Search Documents

By George A. Roche

Since our firm was established by Mr. Price in 1937, we have followed an investment philosophy which is based on the belief that investment in growth stocks is the most assured way of achieving superior, long term investment accomplishment. There are many criteria that we use to select growth companies but the most important is a combination of superior management operating in an industry with above average growth potential. This growth stock approach is the cornerstone of our investment strategy for two of the three mutual funds sponsored by the Price organization and for our private clients. However, during the past 5 years we have seen inflation accelerate due to a variety of factors including the inability of our government to meet seemingly unlimited needs with limited revenue sources. While there might be temporary periods of price stability, we believe that inflation will still continue to be the investor's greatest problem in future years. Our conviction that inflation would increase combined with the acceleration of inflation in the late 1960s stimulated an intensive investment research effort, on our part, to identify those companies with strong natural resource bases -- who own or control large, secure, and low cost tangible assets. Over the longer term and in an environment of a depreciating dollar some of these firms should be able to develop and sell these assets at higher prices. While we still believe that investing in growth companies is a sound investment strategy to offset inflation, we also believe that certain natural resource companies will show well above average investment performance. In the newest Price mutual fund, The Rowe Price New Era Fund, we have, as a matter of policy, placed a large portion of the portfolio in natural resource companies.

Jan 1, 1972

By Ellis L. Armstrong

Welcome to Chicago and to the first North American Rapid Excavation and Tunneling Conference. It is a great privilege for me to serve as the Chairman of the Executive Committee of such a Conference. We are here because of the rapidly mounting interest of technicians the world over in turning the potential use of underground space into sensible and economical benefits to people. This Conference certainly provides a major forum of international importance and scope for the exchange and dissemination of up-to-date knowledge on the technology of underground excavation and tunneling. The discussions will also surely delineate the immediate and longterm challenges we must approach in multidisciplinary force. We must exercise leadership in the problems we are trying to solve. Your program shows the breadth of the technical discussions which are going to be underway here during the three days of this Conference. I am not going into technical aspects or detailed discussions of the many uses to which underground space may be devoted. I also will leave to the technical meetings the outline of the state of the art. But I do want to tell you of the progress being made in channeling the expertise of many of the world's foremost authorities on rapid excavation and tunneling to consider the problems, laying the ground work for needed research, and provide the leadership in converting unused subsurface potentials to improve the quality of life. This first conference of its kind for North America is sponsored by the American Institute of Mining, Metallurgical, and Petroleum En-

Jan 1, 1997

Canada is a major producer of chrysotile asbestos. In fact, Canada accounts for approximately one third of the world chrysotile asbestos production. Deposits are mined and the fiber processed in Québec, in British Columbia on the West Coast and in Newfoundland in the Atlantic region. Foremost among the Canadian provinces is obviously Québec. Some 85% of Canadian deliveries come from mines located in the Eastern Townships, a region which lies along the southshore of the St. Lawrence River, between Montreal and Québec City. At the heart of this vast territory, five (5) mining towns make up what is called the Québec asbestos region. Total capacity of the five (5) mining producers of Québec is about 1 366 000 tonnes.

Jan 1, 1981

By Hans Smit

The face of mining as we know it is set to change in the very near future as mining companies all over the globe realize the implications of accessing the vast mineral wealth contained on, and under, our ocean floors. With some land based mineral deposits being fully exploited across the world, deep sea mining is set to revolutionize global approaches to the search for precious metals and other sought after minerals. [ ] Previously, the financial implications of deep sea mining outweighed the benefits of access to the mineral rich deposits identified all around the world. The process of marine diamond mining off the west coast of southern Africa started in the late 1950?s by a Texan, Sammy Collins, and subsequently continued by De Beers to the present day, has proven to be an excellent proving ground for the development of technology and mining systems that ensure a sustainable and financially viable business. [ ]

Jan 1, 2008

By James F. ` King

This paper reviews the changes which have taken place in the supply of smelter-grade alumina and refinery-grade bauxite over the past twenty years. It highlights the current situation and identifies some trends which are to be expected in the medium- and longer-term future.

Jan 1, 1986

By Mark Newton Lowry

In the garden of national problems recognized by the American public, imports of mineral products is a hardy perennial. Concern for the security of mineral supplies has preoccupied nations since the industrial revolution and the mechanization of warfare. Since 1973, Americans have also been sensitized to the potential economic costs of overseas mineral supply disruptions and the cartelization of foreign production. Though oil prices have plunged since 1981, the import dependency issue remains topical. Political turmoil in Southern Africa reminds us that mineral supply disruptions will occur in the future as they have in the past. Producers of iron and steel, copper, and refined petroleum products seek protection from imports on national security grounds. The Reagan administration is proposing sweeping changes in the management of the federal mineral stockpiles. s an enduring need to take stock of the mineral trade position of the United States. This article considers the changing role that the U.S. has played in the twentieth century in non-fuel minerals trade. We begin by enunciating some principles that are useful in analyzing this trade. The changing pattern of trade in the 1900-1969 period is then reviewed. There follows a more detailed analysis of mineral trade trends in the 1970-84 period. Some consideration is given in the final section to the significance of non-fuel mineral trade for the U.S. economy. THE ECONOMICS OF U.S. MINERAL TRADE The allocation of non-fuel mineral products in the United States has in this century been accomplished primarily through the market mechanism. Except where trade barriers have distorted price signals, this means that mineral supplies have been obtained from the least cost source, with little regard for their country of origin. Mineral prices facing U.S. firms are sensitive to shifts in the domestic supply and demand, but are also sensitive to economic conditions overseas. The balance of trade in each mineral product has depended on the amount that is profitably produced and consumed domestically at the world price. The nation has produced exactly as much as it has consumed only by chance. U.S. demand for non-fuel minerals is derived from the demand for manufactures, farm commodities, and other goods whose production requires mineral products as inputs. The demand for such goods can be quite volatile, and in most industries moves cyclically due to its sensitivity to the level of aggregate economic activity. The supply of mineral products depends on the cost of extracting and processing mineral raw materials. These costs do not vary greatly in the short run. Because of these attributes of mineral markets, U. S. trade in mineral products fluctuates considerably from year to year. Most of this volatility results from shifts in domestic and overseas demand and from changes in exchange rates and trade barriers. Longer run changes in the mineral trade pattern can also be discerned. These depend on secular trends in demand and in the cost of mineral extraction and processing at home and overseas. The United States was originally endowed with extensive reserves of an array of mineral-rich ores and fossil fuels. It is also a nation with an entrepreneurial climate and technological capability conducive to extracting and processing those reserves. Not surprisingly, it has at one time or another ranked among the world's leading producers of a great many mineral products. With a population that is large and an economy that is technologically advanced by world standards, the U.S. has also been a leading consumer of mineral products. Because of its voracious appetite, the bulk of mineral products produced domestically has traditionally been consumed domestically as well. Net exports have been sizable only in those industries in which the nation has enjoyed an extraordinary cost advantage. Depletion has gradually reduced the cost advantage that the U.S. mining industry once enjoyed. The economic conditions that encouraged early development of U.S. mineral resources have

Jan 1, 1986

By Paul A. Rittenhouse

Its a pleasure to be with you this afternoon and to talk briefly on one of my favorite subjects -- the U.S. sulphur industry. As our Chairman mentioned, I have been associated with the sulphur industry either directly or indirectly for the last twenty years, both on the production side and as a consumer. Sulphur, while unseen and relatively unknown to most people, is like margarine ... that ubiquitous spread ... that is yellow and nearly omnipresent in the industrial world. It is because sulphur, in some form, is required in nearly all aspects of our economy that makes its study so interesting to me as a researcher. An analysis of the sulphur outlook requires examination of such industries as fertilizer, paints and pigments, copper and zinc, uranium, petroleum, chemicals, pulp and paper and textiles - just to name a few. Of course, because its use is so widespread and ever-changing it is difficult to develop and maintain a good understanding of the sulphur industry. It is also a problem to cover the industry in a short discussion and to project its really dynamic nature. Hut, if you will bear with me, I will attempt the task. First of all, let me say that sulphur today is a world commodity and to a large extent moves freely in world trade; nearly a third of the world's sulphur or something over 15 million tons in 1974 entered international trade. However, today our interest is in the current changing sulphur picture in the U.S., with particular emphasis on the western part of the country.

Jan 1, 1975

By Pierre M. Matheron

TRANSMANCHE-LINK is responsible for designing, developing and implementing the project for a fixed link under the English Channel, comprising two running tunnels of diameter 7.6 metres and a service tunnel of diameter 4.8 metres. The three tunnels will all be 50 km long, with 37 km bored through chalk marl at a depth of 40 metres under the sea bed. The tunnels will be driven from both sides of the channel from intermediate addits above the coastline on either side with a 55 m access shaft at Sangatte in France and two "descenderies" or inclined tunnels addits and a shaft at Shakespeare Cliff on the English side. A total of eleven tunnel boring machines will drive the 150 km of tunnels. The major part of the tunnel linings will be built of precast reinforced concrete segments, and two plants have been specially built to produce the necessary 725,000 segments. Seven million cubic metres will be evacuated on wagons along the tunnels and then lifted by belt conveyor on the English side, and by hydraulic mucking from the bottom on the French side. Preliminary work started early in 1987 with manufacture of the first boring machines, construction of five precasting plants, boring of the Sangatte shaft in preparation of the Shakespeare Cliff entrances. The principal project dates are :

Jan 1, 1987

By Ph. Vandebrouck

SUMMARY In August 1986, TRANSMANCHE LINK, a joint venture comprising the 10 companies who initially promoted the project, signed a contract with EUROTUNNEL for the design, construction and commissioning of the TRANSMANCHE fixed link for an amount of 4,5 billion dollars. On the French side, the work consists of digging three, 19km. long tunnels, of which almost 16 kms. are under the sea, up to the meeting point with the Tunnel works carried out by the British.. The tunnels are bored through chalk by 5 tunnelling machines, starting from one intermediate point at Sangatte near the coast: - Landward, they are drilled trough permeable strata of white and grey chalk. - Seaward, mainly through relatively impermeable chalk marl, but with the presence of water in faulted zones, or in grey chalk.

Jan 1, 1989

By D. John Curtis, Gordon S. Crighton, John C. Hester

The six main drives needed to build 55 miles of 4.8 and 7.7 metre i.d. tunnels in 33 months called for careful co-ordination of the design of tunnel boring machines and linings. The implications of these requirements are discussed, with particular reference to the selection of tunnel liners. The solutions adopted are detailed and details are given of the specifications and procedures adopted. The design methods employed for liners are outlined. The construction methods are described and current performance figures given.

Jan 1, 1991

By Slavko Ostojic, V. G. Hill

This paper reviews various bauxite classification schemes with respect to the differences in texture, composition and geological associations of the deposits. It demonstrates that a techno-economic classification, based on: a) associated rock type - lateritic versus karstic, b) content of aluminum ore minerals - gibbsite, boehmite and diaspore, and c) gangue minerals (iron oxides etc.) has a geological basis with natural cut-off points for the bauxite types identified. Thus, this scheme is seen as applicable to bauxite resources. It also provides a basis for their rational exploitation taking into consideration the long-term interests of both the bauxite producing and consuming countries. Against this background, the industrial mineral or non-metallurgical grades of bauxite are seen as localised and relatively rare occurrences. Their consumption should, therefore, be aimed toward the specific (hence more remunerative) products as indicated by the bauxite characteristics.

Jan 1, 1984

By Jeffery L. Kohler

The characteristics of mine airstreams, such as their magnitude in the time and frequency domain and their spatial distribution, as defined by isovels, must be considered when making a measurement. The possibility for erroneous measurements is greatly increased when fixed- point sensors for mine monitoring systems are used. However, an a priori understanding of the airstream characteristics can be used to reduce the possibility of erroneous readings. This paper describes the problem, presents data to illustrate the nature of the problem, and provides recommendations for alleviating the problem.

Jan 1, 1987

By Bruce R. Sutherland, Jim B. Ramsden, Gerry L. Bolton

Conductive metal powders are important building blocks for today's micro-electronic circuitry. Formulated into inks, they provide the interconnects needed to complete a complex integrated circuit and the means to enter the world of miniaturization. Traditionally, the inks have been based upon expensive metals such as silver, palladium, platinum and gold because of their excellent electrical conductivity and resistance to corrosion and oxidation. The use of a copper based ink, as an alternative to precious metal inks, recently has received considerable attention. Instability in the prices and limited supply of certain precious metal systems have driven up production costs, making the development of a lower cost copper system more attractive to manufacturers. However, lower production costs are on1 y real ized if performance and reliability can be maintained. While the development has been driven by cost, copper does offer some significant performance advantages over noble metal systems: conductivity as good as silver and 4W better than gold; leach resistance better than silver and equal to gold; stability at high frequencies better than gold or silver; strong film bonding characteristics; and compatibility with most solders. These benefits, however, do not come without cost. The inherently reactive nature of pure copper, while providing unique performance properties, makes it difficult to process. Unl i ke precious metals which can be fired in air, copper would oxidize and so requires special furnaces and atmospheres. Despite these difficulties, the transition from precious metal thick film systems to copper is gaining momentum. Manufacturers of high density, high performance circuitry are exploring the performance advantages of copper over gold and silver and the manufacturers of consumer products are considering the potential cost savings of copper over silver-palladium. Sherritt has developed a fine copper powder for this industry. Through association with the ink manufacturers, it has been found that performance properties of the ink vary with the physical and chemical characteristics of the powder. Production Process The production of very fine copper powders at Sherritt is based upon the disproportionation of cuprous ions as outlined in Equation [1] (1).

Jan 1, 1990

By J. S. Martin

The redesign and reinforcement of a highwall located adjacent to a $10,000,000 shopping center, destabilized by active subsidence, was conducted after an extensive geotechnical investigation. The highwall was excavated in a hillside where a coal seam had been retreat mined and augered. Engineering geological mapping, determination of the properties and behavior of the intact rock, fractured rock, and urethane grout material, and soil were required to characterize the highwall and conduct a stability analysis. Remedial measures included re-excavating portions of the highwall to reduce the slope angle, and pressure grouting of the immediate roof.

Jan 1, 1988

By Edgar W. Sawyer

Attapulgite and sepiolite are the clay minerals used to thicken ionically contaminated watzrs in the preparation of drilling fluids. They are nonsweliing clays that can be dispersed and reflocculated by mechanical means to increase the viscosity of fresh water and salt and gypsum contaminated waters. Those gelled in fresh water do not become excessively thick when contaminated with high salt concentrations or polyvalent cations encountered during drilling. Gels formed exhibit thixotropy and yield pseudoplastic rheological behavior due to the particle interactions and mechanical interferences of the flocculated gel structure.

Jan 1, 1983

By E. W. Sawyer

Gelling-grade attapulgite and sepiolite clays are employed as thickening agents for the preparation of ionically contaminated drilling fluids where the use of fresh water clays are unfeasible or impossible. Attapulgite and sepiolite are nonswelling clays that can be dispersed and reflocculated by mechanical and chemical means to increase the viscosity of fresh water, salt containing waters, gypsum contaminated waters and fluids containing cement. Such gelled systems are quite stable in viscosity properties and can be further treated with other necessary additives such as thinners, water loss reducers, weighting agents, surfactants, etc. Many of the oil well drilling fluid practices have influenced such technologies as water well drilling, foundation drilling and waste disposal. The use of salt water gelling clays in these fields will be described and compared to oil well drilling.

Jan 1, 1986

By B. Comley, M. C. Harris

There is as yet no accepted method of predicting flotation frother performance in plant processes based on laboratory scale characterisation techniques. This paper investigates the use of dynamic surface tension, using the maximum bubble pressure method, as a means of evaluating frothers and frother mixtures. An adsorption model is presented, which has been used to quantify the role of frother type and concentration during frother bubble interaction, based on the correlation of model parameters to physical frother characteristics. This approach was found to provide useful insight with respect to blending and selection of flotation frothers to meet specified flotation performance criteria.

Jan 1, 2001

By N. Agron-Olshina

The application of the QEM*SEM image acquisition and analysis system to the measurement of the mineral matter in coal and the materials in fly ash is described. A new sample mounting technique was developed using iodinated epoxy to provide a backscattered electron contrast between the coal, the mounting medium and the mineral matter. Several comprehensive and detailed species identification programs for silicate minerals and materials were developed to analyse the 1000 count x-ray spectra used for the measurements. Case studies are presented to demonstrate the capabilities of the new technique to distinguish different coals and fly ashes by their mineral and material composition rather than by conventional chemical analysis. Applications of the new technique are aimed at demonstrating that composition and size distributions obtained from OEM*SEM measurements can be used: 1. to characterize coal with respect to combustion problems in power stations, 2. to characterize coal for fine coal cleaning, 3. to characterize fly ashes in relation to problems such as erosion in combustion systems and the ease of precipitability in dust collection facilities, 4. to refine the classification systems used in marketing coal for pulverized fuel firing and fly ashes as a component of cement and building materials.

Jan 1, 1992

By Anthony Busigin, Charlett Busigin, Colin R. Phillips

For the purposes of measurement and dosimetry of airborne radon daughters in uranium mines and elsewhere, it is important to understand their physicochemical state. This work deals with the chemical fate of 218Po in air. Extensive experiments were performed to determine the rate of neutralization, diffusion coefficient and fraction born charged of 218Po in air. The experiments were performed in a specially constructed apparatus of well-defined geometry. Careful control of experimental conditions made it possible to obtain more precise and detailed quantitative data than previously possible.

Jan 1, 1981

By D. R. Nagaraj

The chemistry and structure-activity relationships for four new classes of sulfide mineral and precious metals collectors developed recently are discussed in this paper. These collector classes are alkoxycarbonyl alkyl thionocarbamates and thioureas, dialkyl (or diaryl) monothiophosphates and dialkyl monothiophosphinates. The main emphasis will be to highlight the differences between collectors and their affinities for various minerals on the basis of data on kinetics of adsorption on pure minerals, natural ore flotation and microscopy of flotation concentrates. The mechanism of interaction of these collectors with sulfide minerals is also discussed with the available data on the FTIR and solution chemistry studies.

Jan 1, 1989