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By Luke Meers

Roadway development rates in Australian underground coal mines are failing to keep pace with modern longwall systems and are unlikely to sustain further improvements in longwall productivity into the future unless step change improvements to roadway development equipment and practices are made. Bottlenecks which limit and constrain improved production and impact the safety of operators have been identified through a series of industry surveys, with the manual installation of strata support materials, consumables delivery, coal haulage and monorail installation being highlighted as major areas to improve development performance. This paper looks at research being carried out at the University of Wollongong in designing an integrated system approach for the fully automated handling and installing of development consumables, and the systems required to support these activities. A series of hard automation manipulation devices have been demonstrated in surface trials and the results indicate that rapid roadway development can be achieved.

Aug 1, 2013

By Y. Jiang, B. Li, R. Liu

"In this study, laboratory flow tests were conducted on 2-D artificial rock fracture network models containing a single intersection constituted by two inlet and two outlet branches. Three models with different intersecting angles of 60°, 90° and 120° were tested using both dye solution and distilled water. Constant flow rates were imposed on one inlet, and the flow patterns in the fracture intersections were captured by using a CCD camera. The test results were compared with the predictions made by numerical simulations that solved the Navier-Stokes equations. The results revealed that when Reynolds number (Re) is as low as less than 1, the intersecting angle has negligible influence on the flow rate of each branch and the flow patterns within a fracture intersection. As the interesting angle ? and Re (e.g., from 10 to 200) change, the normalized flow rates of different outlet branches change significantly, due to the inertial effect of fluid flow. These changes could be represented by a series of mathematical expressions involving Re and ?, which could be applied to fracture network models to improve their prediction accuracy on hydraulic properties (e.g., permeability and breakthrough curves of particles) of rock masses. INTRODUCTIONCoupled stress, flow, heat and mass transport are the corner stone subjects for many geoscience and geo-engineering disciplines, such as geological disposal of radioactive waste and geothermal energy exploitation. Many outstanding issues need to be investigated to enhance the knowledge on these subjects, and specifically more in-depth research in testing and modeling of the fluid flow in fractured rock masses is needed. In recent years, discrete fracture network (DFN) models have been extensively used to study the fluid flow and mass transport behaviors of fractured rock masses (e.g., Min et al., 2004; Zhao et al., 2011). In these models, each fracture is usually represented by a parallel-plate model, in which fluid flow exactly follows the cubic law. Therefore, comparative flow rate in each outlet branch of an intersection in these models only depends on its aperture. In reality, due to the surface roughness of fractures, the magnitude of mechanical aperture is usually larger than that of the hydraulic aperture of each fracture (Li et al., 2008; Xiong et al., 2011), and abundant flow patterns could exist in an intersection, influenced by its geometry, varying with changing Reynolds number (Re) (Kosakoswski & Berkowitz, 1999). Recent studies have also revealed that different mixing patterns might exist at a fracture intersection, bounded between streamline routing model and complete mixing model, that determine the final distribution of solutes in fractured rock masses (Johnson and Brown, 2001; Park et al., 2001). Numerical simulation has been the principal method adopted in previous studies, and the studies conducting flow tests on intersected fractures are less reported (Wilson & Witherspoon, 1976; Johnson and Brown, 2001). In this study, laboratory flow tests and numerical simulations by solving the Navier-Stokes equations were conducted on 2-D models containing a single intersection constituted by two inlet and two outlet branches, intersected at different angles. The main objective is to study the influence of intersecting angle on the flow behavior of the intersected fractures and the variations of flow patterns and fluid redistribution in each model along with the changes of the Re and the intersecting angle ?. The influence of surface roughness was not considered."

Jan 1, 2015

By S. Ando

The fatigue crack growth behavior of magnesium single crystal has been investigated, CT (compact tension) type specimens with different notch orientations were prepared. In the case of notch plane and direction are (1-210) and [10-10], fatigue crack propagates parallel to notch, From TEM observation, it is found that pyramial slips occures at the crack tip. When notch is normal to basal plane, a fatigue crack propagates [0001] and parallel to basal plane depending on stress intensity factor range, In the case of notch parallel to basal plane, a fatigue crack propagates through straight route with some {10-12} twin, Fatigue crack growth rate, da/dN of A- and B- specimen is lower than F-specimen with crack parallel to basal plane.

Jan 1, 2004

By E. M. Hillary, D. F. Sangster

"Abstract - As a contribution to the World Minerals Geoscience Database Project, an index-level database comprising information on 142 SEDEX Pb-Zn deposits and occurrences was constructed in Microsoft Access 95 format. Although consisting of only basic information, the compilation, with full referencing of all data, is possibly the largest non-corporate SEDEX Pb-Zn database in the world. It thus provides an opportunity to make geoscience queries of SEDEX Pb-Zn deposits on a scale not previously available. This report provides a summary of the results of a few such queries both as a contribution to a better understanding of SEDEX lead-zinc deposits and as a demonstration of what even such a simple database can offer.During the compilation process, it became apparent that SEDEX Pb-Zn deposits could be assigned to one of the following three sub-types: Type 1 (53.5% of total) in which sulfide minerals are the only exhalative components; Type 2 (33.1%) in which the exhalative components are sulfides plus chert, siderite/ankerite, and/or barite; Type 3 (13.4%) which contains any components of Types 1 and 2 plus abundant iron-oxide minerals (commonly magnetite) and/or is associated with iron oxide-rich sedimentary rocks.Highlights of systematic queries of the database reveal that:1. a majority (84%) of the world’s SEDEX Pb-Zn deposits are not underlain by a discordant footwall feeder zone or vent complex;2. 63.6% of deposits occur in Proterozoic strata followed by a second peak in the Devonian (16.8%). Of those in the Proterozoic, 83% of Type 3 deposits occur in the Gondwanaland supercontinent, whereas only 42% of Type 2 and 39% of Type 1 are located in this large paleo-landmass;3. median (Pb+Zn) grades in Types 1 and 2 fall between 9% and 10% with a majority clustering within this range. Type 3 grades, however, range from ~1% to ~20% (Pb+Zn) with a median of 5%; 4. median size of Type 3 deposits is ~33 Mt, whereas Type 1 and 2 median sizes are ~7 Mt and ~8 Mt, respectively.The report concludes with a brief discussion of how an index-level database such as this can be used in conjunction with other, similar databases to reveal interesting and instructive relationships for guiding both research and exploration."

Jan 1, 1998

By P. Au, P. Patnaik, H. Saari, D. Y. Seo, S. Bulmer

Ti-48Al-2Cr-2Nb-xW (where x = 0, 0.5, and 1 at. %) powders were consolidated by hot isostatic pressing (HIP). The consolidated samples were solution heat treated above the a-transus followed by stepped cooling to room temperature. Selected samples were subsequently aged at 950 °C for up to 72 hours. The post-heat treatment microstructure was examined by optical and electron microscopy. It was found that increasing holding time above the a-transus generated a more homogenous microstructure. Utilizing the stepped cooling sequence, especially with a transition temperature of 1270 °C, massively transformed gamma (Ym) was diminished. Aging caused coarsening of the fully lamellar microstructure in the 0%W and 0.5%W samples while almost no coarsening occurred in the 1 % W sample. Precipitates began to form during aging in samples containing W. The precipitates at the lamellar interfaces are fine and have a needle like shape, while precipitates at the lamellar grain boundaries are coarse and circular in shape. The size and number of the precipitates depend on aging time and the level ofW content.

Jan 1, 2006

By A. J. Baer

"DEFINITION OF THE REGION AND ITS BOUNDARIESTHE EXPOSED PART OF THE GRENVILLE PROVINCE is the southeastern part of the Canadian Shield, characterized by crystalline rocks with K-Ar ages of about 1,000 million years. Its Canadian portion is bounded on the southwest by Georgian Bay •and by Paleozoic sediments south of a line passing through Orillia and Kingston, on the southeast by the St. Lawrence River valley and the north shore of the Gulf of the St. Lawrence, on the east by the coast of Labrador and on the northwest by the Grenville front, a linear tec-tonic feature that is a metamorphic transition zone and/or a fault. Rocks located to the southeast of the front have younger K-Ar radiom€tric ages than rocks located to the northwest of it.The region is formed of complexly deformed and highly metamorphosed crystalline rocks and in part differs from other areas of the Canadian Shield by the presence of large amounts of crystalline limestone and bodies of anorthosite."

Jan 1, 1970

By V. V. Severov, Z. Lafhaj

The flotation separation of salt type calcium minerals is problematic, due to the similarities in their formation properties and the same active Ca2+ related site for interaction with anionic collectors and similar physicochemical characteristics such as solubility, point of zero charge, surface speciation, Ca-site density. The work was performed to achieve effective and selective separation of the calcium-minerals using pure minerals samples: four calcite, two fluorite, and two apatite samples. The effect of pure and mixing anionic collectors such as oleic and linoleic acid to different ratio (2:1; 1:1; 1:2) as well as the role of nonionic collectors on the selective separation of Ca minerals were studied. All flotation tests were performed in self-aspirated flotation cell. The results obtained with the blend of anionic collectors with the molar ratio of 2:1 show a separation between apatite and calcite at pH 5 and a ratio 1:2 at pH 9. The enhancing of separation contrast using the sodium silicate as a depressant for calcite and apatite is also examined as a function of oleate/linoleate ratio. Additionally, this paper discusses the enhancing of the selective separation of Ca minerals when anionic collectors were blended with nonionic reagents. The surface reactions in aqueous mineral suspensions and the adsorption of anionic collectors blended with nonionic reagents were studied by FTIR spectroscopy. An unexpected synergistic effect was observed for some ratios between anionic and nonionic reagents. The mixture of fatty acids and nonionic reagent showed very high flotation efficiency in comparison with fatty acid alone for the flotation of an igneous low-grade phosphate ore.

Jan 1, 2016

By C. Tasker

Introduction In the Early part of 1930 the Ontario Research Foundation was asked by the Minister of Mines, the Hon. Charles McCrea, K.C., M.P.P., to undertake a technical and economic investigation of the Northern Ontario lignite deposit. This investigation has been under way since June, 1930, and has necessitated considerable work at the deposit, in the laboratories of the Foundation, and at test plants in Europe. All the work has been carried out in active co-operation with the Provincial Department of Mines, the Deputy Minister, Mr. T. F. Sutherland, and several of his technical colleagues being associated with members of the staff of the Foundation on the Advisory Committee, which has met at frequent intervals to co-ordinate and direct the various lines of research. An interim report was made to the Minister of Mines by the Director of the Foundation, Dr. H. B. Speakman, at the end of December, 1932, and is at present under consideration by the Minister. This report deals with the extent and character of the deposit, the methods and costs of mining, and the methods and costs of processing raw lignite, the characteristics of certain lignite products, and the technology and economics of present fuel utilization by railways, industry, and domestic users in northern Ontario. It is not the purpose of the author to discuss in this paper either the geology of the deposit or the economics of the mining, processing, and utilization of lignite, but rather to deal briefly with some of the technical problems investigated by the Foundation during the study of the characteristics and methods of utilization of Northern Ontario lignite. Some mention, however, of the work carried out to define the extent of the deposit is a prerequisite to any discussion of the nature of the lignite.

Jan 1, 1933

By O. D. Maurice

Feldspar mining in Canada came to an end during 1972 after many years of continuous activity. The deposits are not exhausted and the domestic demand for this product is expected to continue at about the same level as in recent years. The size of the industry does not justify the installation of expensive equipment in the mills, but it is believed that a modest profit could be made by a small operation using rudimentary methods of separation. Largescale and accurate mapping of the pegmatite dykes could help in planning mining operations for a better recovery of a uniform product.

Jan 1, 1973

By Nathaniel S. Scott

Caland Ore Company Limited, a subsidiary of Inland Steel Company of Chicago, Illinois, leased an iron ore deposit from Steep Rock Iron Mines Limited on January 1, 1953.. This deposit lay underneath a lake and was covered with 161,000,000 cubic yards of Jake bottom material, mainly silt. Removal of this material was done on a contract dredging basis. This contract was divided into a plant phase and an operating phase. The plant phase consisted of supplying two cutter-type suction dredges, each with two booster pumps in the discharge lines. All six pumps were centrifugal, had 36" discharges and were powered by 10,000 horsepower electric motors. Peak demand was 59,157 kilowatts. One hundred and forty miles of steel tower line were built to bring power to the site. The balance of the plant consisted of tugs, 12 miles of discharge line, varying from 36" diameter to 42" diameter and attendant land-based equipment. A number of interesting dams were constructed

Jan 1, 1961

By D. Racicot, T. Hanel, E. H. Chown

Over thirty plutons in the Chibougamau-Desmaraisville belt were examined briefly in the field and sampled, in addition to the few masses that have been studied in detail. The survey indicates that the intrusions may be conveniently grouped in four main categories, based on their time of intrusion. These are; remobilized basement domes, pre-kinematic intrusions, syn-kinematic intrusions and postkinematic intrusions. Basement domes, as exemplified by the Lappa rent Massif, are composed of migmatized tonalite-diorite gneiss that has undergone at least two periods of mafic dyke intrusion and at least three major deformational periods. The rise of the basement domes was accompanied by extensive mylonitization and the intrusion of syn-tectonic plutons. Pre-kinematic plutons, such the Chibougamau pluton, are diori te-tonalite in composition, and were intruded into the supracrustal pile and partly eroded before the main deformation of the belt. Syn-kinematic plutons occur principally as marginal intrusions bordering the belt (Barlow), or as discrete intrusions along structural highs (La Dauversiere), and are either hornblende monzodiorite or tonalite in composition. Post-kinematic plutons, such as Muscocho, are principally granodiorite and often porphyritic intrusions locally deforming the enclosing rocks. The close relationship between mineralization and high-level intrusions such as the pre-kinematic and some of the post-kinematic plutons is discussed.

Jan 1, 1984

By J. M. Wolverton

CONSIDERABLE interest has always been taken in Safety-First and First Aid at the Sullivan mine. Even during the early days of development, Safety-First committees periodically held meetings, while lectures in first aid were given to any employees interested in the work. In 1929, a Safety Department was organized, and all accident-prevention and first-aid work was put in charge of a full-time Safety Engineer. An extensive programme has gradually been developed, the value of which can best be indicated by the reduction of the accident rate from 18.4 shifts lost per 1,000 shifts worked for non-fatal accidents and two fatalities for 1927, to 3.24 shifts lost per 1,000 shifts worked and no fatalities for 1936. SUPERVISION All work connected with accident prevention or first aid is under the jurisdiction of a central committee, known as the Accident Prevention Committee, which meets regularly once a month. It consists of all superintendents, department heads, foremen, and shift bosses, and is presided over by the Safety Engineer. At these meetings, the accident records of the previous month are reviewed and all accidents carefully analyzed and discussed. All proposed changes in the safety rules or in the accident tprevention programme are taken up and passed upon. Complaints or suggestions from the Safety-First Committee and the Employees Co-operative Committee, dealing with safety, are discussed and passed upon or a subcommittee is appointed to investigate and take any action found advisable. The question of underground ventilation and dust control, which recently has become a very important problem, always receives considerable attention.

Jan 1, 1937

By Noel W. Kirshenbaum

Difficulties and costs of transport markedly affect Canadian mineral producers because of distance from markets, weather conditions and rugged terrain. The chemical and physical nature of sulphide concentrates presents additional difficulties in handling and transport, resulting in higher costs which are ultimately borne by the mineowner. Troublesome properties include the thixo-tropic character of wet concentrates, freezing, susceptibility to autogenous heating, and fine particle size causing spillage and dusting losses. Canadian mineowners and shippers must contend with these problems and with stringent regulations governing the maritime shipping of concentrates. A "systems approach," in which complementary techniques in materials preparation, handling and transport are integrated, could reduce freight costs and losses for those selling concentrates, facilitate operations for those carrying and handling them and, in some cases, improve metallurgical processes in smelters receiving them.

Jan 1, 1969

By J. A. C. Fortescue

During the past decade, geochemical prospecting methods have become important in Canadian mineral exploration. The object of this paper is to discuss the role of geochemical methods in a typical mineral exploration program involving parallel geological and geophysical methods applied at different degrees of intensity. Particular attention is given to the description of the degree of development of geochemical prospecting under different kinds of local conditions.

Jan 1, 1967

By S. M. Grillo, Fiori. M., R. Bornioli, C. Marini, S. Fadda

Abstract - The Na-feldspar orebodies in Sardinia occur along structures belonging to a regional ENE-WSW system that developed during the late stages of the Hercynian orogeny, and that was reactived during the Alpine orogeny. The main petrographic facies include granitoids, albitized granitoids, albitites (more or less rich in quartz), and albitites containing Mg minerals. Field observations and petrological and geochemical data point toward a metasomatic origin for the albitite orebodies. Albitization involved depletion of K from K-feldspar and biotite, dissolution of free quartz, and a lowering of Sr/Na2O and CaO/Na2O ratios in the protolith, under conditions of a positive thermal gradient. The absence of later K-metasomatism implies that, during a subsequent decline in temper- ature, the composition of the albitizing fluids was modified by an influx of meteoric or other waters.

Jan 1, 1996

By Lauri Gregg

The implementation of Energy Management within the global mining industry has advanced significantly during the past 20 years. Consequently, the industry?s knowledge of energy efficiency improvement opportunities, more energy efficient technologies, renewable energy technologies, energy procurement practices, and most importantly, practical approaches for integrating the energy management best practices into business processes and operational procedures has improved greatly. Based on 25 years of experience leading the management of energy in mining operations and the Canadian mining community, the author discusses the key building blocks in the evolution toward becoming an energy efficient mining facility. Sustainable energy management depends on the internalization of the behaviors related to the effective energy use by a mining organization. The paper outlines the typical business drivers that stimulate top management commitment to allocate the resources necessary for this to happen. It also explores the barriers that mining companies must overcome to maintain the commitment. Additionally, it will advocate the need for the application of the principles of organizational change management as part of the energy management implementation process. The question regarding how energy management can be made to happen in a way that is practical for an established organization is answered by providing the details of the framework for energy management, the methodology for controlling energy use, and the roadmap for integrating energy as a key business parameter and production process input variable. An Energy Management System standard developed within the Mining Association of Canada?s ( MAC ) Towards Sustainable Mining ( TSM ) initiative has played an important role in increasing the capacity of the Canadian mining industry to manage energy. The impact of the application the MAC TSM Energy/GHG Management Protocol by Canadian mining companies will be discussed. In June of 2011, the international ISO 50001 Energy Management Systems standard was finalized and published for use. The structure of ISO 50001 will be outlined along with its applicability to the mining industry. Opportunities for practically improving mining energy performance along with the most appropriate current new technologies will be identified. A brief discussion of case studies will be included that demonstrates the successful implementation of Energy Conservation Measures ( EAC?s ) and economic benefits. In conclusion, thoughts on important areas of research and development related to increasing mining energy efficiency will be provided.

Aug 1, 2013

By S. M. Grillo, M. Fiori, R. Bornioli, C. Marini, S. Fadda

The Na-feldspar orebodies in Sardinia occur along structures belonging to a regional ENE-WSW system that developed during the late stages of the Hercynian orogeny, and that was reactived during the Alpine orogeny. The main petrographic facies include granitoids, albitized granitoids, albitites (more or less rich in quartz), and albitites containing Mg minerals. Field observations and petrological and geochemical data point toward a metasomatic origin for the albitite orebodies. Albitization involved depletion of K from K-feldspar and biotite, dissolution of free quartz, and a lowering of Sr/Na2O and CaO/Na2O ratios in the protolith, under conditions of a positive thermal gradient. The absence of later K-metasomatism implies that, during a subsequent decline in temperature, the composition of the albitizing fuids was modified by an influx of meteoric or other waters. Copyright © 1996 Canadian Institute of Mining, Metallurgy and Petroleum.

Jan 1, 1997

By Gurupraveen Ramanathan

Slot raises are relief holes within a stope in longhole stoping methods, designed to provide a free face that facilitates the expansion of the blasted rock during blasting, ultimately achieving the desired fragmentation. Various methods are employed to produce these slot raises, like conventional drop raise drilling, raisebore & V30 drilling. However, slot drilling is generally characterized by high costs and limitations in precision, resulting in unplanned ore losses and dilution. This paper introduces a novel alternative to slot drilling referred to as the "paste slot", designed specifically for paste backfill operations in underground mining. This new method emphasizes considerations in cured paste strength, paste wall removal, and stope dimensions and employs modified drop raises or dumped rings to optimize blast gas effectiveness and material flow. The paste slot method eliminates the need for reamers and reduces the total slot drill meters an average from 650m to only 300m for narrow stopes (3-4m wide). This significantly reduces the stope cycle time, leading to substantial cost savings and increased productivity. This new method was successfully implemented at the underground mines in Canada and Australia, resulting in a 20% reduction in stope cycle time and cost savings of 53,000 USD per slot compared to the conventional slot. This paper discusses the design and execution strategy of the paste slot method in underground paste backfill operations. It highlights the advantages of the method, shares operational insights gained during implementation, and showcases its potential applicability to other mines across Canada and globally.

Oct 1, 2024

By Pierre Giasson

"Les avantages de l'électricitéLe thème de la réunion 1982 de l'ICM District No. 2: "" Le défi des années 80 pour l'industrie minière de la Côte-Nord"" exprime trè s bien la réalité . En effet, la récession économique qui touche présentement tout le monde industrialisé, frappe de façon particulièrement sévère le marché du fer et de l'acier. Il est donc primordial pour les industries minières de la CôteNord de minimiser leurs coûts de production. Comme on sait, une bonne part des coûts de production est directement reliée à la consommation d'énergie.Si on retourne en arrière de quelques années, les prix des produits pétroliers étaient beaucoup moins élevé s que maintenant . Par exemple: A Philadelphie, en janvier 1930, le prix de l'huile no. 6 (bunker C) était de 1.22$ le baril. En 1940, le prix mondial du pétrole brut se situait aux environs de 1.80$ le baril et augmentait très lentement jusqu'en 1973. A la mi-octobre 1973, l'organisation des pays exportateurs de pétrole (O.P.E.P.) surprend le reste du monde en annonçant que le prix du brut grimpe à S.12$ le baril. .. on connaît la suite.On sait qu'au point de vue énergétique, le nord du Québec est l'une des régions les plus avantagées au monde. Malgré le fait que notre climat soit plutôt défavorable, nous sommes assurés d'une alimentation électrique à toute fin pratique éternelle, contrairement aux autres régions du globe. En effet, l' hydro-électricité ne représente que 2.S070 de toute l'électricité produite dans le monde.Une bonne partie de l'énergie consommée dans les industries minières de la Côte-Nord est utilisée pour produire la vapeur. Or, il y a plusieurs avantages à produire de la vapeur à partir de l'électricité:1. Le prix d'achat d'une chaudière électrique peut être moins de la moitié de celui d'une chaudière à carburant fo ssile.2. Le prix de l'électricité est plus bas que celu i des autres sources d'énergie disponibles dans notre région.3. Hydro-Québec offre un programme spéci al de subventions et un prix garanti de l'électricité, inférieur de 10070 à celui de tout autre combustible (1982).4. Souvent il est possible d'utiliser l'énergie hors pointe à un coût minime.S. L'espace requis pour un chaudière électrique est beaucoup moindre. Par exemple: une chaudière d'une capacité de 120000 Ibs/hre ne demande que SO pi? de plancher, c'est-à-dire un cercle de 8 pieds de diamètre comparativement à environ 600 à 700 pi2 pour une chaudière au ma zout.6. Aucun espace n'est requis pour l'entreposage du carburant.7. Aucun espace n'est requis pour la cheminée.8. Il n' y a que très peu de pièce s mécaniques, donc ces chaudières demandent très peu d 'entretien .9. Les chaudières électriques ne génèrent aucune pollution, donc on n'a pas besoin d'équipement coûteux de contrôle de la pollution.10. Ces chaudières sont extrêmement rapides. En effet, on peut passer de zéro à la production maximum en moins d'une heure si la chaudière est froide et en quelques secondes seulement si la chaudière est à sa température d'opération.11. L'efficacité de ces appareils est au moins de 9S% par rapport à 80-8S% pour les chaudières au ma zout. De plus, cette efficacité demeure la même quel que soit le niveau de production de la chaudière. Il faut faire attention ici: les manufacturiers proposent des rendements de 99% et plus, mais ceci ne tient compte que des pertes de chaleur à travers l'enveloppe, et de l'énergie nécessaire au fonctionnement de la pompe de circulation. Il faut ajouter à cela l'énergie perdue à cause de la vidange qui varie selon le type de chaudière et selon la qualité de l'eau d'alimentation.12. Ajoutons simplement que ces appareils sont très facile à opérer du fait qu'il n'y a aucun système complexe à manipuler.Cependant, il y a un inconvénient non négligeable à utiliser l'électricité comme source d'énergie: comme on ne peut pas emmagasiner l'énergie électrique, nous sommes à la merci du fournisseur."

Jan 1, 1985

By A. W. White

Introduction To discuss all the technical details of incorporation laws, security laws, underwriting procedures, codes, and ethics-as laid down by varous associations -would be impossible in the time which has been allotted to me. My remarks, therefore, will be made in a very general way and will naturally be coloured with experiences which my firm and I have had. There is a common expression that "money makes the mare go". I hardly have to mention here that the best prospect in the country is of very little value unless its prospects can be developed-and this requires large capital expenditures. The art and problems surrounding the raising of this money is a long and interesting story. Since by its very nature mining is risky, the appraising of its risks in the many phases of its development programme is continuous. Very few men-if any-and very few corporations -if any -can afford to take all the risk of mining. Because of taxation policies-and the very scheme of present-day living -the truth of this statement can be seen throughout the whole industry by a close examination of the records. Since this is so, it is essential that the mechanics of distributing risk on a sound, and equitable basis be known to those engaged in the business and to the investor or spectator who proposes to risk his funds in the industry. Perhaps the greatest stimulant to modern business activities has been the creation of corporate bodies. It is evident, from the number of charters being granted by various jurisdictions, that this method of doing business is becoming more and more important. A limited company -or corporation-can be defined as a fictitious person existing solely in contemplation of the law.

Jan 1, 1951