial of the founding of the original company. Bill Champion is president and chief executive officer of KUC. He said, “What has happened during the past 100 years far surpassed even the most optimistic visions of men like Daniel C. Jackling and Robert Gemmell when they promoted the concept of mass production techniques for a low-grade deposit of copper ore. At that time, it was a totally new way of doing things and the mining leaders of that day scoffed at the idea. They said it would never work,” Champion said. The company will celebrate this once-in-a-lifetime occasion with a few special projects, mainly for the benefit of our employees, said Louie Cononelos, director of government and public affairs for KUC. The company has designed and minted a commemorative copper coin that reflects early steam shovel and locomotive operations on one side, and today’s modern electric shovels and huge haulage trucks on the other side. “The history of the company stems from the ores of the Bingham Canyon Mine. That coin has been encased as part of a10-panel brochure that captures the company’s 100 year history,” he said. KUC also developed special centennial banners and comparable framed posters that were displayed throughout its operations and at selected community locations that have enjoyed a long-time partnership and special relationship with the company. Some of the plants also designed their own centennial hardhat decals.

Jan 1, 2003

By Paul Voigt, Mike Hourn, Glenn Stieper

Sable Zinc Kabwe Limited ("Sable") is a base metal processing plant, two kilometres south of Kabwe Town in Central Province, Zambia. The region has a rich history in mining and minerals production, being a major lead and zinc producer from the 1900s up to the mid-1990s. In 2006, a copper plant was built at the Sable processing site to treat third-party copper and cobalt oxide ores and concentrates. The oxide leaching plant included whole ore leaching, solvent extraction and production of 8,000 tpa LME Grade A copper cathode. The plant was placed on care and maintenance in 2014, and Glencore Plc ("Glencore") took the opportunity to convert the plant using a minimal budget, to an Albion Process™ plant to treat local refractory copper concentrates unsuitable or uneconomic for smelting. The Albion Process™ plant comprises an M100 IsaMill™ operating in acidic conditions such that raffinate from the downstream process is recycled back to slurry the concentrate delivered to site thus maximising copper tenor in solution and reducing water consumption. The finely ground concentrate feeds an oxidative leaching plant using the existing stainless steel oxide leach reactors converted to Albion Process™ duty by fitting HyperSparge™ supersonic oxygen injectors and gas dispersing agitators. The leached slurry is then directed to the existing solid/liquid separation equipment, and the PLS is then sent to the existing SX/EW plant. The plant also allows for cobalt recovery from the raffinate. The plant was designed based on testwork on regional copper concentrates. The plant was designed to toll treat a range of concentrates, and so the design was flexible With the flexibility of the Albion Process™ being one of its distinct advantages, the plant was ideally suited for tolling regional concentrates. The plant was commissioned and ramped up in six weeks using low-grade Zambian copper concentrate, and produced exclusively LME Grade A copper with over 99% leach recovery in the Albion circuit. INTRODUCTION The Sable Zinc Kabwe Limited ("Sable") process plant is located 2 km south of Kabwe town and 140km north of Lusaka in Central Province, Zambia. In 1902, rich deposits of zinc and lead were discovered with mines and processing plants operating in and around the town until mid-1994. In 2000, the Kabwe Mine tailings dams were sold to Sable, a newly established company, as part of a purchase deal for other plots and facilities. Up until 2004, Sable produced zinc cathodes in an SX/EW plant treating wash plant tailing material. In 2004, Sable was acquired by the South African mining company Metorex Limited ("Metorex"), and in 2006 a copper/cobalt SX/EW plant was built to produce copper cathode from malachite ore supplied from the Democratic Republic of Congo. In 2011, Jinchuan Group International Resources Co. Ltd acquired Metorex and Sable was in turn sold to a subsidiary of Glencore Plc ("Glencore").

Jan 1, 2019

By D. Denton, M. Stickney, R. Langston

The National Institute for Occupational Safety and Health and the Stillwater Mining Company worked cooperatively with the Montana Bureau of Mines and Geology to develop a system that would collect seismic data at the Stillwater and East Boulder mines. The purpose was to obtain baseline information on the magnitude and location of mining-induced seismicity to determine if the mines needed multi-channel in-mine monitoring systems. Seismic data recorded at field sites near the mines are being telemetered via FM radio through a series of repeaters to a central recording site where the seismic signals are digitized using an Earthworm data acquisition system. The Earthworm system performs several data analysis tasks in near-real time and places raw seismic data, preliminary hypocenter locations, and magnitudes on a Website within 5 min of a seismic event. Such rapid access to seismic data allows personnel at the Stillwater Mine, Spokane Research Laboratory, and Earthquake Studies Office to evaluate seismic events quickly and respond in ways that may improve the safety of mine personnel underground. Installation of the system also broadened earthquake coverage to south-central Montana, a region previously not covered by the seismograph network.

By A. López-Valdivieso, M. A. Corona-Arroyo, M. Llamas-Bueno

Magnetite (Fe3O4) ore is concentrated by low-magnetic-field drums to recover a magnetite concentrate that is low in silica (SiO2). The presence of SiO2 in the magnetite concentrate for steel production increases the steel processing costs, so a major challenge in magnetic concentration is to lower the SiO2 grade in the Fe concentrate. This work presents studies that were carried out on the removal of SiO2 from the magnetite concentration at the plant scale. Studies were performed with a three 36 × 96″ drum unit processing 46 ton/h of rougher magnetite concentrate. These studies showed that silica appears in the magnetite concentrate by three mechanisms, namely SiO2 entrainment in Fe3O4 chains, heterocoagulation between Fe3O4 and SiO2 particles, and mineral locking of SiO2 to Fe3O4. The SiO2 entrainment mechanism had the highest contribution (75%) to the SiO2 recovered in the Fe concentrate. Electrokinetic studies on Fe3O4 and SiO2 showed that heterocoagulation occurs because of the low negative zeta potential of the minerals at the pH of the plant slurry. This study also showed that a high percentage of ultrafine size SiO2 particles trapped in Fe3O4 agglomerates was not removed by the dilution water for the slurry fed to the drum. To lower the SiO2 recovery in the drum magnetic concentration process, work should be directed towards the removal of trapped SiO2 in Fe3O4 agglomerates.

By C. M. Harrer

The location, features, qualities, and extent of iron occurrences and the associated resources--limestone and dolomite, bentonite, coal-lignite, petroleum and natural gas, power, and water--are evaluated. The results of pioneer beneficiation tests on South Dakota taconite are discussed. In addition, pertinent features of taconite development, cost factors, the Western and Central United States trade area and markets are reported. The State's production of iron ores until 1963 has been small and for purposes other than the manufacture of iron. This investigation disclosed the probability of large resources of taconite in Pennington and Lawrence Counties. The average iron content is 29 percent, and a 65-percent or better iron concentrate might be produced. Ample resources are available for mining and processing taconite. An investment of at least $26 million would be required for a plant capable of turning out 1 million tons of agglomerated iron concentrate per year. The feasibility of such an enterprise is indicated, but intensive investigation and research must be completed to justify such an investment,

Jan 1, 1966

By Paul Downing

A typical day for a blasting company includes what seems to be an infinite list of tasks dealing with numbers. Whether determining the exact amount of explosives material in inventory, the number of holes in the shot, the exact distance from the blast site to the nearest exposure, or the capacity of bulk hoppers, the accuracy of numbers is key to ensuring the safety of the public, property and personnel.

Jan 1, 2008

By H. B. Arntzen, P. O. Grøntvedt, T. Lindstad, R. J. Ishak, M. Syvertsen

Better utilisation of electric power and coke is vital in reducing production costs and CO2-emissions in production of ferromanganese. All FeMn smelting operations consume 10 to 30 % more carbon than the carbon needed to reduce MnO and FeO to metal and the carbon contained in the alloy. Potassium which re-circulates and builds up in the furnace has been shown to be the main culprit causing both excessive carbon consumption, by catalysing the Boudouard reaction, and increased electric power consumption. The reaction between CO2 and ordinary metallurgical coke or coke impregnated with potassium has been studied at temperatures from 800 to 1100°C in a thermobalance apparatus. Ordinary coke did not react to any great extent at temperatures up to 1000°C, whereas the addition of potassium (2-10 %) resulted in a huge increase in reaction rates. The ultimate goal is to fit the results into a reaction rate model containing the equilibrium constant for the solid-gas heterogeneous reaction between CO2 and a free active site on the carbon reactant producing CO and adsorbed oxygen (an occupied site). The model includes the partial pressures of CO and CO2, a reaction rate constant that is a function of both the total number of reaction sites of carbon, and the potassium content. The potassium dependency is taken care of by introducing activity coefficients for the carbon sites. As the first step towards such a model, a regression line for the Boudouard reaction rate has been established.

Jan 1, 2004

By J. W. Latilla, J. J. van Wijk

A running facebreak ahead of the powered support units occurred on the number 4 seam at Matla Coal’s number 3 shaft (Matla 3) in April and May 2002.Very difficult mining conditions were experienced for a distance of some 150 m in the tailgate and to a lesser extent on the face itself. The paper analyses the main causes for the high stress conditions leading to the facebreak, namely, the existence of a >20 m dolerite sill close to surface and the effect of stopping longwalling on the overlying 5 seam. Difficulties experienced during the facebreak are discussed, including, pillar and roof collapses in the tailgate, high stress areas ahead of the face causing roof and sidewall stability problems, flushing of broken rock into the face area at the tailgate, secondary mid-face breaks, and the availability of critical support units. Successful rock engineering interventions and learning points were that, a goaf angle of 14.6° was found to be more realistic than the previously used 20 to 25° in predicting dolerite sill behaviour in this area, pre-split blasting of the sill significantly reduced stress on the face and tailgate allowing re-support work to proceed, varying pillar support types were analysed and rated, the need to always have a ground control “First Aid” kit available was recognised and a strategy for subsequent panels beneath the sill was developed. Numerous support units were used and the performance of the more suitable types is briefly discussed. A running facebreak ahead of the powered support units occurred on the number 4 seam at Matla Coal’s number 3 shaft (Matla 3) in April and May 2002.Very difficult mining conditions were experienced for a distance of some 150 m in the tailgate and to a lesser extent on the face itself. The paper analyses the main causes for the high stress conditions leading to the facebreak, namely, the existence of a >20 m dolerite sill close to surface and the effect of stopping longwalling on the overlying 5 seam. Difficulties experienced during the facebreak are discussed, including, pillar and roof collapses in the tailgate, high stress areas ahead of the face causing roof and sidewall stability problems, flushing of broken rock into the face area at the tailgate, secondary mid-face breaks, and the availability of critical support units. Successful rock engineering interventions and learning points were that, a goaf angle of 14.6° was found to be more realistic than the previously used 20 to 25° in predicting dolerite sill behaviour in this area, pre-split blasting of the sill significantly reduced stress on the face and tailgate allowing re-support work to proceed, varying pillar support types were analysed and rated, the need to always have a ground control “First Aid” kit available was recognised and a strategy for subsequent panels beneath the sill was developed. Numerous support units were used and the performance of the more suitable types is briefly discussed. Une cassure de taille en avant des unités de soutènement s’est produise sur la veine numéro 4 dans le puits numéro 3 (Matla 3) de la mine Matla Coal en avril et mai 2002. Les conditions d’extraction étaient extrêmement difficiles sur une distance d’environ 150 m dans la voie de tête et, en moindre mesure, sur le front de taille lui-même. L’étude présente analyse les raison majeures pour les conditions de grandes contraintes qui ont conduit à la cassure de taille, à savoir l’existence d’un mur de dolérite de >20m proche de la surface et l’effet d’arrêter la longue taille sur la veine 5 superposée. Les difficultés rencontrées pendant la cassure de taille sont rapportées, y compris les effondrements de piliers et toit dans la voie de tête, les aires de grandes contraintes en avant du front de taille causant des problèmes de stabilité pour le toit et les parois latérales, l’injection de roches cassées dans la taille en voie de tête, les cassures secondaires à mi-taille, et la disponibilité d’unités de soutènement critiques. Interventions minières réussies et leçons apprises furent : un angle de remblai de 14.6° était plus réaliste que celui de 20 à 25° utilisé auparavant pour prédire la conduite du mur de dolérite dans cet endroit ; tir à deux temps du mur a réduit considérablement les contraintes sur la taille et la voie de tête, ce qui a permis un travail de support complémentaire ; des types variés de support de piliers furent analysés et évalués ; la nécessité d’avoir toujours une trousse de première urgence disponible fut reconnue ; et finalement une stratégie pour les panneaux en dessous du mur fut

Jan 1, 2003

Editor?s note: Each year, the June issue of Mining Engineering features an industrial minerals review. Several people put in a fair amount of time in developing the material for this issue, all the while doing their own jobs. Thank you to the industrial minerals annual review editor, to the Industrial Minerals and Aggregates Division technical committee chair and vice-chairs, and to the authors of the individual commodity profiles. Jim Norman, member SME, of Tetra Tech, is the industrial minerals annual review editor. Candace Trimble, member SME, of Oil-Dri Corporation of America, is chair of the Industrial Minerals and Aggregates Division?s Technical Committee.

Jan 1, 2012

By Frank G. Wickert

One key to maintaining successful mining operations in today?s global economy is in having the ability to access real-time machine operating data ([1] G. Brown, B. Ebacher, W. Koellner,2000)([2] Brochure of Siemens E&A, Order Number 141000-1). With recent and ongoing advances in mining equipment systems it is imperative that mine managers have full knowledge of the status of their equipment at any given point in time. This knowledge is critical to ensuring that the productivity of each and every machine is maximized. Knowledge of machine status is only the first step, however, in controlling and optimizing a piece of mining equipment. Computer based diagnostic systems, traditionally offered on mining equipment, have provided a link for collecting data and trouble-shooting problems as they occur. One problem existed, though, that those systems stopped short of providing full drive systems access. A maintenance technician could see the data but to make critical adjustments or make repairs the technician needed to be on the machine. In extreme cases the machine would be down until OEM assistance could reach the mine site. The key then to reducing down-time and maximizing machine productivity was creating a system that could not only monitor drive systems but also provide remote access to those systems. Essentially a link needed to be created through which a technician could gain drive access remotely then make adjustments or repairs without being on the piece of equipment. This paper will introduce AccessDirectTM, a new remote diagnostic system for Bucyrus mining shovels and draglines. AccessDirectTM combines all three important elements of remote diagnostics: ? Vital Signs and Production Monitoring (SiRAS-M) ? Automatic analysis (SiRAS-A) of faults, and tracking of trends for preventive and reliability centered maintenance , and ? Fast, direct Intervention (SiRAS ? I) for troubleshooting support, repairs, and system optimization.

May 1, 2002

By A. Eccles

Phase designs are the foundation upon which all open pit mine sequence optimizations and budgets should be built. Unfortunately, at times, mine engineers skip the step of developing realistic pit phase designs - designs that include access ramps and mineable widths. Without mineable phase designs, their optimized schedules are based on theoretical pit shells or ?quick-and-dirty? plans with no ramps. The output from such optimizations is almost always overly optimistic. Without mineable designs, the production estimates are misleading, because they overestimate ore, and underestimate waste stripping requirements. Worse yet, when plans are not based on realistic phase designs, they can point to exactly the wrong decision in feasibility studies (i.e. ?go? when it should be ?no-go?). This paper discusses the importance and features of good pit phase design, and demonstrates the pitfalls of relying on optimized production sequences that are not based on properly designed pit phases.

Feb 27, 2013

By W. R. Reed, J. A. Organiscak

Haul trucks have the potential to generate large amounts of respirable dust. This respirable dust has been shown to be a health hazard to personnel, especially if it has a high silica content. Lack of dust sampling data from haul trucks prompted the completion of a study to quantify respirable dust concentrations. These field studies were conducted measuring instantaneous respirable dust at stationary locations from passing haul trucks at a stone quarry and at a coal mine site. Fugitive dust levels from haul trucks were analyzed to characterize dust dispersion. This analysis indicates safe following distances for haul trucks and other heavy equipment to avoid overexposure of respirable dust from the lead haul truck.

By W. D. Striffler

Land disturbed by surface mining in Colorado and other western states has increased substantially over the past several years and is likely to increase even more in the future. This study was initiated to provide basic information on hydrologic and erosional characteristics of regraded coal spoils in Colorado as an aid for planning future reclamation activities. Eleven of twenty-one surface mines licensed in Colorado were sampled during the summer of 1980 and 1981. Mines not sampled included mines which had not progressed to the point that reclamation had begun, and mines where operators denied permission to sample. All coal regions were sampled with the exception of the San Juan Coal Field. Physical and hydrologic characteristics of regraded coal spoils in Colorado were determined using standard field and laboratory procedures. Field sampling included characterization of sites (slope, vegetation density, proportion of surface rock, bare soil, etc.) and infiltration measurements using a l-meter square drop former raining on a 1/2 square meter rectangular plot frame. Core samples collected in the field were analyzed for saturated hydraulic conductivity, bulk density, organic matter, moisture retention and texture. The erosion potential of each site was determined using the Universal Soil Loss Equation (USLE). Results of the sampling indicate that infiltration rates vary widely both within and between sites. However, definite trends with respect to coal fields are apparent. For example, the Green River (Yampa) coal region had a wide range of sampled infiltration rates (1.2 to 5.1 cm/hr). However, most of the sites clustered towards the low end of the range. The North Park (Marr Strip) also was rated at the low end of the infiltration range (2.0 to 3.0 cm/hr). Average infiltration rates for the Canon City and Uinta Coal Regions were at the high end of the range (4.9 to 5.5 cm/hr). Multiple correlation analysis of infiltration rates vs. site characteristics showed that infiltration rates were most closely correlated with the depth of wetting, the amount of mulch cover, and site slope. The depth of wetting was highly correlated with the depth of the topsoil and the bulk density of the spoil. In general, the topsoil at all sites appeared to be highly permeable to water intake but once saturated, subsequent infiltration depended upon characteristics of the underlying spoil. Vegetation cover affected infiltration on individual mine sites but was not as pronounced as topsoil characteristics or mulch. Erodibility of topsoil and spoils, as determined by Wischmeier's "K" factor, ranged from 1.34 to 0.56 tonnes/ha. (topsoil) and 1.25 to 0.66 tonnes/ha. (spoils). Definite trends in erodibility are evident. The Green River (Yampa) Coal Region displayed consistently higher erodibilities (1.34 to 0.75 tonnes/ha.) than other coal fields (0.72 to 0.56 tonnes/ha). Lowest erodibilities were observed in the Uinta, North Park, and Raton Mesa Coal Regions (0.56 to 0.62 tonnes/ha). Erodibilities of underlying spoils showed similar trends as the topsoils. Erosion potential (the product of soil erodibility and rainfall erosivity) was detennined using calculated ?K? factors and rainfall erosivities (R) taken from Clyde (1976). Results show that the Delagua coal field, Raton Mesa Coal Region had the greatest erosion potential due to the high rainfall energies in the region, while the North Park and Uinta Coal Regions had the lowest potential erosion.

Jan 1, 1981

By E. Don Dilling, W. F. Holbrook, Lloyd R. Michels, James W. Pennington, Dwight L. Harris, Wm. F. Hergert, Cyrus L. Blogett, H. A. Doerner, Ernest A. Reige

"IntroductionA process for production of magnesium by carbothermal reduction was developed at Padentheirm, Austria, by the Austro Americanische Magnesit Corporation& an independent investigation of this and other processes was started in 1937 by the Bureau of Mines at Pullman, Wash., with the cooperation of Washington State College. 10/ A preliminary study of the Radentheirm pro¬cess, as revealed by the meager information then available, demonstrated the following two major disadvantages,The use of hydrogen for shock cooling requires an enormous volume of gas - about 1,000 cubic feet for condensing each pound of metal as a pyrophoric dust which must be completely separated from this gas. Then if the gas is to be recycled for repeated use, the CO produced by the reduction reaction must be separated from the hydrogen. These separations are costly from the standpoint of equipment and operation. 11/The condensate is an impure, pyrophoric metal powder that must be purified and converted to coherent form. This is accomplished by distillation or sublimation of the metal. Distillation on a large scale involves difficulties inherent in the high boiling point (1,107° C.) and the chemical activity of the metal. To avoid these difficulties, the metal is sublimed at 600° C. and of very low pressure. This is quite easily carried out as a batch operation but is a costly procedure. A continuous sublimation process has not been accompli shed."

May 1, 1945

By Brent C. Jellicoe, Phil Robertshaw, J. Murphy, Peter Williamson

Kimberlites and associated diamonds have been the focus of extensive exploration in central Saskatchewan since 1988. During 1989, Uranerz Exploration and Mining Limited identified 71 shallow magnetic anomalies in the Fort a la Corne area from detailed aeromagnetic surveys. By the end of 1991, 18 of these targets had been proven, by drilling, to be kimberlite bodies encased within Cretaceous sedimentary strata. From 1991 to 1997, the number of drill-confirmed kimberlite bodies increased to 69. Our current view, drawing on an integration of geophysical and geological information, is that the kimberlites are composed of individual bodies and multi-vent clusters of coalesced bodies, all apparently constructed of stacked, temporally distinct layers of pyroclastic crater-facies kimberlite. Diamond recoveries and geochemical results from associated heavy minerals at Fort a la Corne remain highly variable, although continued minibulk sampling is expected to improve the estimation of diamond grades for the most prospective bodies.

Jan 1, 2001

By F. Matanzo

[Nine wire rope terminations were pull tested and fatigue tested to destruction to measure the termination efficiency and relative fatigue life. The terminations were selected on the basis off mine site visits and the specimen were assembled in a manner similar to industrial slings. To measure a termination's sensitivity to poor workmanship, both standard and modified assembly specimen were tested. Lang and Regular construction of the 6x19 and 6x37 class wire ropes were used in diameters of 13 mm (1/2 in.), 19 mm (3/4 in.), 25 mm (1 in.), 38 mm (1 1/2 in.), and 51 mm (2 in.). In static pull tests rope class, construction, and diameter interacted with the termination to influence the efficiency of the termination. In axial fatigue tests using only the 6x19 class rope, the effect of rope construction was negligible since failure was primarily dependent on the termination type. The Swaged Socket, a termination requiring a high capacity hydraulic press, gave the best overall performance in terms of efficiency and fatigue life. The short body length of the Zinc Poured Socket (RR-S-550) was attributed with the short fatigue life of this termination. The use of thermosetting resins as a replacement for zinc was demonstrated successfully for some socket designs. The fatigue life of the termination, expressed as a percentage of the fatigue life of the wire rope, was shown to be a guide for the retirement of the wire in these applications where the wiry' rope is primarily in axial loading.]

Jan 1, 1978

By Thomas V. Falkie

In bygone days, the mineral engineer spent most of his/her time on the technical aspects of designing, building, and managing mineral operations. In the last few decades, mostly since the 1960s, increasing amounts of engineering man power and time are spent dealing with federal, state, and local government agencies, laws, and regulations. It is not possible to plan, design, build, or operate mines, mills, smelters, or even office buildings without detailed consideration of government regulations and permitting requirements dealing with environment, worker health and safety, etc. The four chapters of this section provide an overview of the social, legal, political, environmental, and health and safety aspects of mineral enterprise. The section sets the stage for the working engineer/geologist in industry, government, consulting, or academe and points the direction for more detailed study in each of these areas.

Jan 1, 2008

This report summarizes the work performed and results achieved on the above contract from October 18, 1971 through July 14, 1972 under Phase II, Task 1: Detailed Design of Prototype and Task 3: Supporting Experimental Investigation. Operation and Service Manuals resulting from Task 3 are submitted under separate cover as are detailed design drawings and specifications, prepared under Task 1. Both items accompany this report. This report also includes (A) an estimate of the cost of construction, (B) a description covering the use of the equipment, and (C) a proposed test plan to demonstrate performance of the equipment in both the laboratory and a mine.

Jan 1, 1972

By Donald W. Breck

Zeolites were first recognized as a new group of minerals by Cronstedt with the discovery of stilbite in 1756. The word zeolite was coined from the two Greek words meaning "to boil" and "a stone" because of the loss of water when heated in the mineralogist's blow pipe. (1) In 1845 it was discovered that certain soils have the power of retaining ammonium Salts. (2) These were the first ion exchange experiments. Later it was discovered that it was the hydrated silicates in the soil that produced this phenomenon and several years later a paper was published dealing with the action of dilute salt solutions on silicates which showed that this base exchange principal, which we now call cation exchange, is reversible. The quantitative cation exchange behavior of zeolite minerals, such as chabazite, was studied. As a result any aluminosilicate which exhibited the property of ion exchange was referred to as a "zeolite;" even today the term has been applied to clay minerals as well as synthetic organic ion exchange resins.

Jan 1, 1973

By Charles F. Jackson

Gold mining is a subject that not only appeals to the popular imagination but has vital importance to the world's economic structure. However, a discussion of the use of gold as a medium of exchange, and a basis for credit between nations and for monetary systems is not within the scope of this paper. The importance of gold in carrying on the commerce of the world, the present supply and rate of production, the probable trend of future production, the probable future requirements, and related subjects have recently received much attention from bankers and economists, and many articles on these subjects have been published. During slack periods of base-metal production due to falling prices, accompanied by scaling down of base-metal mining operations and often by the closing down of at least some mines, there usually result revival of interest in gold mining, search for previously undiscovered deposits, and reopening of some old gold mines.

Jan 1, 1932