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Ilmenite (FeTiO3) is the primary global source of titaniumdioxide which is commonly used as a whitening agent in papermanufacture and a pigment in paint manufacture. In WesternAustralia ilmenite is processed by the Becher process (Becher,1963, Becher et al, 1965) where ilmenite particles are feddirectly into the furnace with coal and heated to form acomposite of elemental iron and TiO2. The mechanism of thecarbothermic reduction of ilmenite has been extensively studied(Grey, Jones and Reid, 1973; Jones, 1973; Grey and Reid, 1974;El-Tawil, Morse and Francis, 1993) and is reasonably wellaccepted.

Jan 1, 1997

WHILE papers on cleaning coal and mining coal were presented at the iron and steel and mining methods sessions, respectively, the first general session on coal was held on Wednesday afternoon. Howard Eavenson of Pittsburgh, Pa., as chairman of the session,* reported progress by the Committee on the Valuation of Coal for Blast-Furnace Coke. A paper on blasting coal effectively and safely in Southern Illinois, by J. E. Tiffany and S. S. Lubelsky, was abstracted and commented on by Dan Harrington, of the U. S. Bureau of Mines. W. J. German commented on some conditions mentioned in the paper as unsafe or bad practices, and added to these some further ex-amples; he made a strong plea for holes to be: drilled parallel to the bedding as the easiest way to determine the proper length or depth to agree, with the depth of kerf cut. Mr. Barron called attention to proper cutting and-drilling and rate of detonation of the explosive used, as effective aids in blasting coal. Another speaker mentioned an odd case where compressed black powder or "pellet powder," had decreased accidents at a non-gaseous mine where permissible explosives had been formerly used; the permissible cracked or shattered the roof, with a resulting high accident rate from falls of roof, and pellet black powder overcame this trouble. Eugene McAuliffe of the Union Pacific Coal Co. told of difficulties in changing from black powder to permissible in Wyoming mines. J. B. Dilworth read a paper on valuation of coal prop-erties, expressing a preference for the method of capi-talizing the earning power of a property. Eli T. Con-ner of Scranton, Pa., with much experience in valuation work, stated that the method was undoubtedly good, but many times failed because of inability to forecast accurately future earnings, and further contended that total valuation -and royalty rates could generally be fixed fairly when based on similar neighboring proper-ties' rates when these had recently been established by a free bargaining. S. A. Taylor of Pittsburgh, Pa., stated that a leasehold value could be fairly established by figuring based on 10 to 20 per cent of the profit resulting from operation. The chairman read a written discussion from Henry Louis of England, called atten-tion to differences in valuation resulting from whether gross or net profit or earnings were used as a basis for capitalizing. John A. Garcia of Allen & Garcia gave a most inter-esting account of coal mining and general conditions in Russia as noted in his recent extensive visit there, which appears elsewhere in this issue. Although agree-ing with most thinking Americans that government operation is incompatible with progress, he showed that mining conditions were far from impossible in present-day Russia. Charles E. Stuart gave motion pictures of parts of the trip, with, his own comments supple-menting those of Mr. Garcia.

Jan 3, 1928

Objectives ? New deposits can be found in mature Mining CampsNew Camps ? Volcanogenic Massive Sulfide (VMS) deposits ? polymetallicpolymetallicexamples are desirable exploration targets examples ? Genetic and exploration models for VMS deposits are robustrobust ? subtle but important differences exist between deposits and districts ? sometimes ??neglectedneglected??in resource modeling and exploration efforts ? ReRe-evaluation of a prominent existing camp is rewarding ? update on the exploration strategies currently being applied on a practical level The Falconbridge-Alexis approach includes GoCAD modelling

May 1, 2006

By D. H. Trollope

In engineering in general, close agreement between theoretical predictions and structural performance is rare—this is particularly true in rock slopes. Since the complexity of natural arrangements makes exact theoretical solutions of associated structural problems almost impossible, the role of theory should be that of developing guides or markers to which observations and experience can be related. The author in this paper has outlined the results of a theoretical study of highly idealized models which represent both granular materials and jointed rock. Some important practical considerations result—especially in regard to horizontal stresses—when theory is compared with full-scale experience. In the field of engineering activity, specific examples of close agreement between theoretical prediction and structural performance are rare. Particularly is this so for the case of rock slopes, where, owing to the complexity of the natural arrangements, it is quixotic to expect exact theoretical solutions to the associated structural problems. The role of theory is rather that of developing signposts or guide rails to which observations and experience can be related. It is with this in mind that the present paper has been prepared; the author's aim has been to set out briefly the results of a theoretical study of highly idealized models which represent both granular materials and jointed rock. Despite the idealization of the problem, it will be seen that the theoretical conclusions are in accord with full-scale experience, particularly as far as horizontal stresses are concerned, and they point to some important practical considerations. CLASSIFICATION OF ROCK SLOPES At the risk of over-simplification, an attempt has been made to classify the problem of rock slopes into three broad categories with respect to internal stress systems. These are illustrated in Fig. 1. It is tacitly assumed in this classification that the strength of individual particles is very much greater than the interparticle strength whether the particles are the crystals of an igneous rock (Case I) or the blocks of Cases 2 and 3. The Homogeneous Monolith: This case is representative of uniform unjointed rock. Under relatively low stress conditions the internal stress system may approximate to that of an elastic body as given by Terzaghi.' It is more usual, however, for overall stability, to consider the material as a rigid plastic which yields in shear when S =C + c tan 4> where S is the shear yield stress, o is the normal stress on the surface of failure, and C and d are empirical constants according to the Mohr-Coulomb criterion of failure. Sokolovsky has recently developed, for the first time, a series of mathematical solutions to problems involvinga C, mass subject to self-weight. He demonstrates that for such a case a semi-arch (Fig. 2) is stable. A corollary of this argument is that for a true C, d material a curved overhanging slope is possible and such an observation may well aid field identification of these materials. The shape of the curved slope face is however directly dependent on the C-value, and from the long-term point of view this is a most difficult value to establish with any degree of confidence. It is customary to measure C and 0 in some form of shear test—usually a triaxial compression test—on core specimens sampled from the rock, and as far as the author is aware the present case is the only one in which, as far as overall stability is concerned, such tests are

Jan 1, 1961

By R. W. Thompkins

"PREFACEThis paper will be published in three parts. Part 1, in this issue, will cover the occurrence of uranium, radiation from uranium ores, the uranium series, radioactive theory, radioactive equilibrium and application to the radon series, the working level, the theory of emanation and diffusion, transport by thermal diffusion of radon emanating from porous rocks, and definitions.Part 2, to appear in the October issue, will deal with radiation theory applied to uranium ores, other radon migration factors , fact ors affecting the radon gas release rate, measurement of radon gas emanation rates, the tunnel concept, variation of emanation rate with grade, and estimating radioactivity from grade analysis.The series will conclude with Part 3, in the November issue, which will discuss the techniques for controlling radiation and give some example calculations.1.0. Occurrence of Uranium1.0.1. Uranium is widely distributed in nature. Sedimentary rocks contain less than igneous or metamorphic rock s and as the outer 10 miles of the earth's crust is composed of 95 per cent igneous and 5 per cent sedimentary rock, it has been estimated that about 1.3 x 1014 tons of uranium exist in the earth's crust.1.0.2. It is not surprising, therefore, that radiation has existed naturally in the ear h ever since the beginning of time. It is found in such places as:(1) non-uranium mines;(2) houses not close to or connected to uranium mines;(3) ground-water tables supplying drinking water to large populations.1.0.3. All mines do not necessarily have abnormal radiation in them, but it is possible for many mines to have abnormal levels of radiation. Therefore, all underground mining operations should be tested for radiation."

Jan 1, 1982

By Deborah A. Kramer

Although beryllium was initially discovered in 1797, it was not until 1916 that the first significant quantity of beryllium metal ingot was produced in the United States. Before 1940, most of the small quantity of beryllium metal used in the United States was supplied by Germany. Beryllium was not used in its metallic form; it was used as an alloying addition to other metals, mainly copper and nickel. World consumption of beryllium at that time was estimated to be a few hundred kilograms annually. Because of increased tensions in Europe before World War II, imports of metal from Germany ceased in 1940, and domestic production was required to meet the needs of the military. As a result, by 1946, the United States became the principal supplier of beryllium products for the world, a condition that prevails today. Because of beryllium's high strength, light weight, and high thermal conductivity, it has been used in a large number of industrial and defense applications as a metal, alloy, and oxide. The United States is the only country other than China and the former USSR currently producing beryllium products from beryllium ores and concentrates. Bertrandite, mined in Utah, is the principal ore source of domestically produced products. Imported ore, mainly from Brazil, supplements domestic ore supplies. Production and consumption data for the United States is shown in [Figs. 1 and 2]. Production data for 1969-1979 is withheld to avoid disclosing company proprietary data.

Jan 1, 1994

By David Hoadley, Kenneth R. Maser, Ashok B. Boghani, James E. Billar, D. Randolph Berry, Mackenzie Burnett, Robert H. Trent

D. 1 Most Effective Salts A. Ammonium Phosphates Monammomium phosphate and diammonium phosphate (salts of ortho phosphoric acid) are superior to the triammonium salt in fire-resisting properties. Of these two, the monammomium salt is chemically the more stable. It is also held very retentively by a number of woods, thus reducing leaching out of the salt if exposed to water. Saturated aqueous solutions of mon- or di-ammonium phosphates have vapor preservatives corresponding to an atmospheric relative humidity of 9Z to 93 percent, the wood, will, therefore, not attract any moisture at humidities below this figure. Low concentrations (1 lb dry fire-retardant per cubic foot of the dry, treated timber) will stop flame and high concentration (5 lbs. per cubic foot) will prevent smoldering. B. Ammonium Sulphate In low concentrations ammonium sulphate has only a small effect on flame propagation, but its effect is marked when concentrations of the order of 20 percent are employed. It has no appreciable effect on smoldering. It is more corrosive to metals than are the phosphates, but is less corrosive than ammonium chloride or magnesium chloride. It is possible to leach it out of wood by prolonged and continuous action of water The vapor pressure of the saturated solution corresponds to 81 percent atmospheric humidity.

Jan 1, 1976

By C J. Adams, H J. Campbell, A J. Tulloch, I J. Graham

New Zealand can be regarded as a rifted part of mineral-prospective eastern Australia. Geologically credible comparisons between selected trans-Tasman and SW Pacific geological provinces and units, especially those that contain significant mineralisation in Australia, can help provide a useful exploration framework for New Zealand. As part of a six-year Mineral Wealth of NZ and its EEZ (MWE) research programme, we have targeted selected geological units in eastern Australia for comparison and contrast with their potential New Zealand counterparts. In future years, the programme will focus on geological units in New Caledonia.

Jan 1, 2005

By Byron Johnston

IN 1926 I had occasion to make numerous measure-ments with a Pitot tube. The differential gage was mounted in a box, and since the work entailed setting upon girders, staging, and flues of various shapes and slopes, much time was generally expended in getting the box blocked into the level position. This inconvenience was so considerable that I devised the gage stand shown in the accompanying illustration. The gage is bolted to the board seat, the bolt per-mitting unlimited adjustment in the plane of the paper. The seat, carrying the gage, revolves on trunnions, per-mitting unlimited adjustment in a second plane, per-pendicular to the first. Consequently, the stand may be stood up, hung by one corner, leaned against some-thing or simply laid down, and the gage levelled from any position. On uneven surfaces, where the stand naturally rests on only three of its legs, it may be swung in the manner peculiar to the tripod, bringing the center of gravity within the triangle formed by the legs, thereby providing a firm set-up. Rubber stoppers under compression were found to give sufficient friction to hold the seat in the desired position.

Jan 3, 1928

By Yi Luo

Subsidence events occurred over inactive room and pillar (R&P) mines, including abandoned mines or sealed portions of active mines, are classified as unplanned subsidence because of their timing and distribution are unpredictable. When investigating such subsidence cases, many uncertainties exist and disputes often focused on whether the observed structural damages are caused by mine subsidence or other natural or artificial causes. However, solid evidences to identify the causes are often lacking. In order to conduct a thorough and impartial investigation, good knowledge in subsidence theories a

Jan 1, 2009

By Mould GR

Gas drainage has been practiced for many years mainly for safety reasons in various countries in Europe, in the U.S.A., the U.K. and Japan. Legislation has been developed to control the production, transport- ation and utilisation of methane and associated gases. Gas drainage is now being carried out at some Australian Collieries, but as this is a new venture little specific legislation is available. This paper briefly describes the drainage methods and legislation applied overseas, gives a brief history of gas drainage in N.S.W. and indicates the deficiencies of the present legislation. It outlines the approach to new legislation which will deal comprehensively with gas drainage operations and utilisation in New South Wales.

Jan 1, 1982

By J. M. Pilcher

The application of oil to coal for-the reduction of dust has greatly increased the consumers' satisfaction with solid fuels, especially those for domestic use. The combination of oil-treated coal and automatic firing by a small stoker has made possible clean, automatic heating with bituminous coal. This, with the added pressure of competition by other fuels, has caused a rapid development of oil treating practice. A variety of materials derived" from petroleum oils is available from which one may choose for treating a par-ticular coal. Until recently, however, little information had been published to guide the choice. It is most im-portant that the proper type and amount of oil be used in order that all coals marketed as "dustless" will be reason-ably dustless, and thereby maintain a good reputation for oil-treatment. During the past two and one-half years, an investigation of a number of the problems related to the treatment of coal with oil has been conducted at Battelle Memorial Institute. This project was jointly sponsored by Bituminous Coal Research. Inc., Standard Oil Company of New Jersey, Sun Oil Company, and Viking Manufacturing Company. A progress report giving the principal results of the work of the first year was presented before the American Society of Mechanical Engineers in December 1937.1 The present paper is a summary of the entire inves-tigation.

Jan 1, 1939

By P. M. Scott

The South African Institute of Mining and Metallurgy held a colloquium on 'The Selection of Equipment for Underground Mining' in Johannesburg on 22nd September, 1982, which, judged by the interest shown, was an unqualified success. Mintek 50 As announced earlier, the Council for Mineral Technology (Mintek) will be celebrating fifty years of growth in 1984 and is organizing an international conference, MINTEK 50, on its areas of special expertise. Drilling Once again the South African Drilling Association will be holding a technical symposium in 1983. ILAFA Congresses The Instituto Latinoamericano del Fierro y el Acero (ILAFA) has scheduled the following congresses for 1983:

Jan 1, 1983

Background: Frictional ignitions continue to be a problem facing the U.S. underground coal mining industry. Many methane igni-tions are associated with the impact of mining machine cutter bits on quartzitic material (e.g., sandstone) during the coal-cutting process. Most ignitions result in small methane-air fireballs often only a few feet in size and limited to the cutter head location. However, under certain conditions, frictional ignitions can lead to larger methane explosions and/or fires with the potential for causing serious injury or death to the mining machine operator and other nearby miners. The requirements for a frictional ignition are a flammable volume of methane-air and an ignition source. This source is usually the hot streak caused by the frictional impact of the mining bit on hard rock, and the frequency of occurrence increases with increased bit wear. Another possible ignition source is the fric-tional impact of rock on rock during a roof fall.

Mar 1, 2008

In New York City, on the walls of the library of the United Engineering Societies are these words:"Engineering-the art of organising and directing men and of controlling the forces and materials of nature for the benefit of the human race," but who, reading the schedules of even our best engineering schools, would infer that engineering is an art or that it should always havejn mind the benefit of the human race? While it must be remembered that our engineering schools exemplify the British cult of the amateur, that cult which lets men who have never attended a lecture on "Education" or perhaps nevereven read a book on it, become enginering teachers by profession (and so educators by inference), the root of the matter is to be found in the fact that our educational aims, and consequently our educational practice, seem suited much better to the position engineering held in the community in 1900 than to the position it holds to-day. This civilization of ours has developed, !;loth for good and for ill, into one based largely on engineering achievement; technical progress is so continuous and so rapid that thevalue of descriptive knowledge of current practice is ever lessening; enough must be imparted to make the young graduate immediately employable, and this amount is sufficient for illustrating the principles on which practice is based and on which its advance depends, but the young graduate's technical progress depends much less on his having acquired additional knowledge than on his ability to acquire knowledge, so, paradoxically, the more useful knowledge there is availabJe the less of it the student should be taught.Less conspicuous but fully as important is the enlargement of the field of work of engineering graduates, especially its extension to the initiating of policies and to the broader problems of administration. At present the road to such positions lies normally through a considerable period of professional work, but it is by no means unlikely that the field will soon include much that requires little professional expel'ience. At all events it is safe to say that the changed. and changing position of engineering in the communitydemands the attention of the engineering schools and that profitable discussion of engineering education demands some understanding of the real nature of education and of the part which engineering plays in the life of the community.THE NATURE OF EDUCATIONUnfortunately "to educate" supplies an example of how words degenerate in meaning; most people regard it as the equivalent of "to instruct"; a small number feel they have gone to. the root of the matter when they say...

Jan 1, 1941

By John Bevan

In a discussion of the personal dangers that may arise from mine gases, it is necessary to take into consideration the gases which may result from an underground fire, or a fire in or about the downcast shaft, and the methods of avoiding or minimizing the danger arising therefrom. In all cases of the combustion of carbonaceous material such as coals and timber, carbon dioxide and water vapor are formed. In cases where the air supply is limited, some carbon monoxide is produced, the quantity varying with the readiness with which the oxygen from the air can get into intimate contact with the consuming carbon; in addition to these products there may be produced large volumes of irritating fumes consisting of unconsumed vapors' distilled from the burning material. Apart from the physical distress that may be caused by the irritant action of the fumes, the chief danger to life underground arising from a fire in or about the downcast shaft or intake airways is due to the carbon monoxide which the smoke is almost certain to contain. The physiological effects of this gas have already been discussed in mining papers and ref¬erence should be made to this. The prevention of fires at the surface near to the mouth of the downcast shaft, or in the shaft itself, or at the bottom of the shaft, usually lies outside the duties of the fireboss. An outbreak of fire at such places would, however, immediately foul the air current passing into the mine, and, assuming the men were in the mine, create a situation demanding urgent attention of the fireboss. As a rule, each case of fire creates its own problems, but in all cases the guiding principle should be to restrict the poison-laden 'air to the smallest part of the mine that is practicable, by opening separation doors, or breaking down selected stoppings at the most accessible points near the seat of the fire, so that the gases and smoke may pass directly into the return and so to surface. In the case of a shaft fire it will have the effect of fouling both shafts and in the case of a fire in an intake airway, both roadways leading to the shafts. It requires the use of some judgment. Therefore, in circumstances as to whether men inside the mine should attempt to escape to the shafts or should remain in the mine, and attempt to protect themselves from the poisonous air by suitably short circuiting the air-current and retiring from the main air-ways. In order to make such restraint easier, it is very desirable that all mines should be equipped with telephone communication from all sections of the mine to the surface so that men in the mine may be informed of what is being done at the surface to secure their safety, or instructed as to what they themselves should do. In cases of fire in or about the shafts, the question of the reversal of the air-current will probably arise. Should this be decided on by the management at the surface, the fireboss in the mine may have to give some attention to the effects which this action will have on the circulation of the

Jan 1, 1922

By Julianne H. Glarmaty, Peter J. Conroy

INTRODUCTION In 1970 the percentage of underground coal extraction by longwall mining methods in the U.S. was 2.1 percent. This figure rose to 4.4 percent in 1976 and is expected to rise to 12 percent by the year 1985. This figure represents 46.0 million tons (51.0 million st) of annual production (Kuti, 1978). In addition, OSM regulations are placing emphasis on subsidence prediction. Section 784.20 of the Office of Surface Mining regulations for underground mining permit applications requires the sutauission of a subsidence control plan which may include monitoring. Because of its nature, longwall mining does not have flexibility in leaving pillars under structures as does room and pillar. Mining in some areas, particularly in the Eastern Coal Field, is approaching more developed areas; therefore, a greater number of structures are expected to be undermined in the near future. Subsidence engineering is becoming an important aspect of mine planning, and should be directed at predicting potential structural damage. The question operators are increasingly faced with is "what will be the subsidence effects for a specific structure at a specific location in respect to a longwall panel?" The most significant variable in assessing the subsidence effect on structures is not vertical subsidence. The variables of strain and tilt are responsible for more structural damage than is the vertical movement. Table I presents threshold values of strain for various structures (Geddes 6 Cooper, 1962). Based on National Coal Board experience, horizontal strain is approximately inversely proportional to the radius of curvature of a circular portion of a subsidence profile; therefore, the radius may be useful in estimating the magnitude of strain caused by subsidence (Hoebs, 1982). The radius of curvature can be determined by the following equation:

Jan 1, 1982

The standard procedure of fire refining consists of sulphur removal via air injected through tuyeres, arsenic slagging via soda-lime flux and oxygen reduction by air or oxygen deficient air or a steam fuel mixtures. The use of porous plugs to stir with an inert gas has been mainly considered as a surface renewing agent that increases the product quality and shorten the refining cycle. In the present study the effect of the bottom stirring by nitrogen gas injection through porous plugs for the treatment of the crude copper in the range of 400-150 ppm sulphur, 3,000-2,000 ppm arsenic and 14,000-7,000 ppm oxygen content was investigated. The combined effect stirring-reducing, by the use of air or a steam fuel mixtures through tuyeres for oxygen removal, follows a kinetics of first order where the constant, K, can be represented by the following polynomial expression: K = A * R2 + B * R + C Where A, Band C are constants that depend on the nitrogen flow rate and R is the air-fuel ratio or the steam-fuel used in the reducing step. Depending on the optimization of the flow of nitrogen and the air-fuel or steam-fuel mixture and only if just the oxidation, complexing and reducing steps are considered, the process cycle might be shortened by 45%.

Jan 1, 2003

By Owen F. Jensen

CONSTRUCTION of a ground-water supply includes many operations, which do not end with completion of facilities. Evaluations must be made of the quality of water in various areas and the history of production. Following an analysis of geologic, hydrologic, and chemical data there must be an exploratory drilling program and a study of resulting information. When the well is completed a continuous survey of operating records and basic data is necessary, since designs for future wells are varied as more data becomes available for those already completed. As the following discussion must be limited to a single undertaking, the customary procedure will be outlined for development and construction of a ground-water supply in which more than three wells are involved. Parts of this procedure are applicable for all ground-water supplies. Three possible sites were selected for construction of a paper mill. The problem was that the industry daily required approximately 15 million gallons of water of the best quality available; however, if water of the best quality were not available in the desired amount, water of a poorer quality could be used up to half the required amount, about 7 million gallons. In the preliminary survey approximately 1500 to 2000 square miles were covered for each site. Collected data consisted of several hundred electric logs of oil and gas wells; reports by the U. S. Geological Survey on ground-water resources of localities in and near the area; unpublished records of several hundred water wells including chemical analyses of the water produced and drillers' logs of the wells; records of periodic water-level measurements made in observation wells by the USGS; topographic maps drawn up by USGS and by army engineers; and highway and county road maps. A preliminary report based on study and evaluation of these data was presented to the client, recommending the site with the most favorable and economical ground-water conditions. The study indicated that water of the quality and quantity desired could be developed. In this particular area there were indications that the aquifer could be separated into two zones con- taining water of different chemical character. This chemical character varied somewhat with area, but principally with depth, a factor which later proved an economic advantage in design of the well field. After studying the preliminary report, the client weighed other economic factors as well as ground-water advantages and selected a plant site. Authority was given to proceed with detailed study of the chosen area. Evaluation of preliminary data concerning the area indicated that it should be supplemented with additional information derived from actual exploratory drilling and testing. A flexible plan of exploratory drilling was devised so that data obtained as each test hole was drilled could be correlated with existing data and additional test holes could be located and drilled accordingly. Specific data to be obtained from each test hole were: samples of all formations penetrated; the driller's descriptive log of formations; electric logging surveys; one or more samples of water from selected water-bearing formations; temperature; and water levels and their recovery after periods of production. The area studied in such detail was approximately 400 square miles. Choice of location for the original test holes was based on the preliminary study. The pattern for these test holes was designed to require a minimum number of holes and to allow for interpolation of data between two, three, and four holes. Geologic, hydrologic, and chemical data gathered after completion of the first four test holes showed that the north section was the most desirable in the area, which was then reduced from the original 400 square miles to about 150 square miles for more detailed and intensive study. On the basis of findings from the current test a tentative well field was laid out and a drilling program devised. One test hole was located on the actual plant site and later developed into a small pilot production well equipped with a deep well turbine pump. Water from this well was used for general construction requirements. Another test hole drilled near the pilot production well and adjacent to the proposed route of the well-collection system was used during the pumping test of the pilot production well to determine the degree of interference. From the data thus obtained, calculations were made to determine the coefficients of transmissibility and storage. Three additional holes

Jan 1, 1955

By Armando M. Lago

This paper reviews the postwar changes that have occurred in the expenditure and financial behavior of mineral corporations, and in particular the relative importance of factors that affect the industry's supply and demand for funds. This quantitative statistical investigation of factors affecting sources and uses of funds of mineral corporations is achieved through the formulation of a simultaneous equation model of sources and uses of funds. After a description of the study sample in Section I, the postwar cyclical and secular financial behavior of mineral corporations is analyzed in detail in Section II. Section III formulates an econometric model of mineral corporate financial behavior which is then estimated and reviewed in Section IV. Section V discusses policy issues regarding depletion allowances, investment tax credits, and industrial organization of the mineral sector. Finally, the optimum financial structure of mining firms is discussed in Section VI, which analyzes the effect of corporate financial structure on the mining corporations' average Cost of capital.

Jan 1, 1969