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A comparison of gold, platinum and sulfide ion selective electrodes was made in this investigation for determination of Eh in solutions containing sulfide ions as a model system. The comparison was made in terms of the accuracy of the measured response, response time, pH dependence, and reproducibility of measurement. In addition, the sensitivity of each electrode towards changes in sulfide ion concentration was measured in terms of the change in measured Eh per decade change in concentration of sulfide ions. On the basis of a detailed investigation of the electrode processes occurring at the surface of gold and platinum electrodes, it was postulated that within the pH range investigated these electrodes respond to changes in the hydrosulfide ion, HS-, concentration in solution. In comparison, the sulfide ion selective electrode is known to respond to changes in the sulfide ion, S-, activity in solution. Although the potentials measured with gold and platinum electrodes were mixed potentials, pretreatment procedures can be used to obtain a signal suitable for process control. For control of sulfide ions in flotation pulps, the use of a gold electrode pretreated at 1.0 V with respect to a standard hydrogen electrode is recommended.

Jan 1, 1990

By B. G. Stone

"INTRODUCTION “Sampling is the process of taking a small portion of an article such that the consistency of the portion shall be representative of the whole” (Baxter and Parks, 1939) “An orebody is a mixture of minerals in proportions that vary in different parts of the mass. As a consequence the proportion of contained metals also varies from place to place. Therefore, a single sample taken in any particular place would not contain the same proportion of metals as does the orebody as a whole except by a highly improbable coincidence. The probable error, which would be very large if only one sample were taken, decreases with the number of samples, but it never disappears completely unless the samples are so numerous and so large that their aggregate is equal to the orebody itself, in which case the orebody would be completely used up in the process of sampling. Since carrying sampling to such an extreme would defeat its own purpose, some probable error is always present in actual cases and the practical objective is to reduce this probable error to allowable limits. This means balancing the number of samples against the desired accuracy; if there are not enough samples the result is unreliable; if there are too many, the time and expense of taking them is excessive.” (McKinstry, et al., 1948). In an actual orebody, the accuracy of sampling depends not alone on the number of samples but also on proper distribution of them throughout the orebody, for it would obviously be incorrect to take all of the samples either in a rich part or a lean part. Therefore it is important to select the places in such a way that all parts of the orebody will be represented. “For those who cultivate land which is alike arid, heavy , and barren, and in which they sow seeds, do not make so great a harvest as those who cultivate a fertile and mellow soil and sow their grain in that. And since by far the greater number of miners are unskilled rather than skilled in the art, it follows that mining is a profitable occupation to very few men, and a source of loss to many more.” (Georgius Agricola page 5 Book 1 as translated by H.C. Hoover and Lou Henry Hoover, 1950)“It is evident that mining is very profitable to those who give it care and attention”"

Jan 1, 2015

By E. L. Piper

Natural graphite has been known for many centuries, having first been reported as a distinct mineral form by Gessner in 1565. At that time, graphite was used extensively as pencil "lead" because of the ease with which it marks paper. It is a black, unctuous material found as flakes, lumps, or needles in scattered locations throughout the world. The less crystalline, or "amorphous", natural graphites are thought to have been formed from coal under conditions of high temperature and pressure. The more crystalline varieties, such as those mined in Ceylon, probably were precipitated from molten solutions or were pyrolyzed from gaseous carbon compounds. Recognition of the good thermal and electrical conductivity of graphite, together with its highly refractory nature, led to an increasing number of appli¬cations for this material. Clay and pitch bonded natural graphite has been used in crucibles, refractories, foundry facings, and other high-temperature appli¬cations. These forms constitute the most important current uses for natural graphite in the United States. Other products containing natural graphite include batteries, lubricants, pencils, brake linings, etc.

Jan 1, 1973

By Brandon Barnes, Michael Haggerty

"Around Minneapolis and Saint Paul, Minnesota, the local geology includes the St. Peter Sandstone, which is easily minable and has facilitated construction of interceptor tunnels for storm water and sanitary tunnels since the 1800s. The elevation of the geologic units allowed gravity-driven flows from the downtown areas all the way to the Mississippi River. Through many years of service, some of these tunnels have experienced degradation and require maintenance. Additionally, increased stormwater surface runoff can result in internal pressurization of the tunnels, accelerating degradation. Because structural failure or collapse of any of these interceptor tunnels would create a significant repair challenge, the city of Minneapolis has been inspecting and designating tunnels in its system for periodic review and repair. One of these, the St. Mary’s/Hiawatha tunnel, was rehabilitated using a grouting program. A hydrologic model was also used to improve understanding of pressurization events during some storms, leading to construction of a near-surface pressure dissipation chamber to provide increased hydraulic capacity. BACKGROUND The St. Mary’s/Hiawatha tunnel in Minneapolis has three segments; the first two were constructed in 1942 and the third was added in 1987 (Figure 1). Segment 1 is approximately 4,700 feet in length and outlets to the Mississippi River. Segment 2 intersects Segment 1 approximately 3,500 feet upstream of the river outlet and continues for approximately 2,500 feet in a southeasterly direction. The third and newest segment is approximately 500 feet long. There are four different cross sections of tunnel along the entire system.Originally, tunnel construction often consisted of mining the St. Peter sandstone with a pressurized water lance and constructing wood lagging support (Payne, 1967). An underdrain was generally installed below the invert during construction; this resulted in localized dewatering and provided groundwater control during construction. Non-reinforced concrete liner sections were cast in place. Often void space existed between the tunnel liner and the native sandstone bedrock. These voids, particularly in the crown, prevent direct contact between the liner and the bedrock."

Jan 1, 2016

By R. Hogg

The sedimentation and dewatering characteristics of flocculated slurries are determined by the size and density of the flocs. Studies of the formation and growth of flocs reveal that floc size is limited by breakage of the agglomerates due to shear in the suspension. Floc density measurements indicate that there is an inverse relationship between size and density. This relationship appears to be determined primarily by the nature of the solid particles, especially the size distribution, but it appears that agitation of the suspension can lead to some densification of the flocs, in addition to breakage. It follows that both size and density can be controlled to a significant extent by regulating the physical conditions (agitation, method of flocculant addition etc.) during flocculation. The use of physical floc conditioning to control the sedimentation and dewatering (filtration) behavior of flocculated, fine-particle suspensions is evaluated in terms of its effects on floc size end density.

Jan 1, 1986

By Siyu Song, Yanhong Wang, Guohua Gu, Linbo Huang

In this study, the effect of cations, Na+ and Mg2+, in saline water on copper flotation in the presence of calcium bentonite was investigated. It was found that as the concentration of NaCl was increased, the copper recovery initially decreased and then increased to above 99%, while the copper grade initially increased and then decreased. In contrast, as the concentration ofMgCl2 was increased, the copper recovery continuously increased, while the copper grade continuously decreased. The variation of copper recovery and grade was mainly attributed to the synergistic effect of pulp rheology and flotation solution chemistry. The underpinning mechanisms are the compressing electrical double layer and ion-exchange interaction between saline water and bentonite, which occur at the same time. Using salinewater slightly affected the pulp rheologywith a decrease in copper recovery at low NaCl concentration. Increasing the concentration of cations in saline water might even facilitate the flowing out of exchangeable cations, especially divalent cations, from the interlayer space of bentonite to the solution, resulting in the decrease of copper grade at high salt concentration.

Sep 10, 2020

By Shingo Morimoto, Toru Sasaki, Masato Shinji

"1. INTRODUCTIONTunnel face stability is one of the most important consideration in New Austrian Tunneling Method. In general, if all of the material properties of ground can be obtained through the field investigations, the tunnel face behavior can be predicted using numerical simulation prior to tunnel construction. However, estimating the safety of a tunnel face is difficult, especially in cases where the ground is very weak such as in an urban area.In this study, numerical analyses of tunnel excavation in very weak ground conditions, such as a low cohesion and low internal friction angle, were carried out. The relationship between the average shear strain distribution on the tunnel face and the overburden was analyzed. This relationship estimates the shear strain of the tunnel face relative to the critical shear strain obtained by the ground properties. The critical shear strain was defined as an allowable value for the maximum shear strain. We proposed the allowable overburden as tunnel face stability index (TFI) that satisfies the critical shear strain criterion of ground. Finally, a design chart of the allowable overburden for various cohesion values and friction angles of ground was created. This chart is useful in the preliminary tunnel design stage to judge the necessity of additional counter measures against normal tunnel support design.2. WEAK GROUND MODELING AND ANALYSIS PROCEDURE2.1 Setting material propertiesWith reference to a past study1), the material properties were adopted on the basis of material properties in the standard worst rock classification case called “DII”2) for standard support pattern of weak ground in Japan. The typical material properties for “DII” are listed in Table 1. In addition, Fig.1 shows the distribution of the representative weak ground according to cohesion and internal friction angle. When the internal friction angle is relatively high and the cohesion is weak, the ground is categorized as sandy ground. Furthermore, when the internal friction angle is low and the cohesion is strong, the ground is categorized as clayey ground."

Jan 1, 2016

By M. S. Celik

Beneficiation of boron minerals by flotation with well defined systems has been very little investigated in the literature. The difficulty arises from the fact that boron minerals cover a spectrum of solubilities. Colemanite, a calcium containing relatively insoluble boron mineral, and borax, a highly soluble boron mineral have been used to exemplify the flotation of boron minerals. The floatability of both minerals using sodium dodecylsulfonate and dodecylamine hydrochloride exhibits considerable differences in their response to flotation. This has been ascribed to variations in the solubilities 0f boron minerals and the presence of the cations in the lattice structure. Flotation tests along with zeta potential measurements are used to elucidate the mechanisms involved in the flotation of boron minerals.

Jan 1, 1992

By Ihsan Berk Tulu, Ted Klemetti, Deniz Tuncay

Accurately estimating load distributions and ground responses around underground openings plays a significant role in the safety of the operations in underground mines. Adequately designing pillars and other support measures relies highly on the accurate assessment of the mining-induced loads, as well as the load-bearing capacities of the supports. There are various methods that can be used to approximate mining-induced loads in stratified rock masses, both empirical and numerical. In this study, the numerical modeling approach recently developed at West Virginia University, which is based on the modeling approach developed by the National Institute for Occupational Safety and Health (NIOSH), is investigated using the finite difference software FLAC3D. The model includes the longwall panels, the adjacent chain pillar systems, and the different stratigraphic layers of the overburden. Using the 3D model, changes in loading conditions and deformations on the areas of interest, induced by an approaching longwall face, can be examined. This paper details the 3D modeling of a longwall panel utilizing this approach, and the verification of the results against field observations. The studied panel was 360 m wide with a 3-entry chain pillar system and about a 160-m average overburden depth around the studied area. The overburden strata consist of alternating layers of shale, sandstone, and limestone. The FLAC3D results were compared against field measurements from the mine site. The stress change values measured in the chain pillars were comparable with the modeling results. The model also replicated the surface subsidence profile obtained from field measurements fairly well. Overall, the 3D modeling approach was found to be successful for the case study longwall panel.

Sep 23, 2020

By George P. Demopoulos, Vladimiros G. Papangelakis, Dimitrios Filippou, A. J. Monhemius, G. W. Warren, E. Peters

A new method developed for the estimation of the activity of Ht in mixed sulfate solutions is described and examples of application of this method to the system H2SO4-ZnSO4-FeSO4-Fe2(SO4)3 from 298 to 473 K are offered. The method makes use of an "extended Debye-Hiickel" type of equation that was originally put forth by Das for pure H2SO4 solutions at ambient temperature. The treatment of mixed sulfate solutions was made possible by combining that equation of Das with a speciation algorithm which calculates the abundance of all species formed. The developed method, which also takes into account ionic strength and temperature effects, was used to generate hydrogen ion activity and speciation data for all possible acid/metal sulfate pairs of the system H2SO4-ZnSO4-FeSO4-Fe2(SO4)3. Finally, under the light of the reported data, specific examples of hydrometallurgical reaction systems are analyzed in terms of thermodynamics or kinetics. In particular, the systems discussed are: hydrometallurgical precipitation of hematite, solvent extraction of Fe(III), acid leaching of zinc ferrite, and oxidation of Fe(II) to Fe(III) by O2(aq).

Jan 1, 1993

By M. Canty

An innovative biological treatment system designed to detoxify cyanide and nitrate and immobilize metals from cyanide leach operations is described. A pilot-plant demonstration was conducted to detoxify cyanide and immobilize several metals from a process stream at the McCoy/Cove Mine. Testing was performed under the EPA's Mine Waste Technology and Superfund Innovative Technology Evaluation Demonstration Programs. This technology was successful in detoxifying cyanide and effective in removing metals. The pH was consistently neutralized and nitrates were successfully removed. Results show that biological treatment can offer an innovative, cost-effective alternative for the treatment of mining wastewaters.

Jan 1, 1999

By A. K. Bakshi

Slurry rheology affects autogenous grinding performance by changing the rock's breakage characteristics. In this study pilot scale batch autogenous grinding was carried out to observe the effect of viscosity on the breakage characteristics of the rocks (the media), and on the overall specific energy consumption. Clay/fines content, and temperature of the initial charge, were varied to alter the viscosity of the slurry. Results showed that at higher slurry viscosity, rocks became more difficult to break, resulting in an overall increase in the specific energy consumption of the mill. Also, it was observed that viscosity had a significant effect on the amount of critical size material present in the grinding circuit, where the critical size material is the material which is too large to be effectively ground in the mill, and too fine to act as grinding media.

Jan 1, 1996

By G. Bonifazi

Certain deposits of incoherent materials which are near the surface and exploitable by open-pit mining may be characterized in real time before they are mined through an analysis of ground-surface imagery. If the slice to be stripped is not overly thick, in fact, surface texture and color properties may be extrapolated to its entire thickness. Image analysis techniques to process ground surface images acquired in situ (or in the laboratory shortly after their acquisition) which yield pattern vectors representative of RGB color component distributions and HSB texture parameters have been developed. The techniques were applied to a mineral sandy ore deposit containing three different lithotypes. Geostatistical analyses showed that the data used to characterize the lithotypes were reliable. The correct recognition of the lithotypes was carried out using a multi-barycenter classification algorithm. Such in situ image-analysis procedures open the way to the proper selection of the ore to be mined, or the proper way for run of mine (r.o.m). processing, or the appropriate blend to be processed before or at the same time as the mining process itself is enacted.

Jan 1, 1999

Passive seismic monitoring is a useful tool for measuring wave propagation in rock mass in deep underground mining. About 20000 mining ? induced seismic events of a hard rock mine, are identified and investigated. The travel times of source-receiver pairs allow us to demonstrate temporal change in velocity. It was found that the average P wave velocity is about 6000 m/s in the mining regions. Velocity investigations on the data during about three months around the main shocks show a significant decrease of the average seismic wave velocity after the main shocks. The sudden drop of average velocity change after the main shocks implies the creation of new fractures in the rock mass due to the main shocks. Afterward, the average velocity increased to a normal level after a time duration of several days. A reasonable explanation for the post seismic velocity increase is that opened cracks begin to close due to crack healing.

Feb 23, 2014

By J. M. Bray, R. R. H. Cohen, P. Kiousis, S. R. Al-Abed

"INTRODUCTION Conventional tailing storage and management practices typically utilize engineered facilities, such as ring dikes and valley impoundments. To reduce the environmental costs associated with disposing of mine wastes in tailing storage facilities (TSFs), several beneficial re-use strategies have been developed over the years. For example, thickened tailings have been used for paste backfill. It is common for tails to comprise up to 60% of the material’s total weight and it has been estimated that TSF volumes can be reduced by 60% when using this strategy, (Benzaazoua, et al. 2004). Other beneficial re-use strategies have produced unpaved temporary access roads, hot and cold asphalt, chip seals, self-compacting concrete, and golf course sand traps. This project sampled mine tailings from two different TSFs in Colorado and produced structural concrete that could potentially be used for commercial foundations, sidewalks, and paved roads. The tailings were substituted for the fine aggregates typically found in conventional concrete. The two main objectives of this study were to investigate the structural integrity of the produced concrete samples and the leaching of heavy metals from the resulting concrete. The ratio of tailings to fine aggregate (T/FA) was carefully studied to find if there was a correlation between the substitution rate and the structural integrity. The potential maximum substitution rate was also investigated for the produced concrete specimens. The potential of leaching mining impacted water (MIW) was evaluated by comparing the leachability of the raw mine tailings to the encapsulated tailings by using standard shake extraction prediction tests. MATERIAL AND METHODS Materials The four components that make up the concrete mix design for this project are: cement, coarse aggregate (gravel), fine aggregate (sand and mine tailings), and water. The type I/II ordinary Portland cement (OPC), gravel, and sand came from local cement and concrete companies in Denver, Colorado. Mine tailings were collected from two different TSFs in the Rocky Mountain Region, where Pride of the West TSF in Silverton, CO will be denoted as Site A. The primary metals of interest at the mill site are gold, silver, lead, copper, and zinc. The location of Site B will not be mentioned in this report due to confidentiality agreements with the mining company"

Jan 1, 2016

By D. M. Thayer

Dry magnetic separation of feebly magnetic minerals and wet magnetic separators suitable for highly magnetic minerals have been commercially utilized for a number of years. The beneficiation of magnetic taconite ores by conventional, low intensity magnetic separators in combination with flotation is well established technology (1). However, over the past decade much effort has been expended in developing techniques for the upgrading of feebly magnetic oxidized iron ores (2,5). Such research and development have been stimulated by the limitations of the above-mentioned techniques in application to ores containing fine material; for example, ores requiring fine grinding for liberation or slime-forming ores such as the oxidized taconites or semi-taconites. Wet separation has allowed the reduction of the minim particle size that can be effectively treated from that allowable for high intensity dry magnetic separation. Consequently, the development of high intensity wet magnetic separation methods has received much attention in the search for an effective method to treat the weakly magnetic minerals. Recently Lawver and Hopstock (5) have provided an excellent review of the state of know- ledge of this technology. In addition, a valuable compendium of available laboratory and commercial devices is included. Nonetheless, the feasibility of the use of high intensity magnetic separation in a particular application is largly empirical in nature and requires experimentation to chazacterize the response of a particular ore. The purpose of this paper is to assess the incorporation of high intensity magnetic separation for the beneficiation of a non- sliming specular Michigan hematite. Particular attention is focused on the existence of a lower limit of particle size that can be treated effectively and is inherent in the use of these techniques. Additionally, a rationalization of various models presented in the literature is attempted.

Jan 1, 1979

By E. F. Klein, R. L. Eacret

Introduction In contrast to the general type of crushing mechanism in which the crushing surfaces alternately approach and withdraw from each other, described earlier in this section, and continuous-pressure break¬ers such as rolls and roller mills that will be described in a later chapter, impact crushers load by striking pieces of rock while in free fall and hurling them at high speed against stationary surfaces. Because the impact crusher depends for its effectiveness upon high velocity, wear is greater than in the slower-moving jaw and cone¬type wear parts, and for this reason its use is strictly limited to rela¬tively soft, friable, and sticky rocks that are characteristic of many nonmetallic mineral deposits. A few of these are phosphates, lime¬stone, barite, clay, asbestos rock, and coal. However, several examples of their use on soft lead-zinc and precious metal ores have been known. Although the use of impact crushers is expanding today into the range of ores containing as much as 15-18% silica, Taggart16 set the practical limit at 5%, and in the 1940s and 1950s several installa¬tions in the US and western Europe exceeded the limits of economical maintenance and were quickly superseded by the slower-moving, con¬ventional crushers. A rock that tends to be plastic or bouncy in a jaw or gyratory crusher when the force is applied slowly to reach ultimate strength, may become brittle with rapid loading and thus increase the effective¬ness of the applied forces. For this reason it is to be expected that as the quality of hammers, grates, plates, and cages improves with advances in steel technology, the use of high-speed crushers of this kind will increase. Terminology Modern usage differentiates between the impactor and the hammer mill, the former relying primarily on the impact of hammers (fixed or free-swinging) and secondarily upon pieces striking one another or steel surfaces; the hammer mill relies on both the centrifugal impact force of free-swinging hammers and the attrition and shear action between these hammers and well-placed grates suspended at the bot¬tom just below the hammer circle. The hammer mill, because of its grate discharge, restricts discharge of oversize rock to the grate open¬ing, while at the same time providing a trap for removal of tramp iron or other uncrushables. The impactor discharges free, so generally works with a screen to control product sizes. The question of terminology, impactor vs, hammer mill, creates difficulties because the similarities appear to outweigh the differences by far; if one were to list the similarities in order of importance and then the differences, he would be forced to conclude that they would best be dealt with as a single kind of crusher. Taggart16 gave it four names and added "as it is variously known," but it must be remembered that in 1945 the machine was nearly exclusively of the flailing-hammer type, while today the fixed-hammer rotor is also com¬mon. In this chapter the terms impactor and hammer mill will be used where they seem to apply. It is perhaps unfortunate that this terminology is being confused with rock breaking at the mine, usually with hand-held tools, e.g., the article "High-Energy Impact Rockbreaking" by Grantmyre and Hawkes, CIM Bulletin, August 1975. General Description Impact breakers, impact crushers, and hammer mills accomplish material breaking and reduction primarily through impact action of the material with fixed or free-swinging hammers revolving about a central rotor. The material to be crushed enters through an opening at the top or top side known as the "feed opening" or "hopper opening" and falls into the path of rotation (hammer circle) of the hammers. Initial breakage is accomplished in midair by collision of the dropping feed material with high-speed hammers. The second stage of breakage occurs when the pieces hit plates or breaker bars which line the crusher boxlike frame. Hammer mills rely further on a shearing and attrition action between free-swinging hammers and grid bars or grates at the crusher bottom which restrict discharge of oversize material until it is broken sufficiently to pass through the grid opening. The term hammer is used in reference to the piece which strikes the material, whether it is fixed on the rotor or free-swinging. It

Jan 1, 1985

By Frank A. Jerabek

Pneumatic stowing was first introduced in longwall mining in the middle twenties. Since that time it has advanced through many stages of development, particularly abroad, which have greatly improved its efficiency and contributed to its growing use. Pneumatic stowing originated in coal mining but has also been adopted in metal mining. This paper discusses the techniques of pneumatic conveying of. stowing material and equipment and applications of pneumatic stowing.

Jan 1, 1966

By H. Shafick Hanna

The major problems are identified the high phosphorus content and the fine dissemination or encapsulation of mineral impurities, in, ,the iron bearing minerals, A process which combined extreme fine grinding techniques with magnetizing roasting or flotation separation methods, is suggested. By these methods concentrates assaying 60-61 percent Fe exceeding the widely accepted upper limit of 56 percent Fe set for these ores, were produced with 75-90 percent iron recovery. Moreover it was shown that the phosphorus content of these concentrates could be reduced from 0.25 to 0.03 percent phosphorus by acid leaching. A brief discussion on production costs based on current and future developments in iron ore processing is given.

Jan 1, 1980

By Alexander Sutulov

1. INTRODUCTION According to the classical economic approach of the open market economy, copper supply should be regulated by market forces which are (a) demand and (b) prices. In fact, demand is of primordial importance because prices are a reflection of supply-demand balance: they go up in times of shortages of supply and down when over-supply situation exists. In the past few years, this basic mechanism of market economy has been under pressure from a number of non-market forces, such as social and monetary problems of sane important copper producing countries; structural changes in copper mining companies through mergers with oil companies; and other factors which greatly contributed to distortion of the basic supply-¬demand equation. As a result, we have faced in the last three years a situation of oversupply rarely seen in the past, with a catastrophic fall in copper prices, huge losses at mines and unprecedented indebtedness of copper producers. This has deep repercussions in the copper business and its future supply outlook. This is particularly so when taking into consideration that high indebtedness and high interest rates conspire against the very survival of some traditional producers. As we write this comment (July of 1985), close to one half of U.S. copper production capacity is closed down, sane of it for good, while the same precarious situation exists in Canada, Australia, Zambia, and some other primary producers who cannot face present low prices with equally low costs. The question is then what this situation means for the medium-¬term future, until the end of this decade, Particularly when taking into consideration the fact that some of the factors influencing it are of a long-term character. 2. SUPPLY-DEMAND SITUATION IN THE LAST FIVE YEARS Since the last boon year, in 1979, when world copper consumption reached a record of 9.8 million metric tons of refined copper, demand dropped to only 9.0 million tons in 1982, when the crisis bottomed out, and then steadily recovered to the level of 9.7 million tons in 1984. Meanwhile, copper production, which in 1979 was only 9.4 million tons, in spite of the fall in demand, grew to 9.7 million tons in 1981 and 1983 and only temporarily was cut to 9.4 million tons in 1982 and to 9.5 million tons in 1984. As a result of this imbalance, hugh copper stocks were accumulated with supply systematically out¬growing demand by over 2 million tons at one time. With the Western World refined copper demand running at an average of 115,000 tons per week, this oversupply was equivalent to between 15 and 18 weeks production, i.e. twice as large as normal. This was immediately reflected in very low copper prices. Another contributing factor to relatively low copper prices was the lack of speculator interest for this commodity. Between 1981 and 1984 the world experienced a very intensive period of wealth distribution, high interest rates and intensive restructuring off world economy and its industrial sector. Therefore, much of the available money was attracted to more lucrative and attractive investments rather than to the lack-luster performance of copper, and for that matter, of the metal sector in general. The much announced and discussed recovery of the U.S. economy since 1983, and particularly in 1984, with an overall growth of the GNP by 6.8% in 1984, happened to be more oriented to the service sector than the industrial sector and therefore this recovery was not adequately reflected in copper consumption nor to metals in general. This put serious doubts about the future demand for copper. Consequently copper prices failed to improve in spite of an apparent fall in stocks and a healthy increase in the demand for copper since 1982. At the time of this writing (July, 1985), although same analysts claim that the available stocks are running at about 8 weeks of supply, which are considered to be below normal, copper prices are still very low at between 65 and 67 cents per pound of copper. Part of the answer may be the normal seasonal slow-down period in the Northern Hemisphere due to summer vacations and

Jan 1, 1986