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By Karl J. C. Harries

13.1. RIGHT TO RECEIVE ROYALTY CONTRACTUAL ONLY1

Jan 1, 2003

By Walter Fuchs

IT is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one. if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. SYNOPSIS OF BIOLOGICAL AND CHEMICAL FACTS The biosphere is not sterile; i.e., microorganisms are always present. Microorganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life-proteins, fats, carbohydrates, lignins, waxes, resins may serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate. l7,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1941

By Harold J. Rose

The economic situation in Switzerland during recent years has resulted in theoretical studies , engineering development work , and many commercial installations of ingenious methods for using energy more efficiently . The purpose of the present investigation was to learn of recent Swiss developments for the more effective use of coal , which comprises 98.9 percent of the romaining known mineral - fuel reserves of the United States .

Jun 1, 1947

By Walter Fuchs

IT is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established .R3 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. SYNOPSIS OF BIOLOGICAL AND CHEMICAL FACTS The biosphere is not sterile; i.e., microorganisms are always present. Microorganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life-proteins, fats, carbohydrates, lignins, waxes, resinsmay serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1941

By Knevitt L. T

PART 1Details of Kiewa Scheme.Introduction.Topography.Preliminary Investigations.Geology.Description of Project.Details of Main Works.Main Transmission of Power.Construction Facilities.PART 2Underground Works.Summary of Projected Works.Administration.Labour.Surveying.Safety and Accident Prevention.Medical Attention and First Aid.PART 3No. 4 Head Race Tunnel.Summary.Geology.

Jan 1, 1950

By R. C. Troxell, S. C. Sun

EFFORTS to obtain definite quantitative data when employing the currently used bubble pick-up method1,2 as a pre-flotation investigation tool led to the adoption of the magnifying mirror method and the microscopic method modifications. Quantitative data obtained by these two methods were converted into bubble pick-up indices and bubble pick-up coefficients. Rough correlations were established between the calculated indices and the results of contact angle testing as well as actual flotation under the same conditions. The basic steps of the magnifying mirror method are as follows: 1—mixing 200 ml distilled water, sized and cleaned mineral particles of approximately 0.5 g, pH regulator, and flotation reagents in a glass beaker; 2—swirling the mineral particles to the center of the beaker to leave a clear circumference; 3—pressing an air bubble against the mineral particles for about 1 sec, and then moving the mineralized air bubble to the clear part of the beaker; and 4—dropping all the attached mineral particles of the air bubble by tapping the bubble holder, and counting the number of the dropped particles by looking at the magnified image in the mirror positioned beneath the beaker. This method is impractical for mineral particles which are transparent in water or finer than 200 mesh. The microscopic method is essentially similar to the above described magnifying mirror method, with the exception that the mineralized air bubble was drawn up into the bubble holder and subsequently discharged onto an externally placed watch glass, where the number of pick-up particles was counted with the aid of a microscope or hand lens. Drying was necessary when the discharged liquid interfered with the counting. The results of the bubble pick-up tests can be simply expressed in the form of the actual count. However, this can be misleading because the number of pick-up particles varies not only with the size of bubble but also with the size of particles. This short-coming is largely remedied by the use of the bubble pick-up index. as calculated from the following equation: PI = (pn/p) 100 [1] in which PI and pn are respectively the pick-up index and the number of pick-up particles under any test conditions, and p is the maximum number of pick-up particles of the same mineral under optimum flotation conditions, with the same size holder and particle. The bubble pick-up coefficient is a term coined to denote the difference between the bubble pick-up index of mineral particles in a liquid and that of the same mineral-liquid mixture plus a chemical reagent at the same pH value. For example, the difference between the pick-up index of a naturally floatable bituminous coal in a solution of water and kerosene and that of the same coal in water alone is a bubble pick-up coefficient. Compared with the contact angle method, the quantitative bubble pick-up method is inferior in accuracy but superior in sensitivity. Other advantages of the bubble pick-up method are that the apparatus can be easily assembled, the mineral sample is conventionally prepared, and the test procedure is relatively simple. References S. R. B. Cooke: The Flotation of Quartz Using Calcium Ion As Activator, Trans. AIME (1949) 184, p. 306. 'G. A. Last and M. A. Cook: Theory of Collector-Depressant Equilibrium at Mineral Surfaces. Paper presented at St. Louis Meeting, AIME (February, 1951).

Jan 1, 1954

By Ronald W. Stingelin

This study undertook the development and implementation of a methodology for estimating the impact of coal seam interaction on the eastern bituminous underground reserve base as published in USBM Information Circular 8655. The effects of previous mining in multiple coal seam areas on currently mined and reserve seams are predicted as a percentage coal loss by an engineering assessment model called the Coal Loss Calculation Model. The model utilizes twelve input variables easily derivable from mine maps or other existing data sources and calculates the effects of subsidence and high-stress due to remnant pillars in the previously mined seam. Extensive literature review resulted in the identification, definition, and quantification of the critical variables of seam interaction. Export opinion surveys were made of mining experts, MESA mine inspectors, and coal mine operators. Statistical analysis was used to establish the redundancy of the critical variables and to develop a total coal loss prediction algorithm. A regional analysis resulted in the production of a series of thematic maps on coal characteristics and distribution. A derivative map showing the areas of commonality within the eastern bituminous coal region served as the basis for implementation of the coal loss calculation model. The model was developed and tested using data from four coal mines in western Pennsylvania and southern West Virginia.

Jan 1, 1976

By Gaudin. A. M., S. C. Sun

THIS paper presents the results of a study of the relationship of the electrokinetic or zeta potential to flotation phenomena. The relationship is established on the experimental evidence that mineral behavior in flotation and in cataphoresis is generally governed by the chemical properties and amount of the reagents adsorbed at mineral surfaces. Cataphoresis1-5 or electrophoresis is the name given to the movement of a charged particle in a liquid medium under the influence of an applied electric field. Mineral behavior in cataphoresis, as indicated by the magnitude and sign of its ionic charge, can be represented by the term zeta potential. In this paper, the zeta potential represents the difference in potential between the immovable liquid layer attached to the surface of a solid particle and the movable liquid layer in the body of the liquid, and is the result of the tendency of ions on the surface of the particle and within the liquid boundary layer to establish a condition of equilibrium. A high positive zeta potential means that the mineral surface is dominated by cations, a high negative zeta potential indicates domination by anions, and a low zeta potential indicates that the surface is influenced almost equally by cations and anions. In terms of observed quantities the zeta potential is given by the relation [z = 47ruu(300)$ Kx] in which z is the zeta potential expressed in in volts, u the viscosity of the solution in poises, u the velocity of particles in centimeters per second, x the impressed potential gradient in volts per centimeter, and k the dielectric constant of the solution in c.g.s. units. A convenient source for the derivation of the equation is the book by Thomas,6 The term zeta coefficient is an expression coined to denote the difference between the magnitude of the zeta potential of a mineral suspended in solution A, and that of the same mineral suspended in solution B, which consists of solution A and an additional chemical agent, but is at the same pH. For example, the difference between the zeta potential of galena particles in distilled water and that in any chemical solution at the same pH is a zeta coefficient. Or, when the zeta potential of a mineral particle is measured first in distilled water, then in a mixture of water and copper sulphate, and finally in a mix-

Jan 1, 1946

By James Dunn

“The strongest argument of the detractor (of mining)is that the fields are devastated by mining operations ...They argue that the woods and groves are cut down, for there is need of an endless amount of wood for timbers, machines and the smelting of metals. And when the woods and groves are felled, then are exterminated the beasts and birds, very many of which furnish a pleasant and agreeable food for man. Further, when the ores are washed, the water which has been used poisons the brooks and streams, and either destroys the fish or drives them away.” Georgius Agricola, 1556, De Re Metallica, translated by Hoover, 1950. Technical problems associated with the cleanup of historic mines are not new. Nor are they unique to the mining industry or the governmental agencies addressing them. Both face the same issues and challenges of defining the problems, evaluating remediation options and finding the most economic and effective solutions.

Jan 1, 1999

What is a nugget effect? In the early development of geostatistics, the term ?nugget effect? was coined for the apparent discontinuity at the beginning of many semi-variogram graphs. This name was chosen to reflect the large differences found between neighbouring samples in ?nuggety? mineralizations such as Wits gold reefs. Geostatistical theory assumes that the difference between a sampled value and a potential repeat sample at the same location is actually zero. Included in this ?nugget effect? would be true variation between contiguous samples due to the nature of the mineralization, micro-fracturing, nugget or crystal size and so on. Also included in the nugget effect would be any ?random? sampling variation which might occur due to the method in which the sample was taken, the adequacy of the sample size, the assaying process, etc. Arguments were put forward that ?sampling errors? actually exist at zero distance. Some geostatistical schools actually maintain that ?nugget effect? is all sampling error. This would imply that ?perfect? sampling would eliminate the nugget effect entirely. There is now a dichotomy both in the geostatistical world and in the software packages provided for geostatistical analyses. It may seem academic to argue over whether the semi-variogram model should take a value of zero, a value equal to the nugget effect or a partial value at distance zero. However, the decision can have a profound effect on both the estimated resource and in our confidence on that resource. Whereas most geostatistical texts define the semi-variogram model as taking the value of zero at zero distance, others imply that the full nugget effect should be used at zero distance. For example: ?The nugget effect refers to the nonzero intercept of the variogram and is an overall estimate of error caused by measurement inaccuracy and environmental variability occurring at fine enough scales to be unresolved by the sampling interval3. ?Christensen4 has shown that the ?nugget effect?, or non-zero variance at the origin of the sernivariogram, can be reproduced by a measurement error model. ?The nugget effect is considered random noise and may represent short-scale variability, measurement error, sample rate, etc.5. In many training texts and web courses, the definition of the semi-variogram is ambiguous as the formulae for semi-variogram models is not actually specified at zero distance6,7,8.

Jan 1, 2009

By John H. Weigand, Stephen V. Crum

"VIBRONICS, INC. instrumented and monitored a residential structure for response to,blasting at aMidwestern surface coal operation. The residence was owned by the mining company and was extremely close to the operation. Blasting was conducted within 120 feet (36.5 meters) of the test structure. Up to seventeen (17), four (4)-channel seismographs were used during the monitoring period. The basement walls and floor were monitored. VIBRONICS, INC. also monitored a brick chimney in the basement and attic. Structural responses were then compared to outside vibration measurements taken in the soil near the foundation."

Jan 1, 1998

By James R. Dunn

Samples were taken of industrial mineral waste materials which are potentially capable of being used for filling underground coal mines for subsidence control in the Pittsburgh and the Scranton-Wilkes Barre areas of Pennsylvania. The samples were subjected to potentially relevant standard tests which are commonly used 1n the evaluation of soil materials and mineral "aggregate materials. Measurements of plasticity, liquid limit, and gradations, particularly in the -200 mesh size range, indicated a comparative lack of clay minerals. Cementitious reactions between sources of alkali, such as calcium hydroxide or portland cement stack dust, and of silica, such as clay or fly ash, were found to occur in various mixes of high-bulk materials. Strengths of up to about 400 psi at 84 days were observed. The possibility of emplacement of high-bulk material by both turbid flow (or density currents) below water and by mud flows above water were considered and both appear to be reasonable and possibly simpler than the current mechanisms of emplacement.

Jan 1, 1977

By S. R. S. Sastri

By using the data of E.A. Hersam and F.C. Bond's equation for energy consumption in comminution, a method was developed to analyze the performance of industrial jaw crushers. The study showed that industrial jaw crushers are generally operated below capacity. The study also showed that industrial jaw crushers generally have sufficient installed power to operate at, full capacity. The method presented can be used to estimate the capacities and power requirements of jaw crushers.

Jan 1, 1995

By G S. Anderson, N W. McDonald

"The IsaMill™ was originally developed to address liberation issues at Mount Isa Mines (now Glencore) operations, McArthur River and Mount Isa in the early 1990s. Following on from the industrial success at those operations, the IsaMill™ was commercialised. In the year 2000, Kalgoorlie Consolidated Gold Mines (KCGM) became the first external user of the technology with a 1.1 MW M3000 IsaMill™ installed to supplement the roaster capacity at its Gidji Processing Plant. The IsaMill™ was used to ultra-fine grind about 10 t/h of pyrite flotation concentrate to 10–12 µm prior to gold cyanide leaching. Based on the success of the Gidji installation, another was installed at the processing plant at KCGM’s Fimiston operation in 2002 in a similar duty.In 2014, a 3 MW M10 000 IsaMill™ was selected to replace the roasters at Gidji as part of the A$98 M emissions reduction project. The mill was commissioned in April 2015 at the design 30 t/h, allowing the immediate shutdown of the two roasters. Replacement of roasting with ultra-fine grinding completely eliminated air emissions at Gidji while maintaining overall plant production rates.This paper details the history of the IsaMill™ at KCGM from the original M3000 to the latest M10 000. It covers the basis of the process selection, circuit design, operating and maintenance data.Citation:Anderson, G S and McDonald, N W, 2016. IsaMill™ at Kalgoorlie Consolidated Gold Mines - from the M3000 to the M10 000 and Replacement of the Roasters at Gidji Processing Plant, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 29–38 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By Walter Fuchs

It is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. Synopsis of Biological and Chemical Facts The biosphere is not sterile; i.e., microorganisms are always present. Microor- ganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life—proteins, fats, carbohydrates, lignins, waxes, resins— may serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1942

By Walter Fuchs

It is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. Synopsis of Biological and Chemical Facts The biosphere is not sterile; i.e., microorganisms are always present. Microor- ganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life—proteins, fats, carbohydrates, lignins, waxes, resins— may serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1942

By R. Adsero

"A high altitude review of the state of the mining industry provided by a study of multifactor productivity shows a continuation of lower output year on year for the capital and labor inputs applied. The story is sadly similar for both U.S. mining and the Australian mining sector. In fact, according to PwC analysts, the world’s mining equipment productivity has declined 20 percent during the past seven years (Lumley, 2014). Although the reasons for the continuing decline in mining productivity are varied, the need for improvement is clear.The world’s mining industry fleet of more than 400 large draglines moves billions of tons of overburden and ore (phosphate, limestone, etc.) annually. This discussion will review a few of the tools available for improved productivity in dragline operations.Benchmarking equipment performance exposes the possibilitiesIn the September 2013 Mining Engineering cover story Graham Lumley and R. Adsero suggested that analyzing best practice equipment performance from an industrywide database for specific equipment performance improvement goals would be beneficial (Adsero, 2013). Benchmarking equipment performance by normalizing differences and then comparing specific measures of performance will provide a road map to improvement for those following the leaders. For those already performing at best practice levels, a benchmark confirms and bolsters what has already been achieved. As described in the SME February 2014 paper by this author, best practice is the average of the top 10 percent in annual output. Filling performance gaps identified by a comparison to best practice by investigating the details of the why and taking action to change, makes all the difference. This is true for all major mining equipment. Given the large gap between average performance and best practice performance most mining operations can benefit. Best practice performance provides a view of what is possible to the 90 percent majority of mining operations that are performing below the top 10 percent.For dragline mining operations, identifying specific characteristics and practices of leading dragline performance will provide a reference for comparison."

Nov 1, 2016

By David G. Dixon, Maziar Eghbalnia

"Gold and silver nanoparticles (NPs) were deposited on pyrite at ambient temperature from colloidal solutions prepared by reduction of hydrogen tetrachloroaurate or silver nitrate by sodium sulfide or sodium tetrahydridoborate. The nanoparticles were characterized using Ultraviolet-Visible (UV-Vis) spectroscopy and the experimental spectra were fitted using Mie - Gans modeling. The modified pyrite was investigated using Electrochemical Impedance Spectroscopy (EIS). Electrodes were prepared from both natural and modified pyrite samples and were modeled using an equivalent circuit (EC) based on the EIS data. The comparison of the results revealed a decrease in charge transfer resistance for the ferric ferrous redox couple associated with the modified pyrite. From this behavior it is concluded that the electronic transport between the nanoparticles and the electrode surface over distances in nanometer scale is enhanced. Nanoparticles below a certain size act as quantum dots due to electronic confmement. Decreased charged transfer resistance at the nanometer scale may be caused by electron transport through tunneling mechanism via quantum dots.IntroductionIn recent years, considerable attention has been focused on the synthesis and study of Metal nanoparticles due to their potential applications in the fields of physics, chemistry, biology, medicine, material science and their interdisciplinary fields[!]. When material is nano-sized, the physical properties deviate markedly from those of bulk material, however, this effect is highly dependent on the particle size, interparticle distance, and morphology of the nanoparticles [2].An extremely small region of space defmed in a semiconductor material in order of nanometers is called a quantum dot, a term coined by Reed [3]. The three dimensional confinement of quantum dots can change properties of the excitons in comparison to free excitons in a bulk material [4]. Nanoparticles behave electronically as zero-dimensional (restricted in all three dimensions) quantum dots when the de Broglie wavelength of the valence electrons and the particle are in the same size range.As Reed [3] explains electrons confined in a plane have no freedom to move the third dimension. Those confined in a quantum wire are only free to move in one dimension, and those confined in a quantum dot are not free in to move in any dimension. An electron inside a cube of material IO nm on a side is confined to a point."

Jan 1, 2012

By John K. Gustafson

The title of my talk is "The Gold Miner and the Future of Gold." This title might just as accurately have been stated as "Gold and the Future of the Gold Miner." Since prehistoric times gold has been sought by mankind for its beauty and its unusual physical and chemical properties. Early in the dawn of civilization it became the ultimate unit of value and lubricated trade between peoples. For at least 6000 years, gold has been used to barter for other commodities. It has been prospected for, treasured, made into works of art and personal adornment, and from time to time has been the object of conquest. Because of its predominant role in recent centuries as a basis for money, economists began to think of it solely in these terms. Annoyed by the disciplinary pressure of gold on the money manager's desire to manipulate money, the famous economist, John Maynard Keynes, characterized it as a "barbaric relic of the past", a characterization repeated by William McChesney Martin, Jr., when he was head of the Federal Reserve Bank. Gold, however, has physical and chemical properties that make it one of the most useful metals in the modern world.' It is the most ductile metal known. An ounce of gold, for example, can be drawn into a continuous wire over 35 miles long. It also is so malleable that an ounce of gold can be beaten into films ten one-millionths of an inch thick sufficient to cover 68 sq ft of surface. It has a density of 19.3 and is so heavy that 1 cu ft of gold weighs more than half a ton. Gold is nonmagnetic and has a high electric conductivity, only slightly less than silver and copper. Gold is so inert to all the chemicals found in nature that gold coins and jewelry buried beneath the soil or at the bottom of the sea for thousands of years appear to be as bright and perfect as when they were first immersed. Finally, gold has an extremely high reflectivity both to light and infrared rays. Because of these qualities, in addition to its rare beauty, industrial and artistic uses of gold have been growing rapidly. On a world basis, a recent study estimated that in 1960 about 750 tons of gold were used for fabrication, and that the amount had grown to about 1296 tons in 1968. My objective in this talk is to discuss with you the present and future supply of and demand for gold on a worldwide basis and the effect these forces are likely to have on the price the miner can expect to receive for the gold he produces. This is a highly controversial and risky subject to discuss before any audience. Nevertheless, it is a subject that I live with constantly as Chairman of the

Jan 1, 1972

This summary of State laws or explosives was compiled primarily to ascertain what subjects relating to their control have been acted upon by each State legislature and, in general, how they have been treated. It does not include any legislation passed after 1942, or any proclamations, regulations, or administrative orders. It does not purport or attempt to be authoritative. If any problem arises involving interpretation of the statutes of any particular State, the original source must be consulted for the exact words used by the legislature. This summary, however, will be useful In determining whether relevant statutes exist, and In locating them quickly,-with a minimum of effort. It will be of value also in comparing statutes in one State with similar statutes in other States to determine what construction has been placed upon them by the courts of those jurisdictions or to contrast the varying provisions of many States upon a similar subject. To make these comparisons easier, the statutory provisions for each State have been grouped under several major topics in outline form. Although this sometimes has resulted in disruption of the continuity of individual acts, the increased general clarity and availability of comparable sections have more than justified the procedure followed.

Jan 1, 1943