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By J. B. Griffiths

Clearly there is a tremendous need for assistance in Eastern Europe since most industries must undergo major restructuring. The new governments face many dilemmas, the first task being to establish an order of priorities to deal with the numerous problems at hand. Issues such as the standard of living take low priority compared with market economy and ecological problems. The concept of a Comecon market is now virtually non-existent and trade in roubles ceased from 1991. From this time onwards countries were obliged to trade using free market prices. Governments must also avoid the economic mistakes of countries such as Poland with its high devaluation and lack of economic control and, if possible, contain inflation and unemployment. The privatization of Eastern European enterprises raises considerable difficulties, particularly for large corporations, employing anywhere from 50-100,000 people, which played a major role in the national economy. Whichever method is selected, however, still has to overcome the problem of lack of capital and evaluating the national property. For example, earnings represent only a small percentage of the value of these national industries and thus cannot convert to private ownership without foreign capital investment, either direct or as joint venture capital.

Jan 1, 1992

By D. Randolph Berry

The objective of this program was to develop a system to extinguish coal mine fires by remote sealing of the underground passageways. The system developed had to be versatile enough to function under a wide range of operating conditions, including large variations in passageway geometry, depth of mine, water conditions, both in the mine and at the surface, and rubble in the mine passage. The system developed had to include instrumentation for the remote probing of the passageway prior to sealing, a system for sealing the mine passages, and instrumentation for remote monitoring of the quality of the seal during and after construction. These objectives were successfully achieved during this program. The remote mine sealing capability of the system was satisfactorily demonstrated in a field test conducted at the Eastern Associated Coal Corporation Federal No, 1 Mine in Grant Town, West Virginia.

Jan 1, 1973

By T. G. Carter, R. I. Miller

First, the influence of variation in the

Apr 1, 1995

By Raphaël Mermillod-Blondin, Claude Bazin

"Sampling is an important step for ore body evaluation and daily plant material balances. The Gy’s equation is regularly used to assess the size of the samples to be collected and to estimate the reproducibility of the collected samples. The equation works well for iron and base metal ores but seems to produce pessimistic estimates of the gold content reproducibility for gold ores. A model is proposed to simulate the division of samples using a standard splitter and discrepancies are observed between the Gy’s equation predictions and simulated samples reproducibility for crushed gold ore. Results of the simulation show that sampling a pile of ore crushed to -2 mm should lead to more reproducible gold content than it is observed in practice and predicted by the Gy’s equation.INTRODUCTION With current gold prices above $1400 per troy ounce operators seek for new economical ore bodies. The metallurgical evaluation of an ore body is one of the numerous steps required to justify the investment for the development of a gold mine. Metallurgical testing requires to sample the ore body and to prepare the ore sample for the grinding and separation tests. The preparation implies crushing the ore usually to less than 2mm and its division into batches of a given weight for subsequent processing. For gold ore testing a batch of crushed ore is ground in a laboratory mill and leached using cyanide. Gold recovered in the solution is used as an indicator of the ore processing amenability. One difficulty associated with ore testing is due to the reproducibility of gold content measurements of the feed sample. According to the Gy’s equation (Gy, 1979; Morisson, 2009) the division of a 20 kg batch of -2 mm ore containing 5 g/t of gold into batches of 1 kg may lead to batches containing 5 ± 5 g/t of gold. For this reason the gold content of a feed sample is usually back calculated from the assays of the solution and solids residues of the leaching process. However, these two assays may contain measurement errors that can propagate through the calculation of the gold recovery. The use of the feed assays as a redundant information could add robustness in the evaluation of ore amenability to processing. This paper discusses the problem of sampling reproducibility for a gold ore. The analysis is carried out with reference to the Gy’s equation for the sampling of particular materials."

Jan 1, 2012

By Tom Ireland, Tony Rock

The proposed 1.83km long twin bore A3 Hindhead road tunnel planned for contruction in 2008 is being delivered under a Highways Agency Early Contractor Involvement (ECI) contract. The proposed construction methodology is progressive mechanical excavation of a horseshoe shaped tunnel with shotcrete installed close behind the face using robotic spraying equipment. The tunneling medium is a ‘soft rock’ sandstone for which there was little previous tunneling experience, requiring extensive geotechnical investigations and an innovative approach to lining design. A 240m long portal section though sandy material utilising a steel pipe umbrella is also required. This paper describes the development of the tunnel planning and design including the most recent developments in UK road tunnels, and the innovation included in the ‘permanent’ primary lining design.

Jan 1, 2007

At the Orieco mine quartz veins carrying sulphides were localized in parts of an extensive fault zone in the Mathinna Beds during late Middle Palaeozoic mineralization.These deposits were subsequently exposed, and oxidation of the sulphides by percolating groundwaters resulted in the formation of gossans at the surface, and replacement close to the permanent water table of the more soluble sulphides by copper sulphides (chalcocite, coveIlite). A restricted zone containing copper oxides (cuprite, tenorite), copper carbonates (malachite, azurite), iron arsenates (scorodite, pharmacosiderite) and possibly rare copper sulphates occurred above the water table.The renewed oxidation of these deposits following mine development has been facilitated by the ready circulation of air and water combined with the formation of large free surfaces ideal for evaporation of aqueous solutions. Under these new conditions of high initial sulphate concentration, low pH, and relatively high Eh, the previously formed mineral assemblage is unstable and numerous Cu (Fe,Zn)-sulphates and Fe (Cu,Pb)-arsenates are presently forming in fractures in the fault zone and on the adit and stope surfaces for some considerable distance from the Sulphide-rich ore shoots. The observed spatial sequence of the major sulphates with respect to the sulphide-rich zones (Le. chalcanthite-antleritebrochantite and langite) is consistent with decreasing sulphate concentration and increasing pH away from the oxidizing sulphides.

Jan 1, 1970

By Louis J. Sousa

This Bureau of Mines report examines aggregate trends in foreign direct investment in the U.S. mining and mineral processing industries between 1977 and 1984, and provides an analysis of foreign investment in several major mineral commodity industries. In 1984, 11.1 pct of total employment in the U.S. minerals industry was at firms that were U.S. affiliates of foreign firms. In 1985, the proportion of U.S. capacity held by foreign investors in nine major mineral commodity industries was as follows: steel, 5 pct; silver, 16 pct; lead, 18 pct; aluminum, 25 pct; zinc, 26 pct ; copper, 30 pet; cement, 32: pct; gold, 44 pct; and ferroalloys, 56 pct. Almost 90 pct of the total foreign investment in the U.S. minerals industry was accounted for by eight countries-Canada, the United Kingdom, France, Federal Republic of Germany, Switzerland, Japan, Australia, and the Republic of South Africa. The most fundamental reason behind the growth in foreign investment in the U.S. minerals industry has been that an increasing proportion of U.S. mineral firms and assets have been for safe, while foreign mineral companies have been the ones most willing and able to purchase these firms and/or their assets. mile the growth in foreign ownership in the minerals industry has not been without controversy, it has helped save jobs, reduce the minerals trade deficit, and- from the national defense perspective-maintain the Nation's overall mineral and metal self-sufficiency at reasonably high levels. In the absence of domestic buyers, foreign investors have helped to maintain a viable domestic minerals industry.

Jan 1, 1987

By Clair Murdock, David Heath

The 1,280 MW Sir Adam Beck II Hydroelectric Project was constructed in the1950s, at Niagara Falls, Ontario, Canada. The twin intake tunnels total over 17 kilometers in length and pass deep below the City of Niagara Falls. The tunnels were excavated using drill and blast methods, with a top heading and bench approach. The shot rock was loaded with electric shovels and transported to the five shafts with off-highway trucks. The tunnel muck was hoisted to the surface by skip and transported by truck to disposal areas. The volume of underground excavation for the 15.55 meter diameter tunnels and the shafts exceeds 3,500,000 cubic meters, then and now the largest underground civil works excavation by drill and blast in the Western Hemisphere. The lining required over 900,000 cubic meters of concrete. All of this work was completed in three years, remarkable progress, considering the technology of the day, comparing very well with the rapid excavation and tunneling methods of the twenty-first century. Big, fast, and deadly—at least 20 lives were lost in construction accidents.

Jan 1, 2007

Using Positron Emission Particle Tracking (PEPT) to Investigate Industrial Systems

Sep 13, 2010

By Dennis Nottingham

Spin-fin pipe piles can develop large loads in tension, thus have evolved as a foundation product of great potential. Currently, over 500 spin-fin piles have been used successfully in dolphins, docks, buildings and bulkheads. Spin-fin piles are pipe piles with plates welded near the tip at a batter-in-screw fashion. Thus, as the pile is driven, the pile screws into position. Tests show this pile type to have highly unusual stress/strain relationships, wherein plunging failure is usually never reached either at normal or large deformations. Tension capacity can approach pile capacity in bearing; thus, large reserves are usually available for tension. Tests have been performed on 8-5/8-inch to 24-inch-diameter piles in silt, sand, and gravelly soil, to provide a broad spectrum of data.

Jan 1, 1990

Australian rutile and zircon concentrates are refined raw materials and not manufactured products. The composition and properties of the grains are therefore fixed by nature. Specifications and assay certificates should take this into account by eliminating unnecessary provisions which only increase the time and cost of analysis.INTRODUCTIONThe raw material from which Australian rutile and zircon concentrates are isolated is beach sand on the coast of New South Wales and Southern Queensland. The principal current operations are in an area between Sydney and Brisbane.The sands consist principally of quartz particles, but they contain from 1 per cent to 50 per cent of a mixture of heavy minerals, including zircon, rutile, ilmenite, monazite, leucoxenic grains, chrome spinel, chromite, garnets, corundum, topaz, brown spinel, olivine, epidote, clinozoisite, tourmaline, magnetite, hematite, and cassiterite. The major components are zircon (25 to 60 per cent), rutile (25 to 50 per cent), and ilmenite (5 to 50 per cent).The so-called leucoxenic grains are not a definite mineral species but an alteration product of which the major components are titanium oxides and silica in varying proportions.Primary concentration is by gravity, using spirals or various forms of pinched sluice (Pullar, 1962), the resulting concentrates being redressed on wet tables. During these processes, some of the lighter heavy minerals including leucoxene and impure rutile, which tend to degrade the final rutile and zircon concentrates, are eliminated.The separation of heavy minerals from each other is...

Jan 1, 1963

By Lucien F. Trueb

The microstructure of explosion-bonded pairs of similar and dissimilar metals has been investigated by electron microscopy. A review of the specific problems encountered and the methods used for obtaining surface replicas and thin-film transmission specimens of the bond interface is given. The bond area is mainly characterized by continuous and practically diffusionless metallurgical bonding. The very large shear stresses induced along the collision front of the plates being joined causes extreme grain elongation and a symmetrical pattern of subgrains in the bonding direction. The bond zone is also characterized by a very high density of dislocations and pressure-induced twins. Localized heating occurring during the cladding process can result in partial re-crystallization or the formation of thin layers of molten material. The force of precisely controlled explosions causing a high-velocity impact between metal plates has been used for several years to achieve metallurgical bonding between an extremely wide variety of metals. This method essentially consists of accelerating a plate to high velocity toward a stationary plate by a detonating explosive. Since the restrictions to bonding are not those encountered with conventional nethods, it becomes possible to bond pairs of metals having widely different mechanical properties that are immiscible or form brittle intermetallic compounds. Many applications of such composite metals are found in the field of corrosion protection as well as numerous other fields; for example, explosion bonding is being applied for fabricating the materials used by the United States Mint in the new sandwich-type coins. The primary condition for establishing a metallurgical bond is that absolutely clean metal surfaces be brought together. Any metal exposed to the atmosphere is covered with oxides, adsorbed gases, and other contaminants; even a very forceful impact of two such surfaces is not sufficient for bonding. Cowan and Holtz-man,"' who reviewed the dynamics of colliding plates in detail, showed that in order to achieve a good bond the explosion conditions must be chosen in such a way that the plate collision velocity is less than the sonic velocity, in which case no oblique shock waves are attached to the collision front. A pressure wave is then generated ahead of the collision line, and the material forming the colliding surface of each of the plates flows forward and is ejected in the form of a spray, the so-called jet. The dynamic elastic limit of the metals must be exceeded so that there is sufficient plastic deformation. At the point where the jet formed by the junction of the inner surface layers of both plates separates from the combined plates, the material experi- ences a very high shearing strain and the pressure can reach several hundred kilobars. This process strongly influences the microstructure of the bond zone as will be seen later. Behind the collision front, uncontami-nated layers of internal material are brought together under high pressure and are thus metallurgically bonded. I) STRUCTURE OF EXPLOSION BONDS The different types of explosion bonds that can be obtained depend on the explosion conditions, and have been investigated by Cowan and Holtzman,1'2 Holtzman,3 Klein; Bahrani and crossland,' and Buck and Horn-bogen. The preferred kind for practical applications is the so-called wavy bond, typical examples of which are given in Fig. 1 showing light micrographs of various metal-to-metal interfaces. In forming this type-- of bond the collision energy is mainly expended in jetting, the formation of waves, and localized melting. Beyond the crest of the waves, eddy-shaped areas are observed in which the two metals are mixed in a complex pattern of streaks. Cowan and Holtzmanl first proposed that this wavy pattern is analogous to periodic eddy shedding in the flow of a viscous fluid around an obstacle (Von Karman's eddy street). The mass of metal ahead of the stagnation point, which is associated with the jet and has forward momentum, plays the role of an obstacle and the eddies created in the flow of solid metal around the stagnation point are preserved in the final clad specimen. This idea has been reviewed more recently by Klein4 and the variables involved in the wave formation have been discussed in some detail by Bahrani and crosslands and Buck and Hornbogen.6 Several studies of the structure of explosion bonds by light metallography have already been published.1-6 Aside from the waviness and the eddies which were mentioned above, the most striking characteristic of the area in the vicinity of the bond interface is a very considerable longitudinal grain deformation which appears to be strongest at the metal-to-metal boundary and dies out as one moves away from it. Large twins are often observed within the deformed grains, and molten areas are found in the center of the eddy-shaped structures situated beyond the crest of the waves. The large hydrostatic pressures and shear stresses occurring at the interface modify the mechanical and chemical properties of the bond zone. Increases in hardness in this area have been reported by various authors.396 The defects along the interface can also cause a local increase of the chemical reactivity and thus might be expected to boost the etching rate. However, the effects of this preferential etching cannot be observed by light microscopy due to its inherently limited resolution power. The same limitation precludes the observation of morphological features directly along the bond interface as well as the interface itself. Furthermore, no information can be gained by light-

Jan 1, 1969

At the inception of the gold-mining industry at Kalgoorlie the small supply of firewood required for steaming purposes was naturally all drawn from the limited local areas, which promised soon to become denuded. With the advent of the railway toKalgoorlie came the ever increasing machinery and steam power, and the accompanying demand for firewood so increased that the fuel contractors began their operations, by following the timber belts along the Yilgarn railway line, and graduallygetting further westward, until at present we find them as far as Woolgangie, 63 miles from Kalgoorlie, and with the regular railway rates, I0. per ton per mile, this maybe considered the limit of payable timber at current rates. Although in the early days the reserve of timber along the railway line must have appeared as incalculable and inexhaustible as that of coal did in Europe a couple of centurys ago, the day is now near us when even this source will fail to meet the demands made upon it, for, although a good two years' supply is available or the areas under the axe, yet it is time to look ahead and find from whence the future supplies are to be drawn. Along the railways we find the zone of felling operations limited for want ofcommunication, and only such portions of the forests as are within six or seven miles of the railway come under the axe at present while virgin forests to the rear remain practically unexploited. It is only in the course of the past sixteen months that the firewood industry has developed...

Jan 1, 1901

By Cuppam Dasarathy

The incidence of liquid inzmiscibility in binar)) indium alloys has been theoretically analyzed on the basis of the Hildebrand-Alott equation. Bedictions of miscibility or otherwise Imve in general been found to agree with those phase diagrams that are already publislzed in the literature. Out of a total of 27 systems, where either the complete phase diagrams are published or liquid immiscible behavior is reported, the Predictions agree with the experimental data in 25 systems, the exceptions being the Te-In and Ni-In systems. According to the equation, liquid immiscibility is also indicated in the binary alloys of indium with K, Rb, Cs, Na, Sr, Ba, Ti, Zr, V. Nb(Cb), Ta, W, U, Re, Ru, Rh, Os, and Ir. RECENT investigations by the author have shown that indium when alloyed with iron, chromium, and cobalt shows liquid immiscible behavior.1"3 The Fe-In phase diagram shows a wide range of compositions where the liquids are immiscible.4,5 No intermediate phases are present in this system. No precise information is available about the extent of liquid immiscibility in the Co-In system. However, it is certain that there is a range of compositions where the liquids are immiscible and that there are two or three intermediate phases,376 in the system. Liquid immiscibility is also strongly indicated in the Cr-In system and no evidence was obtained in the brief investigation to indicate the presence of intermediate Cr-In phases.2 The present paper deals with a theoretical analysis of binary alloys of indium with certain elements of the periodic table and indicates the systems where liquid immiscibility may be expected. The incidence of liquid immiscibility in binary systems has been theoretically examined by many workers and many excellent papers are available on the subject. In this paper, the alloy systems are examined on the basis of the more recent ideas proposed by Mott.7,8 It has been claimed8 that the Mott parameter predicts the incidence of miscibility or otherwise with reasonable accuracy and consistency. BACKGROUND TO MOTT&apos;S APPROACH Hildebrand applied his immiscibility rule for non-polar liquids to various alloy systems.9 The basis of this rule is that the equation for the excess free energy of formation of a liquid solution is rather similar to the theoretical expression for the energy of mixing of a regular solution. He postulated that when the heat of mixing is sufficiently high, separation into liquid phases will occur and the condition for complete CUPPAM DASARATHY is at the Research Centre, British Steel Corporation, (South Wales Group), Port Talbot, Glamorgan, Great Britain. Manuscript submitted March 12, 1969. IMD miscibility was shown as where VA and VB were the atomic volumes of the components A and B, and ?EV the energy of vaporization of the component. The term (?EVA/VA)1/2 was regarded as a measure of the binding energy of the component A and was called the L&apos;solubility parameter" 8A. On this basis immiscibility occurs when 1/2(VA+VB)(bA-bBf > 2RT [2] Apparently, however, there were several inconsistencies in that according to Eq. [2] several systems known to be miscible in the liquid state were predicted as immiscible. MOTT&apos;S ANALYSIS ~ott&apos;" regards that the reason for the inconsistencies arising out of Hildebrand&apos;s equation was largely due to the electrochemical attraction between the two elements, not being considered. Hence, Eqs. [I] and [2] were modified by taking into account the electro-negativities of the two elements XA and XB, and Mott arrived at an equation for immiscibility, i(VA + VB)(6A - aB)2 - 23,Q60n(XA - XBf > 2RT [3j which can be written as i **&£*&* >&apos;*°™- &apos;• HI T being the melting point of the more refractory component of the system. In Eq. [4], the numerator was called the Hildebrand term, the denominator, the electronegativity term, and their ratio, the Mott number. Mott observed that if the Mott number of a given binary system was greater than the maximum number of Pauling bonds which the two metals could form, then liquid immiscibility could be expected. The maximum number of bonds formed by a given metal was considered to be directly related to the number of bonding electrons available, i.e., to its maximum valency. Since the valencies of the elements considered vary from 1 to 6, Mott assumed that if the ratio of the Hildebrand term to the electronegativity term was >6, then immiscibility could be expected. On the contrary, if the ratio is <1, the metals should be miscible. Further, the alloying behavior is not only influenced by the valencies of the two elements but also by the relative atomic sizes that influence the types of packing and hence the coordination number. Mott considers that on average the maximum number of near neighbors of unlike atoms is 6. Thus, on both valency and size factor considerations, Mott concludes that the maximum number of bonds&apos; possible in any system was 6, this being the upper limit of the Mott number for miscibility. In considering the alloying behavior of systems with Mott numbers between 1 and 6, Mott plotted the num-

Jan 1, 1970

The 107th Annual General Meeting of The South African Institute of Mining and Metallurgy was held at The Country Club, Johannesburg, Napier Road, Auckland Park on Wednesday, 11 August, 2004. Welcome The President extended a special welcome to the guests and representatives of our sister institutes and other associations, also to recipients of awards, senior members of industry, Honorary Life Fellows, past-presidents, our members and other guests, among them the following: Ralph Bagirathi, Executive Member, African Mining Association Rudi Rudolph, President, Association of Mine Managers of South Africa Andrew Whibley, President, Association of Mine Resident Engineers of South Africa Dr Con Fauconnier, President, Chamber of Mines of South Africa Nxolisi Diliza, Chief Executive Officer, Chamber of Mines of South Africa

Jan 1, 2004

By G Small, A Lazamanana, C Greet

When conducting gold leach tests on free milling gold ores which method is the best, bottle rolls or the stirred beaker test? Recently, a client requested that gold leach tests be conducted using the stirred beaker methodology. When asked why, because the laboratory was set up to conduct tests using the bottle rolls technique the reply was that the stirred beaker leach test would replicate the plant more closely. Not wishing to upset the client, the instructions were followed. However, the opportunity was taken to complete additional tests so that the two leach procedures could be compared. Further, this comparison was completed on two different gold ores as well as a number of different grinding media types.This paper provides a description of the two laboratory techniques employed, and presents the results of these parallel tests. Interestingly, the assertion that the stirred beaker methodology more closely replicated plant performance was not validated. In fact, the results obtained using this procedure were noticeably different from those observed in the plant, with lower recoveries and significantly higher cyanide consumptions. The bottle rolls test however more adequately replicated plant performance in terms of recovery and cyanide consumption. The reasons for this are discussed in the paper.CITATION:Greet, C, Lazamanana, A and Small, G, 2015. Bottle rolls versus stirred beaker leach testing – which is best?, in Proceedings MetPlant 2015, pp 188–196 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

By Russell J. Foster

Public awareness of, and involvement in, recycling has increased significantly in recent years. Nevertheless, recycling is generally perceived as a new development, and is familiar only in the context of municipal solid waste management. The actual magnitude and scope of metals recycling in the United States have gone virtually unnoticed. Over time, both the quantitative and qualitative aspects of secondary metals recovery and reuse have changed substantially, while the attendant regulations have become increasingly stringent. This U.S. Bureau of Mines report examines trends and developments in major metal demand and recycling, and analyzes the possible impacts of regulations with regard to recycling activities.

Jan 1, 1994

By L Abrahamsson

This paper describes results from a gender study for a new mine in Pajala, a small community in northern Sweden. Using a gender perspective, the study examines migration, education, local culture, the labour market, and work organisation as problems and opportunities in the regional context for the planned mine. The most obvious ‘gender issue’ for the Swedish mining industry is the very low percentage of employed women, which is even lower among mining workers. To recruit the best people, a company actively needs to attract both women and men; however, the mining companies find it difficult to recruit women as cultural, labour market and educational traditions as well as the mining companies’ own cultures often make it difficult for women to find work in the mining industry.The Torne&#229; river valley, the region surrounding Pajala, has a gender-segregated labour market and gender-stereotyped culture and few young women live in this traditional and oldish region. Many young people leave the region and this is especially true for women. Compared to the rest of Sweden, there is a low educational level, especially among the men. In the mining companies, as in many other male homosocial workplaces, the workplace culture has strong connections to a certain type of traditional masculinity (laddishness, a kind of ‘macho-style’) and for a long time this has excluded women. ‘Gender’, however, is not only a question of recruiting women to a male-dominated industry. An organisation that discriminates according to gender can become inflexible, hindering communication, learning, innovations and change processes. In mining companies, this can manifest itself in hesitant attitudes among the miners about safety as well as organisational and technological development.This study found that companies establishing a presence in this region should develop a strategy for how to deal with and manage the risks and opportunities in the surrounding society (the regional culture) as well as inside the company (the mining culture). This need to be strategic will also be required of future mining companies as they will face higher demands on safety, gender equality, and technology to become modern, efficient and lean organisations.

Nov 22, 2011

By James Ransford Dankwah

This work investigates the effect of waste plastics addition on the reduction of iron oxide by sawdust. Composite pellets of iron oxide containing sawdust (SD), high density polyethylene (HDPE) and blends of SD/HDPE were fired under argon in a horizontal tube furnace at temperatures between 1300 and 1500 °C. Reduced samples were weighed after 10 minutes of reduction and the extent of reduction was calculated from the measured oxygen contents of the compact. The results showed improved extent of reduction when SD was blended with HDPE. The highest extent of reduction was achieved at SD:HDPE ratio of 2:3.

Jan 1, 2014

By Hans von Michaelis

"INTRODUCTIONThe renaissance in gold and silver recovery technology has continued to unfold and it is appropriate to review some of the useful new technologies as well as try to identify some of the industry's future needs and frontiers.The remarkable strengthening in the US dollar has resulted in a relatively low gold price in US Dollars of around $310/oz at the time of writing and silver at $6.25/oz. This general softening in the dollar prices and the recent confusion as to environmental compatibility of cyanidation tailings and effluents, has led to a slowdown in announcements of new operations. Another reason for the slackening off in the USA is that in the past few years a large part of the capital has come from oi I and gas companies that now seem to be losing interest in mineral ventures, and foreign investors for whom the dollar is becoming out of reach. In the author's opinion this represents an unprecedented window of opportunity.Elsewhere in the world where local currencies have weakened, the price of gold is at or close to its all time high.For example, in South African Rands, the gold price was R571.00/oz when the rand was US$1.47 and the gold price reached US$800. Now at US $309/oz and with the Rand at US$0.51 = Rl .00, the local gold price is R600. The price of si Iver in Mexican pesos is not much less than it was when silver reached US$50/oz. Gold, and silver prices in local currencies outside North America are still buovant and at levels where additional investment in new projects is more encouraging.Even in Canada where the dollar is worth about US$0. 75, this provides a smaller but significant cushion compared with US operations. Considering the present strength of the US dollar and even the Canadian dollar relative to many other gold producing countries, there should be significant investment opportunities at today's prices. Mining companies have started to descend on Brazil, for example, where in a matter of just a few years annual gold production has increased from 10 to 70 tons. In South Africa, a Canadian company backed by Swiss financing has been able to take over a Witwatersrand gold mining operation and is installing a huge new tailin9s retreatment plant to process about 1 million tons per month of tailings."

Jan 1, 1985