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By Rudolf Kudlich

The problem of eliminating the hazards of hoisting in mines has been with us since the industry passed its earliest stages, when coal and ore could be won from surface working and tunnels. At first, safety devices were introduced as means of decreasing the amount of labor necessary to produce the mineral, or to increase the amount that could be obtained from a certain opening. For example, crude ladders replaced winding footpaths or steps cut into the walls of the pit or shaft, decreasing the distance it was necessary to carry the product to the surface and eliminating, to some extent, the hazard introduced by the precarious footing afforded by such paths and steps. Latcr, instead of being carried from the pit on the backs of men, the product was hoisted in buckets or baskets on a rope passing over a pulley or around a windlass. Thus the capacity of the pit was considerably increased, and the hazard due to making many trips up and down the shaft was eliminated. From such beginnings accident prevention in mine hoisting advanced with the importance of the industry, until at present hoisting compares favorably with other branches of the mining industry with reference to safe practices. As in the other branches, this progress has been accomplished along two general lines—by legislation, rules, and education, and by the installation of safety devices. Though due credit must be given the former, it is not so satisfactory as the latter. Legislation, to be effective, requires a policing and inspection system to guarantee enforcement, such as we cannot hope to inaugurate. Rules may be satisfactory so long as the employer controls the labor market, and dismissal or some other form of discipline is an effective means of insuring obedience to the rules; but where labor demand is in excess of the supply, or where labor organizations are in control, such measures are not effective. An educational campaign will draw attention to hazards and may awaken a desire to avoid accidents by exercising the proper care. It is necessary, therefore, to place our reliance mainly on mechanical devices to prevent accidents, and to depend as little as possible on laws,

Jan 1, 1923

By Edward W. Parker

At the Cleveland meeting of the Institute, October, 1912, I had occasion to call attention to the general though erroneous impression that the principal mining activities of the United States lie west of the 100th meridian of longitude. Few, I believe, realize that the States east of the Mississippi river, which comprise only 28.8 per cent. of the total area of the United States, exclusive of Alaska, contribute about two-thirds of the total mineral production, computing by values. In 1910 the percentage of the production credited to the Eastern States was 67; in 1911 it was 65. When I have, with becoming modesty, ventured to speak of these comparisons, I have usually been met with the rejoinder, " But you include coal." I surely do, for whereas coal (m petroleum, as natural gas, as limestone) is not in the strictly technical definition of the word, a " mineral," it is legally mineral, is certainly a mineral substance, and contributes by far the largest tonnage and approximately one-third of the total value of all mineral products. The production of coal-mines in 1911 weighed approximately 500,000,000 tons. In 1912 it exceeded that record by nearly, if not quite, 50,000,000 tons. According to H. D. McCaskey, of the U. S. Geological Survey, the total weight of all the metallic ores mined in the United States in 1911 was 105,000,000 tons (a little more than one-fifth that of coal). In 1910 Mr. Lindgren estimated the total weight of all metallic ores at 120,000,000 tons. The products of the quarries, clay-pits, oil-wells, phosphate-mines, and other non-metallic products, taken all together, did not in 1911 weigh in excess of 300,000,000 tons, so that the output of coal exceeds by 25 per cent. the combined tonnage of all other mineral products. The coal-mines give to

Jan 1, 1914

By John Howe Hall

The recently announced run of three years, nine months and eleven days made by a crucible steel melting furnace of the Columbia Tool Steel Co., which is claimed as a world's record, brings forcibly to our attention the great improvements that have been made in the design, construction and operation of the Siemens regenerative crucible melting furnace since its introduction in this country. Credit for this advance should be given to the furnace designer, the manufacturer of refractories, and the operators, of the furnaces, whose persistent efforts and intelligent co-operation in attacking the problem have resulted so satisfactorily. There are three factors that determine the life of a crucible furnace, or any other furnace for that matter: Design, nature of refractories, and conditions of operation (including the nature of steel melted); and to some extent these factors are interdependent. Thus, for instance, if a crucible furnace is to be operated single turn and allowed to cool off considerably at night, in order to save fuel, the use of clay-brick melting holes may be advisable, since silica brick is not well adapted to endure repeated heating and cooling. But the total life of a clay-brick melting hole is necessarily short. Again, if local conditions such as danger of flood make necessary the building of the furnace largely above ground, so that the radiation of heat is promoted, the cooling down of the furnace over the week ends, when no steel is melted, will be considerable—and the contraction of the furnace that results tends to wrack it to pieces. The character of the metal being melted affects the life of the furnace to a great extent. Low-carbon steels and steels made from iron and charcoal require higher temperatures and much longer melting time than high-carbon steel or steel made largely from scrap; the life of the furnace will be shorter, and the number of heats melted will be much less, when such materials are melted. The figures available, showing the life of furnaces, are for this reason especially not strictly comparative, since the variations in the steel melted undoubtedly affect the life to a greater or less extent. Probably, however, the method of handling is as important a factor

Jan 1, 1914

By Guilliaem Aertsen

The derivation of the word tire (or tyre, as it is spelled in England) is obscure. Some dictionaries suggest that it is the aphetic form for "attire, covering," so called as being the outside covering or band of a wheel; also as a corruption of "tier," the band which holds, or "ties," the rest of the wheel together. One dictionary states: "The supposed derivation of the word is that bands were first used on wheels in the City of Tyre, Syria." In the infancy of railroads, the tracks consisted of flat bars of iron, spiked or bolted to the upper surfaces of longitudinal timbers, which, in turn, rested upon masonry foundations. Stone blocks installed for this purpose on the old Germantown & Norristown Railroad, now the Chestnut Hill branch of the Philadelphia & Reading Railway, were to be seen for many years on the right-of-way, north of what is now Wayne Junction, Philadelphia, Pa. The "cornerstone" of the Baltimore & Ohio Railroad was laid Apr. 4, 1828, and the fist locomotive in America was built by Peter Cooper at the St. Clair Works, Baltimore, Md., in 1829 "to demonstrate its adaptability to a curved road." It is believed that the first successful locomotive was built in Philadelphia by Tyler & Baldwin in 1832 for the Germantown & Norristown Railroad. Rufus Tyler and Matthias Baldwin were brothers-in-law; the latter's name will be identified with American locomotives until locomotives are forgotten. The wheels on these first locomotives, designed to run on this primitive rail, mere shod with plain iron bands, bent and welded. The flanges consisted of separate iron bands, bent sidewise,welded, and bolted to the sides of the wooden fellies, or rims. Before many years had elapsed the tires were fabricated of iron bands, rolled in one piece with the flange projection on the side. The tire for each wheel was bent and welded and subsequently attached to the wheel center by shrinkage, bolts, rivets and various mechanical devices. Germany is generally given the credit for first making such tires of

Jan 1, 1917

By Benjamin F. Tillson

The hammer drill rightly receives the credit for having made the one-man drill possible, and so many economies seem possible through the proper application of different types of hammer drills to various mining, quarrying, and excavating operations, that an indication of the 'economies effected by the New Jersey Zinc Co. at its Franklin mines may be of pertinent interest. When this company commenced its trials of hammer drills in 1907, these tools had not been developed to one-fourth the capacity and refinement which they have at present. At that time it was frequently stated that such a small tool, drilling holes of less diameter than the reciprocating rock drill, could not drill enough holes in a shift to permit the placing of sufficient explosive to break a tonnage of ore comparable with that produced by the "rock drills;" that the placing of small holes inclined upward, at angles steeper than 40' above the horizontal, could not be expected to produce results equal to the large flat, wet or dry, holes in the breasted back of an overhand stope, and would only shatter the ground so as to make the back unsafe. In spite of these adverse opinions, the hammer drills first showed their superiority over both heavy and light reciprocating drills in raising and in stoping, and then in drifting and quarry work. As a result, all of the reciprocating drills at the Franklin mines were scrapped three years ago, all of the mining work being accomplished with increased efficiency, as shown in detail in this article. With the advent of the hammer drill in this property, it was considered advisable to make comparative tests of all the tools accessible, and it has since been the policy to investigate the merits of any advance of the drilling art in order to get the maximum amount of work from the tools. The necessity of devising some means of standardizing drill tests, and of measuring the consumption of compressed air as well as the drilling speed, was early realized. The common test was to fill a measured air receiver with compressed air at a certain gauge pressure, run the drill until the pressure had dropped to too low a figure, then compute from the time, drop in pressure, and

Jan 1, 1915

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

By James F. Kemp

Jan 1, 1914

By M. L. Requa

This paper is abstracted from the report of the Appraisement Committee of the Independent Oil Producers' Agency, of which the writer was Chairman. The other members of the committee were M. V. McQuigg and R. S. Haseltine. To Thomas Cox, engineer in charge of the investigation, and to his efficient staff of assistants, is due the credit for the detail work necessary in carrying out the plan of the Committee. It treats only of the valuation of the lands, wells, and piping, without going into details of equipment and other features. It was recognized, early in the operation, that the value of oil lands was the value of oil ,to be extracted and marketed, less the costs attendant thereon. Referring this back to the costs in cents per barrel, it became obvious that surface improvements, absolutely necessary in the production of oil, from wells then drilled, had no separate and independent value aside from the value of the land, but that any excess equipment, not necessary for the production of oil from present wells, such as drilling tools, well casing, etc., should be given a present condition value. In valuing the properties of the Independent Oil Producers' Agency, the Committee has considered the following facts: 1. That from each property there will ultimately be produced a certain total quantity of oil. 2. That in the production of that oil a certain total quantity of money will be expended. 3. That a certain total amount of money will be received from the oil. 4. That the total net receipts will be the total gross receipts less the cost of development and production. 5. That the present value of the net receipts must be such an amount that when invested by a purchaser it will be returned with 8 per cent, interest additional during the life of the property. The initial procedure consisted in making a general reconnaissance of the entire district in which the property was located and determining the lithological and structural conditions underlying the area. The data obtained from each individual tract comprised the logs of all the wells

Jan 1, 1918

By H. M. Wilson

The relation of labor to the accident rate in mines is admirably epitomized by Thomas T. Read in his paper presented at the St. Louis meeting, in the sentence "Reliance for accident prevention must be upon the individual worker himself." In connection with the inspection of mines for the fixing of merit premium rates for insurance under workmen's compensation, it has been the practice of The Associated Companies to allow 60 per cent, of the credits for safeguarding of the physical hazards of the mine and 40 per cent. for the human element. By "human element" is meant that inherent tendency of the industrial worker to be careless, negligent, or disobedient, in respect to his own safety, and after that also of his fellow workman. This is a tendency not only of the laborer or of the skilled miner, but of all human beings, working or traveling anywhere. This element of mine safety, sometimes called the moral hazard, has been admirably shown by statistics, compiled from the records of the Department of Mines of the Union of South Africa, to be due in about equal measure to the carelessness of the miner and to that of the operator. These statistics show that about one-half the fatalities in mines are due to the so-called hazard of the industry, or what is sometimes called the dangers inherent to work or misadventure. Of 2497 fatalities investigated, including over 200,000 employees, for a period of over 21/2 years, it was found that 17.5 per cent. were due to faulty plant or material, fault of the foreman, or of the management—in short were due to the operator; 17.1 per cent. to disobedience of orders, carelessness or ignorance of injured persons; and 5.9 per cent. through fault of others, including fellow workmen. The fault of the operator is evidenced by failure to give proper warning, failure to inspect, failure to furnish proper equipment, and neglecting to comply with the recommendations of the inspector. That education and training of the mine operator, as well as of the mine worker,

Jan 1, 1918

By J. H. Corrigan

A series of six papers describing the Falconbridge Dominicana Ferronickel project were presented at the International Laterite Symposium held as a joint project of TMS-AIME in February 1979 at New Orleans. A review of the ore mineralogy, as well as. the processing and environmental practices as they exist today at Falcondo with emphasis on modifications put into practice since 1979 are presented in two papers: Part I.- Mineralogy and Ore Dressing E.W. Lithgow - General Superintendent ? Mines Falconbridge Dominicana, C. por A. Bonao, Dominican Republic Commercial volumes of nickeliferous laterite ores overlie part of a 90 km long belt of peridotites in central Dominican Republic. Protores are serpentinized harzburgites and dunites, with lesser serpentinite. The ore mineralogy consists mostly of goethite, serpentine-group minerals, quartz and poorly crystallized, X- ray amorphous materials. Minor constituents are hematite, gibsite, olivine and enstatite. In the Ore Dressing plant, the mine feed is subjected initially to proper sizing and blending to produce a homogenized mix. Subsequent drying and upgrading, by selective crushing and screening of rock kagments through a Barmac circuit, complete preparation of the ore for pyrometallurgical processing. Part II.- Pyrometallurgy, Fuel and Power Generation J.H. Comgan - Manager ? Production Falconbridge Dominicana, C. por A. Bonao, Dominican Republic Falcondo's energy requirements are based on oil which is refined on site to provide distillate to carry out drying and selective reduction of the nickeliferous ore in the shaft furnaces, plus bunker oil to produce electrical power for process melting, refining and ancillary use. The dryer product at 1.68% Ni is briquetted and passed counter current to hot reducing gas in 12 vertical shaft furnaces. The hot calcine discharge is melted in two high power electric furnaces at very high secondary voltage. The crude ferronickel is ladle refined and cast as 15 kg ingots or 125 gm ferrocones.

Jan 1, 1993

By Santo Ranieri

We will briefly review the nickel market in 2003 and look forward to the supply demand balance for the next few years focusing in on the key factors influencing future price dynamics. On the supply side we will examine slated brownfield and greenfield expansions including the Norilsk factor and the small to mid-range 'supply creep'. We will also review the cost side of the industry and what to expect going forward. On the demand side, we will discuss the stainless steel and non-stainless demand, the China factor and the stainless steel scrap supply cycle. We will conclude by pinpinting where the market is on the current price cycle, and where we believe the mid-term direction is headed.

Jan 1, 2004

By G. L. Oldright, F. W. Schroeder

Very great changes were made in the dimensions of the smelting hearths of the furnaces in the period from about 1800 to 1906, the length increasing from about 11 to 116 ft., and the width from 8 to 19 ft. During this time the tonnage smelted increased from about 9 to 250 tons per 24 hr., and the tons of charge smelted per ton of coal increased from 0.77 to 4.3. Dr. Mathewson3 noted no great difference in the "fuel ratio" (i. e., the amount of charge smelted per ton of coal) as the furnace at Anaconda was increased in length by stages from 85 to 116 ft. (The percentage of copper in the slag, however, was lowered from 0.42 to 0.36 per cent. The other components of the slag were not given.) Lump coal fired on grates was the fuel used during this period. The practice in operating the furnaces over such a length of time naturally varied considerably, and there were differences in composition and nature of the charge, yet it may he considered that the improvements made were due largely to increases in the size of the furnace used. Doubtless some credit should be given to improvements in operating technique, like changes in the methods of firing the lump coal. However, the greater part of the advance was probably due to factors influencing the

Jan 1, 1928

By J. U. MacEwan

THE basis on which the modern metallurgical industry is operated is the endeavour to attain maximum return in purchasing power for the least expenditure of energy. This has always been the general objective of the industry, as of all industries. In recent years, however, it has received a new emphasis. Today, as never before, increased attention is being directed to the detailed study of plant operations and the application of scientific knowledge and of business principles in order to achieve the maximum efficiency. This new emphasis is the result in large part of the new problems and conditions with which the industry has been confronted, chief among which are the following: (l) Development of new ore-bodies and the treatment of complex ores. (2) Necessity of achieving a greater degree of purity in some of the metals in order to meet the newly discovered demands for some of the industrial metals. (3) Discovery of new markets for many of the metals, either in pure form or in the form of alloys. ( 4) Change in values, absolute or relative, of some of the important metals. (5) Increasing scale of investment in expensive plant and equipment, which makes imperative most efficient utilization if total unit costs are to be kept to a minimum. (6) Increasing scale of operations in some important branches of the industry, which also makes essential maximum efficiency in organization, administration, and operation. The success with which the metallurgical industry has met the problems created by these changing conditions has been due primarily to the following factors: (1) Results of research and experimental work carried on by universities, government laboratories, and many private corporations in the industry itself. (2) Closet study of every detail of plant operation, both from the technological and from the economic point of view, with the object of increasing plant efficiency. (3) Interchange of information and experience amongst the operating companies. It is only by the concerted efforts of numerous investigators and experimenters that the underlying fundamentals of plant operations can be learned. The exchange of results permits their easy assembly and correlation with maximum benefit to the whole industry. Unnecessary duplication of research and experimental work is avoided and the industry as a whole is able to reap the fruits of this work with the maximum of-speed and efficiency. (4) Advances made in recent years in so-called 'scientific management' in industry as a whole and the application of the principles learned to the metallurgical industry. A review of the modern trends in extractive non-ferrous metallurgical processes illustrates the afore-mentioned new conditions and problems, and gives some idea of the methods by which they have been and are being surmounted.

Jan 1, 1937

By J. E. Lamar

THAT Illinois is an important mineral producing state is well known. A value of over $237,000,000 for the mineral products in 1926 indicates the magnitude of the industries. Coal mining is the largest mineral industry, and the value of its product was about 63 per cent of the total mineral production of the state. Oil and gas constituted about 8 per cent and the non-metallic minerals about 29 per cent. This 29 per cent represents the production of a varied group of mineral industries of wide geographic distribution through the state.

Jan 1, 1929

By Albert J. Phillips

SEVERAL important changes have been' made during 1933 in the compilation and distribution of technical literature to those interested in nonferrous physical metallurgy. The Institute of Metals, of Great Britain, announced that preprints of all its papers would be distributed monthly to all members in combination with their bulletin of abstracts. The A.I.M.E. has announced that it will distribute to all members of the Institute of Metals and Iron and Steel Divisions a monthly bulletin entitled Metals, which will carry preprints of all publications of interest to the members of these two divisions. The American Society for Steel Treating has declared its intention to change its name to the American Society for Metals in order to indicate the broader scope of its activities. The abstract service of Metals and Alloys has been improved and expanded, covering practically the entire field of metallurgical literature. These changes and innovations now provide unparalleled reference service entirely in the English language.

Jan 1, 1934

By Earl R. Parker, Ralph Hultgren

DURING the past year publications in physical metallurgy have not been abundant when compared with the output of prewar years. Nevertheless, some noteworthy contributions have been made to the literature. Because of the necessity for war production, much of the metallurgical effort has been directed towards the solution of problems of production processes. The limited amount of time devoted to other problems is reflected in the small number of papers devoted to nonapplied research, though a few excellent contributions have been made to the fundamentals as will become evident in the following pages. Results of many of the government-sponsored research investigations have been released to the public and are being published in the technical journals. Many more of these papers may be expected to appear in the 1946 publications.. Public distribution of information obtained in the course of these investigations should be of great value to American industries in the postwar era. Continued activity in research of all kinds is apparently assured because of intense

Jan 1, 1946

By C. M. Díaz, P. J. Mackey, P. Coursol

In a recent paper [1], the present authors discussed calculated energy consumption numbers in copper sulphide concentrate smelting for four different smelting technologies. For the present study, from among these technologies, they selected the Noranda/Teniente continuous bath smelting followed by Peirce Smith (PS) converting route to investigate the impact on total energy requirement of some key process variations, such as tuyere injection of dry concentrate vs. slingering of wet concentrate over the molten bath, continuous converting vs. conventional batch PS converting and commercially proven slag cleaning alternatives. In their calculations, the authors used the same thermochemical model and methodology used in their earlier paper. This approach to explore plant design options provides an interesting basis for evaluating flowsheet modifications that could lead to significant copper smelting energy savings. The METSIM software was used in the present paper to carry out heat and mass balance computations for 8 different flowsheet configurations. The results are presented and discussed in the paper with respect to copper recoveries, energy requirements and CO2 emissions.

Jan 1, 2011

INTRODUCTION Besides the European export credit agencies covered in Ted Rides' paper in this Chapter, other agencies are also active (see Appendix) but the most notable for mining projects are The Export-Import Bank of the United States ("US Exim") and the Export Development Corporation ("EDC") of Canada. Mexico's Fomex is basically a short-term trade-finance fund administered by the Central Bank. US Exim This independent agency can provide loans, guarantees, and insurance. Like all export-credit agencies, its mandate is to support the export of goods and services from the US as a means of competing against other countries' products. If a piece of mining equipment can only he made in the US, the US Exim may very well not provide any financial assistance. (It is important not to place the order for any item for which export credit is sought because, once ordered, the situation is no longer competitive in US Exim's eyes.) Direct Credits and financial guarantees ("buyer credits") are commonly in amounts greater than 85 million and for terms longer than six years. An example here is the $48.5 million provided to PT International Nickel Indonesia (see Robert de Gavre's paper in Chapter 12). US Exim usually requires a 15% downpayment and, therefore, finances up to 857 of the goods; less if the US content is lower. The dollar funding can he US prime, London Interbank Offered Rate (LIBOR), or other sources. Exim can fund in either or both of the following ways: 1. Under a US bank Letter of Credit ("L/C") 2. Reimbursement to the buyer/borrower via a US bank account. US Exim will, without charge, issue a preliminary commitment. It will, however, need to approve the various credit agreements and prefers to tie other parallel financings into one loan agreement. US Exim's total commitments are large, up to $5R billion in aggregate under various programs. US Exim has been the world's leader in medium-to long-term minerals project financings/ co-financings but suffers from (i) aggressive foreign export-credit competition whereby other nations mix in soft-loans or aid programs ("mixed credits") to increase the percentage financed and lower the interest margin and (ii) an imbalance in its own cost of funds. A common US Exim package would be as follows: 15% Banks under US Exim guarantee, floating rate over prime or LIBOR. 35% US Exim funding, fixed rate 35% Pefco funding, fixed rate 857 Drawn down pro-rata under US bank L/C 15% Cash down payment (may have been financed within a project/corporate credit) 100% Repayment usually begins six months after planned start-up in equal semi-annual instalments, with the banks usually paid out first, Pefco next, and US Exim last. Medium-term credits ("supplier credits") are issued for US equipment exports for terms up to five years, again for 85% of the equipment costs although the exporter is expected to bear at least 10% out of that 857 for its own risk. The buyer is required to be a first-class credit such as some governments or highly credit-worthy companies. Otherwise a bank L/C would be required. (This may be wrapped into an overall project-finance package for a minerals development. The project-finance banks provide an L/C to US Exim instead of funding that portion themselves.) US Exim guarantees 100% of the political risk and either 85% or 95% of the commercial risk for

Jan 1, 1985

By W J Fisher

Northern Australia leads in world-class mineral deposits' is a bold statement. First there must be a starting point. Land north of the Tropic of Capricorn (23¦ 26' 5") will be regarded as Northern Australia covering nearly 40 per cent of the land surface of Australia. As opposed to land south of the Tropic of Capricorn, it should be regarded as Tropical Northern Australia and for the sake of brevity, (TNA) Refer Figure 1. Apart from the tyranny of distance from centres of power and population in the temperate zone, it suffered in the past from the belief that the tropics are unsuited for European workers and from the lack of infrastructure. Outstanding mineral deposits of iron, base metals, gold and diamonds, discovered and developed in the past three decades, provided the substance for the title. There are many world-class mines producing and there are mineral deposits neutralised through Government policy. TNA can maintain its lead in world-class mineral deposits provided Government policy will stop partitioning the land and decreasing that available for exploration. Let's look at what we have that is world-class. In Western TNA iron ore deposits at Paraburdoo, Mt Tom Price, Marandoo, gold at Telfer, diamonds at Argyle. In central TNA uranium at Ranger and Jabiluka, lead-zinc-silver at McArthur River, gold at the Tanami, manganese at Groote Eylandt and bauxite at Gove. In eastern TNA Mt Isa, Hilton, Century zinc-lead, bauxite at Weipa, gold at Kidston, Mt Leyshon, magnesite at Yamba and coal mines in the Bowen Basin. Those mines or deposits stand out yet are only an indication of the numerous lesser mines and of mineral deposits depending for development on market demand and/or changes in Government policy, eg 'The Three Mines' policy. Very large areas of mineral rich structures in the western, central and eastern parts of TNA are concealed below flat lying comparatively young unmineralised sediments. The Great Artisan basin sediments in eastern TNA can and do host oil shale and non metallic minerals. Nearly 40 per cent of western TNA is covered by the Great Sandy Desert. The Canning Track, with a series of 54 wells, was constructed by surveyor Alfred Canning in 1908 - 1910 with great difficulty. It extends 1700 kilometres from Halls Creek in the north to the gold town of Wiluna in the south, through the Great and Little Sandy Deserts. Gold explorers are following favourable structures extending to the north east below the sediments and sand hills covering the track. Half of central TNA's mineral structures are concealed by the Tanami desert and the Cretaceous sediments covering the pastoral regions of the Barkly Tableland and the Daly Waters to Top Springs pastoral areas. The Georgina Basin in the south eastern section is part of the concealment.

Jan 1, 1994