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By E. J. Sides

In this paper, the argument is put forth that the codes used for public reporting of mineral resources and mineral reserves have some significant limitations with regard to the information provided to investors on the short- to medium-term value of mining properties. Such limitations include a) failure to explicitly incorporate a time element and b) failure to state explicitly the quantity and quality of mineral product that will be produced for sale. A time-value framework for reporting mineral assets is proposed in order to overcome these limitations. The proposed system is based on two classification axes: a) an X-axis representing time in years during which the value of the asset is likely to be realized and b) a Y-axis representing the value identified by a mining or exploration company\u2019s activities. The potential benefits of this system are discussed, including the ability to incorporate factors, such as permitting and construction times, directly into the magnitude of the reported mineral assets. The proposed framework would assist in the standardization of mineral assets reporting in such a manner that they could eventually be more readily included in financial statements. Year of Publication: Not explicitly mentioned in the document.

Jan 1, 2010

By Michael Poole, Joseph M. Chelini

Most earthmoving operations using off-road, rubber tired production equipment have abnormally high total tire costs. Achieving informational control over 7 direct and 2 indirect tire cost centers can reduce tire costs more than 50 percent; a 20 percent savings is often guaranteed. This is achieved by utilizing available computer software and implementing tire information management through the engineering deparatment.

Jan 1, 1983

By E. P. JENNINQS

(Cleveland meeting, October, 1912.) LARGE deposits of titaniferous iron-ore occur at Caribou, an old silver-mining camp in Boulder county, Colo., 17 miles west by south of Boulder, and a few miles northwest of the tungsten-mines. Professor Regis Chauvenet 1 published a part analysis of the ore many years ago, but gave no description of the wall-rock. Caribou hill, which contains both the silver-bearing veins and the iron-ore deposits, is a low dome of gabbro surrounded by the Archaean schists and gneisses of the Front range of the Rocky mountains, the peaks of which, a few miles west of Caribou, attain an elevation exceeding 12,000 ft. The gabbro stock is roughly elliptical in outline, with approximate diameters of 1 and 3 miles. The crest of the dome is 10,500 ft. above sea-level, and the town and ore-deposits are 500 ft. lower. Outcrops of the iron-ore occur in the town and extend NW. for 2,000 ft., where they disappear under the swampy meadows of Caribou park. Portions of the deposit are covered by drift, but one continuous outcrop is 900 ft. long and from 200 to 250 ft. wide. A second deposit is 0.25 mile south of the town along the eastern slope of the hill. It is not as well defined as the north bed, but is approximately 1,000 ft. long and from 100 to 200 ft. wide. The easily disintegrated ore does not form prominent outcrops, but the outlines of the deposits are readily traced by the large amount of ore fragments that cover the ground. Trenches and pits sunk on the outcrop expose a roughly banded magnetic iron-ore, with pyroxene as the principal gangue-mineral. The Gabbro. This rock was classified in the field as a gabbro from the presence of pyroxene and striated feldspars, and for convenience the field-name will be retained. 1 Chauvenet, Regis, Biennial Report of State School of Mines, Golden, Colo., p. 16 (1886).

Oct 1, 1912

By K. J. Stanaway

Environmental pressures on waste disposal are forcing pigment producers to use higher content TiO2 feedstocks with lower levels of trace elements. Despite this, 50% of the worlds TiO2 comes from ilmenite concentrates with only 37 -54 % TiO2 An industry growth rate of 25 % in the next ten years combined with trends to diminishing resources and lower grades for rutile (95 % TiO2) and leucoxenized ilmenite (55 to 90% TiO2) mean that unless new discoveries are made soon, the industry will become even more reliant on ilmenite. A hypothetical ideal feedstock is presented and strategies to obtain it are suggested. Reasons for some of the mineral specifications are given.

Jan 1, 1994

In responding to why some longwall roadway development rates are different among mines, the Roadway Development Task Group (RDTG) of Australian Coal Association Research Program (ACARP) has initiated a benchmarking study to survey each longwall mine to determine the correlation between roadway development practices and roadway development performances. This paper describes a web-based relational database system which has been developed purposely to monitor the performance of Australian longwall roadway developments aimed at assessing both the physical and operational factors which could influence roadway development practices and their performance indicators. Statistical analysis of an earlier survey suggested that continuous miner units that achieved more than 1750 m were units mining two-heading development.

Dec 6, 2010

By N Burgio

Block cave mines are often thought of as rock factories where high volumes of production are mined from a fixed area suggesting little requirement for geological input and control. Yet caving operations have peculiar and specific technical requirements from prefeasibility through to post-mining reconciliation. Whilst essential elements such as resource definition, geological interpretation and sampling strategies are common to all mining methods, planning for a block cave requires a different emphasis and philosophical approach in how we deal with these issues. We will examine why a geoscientist’s input is critical towards the successful planning, design and monitoring of a caving operation.

Aug 22, 2011

By Leon Lorenzen, Victor E. Ross, Anton W. Kleingeld

Key to successful innovation, whether at organization, industry or national level, is the alignment and utilization of resources in the most appropriate and efficient way. Innovation needs to be directed strategically, and it needs to be auditable in a systematic and integrated fashion. In the light of these considerations, this paper describes the construction and use of a topographical map of the innovation landscape. The purpose of the map is to provide a holistic view of the key factors that enable innovation (the so-called ’landmarks’), how well they are aligned to support a particular type/nature of innovation in the organization, and to identify possible gaps. The significance (importance) and height (performance) of the landmarks in supporting and enabling innovation within the organization is determined by means of a selfappraisal audit. The topography of the landscape derived thus is subsequently interpreted in terms of the organization’s particular innovation strategy and environmental context. The application of the Innovation Landscape Methodology is illustrated in a number of organizations within the Mining and Minerals Industry of South Africa. Important observations and conclusions regarding the strategic alignment of enabler strengths within these organizations are made.

Jan 1, 2003

By Leon Lorenzen, Victor E. Ross, Anton W. Kleingeld

"Key to successful innovation, whether at organization, industry or national level, is the alignment and utilization of resources in the most appropriate and efficient way. Innovation needs to be directed strategically, and it needs to be auditable in a systematic and integrated fashion. In the light of these considerations, this paper describes the construction and use of a topographical map of the innovation landscape of an organization. The purpose of the map is to provide a holistic view of the key factors that enable innovation (the so-called 'landmarks'), how well they are aligned to support a particular type/nature of innovation in the organization (e.g. radical vs. incremental innovation), and to identify possible gaps between actual and sought performance.The landscape covers four domains that influence innovation - the attributes of the individual, the organizational context in which he/she functions, the business environment (the market / industry in which the organization is operating) and the external environment. The significance (importance) and height (performance) of the landmarks in supporting and enabling innovation within the organization is determined by means of a self-appraisal audit. The topography of the landscape derived thus is subsequently interpreted in terms of the organization's particular innovation strategy and environmental context."

Jan 1, 2003

By R. Binning

"Economic high density mineral reclamation and subsequent transportation of solids through a pipeline presents many formidable engineering problems.Mineral reclamation system design by theoretical formulas is almost impossible because solids composition, ie. concentration, velocity, moisture content, solid size, etc. can only be controlled within a broad pumping range.Traditionally this has restricted pumping to relatively dilute slurries whereas it is usually preferred, because of economic considerations to reclaim as high a concentration as possible.At Toyo/De-Velde Corp. we recognized these pumping limitations and began to develop and manufacture a range of standard and auxiliary equipment that would exceed these technical restrictions.MATERIAL RECLAMATION & PIPELINE INJECTIONTo minimize fluid usage and increase material reclamation efficiency we designed a submersible dredge mixing pump that uses most of its energy to pick up material from rest, mix it with fluid into a highly concentrated slurry then push it firmly into a pipeline.Where material is too compacted to be mined by the standard submersible mixer pump, auxiliary high torque self contained submersible excavators can be fitted around the periphery of the mixer pump. This is to facilitate excavation and break up of the compacted material into a slurry.High flexibility of this system can be achieved by combining the many equipment variations available into the most efficient format to fit individual site requirements.Whatever combination of equipment is selected, torque is nullified by counter rotating excavators against each other. This increases effective excavator/material bite torque but also allows mixer/excavator rig suspension by cable for deep water material recovery."

Jan 1, 1985

By Marco A. Vera

"This paper investigates the froth function in flotation and the associated upgrading process. Flotation literature has revealed that one of the main functions of the froth phase is the cleaning of bubble-particle aggregates by rejection of entrained material. The cleaning and transport processes across the froth phase exert straining forces on these aggregates on their way up to the froth surface. These forces will impact on the recovery of bubble-particle aggregates.The grade at the top of the froth (TOF) is a parameter related to the quality of particles collected by bubbles in the pulp zone (true flotation). It has recently been demonstrated that TOF corresponds to the maximum practically attainable grade described by the recovery-grade (or enrichment ratio) curve. TOF lumps all the processes experienced by the bubble-particle aggregates before reaching the launder concentrate. This paper describes a methodology for quantifying flotation performance by means of the top of the froth sample - a touch of froth.INTRODUCTIONFroth flotation may be the most important mineral processing technique, but its theory is complex and is not completely understood even though many aspects have been studied and reviewed (Teague, 1998; Wills, 1992).Two distinct particulate systems prevail in the flotation process: a pulp phase and a froth phase (Figure 1). The pulp zone had been studied extensively; however, it is only recently that techniques to measure the froth zone performance have been developed (Contini et al., 1988; Falutsu and Dobby, 1992; Feteris et al., 1987; Seaman, 2002; Vera et al., 1999b).Flotation involves a number of mass transfer processes, occurring in the pulp phase and the froth phase. The formation of the froth and its subsequent removal are considered to be two important steps of the process. Phenomena that occur in the froth phase are known to affect flotation performance significantly (Cutting et al., 1981).Because the froth has a high free surface energy (as a result of the extensive interfacial surface between liquid and air), it appears thermodynamically unstable. The foaming is a dynamic balance, as new bubbles are added continuously from the pulp, while others disappear from the top. Under steady-state conditions, the volumes of added and subtracted air are equal (Booth, 1953)."

Jan 1, 2003

By Chee Theng

"What do you think are the most important topics in mineral processing today? It is a question that begs to be asked when more than 100 of some of the best and brightest in Colorado mineral processing and their invited guests are gathered in one room. They are there for the 66th Annual Colorado MPD Meeting held at The Broadmoor in Colorado Springs: three days of finely curated talks and social events where participation was strong, and information was exchanged and connections forged in a relaxed, informal atmosphere.Water, tailings and social licenseNot surprisingly, water management, with the associated issues of tailings and social license, was high on the minds of those present. The Mount Polley and Samarco tailings dam failures have had repercussions across the industry. “There are big challenges with respect to tailings, and social and environmental pressures to find better ways to treat them,” said Steve Hearn of Huntsman Corp., a view echoed by Bob Kilborn of Kilborn Group LLC. Metso Minerals director Keith Butler said, “Water conservation is a key issue today. Many mining activities are now located in remote areas, so it has social and economic impacts on mining operations.” For Brian Olson of Samuel Engineering, wastewater and reclaimed-water treatment is interesting.Fittingly, the first talk of the meeting was on dry stack tailings by Michael Blois of Takraf USA, who went over both the advantages and disadvantages. “The average now is over one tailings dam failure a year,” Blois said, “and that is one too many.” But the technology may not be the right fit for all projects. In his talk on the KSM project, Jay Layman, president and COO of Seabridge Gold, showed how it isn’t practical for KSM and how Seabridge reached the decision on a cyclone sand tailings managementfacility as the preferred management strategy.The luncheon keynote also dealt with a tailings pond spill, but of a different kind. Bob Schafer, chief executive of Eagle Mines Management, spoke on the federal missteps that led to the spill into the Animas River from the Gold King Mine, a mine that had been a dry mine throughout its life and up to the 1990s."

Jun 1, 2016

By Jones JJ

A laboratory study of size segregation is described using a model of a Paul Wurth hopper industrailly employed for blast furnace charg- ing purposes. Experimental charge materials used in the study were glass ballotin.i (1-4mm dia.) and sinter fines (0.25-4mm). The tracer material employed consisted of coloured glass beads. The results of the study show that the discharge stream from a Paul Wurth hopper is characterised by an initial negative segregation followed by a positive segregation and that this segregation pattern is a property of the hopper geometry and the filling conditions. A simple computer model based on experimental tracer concentration results is proposed. The measured segregation results and those predicted by the model show close agreement. Application of the results with special reference to the effect of size segregation on charge permeability in blast furnaces is also included.

Jan 1, 1984

By S. J. S. Ferreira

Anglo American Platinum's Khomanani 2 shaft changed over from down-dip mining to breast mining in 2004. The changeover was made to ensure that production targets were met, as it was said that predevelopment for down-dip mining was not fast enough to sustain the required ore reserves; nevertheless, production performance did not increase as expected. In this study a trade-off was performed between down-dip mining and breast mining on the Merensky Reef at Khomanani 2 in order to find the most suitable method for mining the Merensky Reef. Data was gathered by means of a literature survey, underground observations, and interviews with personnel as well as data from various departments on the mine. The two mining methods were studied and then evaluated in terms of the following criteria: safety, mining rate, cost and other factors which were identified as the main drivers of the mine. A scaling system was used to rate the performance of the two mining methods. Analysis of the results shows that down-dip mining and breast mining have the same safety performance ratings. Breast mining has a better mining rate performance than down-dip mining. Breast mining was found to be costly in comparison with down-dip mining, which has a good cost performance rating. The overall ratings of the two mining methods are very similar, with down-dip mining achieving a rating of 76 and breast mining 75.5 out of an optimum 102. Khomanani 2 currently practices breast mining, and with such a slight difference in performance rating between the two methods, it will not be worth changing over to down-dip mining as production is likely to be adversely affected during the changeover. Down-dip mining does, however, have potential for improvement in its performance rating. Further studies focusing on the improvement of the mining rate performance for down-dip mining are needed to see if this potential can be realized. If significant improvement can be made in the performance rating for down-dip mining, a changeover to down-dip mining can be reconsidered.

Jan 1, 2012

Develop a training program to help mine workers effectively fight small fires in underground Goal mines. Training would enable miners to make rapid judgments on whether to attempt extinguishment, and how best to use the firefighting equipment on hand. Approach Fire reports were analyzed to define and delineate physical and behavioral variables which affect firefighting activities, and to determine effective procedures for extinguishing small fires. A course was then designed to train miners in such procedures. Finally, the course was reviewed by industry experts and administered to a group of miners to determine needed revisions and to validate the course. How It Works Analysis of fire data showed that six items should be emphasized in teaching proper fire response: 1. Alertness to fire potential. 2. Immediate power cutoff. 3. Internal, external communication. 4. Teamwork in fighting fires. 5. Role of ventilation and position of men inby the fresh air side. 6. Effective use of fire suppressant materials.

Jan 1, 1983

By T Ireland, B Wright, S Weaver

All tunnels have unique characteristics that result in different fire and life safety risk. The fire safety systems for each tunnel also give different benefits at different costs. It is therefore neither pragmatic nor cost-effective to prescribe specific fire standards requirements for all tunnels. Each tunnel needs to be assessed individually but using a common process.The owner/client is normally the risk owner and needs to make the decision on what fire and life safety provisions will be provided within the tunnel. To make this decision they need to be appropriately informed. The low probability and high consequence nature of fire events creates a challenge such that traditional analysis processes, which tend to focus on a major event after it has happened, are not easily applied and do not give the best value for money. Therefore a process is required that provides the relevant information to the owner for decision-making.A quantitative risk assessment (QRA) provides a process and framework for the consideration of fire life safety risk when applied properly. This involves a risk assessment of the ‘do nothing’ option together with assessments of improvement options and their costs. It also involves consideration of benchmark safety levels for other tunnels and the open road.This paper will outline a QRA process for assessing fire and life safety risk in tunnels and how this has been used for three existing tunnels, Homer Tunnel, Lyttelton Tunnel and Mt Victoria Tunnel. Key challenges include determining an acceptable safety level, defining realistic inputs, providing sufficient complexity to get meaningful results but not so complex that transparency is lost and interpretation to enable decision-making by non-technical personnel.CITATION:Weaver, S, Wright, B and Ireland, T, 2014. A transparent and pragmatic quantitative risk assessment process for assessing fire safety in New Zealand tunnels, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 121–128 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By A. W. Storm

Vertical shaft furnace design and operation have their roots deep in antiquity. There is substantial evidence to indicate that iron was reduced from its oxides to serve mankind's needs long before recorded civilization - - actually prior to 3500 B .C. For at least 5500 years man has been matching wits with Nature to find better methods of extracting this most common, yet essential, metal from her, grasp. And, during nearly all of this period, the vertical shaft furnace has played a principle role in this dramatic struggle.

Jan 1, 1962

By A. P. Purgin, M. G. Viduetsky, I. F. Garifulin

"The combined treatment process for mine, tailings storage facility, quarry, circulating, and waste water in the mining and metals industry brings together the conventional chemical treatment processes and pneumatic flotation cells of the KFM series. The key principle of the process is preparing the water for treatment by saturating with finely dispersed air bubbles in the flotation cell blowers. Gas-air lift dispersers located in the lower part of the cell body additionally saturate the cell’s contents with finely dispersed air. Due to the residual content of flotation agents in the treated water, hydroxide ion-air aggregates form at the aerator outlet, supporting the efficient precipitation of hydroxide ions of heavy non-ferrous metals, calcium and magnesium ions. This process was tested in the pilot plant KFM-180 with a raw (untreated) water capacity of up to 18 m3/h per 1 m3 of the flotation cell volume using a mixture of the tailings storage facility and mine water from JSC Safyanovo Copper. The treatment process included raw water treatment with lime, aeration in KFM cells, and filtration in a sorbent bed. The content of metal ions in the treated water is lower than in the feed water by a factor of up to 170,000 and approaches the standards: aluminum 0.016-0.02 mg/l, copper 0.0043-0.0045 mg/l, zinc 0.049-0.052 mg/l. circulating water of Soryin Tailings Storage Facility at JSC Svyatogor. The treatment process included raw water treatment with lime and alkali, aeration in KFM cells, and filtration in a sorbent bed. The content of metals in the treated water is lower than in the feed water by a factor of up to 9000: copper 0.022 mg/l, zinc 0.012 mg/l, iron 0.012 mg/l, manganese 0.015 mg/l, nickel 0.132 mg/l, arsenic 0.016 mg/l. Water hardness is significantly lower: calcium - 12.6 mg/l, magnesium - 1.1 mg/l. This process can be used in the treatment of mine, quarry, tailings storage facility, and circulating water at mining and non-ferrous metals projects."

Jan 1, 2018

By Gui Hua Wang, Xin Chang, Zhong Ying Han, Yuan Fang Cheng

"According to the geometrical characteristics of triangular meshes, Triangular Mesh Split Model (TMSM) based on a finite element method is proposed to simulate cracks propagation of fractured rock. With TMSM, stress intensity factors at the tip of cracks are obtained by far-field contour integral. Meanwhile, vector cross multiplication is adopted to fix the cracking unit, and maximum circumferential stress criterion is used to determine the crack propagation angle. Then crack dynamic propagation simulation is realized through local mesh split or node movement at crack tip. With this method, the crack can split apart a unit or extend along the mesh boundary, so the crack could extend along an arbitrary path and is not restricted by the initial mesh. The applicability of the mesh split algorithm is verified by the crack propagation examples of wing crack and multi-fractured rock mass with holes. The results show that this method not only has higher accuracy of fracture parameters calculation, but also can accurately simulate the crack initiation and propagation of rock under complex stress state such as tension, compression and shear. In addition, the far contour integral is introduced to determine the crack tip stress intensity factor and there is no need to reconstruct a singular element at the crack tip or to intensify the meshes. Compared with the existing mesh reconstruction algorithm, this method significantly improves the computational efficiency.INTRODUCTIONGenerally, rock is neither the full continuum, nor entirely discrete body, but rich in geological defects, such as joints and cracks. A large amount of geotechnical engineering practice shows that most fracture of rock is closely related to the internal joints, cracks and crack expansion (Horii et al., 1985; Wong et al., 1998). Although the classical theory of fracture mechanics established the theoretical foundation of crack initiation, propagation, so far it is still extremely difficult to characterize the propagation of airfoil-typed crack and the interference problem of multiple cracks. Up to now, the micromechanics mechanism research of crack propagation of fractured rocks has still been a hot research topic of rock fracture mechanics."

Jan 1, 2015

A SELF-RESPECTING miner doesn't wash the cuttin's off his hard hat until he quits his job but, on the other hand, he keeps his lamp clean and a "spot" focus on the work at hand; the former habit is a matter of pride and the latter serves for efficient operation. During 1949, the mining engineer got all the "wet raises" for the problem of cutting costs to meet the drop of metal prices and keeping research work up to schedule when strikes tied up his work were his headaches. We note, not without admiration, that he hasn't washed the muck off his hat in token of surrender but, on the contrary, his light shines bright on the job to be done as can be seen in the following pages. Few people have any conception of how much ore and rock have to be mined and how much sorting it takes to cull a pound of copper from a 1 % ore body. These people would be even more startled to picture the problems faced by the engineer in mining and extracting, profitably, .2 oz of gold from a ton of ore as is done at some of our lode mines. Strikers have sometimes kept our researchers from their pilot plants and research laboratories, but the end of the year shows progress in making ore out of taconite and ferruginous sandstone, with a pilot plant in operation at Aurora, Minn., and plans for one near Birmingham. Unfortunately, it looks as though the mining engineer will have to make John Doe secure in mineral resources in spite of himself. Coal for steel, power, and to warm our homes is still economically possible, in spite of Mr. Lewis, through development of mechanized tools for mining. During the year, the use of continuous mining machines has extended, transport systems are being adopted to keep the ore flowing from the face to the tune of 40 tons per man-shift. Experiments in the gasification of coal are going forward in several places and may eventually extend our fuel reserves by the addition of coal seams now too lean for mining. Liquid fuel from coal, oil shale, or natural gas will become economic when oil consumption exceeds our supply; but, at less than 30 cents a ton direct cost for mining oil shale, the engineer is almost making it competitive under present market conditions. In this age of specialists, the mining engineer is still holding his own as a broad-gauge man. As a matter of fact, he is emerging from a stage of semispecialization as a coal, nonmetallics, or metal mining man to the realization that, with mechanization, mining is fundamentally materials handling whether it is fluorspar, coal, or copper ore. From the coal business come rubber-tired mechanical loaders to the iron mines of Birmingham. Shuttle cars are also finding application in the lead mines of the Tri-State. Open-pit methods are universal. Belt conveyors, trucks, Diesels, and mobile, jumbomounted drills are finding application in all types of mining. In preparation, such methods as flotation,- heavy density, electrical, and centrifugal are finding application in coal, nonmetallics, and metals. These concepts have been recognized by the mining engineer who has kept himself informed and has been quick to seize a method, machine, or a process from another operation and, with ingenuity, applied it to his problems. This, our Annual Review issue, is written by mining engineers. In gathering these separate articles under one cover for publication, we think of it as a trrbute to the tireless energy and skill of these men. They get little of the publicity accorded physicists, medical men, labor leaders, or company executives, but they supply raw materials without which industry would die.

Jan 1, 1950

By James H. Boettcher

INTRODUCTION A complex interaction of worldwide economic and political forces is increasingly requiring 3 primary participants for the successful development of large natural resource projects in developing countries. They are the host government of the developing country (the "host government"), one or a consortium of international natural resource companies, (the "Resource Company") and one, or more likely, a syndicate of international lenders. The host government typically controls the rights to its country's natural resources and establishes the economic ground rules for their development. However, because of worldwide inflation and the depletion of easily accessible, high-grade resources, the nominal and real capital development and operating costs of projects have been spiraling. Moreover, the depletion of high-grade and mineralogically uncomplicated resources also raises the technical and operating risks associated with resource recovery. Thus, despite increasing political self-consciousness and economic nationalism in developing countries, international resource companies are still often necessary project sponsors since they can provide, among other things, the required technical and management expertise and equity capital. The presence of these factors, and often the addition of worldwide market access in a project, is often critical in determining whether or not the project will be considered creditworthy by international commercial lenders. The international commercial lender is often the critical third party in project development, due in a large part to the ever escalating-costs of project developments relative to the financial resources of many companies and even a growing number of countries. In addition, lenders have other reasons for taking more than a passive interest in all aspects of a project's development. These reasons include the following: 1. Projects are often financially structured such that the primary security for a loan, once completion and performance standards are met, is the cashflow of the project rather than recourse to its sponsors. 2. Lenders, in addition to the "project risk" just described, are frequently asked to assume various elements of "political" risk which nay put them in a sensitive economic position between the host government and international resource firms (This is discussed later). 3. International banks today have large loan portfolios of developing country debt with final maturities ranging from one to fifteen years. The various current projects undertaken are the building blocks of most developing country economies that will hopefully contribute to the long run economic development of a country as well as generate the foreign exchange necessary to repay foreign loans in the future. In this regard it is useful for lenders to realize whether a given project "makes sense" in terms of a country's natural resource endowments and competitive advantages over other countries. The type of framework discussed in this article would help lenders to better make such assessments. In order to facilitate the continued international flow of capital and technology to developing countries and of readily available supplies of raw materials from them, it is important for each of these three parties to increase its awareness of the goals and objectives of the other parties as well as the bargaining process that results in the legal, financial, credit and fiscal structures by which a joint venture project ultimately proceeds. Each of the parties faces increasingly complicated accept/reject decisions when they are faced with difficult choices among. a wide range of alternative structural combinations each of which has different implications for risk and reward to them. Therefore, by increasing the mutual, 3-way awareness of the decision processes of the other parties, it should be possible to: • provide better information and results in the formation of more rational expectations by all parties going into negotiations, • facilitate the project formulation process by allowing parties to focus more clearly on the areas of common interest and conflict, • result more frequently in final structures and agreements that better reflect the economic and political realities associated with a project and thus • result in more creative, innovative agreements that should reduce the need for changes to them and thus promote the kind of long run political stability conducive to attracting capital and further investment.

Jan 1, 1982