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By Amado Yataco

El presente texto describe un cuadro comparativo sobre la producción minera comprendida entre el período de enero-febrero 2017 y 2016. En este se observa un déficit reiterativo en oro, plata, plomo y estaño y un menor avance en el cobre y zinc, dada la caída de producción metálica en Antamina. Así también se describe la caída de variación del PBI de oro, plata y plomo en febrero del presente año y la participación de cada metal en la generación del PBI minero. Finalmente se describen las exportaciones e importaciones y la evolución de los metales principales de la minería en los últimos siete meses.

May 1, 2017

By Michael K. Watkeys, Charlesworth. E. GUY, Jacobus E. Potgieter, Anhaeusser. Carl R., Roger L. Gibson, Alexander F. M. Kisters

Abstract - Intrusive features of cupriferous noritoids from the deeply eroded Proterozoic granite-gneiss terrane of the Okiep Copper District in South Africa illustrate the emplacement of basic magmas into a mid- to lower-crustal environment. The small, easterly trending intermediate to basic intrusions of the so-called Koperberg Suite display a wide variety of geometries, occurrence and emplacement modes, including dike-, sill- and plug-like bodies. Coeval granulite-facies metamorphism, partial melting and ductile deformation of country rock gneisses during intrusion of the basic magmas led to emplacement and dilation processes of the intrusions which differ significantly from those described for dikes and sills at shallow crustal levels. Regional tectonic stresses are largely negligible due to very low differential stress (?1 - ?3) during deformation and intrusion, which permits emplacement at high angles to the principal compressive stress and which follows favorably inclined structural anisotropies. Dilation of the basic intrusions is largely determined by compositional differences of host rocks and occurs by thermal erosion, i.e., assimilation of wall rock gneisses. Low length-to-width ratios of basic to ultrabasic dikes and predominantly diaper -like outlines of mesocratic bodies are indicative of low viscosity contrasts between the mafic magmas and high-grade metamorphic host-rock gneisses. Buoyancy-controlled ascent of the basic to intermediate intrusions is expressed by a broad compositional zoning of basic bodies with respect to the granite-gneiss stratigraphy. Various intrusion modes within the stratigraphic column of the granite-gneiss sequence reflect a lithological and structural stratification of the seemingly homogeneous granite-gneiss terrane.

Jan 1, 1994

By Mahmut Yavuz

to in Old Uighur Turkish as Tolay kopugu, in Ottoman Turkish as Derya kopugu, and in modern Turkish as Luletasi. Scientifically known as sepiolite, it is represented by the formula Si12Mg8O30(OH)4(H2O)4(8H2O). Sepiolite is a natural clay mineral composed of hydrous magnesium silicate, characterized by a structure of alternating blocks and tunnels that develop in the direction of the fiber. Each structural block contains two silica tetrahedral sheets surrounding a central layer of magnesium oxide- hydroxide. Sepiolite exists in two distinct forms in nature: alpha-sepiolite and beta-sepiolite. Alpha- sepiolite is amorphous, compact, and resembles pellets that look like sea froth, hence its Turkish name Luletasi. In contrast, beta-sepiolite appears as amorphous aggregates or small, flat, round particles. These two forms exhibit different physical properties. Meerschaum was also studied by Brauner and Preisinger in 1958, who agreed that it primarily consists of sepiolite (2MgO·3SiO2·nH2O). According to these researchers, water is present in its mineral, zeolitic, crystal, and structural forms. Meerschaum is commonly used for adsorbing various liquids, as an ion exchanger, and for dispersing and insulating paraffin in the chemical industry (Gokdemir and Dogan, 2011). Sepiolite deposits of the meerschaum type are primarily found in Turkey, Somalia, Tanzania, Kenya, and Mexico. Alongside high-quality, low-density, and highly porous meerschaum, Somalia also has sedimentary sepiolite formations. The total reserves of these deposits are estimated at around 50–100 million tons (Sariiz and Isik, 1995). Meerschaum, also known as “white gold” or “sepiolite,” is a unique mineral highly prized for its lightness, heat- resistant properties, and ability to be carved into intricate designs. Found predominantly in Eskisehir, Turkiye, meerschaum mining and processing have become significant contributors to the local economy and cultural heritage. This paper explores the history, economic importance, mining practices, and environmental impacts of meerschaum mining in Eskisehir and discusses the challenges and opportunities faced by the industry.

Feb 1, 2025

Mineragraphy is a coined term to signify the field of microscopic investigation of ore minerals. The term is not euphonius and is sometimes regarded as superfluous because the subject is no more than an enlargement of the scope of petrology. In the past the practical field of petrology has been largely limited by the instruments which were designed for the study of rocks and' the microscopical properties of the transparent minerals. The addition of mineragraphy has been brought about by the use of the reflecting microscope and a totally different technique.The use of the petrological microscope, as it has been employed in the training oi geologists and mining engineers for nearly half a century, has been justified many times, not only in its application to general geological problems, but also in the more restricted field of the exploration and examination of ore deposits. It provides information of the gangue minerals and rocks associated with an ore body which is of great value in some mining fields. In cases where ore deposits occur selectively in certain favourable types of rock, the recognition and delineation of these rock types is a useful guide in prospecting. The Boulder Belt at Kalgoorlie forms one of the most striking examples in Australia where important significance is attached to different rock types, and the petrological microscope is essential to their elucidation.

Jan 1, 1932

By Louis D. Huntoon

AFTER the completion, in 1905, of the Hammond Mining and Metallurgical Laboratory of the Sheffield Scientific School, Yale University, it became necessary to secure and assay a large assortment of ore-samples, and to arrange the results in such a manner as to admit of use with the least amount of work on the part of the instructor. At first, pulp-samples, together with their respective assays, were secured from the mines, smelters, and public assayers, but this practice did not prove satisfactory. It was not only difficult to secure a sufficiently large supply of material, but it was also impossible to secure the proper assortment required for instructing students. It involved considerable work for the donors to select the samples and furnish a record of the assays, and also for the instructors to examine each pulp and determine its character. Some of the samples did not contain a sufficient quantity of pulp for the student to check his work in case his first assay did not correspond to the record. In order to increase the number of samples and to vary the character of the material, pulp-samples were later mixed with barren rock and with sulphides, but this method also was unsatisfactory and has been discontinued. At present., small lots of ore are secured by gift or purchase from engineers, public assayers, and the managers of mines, mills, and smelters. These lots weigh from 10 to 100 lb. each, and are rarely finer than 0.25 in. in size. The larger samples permit of a careful study by the instructor in order to determine the best method of assaying to be followed. In universities in which assaying is taught the record of the samples should fulfill the following requirements

Nov 1, 1909

By George F. Kunz

Jan 1, 1902

By C. C. Merrill

The Bureau of Mines beneficiated the wastes generated by commercial titanium chlorination operations to reclaim metal values and reduce the problem of disposing of solid wastes. A water leach solubilized about 40 percent of the dry weight and over 75 percent of the metallic impurities. The residue from the water leach was rich in titanium dioxide and carbon; it was combined with rutile and recycled to a laboratory chlorinator. The contained carbon was used in lieu of part of the coke requirement.

Jan 1, 1969

By Raymond B. Ladoo

Talc is a hydrous magnesium silicate having the chemical formula H2Mg3 (SiO8 ) 4 ; it is often called steatite, soapstone or potstorie, and by the trade names talc clay, agalite, asbestine, and verdolite. The term talc may be used to include all forms of the pure mineral, whereas steatite denotes particularly the massive, compact variety, and soapstone the impure, massive form that often contains only 50 per cent of talc. Merrill 1 says: The name soapstone is given to dark-gray and greenish talcose rocks, which are soft enough to be readily cut with a knife, and which have a pronounced soapy or greasy feeling; hence the name. Such rocks are commonly stated in textbooks to be compact forms .of steatite, or talc, but as the writer has elsewhere pointed out, and as shown by the analyses here given, few of them are even approximately pure forms of this mineral, but all contain varying proportions of chlorite, mica, and tremolite, together with perhaps unaltered residuals of pyroxene, granules of iron ore, iron pyrites, quartz, and, in seams and veins, calcite and magnesian carbonates. When pure, talc is soft, having a hardness of 1, but when impure or when it grades into its varieties, the hardness increases to 3 or 4. Talc ranges in color from pure white and silvery white through gray, green, apple green, gray green to dark green, nlso yellow, brown, or reddish when impure. It is rarely, if ever, found in wellformed crystals, but often occurs in foliated plates or in fibrous aggregates. It is commonly compact or massive or in fine granular aggregates. Several analyses of talc from different regions ·are given in Table 1. Talc has several varieties, the most important of which is Rensselaerite. This variety, found in a small area near Gouverneur, St. La.wrence County, N. Y., is a hard, fibrous, -waxlike mineral having the same chemical composition as talc, but lacking its softness and its peculiar greasy feel. Its hardness and its peculiar fibrous form, even when ground, have made its grinding and separation a separate problem. In addition to the varieties of talc and soapstone, the mineral pyrophyllite or agalmatolite, a hydrous silicate of alumina, with the formula H2Al2 (Si08 ), is also mined and sold as talc. It resembles talc in color, feel, luster, and structure, and may be successfully substituted for true talc for most uses. In this paper it will be considered as one of the commercial forms of talc.

Jan 1, 1923

By Timothy A. Clancy

To help reduce the Nation's dependence on imported chromite, the Bureau of Mines is conducting research on the use of dolomites as an alternate material. Dolomite is a plentiful domestic resource and offers certain advantages as a refractory raw material. A review of the literature has indicated that there are many sources of high-purity dolomite in this country and that European nations use a greater proportion of dolomite refractories, primarily in steelmaking, than the United States, The Bureau of Mines characterized 14 domestic dolomites as to chemistry, density, mineralogy, microstructure, and thermal behavior, to develop baseline data on their suitability as refractory raw materials.

Jan 1, 1983

By Albert H. Fay

The first data compiled by the Bureau of Mines relating to coal- mine accidents in the United States were published in Bulletin 69," in which the total fatalities by years and States were tabulated from 1896 to 1912. Since the publication of Bulletin 69, further research has been conducted, with the result that the bureau is now able to publish for the first time all of the fatal accidents described in the State inspectors' reports by States, causes, and calendar years, from the beginning of inspection service to date. For the anthracite mines of Pennsylvania, there is a continuous record since 1870; the records of the Pennsylvania bituminous mines are continuous from 1877, and, with the exception of one year, the Ohio records are complete from 1874 to date. In fact, the records of all of the States, with few exceptions, are complete; and incomplete data for any year may generally be attributed to the fact that no report was published during that year. The magnitude of the coal-mining industry in the United States is such that too much stress can not be placed on the need of safeguard- ing the three-quarters of a million men employed. Although the figures given herein show an appalling record for past years, they are not published for the purpose of proclaiming the high fatality rate of the past. They are a record of experience covering a period of 45 years, showing causes and results of many accidents in the coal mines of the United States. They represent a diagnosis of the hazard of the mining industry, pointing out the principal physical causes of accidents, and make available a body of uniform facts that will serve as a basis of preventive measures for use in future operations. It is with these great purposes in view that the Bureau of Mines presents the classified data in this report. Classification and study of mine accidents on the basis of number of persons killed is common and very old, but fails to throw enough light upon the problem involved. Many serious accidents in mines have no fatal results, hence in a tabulation of fatalities they are overlooked and the real hazard of the industry is not made clear. An accident does not necessarily include an injury that may result therefrom. Such accidents as the breaking of a hoisting cable, an explosion of powder, gas, or dust, a runaway car or motor are all serious. Although no loss of life results, they should be recorded, investigated, and studied to prevent their repetition. No accurate data for the United States are available showing how far the personal element as related to the miner and his co-worker, the mine foreman, or to the superintendent and others in authority, contributes to accidents. Many accidents are due to inexperience on the part of the miner, his failure to heed orders, a misunderstanding of instructions and last, but not least, carelessness of himself or his fellow worker. A foreman or superintendent may fail to give proper warning regarding the conditions of certain parts of the mine; he may not have inspected certain rooms or entries on the day of a mine accident; the mine may not be properly equipped, or the operator may neglect to comply with the inspector's recommendations. There is, therefore, a personal element on the part of both the operator and the miner that must be considered. Legislation and the enactment of compensation laws will make the operator realize the seriousness of the mine-accident situation, when fatalities and injuries are to be paid for in legal tender of the realm. The miner must be educated and made to realize the dangers he encounters; he must learn that self-preservation and the safety of his fellow workmen should receive his first attention; he should cooperate with his employer, his asso- ciates, and the State mine inspector to the end that the mine hazard may be reduced to a minimum. "Cooperation for safety" should be the watchwords of the operator, miner, State inspectors, and all others in any way interested in the mining industry.

Jan 1, 1916

By D. K. Uko

In the stretch-bend or bending-under-tension test, a strip is rigidly clamped and restrained at each end and bent by central transverse loading using a radiused punch: The strip deflection at failure has been used as a measure of formability for high-strength low-alloy (HSLA) steels by other investigators. In this work, a detailed study is made of strains developing during stretch bending of an 80,000-lbf/ in 2 (552 MPa) yield stress steel using different punch radii. It is shown that toward the end of the process, the bending strains at both the inner and outer surfaces are tensile and suddenly increase at a rapid and approximately equal rate. The strain ratio in the failure region departs significantly from plane strain , even using a large width-to-thickness ratio of about 10. The effective fracture strains appear to be independent of bend ratio (punch radius/thickness) and significantly below the fracture s train in simple tension. Metallographic and tensile data were obtained for the subject material and, for one bend ratio, the effects on stretch-bend parameters of annealing both on this material and a. carbon steel were compared.

Jan 1, 1977

By Alastair M. Lumsden

A study was initiated to examine the ways in which a number of foreign countries classify and regulate metal/non-metal mines which experience problems due to naturally-occurring flammable gases. Twenty countries were selected for study, and useful information was obtained from sixteen of these. Nine countries were visited (five of them twice) to hold meetings with representatives of government mine regulatory agencies and mine operators, and to visit mines encountering methane and other gases (carbon dioxide, nitrogen). In the later stages of the study seven gassy metal/non-metal mines in the United States were visited so as to provide a basis for comparison, and hence the evaluation of both the U.S. and foreign gassy mine regulations. In addition to obtaining copies of the mining laws and regulations of a number of foreign countries, nine foreign gassy mines, and the seven in the United States were documented in as much detail as possible. All this information is presented, along with appropriate conclusions and appendices. The study took two years and three months to complete.

Jan 1, 1983

By Mark Lawshe, Shosie Serata

The conventional method of mining underground, using narrow rooms and wide pillars, has proven to be poorly adapted to the powerful earth forces that act on underground openings. The high costs of roof bolting, timbering, steel arching, and other means of artificial roof support for both room-and--pillar operations and longwall gate roadways attest to the limitations of traditional mine design. Too often, productivity halts when corners buckle under "cutter roof' stresses, floors heave, and roof strata fall. In the 1960s, an entirely different approach to strata control was developed. The Stress Control Method (SCM) stabilizes failing roofs and heaving floors by removing the cause of failure - highly concentrated stresses around the openings. This is achieved by regrouping three to 10 rooms into a single entry where the rooms are separated by very narrow yielding but stable pillars. SCM employs a specified excavation sequence to redirect earth pressures away from the mine openings. The yield pillars act as scaffolding until a permanently protective secondary stress envelope forms around the entry (lower part of Fig. 1). The result is a dramatic improvement in roof stability and a significant reduction in artificial support costs. Some roof bolting must still be done, mainly to meet Mine Safety and Health Administration (MSHA) requirements. Potash, salt, coal mining The stress control method was first applied to the deep potash mines of Saskatchewan. The new SCM design actually increased room widths to enlarge the stress envelope, redistributing the stress concentration away from the entries (Serata and Schultz, 1972). This resulted in a turnaround from pervasive roof fall/floor heave conditions that threatened operations in the eight new mines opened in the Saskatchewan potash field during the 1960s. In addition to eliminating all roof bolting, SCM successfully stabilized ground conditions and substantially increased productivity over the original design (Serata, 1976, 1982). Similarly, the deep Boulby potash mine of Yorkshire, England, was about to close after various conventional means of combating roof failure had failed. An SCM test area was excavated that resulted in the ground quickly stabilizing without need o artificial support (Serata, 1982; Chilton and Laird, 1982). Another example is the Diamond Crystal salt mine in Louisiana. Here, multiple level mining was being extended from the third to the fourth level downward in the Jefferson Island salt dome. Extensive roof failure was occurring at 396 m (1300 ft) ii the third level. SCM design principles in creased the room size from 24 to 49 m (80 t( 160 ft) on the fourth level at a depth of 457 m (1500 ft). This unprecedented expansion of room width was first questioned and later ap¬proved by MS HA, which expressed satisfaction in seeing the improvement documented by field validation data in 1973. The most recent SUM application to salt mining has been in the Michigan Basin a: Goderich, Ontario. The anticipated abandonment of Domtar Chemicals Group/Sifto Salt Division's deep operation in bedded sale was prevented by a multi-year SCM implementation. The success of SCM in dry mining[lecc] to its application to solution mining of salt This adaptation of the method is now being implemented in bedded salt at Fort Saskatchewan, Alberta by Dow Chemical Co., and in St. Clair, MI by International Salt Co. Application of SCM to solution mining in a salt dome is proceeding at Napoleonville. LA by Dow Chemical. The same technology has also been applied to cavern design for the Louisiana Offshore Oil Port (LOOP), and the compressed air energy storage (CAES)

Jan 1, 1989

By J. G. George

A brief review of the silver industry is presented to set the stage for the analysis of the distribution of silver production by source from various types of mines in Canada and of the changing relationship between the total output of silver and the total output of base metals. The decline in the average grade of the Canadian mines is also discussed and a trend for the future is proposed. The report then examines in broader aspects the world primary silver production and concludes, in the section on outlook, that the effective supply in primary silver will grow at a rate significantly lower than the growth rate expected for base metals. A cumulative deficit of some 900 million ounces is projected for the period 1975-1980 and a further deficit of some 1,100 million ounces if projected for the 1980-to-1985 period.

Jan 1, 1977

By Boyd Guthrie

As the American petroleum industry surveyed its position in early 1937, it had many reasons to be optimistic concerning its future. The industry had emerged successfully from the depression, and for the first time since 1929 it had produced over one billion barrels of crude oil in a single year. The demand for gasoline and fuel oils was up, and reserves of crude petroleum and production capacity seemed adequate for the future. Although production of crude oil dropped slightly in 1938, the oil industry was still in a good position with respect to its supply of raw material, which improved economically in 1939 with the decrease of crude-oil stocks in storage above ground. However, by 1940 a threatening cloud (the invasion of France and its rapid surrender) had appeared on the horizon. This aroused Somme fears as to the industry's immediate future, and these fears were intensified the following year when the United States entered World War II. As the war progressed, more and more ships, planes, and vehicles were produced, and the problem of obtaining enough liquid fuels to supply them intensified. Hearings were held in August 1943 before a subcommittee of the Committee on Public Lands and Surveys of the 78th Congress to determine the advisability of passing legislation to promote the development of synthetic liquid fuels.

Jan 1, 1951

By E. S. Chalpin

On 25 August 1971, the U.S. Bureau of Mines contracted with the Aerojet Liquid Rocket Company to perform an engineering research program to be completed on 25 May 1972. The program objective was to evaluate the advantages and disadvantages of the underground use of several power sources including but not limited to a closed cycle diesel, electric cable/motor, rechargeable battery/ motor and exhausting diesel for mine shuttle cars, with emphasis on health and safety. This report, Research in Advanced Power Systems for Mining Health and Safety consists of four (4) main parts: (1) Hazards and Safety Analysis of Mine Power Systems, (2) Evaluation of Closed Cycle Diesel Power System for Mine Applications, (3) Closed Cycle Diesel Power System Consumables Compatibility, and (4) Concluding Remarks and Recommendations. The hazards introduced to a mine by shuttle car power system failure modes were evaluated and reported. A "fault tree" analysis was generated for each power system and the probability of death or injury during an eight (8) hour shift and for a week of operation (105 hours) were estimated. Advantages and disadvantages were also reported for each system studied. Aerojet's assessment, based on a "forced decisions analysis," of the four shuttle car power systems as to their relative health and safety is that the exhausting or open cycle diesel is preferred, followed by the closed cycle diesel, the electric cable/motor and the rechargeable battery/motor. The assessment was based on ten parameters pertinent to the health and safety aspects of shuttle cars. Drawing layouts of two typical mine shuttle cars incorporating closed cycle diesel powerplant concepts are included in this report. The performance parameters established for the two concepts are tabulated. A study was made of the logistics involved in transporting and replenishing the consumables needed to operate a shuttle car equipped with a closed cycle diesel. The closed cycle diesel powerplant consumables -oxygen, potassium hydroxide, and diesel fuel - were analyzed as to their compatibility with materials found normally in a gassy coal mine. Spill tests simulating inadvertent leakage of liquid oxygen in a coal mine were performed. A critical evaluation of existing oxygen sensitivity data and the relationship to the use of oxygen on a shuttle car in a coal mine environment is presented.

Jan 1, 1972

By Mark Springett

The problems inherent in sampling low- grade deposits have long been recognized. As economic grades become lower with increasing metals prices and improvements in recovery technology then the previously difficult sampling problem has consequently become even more demanding. The breakdown of the sample process and error is illustrated by describing in the remainder of the paper some sampling practices that have been utilized on mining and exploration properties and by describing some problems that have been encountered, providing a series of cautionary tales to those involved in any aspect of mine or exploration sampling.

Jan 1, 1983

By J. S. UNGER

A LARGE proportion of the coke used is made in the by-product oven from the high-volatile coals mined in the adjacent district. At the beginning it was feared good by-product blast-furnace coke could not be made with our coals. By experimenting with various mixtures of coals, coking time, oven design, and coking temperatures, much has already been accomplished. The results show that a hard, dense coke, not easily broken by handling, can be produced. In its present state it is not all that could be desired, but it is being constantly improved. Such coke has been used alone as the fuel on several of the blast furnaces producing the highest daily production in the Pittsburgh district. Many of the coals in the Pittsburgh district when coked in the by-product oven yield a gas which contains a high percentage of sulfur, which is objection- able for many metallurgical operations. As this fuel is gradually replacing the ideal fuel, natural gas, which is becoming less plentiful, studies are being made of the best methods for purification. Some metallurgists believe sulfur to be a very injurious element in steel. Recent investigations by Government bureaus, scientific bodies and private firms, seem to indicate that a reasonable amount of sulfur may exist in steel without detriment. Without wishing to provoke any metallurgical controversy on the subject of sulfur, the fact remains that the daily purification

Jan 1, 1926

By Elton L. Litchfield, Milton L. Weiss

Studies were made on the projectile impact sensitivity of explosives by subjecting explosive samples to the impact of metal projectiles fired from a 0.50- caliber gun . The projectiles , in the form of right cylinders , made plane surface to plane surface contact with the explosives . Pressures in the explosive were investigated with an expendable pressure transducer in some instances . The physical model of the projectile - explosive interaction describes , in principle , the duration of the peak shock pressure in terms of the projectile and explosive geometry and the steady- state penetration of the explosive . Of the explosives studied , liquid hydrogen- solid oxygen and liquid oxygen - solid or liquid hydrocarbon fuel were the most shock sensitive ( requiring an initiating shock of about 1.0 kb or 987 atmospheres pressure ) ; cast TNT was the least sensitive ( requiring an initiating shock of more than 110 kb pressure ) . Measurements of pressure in the explosive showed some moderate space resolution by the transducer and gave pressure distributions in agreement with expectations from the model of the shock processes . The appearance of the recovered projectiles and the calculated initiation shock pressures suggest that the solid explosives were initiated directly to high- order detonation , whereas the liquid explosives were probably initiated to low- order detonation-- with a subsequent , later transition to high- order detonation .

Jan 1, 1965

By C. Richard Tinsley

INTRODUCTION The economic analysis (Chapter 3), the engineering studies (Chapter 10), the credit structure (and the consequential funding sources) - Chapter 11, and the overall feasibility structure for any venture are all directed to determining one major decision element: How much and how certain is the reward for taking these risks? Risk assessment is a surprisingly weak area of analysis and is usually addressed in a checklist fashion. It is much preferable to deal within a risk system so that the inevitable tradeoffs among risks are correctly made. DEFINITION The first step toward risk definition must be to ascertain all of the risks to which a project or a company is exposed; otherwise one will remain ignorant of the possibility of a financially crippling loss until it occurs. (Carter and Crockford, 1974). However, simply stating what "risk" is can lead to debate. For example, risk could be (adapted from Vaughan, 1982): -the chance of a loss - uncertainty of loss -possibility of loss - uncertainty -dispersion of actual from expected results - probability of an outcome different from the one expected - possibility of an occurrence of an undesirable contingency -a condition in which a possibility of a loss exists. For the minerals industry financier, the last definition is probably the most appropriate. However, from a mineral company's point of view the definition might well include the possibility of not achieving the expected financial return. RISK CLASSIFICATION Risk identification will be readily agreed as the all-important first step. There are five major "branches" of risk classification. These are: -Statistical -Modellers -Checklist -Project Financing -Insurance The Statistical set discovered probability theory and any risk discussion soon deteriorates into a mathematical jungle (Megill, 1977; Hartman, 1976; Reutlinger, 1970; and Pouliquen, 1970).Their use of terminology tells its own story: coin toss (binomial distribution), gamblers' ruin, delphi (oracle) techniques, monte-carlo simulations, random walks, etcetera. These techniques inadequately represent the judgements necessary in an increasingly complicated and interrelated world. The risk Modellers have turned to the computer to handle these inter-relationships but soon find barriers because of "simultaneity". Certainly the computer has its uses to conduct various analyses (marketed as "sensitivity" analyses) but very often one finds that this involves changing one or two variables at a time, all other things being equal. Unfortunately, in a modern and complex world all other things do not remain equal. The statisticians will, no doubt, jump to their own defence by citing this

Jan 1, 1985