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By Boris CARO VARGAS, Bernard Theron

"In early 2014, Nicholson Construction Company was awarded, together with its tunneling sister company Bessac, the Norris Cut Miami Tunnel Project. The 2.5-meters diameter segmental lined tunnel, 1600-meters long, is aimed to replace the existing 54” force main connecting the Waste Water Treatment Plant (WTP) on Virginia Key to Fisher Island. To overcome project challenges such as the highly permeable limestone of the Fort Thomson Karstic Formation (one of the most permeable formation in the World), the project team has developed State of the Art solutions: The TBM was launched with pipe-jacking technique for the first 70-meters and then converted to segment erection mode. It allows substantial schedule savings and drastically reduces the size of the circular launching shaft. The TBM, jointly designed and manufactured by Bessac and Herrenknecht, can convert from slurry to EPB mode within a few minutes. The cutters can be replaced by wet divers thanks to an innovative application in the TBM industry. PRESENTATION OF THE PROJECT The aim of this project is to replace the existing 54-inch force main pipeline which transmitted all sewage collected from Miami Beach, Surfside, Bal Harbour, Bay Harbor, North Bay Village and Fisher Island to the Central District Wastewater Treatment Plant (CDWWTP) to Fisher Island. The existing pipeline consisted of pre-stressed concrete cylinder pipe which is in poor condition in a number of locations and could be subject to sudden failure. An adjacent portion of this existing force main under the Government Cut (North Fisher Island) has already been replaced as part of a previous design-build contract and involved the installation of a 60-inch diameter fiberglass-reinforced mortar pipe installed inside a micro-tunneled casing."

Jan 1, 2016

By Pascal Deschamps

"INTRODUCTION During the last decades, many underground facilities for the storage of hydrocarbons have been excavated worldwide and the technology is fully mature. Similarly to other underground structures, the initial basic design has to be adapted along with the work progress, in order to cope with the actual site conditions and in particular the geology, hydrogeology and associated rockmass quality. In addition, Client’s or underground Contractor’s constraints (such as resources availability, schedule or cost impact) may vary from design to construction and require last minute adjustments. Engineers are required to introduce flexibility and anticipation of unexpected situations (similar to the above-mentioned) while conceiving large underground facilities. Although most of the cases require only minor adaptations, crucial parts of the facility have sometimes to be considerably modified and reviewed. This article will present four cases evidencing how the design of one of these essential structures - the concrete plug – has been adjusted during site implementation without impairing the initial performances. Hydrodynamic containment The product containment of the unlined caverns discussed here is ensured by the principle of hydrodynamic containment. A permanent water flow is naturally or artificially maintained with an orientation toward the storage cavern and then, neither product-tight membrane nor lining are required. The hydraulic gradient (and the associated water flow lines), being directed from the surrounding mass toward the cavern, prevent from outward migration of the product. If the hydraulic gradient is not sufficient or if the water table is evidencing instability, water can be artificially injected into the rockmass through purpose-built boreholes, drilled from dedicated galleries. This water injection system, called the water curtain, is generally located several tens of meters above the level of the cavern. This principle is illustrated here after."

Jan 1, 2016

By D. E. Larson

The U.S. Bureau of Mines has developed a image analysis methodology to correlate the energy consumed during the grinding of an ore to the mineral liberation achieved. Energy consumption values are obtained using a laboratory-scale ball mill equipped with a torque sensor, and an automated image analyzer is used to determine the liberation present in ground products. By combining liberation information with energy consumption data an appraisal can be made of the energy required to liberate the mineral(s) of interest. Results of tests performed on a complex sulfide material determined the effects of grind duration on the liberation achieved and the energy efficiency.

Jan 1, 1995

By D. S. Kimbal

The McCoy/Cove mine is located 48 km (30 miles) south of Battle Mountain, Nevada, USA, in the Fish Creek Mountains at an elevation of 1548 m (5080 ft), see Figure 1. Joseph H. McCoy first discovered gold at this location in 1914. This discovery led to the Gold Dome Mine which produced the first gold from this area in 1928. After the Gold Dome era, the land remained relatively dormant until Houston oil and Minerals Corporation purchased the claims from the Summa corporation and defined an ore body at the present day McCoy pit. In 1986 Tenneco Minerals (formerly Houston oil and Minerals corporation), sold the McCoy mine and adjoining claims to Echo Bay Minerals corporation. The Cove ore body was discovered soon after the sale to Echo Bay. Echo Bay expanded the heap leach operation and built the present mill which began processing ore in the fall of 1989.

Jan 1, 1993

By Harry Leslie Bullock

With silica making up more than 27% of the earth's crust, its oxides amounting to more than 59% of the igneous rocks and quartz the most prevalent of the main free oxides, it follows that the mining engineer' is in constant contact with quartz, mainly as a gangue material to be removed as completely and economically as possible and sometimes as a valuable mineral to be purified' for the chemical,, ceramic or glass industries. Water scarcity under desert or semi-arid conditions, dwindling water supplies and difficulties of wet waste disposal in many locations and trouble from freezing in arctic locations make dry benefication more and more desirable. Advances made during the last few years in apparatus and methods and a steadily increasing knowledge of solid state physics are widening the field open to the economical application of electrostatic separation.

Jan 1, 1967

By J. Rostami, P. P. Nelson, A. Khetwaln

Tunnel boring machines (TBMs) can be considered as the method of choice for tunneling in many projects due to the high level of efficiency and high potential productivity, safety, and applicability in a variety of subsurface conditions. The muck transportation system in a TBM tunneling operation plays a significant role in the process and impacts the overall performance of the machine. This paper introduces a recently developed method of simulating TBM operation through discrete event simulation (DES), which allows for tracking of the various activities, incurred downtimes in the operations, and overall machine utilization. The study presented here compares two different muck transportation systems, conveyor and rail, under similar geological conditions to quantify the impacts of the choice of muck transportation systems on machine utilization. The results show the applicability and extent of redundancy in the use of the two systems relative to machine capabilities and their sensitivity to geological conditions.

Jun 13, 2021

By L. M. Yokum

Tremendous strides have been made in front end loaders in the last fifteen years. Fifteen years ago a 2; cubic yard front end loader was the largest standard machine you could purchase. Today there are two commercially available 15 yard front end loaders and many 10 yard front end loaders. The estimated total worldwide market for all front end loaders over one cubic yard has increased to over 30,000 units yearly. The trend for front end loaders, in general, and for the mining market, in particular, is to larger and larger loaders. Today there are 18 cubic yard and a 24 cubic yard front end loader in prototype form. It is not inconceivable that within another fifteen years that there will be front end loaders in the 50 cubic yard class with design features quite different from today's. These larger loaders are being designed at the demand of the mining industry and the design criteria are being directed at this market area. The costs of these larger loaders will be greater per unit of capacity, and it is the intent of the various manufacturers that they will be more reliable, be easier to service, give greater availability, live longer, and cost less to maintain, than previous loaders. It is also the intent of the manufacturers to compete directly with the large mining shovel as the front end loaders become appropriately larger and more reliable. There has been some trend in this direction in the past with smaller shovels and loaders. In Figure No. 1 are data for U.S. production of front end loaders (5-6 cubic yard class and 10 cubic yard class) and U.S. production of cable operation, crawler mounted power shovels, draglines and cranes (1; to 5 cubic yard class) for the years 1965 and 1970. (Source: Bureau of Census, U.S. Department of Commerce.)

Jan 1, 1972

By S. C. Gambrell

The practice of roof bolting in world-wide mining activities is very well known, having been used extensively for over 50 years. The theory of roof bolting, however, is extremely complicated, and only recently have investigators attempted to explain the theory. Discussions of the mechanics involved usually originate with actual experience gained in the use of roof bolts. The use of roof bolting in mines has grown dramatically during the period after World War II. Other scientific techniques have emerged in mining research in the same period. Included in these techniques is the study of rock mechanics, which has now developed into an impressive research effort. Various means of analysis have been utilized in rock mechanics, most of which reduce rock to an isotropic, homogeneous medium that could be easily analyzed. Because of the inherent nature of rock, direct research methods frequently are not certain to provide satisfactory results, whereas indirect methods must idealize a given set of conditions in order to be useful. One of the indirect research methods is the photoelastic technique, the theory of which is widely known and needs no elaboration. This technique has been used extensively to examine the state of stress around underground openings of various shapes in certain types of strata, and under various configurations (1,2,3,4,5). Much of the theory used now in the design of underground openings is based on photoelastic evaluation. Unless rigorously applied, how- ever, the photoelastic technique is at best a qualitative means of evaluation. It is useful, however, for unusual examples which can be more or less easily analyzed to obtain the overall state of stress which could not be determined by other means. Little work has been done in the photoelastic analysis of rock bolting, mainly because direct research techniques have proven useful.

Jan 1, 1970

By John P. Capp

In recent years limited markets have been developed for fly ash, the dust removed from coal-burning powerplant stacks, but most of it is still dumped in spoils areas at a cost ranging from 20 cents to $1.75 per ton. Aside from this cost, the creation of huge spoils areas can present a considerable aesthetic problem. Since the present annual fly ash output of about 20 million tons will probably reach 30 million by 1970, and because satisfactory disposal areas are becoming more limited, markets for much larger quantities of the waste are needed to keep disposal costs from becoming a significant economic factor in coal-burning powerplant operation. Current stress on air-pollution control and beautification, plus the vital need for good powerplant economy, makes it imperative, therefore, that coal producers and consumers expand markets and develop new applications for fly ash. Markets for established uses can be increased by making a greater effort to sell fly ash. New large tonnage markets for fly ash should be sought via more intensive, coordinated research. The economics of fly ash utilization underscores the vital role that must be played by research. To be competitive with other products, processes for the conversion of fly ash into marketable materials face difficulty in regard to two important economic factors--transportation cost and product utility--the other economic factors are favorable. Raw material costs of fly ash, for example, are quite attractive, and supply is no problem because there are many coal-burning powerplants in operation and many more are planned. Demand for products made from fly ash will grow if their utility is established and a good sales program is initiated. The major problems then are transporta¬tion costs and development of useful products.

Jan 1, 1966

By Ian Sheppard, Kugan Kuganathan

The Mount Isa Rocky Paste Fill (RPF) was one of the five fill options investigated for the Enterprise Mine filling between June 1996 and September 1996. Co-disposal of deslimed cemented tailings (CHF) and suitably graded rockfill (RF) in certain ratios produced the rocky paste fill. The RPF behaved like a cohesive paste with very high proportion of rockfill in the mix. Several large-scale mixing trials and drop tests proved that the rocky pastefill results in a homogeneous fill mass after placement. Segregation of RF was a common problem with MIM's traditional cemented rock fill (CRF), which is a combination of CHF and RF. The segregation was eliminated and a non-segregating paste like fill was created by optimising the particle size distribution of RF, and combining the RF and the CHF in optimum ratios. In rocky pastefill, the excess water in the cemented deslimed tailings slurry is taken up by the rockfill as the surface moisture on the rockfill particles and also as pore water between the particles. This results in thickening of the CHF, and the resultant mix is a non-segregating cohesive paste, which can easily spread to any horizontal distance inside a stope at a very low surface angle. The rocky pastefill releases no free water and relatively more pervious than the standard CHF due to rockfill component. With an average cement addition of 1.5 to 2% the rocky pastefill can develop higher strengths over 1Mpa. The rocky paste fill is applicable in many situations and can accommodate a variety of coarser materials that would be available in different mine sites. This paper present the research work and the experience associated with the rocky paste fill, and gives clear design principles for any potential users.

Jan 1, 2001

By John G. Hall

Everyone forms his own mental picture when the subject of copper is mentioned. To an architect, copper is a warm, enduring metal with a quiet beauty; to the historian, man's first metal; to the product engineer, the best electrical and thermal conductor of all commercial metals; to the investor, a volatile stock; to the speculator, the daily price quotation; to those in the mining industry, the challenge of producing copper for rising needs in the face of rising costs and lower grades of ore. At this meeting, we will look upon copper as a key raw material in industry, in national defense, in technology, in world trade, and as a principal commodity in the economies of several developing countries. As miners, and most of us here are miners, we are prone to view our role as suppliers of copper. We locate, mine, smelt and refine the metal. In the complexities of today's world, however, following a period of the longest domestic copper strike in history which caused critical world-wide shortages and widely fluctuating prices; it becomes necessary for all of us to concern ourselves with the whole spectrum of copper affairs -"from mine to consumer " But first we need to look at the miner's side of the picture -- capacity and production. We will examine these functions in terms of the whole world -- not simply the free world. Nature did not endow all regions of the earth equally, and copper in world trade has a way of ignoring political boundaries. Science and technology, as well, know no national boundaries. It is said that the "Engineering & Mining Journal" has as many readers in the Communist World as in the Free World. Nor is this a one-way street. We presently have available to us in the. U.S., cover-to-cover translations of many Communist World mining and metallurgical journals.

Jan 1, 1968

By T. E. Kobrick

When Ralph Banks called and asked if I would agree to present a paper on environmental health in the coal industry, I was reluctant because I have not been actively involved in coal mine dust control on a day-to-day basis for a number of years. Ralph reminded me that I am one of the few industry people with an industrial health background who remembers the pre-1969 Federal Coal Mine Health and Safety era. This marks the second time within the past year that I have had a similar request based on the same basic reasons. While I was pleased to have been remembered, I'm beginning to feel like the football player who has played one too many games. In responding to Ralph's request to present an overview of the past, present and future of environmental health in the coal industry, I have attempted to take the broad approach of someone who, having been intimately involved in an area of endeavor for a number of years and then leaves, has an opportunity to revisit that area at a later date to see what has changed and what remains the same, what have been the successes and the failures. Since none of us can foresee the future, trying to project too far ahead is fraught with frivolity, except that unless one is foolish enough to accept a future invitation to review those predictions compared to actual events, no one will recall how accurate or inaccurate those projections might have been. I can assure you that I will not ask to accept that challenge, so you can rest comfortably that five years from today you will not be asked to sit through a similar presentation by me - and that's a promise.

Jan 1, 1985

By Peter Zhang, Daniel Su, Bo Hyun Kim

Shale gas wells drilled in longwall chain pillars are influenced by longwall mining. Longwall mining on each side of the chain pillars can create overburden movements and induce deformations in gas well casings. If the deformations result in a casing breach, intrusive shale gas could leak into the longwall mine with serious safety consequences. This study concerns five shale gas wells in the chain pillars between two adjacent longwall panels in the Pittsburgh coal seam under a cover depth of 670 ft and a mining height of 7 ft. The gas wells were constructed with typical casing design, but a casing cementing alternative with uncemented production casings was practiced. Four production casings were uncemented, and one production casing was unintentionally cemented with good quality cement to a 535-ft depth and low-quality cement stringers from a 444- to 535-ft depth. The longwall faces passed by the shale gas wells as each adjacent longwall panel retreated. Production casings were surveyed by a multi-finger caliper after each panel was mined. No deformation was detected in the four uncemented production casings, but small deformations were detected in the partially cemented production casing. The maximum measured deformation in the cemented production casing was 0.05 in. after first panel mining and 0.06 in. after second panel mining. The casing deformations were also predicted by the FLAC3D model set up on site-specific overburden geology. The predicted deformations were in good agreement with the measurements in terms of deformation locations and magnitudes. All five shale gas wells resumed normal production after being temporarily plugged during the period of mine-by. This study provides a successful demonstration of the effectiveness of a casing cementing alternative for decoupling production and intermediate casing, and thus minimizing the influence of longwall mining in the shale gas wells drilled through longwall chain pillars.

Jul 1, 2023

By Theodore M. Olson

The Washington State Highway Department consists of seven geographic dis¬tricts. District offices are located in Seattle, Wenatchee, Olympia, Vancouver, Yakima, Spokane and Bellevue. District is covered from the Spokane office, and is responsible for the six counties in the northeast corner of the state (Fig.l). It is bordered on the north by the International Boundary, on the south by the Snake River, on the east by the Washington - Idaho border, and on the west by a north-south line thru Lake Roosevelt. The landslides to be discussed in this paper are at Colfax, Washington, which is located in the southeast corner of the district. The town of Colfax is situated in a narrow valley eroded into the Tertiary volcanic basalts by the Delouse River. The valley walls are steep and generally colluvium mantled. State Highway 1°c, from Spokane to Colfax, descends into the valley from just north of Colfax on a bench cut into the valley wall. The highway department designed a widening project to increase the misting two lane roadway to three lanes, thus providing a passing lane for uphill traffic. The third lane was constructed as a cut section for the entire length. Construction excavation was begun at the top of the hill in silts of eolian origin. Proceeding downhill, excavation encountered three individual basalt flows with two zones of palagonite tuff separating them. The upper palagonite zone was dry, and excavation proceeded across this zone with no mishaps. The lower palagonite zone carried considerable groundwater. As excavation crossed the lower zone landsliding became contemporaneous with excavation, due to removal of toe of slope and saturated conditions. Remedial measures for landsliding consisted of designing shot rock buttresses across the palagonite zone and also the installation of horizontal drains to reduce hydrostatic pressure.

Jan 1, 1971

By Duluth Engineers' Club, Engineers' Club of Northern Minnesota

"The early mining of iron ore in Minnesota was carried on with the most primitive kind of tools. The pioneers used only such equipment as could be packed from Duluth through one hundred miles of forest to the first mines on the Vermilion Range and the operations were carried on with picks, shovels, hand drills and wheelbarrows, the ore being hoisted in buckets with a horse winch and carted in horse drawn wagons to the stockpile. This was about the extent of the mechanical equipment of the Minnesota iron mines in the early eighties.As soon as a railroad was pushed through from Two Harbors to the Vermilion Range the equipment began to be improved upon; wood burning steam boilers were installed and small steam puffers displaced the horse-winches, wheelbarrows were aban¬doned and small cars were introduced. Hauling the hoisted ore in wagons was discontinued and trestles were built so that the ore could be stockpiled more cheaply through the use of cars and high piles. These same stockpiles were loaded by hand into the 10 and 15 ton capacity railroad ore cars.Within a few years a marked change took place—the hand drill gave place to the air drill, such as No. 3 Rands, Ingersolls, Sargents and some Sullivans. Tramming was done by mules, the ore hoisted in. self-dumping skips, hoisting engines were intro¬duced and it seemed as though mining as a business in Minnesota had come to stay. At this stage someone conceived the idea of making the stockpile floor about three feet above the top of the ore cars to facilitate the hand loading of stockpile ore for trans¬portation. This was done through the use of wheelbarrows at first and later by using I-ton cars running on tracks laid on the stockpile floor."

Jan 1, 1920

By R. Krog, M. Valente, R. Ochsner, W. Marchewka, R. Jensen, R. K. Zipf

A tube bundle system (TBS) is a mechanical system for continuously drawing gas samples through tubes from multiple monitoring points located in an underground coal mine for analysis and display on the surface. The U.S. National Institute for Occupational Safety and Health (NIOSH), in collaboration with Signal Peak Energy (SPE), LLC, Bull Mountains No. 1 Mine, operated a TBS during mining of two bleederless, longwall panels. This paper describes the gas analysis data and its interpretation. As verified by the TBS, coal at the SPE mine tends to oxidize slowly. It was known that a reservoir of low-oxygen concentration atmosphere developed about 610 m (2,000 ft) behind the longwall face. A bleederless ventilation system facilitates formation of an inert atmosphere in this longwall gob and decreases the likelihood of spontaneous combustion. Connections of the mine atmosphere to the surface through subsidence cracks could allow airflow into the longwall gob, revive coal oxidation and increase spontaneous combustion risk. The atmospheric composition of the sealed areas was homogeneous, except in the immediate vicinity of suspected ingassing points. The TBS verified that gases within the partially sealed, bleederless longwall gob expanded into the longwall tailgate area when barometric pressure decreased. The concentration of carbon dioxide in the back return airflow at the longwall tailgate was observed to increase by a factor of three and possibly up to 10 times the typical background concentration of 0.5 to 1.0%, depending on the size of the longwall gob and the magnitude of barometric pressure decrease. TBS have the inherent disadvantage of slow response time due to travel time of the gas samples and sequential gas analyses. A TBS or similar continuous monitoring system could be beneficial in detecting and providing warning of potentially hazardous gas concentrations, if the slow response time of the system is always understood.

Jan 1, 2013

By Caelen D. Anderson

An investigation of a hydrometallurgical method for the recovery of tellurium dioxide from cadmium telluride (CdTe) thin-film manufacturing scrap was conducted. Sulfuric acid/ hydrogen peroxide lixiviation was employed to selectively leach cadmium and oxidize tellurium to tellurium dioxide (TeO2). Experimental variables included solution pH, pulp density, oxidant (H2O2) concentration, temperature, agitation rate and residence time. After one hour of lixiviation, no noticeable increase in grade or recovery occurred; thus, all experiments were performed for one hour. Leaching results showed it was possible to recover at least 74% of the tellurium, while producing a 98% pure TeO2 product. Additionally, an apparent activation energy value of 12.1 kJ/mole (2.9 kcal/mole) was determined. This value, along with results from agitation rate experiments, indicated the reaction was primarily controlled by diffusion through the product layer. During lixiviation, partial dissolution of tellurium proved inevitable. Thus, a second step: ammoniacal precipitation was introduced to recover the aqueous tellurium as a precipitate. A statistical experimental design (DOE) was used to identify the significant effects from the residual effects. Experimental variables included precipitation pH, temperature, initial tellurium tenor and agitation rate. Precipitation results showed that it was possible to produce a low-grade (46% Te) precipitate, while recovering 98% of the aqueous tellurium species. The precipitation pH and temperature (°C) were determined as the significant effects for both the grade and recovery of tellurium. Agitation rate and initial tellurium tenor were determined as the residual effects and did not influence the grade or recovery of tellurium. An illustration of tellurium recovery, as a function of the significant effects, is illustrated in Fig. 1.

May 1, 2012

By Plato Malozemoff

While this conference is dedicated to the examination of "Challenges in Mineral Processing," the broader aspect of the pursuit of this subject is Research and Development in the Mining Industry. When I was asked to speak at this symposium, I hesitated to accept. While my early schooling, training and professional occupation were in the field of this symposium, it was so long ago that I no longer feel competent to contribute anything of interest to you except perhaps for a limited historical perspective, which most of you probably already know. However, it might be worthwhile to explore the more general aspect of research and development from the viewpoint of management, as this is the stance from which I dealt with the subject for the last 30 years or so. While most managements generally have a positive view of research and development, few of the leaders in the mineral industry have actually had the personal experience of doing research for a long enough time to have obtained a full understanding and the feel for its place in the long-term technological innovation that our industry must foster. I graduated from the University of California in Berkeley with a Bachelor of Science degree and a major in metallurgy. It was during the great depression of the thirties, and it was difficult to obtain a practical job in the industry. I got a scholarship at the Montana School of Mines and received a Master of Science degree in ore dressing under Professor A. M. Gaudin, followed by another year with him pursuing research. Anyone who studied under him, or knew him well, would assert that this was a unique experience. Gaudin had a brilliant mind and a profound respect for science and the scientific method. He wished to know the scientific basis for every new technological appli-

Jan 1, 1989

By Kang-Hyun Lee, In-Mo Lee, Byung-Kyu Kim, Parkm Jinho, Seoung-Won Lee

"In this study, the TBM Resistivity Prediction (TRP) system is developed for predicting the location, thickness, permittivity ratio and electrical conductivity of anomalous zones ahead of tunnel face using the measured resistivity of the ground. The applicability of the developed system was verified by performing field tests at a construction site in which an EPB-shield TBM is used for tunnelling work. In the first field test, it was found that the rock around the tunnel face had the same resistivity and permittivity with the rock ahead of the tunnel face indicating no anomaly ahead of the tunnel face. In the second test, a stronger zone 5-m thick was predicted ahead of the tunnel face based on lower permittivity than that of the rock around the tunnel face. The ground condition assessed by the newly developed TRP system matched well with that either predicted from geophysical exploration or directly obtained from drilling boreholes or from daily observed muck conditions. INTRODUCTION During tunneling work, the emergence of unpredicted zones of relatively weaker or stronger ground can lead to delays in construction work or an increase of construction cost. Predicting anomalous zones ahead of tunnel face in advance can thus prevent time and economic loss. For these reasons, various methods to predict the ground condition ahead of the tunnel face have been studied and developed. Prediction methods using various kinds of equipment include tunnel seismic prediction, ground penetrating radar, electromagnetic surveys based on electronic antennas, and electrical resistivity surveys conducted by analyzing electric currents in the ground ahead of the tunnel face (Ryu et al. 2008). However, most of the prediction methods are only applicable to conventional tunneling job sites, which feature free access to the tunnel face. In mechanized tunneling projects, accessibility to the tunnel face is very limited because the tunnel face is occupied by the TBM."

Jan 1, 2016

By Joseph G. Wargo

The purpose of this paper is to investigate trends in exploration expenditures of a selected group of mining companies for the interval 1968 through 1971. The paper also compares these trends with other financial factors that are associated with various groups of companies and comments on the implications of these trends. Although a four-year interval is hardly enough time to establish a long-range set of trends from which operating rules can be derived, the fact that the four years selected are in the immediate past gives some sense of relevance to the matter of exploration expenditures at the present time and in the near future. The sample under study here consists of 21 mining companies. Of these, 19 are listed on the New York Stock Exchange and 2 are listed on the American Exchange. Twenty are American, one is Canadian. All are fundamentally "mining companies" in that they derive the bulk of their income from the extraction, sale, and at times, fabrication of metals from their own mines. This is in contrast to companies which have mineral exploration departments but derive the bulk of their revenues from sources other than mining; for example, from oil and gas sates, Also, no companies which can be considered strictly as exploration companies are included in this study. Although this definition held up fairly well when studying this list in 1968, the strict application of this definition became more difficult through the years up to the present time. In 1971, three or four of the companies were changing their character in that they were phasing out of the mining business, and either deriving their income or planning to derive a substantial part of their income from activities other than mining. A study of

Jan 1, 1973