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By Steven A. Savage

Agrico Chemical Company, as we presently know it, is the result of the coming together of several different fertilizer operations. The Williams Companies, our parent organization, first entered the fertilizer business in 1971, when it acquired the fertilizer operations of the Gulf Oil Company. This gave us, among other things, the manufacturing facility at Donaldsonville, Louisiana. In 1972, The Williams Companies acquired Agrico Chemical Company from Continental Oil Company, bringing in a manufacturing facility and phosphate mines at Pierce Florida. Our Florida Mines are in the region commonly known as the Bone Valley Region of Florida. The majority of the phosphate fertilizer produced in the United States utilizes rock mined in this region. The Donaldsonville Plant was originally built in 1967-68 on the site of the old Faustina Plantation at an approximate cost of $80,000,000. (This plant is commonly referred to as our Faustina Plant.) Until such time as Agrico was acquired from Continental Oil, the Donaldsonville Facility was solely used to upgrade phosphoric acid into finished granular products.

Jan 1, 1986

By G. S. Adisoma, J. J. K. Daemen, R. O. Roko

A common assumption in determining the shear strength of a rock joint using a direct shear test is that the surfaces undergoing relative shear are in complete contact. Furthermore, the limiting displacement associated with the residual strength values is obtained based on engineering judgement through visual inspection of shear force versus displacement curves. This study proposes a systematic way of determining the residual shear strength of rock joints by evaluating the limiting displacement leading to a minimum cohesive strength value and taking the true area of contact into account. The results of the study indicate that there is a limiting displacement associated with the residual shear strength, and some rocks may have an inherent interface residual cohesive strength different from zero. When the cohesion is different from zero, the residual shear strength is likely to be underestimated if the true area of contact is not considered. In the case where zero calculated cohesion is obtained, the area of contact has no bearing on the shear strength equation because the frictional force depends only on the normal load.

Jan 1, 1986

By R. A. Bilonick

Sampling is used in all scientific, engineering, marketing, and financial disciplines. The scientific theory of probabilistic sampling is a well established field, providing a general framework for basic methods that can be applied in fields that would appear to have little in common. The revolution in sampling occurred, in part, as a response to the need for quality control in industry during the Second World War. Since this time probabilistic sampling methods have been replacing pre-scientific non-probabilistic methods of sampling. This has not been the case, however, in the mineral industries in the United States. No general agreement on a theory applicable to all sorts of particulate materials has been reached. As a result, non-probabilistic methods are still widely used and the measurement of sampling precision - the hallmark of scientific sampling - is unknown. Much of the research on particulate material sampling that has been carried out over the last 40 years can be characterized by a lack of theoretical reasoning and rigor, an unwillingness to acknowledge previous work, and a lack of integration with existing, established scientific sampling theory. Non-standard statistical terminology is used and often standard statistical terms are misused. The confusion that has resulted is reflected in ASTM and IS0 sampling standards and in the practice of particulate material sampling.

Jan 1, 1986

By Douglas F. Stevenson

Your committee doesn't assign any easy topics to us speakers. How do you define "successful" in what is essentially a losing game? I am reminded of the fellow who returned from a one-week vacation in Las Vegas, and proudly stated, "I only lost $150." To him, that was "success." I am afraid that workers' compensation is a losing game for employers, too, and success has to be defined in terms of how much or how little is lost. We have no chance of producing a profit for our employer. We will narrow down to some suggestions about conducting a workers' compensation program at the plant level, but first I want to discuss the general legal, social and legislative climate in which your plant program operates. Workers' compensation is a statutory program with its general parameters established by the legislature. These parameters are then amplified by the boards and commissions established to administer workers' compensation. What influences the legislature and the boards and commissions as they establish the framework in which we must function?

Jan 1, 1986

By J. E. Lema

America's bulk commodity transportation systems have taken on a new look in the 1970's and 1980's. Railroad systems, barge lines providing inland and intra- coastal waterway transportation, and Great Lakes carriers have undergone substantial changes through mergers and acquisitions, consolidations of ownership and control, and construction of modern intermodal transportation facilities linking railroads and water carriers. The new look has generated some concerns and opportunities with regard to producers and shippers of bulk commodities which are characterized by the necessity of moving large quantities of heavy materials long distances. Clearly such transportation requirements call for efficient railroad and water carrier services. Shippers of commodities like coal, grain, .chemicals, minerals, ores, forest products, petroleum products, and heavy manufactured goods find reductions in transportation competition lead to concerns that rates charged by carriers will not be sufficiently constrained by market forces. At the same time, new policies on contracting for railroad services can lead to greater efficiencies, a rewarding opportunity for carriers which should be shared with shippers and consumers of bulk commodities. Then, of course, there's a related problem that in the absence of effective competition, the benefits of increased carrier efficiency will not be passed on, in part, to shippers and consumers, causing losses in markets for producers.

Jan 1, 1986

By A. L. Holmes

Since the 1981 record of 54 mm tons of US fertilizer consumption, grain surpluses in the US have brought about massive acreage reduction programs, decreased fertilizer consumption, and resulting price pressures caused by excess capacity. The strong US dollar that reduced export sales of both grain and fertilizer, and new offshore manufacturing capacity using US engineering/contracting know-how have combined to put US producers of phosphate fertilizers in uncompetitive postures. While recent events suggest the industry may be growing out of this capacity problem, the cost of US phosphates will continue to be disadvantaged by such external factors as taxes, environ- mental regulations, and high power costs. There is no reason to expect help from the government in the form of reduced environmental regulation and taxation. In order to survive, phosphate fertilizer producers will have to develop technologies and adopt strategies that result in world competitive production costs. Current responses to the need to reduce costs include reduced energy costs through cogeneration, innovative reclamation techniques that create valuable land, and in- creased raw material recovery achieved by operator proficiency. While new technology offers long-term benefits for the producer, present efforts are concentrated on more mundane management efforts to reduce costs. Major attention is being given to the problems of labor utilization and productivity. Raw materials suppliers are being asked to renegotiate contracts which more appropriately reflect conditions in an industry operating at about 50% of capacity. Achievements in these and other areas will allow the producers to continue operating until longer term benefits materialize. `

Jan 1, 1986

By Alexander Sutulov

1. INTRODUCTION According to the classical economic approach of the open market economy, copper supply should be regulated by market forces which are (a) demand and (b) prices. In fact, demand is of primordial importance because prices are a reflection of supply-demand balance: they go up in times of shortages of supply and down when over-supply situation exists. In the past few years, this basic mechanism of market economy has been under pressure from a number of non-market forces, such as social and monetary problems of sane important copper producing countries; structural changes in copper mining companies through mergers with oil companies; and other factors which greatly contributed to distortion of the basic supply-¬demand equation. As a result, we have faced in the last three years a situation of oversupply rarely seen in the past, with a catastrophic fall in copper prices, huge losses at mines and unprecedented indebtedness of copper producers. This has deep repercussions in the copper business and its future supply outlook. This is particularly so when taking into consideration that high indebtedness and high interest rates conspire against the very survival of some traditional producers. As we write this comment (July of 1985), close to one half of U.S. copper production capacity is closed down, sane of it for good, while the same precarious situation exists in Canada, Australia, Zambia, and some other primary producers who cannot face present low prices with equally low costs. The question is then what this situation means for the medium-¬term future, until the end of this decade, Particularly when taking into consideration the fact that some of the factors influencing it are of a long-term character. 2. SUPPLY-DEMAND SITUATION IN THE LAST FIVE YEARS Since the last boon year, in 1979, when world copper consumption reached a record of 9.8 million metric tons of refined copper, demand dropped to only 9.0 million tons in 1982, when the crisis bottomed out, and then steadily recovered to the level of 9.7 million tons in 1984. Meanwhile, copper production, which in 1979 was only 9.4 million tons, in spite of the fall in demand, grew to 9.7 million tons in 1981 and 1983 and only temporarily was cut to 9.4 million tons in 1982 and to 9.5 million tons in 1984. As a result of this imbalance, hugh copper stocks were accumulated with supply systematically out¬growing demand by over 2 million tons at one time. With the Western World refined copper demand running at an average of 115,000 tons per week, this oversupply was equivalent to between 15 and 18 weeks production, i.e. twice as large as normal. This was immediately reflected in very low copper prices. Another contributing factor to relatively low copper prices was the lack of speculator interest for this commodity. Between 1981 and 1984 the world experienced a very intensive period of wealth distribution, high interest rates and intensive restructuring off world economy and its industrial sector. Therefore, much of the available money was attracted to more lucrative and attractive investments rather than to the lack-luster performance of copper, and for that matter, of the metal sector in general. The much announced and discussed recovery of the U.S. economy since 1983, and particularly in 1984, with an overall growth of the GNP by 6.8% in 1984, happened to be more oriented to the service sector than the industrial sector and therefore this recovery was not adequately reflected in copper consumption nor to metals in general. This put serious doubts about the future demand for copper. Consequently copper prices failed to improve in spite of an apparent fall in stocks and a healthy increase in the demand for copper since 1982. At the time of this writing (July, 1985), although same analysts claim that the available stocks are running at about 8 weeks of supply, which are considered to be below normal, copper prices are still very low at between 65 and 67 cents per pound of copper. Part of the answer may be the normal seasonal slow-down period in the Northern Hemisphere due to summer vacations and

Jan 1, 1986

By James O. Mawyer

Fuel is a major .cost for power generating utilities. Virginia Power is completing one of the nation's largest coal reconversion programs. As a result, 10 million tons of coal will now be used at six generating stations. Four of these stations are located on naviagable waterways. They consume over half of Virginia Power's coal. Historically, railroads have exclusively served these plants. In an effort to substantially reduce fuel cost, Virginia Power has reexamined transportation logistics and is proceeding with barge delivery. A phased approach was used by Virginia Power for the transportation program. Plant requirements were first identified. Coal sourcing issues were then examined. The concept of intermodal transportation was investigated. The bottom line cost savings was used as the criteria for continuing the project. The results thus far have been gratifying. Virginia Power has begun to implement barge transportation.

Jan 1, 1986

By Kurt M. Larson

Future haulage cost projections led Foster Yeoman Limited into developing a fully mobile crushing and conveying system at its Torr Works quarry in Somerset, England. The purpose-built system has an effective throughput of 2,500 tonnes/hour and features an Orenstein and Koppel (O & K) manufactured walking frame, a Fuller-Traylor type 54 X 74 TC gyratory crusher, and unique mobile conveyor modules designed and manufactured by Foster Yeoman. Used in a single-bench operation in this 6 million-tonne per annum limestone aggregate quarry, the system is fed at the production face by 2 Caterpillar 992C loading shovels. The entire system is moved on a daily basis following production face locations.

Jan 1, 1986

By W. D. Blackburn

If there is a single key to managing a mineral extraction company, it is the control of productivity. American labor costs, in general, tend to be in the range of 10%-15% of total costs. American coal mining labor costs, however, exhibit ranges of 30%-60% of total costs. Is it any wonder that the industry finds itself at a competitive disadvantage? When labor costs take as much as sixty cents of every dollar of revenue, there is little room for profitability. The American coal mining industry must set as a long range goal the reduction of labor costs to the 10%-15% range of total costs in order to be competitive.

Jan 1, 1986

By R. M. Rowe, T. E. Irwin

A flowsheet was developed for upgrading Climax tin concentrate to about 45 percent Sn. Bench-scale test work conducted at AMAX Extractive Research and Development, Inc., was used to design a multiple-stage tin- processing flowsheet which included screening, high-intensity magnetic separation, and high- tension (electric- static) separation. Formal engineering and plant installation was accomplished in-house by Climax mill personnel. The successful start-up operation of the facility was the joint effort of the AMAX R&D and Climax-mill staffs.

Jan 1, 1986

By J. R. Arnold

The problem of recovering gold from a cyanide solution has been plaguing metallurgists since the cyanidation process was discovered in Glasgow, Scotland.1 The "perfect" method has never been found and this paper will not purport to fill that gap. But we, at Gold Fields, feel that we have developed a workable, cheap and efficient method of producing a refinery - ready product that has several distinct advantages over conventional electroplating techniques. The Gold Fields replating system is presently being used at their Ortiz and Mesquite operations. In short, the system electroplates the gold out on stainless steel wool, instead of mild steel wool as is usually done, then replates the gold by reversing the current onto stainless steel plates. By doing this the steel wool can be reused many times, the gold can be scraped off the plates cleanly and quickly, the operating costs are reduced and the slag production is greatly reduced.

Jan 1, 1986

By R. Q. Phillips

INTRODUCTION Since Canada commenced sulphur exports in the early 1960's, the volume of exports has grown steadily and by 1984 Canadian sulphur accounted for 45% of internationally traded sulphur. In 1984 a total of 7.6 million tonnes of Canadian sulphur was shipped to offshore markets and the U.S.A. Total shipments, including domestic sales, were 8.3 million tonnes. With a production of some 5.6 million tonnes, inventory was drawn down by nearly 3 million tonnes in order to keep pace with demand. Since 1979, world consumption has exceeded total world production and Canadian sulphur inventory has played a truly crucial role in balancing world supply and demand. Consequently, by the end of 1984 the Canadian inventory, which stood at 21 million tonnes in 1978, had been almost halved to 12 million tonnes. This inventory, however, is still by far the largest in the world and will continue to play a vital role in the world supply until expected depletion around 1990. Canada is the world's second largest producer of sulphur following the U.S.A.. The Current production level of between 5 and 6 million tonnes per annum is forecast to be maintained to 1990 with only a marginal fall in that production level in the following decade to the year 2000. This will ensure that Canada retains its position as one of the largest producers and most important suppliers of sulphur in the world market well into the future. CANADA AS WORLD SUPPLIER OF SULPHUR Since Canada commenced sulphur exports in the early 19601s, exports have grown steadily. (Figure 1) The rate of growth accelerated in recent years and in 1984 a total of 7.6 million tonnes was sold for export, compared to 3.0 million tonnes in 1975 and less than 1 million tonnes in 1964. World trade in sulphur also increased during this period, from 11 million tonnes in 1975 to 17.0 million tonnes in 1984 (Figure 2). Most of this increase in volume was accounted for by Canada and Poland. As a result, the importance of Canada as world supplier expanded from 28% in 1975 to 45% in 1984. The markets for Canadian sulphur can be divided into two broad categories, i.e., solid and liquid (Figure 3). The solid market is the largest, taking about 70% of Canadian output, virtually all of which is sold offshore. The U.S.A. and the Canadian domestic market take about 20% and 10% respectively, in liquid form. In 1984, (figure 4) total Canadian sulphur sales exceeded 8 million tonnes with offshore export sales at a record 5.8 million tonnes and sales to the U.S. of 1.8 million tonnes. Domestic sales accounted for only 0.7 million tonnes. The general trend for offshore export sales has been upward whereas there has been relative stability in domestic sales. The exceptional growth in offshore sales in the 1970's necessitated considerable capital investments by the industry in order to establish a logistics system capable of handling increasing offshore tonnages. Over 50 sulphur plants are currently operating in Alberta and British Columbia. Some of these are connected by rail, (Figure 5) the balance being generally connected by road. There are currently fourteen of the larger rail-connected plants designated as export plants, and these are equipped with sulphur forming facilities. The long distances between these plants and tidewater terminals in Vancouver is a very significant factor in complex logistics of Canadian offshore sulphur exports (Figure 6). Alberta and B.C. plants are located an average of 1,400 kilometers from tidewater.

Jan 1, 1986

By Collin L. Stewart

Published subsidence data for the western United States is limited in comparison with data for the east. This paper summarizes the results of a subsidence monitoring program above two longwall panels at the Foidel Creek Mine located in northwest Colorado. The monitoring area is characterized by overburden ranging from 1000 ft to 1100 ft in thickness. The surface slope parallels the dip of the bedding at approximately 5 deg. Average mining height is 9 ft. Smax averaged 3.4 ft. Draw angles averaged 15 deg for up-dip ribsides and 19 deg for down-dip ribsides. A site-specific profile function is developed from the data.

Jan 1, 1986

By Lawrence S. O’Rourke

Pricing for tantalum raw materials experienced explosive increases in the period 1978-1979, and-similar declines over 1980-1982. The causes for this are examined. Negative effects on the industry are highlighted. Analysis is provided of subsequent structural changes within the industry which minimize probability of future pricing excursions. Data on markets, sources of material, and outlines of concentration and extractive processes are reviewed. The conclusion is reached that expanded sources, future flat demand, and a broader international base of industry participants are principal forces in this restructure. Flat demand is reviewed as a function of increasing application of tantalum, but in more cost effective forms. This is driven by technical advance, notably in electronics applications.

Jan 1, 1986

By Tim Neil, O&apos

Introduction On the banks of the Columbia River, about halfway between Seattle and Spokane, sits Wenatchee, WA. It calls itself "the apple capital of the world." And it has a gold mining history that dates back to the 1880s. It was just outside Wenatchee - three blocks outside, to be exact-that Asamera recently dedicated its $60 million Cannon underground gold mine. At full production, it is estimated the Cannon mine will yield between 5 and 5.6 t/a (160,000 and 180,000 oz per year) of gold. That would make Cannon the largest North American underground gold mine to be brought into production this year. Cannon should also be among the top 10 of all North American gold producers. Asamera officials project Cannon's operating costs at about $4.8019 ($150 per oz). At that rate, the mine should also be one of the lower cost and most profitable gold mining operations in North America. One reason for low operating costs is low electric power costs. The Cannon operation will be paying about 2.5 cents per kWh for hydroelectric power supplied by the Bonneville Power Authority. Proven and probable ore reserves at Cannon are in excess of 4.7 Mt (5.2 million st). Reserve grades average 7.29 g/t (0.21 oz per st) of gold in three ore zones, in order of discovery - B, B West, and B North. The ore bodies could have been mined by open-pit methods. But underground mining was chosen for environmental reasons. In addition, the rich B North ore body extends beneath a nearby horse stable and arena. The Cannon mine area comprises some 20 km2 (5000 acres) in Chelan County. The mine site is located at the 305 m (1000 ft) elevation in Dry Gulch at the base of the Cascade Mountains. The initial estimate of mine life for the Cannon operation is eight years, depending on gold prices. But Asamera officials believe the Wenatchee area has excellent potential for future gold discoveries. Asamera, Inc. of Calgary, Alberta, owns 51% of the Cannon property, through its wholly-owned Asamera Minerals (US). Breakwater Resources Ltd. of Vancouver, British Columbia owns 49% of the operation. The Cannon mine is named in honor of longtime Asamera, Inc. executive and current company director, geologist Donald G. Can¬non. It was he who first brought the Wenatchee property to Asamera's attention and urged the company to pursue it. Asamera is a major explorer and producer of oil and gas. Its Cannon operation is the largest and most significant to date in its mining division, according to Rob¬ert G. Welty. He is Asamera's chairman and chief executive officer. It should be noted there was an element of serendipity involved in Cannon's development. The development program be¬gan when geologist Cannon visited the Wenatchee area. He was visit¬ing old mining districts. He liked what he saw. The Cannon property was eventually optioned for ex¬ploration, including a modest drilling program.

Jan 12, 1985

By Gerald C. Smith

Introduction Newmont Mining Corp.'s Carlin Gold Mining Co. mines gold ore and waste material from four open-pit mines in Northeastern Nevada. Combined production rate is 24.5 Mt/a (27 million stpy). The company is producing gold bullion from the 2.4 kt/d (2600 stpd) Carlin Mill No. 1. and the 2.3 kt/d (2600 stpd) Maggie Creek heap leaching plant. In August 1985, the 6.3 kt/d (7000 stpd) Carlin Mill No. 2 at Gold Quarry came on-line. The total combined throughput of 11.2 kt/d (12,000 stpd) will make Carlin Gold Mining one of the largest US gold producers. Feasibility studies are underway to increase the total gold out-put from Gold Quarry. This will be done by adding a continuous dump-leaching process that will recover gold from lower grade ore. History In 1961, Newmont exploration geologists located claims in the Lynn Creek mining district near Carlin, NV. An exploration drilling program revealed significant gold mineralization. A stepped-up drilling program revealed an ore body with an estimated 10 Mt (11 million st) of ore containing 109 t (3.5 million oz) of gold. Test results in 1963 allowed metallurgists to develop the flowsheet and design for a 1.8-kt/d (2000-stpd) countercurrent decantation (CCD) cyanide plant. Carlin Gold Mining Co. was formed to operate the property. Carlin purchased its first mining equipment in 1965. This consisted of two Bucyrus-Erie 2.7 m3 (3.5 cu yd) shovels and nine 27.2 t (30 st) Wabco Haulpak trucks, two Inger¬soll-Rand track-mounted drills, one Chicago Pneumatic T-650 rotary drill, one rubber tired Michigan 280 dozer, one Caterpillar D-8 36A track dozer, one Caterpillar 16 motor grader, and the necessary ancillary equipment. The fleet was capable of mining 3.2 Mt/a (3.5 mil¬lion stpy) working two eight-hour shifts, five days a week. In 1967, one P&H 1500 3.8 m3(5 cu yd) diesel electrical shovel and three 59 t (65 st) Dart trucks were added to the fleet, along with a Chicago Pneumatic rubber tire mounted rotary drill. This equipment addition increased the mining capabilities to 5.7 Mt/a (6.3 million stpy). Three separate pits, the Main, East, and West, within a 1.6-km (1-mile) radius of the Carlin mill were being mined. The crew consisted of 46 hourly men and three supervisors. This equals 497 t/ total hourly manshift (548 st) or 407 t/total manshift (515 st). Rising gold prices in the early 1970s allowed lower grade deposits to be mined at greater distances from the mill. The Boot-strap pit, 19.3 km (12 miles) north of Carlin, was started in 1973. Two Hough 45.4 t (50 st) front-end loaders, four Wabco Haulpak 45.4 t (50 st) trucks, and a second track type D-8H dozer were added. The higher grade ore was trucked to the Carlin mill using three

Jan 11, 1985

By Mark A. Krall, Robert L. Geddes, James C. Frost

Introduction The Conda Partnership's Dry Valley phosphate mine is a thinly bedded, multiple seam open-pit mining operation where selective mining techniques are used to recover phosphatic shales. The mining methods used are truck/shovel and scraper/dozer operations. Ore is shipped 32 km (20 miles) by rail to a beneficiation facility. The ore is upgraded by washing and calcining. The mine and beneficiation complexes are owned by the Conda partnership. It is a joint venture between Beker Industries Corp., of Greenwich, CT, and Western Co-Operative Fertilizers (US) Inc., of Alberta, Canada. The Partnership operates as a separate entity of the two partners. The Dry Valley mine is located 48 km (30 miles) northeast of Soda Springs in Caribou County in southeastern Idaho. The mine is situated on the Caribou National Forest. Mining operations take place between 2 and 2.4 km (6400 and 7900 ft) in elevation. It is accessible partly by 32 km (20 miles) of paved roads and 16 km (10 miles) of dirt roads. The winters are long and severe, and the summers are short and mild. This article describes the history, geology, exploration, mining, and reclamation that makes this mine Idaho's largest producing mine and the western US' leading phosphate producer. History and production In the mid-1950s, Western Fertilizers of Salt Lake City, UT, drove an exploratory drift in Maybe Canyon. A large bulk sample of phosphatic shales was analyzed for phosphate content and processing characteristics. No large scale mining or processing operations were undertaken. In the late 1950s, the Dry Valley property was sold to Central Farmers of Chicago, IL. No major operations took place. In 1964, Central Farmers sold the property to El Paso Products Co. of Odessa, TX. El Paso Products supervised the mining operations of Wells Cargo Mining Co. from 1965 through 1967. During this time, El Paso Products built a beneficiation facility and a fertilizer complex in Conda. A 32-km (20-mile) railroad was also constructed from the mine to this facility. From 1968 through 1972, the mine was shut down due to a depressed fertilizer market. In 1972, El Paso products sold its ore reserves, beneficiation plant, and fertilizer complex to Beker Industries Corp. In 1979, Beker Industries sold 50% of its ore reserves and 50% of its beneficiation plant to Western Co-Operative Fertilizers (US) Inc., of Alberta Canada, forming the Conda Partnership. It has operated the mine and beneficiation plant since January 1979. From the mid-1950s to the mid-1960s, no substantial production took place. From 1965 to 1967, El Paso Products stripped 3 Mm3 (4 million cu yd) and mined 2.3 Mt (2.5 million st). From 1972 through 1983, 50 Mm3 (66 million cu yd) were stripped and 18 Mt (20 mil¬lion st) were mined. Geology The Wells Formation forms high ridges and hillsides in the Dry Valley area. It is best exposed along the west face of Dry Ridge. It forms the imposing wall on the east side of Dry Valley. The formation is divided into two members. The lower member, about 213 m (700 ft) thick, is dominantly thin to medium-bedded limestone and silty limestone. It contains nodules and stringers of chert and minor sandstone. The upper member is composed principally of thick-bedded to massive cross-bedded, light-gray to orange-yellow, fine grained sandstone. There is some interbedded brown to light-gray limestone. This member varies from 369 to 457 m (1300 to 1500 ft). Recent investigations indicate that the upper Wells is of Permian age. Under some conditions, the Wells may be water-bearing. Otherwise, it has no apparent economic significance. Grandeur Member (Park City Formation) Overlying the Wells Formation is a distinctive light-gray to white dolomitic fossiliferous limestone. This unit has been identified by the US Geological Survey (USGS) as the Grandeur Tongue Member of the Park City Formation. This member is sometimes absent due to its contact with the Meade Peak Member of the Phosphoria Formation. It is easily detectable by its color, hardness, and fetid odor. Phosphoria Formation The Phosphoria Formation of Permian age was named from Phosphoria Gulch, Bear Lake County. The formation has been studied extensively and developed for its economically valuable phosphate reserves.

Jan 11, 1985

By Pan Eimon

She was young, beautiful, intelligent, virgin. Her name was Barbara and she captured the attention of many men, especially those in dangerous occupations. Her rich and doting father was hopeful of making an advantageous marriage for his daughter. Instead, she defied him, became a Christian, and refused to marry. Traumatized, he killed her and was himself struck dead by lightning. That is not the plot of a new soap opera. It is the melodramatic story of a Turkish teenager who was martyred in the third century but lives still as patron saint of mining. The story begins with a 20th century fact. Santa Barbara is a figment of imagination - perhaps based on an early oriental folk heroine, embroidered by a seventh century storyteller, and reworked by a ninth century Greek martyrologist. The authoritative Lives of the Saints reports: "There is ... Considerable doubt about the existence of a virgin martyr called Barbara and it is quite certain that her legend is spurious. There is no mention of her in the earlier martyrologies, her legend is not older than the seventh century, and her cult did not spread until the ninth." The Catholic Dictionary adds that the Barbara story is probably "a pious legend." Widely revered Santa Barbara was one of the most widely venerated saints of the Middle Ages. She became the patron, not only to miners, but also to artillerymen, engineers, architects, builders, stonemasons, gravediggers, and sailors. Mines, mountains, churches, and places bear her name. Barbara's feast day, Dec. 4, appears on the most ancient holy day calendars. And a Barbara festival is still celebrated throughout central Europe, in Spain, and in mining areas of Latin America on that date. The Pacific coast channel, the city, and the mission of California are named for Santa Barbara. An expedition, sailing that coast under Viscaino in 1602, was saved from shipwreck on Dec. 4 after the sailors prayed for Barbara's intervention. Franciscans gave her name to the modern Franciscan Province of Santa Barbara, which embraces six western states and the Philippine Islands. Barbara is intimately entwined with mining. The origins of both saint and profession are lost in an-

Jan 11, 1985

By Peter J. Szabo

The mining executive works in a cyclical industry. His employment is subject to the vagaries of the marketplace. Boom and bust has always been the industry's story. "Big oil" failed in its mining effort. This left emotional and financial scars on many mining families. One must remember that mining executives always play a high-stakes game. Given the cyclical nature of the mining industry, mining executives need to take care of their own financial security. The mining executive that does not plan for his financial security in this cyclical business is playing Russian Roulette with his future. Take a look at those people who have reached their later years with the mining industry. One usually finds three categories of people. Those few in the first group have been fortunate enough to have worked for one company. They have survived the winnowing process of cyclicality, political problems, and takeovers. They have reached normal retirement age. For them, the retirement years are usually comfortable. People in the second group have worked for those same mining companies. But these people have been forced out by early retirement. Or they have been laid off for cyclical, takeover, or political reasons. The third group includes those who have held many positions in the mining industry. Probably not until their later years are they fully vested, if at all, in a pension program. The first small group, then, is the exception. The others, unless they have taken care of their financial security, are doomed to later years of financial problems, stress, and unhappiness. Too late in life, many realize the harsh realities of failure to plan and implement a personal financial program. Mining executives go to some of the world's leading mining schools, to learn how to make money. The curriculum is technically strong. Most mining graduates are familiar with the intricacies of discounted cash flow, present value, and the Hoskold formula. But few of these same mining schools require courses on personal financial planning. Such courses could give mining students a realistic foundation and the mechanisms with which to cope with their cyclical profession. An executive has only three sources of money. He can make money at work. He can put his money to work. Or he can get money from charities, such as government programs. Of these three sources of money, money at work has the best chance of providing financial security in later years. The mining executive must think of the day when he will be too old to work and contribute to the market place. At this point, the quantity and quality of his investments will determine whether his later years will be secure. Along with the Mining Engineering Handbook, two key books should be included in the mining executive's library. These are Venita Van Caspel's The Power of Money Dynamics and Benjamin J. Stein's Financial Passages. These books contain the basic concepts of personal financial planning so critical to an individual's financial survival. Venita points out the simple formula that is the key to financial independence: Time + Money + American Free Enterprise (Rate of Return) = Opportunity to Become Financially Independent Chart 1 shows that this is not a trite formula. The chart shows the dramatic effects of compounding over time. The chart also shows at various yields what a $2000 a year Individual Retirement Account (IRA) contribution will accumulate. Chart 1 (from Money magazine) is based on the future value of an ordinary annuity. It shows that the key to amassing a small fortune by the time a person reaches his 50s is starting to save methodically in his 20s. This, coupled with the highest yields consistent with safety of principal will ensure financial security. There are significant effects from compounding money over time. Every year the decision is put off to save for later years will cost a person dearly by the time he reaches his 50s. For example, consider the decision to put off for one year a $2000 IRA investment at a 12% return. Starting it at age 31 instead of 30 will cost the executive almost $100,000 by age 65. What if the executive waits until age 35 to get started with his $2000 a year investment? He will then lose nearly $400,000 by age 65. Stated another way, the executive costs himself this $400,000 simply because he did not invest $167 a month for five years. $167 a month - that's less than an inexpensive second car payment. This $400,000 pool of money could provide the executive a $40,000 a year income at age 65, assuming a 10% return on invest-

Jan 11, 1985