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By Catherine C. Kilgore

The Bureau of Mines investigated the availability of fluorspar (CaF2) from 36 U.S. and 50 foreign mires and deposits in 13 countries. Only 6 U.S. properties are considered to be economic, as 29 domestic deposits were found to have an average total cost of production that was uneconomical at a breakeven (0-pct) discounted-cash-flow rate of return (DCFROR). The 50 foreign properties evaluated represent at least 55 pot of demonstrated fluorspar resources located in market economy countries and China. Al I evaluated foreign operations were found to be economic to marginally economic in January 1984 dollars when compared against published prices for each country. Reserves for 56 properties totaled 97 million metric tons (mt) (recoverable Ca F,) from demonstrated ore resources of 344 million mt that contained 123 million mt CaF2. The average total cost needed to cover all costs over the life of each operation was determined for all recoverable fluorspar products. Comparisons of ruining, beneficiation, and transportation costs per metric ton of fluorspar concentrate illustrate advantages between countries. Of the three countries with the greatest fluorspar production, China, with its high-grade, low-cost operations had the lowest weighted-average total cost of production ($38/mt concentrate), Mexico was next, at $54/mt concentrate, and benefited in U. S. dollar terms from the devaluation of the peso. The Republic of South Africa needed an average of $90/mt of concentrate to cover all costs of production at its large low-grade deposits.

Jan 1, 1985

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Jan 1, 1985

By Branch of Editorial Services

"The Bureau of Mines was established in the public interest to conduct inquiries and scientific and technologic investigations concerning mining and the preparation, treatment, and utilization of mineral substances; to promote health and safety in the mineral industries; to conserve material resources and prevent their waste; to further economic development; to increase efficiency in the mining, metallurgical, quarrying, and other mineral industries; and to inquire into the economic conditions affecting those industries. The organic act of the Bureau, as amended by Congress and approved February 25, 1913, made it the province and duty of the Bureau of Mines to ""disseminate information concerning these subjects in such manner as will best carry out the purposes of this Act.""In accordance with this directive, the Bureau reports the findings of its research and investigations in its own series of publications and also in articles that appear in scientific, technical, and trade journals; in proceedings of conventions and seminars; in reference books; and in other non-Bureau publications. The number of these reports, the wide range of subjects they cover, and the variety of mediums in which they appear make the kind of list and index presented in this special publication both necessary and valuable. This issue of the Bureau of Mines List of Publications and Articles describes reports and articles published during the period January 1, 1980, to December 31, 1984. It supplements the 50-year list of Bureau publications issued from July 1, 1910, to January 1, 1960;1 the 50-year list of articles by Bureau authors published outside the Bureau from July 1, 1910, to January 1, 1960;2 the 5-year lists of publications and articles from January 1, 1960, to December 31, 1964,3 from January 1, 1965, to December 31, 1969,4 from January 1, 1970, to December 31, 1974,5 and from January 1, 1975, to December 31, 1979;6 and the annual lists of Bureau publications and articles from January 1 to December 31, 1980,7 from January 1 to December 31, 1981,8 from January 1 to December 31, 1982,9 and from January 1 to December 31, 1983. 10"

Jan 1, 1985

By W. A. Gow, G. M. Ritcey, M. C. Campbell

"Uranium is a unique commodity. It is both a metal and a fuel, It has both commercial and military uses. It yields ""clean energy "" but presents environmental concerns. All of these factors have an impact on the commerce of uranium.Being a metal, uranium is extracted from ore like many other metallic minerals. As a fuel, it is subject to the vagaries of energy commodity market forces. The history of uranium in the first nuclear weapons has led to nation al governments carefully controlling production and sale of uranium. The spectre of radioactive contamination of the environment adds further to the public concern over the disposal of low-level radioactive wastes from uranium processing and use.There have been a number of excellent reviews on the commercial aspects of the uranium industry. In this discussion, these aspects will be briefly summarized to provide a general picture of the strengths of the Canadian uranium industry and the pressures to which it is being subjected currently. The principal thrust of this paper will be to outline Canada&apos;s resource strength and to identify some factors which will affect Canada&apos;s ability to continue holding a sizeable share of the world uranium market."

Jan 1, 1985

By Paul S. Goodman

This report examines absenteeism and accidents. The first section provides some background information on absenteeism. The second section examines trends in absenteeism in underground coal mines over time. The third section examines causes of absenteeism. Models were examined. The first model looks at self-report reasons for absenteeism. The second examines demographic correlates of absenteeism. The third model includes demographic and attitudinal predictors of absenteeism. The next section of the report examines the effect of absenteeism on accidents. The last section contains strategies for reducing absenteeism.

Jan 1, 1985

By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco&apos;s development of the Weipa bauxite deposits in Northern Queensland in the late 1950&apos;s, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960&apos;s, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA&apos;s interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt&apos;s is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor&apos;s balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor&apos;s activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER&apos;S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By H. E. James

Much has been said and written about the need to reduce South Africa&apos;s dependence on gold. To compensate for the decline in the country&apos;s foreign-exchange earnings resulting from the phasing out of gold, which must inevitably occur at some future date, a far higher priority will have to be placed on the mining, beneficiation, and export of the 59 other mineral commodities produced in South Africa. The basic strategy of the mining and metallurgical industries should be to move from the traditional approach of establishing a resource base to the establishment of a market base; to turn from production orientation to market orientation; and to rely less on exploration and economies of scale and more on process innovation and product development. The enthusiasm, entrepreneurial spirit, and commitment of the leaders in the mining and metallurgical industry will clearly be of decisive importance in the establishment of new industries for the beneficiation and export of added-value mineral-based products. The State can make a significant contribution by the provision of a welldeveloped and efficient infrastructure, including rail and harbour facilities, communications and health services, roads, and of electricity and water supplies. In our search for a new development strategy for the beneficiation and export of South Africa&apos;s minerals, we need to recognize that no one nation has all the mineralresources that it needs. Commercial and strategic manipulation of mineral supplies should no longer be tolerated. The future of the human species lies in international cooperation and in a greater understanding of the limitations of the world we live in.

Jan 1, 1985

By Robert T. DeGavre

INTRODUCTION The $645 million financing for Inco Ltd&apos;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&apos;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&apos;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&apos;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&apos;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&apos;s very large "greenfield" nickel projects in New Caledonia and Guatemala. Toyo&apos;s Project Development Study was completed. in January 1972. Based upon Toyo&apos;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&apos;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&apos;s planning for the Soroako project. That market had been growing dramatically at rates in excess of 20% per annum during the 1950&apos;s and 1960&apos;s. Japan had established, for rational security and other reasons, a domestic

Jan 1, 1985

By James W. Stewart, A. C. Colvine

Introduction Precambrian shield terrains the world over are experiencing an unprecedented level of concerted exploration for lode gold deposits. Reasons for this include: • The increase in the price of gold (following 40 years at $1.13/g or $35 per oz) has transformed targets that were once unattractive into viable exploration propositions. • The relatively suppressed market for other metals produced from shields (base metals, nickel, iron, and uranium) has further focused exploration attention on gold. • The preeminence of gold production from rocks of early Precambrian age, as shown in Fig. 1. • The relatively high grade of gold in these mines (averaging about 10 Wt or 0.29 oz per st) permits profitable extraction even under depressed gold prices. A number of these mines have been in continuous operation for more than 50 years. • The recent discovery of the major Hemlo deposit, in well exposed rocks adjacent to the Trans Canada Highway, has had a world-wide impact. This demonstrates that a major new deposit can be found even in an accessible, well exposed area of a shield; gold mineralization is susceptible to rational exploration; and new target types for gold exploration exist. This paper reviews exploration activity for gold in shield terrains worldwide (Fig. 2), excluding Early Proterozoic paleoplacers of the Witwatersrand type. Emphasis is on the Archean, which is traditionally the most productive part of the Precambrian shields. There is also an emphasis on the Canadian shield (Fig. 3) because of its vast areal extent and exceptionally broad range of mineralization styles. Geological Approach A basic problem exists in gold exploration when compared to exploration for base metal massive sulfides that predominated during the 1960s and 1970s. Gold concentrations cannot usually be detected by airborne geophysical instruments. The majority of massive sulfide deposits were detected using airborne electromagnetic detectors and magnetometers. A full 75% of Canadian gold discoveries can be credited to surface prospecting. The percentage is even higher in other countries. This observation allows for great optimism for two reasons: • Large areas of shield terrain are obscured by either surficial deposits (glacial tills, clays, and desert sands) or deep surface weathering. This makes them inaccessible to prospectors. Logic dictates that such obscured areas should have the same potential for gold concentration as has exposed bedrock. • The Hemlo style of mineralization, a roughly tabular ore body where gold is associated with disseminated sulfides, is different from the traditional prospecting target. The gold is hosted by discrete quartz veins. While it is true that limited discoveries were made at Hemlo more than 30 years ago, and this style of mineralization is present elsewhere, recent

Jan 12, 1984

By Joseph R. Wojcik

Introduction Placer deposits account for one-half to two-thirds of the total gold produced worldwide. As many as 311 t (10 million oz) have been produced from some major districts. Several others are credited with 155 t (5 million oz). All the major districts and many lesser ones have similar characteristics. Consideration of these characteristics offers insight into the origin of gold in the deposit. Knowing the gold deposit&apos;s geologic history leads to useful conclusions in exploring for placer deposits and for deposits in consolidated areas. Placer Deposit Characteristics Table 1 lists 17 placer gold districts around the world and their characteristics. These include type and age of, mineralized source rocks, associated intrusive rocks, and age of intermediate sedimentary cycles. Although quartzite or sandstone occurs in the bedrock sequence in four of the 17 districts, slates, phyllites, or schists are present in all of the districts. Additionally, in all but three, the slates are pre-Mesozoic. And, in six of the remaining 14, the slates are Precambrian. Rocks intrusive into the slates are all of intermediate to acidic composition and are emplaced as stocks, dikes, or sills, rather than being batholithic in proportions. Intermediate interceptors have not been recognized in only three of the 17 districts. Data from China and Mongolia are inconclusive as to this characteristic. Black Shale Gold Higher than average gold values are found in modern sedimentary rocks in coarse granulites, conglomerates, sandstones, and gray-wackes. Not so predictably, higher than average gold values also occur in black shales and carbonaceous argillities. Li and Shokena (1974) found that, in the Proterozoic sedimentary and equivalent metamorphic rocks of the Enisei Ridge, carbonaceous and graphitic phyllites and schists were particularly enriched in gold. Korotayeva and Polikarpochkin (1969) reported gold content in organic rocks to be enriched up to 15 times more than the organic free shales and siltstones of the Nerchinsk Zavod region of eastern Transbaikal. Black shales can be gold interceptors as are rocks of the granulite facies. Gold occurs in shales in particulate, free form, in pyrite, adsorbed on clays, and precipitated on carbon. In copper-bearing shales of Poland&apos;s Fore-Sudetic monocline, Kucha (1973) reported gold present in organic compounds as well as in silver bearing minerals. Anoshin (1969) found a strong correlation between gold and the pelitic fraction of sediments in certain rocks of the Atlantic Ocean basin. Heavy metal absorption on clays results in agglomeration to the extent that the particles settle with the heavy mineral fraction in enriched strata. Piper and Graef (1974) think that gold in sediments on the flank of the East Pacific rise is of lithogenic origin. Crockett (1973), however, proposed a volcanogenic exhalative origin. A strong correlation between gold and volcanic activity exists in rocks of the Canadian Shield where tuffaceous sediments and porphyries are more frequently enriched in gold than rocks with no volcanic components. Volcanic rocks of intermediate to acidic composition are considered here to be the primary source of gold in black shales. Gold is concentrated in shales as detrital free grains with diameters less than 50 µm (270 mesh), as precipitates, and in pyrite or other sulfide minerals. This is the first step in the history of gold placer deposits. Grain Size Modification Gold, as free grains with diameters less than 50 µm (270 mesh), is too light to be concentrated hydraulically into placer deposits. Some process has increased the average size of the gold grains. Mobilization during regional metamorphism converts most of the gold into particulate grains or entrains it in microfractures in the sulfide minerals. With moderate folding, small, white, vitreous quartz veins develop. As deformation continues, larger, more conspicuous quartz veins are formed. The larger veins are folded and faulted and contain native gold as minute specks and flakes not visi-

Jan 11, 1984

By Howard L. Hartman

Introduction The federal government&apos;s declining role in funding research has created a critical dollar gap for university departments of mining engineering. Industry, too, is affected by the drought. Research is lagging. Hardpressed universities are going to the private sector for funding. Mining companies should not shower universities with philanthropy, but a research partnership should be contracted on a pay-as-you-go basis. A model exists at The University of Alabama (albeit not in mining) that could be adopted by the mining industry. An equal partnership arrangement between a university and an industry for conducting research is proposed. The concept is not that a corporation sponsors and a university performs the research. Nor does it call for educational contributions or giveaways from industry. Rather, the corporation and the educational institution enter into a cooperative research endeavor, a full and equal partnership. Both parties contribute and both share the benefits. A key to the relationship is that it has a single objective: it must generate profits or reduce costs for the company. Working Model Recent literature is replete with examples of proposals for joint research endeavors, involving both contracts and grants, between industry and universities (Bronwell, 1971; Bugliarello, 1978; Branscomb, 1981; Sanford and Holland, 1982). They are all good proposals and offer something to both parties. They are, however, not widely supported. Few have received a favorable nod from the US mining industry. Though it may be logical, for example, to remake the American Mining Congress (or some new consortium) in the mold of umbrella-type industry organizations to fund cooperative research with mining institutions, such proposals have never flown. What model, then, will work? First, look for a model that has worked in industry in general. Second, seek to apply it to mining specifically. There is a model project that satisfies the first of those criteria. It is a project complicated by a third party, in addition to a corporation and a university. In January 1983, the "Factory of the Future Project" was initiated between The University of Alabama (UA) and General Motors Corp. (GM). The United Auto Workers (UAW) is a third party to the agreement. The factory was GM&apos;s Rochester Products Division manufacturing plant in Tuscaloosa, AL, also home of UA&apos;s main campus (Fig. 1). Saving a Plant The agreement came about at the initiative of GM and the UAW. Faced with having to close the plant because of excessive production costs, company and union officials proposed to the university that an applied research facility be established at the plant. The university would operate the laboratory, dedicated to $470,000 a year cost reductions for the company. The school would lease the 5.1 km2 (55,000 sq ft) space for $470,000 a year for three years. Any savings effected by the university&apos;s research effort would be credited toward to the rent. GM said the small factory, which made replacement carburetors

Jan 9, 1984

By Robert B. Parsons

"With several hoots of the whistle, Canada&apos;s fiscal engineers are once again cranking up the income tax locomotive, in an effort to inject new stimulus into a stubborn economy. And once again, additional gears, wheels, levers, and other mysterious part s are being added to the already complex machinery in order to accommodate the new push.This time, a significant new mechanism involves a major overhaul and expansion of the investment tax credit system.Although the shiny new devices have considerable appeal to a certain group of potential passengers, one wonders if all of the renewed chugging and huffing is on the right track.IntroductionAs indicated in Tax Notes in the July 1983 issue of CIM Bulletin , the April 19, 1983 federal bud get introduced a number of new measures which would permit investment tax credits and research and development deductions to "" flow through "" from a corporation to another taxpayer."

Jan 1, 1984

By L. Y. Sadler

This report summarizes the findings of a 9-yr research program, sponsored by the U.S. Department of Energy and conducted by the Bureau of Mines, to evaluate refractory liner materials for coal gasifier reactors. Commercially available refractories were exposed to coal gasifier reactor environments, reproduced in the laboratory with a high-temperature, high-pressure test facility, followed by extensive postexposure evaluation. Thirty-six castable or gunnable refractories and cements and 24 refractory brick were evaluated. The behavior of castable refractories reinforced with stainless steel fibers was also examined. Gas environments that were evaluated included steam, H2, CO2, CO, and typical high-and low-Btu gas mixtures. Exposure pressures ranged from 100 to 1,000 psig, temperatures from 5000 to 1,1000 C, for periods from 50 h to 2,000 h. In some exposures, sodium and/or potassium hydroxide were introduced in order to simulate a high-alkali environment. It was found that intermediate-and low-alumina refractories produced from domestically available raw materials, rather than high-alumina refractories produced from imported raw materials, gave the best service as liner materials and that alkali attack was probably not a serious problem with most refractories. Based on the results of this program, good choices of refractory liner materials for gasifier reactors can be made.

Jan 1, 1984

By Richard J. Stoehr

Man has mined in all his time on earth about 3 billion ounces of gold. About one-half of this has been mined in the past 35 years. This gold is roughly in 3 large holdings: one-third held as reserves in Central Banks; one-third held as personal reserves; and one-third is in jewelry or other fabricated products. The world per capita availability of mined gold is increasing and there are many factors and forces shaping gold&apos;s future. Currently, gold has a favorable exchange ratio and this is encouraging many new gold-mining developments. Production is increasing and new techniques are surfacing. The use of gold in the financial markets is increasing in some unique ways and gold is again fulfilling its role as a universal money, making gold&apos;s future predictable. Currently, man is mining gold at the rate of approximately 44 million ounces annually and is therefore adding to the total supply of gold approximately 1.5% of newly mined gold each year. This current production plays a small role in the pricing mechanisms since a very large part of the 3 billion ounces mined in all of history is available to the market in one form or another.

Jan 1, 1984

General economic conditions continued to improve in the second quarter of 1984 as real gross national product advanced at an annual rate of 7.5 percent (table 1). This followed an even larger first quarter annual rate increase of 10.1 percent. The slower second quarter growth was greeted as a sign that the economy is not over-heating. The signs of slowed growth in some sectors suggest that the recovery may continue well into 1985 without the inflation symptomatic of a rapid recovery. Most of the slowdown in growth was absorbed by business inventories, personal consumption of durable goods, and residential fixed investment. Business inventories grew by only 68 percent as much as in the first quarter, personal consumption for durable goods grew by 58 percent of the first quarter rate, and residential fixed investment slowed to only 44 percent of the first quarter growth. Sectors with accelerated growth in the second quarter included personal consumption of nondurable goods and of services, which increased at annual rates of 9.6 percent and 3.8 percent, respectively, and Federal purchases of goods and services, which increased at an annual rate of 47.9 percent.

Jan 1, 1984

By Louis D. Murino

Compared to coal or many metals industries, talc must be considered a small, specialty market catering to niches and dependent primarily on the physical attributes of the mined and processed mineral rather than the chemical attributes with copper, lead or uranium concentrate, the primary objective is the percent metal that ultimately is refined by the smelter, as opposed to the brightness, particle size distribution, trace impurities or morphology. The latter constitute the important determinants of where, how and why talc and similar industrial minerals are used. This paper addresses the talc market-place: where it is, how much of a market there is, who the producers are, available capacity, market growth, and marketing techniques.

Jan 1, 1984

Data released by the Commerce Department&apos;s Bureau of Economic Analysis show continued gradual change in the real GNP&apos;s rate of growth in 1984, which has eased from an annual growth rate of 10.1 percent in the first quarter lo 7.1 percent in the second quarter, and then to 2.7 percent in the third quarter. The automobile industry strike in the last half of September had only a small effect, estimated at less than a 0.1 percentage point reduction in the growth rate. Among the components that comprise the GNP, personal consumption and fixed investment grew at lower real rates in the third quarter than in the second quarter, while net exports decreased. Personal consumption expenditures increased $0.4 billion in the third quarter, compared with an increase of $20.1 billion in the second quarter. Nonresidential fixed investment increased $3.9 billion in the third quarter, compared with $9.6 billion in the second quarter. The other component of fixed investment--residential investment--increased from $60.8 billion in the second quarter to $61.2 billion in the third quarter. Real net exports of goods and services decreased $1 1.3 billion in the third quarter, compared with a $3.1 billion decrease in the second quarter. Although exports increased from an annual rate of $144.7 billion to $150.2 billion, imports increased much more, from an annual rate of $1 56.2. billion to $172.8 billion (table 1).

Jan 1, 1984

Data recently released indicate substantial improvement in mineral industry performance for 1984. Business plans to increase plant and equipment spending in 1984 by 14.8 percent, according to a recent survey conducted by the Commerce Department&apos;s Bureau of Economic Analysis (table 1). In contrast, capital spending by all industries declined 4.8 percent in 1983 and 2.3 percent in 1982. The latest estimate of planned expenditures for 1984 is $2.2 billion higher than the comparable estimate based on the survey conducted in late January and February 1984.1/ [ ] Of particular significance to the U.S. mineral industries are the 15.5-percent increase in capital spending planned by manufacturing in 1984 and the planned 18.6-percent increase in spending by durable goods manufacturing, where the largest increases are planned in the transportation equipment (26.4 percent) and electrical machinery sectors (23.5 percent). Capital expenditures in manufacturing declined in both 1982 and 1983.

Jan 1, 1984

Is your company paying taxation on profits which are partly illusory?ò Are unions making wage demands based on erroneous notions of the real level of value added to your companyÆs production?ò Do you receive historic data on profit contributions by different products, or for different market areas, which you feel may be misstated?ò Do you find that cash is not always readily available to pay dividends out of reported earnings because, it is required to finance additional working capital without a real increase in the level of activity?ò Are your planning and budgeting routines hampered by the need to rely on historic financial data which bear little resemblance to what the future may hold for your company?ò Are you able to maintain your business at its optimum operating capability or do you feel each year that it becomes more and more difficult to achieve the same volumes of prdduction at the same level of return on assets employed without having to raise more capital?If your answer to any of these questions is &quot;yes&quot;, then it is very likely that Current Cost Accounting (CCA) has something to offer you!characteristics of the mining industry and for single venture mining operations.

Jan 1, 1984

By James E. Hoffmann

This paper reviews the chemistry of selenium and its compounds as it applies to the recovery of selenium from electrolytic copper refinery slimes. Based on this chemistry various processes for the extraction and recovery of selenium from refinery slimes are explained and developed. The optimum selenium technology processes is dependent upon many factors including copper refinery location, environmental and regulatory conditions, local markets for selenium or selenium chemicals, and other plant processes. For this reason there is no one best process but rather a variety of useful processes for winning selenium. Those which have demonstrated consistent utility in both ease of recovery and reliability are discussed in more detail. Recovery of selenium by Doré furnacing of slimes is the topic of a separate paper. The companies that have developed selenium extraction technology are not being cited in this paper for the following reasons: o Their current technology may be different o The actual inventor of a process is difficult to credit since many different organizations have pursued parallel inquiries in developing better processes. Finally, some selenium extraction processes have been omitted; not because they are unworthy of consideration but rather due to limitations of space.

Jan 1, 1984