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Obtaining financing for mining and exploration projects has been difficult for the last several years, particularly for junior companies. Today, though, the purse strings of investors appear to be loosening, leaving the industry with many questions about financing in the coming years. How have capital markets and exploration spending changed? Are there signs of improvement? Where has capital been raised in private, public markets, stock exchanges, private equity, etc.? What companies successfully raised capital in the last year? How are they spending it? How are traditional and alternative funding sources investing in mining? What are the issues mining companies need to know about when tapping alternative sources of capital? Those were some of the questions that were answered at the Current Trends in Mining Finance conference, sponsored by SME and the New York Section April 26-28. Held in New York City, the conference attracted 115 professionals who work on the finance and economic side of the mining industry. Three of the conference organizers talked with Mining Engineering about the conference and the state of financing in the industry today. Tim Alch (TA) is managing director with Behre Dolbear & Co. Alan Oshiki (AO) is executive vice president with the Abernathy MacGregor Group. Henry Weingarten (HW) is managing director with the Astrologers Fund Inc. Here is what they had to say.

By AIME AIME

MOST of the copper mines in Canada are favored by nature in having other metals besides, copper in their ore, which puts them in a most satisfactory competitive position. Noranda ore has an important gold content, Flin Flon gold and zinc, and International Nickel of course has nickel. All of the larger copper companies in Canada operated during 1.933 and the total production of copper exceeded that of the year before. The Britannia Mining and Smelting Co. worked out to succcessful conclusion a three-product flotation process for separating the copper, zinc and iron from its low-grade ore. Although the method and equipment is different from that used at the Flin Flon mine, the object is the same, that

Jan 1, 1934

By J. F. Myers

A bit of old philosophy: The optimist, the pessimist, The difference is droll; The optimist, the doughnut sees, The pessimist, the hole. This is a neat summation of the viewpoint of those engaged in "treating the crude mineral crust of the earth." Many of those in high places have reminded us during the year of the diminishing supply of the resources so essen-

Jan 1, 1948

By H. J. Wasson

WITH the close of 1932 and the third year of the depression, the activity of oil production presents, amidst the general wreckage and chaos of industrial society, a somewhat unique picture of rationalized economic effort. East Texas still dominates the contemporary horizon, but it has become, at least for the time being, a definitely known factor. With its 9500 wells it is approximately 90 per cent drilled up. So long as production control obtains, it is merely one important factor of the national oil reserve. Each succeeding month of stabilized production tends to lull the industry's fears and the menace, both actual and psychological, of this giant field becomes ever more remote.

Jan 1, 1933

Minerals are vital to any industrialized civilization. Annually, the United States uses more than 4 billion tons of new mineral materials, or about 40,000 pounds per person-about half being mineral fuels and the other half being metals and nonmetallics. Stable and economic domestic mining, mineral, metal, and mineral reclamation industries are essential to the economy. The value of United States energy and processed materials of mineral origin exceeds $200 billion annually. Although a number of minerals are imported, especially some designated as "strategic and critical," most U.S. mineral supplies are derived from the domestic mines and processing facilities that you will be seeing, reading about, and visiting as you use this visitor guide. We hope you enjoy your experiences. This pamphlet, a guide to mining and mineral operations that may be observed or visited and some other points of interest relating to minerals, is in-tended to aid tourists and students who are interested in mining. Some may wish to study our Nation's romantic past; others may plan to enter the minerals industry as a career; still others may have a primary interest in conservation practices. The pamphlet is also intended to aid State and local officials, Chambers of Commerce, and mining firms in answering some of the many questions of tourists and students.

Jan 1, 1977

By George D. Dub

The Bureau of Mines, in connection with the investigations of war minerals it conducted, examined the graphite deposits of this country, studied the methods of mining and preparation used, and sought to devise more efficient methods for the preparation of domestic graphite, and to standardize the quality of the product. The graphite investigations covered three general phases, as follows: 1. An examination of the deposits in Alabama and other States, and a survey of the methods of mining and preparation used. In this connection methods of sampling and analysis were noted and experiments made to determine a standard method of sampling and a, rapid but accurate method of analysis. 2. Experimental work on the concentration and refining of domestic crucible graphite to improve the quality of the product and to lessen waste. 3. Experimental work in crucible manufacture to determine the properties of domestic flake and the maximum proportions that might be used without impairing the quality of the crucibles. This work was accompanied by photomicrographic study of crucible structure.

Jan 1, 1920

By Robert G. Lundquist

This paper is a brief summary of work done on mining applications of high energy projectiles. Full scale field testing already completed has used cannons to drive a tunnel, drill large diameter holes, do secondary breakage in an open pit mine, and scale loose rock from inaccessible pit walls. Other applications are suggested in driving development openings, particularly raises. The method will be economically feasible only if cheap liquid propellants are developed.

Jan 1, 1977

By R. B. Taylor

The Esmeralda mine is located about three miles west of the town of Parral, in the State of Chihuahua, Northern Mexico, and about 400 miles south of El Paso, Texas. The area is serviced by the Interamerican Highway and a branch line of the National Railways of Mexico. The Parral district is quite typical of the semidesert of Northern Mexico, lying near the western margin of the Chihuahua basin and range province known in Mexico as the ?Mesa Central? In the immediate mine area, low rounded hills and rolling plans slope toward the Parral River. Surface elevation at the mine is 5,800 feet. The Esmeralda vein outcrops strongly, but was too low grade to be of interest to the Spaniards, The first claims were staked in 1897 and limited exploration work to a depth of 550 feet was carried out prior to 1912, at which time work was suspended. The Eagle-Picher Company acquired the property in 1944 and by surface diamond drilling outlined an orebody to a depth of 800 feet, Minas de Iguala, S. A, de C.V., one of Eagle-Picher?s totally owned subsidiary companies in Mexico, then unwatered the old workings, developed the mine, installed a modern differential flotation plant and started production lage in 1948. To the present, more than two and ahalf million tons of ore have been mined and milled producing lead and zinc concentrates.

Jan 1, 1958

* Kennecott Copper Corp. gets Charles R. Cox as president on Jan. 1. Mr. Cox is resigning his position as president of Carnegie-Illinois to take the new post with Kennecott, left vacant by the death of Mr. Stannard in September. •The ECA signed a contract in December to advance X3,600,000 to Newmont Mining Corp. to aid development of lead and zinc mines in French Morocco. The funds are to be repaid in lead and zinc for the United States' stockpile over a period of seven years. The mines are owned by the Societe des Mines de Zellidja, with which organization Newmont is associated. • Under the direction of John M. Brooks, Jr., general manager, the Matahambra mine in Cuba, will probably produce sufficient tonnage to make 4 million lb of copper per month during 1950. The grade is presently running between 7 and 10 pet. •S. H. Ash reports that the fatality rate per million-man-hr for the anthracite industry for 1949, through November, is 0.78. This is 15 pct better than that achieved during 1948, which was the lowest fatal injury rate in coal mining history. The first full year on record without a major disaster was recorded in 1949 (p. 34). •The Atomic Energy Commission has authorized the production of 200 lb of uranium metal for use under AEC license in non-Commission research projects. •A national survey of projected 1950 purchases of new machine tools, machine tool accessories, materials handling equipment, etc., just completed by the American Society of Tool Engineers reveals that, of the companies reporting, 80 pct state that they plan to buy either more equipment or the same amount as in 1948. • Armour Research Foundation is conducting investigations for the use of clay and shale deposits to make lightweight aggregates. The material is heated until it expands and forms material suitable for mixing with cement which it is hoped will be lighter, stronger, have better insulating qualities and will lower the cost of concrete. •In the first six months of 1949 the bituminous coal miners' average hourly earnings were $1.94 -as compared with X1.392_ national average for all manufacturing. Average annual earnings of full-time employees in the bituminous coal mines in 1948 were $3387 as compared with $2809 for all industry. •LaSalle Business Bulletin reports: "year ends on a rising trend in industry and trade ... nearly record-breaking demand from almost all sources keeps business high... most indicators but little below postwar peak... forces keeping activity high arestill powerful--changes in general business conditions likely to be slow and moderate." •Office of Internal Trade of the Commerce Department requests that technical data significant to the national security which is to be sent outside of the United States be submitted to it for an official opinion on the desirability of transmitting such information. This voluntary compliance program is part of our national security control. • Blast furnace slag reduced to 12 to 16 mesh is being used for sanding track at the Mont Coal mines of Armco. The slag replaces silica sand which caused silicosis. It has proved so effective and cheap that tests are being made to use the slag for rock dusting.

Jan 1, 1950

By N Lefebvre, M Jakeman, R Aseervatham

Semi-arid regions suffer from two afflictions; evaporation may exceed precipitation by multiples of two or more and variations in precipitation can be both extreme and difficult to predict. Many Australian mines are situated in semi-arid areas where communities are reliant upon locally sourced water or special purpose infrastructure is built as part of the mine construction. As the question of climate change looms, issues related to future water supply and sustainable water management become increasingly important. Across Australia several mining operations co-exist in a single surface water and/or groundwater catchment area. The management of water on a mine by mine or a community by community basis is illogical and must be reconsidered based on a single water catchment and a whole-of-community basis. Mine water should be considered on a full life cycle basis where the quality is assessed for specific mine site applications. This paper addresses technical challenges that include surface water and groundwater supply in semi-arid regions, operational water in the mining industry, beneficial uses of water, water economics and demand management. In much the same way as emissions trading evolved into a multi-stakeholder forum, mining regions offer scope for innovative thinking in water supply and reuse. In addition, this paper considers a number of initiatives taken by Australian mining companies that are entering a prefeasibility stage and contrasts these initiatives against the established success within a South African mining region. The challenges and potential solutions to this initiative are presented for future consideration.

Jan 1, 2006

The 30th annual American Mining Hall of Fame Awards Banquet and Fundraiser sponsored by the Mining Foundation of the Southwest (MFSW) will be held at the JW Marriott Star Pass Resort, Tucson, AZ on Saturday, Dec. 1, 2012. Each year, one living inductee, two recipients of Medals of Merit and up to five honorees from mining history are chosen by the MFSW for their outstanding contributions to the mining industry. Gregory H. Boyce will be the guest of honor, featured speaker and inductee into the American Mining Hall of Fame. Boyce, chairman and chief executive office of Peabody Energy, is being honored for his leadership in the coal industry.

Jan 1, 2012

By H. J. Fraser

LIKE a runner catching his second wind, the mining geologist in 1944 has had some opportunity to appraise the result of three years of active and intense search for the metallic sinews of war and peace. The war period has been one of physical activity and accumulation of new data but has not so far resulted in the announcement of any profound or revolutionary theoretical concepts or techniques. Most technical publications during the year have been either descriptive or statistical. A review of accomplishments during the war years, although affording some measure of satisfaction in individual cases or regarding production of certain metals or' ores, is far from justifying any feeling of complacency regarding the growth of the profession either in fundamental knowledge or in application. During 1944 an abundant supply of all metals and minerals flowed steadily to smelters and fabricating plants. Also, during this and preceding years, adequate stock piles for war needs, in view of the improved foreign and domestic supply situation, were accumulated in many metals in such quantities that the mining industry has become concerned not with the problem of supply but with the effect these accumulated stocks, if maintained, might have on the postwar market. These considerations culminated in the enactment by Congress of the Surplus Disposal Act, which, admittedly a tempo-

Jan 1, 1945

By AIME AIME

APOCRYPHAL, no doubt, but widely entertained is the proposition that top-flight mining geologists never agree with each other on anything. Being rugged individualists, they frequently seem intolerant of opinions that conflict with their own. However, one may suspect that controversy is often more apparent than real. For example, at last summer's meeting of the American Mining Congress, Ira B. Joralemon and Reno H. Sales, discussing "Mining Geology, Today and Tomorrow," seemed to be in serious disagreement over various phases of the subject; but much of this arises from the different angles of approach of the two distinguished and successful ore finders.

Jan 1, 1941

By Hans Lundberg

IN last year's report on the progress of geophysics, the airborne magnetometer was the featured new development. At that time only a relatively small number of surveys had been made. During 1947, the airborne magnetometer was used in making many surveys and is again one of the high lights of the year in geophysics. This report is mainly concerned with geophysics as applied to the search for minerals exclusive of petroleum. In 194,5 and 1946, the use of the magnetic method reached a peak, partly because of an active period of prospecting brought on by an active mining market, particularly in Canada.

Jan 1, 1948

The objectives of mining grade control are presented and examples of the techniques used in various open pit and underground mines are used to define the attributes of good grade control. Reasons are discussed for the success of various improved practices. The progressive development of grade control is presented and the balance between quantitative and qualitative data is analysed. The skills and resources required for grade control on mine sites that are using best practice are also presented. A number of problems in grade control have been solved recently however there are still issues that need to be addressed. Examination of the grade control process frequently stops after sample quality has been examined. There is much more beyond this that can now be optimised using conditional simulation models. Other future directions of mining grade control are also suggested. An extensive bibliography of published papers on grade control is included that will be maintained and updated on a website.

Jan 1, 2000

By Thomas T. Read

IN reviewing the field of mineral industry education last year reference was made to recent assertions, mostly emanating from sources not in a position to know the facts, that mining engineers as a class are disappearing. Attention might also then have been called to a statement that appeared in Engineering News, August 11, 1892 (p. 130), ". . . the great absolute decline in number of mining graduates, which last amounts almost to a complete abandonment of mining engineering as a distinct branch of study." Evidently we outrank opera stars in the number of farewell appearances we are able to make; 43

Jan 1, 1936

By M. Javier

"Mining makes civilization possible. It also creates socio-economic problems surrounded by sustainability controversies yet continues extraction without considering the balance and finitude of nature. Nature requires restoration of equilibrium if mining and life on earth are to continue. Mining is still practiced according to Agricola’s views and the consequences it has wrought on our planet demand we critically reexamine it from its very core, to its metrics, to its design, to its technology, to how it is taught, and to reconsider its raison d'être in 2017. This paper offers tools to new mining engineers that are required to transform and solve new challenges. The task before us is to formulate an updated core curriculum that meets the demands and realities of the 21st Century. Mining professionals must rethink and reteach how to redesign mines before shovel hits dirt, how to mine with restoration of nature figured in to the mining design. Mining needs a new extractive technology in order to transform the results of its well-known liabilities. Mining has evolved and its future must be different than its past. Our industry is capable of doing this but it needs to be shown the way. INTRODUCTION The statement that ‘mining makes civilization possible’ is of the utmost importance and has the most value to us. We can examine the past and present appropriately to see the future that we are building. Mining must be addressed in a different way that makes a positive difference and improves upon rather than continues to get the negative impacts of the past. See Fig 1. Mining creates disequilibrium in Nature by producing ore, waste, tailing, dilution of resources, toxic, and pollution to its ecosystems. What is next for mining on a limited planet? Delaying the transformation of mining is not an option to developing an updated and modern mining business-as-usual paradigm. It is hurting the essentials of living in a civilization; our livelihood is in danger to the point of unrest in nature as we generate a lot of eco-print by present mining practices. So, we are urged to eliminate this bottleneck in life by employing a different design. This way, we will have a vision on how to sustain our civilization. [1]. This new design, with input from current and future generations, will be our contribution to posterity."

Jan 1, 2018

By M. Javier

Mining is most vital to our civilization. The current model of extraction technologies was designed without an expiration date and therefore generates environmental effects that are severe. Mining results-effects have been traditionally accepted and promoted around the world since Agricola described mining. Mining’s extractive technology is outmoded and standardized and inflicts negative results-effects on nature. Those results are liabilities dimensioned in legacy and type of nature able to provide to the next generation. In order to design, build, and transform mining effectively we must ask: What is the vision of mining? Mining has exhausted its antiquated mindset of over 200 years. Now it merely pilots us into crisis. The challenge today is to resolve the socio-environmental conflicts globally with a radical transformation of the mining business at its core. This paper illustrates that old mindsets must be radically updated or the concept of mining will continue to be trapped. Changing the mindset will enable discourse toward a new destiny. These changes will change mining for the better. We are able to evolve and get different results than in the past by pursuing a new legacy to live in harmony with nature for many more years. INTRODUCTION Minerals are supported by the law of conservation of mass. They have the unique characteristics of being finite, exhaustible, unsustainable, and have an unlimited recycling. Minerals are also hard to find because we have explored and virtually exhausted the whole crust of this planet. Orebodies that used to be considered world class are almost exhausted. In the short-term, it would be almost impossible to find new world class orebodies unless they could be extracted from the ocean, the moon or other planets like Mars. Mining is designed to extract minerals for profit and to keep civilizations functioning. Subsequently, mining has a social issue that is an economic issue. Thus, mining must be seen as a real and urgent subject matter that must be protected in thought and in fact. The actual mining extractive technologies produce disequilibrium in nature that has unknowable effects in the course of time. History is filled with the negative consequences to nature due to the model of mining. The evidence of these effects from mining’s model is apparent in repetitive liabilities around the world. The effects negatively impact nature without any consideration to how these impacts will manifest themselves in the future. This model of mining is widespread and extolled in every corner of the planet because it is old and familiar and although wasteful and outdated, we do not want to expend financial resources from profit or elsewhere to explore newer ideas, methods, or technologies that would help us keep a sustainable harmony between extraction and nature. We need a new vision for mining today and to explore in what way academia can and must play a social role in the teaching of mining methods. We need to question why we continue to support the old model of mining and to ask ourselves what prevents us from updating and modernizing the method of mining to meet the current needs not just of civilization but the urgent needs to undo some of the damage to the earth. This paper hopes to develop a method to change our minds about how we conduct the business of mining in order to control the destiny of it.

Jan 1, 2019

By The Staff

IT is a high compliment to be invited to present a pap::r on the subject of "Mining in the National Economy". To cover it adequately would need the knowledge of the economic geologist and of the technical mining engineer, together with the arts of the statistician and of the economist in general, allied with generous psychic powers. Further, one should embellish the tale with a touch of drama. It is comforting that the subject is so broad that whatever may be said within the compass of a paper like the present, can hardly be criticized as going beyond the terms of reference. A conventional approach would be to begin with the noteworthy statistics of the mining industry of yesterday and today. But in the present company this would be "carrying coals to Newcastle"-or to give the venerable metaphor local colour, "nickel to Sudbury". Such statistics are available in all their stimulating detail in our official publications. Let us tackle at once, therefore, as a less hackneyed theme, the relationship of mining to other phases of the Canadian economy. RELATION TO TOTAL PRODUCTION While mining occupies a position of less importance than manufacturing or agriculture in Canada, its relative contribution has greatly increased during the post-war period. Due to the fall in wholesale prices, the net value of production in Canada has shown a decrease averaging about 1.5 per cent per year during the post-war period, though its volume of course has gone up. Mineral production on a value basis, on the other hand, showed a gain of 2.8 per cent per year. Mineral production was only 5.14 per cent of the net value of production of all kinds of commodities in 1919, bur from 1929 to 1936 the proportion rose steadily rill it reached no less than 12. 76 per cent in the latter year.

Jan 1, 1937

By Arthur M. Whiteside

Discussion of the laws bearing upon the economics of mining in this province at once resolves itself under three headings: (a) The rights and obligations of holders of mineral bearing lands; (b) Taxation of mines; (c) Regulation of methods adopted in financing mining operations. Titles: The law relating to titles is contained in the Mineral Act, Placer Mining Act and Coal Mines Prospecting Act. Origin: Mining laws in force in this province and elsewhere on the continent had their origin in the rule-of-thumb regulations adopted by prospectors themselves, when, far from the centres of civilization and the seats of the courts of justice, they found it necessary, for mutual protection, to fix the conditions of possession by right of location, and to prescribe the duties to be performed in order to enable the individual to maintain his ground against all comers. These regulations have been codified and added to by legislatures, until we find adequate protection and safeguard to property in the laws of this province.

Jan 1, 1924