Search Documents

By Evangelos Spyridonos, Thomas Frommer, Wolfdietrich Skala, René Prissang

Operational grade modelling is a technique that uses production data to run daily updates of property models. It will enable mining engineers to use property predictions based on the most recently acquired data as support for quality control and decision making. The approach necessitates that the properties of the run- of-mine material can always be attributed to individual mining blocks or charges. The software employed must be highly reliable, because a system failure or the loss of data could seriously affect the mine's quality management. An operational grade modelling system has been developed for the Breitenau magnesite mine. It makes use of the Linear Octree Based Property Modelling system which was conceived and realised at the Free University of Berlin. This paper describes the system design and gives an account of the experiences during the first six months since system start-up.

Jan 1, 1996

By John N. Murphy

The environmental status of underground mining operations is critical to the health and safety of the miners; particularly in a large mine, the multitude of interacting parameters that can favorably or adversely affect the environ-mental status makes the manpower requirement of the routine checking of specific areas and conditions a formidable one. While the concept of environmental monitoring for miners has been considered for some time, until recently the availability of sensors to reliably measure the parameters of interest severely limited the utility of such systems. The status of sensors for mine use and the evaluation of environmental monitoring systems is reviewed.

Jan 1, 1977

By Joseph E. Worthington

Increases in the price of gold starting about five years ago, and rapid fluctuations since then, have caused a substantial popular interest in the noble metal. Gold prospecting had been at low ebb since the end of World War II in most of the United states except for a flurry of activity in Nevada occasioned by the Carlin and Cortez discoveries. The last five years, however, have seen a great awakening of interest in gold exploration as well as an opportunity for education for many explorationists in the geology and other vagueries of gold deposits. The present writers have participated over the last few years in a search for gold deposits throughout the United States. This search was greatly influenced by the geologic studies of Dr. Wm. Spence at the Haile Gold Mine in South Carolina as reported in a companion paper. Spence's studies resulted in definition of a geologic model that has proven useful in a number of other geologic environments in the united states. These programs were all carried out under the auspices of Cyprus Mines Corporation and permission by Cyprus to present these results is gratefully acknowledged. The writers, however, reserve for themselves all responsibility for the results and conclusions. The exploration program to be described began in the southeastern United States. Spence's studies provided a reasonable basis for interpreting and understanding the geology of the Haile deposit and also provided a means for predicting additional occurrences. This concept was then expanded to other gold occurrences in the Piedmont and became an effective tool for evaluating other prospects. Finally it became evident that the concept could be applied in some western gold districts. The following discussion will then include descriptions of other Piedmont examples and a few western districts that also appear to fit the pattern.

Jan 1, 1978

By Lake H. E.

The request to participate on your theme panel was accepted with some reluctance but indeed as an honor. My subject was outlined to cover 'Energy Resources - both nuclear and conventional' as related to your theme 'Minerals - Treasure Trove of the West'. This is indeed quite an order and I hope you will forgive me for concentrating mainly on the nuclear-uranium portion with brief references only to conventional fuels some of which will be covered in detail later in your conference. In regard to Uranium, I am speaking on the fringe of the area containing half the uranium reserves in your country and no doubt to many who are very conversant with knowledge of these resources. Nevertheless since our two countries have been very closely allied in both nuclear developments and uranium supplies I hope an exchange of information may be mutually beneficial. Concentration on the nuclear fuel resources is I hope understandable as nuclear energy is the coming source of power which will augment the rapid demand in the industrialized countries and provides hope for economic power in many of the more underdeveloped countries. The situation regarding conventional fuel resources is more widely known and their expanding future revolves around production cost reductions, research into diversified uses, plus more assurance of imports from countries less effected by international controversies determining export policies.

Jan 1, 1967

By Stanley C. Suboleski, C. B. Manula

INTRODUCTION In any mining operation all possible steps should be taken to increase efficiency. One area for improvement is mine planning and design, particularly in the area of equipment selection for room-and-pillar systems. Be- cause of the availability of a wide variety of face machines, a fair degree of selectivity can be exercised in the choice of equipment for a particular job. However, this choice must be made on the basis of quantitative facts and forecasts related to the mining application. The purpose of this section is to develop and analyze the details of the mining process. Some specific areas studied include the relationship of system design to productivity, suboptimization as a result of equipment changes, and measurement of system performance. The plan of work leading to a quantitative description of these study areas is based on the growing interest in total system design using simulation as an analytical method (Manula, 1963). CHARACTERISTICS OF PRODUCTION OPERATIONS FROM ROOM-AND-PILLAR SECTIONS For a given mining method, raw production in a given section of a mine is primarily dependent upon the coal seam thickness, roof and floor conditions, methane emission, the mining methods, and the man-machine element. Average section production varies from 300 to 800 st per shift for conventional and continuous mining in high seams and from less than 100 to 300 st per shift in low seams. Since the reject varies from 0 to 40%, these figures must be decreased by the appropriate percentage to reflect the amount of clean coal mined. Personnel requirements per production section per shift for the various methods are listed in Table 1. Table 1. Production Personnel Method No. Method No. Conventional 12-1 5 Longwall 9-14 Continuous 9-1 2 Shortwall 9-12 MINING VARIABLES To evaluate the constraints and interrelationships for various mining methods, it is necessary to categorize the variables which underlie system production potential. Seven critical independent variables which determine production can be identified and categorized (Suboleski, 1978) : Seam Height The five categories are as follows: less than 36 in.;. 36 to 55 in.; 55 to 100 in.; 100 to 180 in.; and greater than 180 in. Floor Quality Floor quality ranges from : Excellent: Smooth, hard, grades less than 1 to 1 % % , and dry. Good: Smooth, soft but dry, with grades less than 3 % . The floor will deteriorate, but cautious operation can prevent it. There may possibly be heaving at some later time. Fair. Soft and damp. There is occasional interference with equipment operation; requires the use of four-wheel drive shuttle cars; ruts with regular use, and may have adverse grades of 5 to 7%. This may be coupled with slippery bottom and/or occasional steep rolls. Poor: Soft and wet. Requires blocking of the bottom to support equipment. There are frequent steep rolls and grades in excess of 7%. Roof Quality Roof quality ranges from : Excellent: Men are able to work under the unsupported top during the initial production cycle if legally permitted. Good: The roof is bolted on a 4 x 4 or 5 x 5 pattern with short bolts (442 in.) or <seam height if the seam >42 in., or requires posting with no bolts on a 4 x 4 or 5 x 5 pattern. There are no falls. Average: The roof is normally bolted on a 4 x 4 or 5 x 5 pattern, but with long bolts (>seam height or >6 ft.). There are infrequent minor falls or there may be an excellent roof which is difficult to drill. Fair: This type often requires spot bolting in addition to the regular pattern or bolting with planks. The roof conditions require shorter than planned cuts, or narrow cuts. Poor: This type requires bolts plus crossbars and posts, or installation of yielding supports or truss-type support. It is almost certain to fall if this is not done. Methane Liberation This ranges from none detected to low (no buildup at the face, even with minimum ventilation requirements) to moderate (the curtains must be extremely tight and tubing close to the face or methane will build up to 1 % during the loading of the car) to high (methane will build up to 170 if the miner is operated at the normal rate, even with proper ventilation). Hardness of Coal Coal hardness falls into the following categories: Soft: Soft coal is easily cut by a continuous miner. A plow could be used by longwall. Average: Coal of average hardness could be easily cut by a miner, and a shearer would be used in the longwall. Moderate: Moderately hard coal causes difficult cut-

Jan 1, 1982

By Omid Asghari, Seyed Reza Ghavami-Riabi, Sajjad Talesh Hosseini

Separation of geochemical anomalies from the background using various methods for identifying areas of higher mineral potential is a critical first step in Greenfield and Brownfield programs. There are several methods for differentiating anomalous regions from the background. The U-spatial statistics is an effective technique that provides the opportunity of reaching this goal by considering the geochemical sample locations in the separation of geochemical anomalies. In this study, a developed form of the U-spatial statistics method is introduced, which not only considers the existence of anisotropic spatial variations in input data but also reduces the computational (CPU) time. While the previous method is based on the isotropic assumption in the study area and a set of search windows at different times, here, the geochemical anomaly is determined by pasting only one ellipsoid window, effectively combining the flexibility of the U-spatial statistics method with the advantages of geostatistical approaches. This paper compares various approaches (the previous and developed version of the U-spatial statistics method, concentrationarea (C–A) fractal model, and probability diagram modeling) for the separation of anomalous areas in the presence of heterogeneous spatial variations. This is done with an application to a Baghqloom porphyry copper deposit located in southeastern Iran. The high potential areas identified via different approaches show an anomalous region in central parts of the Baghqloom area, which partially coincides with an intense potassic alteration area. Compared to other methods, our algorithm separated the high potential areas at a greater spatial resolution.

May 3, 2021

By H. G. Kok

The concept of mobile crushers is not new. Since their introduction about twenty-five years ago, mobile crushers have continued to gain widespread attention. Mobile crushers reduce minerals in the open pit mine to sizes which can be transported by belt conveyors thereby reducing or eliminating the need for truck haulage. Truck haulage is costly, often representing as much as 50% of the total mining cost. More than 80% of the cost of truck haulage is for fuel and lubricants, tire replacements, and operators&apos; wages, and it can be anticipated that the cost of these items will continue to increase at a steady pace. Compared to truck haulage, transportation by belt conveyor is more energy-efficient, less labor-intensive, and less subject to inflation. Therefore, mobile crushers, used in conjunction with belt conveyor systems, offer one of the most effective available methods of reducing energy consumption and mining costs,

Jan 1, 1980

By Kirk L. Prather

Why discuss techniques of accident prod lot on? Would it not be more useful to discuss means to reduce accidents? This discussion will answer these questions by suggesting ways in which effective accident prediction techniques improve the ability to foresee and prevent accidents. Accident Prediction Process The secret to accident prediction is to utilize the tendency for history to repeat itself. The same circumstances and the same human behavior that produced accidents in the past tend to produce accidents in the present and the future. The ability to predict accident occurence in the future by projecting from the past is a statistical process. In a bookmaker&apos;s jargon this means "playing the odds" or "the percentages". A horse or a sports team may be beaten on any given day, but by skillfully assessing the factors of past performance and assigning odds, many clever bettors make money in the long run.

Jan 1, 1973

By Michael J. Friedel

As part of a study aimed at understanding the hydrology of in situ leach mining (ISLM), the Bureau of Mines, in cooperation with the Cyprus Casa Grande Corporation and the University of Arizona, is investigating dynamic transmissivity conditions during ISLM of a copper oxide ore deposit. Spatial and temporal variations in ore zone transmissivity during two years of ISLM operations at the Cyprus Casa Grande mine are evaluated during sixteen intervals of steady-state injection and recovery well operation. Direct inversion of an analytical hydrologic model is used to obtain estimates of transmissivity at 58 well locations during these intervals. Univariate statistical and geostatistical methods are used to describe the temporal and/or spatial relationships that exist between transmissivity and other ISLM parameters, including average well injection pressure, average sulfuric acid concentration in leach solution, and the relative configuration of injection and recovery wells. Average transmissivity during the sixteen steady-state time intervals varies between 6.00 x 10-6 m2/min. (6.46 x 10-5 ft2/min.) and 3.61 x 10-8 m2/ min. (3.89 x 10-7 ft2/min.). A trend toward decreas¬ing transmissivity is evident during two year of ISLM operations. This decreasing trend is found to correlate with a decreasing sulfuric acid concentration in injected leach solution, and suggests increasing geochemical precipitation within the deposit. Geostatistical analyses reveal a dynamic and anisotropic transmissivity structure within the target ore zone, that is dependent upon spatial and temporal changes in injection pressure and well configuration.

Jan 1, 1992

By Raymond A. Bradbury

Martin County Coal Corporation&apos;s operations are located on Wolf Creek in Martin County in the eastern part of Kentucky. The mining complex was started in 1971 and has grown to a 2.273 Mt/a steam coal operation. All of the production goes to Duke Power Company&apos;s Belews Creek electric generating station in North Carolina. Production comes from four seams that are mined by deep and surface mining methods. Surface mining accounts for 55% of the production and the remainder comes from 2 underground mines. Continuous miners are used exclusively underground. The preparation plant was originally designed to take coal at the rate of 907 Mt/h but that has gradually been increased to 1134 Mt/h. Other cleaning equipment includes Daniels DMS vessels, Model 77 Deister tables, 355.4-mm R. & S. Hydro- cyclones, Krebs 254-m classifying cyclones, Daniels froth cells and in 1980, 3 Krebs 508-mm heavy media cyclones were added to recover some lost and misplaced material. CMI centrifugaldryers and a Hey1 & Patterson size 100 thermal dryer are also part of the coal preparation equipment.

Jan 1, 1981

By MOHAMMED AMINE BELMI, ANAS DRIOUCH, ABDELAZIZ LAHMILI, LATIFA OUADIF

The mineral industry uses significant amounts of water in processing. Thus, sustainable practices with the processing of ores are of critical importance. An impact tester was used to measure the adhesion force between particles and a glass disk [1,2]. A removal force was caused by the impact of the disk/particle containing a puck with a stopper. Johnson-Kendall-Roberts (JKR) theory [3] was used to determine the interfacial energy between the particles and the substrate. Capillary condensation of water can occur between the particle and surfaces in humid environments. The adhesion of particles on rough surfaces has been studied previously [4-10]. The research presented herein combines both variables to separate particle types with minimal water usage.

By E. A. Metz

It has been approximately four years since the International Agency for Research on Cancer (IARC) reclassified crystalline silica as a "group one" substance. Since then, crystalline silica has been considered a human carcinogen. Silicosis is a preventable disease, and several aggressive campaigns have been developed to increase awareness of silica-dust-related problems in the industrial environment. New analytical techniques are now being developed to determine quantitatively the amount of crystalline silica in materials. Yet, still much is to be learned about the surface properties of silica and the way in which the disease progresses into full-blown silicosis. This paper discusses the interaction of free radicals generated by the mineral particles and lung tissue. It is the cell injury and DNA damage that progresses to fibrogenesis. Freshly fractured surfaces of silica contain free radicals. These free radicals play an important role in the stimulation of the alveolar macrophage and the development of the inflammatory reactions leading to the fibrotic response caused by silica. Engineers, scientists and physicians need to discuss the mineralogy of silica and the technical issues concerning the development of silicosis.

Jan 1, 2000

By M. Deniz Turan, HASAN NIZAMOGLU, Z. ABIDIN SARI, Tolga Depci

Chalcopyrite extraction in an aqueous acid medium occurs through solid transformations into distinct intermediaries. As intermediates, mineral phases CuS, Cu2 S and Cu5 FeS4 may generate in the leaching solution before CuFeS2 completely decomposes to Cu2+, Fe2+ and S0. Oxalic acid is a common organic acid, and it dissolves easily in warm water. Due to the chelating feature of oxalic acid, it hinders iron precipitation by composing soluble complex anions in a wide range of pH. In this study, recovery of copper from solid material (obtained by leaching of chalcopyrite with oxalic acid in the presence of hydrogen peroxide) with a copper oxalate structure was carried out selectively using hydrochloric acid (HCl). Selective recovery of copper by degrading the copper oxalate structure with a low-solubility product (Ksp= 4.43 × 10 −10) was performed by conventional leaching in the presence of HCl.

ABB Industrial Systems is one of the largest electrical engineering companies in the world. ABB develops, manufactures and markets electric drives. The company has more than 100 years experience in the application of medium- and high-voltage AC machines. And ABB&apos;s continuous research and development program ensures that its machines use the latest technologies and materials. Each motor is custom designed to meet specific applications. The HXR high-efficiency motors (100 to 1,900 kW or 134 to 2,250 hp at 50 Hz) are efficient and have low noise levels. Typical applications are pumps, fans, blowers, compressors and pulverizers. The enclosed units are constructed with external cooling ribs and fans. And the motors are equipped with solid, longlife stators and rigid rotor construction. The patented rotor construction provides for low vibration levels. ABB&apos;s large synchronous motors (1 to 50 MW or 1,340 to 70,000 hp up to 900 rpm) are used in the mining industry for crushing, grinding hoisting and conveying systems. These motors are designed to customer&apos;s specifications, including existing foundations. They can be equipped with fixed or adjustable speed control.

Jan 1, 1998

By I. Melik-Gaykazov, N. N. Melnikov, V. A. Fokin, S. P. Reshetnyak

Kola Mining Institute has been carrying out investigations of the possibility to steepen the walls of the Kovdor open pit with the design depth of 600 m. Steeping (up to 60°) wall angles is done by double height (24 and 30 m) benches with vertical slopes. One of the safety factors of mining with such walls is choosing the width of the safety berms preventing against rock falling from the slopes into the pit working area. The test on rock falling from 24 m benches has shown that vertical slopes are not more dangerous compared to the inclined(60-75°) ones.

Jan 1, 2003

By R. L. Morse

The thermodynamic program is similar to previous mine ventilation programs but has been expanded to consider the compressibility of air. The thermodynamic program does consider: 1) air density variations, 2) humidity changes, 3) intake, exhaust, and underground fans, 4) heat transfer between rock and air, 5) refrigeration of heating plants, both surface and underground, and 6) heat generated by equipment, both diesel and electric. 110st of the compressibility factors are handled in the branch calculations. The field survey necessary to supply-data for this program is quite similar to the basic base and leap-frog pair of stations method used with most incompressible mine ventilation programs. The thermodynamic program is a complete package of ventilation network analysis which can provide mine management with good operational control and planning of mine ventilation systems.

Jan 1, 1977

By Robert J. Henning

The term olivine was first used in 1790 by J. Werner, and the corresponding mineral was so named because of its olive-green color (Hunter, 1941). Olivine is the principal component of the rock known as dunite. While by classic definition dunite is composed of 90% or more olivine, commercial use of these terms has resulted in more specific definitions. Commercially, the term olivine is used to designate a material that consists of 85% or more forsterite and contains 45 to 50% MgO, 39 to 42% SiO2, 5 to 8% Fe2O3, and has an ignition loss (LOI) of 1 to 2%. The term dunite designates a rock that contains 36 to 45% MgO, 36 to 39% SiO2, and has an ignition loss of as much as 10% (Teague, 1983). GEOLOGY Olivine is found in basic igneous and basic metamorphic rocks whose age varies from pre-Ordovician to Tertiary. Economic deposits are of magmatic origin and are restricted to the dunite variety of the peridotite group of ultrabasic igneous rocks. Olivine also occurs in basic igneous rocks such as gabbro, basalt, and diabase and more rarely as an accessory mineral in granite and metamorphosed crystalline limestones. Mineralogy The term olivine refers to a group of orthosilicate minerals in isomorphous series with magnesium-rich forsterite (Mg2Si04) as one end member and iron-rich fayalite (Fe,SiO,) as the other. In most olivines the ratio of magnesium to iron varies from 16: 1 to 2: 1. Commercial olivine deposits contain a mixture of forsterite and fayalite with the fayalite content restricted to less than 15% (Reed, 1959; Teague, 1983). Accessory constituents may include primary minerals such as ilmenite, magnetite, diopside, chromite, and garnet and secondary minerals such as chlorite, serpentine, talc, and vermiculite as alteration products. Chemical and Physical Properties The chemical composition of olivine can be expressed as either (Mg, Fe), SiO, or 2(Mg, Fe)O.SiO,. Table 1 presents chemical analyses for some commercial olivines. The physical properties of olivine are shown in Table 2. Distribution of Major Deposits Commercial olivine and dunite deposits are found in Norway, Japan, Spain, India, Italy, the United States, Sweden, Austria, Pakistan, and Mexico. Noncommercial deposits have been reported in New Zealand, Zimbabwe, South Africa, New Caledonia, Greece, Brazil, and Canada (Teague, 1983). The present markets for olivine are characterized by low unit value, high volume, and high sensitivity to freight costs, so few deposits are commercially viable. Literature from the USSR indicates that considerable research on olivine refractories is being done. (Afansa&apos;ev, 1988), lending credibility to the conjecture that commercial deposits are being mined there. In eastern Canada synthetic olivine is being produced by calcining chrysotile asbestos mine tailings. In the United States numerous lenses of olivine extend in a belt from northeast Georgia northeastward across western North Carolina. Total reserves in North Carolina and Georgia are estimated at between 125 and 200 Mt. The largest US deposit is Twin Sisters Mountain, located in Whatcom and Skagit Counties in the state of Washington. This deposit, which has an outcrop area of 93 km2 and a relief of about 1 525 m. is estimated to contain 1 800 Mt of fresh, unaltered olivine (Teague, 1983). In addition, the US Bureau of Mines reports reserves of 50 Mt on Cypress Island in the state of Washington, and the literature reports eight complexes in southeastern Alaska, some containing cores of olivine as large as 1.6 km in diameter (Taylor, Jr., 1967). The world&apos;s largest deposit of olivine occurs in the Aaheim area of Norway, where reserves are estimated at a 2 000 Mt. Several other Norwegian deposits contain as much as 5 Mt each. In Japan the production of ultrabasic rocks is currently about 6 Mtpy, but the bulk of this output is serpentinite. Olivineldunite accounts for only 17% of this production. The major olivine deposit in Japan is located at Horoman Hill on the northern island of Hokkaido. Reserves at this deposit are estimated at 100 Mt (Anon., 1990). Spain is one of the largest producers of dunite. Reserves in the La Coruna District in northwestern Spain are estimated at 100 Mt. India, also a major dunite producer, has a large deposit at Salem in Tamil Nadu. In Italy olivine/dunite is mined from a deposit near Turin. In Sweden the largest deposit is at Arutats and is reported to be comparable in size to the Twin Sisters deposit in the United States. At present the only production in Sweden is from a deposit 30 km south of the town of Gallivare. Reserves at this deposit are reported to be between 1 and 2 Mt. Other significant deposits are: 1) in Austria at St. Stefan near Leoben, 2) in the Swat District of the North West Frontier Province in Pakistan, and 3) in Mexico at Cuidad Victoria in Tamaulipas (Anon., 1990).

Jan 1, 1994

By Alphonse C. Van Besien

It is doubtful if anyone knows precisely how many U.S. coal miners have been killed by roof falls. In 1931, 51 miners were killed by falls or rock in every 10-day period (Paul, 1). Roley (2) indicated that from 1882 to 1945, over 3,700 men were killed by roof falls in Illinois alone. During this 63-year period, roof falls accounted for 47.6 percent of the coal mine accident fatalities. Similarly, Price and Nolting (3) reported that during the 10-year period beginning in 1937, roof falls claimed over 50 percent of the lives lost in West Virginia coal mines. Over 150 miners died under fallen rock in West Virginia alone, in each of those years. Certainly, the statistics have improved over the years. The Theodore Barry Report of 1971 (4) indicated that during, the previous 4 years, fewer than 100 miners per year lost their lives to roof falls--in the entire United States. The improvement is less remarkable when it is realized that the accident rate has declined only as the number of miners employed underground has declined. The TRW Report (4) pointed out that although the number of fatalities in underground coal mining (from all causes) had been cut in half from 1956 to 1965, the fatality rate per thousand miners had remained virtually constant. The decreased accident rate was due not to a reduction in hazards but to a reduction in work force. Roof falls still claim approximately 50 percent of the lives lost in underground coal mines. Considering the increased underground production of coal which must result from our energy crisis, the environmentalists&apos; pressure against strip mining, and our inevitably diminishing supply of strippable coal, it is apparent that some means must be found to reduce the number of lives claimed by coal mine roof falls.

Jan 1, 1973

By F. G. Rinker

World demand for metallized iron continues to increase, keeping pace with steelmaking requirements for lower-cost hot metal. Virgin iron ore and in-plant oxide fines can be reduced to direct reduced iron (DRI) and hot-briquetted iron (HBI). Maumee Research & Engineering Inc. (MR&E) developed an improved coal-based process for the cost-effective production of either DRI or HBI. Starting with dry compaction, the process combines the latest technology for material preparation, rotary hearth furnace construction and environmental control. Coarse iron ore fines are blended with pulverized nonmetallurgical coal to produce a highly metallized (>90%) product. This paper presents production and installation cost data based on operating and under-construction iron oxide reduction facilities.

Jan 1, 2002

By T. J. Haddon

For the mining industry in general and gold mining in particular the past few years have been difficult. Economic conditions coupled with growing regulatory restrictions have led to increasingly important reasons for managing assets wisely. From a public company perspective this makes sense because it ultimately provides for an increase in shareholder wealth and that&apos;s what we&apos;re in business to do. Regardless of whether a company is public or not, assets must be managed effectively to remain a player in today&apos;s competitive environment. So, as the CEO of a gold mining company, how do we manage our assets to ensure that we are satisfying our obligations to our customer --the Amax: Gold shareholder? Let me tell you. As I said earlier, the gold industry has been under siege. We have just completed our third year of average prices below $400 per ounce. When you add finding and/ or acquisition costs and development costs to operating costs, there isn&apos;t much of a profit margin left. What this environment provides, however, is opportunities for growth. In the gold business, you either grow or you die. Today, most North American gold producers have at most a 10 year mine life. We are all scrambling to add reserves so we don&apos;t become extinct. As prices remain low, opportunities for increasing diminishing reserves abound. This is the time for the opportunistic company to take advantages of market conditions and that&apos;s precisely what we, at Amax: Gold, have done!

Jan 1, 1992