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By Robert T. DeGavre

INTRODUCTION The $645 million financing for Inco Ltd's Soroako nickel project in Indonesia not only represents a significant human achievement but also there are certain important lessons that can be derived from Inco's experience in financing the project. The paper will not present a technical assessment of the project since Inco Ltd. submitted a series of papers on this subject at the international Laterite Symposium as part of the 108th Annual Meeting of the AIME in February 1979. BRIEF HISTORY OF THE SOROAKO PROJECT Table 1 summarizes the milestones achieved in the Soroako project and its financing. Exploration Phase A contract of Work was signed on July 27, 1968 by the Republic of Indonesia and F.T. International Nickel Indonesia (P.T. Inco) covering an extensive area of over 25,000 square miles on the two southeastern arms of the island of Sulawesi. The Contract provides that P.T. Inco has the sole responsibility for financing the project and determining the terms on which the financing should be obtained, that P.T. Inco has the right to receive and hold outside of Indonesia foreign exchange revenues and to freely dispose of such revenues, and that Indonesians have the right to purchase up to 20% of the equity of P.T. Inco over a period following start of production. P.T. Inco began field investigations in the Contract Area in August 1968. Preliminary reconnaissance sampling with portable drills broadly outlined areas of favorable laterite terrain which were then systematically sampled on surveyed grids. By early 1971 sufficient exploration work had been completed to indicate that the laterite deposits near Soroako could sustain a major nickel-producing plant (figure 1). Pilot plant studies in 1970 and 1971 at Inco's research station in Port Colborne, Ontario, using two bulk samples of Soroako ore material, also confirmed that the ore could be upgraded and treated for the recovery of its metal values. Feasibility Phase Encouraged by the results of its exploration program and pilot-plant work, Inco Ltd. commissioned Toyo Engineering Company of Japan in August 1971 to prepare a capital cost estimate for a relatively small nickel project called "Stage I". Stage I was to be a single-line pyrometallurqical process plant with an annual capacity of approximately 15,000 metric tons of nickel contained in 75% nickel sulphide matte (see Figure 2). Electric power was to be supplied by a thermal power station. It is important to recognize that Inco's strategy was to develop the Soroako ore deposits in several stages: first, construct a small project to gain experience and to reduce the initial capital outlay and then later expand in one or more steps to a much larger project to achieve maximum economies. The strategy reflected both Inco's financial position in 1971 as its sales and earning dropped sharply and the difficulties previously experienced by Inco in trying to launch in the late 1960's very large "greenfield" nickel projects in New Caledonia and Guatemala. Toyo's Project Development Study was completed. in January 1972. Based upon Toyo's cost estimate for physical facilities, Inco estimated the total capital cost of Stage I to be $115 million. For the next several months, Inco ran numerous in-house financial feasibility studies, using as inputs Toyo's cost estimate and the results of its exploration and pilot plant programs. In September 1972, Inco completed a project feasibility study which was based upon a capital cost estimate of $135 million. The feasibility study was immediately made available to potential partners and lenders. Partner Negotiations The Japanese nickel market had from the outset been central to Inco's planning for the Soroako project. That market had been growing dramatically at rates in excess of 20% per annum during the 1950's and 1960's. Japan had established, for rational security and other reasons, a domestic

Jan 1, 1985

By Robert T. DeGavre

I have been asked by the Society of Mining Engineers to present a paper on Inco Limited's Indonesian nickel project as a case study in the financing of large overseas mining projects. I welcome this opportunity It is a story worth telling not only because the project itself represents a significant human achievement but also because there are certain important lessons that can be derived from our experience in financing the project. The paper will be divided into four sections: (i) a brief history of the project, (ii) a critical appraisal of the project's financing plan in terms of the goals that we sought to achieve, (iii) some comments on certain factors underlying the relative success of the financing plan, and (iv) the contributions that the engineering staffs must make to a successful financing plan. The paper will not present a technical assessment of the project since Inco Limited has been asked to submit a series of papers on this subject at the International Laterite Symposium as part of the 108th Annual Meeting of the AIME in February 1979.

Jan 1, 1978

By Robert T. DeGavre

The $650 million financing for Into Ltd.'s Soroako nickel project is a story worth telling-not only because the project itself represents a significant achievement but also because there are certain important lessons that can be derived from our experience in financing the project. A critical appraisal of the methods and successes in the financing plan is presented in this article, in light of goals which Inco sought to achieve. A technical assessment of the project is not included, since Inco Ltd. has submitted a series of papers on this subject at the International Laterite Symposium as part of the 108th Annual Meeting of AIME in February 1979. Progress in developing and financing the project is encapsulated in the accompanying project factsheet.

Jan 3, 1979

By J. H. Zietsman, M. W. Erwee, Q. G. Reynolds

Pyrometallurgical furnaces, essential for metal extraction, operate at temperatures exceeding 1600°C and represent complex multiphase systems that challenge direct industrial research. Multiphysics models play a key role in shedding light on their intricate behaviours, supporting the refinement of design and operational strategies. Integral to the operation are the tap-holes, which facilitate the removal of molten products and are routinely opened by lancing, a process comparable to the use of a cutting torch, where high temperatures result from oxygen reacting with an iron lance. When the lance pierces the clay, oxygen gas enters the furnace, which could influence the behaviour of the molten material inside. In this work, a multiphase fluid flow model was used to investigate bulk flow dynamics, with a focus on the effects of the lancing process on the inside of the furnace, immediately behind the tap-hole. Incompressible and compressible multiphase fluid solvers were used and compared with respect their performance – the intention was to assess whether using a compressible solver would yield a different solution to the incompressible one. It was concluded that there are negligible disparities in bulk fluid flow behaviour between the solvers for the case studies examined, indicating that solver selection might be less consequential for certain aspects of oxygen lancing.

Apr 16, 2024

By Balmer Neilly

To one with so little experience in matters pertaining to currency, international finance, and foreign trade, this is surely an ambitions venture on my part. However, this is a subject of prime importance to all seriously minded Canadians and, if we are to obtain any clear understanding of the factors involved, we must study the facts and debate such points as may remain at issue. During the last few years, the world' s better known economists have described the gold standard in all its ramifications and in such detail as to leave many of us even more confused than before. If we, then, are to acquire any real conception of its meaning and use, I think we must reduce it to its fundamentals and start from there. To my way of thinking, gold in ? trade and commerce is the symbol of honesty. When you seek to discharge a debt by tendering paper you hand the recipient an I.O.U. which may or may not be good, for the purchase of goods or services to the extent of its face value. When, however, you discharge a debt by the payment of gold, it constitutes a complete and final discharge. There are no reservations - no ifs and ands - and the transaction is definitely closed to the satisfaction of all concerned. Gold, then, is evidence of accumulated and transferable wealth that is immediately acceptable in practically every part of the world. However, there is not nearly enough gold to meet the demands of world trade, and. many years ago this deficiency gave rise to what we now describe as our banking system.

Jan 1, 1949

By Murad Y. Abu-Farsakh, Md Habibur Rahman

The properties of all natural soil deposits are highly variable, and they are rarely homogeneous. Cone penetration tests (CPT) were used to assess the site variability, which was then incorporated into the Load and Resistance Factor Design (LRFD) of pile foundations. Data from six project sites with multiple CPT tests conducted at various locations were collected for this research. The semi-variogram was used to assess the spatial variability of CPT data (corrected tip resistance, qt) for each location. For each location, the coefficient of variation due to spatial variability (COVR,spatial) was calculated. From COVR,spatial and COVR,method, the total coefficient of variation (COVR,total) for each site was calculated, which was then used to calibrate the resistance factors (ϕspatial, ϕtotal) for use in LRFD pile foundation design. The findings of this study demonstrated the importance of using site variability in LRFD pile design. For sites with lower site variability than the design method (i.e., COVR, spatial < COVR, method), the value of the COVR, total will be decreased, and hence the resistance factors (ϕspatial or ϕtotal) will be increased (credit), and vice versa.

Sep 8, 2021

By T. A. Toney, L. R. Fish, P. J. Bethell

With new lightweight designs, spirals have become standard equipment in coal preparation plants worldwide. To their credit, spirals typically show very low coal losses to the refuse stream under most operating conditions. However, spirals do tend to separate at cut points in excess of 1.80 S.G. Attempts to obtain lower cut points have typically resulted in coal losses to middlings. Middlings retreatment with secondary spirals is therefore becoming common place. Other forms of retreatment with water-only cyclones, hydrosizers and recirculation have been attempted with some success. This paper reports on a novel (patent applied for) approach to retreating spiral middlings in a heavymedia cyclone circuit.

Jan 1, 2000

By T. A. Toney

With new lightweight designs, spirals have become standard equipment in coal preparation plants worldwide. To their credit, spirals typically show very low coal losses to the refuse stream under most operating conditions. However, spirals do tend to separate at cut points in excess of 1.80 S.G. Attempts to obtain lower cut points have typically resulted in coal losses to middlings. Middlings retreatment with secondary spirals is therefore becoming common place. Other forms of retreatment with water-only cyclones, hydrosizers, and recirculation have been attempted with some success. This paper reports on a novel (Patent Applied For) approach to retreating spiral middlings m a heavy-media-cyclone circuit.

Jan 1, 1998

By John T. Ryan

FOR the first ten months of 1942, on which data are available at the time this is written, the coal-mining industry achieved a most creditable safety record, and ha1 figures for the year may show a record surpassing that of 1941 in which the industry reached the best accident rate in its history. The ten- month accident rate for both bituminous and anthracite mining in 1942 was 2.197 fatalities per million tons of coal mined, compared with a revised rate of 2.271 for the same months of 1941. The bituminous rate decreased from 2.139 in 1941 to 2.039 for ten months of this year, and the anthracite rate shows a reduction from 3.707 to 3.699 for the same period.

Jan 1, 1943

By AIME AIME

THE No. 9 mine of the Wheeling & Lake Erie Coal Mining Co., a subsidiary of M. A. Hanna & Co., at Fairpoint, Ohio, has normally produced about 1000 tons of coal daily for several years, but recently it was converted into an experimental mine to afford means of studying new methods and equipment under consideration for development and mining. Among other projects, the possibility of using a duck-bill, self- loading conveyor in driving entries, with a view of in- creasing the rate of progress where quick development is of importance was studied. Actual operation soon revealed that even though break-throughs are made ,every 60 ft., as required by the state mining laws, the :amount of natural Ventilation reaching the working face was not sufficient to supply the men and that in ,order to obtain a plentiful supply of pure. air and maximum efficiency and to avoid costly interruptions after shots, it was necessary to supply auxiliary ventilation by using Ventube and a Vano fan.

Jan 1, 1929

By J. de Bakker

It hardly needs to be repeated that if coal is to continue as America’s premier source of cheap energy, it is absolutely necessary that the carbon dioxide from its combustion somehow be sequestered. A promising method proposed to accomplish this is the “indirect” carbonation of serpentine in a concentrated magnesium chloride brine. Indirect carbonation could be also applied to precipitate magnesium in lateritic nickel processing: this would not only solve magnesium-control problems in laterite hydrometallurgy, but also reduce its energy requirements and create CO2-sequestration credits. Fifty-five percent of the electricity generated in the United States comes from coal-fired power plants, and American coal reserves can last over 500 years at 1990-level consumption1. Coal is therefore both abundant and cheap: it could (and in fact probably will) continue to be an affordable source of energy, both for producing electricity and as a feedstock for liquid hydrocarbon production by Fischer-Tropsch reactions. As a result, it is important to find a workable method of permanently sequestering CO2.

Jan 1, 2007

By J. Trow

Dowsing is really IESG which inductively locates electric gradients (dv/dx) on the flanks of SP anomalies. "Sensors" are in one?s head. The "meter" consists of one?s body, limbs, and two $.69 welding rods. The method was calibrated near Mamainse Point, Ontario, where IESG-negative chalcopyrite-bornite-chalcocite-native copper ores reveal mineral zoning related to the IESG-positive Keweenaw fault, down which oxidizing solutions moved. In Michigan, the IESG-positive Keweenaw fault suggests that oxygen-bearing solutions from the Jacobsville Sandstone moved downward to oxidize hydrothermal sulfur to produce native copper, and to supply sufficient water to satisfy Walter White.

Jan 1, 1992

By William C. Spindler

Five industrial installations of large lead-acid battery energy storage systems in operation in the United States, West Germany and the &apos;Republic of South Africa will be described. One example is for a deep mine shaft in which air ventilation and personnel evacuation require the highest reliability for emergency power. The battery system is designed for additional cost-effective benefits of peak load lopping and reactive power control. Commercially available lead-acid batteries of the following types are in use1 traction, truck, submarine, high power, and gel. Electrode grids of both the calcium and antimony alloy types are used. Applications include deep and shallow cycling as well as float and intermittent use. The advantages of sealed lead-acid batteries in UPS (uninterruptible power source) systems are well established throughout the world, and such system suppliers could readily develop markets for industrial emergency and peak power lead-acid storage battery installations.

Jan 1, 1990

By William P. Jones

THE consumption of sulphuric acid, one of the most important commodities in our modern industrial world, is often used as a barometer for industrial activity. The economics of acid manufacture are largely dependent upon the location of the place of consumption and the availability of raw materials in that locality. Sulphuric acid is made from SO,, oxygen from the air and water. Therefore the sulphur dioxide is the only raw material to be considered in an economic study. SO, can be obtained from almost any material containing inorganic sulphur, such as elemental sulphur, pyrites, coal, sour gas and oil, metallurgical gases, waste gases, or gypsum and anhydrite. Many tons of acid can also be reclaimed by the recovery and concentration of spent acids. The aim of this paper is to present a guide to the economic aspects to be considered when the installation of an acid plant is contemplated. It must be remembered that 1 ton of elemental sulphur produces 3 tons of sulphuric acid and that the shipping of sulphuric acid by tank car is very costly. The size of the plant must also be given careful consideration. For instance, operation of a plant producing 5 tons of acid per day might be warranted in Brazil or Pakistan, whereas economics usually favor buying quantities up to 50 tons per day for use within the United States. Elemental sulphur, when available at the low price of 1M4 per lb delivered at an acid plant, has always been the raw material most frequently used for sulphuric acid. All conditions favor its use at this price. The so-called sulphur shortage has been the subject of so many technical papers, magazine articles, and newspaper items during the past y6ar that it hardly seems necessary to mention it again, but a very brief review of the matter will serve as a foundation for the discussion that follows. There is no shortage of sulphur. Only a shortage of low-cost Frasch-mined brimstone exists today. Other more expensive sulphur-bearing materials are plentiful, both in the United States and abroad. The low cost of Frasch-mined brimstone has discouraged the development of higher cost sources. However, the approaching depletion of Gulf Coast dome deposits and the greatly increased demand for sulphur here and abroad have made it necessary for industry to prepare for conversion to utilize sulphur in other forms. For future planning this situation must be considered permanent and not temporary. This conclusion is based on the fact that although sulphur demand will continue to rise, the production of Frasch-mined sulphur probably will not increase greatly beyond its present level of about 5,000,000 long tons per year. The International Materials Conference in Washington estimates 1952 requirements of the free world at nearly 7 million long tons; and the Defense Production Administration has recently set a new goal for 8,400,000 long tons annual domestic production by 1955. The total sulphur equivalent produced in this country in 1950 was 6 million tons. What, then, are the alternatives for the manufacture of the vital chemical, sulphuric acid? Today about 85 pct of this country&apos;s sulphur, and nearly 50 pct of the world supply, comes from our Gulf Coast salt domes and is extracted from the earth by Frasch&apos;s hot water process. The Gulf Coast salt dome deposits have been the most important known natural deposits in the world, producing 90 million tons of sulphur during the past 50 years. However, at the present rate of extraction these deposits cannot be expected to last indefinitely. Pyrites Pyrites are, and have been for many years, the source of more than 50 pct of the world&apos;s sulphur requirements. The principal use, of course, is in the manufacture of sulphuric acid. The use of pyrites in the United States has diminished greatly because of the availability of low cost native sulphur, but pyrites have continued a major source of sulphur in many other countries. The most available pyrites for use in this country are in the form of lump pyritic ore and in mill tailings from flotation of other minerals such as lead, zinc, copper, gold, and silver. An important factor, when the use of pyrites for acid manufacture is being considered, is the disposal of calcine. A ton of sulphuric acid requires approximately ton of high-grade pyrite and results in 1/2 ton of calcine. If the calcine is a fairly pure oxide, free of harmful impurities, it can be used, after sintering, in an iron blast furnace burden. Its value might be as high as 15d per unit of Fe at the blast furnace; or possibly $10.00 per ton of sinter, if it assays 65 pct Fe. This might result in a credit of $4.00 per ton of acid if the sintering plant and blast furnace are both located adjacent to the acid plant. On the other hand, several factors must be considered before this credit can be realized, i.e., freight to blast furnace, availability of sintering facilities, methods of eliminating impurities, and the removal of valuable metal values. In some locations it would be most economical to dump the calcines.

Jan 1, 1953

By William P. Jones

THE consumption of sulphuric acid, one of the most important commodities in our modern industrial world, is often used as a barometer for industrial activity. The economics of acid manufacture are largely dependent upon the location of the place of consumption and the availability of raw materials in that locality. Sulphuric acid is made from SO,, oxygen from the air and water. Therefore the sulphur dioxide is the only raw material to be considered in an economic study. SO, can be obtained from almost any material containing inorganic sulphur, such as elemental sulphur, pyrites, coal, sour gas and oil, metallurgical gases, waste gases, or gypsum and anhydrite. Many tons of acid can also be reclaimed by the recovery and concentration of spent acids. The aim of this paper is to present a guide to the economic aspects to be considered when the installation of an acid plant is contemplated. It must be remembered that 1 ton of elemental sulphur produces 3 tons of sulphuric acid and that the shipping of sulphuric acid by tank car is very costly. The size of the plant must also be given careful consideration. For instance, operation of a plant producing 5 tons of acid per day might be warranted in Brazil or Pakistan, whereas economics usually favor buying quantities up to 50 tons per day for use within the United States. Elemental sulphur, when available at the low price of 1M4 per lb delivered at an acid plant, has always been the raw material most frequently used for sulphuric acid. All conditions favor its use at this price. The so-called sulphur shortage has been the subject of so many technical papers, magazine articles, and newspaper items during the past y6ar that it hardly seems necessary to mention it again, but a very brief review of the matter will serve as a foundation for the discussion that follows. There is no shortage of sulphur. Only a shortage of low-cost Frasch-mined brimstone exists today. Other more expensive sulphur-bearing materials are plentiful, both in the United States and abroad. The low cost of Frasch-mined brimstone has discouraged the development of higher cost sources. However, the approaching depletion of Gulf Coast dome deposits and the greatly increased demand for sulphur here and abroad have made it necessary for industry to prepare for conversion to utilize sulphur in other forms. For future planning this situation must be considered permanent and not temporary. This conclusion is based on the fact that although sulphur demand will continue to rise, the production of Frasch-mined sulphur probably will not increase greatly beyond its present level of about 5,000,000 long tons per year. The International Materials Conference in Washington estimates 1952 requirements of the free world at nearly 7 million long tons; and the Defense Production Administration has recently set a new goal for 8,400,000 long tons annual domestic production by 1955. The total sulphur equivalent produced in this country in 1950 was 6 million tons. What, then, are the alternatives for the manufacture of the vital chemical, sulphuric acid? Today about 85 pct of this country&apos;s sulphur, and nearly 50 pct of the world supply, comes from our Gulf Coast salt domes and is extracted from the earth by Frasch&apos;s hot water process. The Gulf Coast salt dome deposits have been the most important known natural deposits in the world, producing 90 million tons of sulphur during the past 50 years. However, at the present rate of extraction these deposits cannot be expected to last indefinitely. Pyrites Pyrites are, and have been for many years, the source of more than 50 pct of the world&apos;s sulphur requirements. The principal use, of course, is in the manufacture of sulphuric acid. The use of pyrites in the United States has diminished greatly because of the availability of low cost native sulphur, but pyrites have continued a major source of sulphur in many other countries. The most available pyrites for use in this country are in the form of lump pyritic ore and in mill tailings from flotation of other minerals such as lead, zinc, copper, gold, and silver. An important factor, when the use of pyrites for acid manufacture is being considered, is the disposal of calcine. A ton of sulphuric acid requires approximately ton of high-grade pyrite and results in 1/2 ton of calcine. If the calcine is a fairly pure oxide, free of harmful impurities, it can be used, after sintering, in an iron blast furnace burden. Its value might be as high as 15d per unit of Fe at the blast furnace; or possibly $10.00 per ton of sinter, if it assays 65 pct Fe. This might result in a credit of $4.00 per ton of acid if the sintering plant and blast furnace are both located adjacent to the acid plant. On the other hand, several factors must be considered before this credit can be realized, i.e., freight to blast furnace, availability of sintering facilities, methods of eliminating impurities, and the removal of valuable metal values. In some locations it would be most economical to dump the calcines.

Jan 1, 1953

By H. M. Woodroffe, H. K. Conn, S. J. Rice

World production of asbestos is estimated to be at a current level of almost 3.5 million tons, having more than doubled in the past ten years. A substantial part of the increase has been due to a rapid expansion in the Soviet Union. Production from that country during 1964 is estimated at 1.5 million tons and, as a consequence, Russia has displaced Canada as the leading world producer. Although traditionally the asbestos mining industry has been centered near Sverdlovsk in the Urals, two new producing areas have been under development for some time. It is expected that a new mine will be in operation in 1965 near Kiembi, Kazakhstan, some 300 miles south of Sverdlovsk, and an- other mine at Aktrovak in Tannu-Tuva, west of Lake Baikal. These developments will provide a significant increase in the production capability of Russia. Although internal consumption is expected to increase with the addition of new asbestos- cement producing facilities now under construction in Russia, there is some speculation that exports will also increase.

Jan 2, 1965

By Gill Montgomery

At this moment in the history of the world, the all- pervading and universally most important fact is that the world population is beginning to outgrow its food supply, and the United States has suddenly lost its ability to give away huge food surplus to any nation in the world with a food shortage problem. This, of course, means that, all of a sudden, our government must completely reverse its former bureaucratic stance regarding crop controls and agricultural price supports, to out-right incentives to increase farm production and bring more idle land into food-growing use.

Jan 2, 1967

By Alfred W. G. Wilson

THE ultimate purpose of the Chemical Manufacturer is to produce consumer products which can be sold to customers. Such production and sales can be continued only if the operations yield a profit to the manufacturer and if the products meet the requirements o the consumer--bath parties to the transaction must be satisfied. There are vast numbers of consumer products, made by chemical pro-cesses. The production of some of these ultimate products may involve the use of several intermediate chemicals, applications of few or many different processes, and the utilization, somewhere in the series of operations, of a variety of raw materials. On the other hand, some ultimate products have a very simple chemical history between raw materials and end products. There are no chemical products in use which are completely independent of the mineral industry. For many, the association is direct and obvious; for others, it may be indirect and even obscure. Analyses of the process and raw-material ancestry of a very large number of consumer products would suggest that many products are derived from Industrial Mineral products directly, that there are many in which the connection is indirect, and that there are only a few products with which industrial minerals are not in some way or other associated. The vast majority of the more important chemical products, and especially the basic chemicals from which other products are made, are directly dependent for their production upon Industrial Minerals or their derivatives. In the preceding part of this paper, for each raw material mentioned some references have been made to the leading chemical products based on this material. This, however, is only part of the story, because in most cases the consumer product can be made from any special raw material mentioned only by the use of other materials or chemicals made from them. The production of consumer chemicals is really possible only through an intricate interlocking of processes, materials, and apparatus.

Jan 1, 1940

By J. W. McCammon

WHEN times are booming and metal prices are high, most mining men pay little attention to the industrial mineral industry. However, when metal prices drop and mines close down, many mining eyes begin to scan the less glamorous non-metallic field. For some this proves a temporary diversion, but others find this branch of mining, with its generally more stable conditions, to their liking and enter it permanently. The resulting gradual influx of trained mining men into the industrial mineral industry ?has been one of several factors responsible for the rise in production of non-metallic materials in our Province. Another and ?perhaps the most important factor influencing the production of industrial minerals has been the growth in the population of British Columbia. Because most industrial minerals .are low priced and either heavy or bulky commodities they are normally sold on relatively local markets. Thus the extent of the development of the industrial mineral industry of a region is largely governed by the size of the population and the level of industrialization of that region. This point is well shown by com-paring population and industrial mineral production statistics for 1936, 1946, and 1956 (see Figure 1)9. Note that not only has the overall production rate grown with the population increase, but that the per capita production has risen greatly.

Jan 1, 1958

By R. L. Virta

Four companies mined ball call in four states in 2009, H.C. Spinks Clay Co. Inc. (owned by Lhoist Group), Kentucky-Tennessee Clay Co. (owned by Imerys Group), Old Hickory Clay Co. and Unimin Corp. Production, on the basis of preliminary data, was 820 kt (904,000 st) with an estimated value of $39.4 million. That was a 15-percent decrease in tonnage from 967 Mt (1.1 mil-lion st) with a value of $44.3 million that was produced in 2008. Tennessee was the top producing state with 59 percent of domestic production, followed by Texas, Mississippi and Kentucky. About 71 percent of production was airfloat, 18 perc

Jun 1, 2010