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By D. J. King

The development in recent years of a fluidized bed system for use as a counter-current solid ion exchange loading contactor for the purification and concentration of uranium from leach liquors has had a major impact on the design of uranium extraction plants. The main object of this paper is to describe many of the variations that can be applied to the design of uranium extraction plants arising from the use of a fluidized bed loading contactor with a view to providing a guide for the development of a flowsheet for a new uranium extraction plant. The paper has been devoted primarily to the consideration of conventional uranium extraction plants in which a ground ore is leached in mechanically or air agitated tanks. The effect of the use of a fluidized bed loading contactor on each of the plant sections from leach to uranium purification and concentration has been considered. In order to describe most effectively the impact of using a fluidized bed solid ion exchange loading contactor, its use has been compared with the performance that can be achieved with the most common alternative purification processes. The comparisons are made largely on a technical basis, but the effect on the capital and operating costs of the different uranium extraction flowsheets are described qualitatively. In making these comparisons, consideration is given to the effect on the size, number and materials of construction of equipment items and how the quantity and composition of the liquid effluents can be controlled to reduce the environmental problems arising from the disposal of these effluents. The paper also discusses some of the factors that should be taken into consideration in the design of a fluidized bed loading contactor and describes various designs of the elution section that can be used in conjunction with the loading contactor.

Jan 1, 1979

By Gyan S. Rajhans

"The strategy of fibrous dust sampling is discussed, various sampiing methods are critically reviewed .and their application to coal dust is demonstrated. Fibre counting is described in detail. An attempt is made to explain the basis of determining the threshold limit value of asbestos and other dusts. The paper also discusses such dust control methods as enclosure of the process, effective local exhaust ventilation, segregation, substitution, wet processing and continuous monitoring of the return air for recirculation."

Jan 1, 1970

By James A. Robertson

"The Pronto Mine located at the east end of Lake Lauzon, Long Township, some 12 miles east of Blind River is of historic note being the discovery locality and the first producing mine of the Elliot Lake uranium camp. Radioactive bedrock was discovered in 1949, a commercial deposit was verified in 1953 and production commenced in 1955. Production continued to April 1960: total tons milled 2,264,404 from which 4,643,835 pounds U,O, were recovered at a recovered grade of 2.05 pounds U3O8 per short ton.The orebody is in a bed of pyritic quartz pebble conglomerate at the base of the Matinenda Formation of the Elliot Lake Group of the Huronian Supergroup. The rocks strike east and dip 15 degrees to 20 degrees south and unconformably overlie Early Precambrian granite, the upper surface of which is marked by a regolith. Several diabase dykes cut the orebody which is also affected by albite, chlorite, and carbonate-rich alterations. To the south the orebody is cut by a fault. The orebody is 6to 10 feet but locally 10 to 15 feet thick, has a strike length of 3,500 feet and extends down dip for 3,600 feet to a depth of 1,000feet. Some 300,000 tons of ore grade mineralization remain in the deeper portion of the mine.IntroductionThe Pronto Mine, (Photo I) at the east end of Lake Lauzon in Long Township some 12 miles east of Blind River, is of particular interest as being the discovery site and the first producing mine of the Elliot Lake camp.Production at the Pronto Mine commenced in 1955 and continued until 1960 when the mill was converted to treat copper ore from the nearby Pater Mine at Spragge. A description of both mines, based on material provided by the mine staff, was given in the report on ""Geology of the Spragge Area"" (Robertson, 1970).As little study has been done on Pronto geology or petrology since mine closure, the earlier description of exploration and geology is essentially repeated, but shortened, here- the main change being that the stratigraphic terminology has been amended as recommended by the Federal-Provincial Committee on Huronian Stratigraphy (Robertson et al., 1969)."

Jan 1, 1986

By Charles Kingsley

THE PRESIDENT (DR. C. B. KINGSTON, member C.l.M.M.) expressed regret that neither of the authors of the paper was able to be present to submit the paper in person. In their absence, it would be introduced formally from the Chair. It was a clear, straightforward account of a fine piece of shaft sinking, cleverly conceived and boldly executed. He referred briefly to the distribution and nature of the Dome ore-bodies and stated that, for both the miner and the metallurgist, the mine had provided a wide range of problems of unusual interest. Discussion on the paper was then invited. MR. THOMAS PRYOR said the paper was most opportune, because the subject of internal shafts did not appear to be fully treated in current mining literature. Many members were not familiar with Canadian gold deposits and it would be of interest if the authors could give a brief description of the location of the ere deposits of the Dome mine. This information would doubtless explain why a new internal shaft was needed in a position which required such an exceptionally long cross-cut to connect it to the main hoisting shaft to surface. It would also add to the value of the paper if the authors would give some idea of the duty expected of the new shaft in terms of tons of rock hoisted and of trips engaged in the transport of men and materials, and it would be helpful if figures could be given of the total capital cost of the hoists and subsidiary excavations at the shaft top, and of the cost per foot for sinking and lining the shaft below the collar. Turning to details of the paper, one was favourably impressed by the care given to the provision of a good travelling way for men in the main cross-cut, as shown in Figure 1. It was by no means always that one could walk in comfort and safety in a working where there was a 20-in. ventilating pipe in the roof.

Jan 1, 1939

By I-H. Jung, J. Kim, B. Konar

"The usage of FeNdB permanent magnet, containing Rare earth elements (REEs), is steeply increasing with its demand for wind-turbine and electrical vehicle. The improvement and recycling of the permanent magnet require good understanding of chemistry of all constituent elements. In order to understand the chemical interactions between REEs and Fe, all Fe-RE binary systems have been critically assessed and optimized based on reliable literature data. The Modified Quasichemical Model and Compound energy formalism is employed to model the liquid phase and the solid solutions present in the binary systems respectively. The enthalpy of the liquid and the intermetallic phases showed a systematic trend along the lanthanide series. This helped to mitigate the discrepancies in literature data and also to predict the binary interactions between some less well investigated Fe-RE binary systems. INTRODUCTIONRare Earth elements (REEs) are a group of seventeen elements (including Scandium, Yttrium and the lanthanide series) that exhibit same characteristic chemical and physical properties. These properties make them valuable to the electronic, appliance, green technology, weapon and medical device manufacturing industries. Compounds of REE with other metals (like Co, Fe, Ni etc.) have unique properties of luminescence, thermal and electrical conductivity, magnetism and ability to act as catalysts and polishing compounds (Gschneidner ,2011).They are not only indispensable for some electronic gadgets of today, like computers, music systems, mobile devices, televisions and MRI machines, but also holds a key to more greener technology of the future. They contribute to the development of more efficient and environment friendly version of everyday products such as cars and light bulbs. REE compounds revolutionized the magnet industry by making them smaller and more powerful with increased longevity, and high temperature workability, which are used in motors and generators that power electronics, telecommunications, electric automobiles and turbines(Humphries, 2011)."

Jan 1, 2012

By Robert D. McKellar, Luke Frawley, Okrasa. Richard

"The resource industries in Canada are facing increasing global competition and stringent environmental regulations. This has made it essential for companies to lower operating costs wherever possible. Electrical energy rep-resents one variable cost that may be better managed and utilized, providing the user with lower operating costs, improved productivity and better yields.The utility industry is also facing changes in the way it must do business. Utilities in North America are facing the prospect of deregulation that will eliminate the monopoly they have traditionally held. This will force them to strive for lower operating costs, to maintain a competitive position and to improve customer ser-vice so as to maintain their customer base.Ontario Hydro has been working with industry for several years. Many opportunities for cost savings have been identified involving energy efficiency, process improvements and the use of new electro technologies. One useful service that the utility can offer industry is to increase the awareness of potential opportunities suited to their operations. This paper will provide an overview of some of the projects that have been implemented and those that are presently being evaluated. An electronic data-base of electro technology applications that is under development will also be described."

Jan 1, 1996

By Robert D. McKellar, Luke Frawley, Richard Okrasa

"The resource industries in Canada are facing increasing global competition and stringent environmental regulations. This has made it essential for companies to lower operating costs wherever possible. Electrical energy rep-resents one variable cost that may be better managed and utilized, providing the user with lower operating costs, improved productivity and better yields.The utility industry is also facing changes in the way it must do business. Utilities in North America are facing the prospect of deregulation that will eliminate the monopoly they have traditionally held. This will force them to strive for lower operating costs, to maintain a competitive position and to improve customer ser-vice so as to maintain their customer base.Ontario Hydro has been working with industry for several years. Many opportunities for cost savings have been identified involving energy efficiency, process improvements and the use of new electro technologies. One useful service that the utility can offer industry is to increase the awareness of potential opportunities suited to their operations. This paper will provide an overview of some of the projects that have been implemented and those that are presently being evaluated. An electronic data-base of electro technology applications that is under development will also be described."

Jan 1, 1996

By K. Chattopadhyay

Fluid flows in metallurgical reactors play a vital role on liquid metal cleanliness for both ferrous and non-ferrous metallurgy. Thus, it is absolutely critical to understand different fluid flow mechanisms, and the use of computational methods to model the complex non-isothermal, turbulent, single- and multiphase-flows, has to be appreciated. The present case study emphasizes on controlling the flow of liquid steel in a tundish and enhancing liquid metal cleanliness. CFD modeling was used to build a robust mathematical model, and effects of flow control furniture and non-isothermal conditions were analyzed. The mathematical model was validated against water model experiments. Parameters that were conducive for inclusion removal were identified and implemented in the plant. Some flow control devices could increase inclusion removal to a great extent compared to the existing configurations. In cases, where a hot ladle was poured into a relatively cooler tundish, inclusion removal was better, whereas results were catastrophic in cases where colder liquid was poured from ladle to the tundish. Similar techniques can be applied for other liquid metals including light metals and non-ferrous metals.

Jan 1, 2015

By R. D. Brown

The first step in achieving a rationalization of Canada's crazy patch-work quilt of mining taxes and policies was achieved with the release last November of a major federal-provincial report on the taxation of the Canadian mining industry. The Report, prepared by a group of federal and provincial civil servants, sets out a concise and informative discussion of the major taxation and incentive issues facing the mining industry, and puts forward major recommendations for more rational and moderate taxation policies. It will be considered by federal and provincial Finance and Resource Ministers for possible action by the respective governments. The Report was prepared in response to a directive from the federal and provincial First Ministers in February 1978 to review the federal and provincial taxation of the resource areas. Although the Report is more successful in identifying problems rather than concrete solutions, and reflects some continuing differences of opinion between the governments involved, it does represent an important first step in a comprehensive review of our resource tax policies. This article summarizes the Report, which is some sixty pages in length. Although a detailed discussion of it is beyond the scope of this article, the report itself is recommended reading for those concerned about the current state of the Canadian mining industry.

Jan 1, 1979

By B. C. Tripathy, S. K. Padhy, R. K. Paramguru, Pinak Patnaik

"Cobalt is regarded as technology enabling metal among the less abundant metals found in the earth crust. Electrodeposition of the metal from aqueous sulphate solutions is the preferred technology for its commercial production. Certain additives are added in the electrolytic bath during electrodeposition for the production of uniform, smooth and bright deposits of cobalt metal with higher current efficiencies and lower energy consumptions. A detailed investigation has been carried out to determine the effect of additive Sodium octyl sulphate (SOS) on the electrodeposition of cobalt. The results indicated that the additive apart from increasing the current efficiency enhanced the quality of cobalt electrodeposits. A maximum current efficiency of 98.4% was achieved at 10 mg/L SOS. The presence of SOS in the electrolytic bath did not result in any noticeable change in the crystal orientation of the cobalt electrodeposits except at higher concentrations (50 g/L) of the additive. Scanning electron micrographs indicate that smooth, compact and uniform deposits of cobalt were obtained at 10 mg/L of the additive beyond which there is detoriation in the quality of deposits. Polarisation of the cathode was seen in the presence of SOS. The effect of SOS on the electro kinetic parameters: Tafel slope (b), transfer coefficient (a) and exchange current density (I0) has also been investigated.INTRODUCTIONCobalt is recognised to be a strategic metal among the various base metals, owing to its numerous applications in various industries. Cobalt as a metal finds its use in the preparation of rechargeable batteries, as an alloying component in the manufacture of space craft and jet engines, as a drying agent for paint varnishes, ground coats for porcelain enamels and in the manufacture of the catalysts for the petroleum and chemical industries (Davis, 2000). Although there is a huge demand of the metal the supply of the metal is limited due to its scarcity in the earth crust. The metal comprises of only 0.02% of the earth’s crust for which the metal is recovered from various ores of nickel and copper as a byproduct (Hawkins, 1998). The present day techniques for cobalt production includes mostly hydrometallurgical methods which are preferred over the earlier used pryometallurgcial methods carried out for the metal production. Almost 70% of the world’s cobalt produced currently is from hydrometallurgical techniques in which electrodeposition of the metal from aqueous solutions is the final step for metal production (Verney, 1988). The most preferred route for electrodeposition of cobalt metal involves a sulphate medium (Das and Subbaiah, 1984; Lenthall and Bryson, 1997; Sharma et al., 2005)."

Jan 1, 2016

By N. Bahrani

Knowledge of the state of stress in the Earth?s crust is very important to the safe and efficient development of underground excavations in mining and civil engineering projects. A number of methods have been developed over the past 40 years to assess the stress field in the rock mass. These range from local estimates derived from compilation of regional stress databases to back-analysis of field observations to dedicated in situ measurements. The Geomechanics Research Centre (GRC) at MIRARCO has a long history of undertaking in situ stress characterization and measurement. In this paper, the stress measurement techniques used by the GRC, including overcoring and undercoring in addition to borehole breakout back-analysis, are briefly reviewed. The limitations and application of each technique for different ground conditions and the challenges involved during the field work and in interpretation of the results are discussed. A successful stress measurement campaign is not limited to acquiring valid local measurement, but must include a careful interpretation and integration of the measurement with other geological and geotechnical context information. Based on our experience, it is suggested that all available stress indicators and data are combined and integrated with the local geological and geomechanical conditions to derive a consistent stress characterization for a given site.

Aug 1, 2013

By J. F. Liu, L. Chen, C. P. Wang

"Calcite-cemented joints abound in the rock masses of Beishan area, which is the most potential area for the high-level radioactive waste (HLW) disposal of China. The mechanical properties of Beishan granite containing a calcite-cemented joint with a dip angle of 82° was investigated under uniaxial compression and the acoustic emission (AE) characteristics were also studied in this paper. Compared to intact granite, the calcite-cemented joint caused a decrease more than 50% in uniaxial compressive strength and a decrease more than 90% in shear strength. The Young’s modulus was also decreased, while the circumferential deformation of jointed granite was sharply increased. The AE monitoring system successfully recorded the process of micro-crack development and the results indicated that the risk of rock-burst could be reduced due to the appearance of calcite-cemented joint.INTRODUCTIONThe properties of jointed rocks differ considerably from that of intact rock. Due to the difficulties in specimen preparation, analogue experiments with artificially prefabricated fractures are often used to study the mechanical behavior of jointed rock (Chen et al. 2012; Kulatilake et al. 2001; Singh et al. 2001). However, natural joints are not quite similar to the artificial fractures and it is necessary to investigate the mechanical behavior of jointed rocks. Xie et al. 2011 studied the mechanical properties of marbles with natural joints by uniaxial compression tests and found that the uniaxial compressive strength of jointed rock is greatly decreased. With the unaxial compression tests, Jacobsson 2005, 2007 tested the intact and jointed granites, which were taken from the potential site for high-level radioactive waste (HLW) disposal of Sweden. However, no significant difference in strength or modulus was found. The above research results are inconsistent and it indicates the complexity of the mechanical properties of natural joints."

Jan 1, 2015

By P. Mengé

The covering of a hydraulically filled goethite pond is discussed from a geotechnical point of view. The characteristics of the goethite were defined in order to allow a detailed study of the procedure for the construction of the cover on top of the soft material and a verification of the stability of the cover and side slopes after construction. These characteristics and the main results of the studies are given, as well as the experiences and observations made during the execution of the work. Finally, the monitoring plan, during and after construction, is also discussed and some results are given. The 'Design and Construct' contract form was used to allow the contractor to choose the optimum and most economical method to realize the closing of the pond, based on his experience with similar projects. The works were carried out between mid 2003 and the end of 2004. The paper will, amongst others, discuss the special method of working that had to be developed to allow the covering of the whole pond in a relatively short time period, without soil improvement methods such as vertical drains or stabilization by in situ treatment. Fill material was used to establish a platform on top of the soft material so that the cover liner and finishing layer could be installed on top of the fill layer. The 'floating roof' principle was used; subsidences were allowed to occur during the installation of the impermeable top liner and soil cover.

Jan 1, 2006

ONE of the morning sessions at the recent Annual Meeting was devoted to a Symposium on ways and means to expedite geological investigation, and also to promote greater prospecting activity, in Canada. It will be recalled that at the 1940 Annual Meeting, held in Winnipeg, a paper(l) prepared by Dr. G. A. Young, Chief Geologist of the Geological Survey, was presented, and was followed by a Symposium on Geological Investigations in Canada(2). On that occasion, the participants were in the main geologists, and they included the directors or other officials of each of the Provincial departments or bureaus of mines. At the Montreal meeting, the subject was discussed mainly from the point of view of the mining industry. The following pages present, in somewhat summarized form, the several contributions to that discussion.-ED. DR. J. J. O'NEILL(3), who was to have opened the Symposium, was unfortunately prevented through illness from attending the meeting. He had intended outlining the main features of his paper on The Exploitation and Conservation of Mineral Resources in a Balanced Development of Canada, presented at the last annual meeting of the Royal Society of Canada( 4). In his absence, DR.J. A. DRESSER presented a summary of the paper.

Jan 1, 1941

By P. Mageau-Béland, È. -M. Proulx, M. -C. Patoine

Over the past six decades, Hatch has helped several industrial processing facilities in debottlenecking their operations, allowing them to produce more with the same equipment, to reduce and even eliminate expenditure investments, or to increase the return value of their expansion projects. These successes result from the application of a proven analysis approach that can be applied to any industrial facility. A five-stage methodology is discussed and demonstrated with a specific example of a nickel concentrator optimization study. The first stage is an observation stage which allows to meet key actors at the plant, develop mutual understanding of problems, understand operating philosophy, and efficiently collect large amounts of operating and maintenance data. Following is a data compilation stage during which data is analyzed over a representative time period to identify parameters that significantly affect the production, to evaluate data reliability and to define the focus of the upcoming analysis. Quantitative metrics are defined using statistical tools such as pivot tables, histograms, percentiles and MDR (Maximum demonstrated production rate during 3 to 7 consecutive days). Then, the production bottlenecks are identified by a thorough analysis of the facility’s control philosophy, process throughput, equipment capacity, availability, downtime causes, and interaction between components of each circuit. Understanding the maintenance practices and frequency of planned shutdown is also critical to this analysis. Opportunities for improvement are identified in collaboration with the operation, maintenance and engineering teams, ranked as a function of their impact on the bottlenecks and prioritized. The final and most critical stage involves engagement with the plant stakeholders, namely the operators and the maintenance staff members, to present the results of the analysis and obtain their participation in the implementation of the solutions. The benefits of the case study translated into: 10% production capacity gain, improved maintenance planning and avoidance of several million dollars of investment.

Jan 1, 2016

By Maurice Lauzon

"Aerial surveys of the open pits have been conducted regularly at Lake Asbestos of Quebec, Ltd. -a subsidiary of American Smelting and Re-fining Company -since 1958. Ground controls are supplied by Lake Asbestos, and a topographic map of the pits at a scale of 1 in. to 50 ft., with 2-foot contour intervals, is obtained by aerial photography. The information from the topographic map is then transferred by the Lake Asbestos engineering staff to sections from which the volumes removed are calculated. Considering the size and complexity of the operation, this system has proved to be the cheapest, fastest and most accurate way of determining the quantities of rock and overburden removed. More than 11,000,000 tons of ore and waste are mined each year in three different pits. Further-more, the nature, shape and extent of the orebodies make it necessary to mine on many (up to eight) benches of a pit during a single year. In addition, there are sections of the pits where it is impossible or un-safe to survey the crest of some benches by standard ground methods. For these reasons, the tonnages obtained by truck count are checked and adjusted by aerial survey. These surveys are now taking place every six months. With this system, it is possible for a two-man surveying crew to look after all field work in the mine area."

Jan 1, 1967

By Pierre Buteau

Peat/ands distribution in Canada is widely spread thoughout the country and corresponds to a wide spectrum of wetland habitats which overlay peat deposits. The development and the evolution ofpeat/ands and peat deposits are closely linked together, since the vegetal remains of the peat deposits originate from the peatland habitats, and the peatland habitats constitute a response to many factors, including the properties of the substrate, which are the peat deposits. Peat/ands are defined as waterlogged terrains where the production of plant materials usually exceeds the rate of decomposition. The underlying peat deposits consists of organic residues associated to peatland vegetation, more or less decomposed, built up and kept under anaerobic conditions. Peat/ands evolution and distribution are determined primarily by climatic factors, but also by the geomorphology and edaphic conditions. All of these create particular hydrodynamical environments which will vary according to different regional settings, and sequentially to an evolutive time frame.

Jan 1, 2001

By Wm Petruk

"The tungsten-bismuth-molybdenum deposit in southwestern New Brunswick occurs in greisenized and silicified tuffite * and feldspar porphyry in and adjacent to volcanic necks. The ore minerals occur as veins and veinlets and as disseminated grains in gangue. These minerals can be grouped into three assemblages. Assemblage 1 consists of oxides and phosphates of W, Ti, Fe, Nb, Sn, Ta and rare-earth elements, with the main minerals being deposited in the sequence wolframite, rutile, cassiterite. Assemblage 2 consists of arsenopyrite, molybdenite and bismuth, and assemblage 3 of sulphides with minor cassiterite and arsenopyrite. Sphalerite is the main sulphide mineral, but it contains minute inclusions of copper-tin- and indium-bearing minerals. Textural relations suggest that most of the elements can be recovered from this ore by conventional mineral beneficiation and extraction methods, but a variety of techniques must be employed. It is expected that the wolframite and molybdenite can be recovered satisfactorily, but poor recoveries are expected for bismuth and cassiterite. A sphalerite concentrate can be readily obtained by flotation, but it would contain a wide variety of elements. It is suggested that leaching be used to recover the bismuth and the elements in the sphalerite concentrate."

Jan 1, 1973

By F. D. Ball, D. E. Gemmell

"Coal mining in New Brunswick dates from the year 1639, when, as today, coal was produced from the area surrounding Grand Lake near the geographic centre of the province. Current production by N.B. Coal Ltd. is approximately 453,000 tonnes per year and comes from a single, thin Pennsylvanian age seam. The history of development and understanding of the geological setting of New Brunswick coals is discussed, beginning with the work of A. Gesner in 1839. The lithostratigraphic sub-divisions of the Pennsylvanian strata proposed by various workers are summarized and the present hypothesis that only biostratigraphic subdivision is possible is detailed. The Pictou Group, which includes the New Brunswick coals, consists of repetitive sequences of sediments consistent with flu vial and upper delta plain sedimentation. The development of coal mining in the province has progressed from horse-powered stream-bank stripping operations prior to the late 1800s through to the present use of open stripmining techniques utilizing eight walking draglines of various sizes. During the intervening years the introduction and eventual phasing out of underground mining occurred with the near termination of the coal mining industry in the province prior to 1973. The coal seam worked by N.B. Coal Ltd. averages 46 cm in thickness, has never been found to be more than 76 cm thick and has both high ash (12.4 -31.1%) and sulphur (4.9-7.8%) content. The wide variety of coal beneficiation studies and tests completed on New Brunswick coals have lead to the conclusion that a washed New Brunswick coal product could be expected with 10 to 12% ash, 5 to 6% sulphur, and 30,225 to 31,388 1/gm. Recoverable coal reserves, including those in the area licenced to N.B. Coal Ltd. and those licenced, although not yet in production, to both the St. Lawrence Cement Co. Ltd. and Provincial Holdings Ltd. at Lake Stream and Beersvil/e, total 60 million tonnes. At present, coal in New Brunswick is removed from prospecting and staking and all existing and future coal exploration and development will be administered by agreement under the Mining Act. Based on the results of a recently completed drilling project undertaken by the Department of Natural Resources, seventeen coal exploration blocks which carry minimum work commitments will be offered to the New Brunswick Electric Power Commission on a sixty-day first right ofrefusal basis. Those blocks not taken up by the Power Commission will be offered under the same commitments to the private sector."

Jan 1, 1985

By A. H. C. A. Zimmerman

WE have just heard what must be regarded as a thoughtful, constructive and somewhat painful analysis of the financial function of our industry. While thinking about this, it is interesting to reflect on the conditions which have stunted the growth of the financial side of our affairs. Mining must be regarded as a wealthy business. •while immeasurable grub takes and development budgets have been lost, there can be little argument that a productive ore-body nearly always produces the type of wealth that breeds some extravagance. I recognize that this statement can be attacked from many sides, but an historical comparison with a commercial enterprise involving similar investment will demonstrate what I mean. However, these old times are be-ginning to disappear for a variety of reasons. High amongst these are: ( l) Increased costs of exploration. (2) Remoteness of many new finds. (3) Fixed or declining metal prices (particularly when expressed in constant dollars). ( 4) Constant demands for higher wages.

Jan 1, 1962