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In its April 1991 issue, MINING ENGINEERING published a salary survey form asking for information relating to engineering and management jobs in the minerals industry. 1038 of these forms were filled out and returned, most of them being received in the magazine's offices at SME headquarters before the end of June 1991. An SME volunteer took on the task of tabulating and analyzing data from the forms, but the press of other business interfered with this work, and publication has been delayed until this issue of MINING ENGINEERING. Appreciation is extended to SME members who took the time to fill out and return the salary survey forms, and our apologies go to MINING ENGINEERING'S readers for the delay in publication. Of the total number of forms received, more than 97% were from SME members. The geographic distribution of the respondents closely mirrored that of SME membership as a whole, about 50% being from the Society's Western Region, 19% from the Central Region, and 23% from the Eastern Region. About 8% were from outside the US. Average salaries for each of the four geographic areas ranged between $55,000 and $60,000, with the highest average in Eastern Region (Fig. 1). Respondents were asked to answer a number of questions formulated to determine if there are significant differences in salaries based on the type of organization for which they work. As indicated by Table 1, salary averages at mining companies do not vary markedly with the size of the company: • Large companies, defined as those having more than $1 billion in annual sales, accounted for just over 16% of the returns. Their average salary was $61,840 per year.

Jan 1, 1992

By S. Kenzap, V. Kazakidis

Risk assessment is an essential component of mine feasibility studies. However, it is often challenging to identify the appropriate analysis and derive the required input data. The uniqueness of a mining project and the associated technical issues require customization of the risk assessment approach to meet both requirements and characteristics. The uncertainty driving the operating risk in mine feasibility studies and its assessment through Monte Carlo simulation as a component of a cash flow analysis are discussed in this paper. The paper introduces the use of the analytic hierarchy process for derivation of qualitative input and conducts quantification of the three main sources of operating performance delays, equipment, ground and schedule problems, in a cash flow simulation. A methodology for the assessment of operating risk in mine feasibility studies is presented.

Jan 1, 2011

By J. A. Ober

"In 2015, the estimated value of nonfuel mineral production in the United States decreased by 3 percent from that in 2014 (Table 1), mainly as a result of decreased metal and metallic mineral prices, especially iron ore, copper and precious metals. Lower metal prices were attributed to decreased consumption, especially in China and increased global inventories. Several U.S. metal mines were idled in 2015, including the only U.S. rare earths mine at Mountain Pass, CA. Downstream processors also were affected, with smelters and refiners either shutting down or idling production lines. Increases, however, took place in the value and quantity of production of industrial minerals, especially those used in the construction sector, including cement, construction sand and gravel and crushed stone. Trends in mineral-related sectors of the domestic economy, except for iron and steel manufacturing, aluminum manufacturing, coal mining and metals mining, all experienced growth (Table 2).Discussion of mine production is frequently segmented according to the type of materials produced within the broad categories of metals and industrial minerals (also known as nonmetallic minerals). Industrial minerals can be further subdivided as construction aggregates and other industrial minerals. Metals tend to have higher unit values but very low production quantities compared with those of industrial minerals, which have higher production quantities but are lower-valued materials, such as crushed stone or construction sand and gravel. Therefore, for discussion and analysis of the performance of the nonfuel minerals industry, the value of production is used rather than the tonnage produced. Tonnages of construction aggregates are orders of magnitude larger than those for most other mineral commodities thus making direct comparisons based on weight meaningless (Fig. 1).Mineral industry performanceThe estimated value of domestic nonfuel mineral production, including metals ($26.6 billion) and industrial minerals ($51.7 billion), in 2015 declined to a total of $78.3 billion, from $80.8 billion in 2014 (Table 1). However, as shown in Fig. 2, minerals remained fundamental to the United States economy, contributing to the real gross domestic product at several levels, including mining, processing and manufacturing finished products. Net exports of mineral raw materials and old scrap were $14.4 billion. Domestic raw materials, along with domestically recycled materials, were used to produce mineral materials worth $630 billion. These mineral materials, including aluminum, brick, copper, fertilizers and steel, and net imports of processed materials (worth about $32 billion) were, in turn, consumed by downstream industries with a value added to the gross domestic product estimated to be $2,490 billion."

May 1, 2016

By K. Huttu, A. van Wageningen

"The Kittila underground mine is extracting one of the largest known gold deposits in Europe and has an estimated mine life through 2034. The Kittila mine is located in the Lapland region of northern Finland, approximately 900 kilometres north of Helsinki and 150 kilometres north of the Arctic Circle. The ore at the Kittila mine is refractory, making gold extraction relatively difficult because the gold is generally locked inside the two main sulphide minerals – arsenopyrite and arsenic-rich pyrite. The orebody consists of a complex pinch-and-swell structure including up to 100 different gold mineralization lenses. Fluctuating gold prices and other economic considerations increase the need to maintain and update the mining plans more frequently. Over 3,000 stopes need to be designed and optimized once a year for the LOM-plan and more frequent updates are needed for mid- and short term plans as well as production studies. As a large part of ore body is very sensitive to cost and gold price changes, stope optimization is crucial to find the best possible production scenario for every moment. Kittilä has gone through several methods for stope design and optimization. Most recently the Deswik Stope Optimizer (Deswik.SO) has been successfully used. Dewsik.SO has helped Kittilä to design and optimize stopes in a timely and cost efficient manner. Together with the Deswik suite of planning tools, reliable and auditable plans are created. This paper describes the methods used for stope design and optimization at Kittilä. THE KITTILÄ MINE The Kittila underground mine in northern Finland is extracting one of the largest known gold deposits in Europe. Kittila achieved commercial production on May 1, 2009, becoming Agnico Eagle’s first mine to open outside of Canada. The Kittilä orebodies were initially mined from two open pits – Suuri and Roura – and underground operations were added in October 2010. The pits were mined out in November 2012, so mining is now entirely underground in the Suuri and Roura deposits. Additional, small open pits will mine any remaining near-surface reserves in the future. The Kittila mine is located in the Lapland region of northern Finland, approximately 900 kilometres north of Helsinki and 150 kilometres north of the Arctic Circle. With a mine life estimated through 2034, Kittila is Agnico’s longest-life mine. The mine’s proven and probable reserves contain 4.7 million ounces (32 million tonnes at 4.6 g/t gold). Ore has been mined from underground since 2010. The original 3,000-tonne-per-day operation underwent an expansion project to increase the throughput capacity of the mill by 1,000 tonnes/day, starting by the end of 2014. The region around the Kittila mine is underlain by mafic volcanic and sedimentary rocks of the Kittila Greenstone Belt oriented nearly vertical. This greenstone belt is similar to those hosting Agnico Eagle's Canadian deposits in Quebec’s Abitibi region and Nunavut. At the contact point between iron-rich and magnesium-rich rocks lies a 100- to 200-metre-thick structural zone known as the “Suurikuusikko Trend”. This trend hosts the Kittila deposit, where multiple mineralized zones have been traced over a strike length of more than 25 kilometres."

Jan 1, 2015

By E. F. Schnitzer, S. R. Mamoyac, P. J. Wampler

During 1996 and 1997, Oregon experienced flooding on a scale not seen in many years. Some gravel pits located near rivers experienced erosion and, in several cases, breaches between the gravel pit and the river. Initial evaluation of several sites that experienced breaches indicates that impacts to the river system are complex and vary significantly from site to site. The impacts to the adjacent river system may be viewed as both positive and negative. Several floodplain-mining sites in Oregon located in areas of historic river flow have reverted to active riverbed. In many cases, state and federal fisheries biologists and university researchers see the resulting increase in channel complexity and habitat as favorable. The Oregon Department of Geology and Mineral Industries – Mined Land Reclamation Program (DOGAMI-MLR) is performing additional studies of the impacts to the off-channel areas that resulted from the 1996 floods. More data is needed to make sound floodplain decisions regarding mining.

Jan 1, 1999

By A. D. Hammond

Vanadium is a transition metal, ductile and silver-gray. It is harder than most metals and steels and it has a good resistance to corrosion. It is stable against alkalis and sulfuric and hydrochloric acids. Vanadium is oxidized in air at about 660° C (1,220° F), although an oxide layer forms even at room temperature. The chemistry of vanadium is noteworthy for the accessibility of the four adjacent oxidation states, 2-5. In aqueous solution, the colors are lilac V2+, green V3+, blue VO2+ and, at high pH, yellow VO42-. Considered to be as abundant as zinc, metallic vanadium is not found in nature, but it is known to exist in about 65 different minerals. Economically significant examples include patronite (VS4), vanadinite (Pb5(VO4)3Cl), associated to the uranium mineral carnotite (K2(UO2)2(VO4)2?3H2O) and in a vanadium mica called roscoelite K(V3+,Al,Mg)[(Si,Al)4O10] (OH)2. Other important vanadium ore oxides are montroseite (V,Fe)O(OH) and corvusite (Na,Ca,K)V8O2.4H2O. Much of the world?s vanadium mine production comes from magnetite-hosted deposits and, to a lesser extent, sedimentary-hosted sandstone.

Dec 1, 2013

By D. Craig Camp

conditions. The soils included 65 m of rock not exceeding an unconfined compressive strength (UCS) of 200 kgf/cm2, 130 meters of soft clay, silt, and sand not exceeding 30standard penetration test SPT blows per 300 mm, and 220 m of rock ranging between an UCS of 400-600 kgf/cm2. The river crossing, utilizing 1778 mm OD x 19 mm wall x600 mm steel casing pipe without intermediate jacking stations, was part of a seven kilometer liquefied natural gas (LNG) transmission line in South Korea. This 440-m, 1,442-ft, river crossing was microtunneled through three different ground conditions and completed in just over three months. The crossing was achieved with an average of 25 m of ground cover and 15 m of water cover. The Kwang Yang River Crossing was part of a 7 km liquefied natural gas pipeline project for POSCO, a Korean steel producer. The microtunneling machine was custom built for this project. The microtunneling machine selected for this project was tooled with 7 button bits and 2 roller bits. None of the cutter bits were replaced during the drive. Inside the machine, before the spoils laden slurry was pump back to the surface, it would pass through an independent cone crusher. The crusher is placed in the slurry flow to make sure that none of the spoils are so large as to stop the return flow of the slurry. An additional requirement was for the inclusion of a compressed air lock. The air lock was required in the event that the cutter tools required replacement. The cutters were back loaded so that the workers would have access to change the cutters in the event of cutter failure or wear out. No intermediate jacking stations were installed for the drive. The soils included 65 meters of rock not exceeding an unconfined compressive strength (UCS) of 200 kgf/cm2 with production averaging between 7 and 20 mm/minute. The second zone contained 130 meters of soft clay, silt, and sand not exceeding 30 standard penetration test (SPT) blows per 300 mm with production averaging between 80 and 180 mm/minute. The third zone contained 220 m of rock ranging between an UCS of 400-600 kgf/cm2 with production averaging between 7 and20 mm/minute. The steel casing pipe was 1778 mm OD x 19 mm wall x 6000 mm long. The project profile, see Figure 1, shows the soil conditions. The hand written numbers locate just above the pipeline are the production dates. The circled numbers are the 10 pipe joint increments. The project required 74 pieces of pipe to span the440 m drive. Figure 2 and Figure 3 are the jacking information. Figure 3 is a continuation of the information from Figure 2. The top section of the graph is the jacking force. The jacking

Jan 1, 2001

By E. F. Schnitzer, P. J. Wampler

During 1996 and 1997, Oregon experienced flooding on a scale not seen in many years. Some gravel pits located near rivers experienced erosion and, in several cases, breaches between the gravel pit and the river. Initial evaluation of several sites that experienced breaches indicates that impacts to the river system are complex and vary significantly from site to site. The impacts to the adjacent river system may be viewed as both positive and negative. Several floodplain-mining sites in Oregon located in areas of historic river flow have reverted to active riverbed. In many cases, state and federal fisheries biologists and university researchers see the resulting increase in channel complexity and habitat as favorable. The Oregon Department of Geology and Mineral Industries – Mined Land Reclamation Program (DOGAMI-MLR) is performing additional studies of the impacts to the off-channel areas that resulted from the 1996 floods. More data is needed to make sound floodplain decisions regarding mining.

Jan 1, 1999

By Michele Ashby

The mining industry is facing new risks from peak commodities, the energy and economic crisis and stock market pressures. The Green Mining Industry Initiative is a risk management strategy for the future of the mining industry. Defining the Risks The bad news is peak commodities, energy and economic crisis and stock markets collapsing are the issues that are already hitting everyone?s bottom line and draining the treasuries of every mining company around the world. Higher energy costs are affecting the bottom line more than ever before, which is creating more risk for companies. Mining companies have major land positions around the world and they have major energy needs. Uncontrollable increases in energy costs, increased regulations for diesel fuel emissions and energy intermittencies are costing mining companies more time, money, and man-power, which are cutting into profits and hitting the balance sheet. The good news is, there are practical energy solutions which are off the grid, tried and true methods which can be implemented in a cost-effective manner and will increase profitability and save shareholder values as well as energy security for these companies and their projects. To date, most of the mining resource industry has not yet considered or used other forms of power like clean, sustainable, or alternative energy for their own energy needs. The reasons have primarily been pushback from the mining industry due to beliefs of older technologies in alternative energy, a lack of understanding of the cost advantages long term, and perceptions of environmental relativity.

Jan 1, 2008

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. Thank you to the industrial minerals annual review editor, to the technical committees chair and vice-chair, and to the authors of the individual commodity profiles. Jim Norman, member SME, of GeoTrans, Inc., is the industrial minerals annual review editor. SA Ravishankar, member SME, of Cytec Industries, is chair of the industrial minerals technical committees. Technical committee vice chairs include: ? Abani Samal, member SME, of Pincock Allen & Holt, agricultural minerals. ? Aaron McMahon member SME, of Pincock, Allen & Holt, ceramics and refractories. ? Bradley S. Van Gosen, member SME, of the U.S. Geological Survey, chemical raw materials. ? Mark Zdunczyk, member SME, of Continental Placer, Inc., construction materials. ? Jerry Gauntt, member SME, of JEG Minerals Consultants, fillers and pigments. ? Michael Cheshire, member SME, of Indiana University, sorbents, filters and process aids. Their help makes possible this June industrial minerals issue. On behalf of ME readers, the editors thank them.

Jan 1, 2008

By M. A. Trevits, G. L. Finfinger

Various methods have been developed through US Bureau of Mines research to remove gas in advance of, during, and subsequent to mining. These include drilling horizontal or cross-measure boreholes from a mine opening, and vertical boreholes stimulated for drainage in advance of mining or for gob gas drainage. Techniques and equipment now exist that allow drilling a borehole at any angle to the vertical, and even along an arc. Stimulation treatments have also been developed that provide for increased gas production capability. This paper describes the long-term production history of five select gas drainage installations. The Bureau of Mines conducted or participated in four studies. The remaining study was conducted by the Equitable Gas Co. Principles of storage, release, and migration of coal bed gases The amount of gas contained within any given area of a coalbed depends on the coal's inherent storage capacity and the physical conditions of the coalbed. The gas storage capacity of coal is primarily a function of rank. As such, it cannot be affected by the presence of drainage holes (Kim, 1977). Certain physical conditions of the coalbed can, however, be changed that will affect the release and migration of gas. By pumping water out of the coalbed through the vertical boreholes, two important changes occur - pressure is reduced and water saturation is lowered. Reducing reservoir pressure releases gas as the coalbed adjusts and equilibrates gas to the change. Increasingly large amounts of gas are released for each incremental decrease in pressure. Lowering the water saturation level raises the permeability of the coalbed to gas and allows the gas to more readily migrate to the wellbore (Kisse and Edwards, 1975). For horizontal boreholes completed near mine openings, the coalbed has already undergone a pressure or water saturation reduction phase. This condition thus allows such boreholes to be highly productive with minimal water production. Case studies of coalbed gas production Pittsburgh Coalbed - Marianna mine 58 A methane drainage study was begun in July 1978 at Bethlehem Mines Corp.'s Marianna mine 58, Marianna, PA (Fig. 1). The work was conducted in a section of the mine that was advanced 1.5 km

Jan 8, 1986

One of the biggest challenges for the mining industry is, quite literally, how to the keep the equipment rolling. There is a limited amount of companies that manufacture the 4.2-m- (14-ft-) tall, 5,670-kg (12,500-lb-) tires needed for the haul trucks that are approaching the 362 t (400 st) pay-load class, such as Terex?s MT6300-AC and Caterpillar?s 797F. And, while these might be the most impressive tires, they are not the only ones that are in short supply. The shortage of tires has affected just about every kind of machine, and the demand for those tires has been extremely high for more than five years with no end to the shortage in site. American Tire Corp. (www.americantire.us) is one of the companies working to supply tires to the mining industry. It announced that the demand for its 1.6-m (63-in.) tires that have a zero failure history globally is great and that the company signed contracts worth more than $500 million at MinExpo. A relatively new player in the field of large tires for mining equipment is Titan Tire Corp., (www.titan-intl.com), a subsidiary of Titan International Inc. It shipped its first 1.6 m (63 in.) off-the-

Jan 1, 2008

By Richard Hanke

Tunnel construction on the Brightwater Conveyance System?s East and Central contracts required ground modifications of the existing site soils, comprised of sandy alluvium to very dense glacial till, to assist with both hand-mined and TBM tunneling operations at vertical access shafts. The ground modification program was completed with a modified double fluid jet grouting system to construct continuous overlapping soilcrete columns to depths up to 94-ft below existing grade. This paper presents the sequence and methodology for the ground modification work and capabilities of jet grouting for structural support and groundwater control in the challenging soil profile present at the Brightwater Conveyance System Project.

Jan 1, 2008

By Allison

During the 1980’s, laboratories opened throughout the United States to serve the analysis needs of a rapidly growing asbestos abatement industry. The samples analyzed were either collected during the abatement of known asbestos-containing materials or were suspect asbestos-containing construction materials. Many asbestos analysts received minimal training and used analytical protocols that were industry specific. False positives (reporting a sample as containing asbestos when none is present) went unnoticed or had minor repercussions. The mindset of the industry was to err on the conservative side – it would be better to identify a non-asbestos fiber as asbestos than visa versa. With growing public awareness of the health hazards of asbestos, other materials began to be tested for asbestos content. Rock and ores began to be tested for naturally occurring asbestos by these laboratories using the same protocols or an in-house protocol. Analysts were given no additional training and accreditation, in most cases, it was not required. With no consistency in sample collection, testing protocol or expertise in analysis, significant discrepancies in final results can be expected. If we further complicate this scenario with misidentification of naturally occurring look-a-likes for asbestos, expensive false positives are likely. To avoid the repercussions of misidentification of naturally occurring chrysotile asbestos from look-a-like fibers in rock and ores, correct sampling and analysis protocols with more stringent scientific diagnostic criteria are needed.

Jan 1, 2005

By K. Huttu, A. van Wageningen

"The Kittilä underground mine in northern Finland is extracting one of the largest known gold deposits in Europe. Kittilä achieved commercial production on May 1, 2009, becoming Agnico Eagle’s first mine to open outside of Canada. The Kittilä orebodies were initially mined from two openpits – Suuri and Roura – and underground operations were added in October 2010. The pits were mined out in November 2012, so mining is now entirely underground in the Suuri and Roura deposits. Additional, small openpits will mine any remaining near-surface reserves in the future.The Kittilä Mine is located in the Lapland region of northern Finland, approximately 900 km (560 miles) north of Helsinki and 150 km (93 miles) north of the Arctic Circle. With a mine life estimated through 2034, Kittilä is Agnico’s longest-life mine.The mine’s proven and probable reserves contain 32 Mt (4.7 million oz) at 4.6 g/t (0.13 oz/ st) gold. Ore has been mined from underground since 2010. The original 3 kt/d (3,300 stpd) operation underwent an expansion project to increase the throughput capacity of the mill by 1 kt/d (1,100 stpd), starting by the end of 2014.The region around the Kittilä Mine is underlain by mafic volcanic and sedimentary rocks of the Kittilä Greenstone Belt oriented nearly vertical. This greenstone belt is similar to those hosting Agnico Eagle’s Canadian deposits in Quebec’s Abitibi region and Nunavut. At the contact point between ironrich and magnesium-rich rocks lies a 100- to 200- m (330- to 660-ft) thick structural zone known as the Suurikuusikko Trend. This trend hosts the Kittilä deposit, where multiple mineralized zones have been traced over a strike length of more than 25 km (15 miles).Most of Agnico Eagle’s work has focused on a 4.5-km (2-mile) segment of the Suurikuusikko Trend that hosts the five main zones of the known gold reserves and resources. From south to north they are: Ketola, Etela, Suuri, Roura and Rimpi.The ore at the Kittilä Mine is refractory, making gold extraction relatively difficult because the gold is generally locked inside the two main sulfide minerals – arsenopyrite and arsenic-rich pyrite. Only about 4 percent is very fine-grained “free gold” (not locked in sulfide grains) and easier to extract. Most of this free gold is found in the outer, oxidized or eroded sections of the ore."

Jan 1, 2015

By Dianne C. Marozas

The U.S. Bureau of Mines is conducting research to evaluate the potential for developing an in situ leach mining process that will selectively extract manganese from oxide ores, leaving gangue relatively undisturbed. To accomplish this, a geochemical approach, based on deposit-specific information such as mineralogy and geology, is used to constrain the operating parameters of the system. Among the studies being conducted are (1) leaching experiments to define reaction mechanisms and kinetics, (2) detailed petrologic characterization at the microscopic scale to assess Mn distribution and leaching efficiencies, (3) deposit characterization and evaluation, and (4) development of potential Mn recovery schemes. Data from these studies are being used to develop engineering design information for an in situ mining process. Specific details of the Bureau's research project are discussed, including results obtained to date.

Jan 1, 1991

By VIVEK KASHYAP, PATRICK TAYLOR

The presence of iron in sphalerite induces the formation of zinc ferrite (ZF) during roasting. Zinc refinery residues (ZRR) and electric arc furnace dust (EAFD) contain a significant amount of zinc ferrite and are difficult to treat. According to the literature, up to 71% ZF has been found to be present in ZRR. The dissolution of zinc ferrite is inefficient even in aqua regia. The Waelz process is an existing process to recover zinc from electric arc furnace dust by reduction using carbon monoxide followed by the volatilization of zinc. In this study, zinc was selectively extracted from zinc ferrite by partial reduction of zinc ferrite at relatively low temperature followed by leaching in dilute sulfuric acid (20 g/L). Pure zinc ferrite samples were partially reduced to zinc oxide and magnetite by using H2 gas as a reductant. The presence of magnetite and zinc oxide was confirmed by X-ray diffraction (XRD) technique. A maximum of 95%zinc extraction was achieved after leaching with sulfuric acid on the reacted samples. The paper also discusses the effect of time, temperature, and concentration of H2 in the reducing gas on the extraction of zinc and iron from ZF.

Sep 16, 2020

By Gary Brendel

India produces about 70 Mt/a (77million stpy) of coal ash (fly ash and bottom ash) from burning about 200 Mt/a (220 million stpy) of coal for electric power generation. The average ash content is 35%. In contrast, the United States produces about 70 Mt/a (77 million stpy) of coal ash from burning 800 Mt/a (880million stpy) of coal for power generation. Its average ash content is less than 10%. In 1998, GAI Consultants Inc.(GAI) embarked on a federally funded, multiyear project to assist the government of India in solving its growing coal-ash management problem.

Jan 1, 1999

By Jonathan Baggett, Nino Ripepi, Amin Abbasi, Richard Bishop, Juan Monsalve, John Hole

This work focuses on the operational and safety issues associated with karst voids in large opening underground mines. Issues include water inrush, structural instability, and engineering uncertainty in these environments. Coupled with the fracturing prevalent in folded sedimentary rocks, karst voids are complex and challenging ground-control risks. Traditional methods of predicting karst void locations, such as probe drilling, are impeded by the inconsistent spatial distribution and variable sizes of the features as reported by Li et al. (J Rock Mechan Geotech Eng:232–242, 2010) and Hassan et al. (Procedia Chem 19:737–742, 2016). Ground-penetrating radar (GPR) is a geophysical technique that transmits radio waves into a medium and subsequently detects reflected waves via a receiver. The travel time and energy of received signals are then processed and interpreted. The difference in conductivity and dielectric permittivity between limestone and open karst cavities causes strong reflections. GPR is frequently used as a geophysical surveying technique in several industries; however, there is a lack of published research on underground mining GPR applications as reported by Zhao et al. (2015a; Geophys J Int:62–71, 2015b) and Eskelinen and Pellinen (Constr Build Mater:888–898, 2018). The purpose of this work is to demonstrate the use of GPR in an underground stone mine and to discuss the importance of karst void detection ahead of mining.

Amid some of the worst economic conditions that the mining industry has been faced with in more than a decade, the mood among the large crowd at the 114th Annual Northwest Mining Association?s annual meeting was surprisingly upbeat. More than 2,200 attendees showed up at John Asuaga?s Golden Nugget Casino in Reno, NV for the conference held Dec. 1-5. And more than 200 companies exhibited in 240 spaces, including SME and the Minerals Information Institute. The number of attendees and exhibitors were the most for the conference in more than 10 years. The conference was held in Reno/Sparks for just the second time in its illustrious history but began under the cloud of global financial turmoil. Prior to, and during the conference, the industry news headlines were grim, to say the least. An alarming number of mine plans and expansions had been put on hold; hundreds of miners across the United States had been or were in the process of being laid off; commodity prices were falling and some of the biggest mergers in the industry fell through while miners around the world put the brakes on to take a wait-and-see approach. It was a painful time for many, but the downsizing actions taken by many mining companies was exactly what needed to happen, according to Industry Outlook Luncheon featured speaker Frederick Sturm. He is the executive vice president and chief investment strategist and member of Mackenzie?s Investment team. He has earned a reputation as one of Canada?s leading investors in natural-based companies and he also manages the Ivy Global Natural Resource Fund in the United States Sturm said that the mining industry has fallen hard and that he expects it to bounce back quickly, before falling hard again. In these tough times, he said, the companies that have pulled back on production early are doing the right thing in the long run.

Jan 1, 2009