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By W. P. Johnstone

The computer assisted generation of geological models to represent the geometry of, and grade distribution within, orebodies is a rapidly growing area of the geological profession. Such models are increasingly used as a necessary starting point in determining the mineability of mineral deposits in terms of practical mine design and economic considerations. The transition from traditional techniques such as field or underground mapping and the manual calculation of grade and tonnage estimates, as well as related activities such as the interpolation of cross-sections, the use of stereographic projections, core logging and hand contouring, to computerized applications, is by no means complete. In fact, many geological professionals deliberately avoid the use of computer simulations based on the perception that the resulting models are simplistic and that their construction is not founded on sound geological principles. The purpose of this paper is to assess current thinking on this topic by considering; (a) an overview of advances in the drafting of geological maps, (b) the theoretical basis for multi-dimensional geological modelling, (c) the case for combining traditional and modern techniques, and (d) the benefits to the mining value chain.

Jan 1, 2003

By E. Gallestey, D. Groenveld, F. Kolb, M. Rozou

"Recent copper price evolution pushes modern mining industry even harder to achieve highest production with maximum efficiency. Operations are bound by numerous contractual and environmental conditions that bring a high degree of complexity to both the operators controlling the process and the plant managers assessing the circuit’s potential and setting the production goals.Advanced process control (APC) for grinding is one important tool to operate this most energy intense area in an optimal way, finding the optimal trade-offs between highest throughput, energy efficiency and product quality based on variable ore properties, production targets and management priorities.ABB’s state of the art control and optimization software platform enables user to design a controller based on model predictive control (MPC). The paper and the presentation show the technology used and the results achieved through an APC controller installed in a pilot project in Aitik (Boliden SA), Sweden. Furthermore, possibilities to interconnect grinding with other areas as stockpile management and flotation with various interconnected APC controllers will be shown. Finally, an example of the return on investment and the payback times based on the increased throughput and better product quality will be presented.INTRODUCTIONDepending on the ore characteristics and the targeted plant capacity, the design of the grinding circuit may vary significantly. Typically, the circuit consists of several mills (rod, ball, SAG, AG) in series and/or parallel with a number of classifiers and sumps at appropriate locations (see Figure 1).The main goal of the grinding section is to reduce the ore particle size to a level that enables efficient separation between gangue and precious metals in the subsiding processing step. The trade-off between quality and quantity has to be made. At the same time, it is also crucial to execute this process at the lowest possible energy and grinding media consumption."

Jan 1, 2015

By C V. B Cunningham

The assessment of blasting results under production conditions is extremely difficult. As a result, it can take months or years to establish objective and valid estimates of explosive performance in achieving rockbreaking goals. This fundamental problem often results in decisions related to the manufacture, marketing, purchase and use of explosives being largely swayed by calculated energies from detonation codes. However, these codes are by no means standardised. Different energies are given by different codes because these employ varying combinations of fundamental science and empiricism. After a basic review of code operation, important guidelines to dependability are given with reference to ICI’S state-of-the-art codes IDEX and CPEX. Distinctions are drawn between Ideal, Non-Ideal and Blasting Codes. Concepts of explosive energy are discussed in brief.

Jan 1, 1991

By Murad Y. Abu-Farsakh

This paper presents the analyses of load-transfer (t-z) behavior of twelve prestressed concrete (PSC) instrumented test piles that were driven in different locations of Louisiana. The load transfer method is an efficient and practical tool for the analysis of single driven pile to predict the ultimate load. The test piles were instrumented with vibrating wire strain gauges in order to calculate the shear transfer for different soil layers during the static load test. The static load test was performed on all the test piles after 10 to 14 days of end of driving. Empirical load-transfer models were proposed previously by different researchers (Fleming 1992, Hirayama 1990, Krasinski 2012, Bohn et al. 2017) after analyzing the instrumented test pile results. For this study, load transfer of each soil layer was measured and compared with the previously developed existing model. The stiffness parameter (M) for the hyperbolic equation was calibrated in order to best match the measurements. The good agreement of the proposed curves was then confirmed by applying them to assess the overall load-settlement curve of other pile load test results available in the literature. INTRODUCTION The load transfer mechanism (stress-strain relationship) for an axially loaded pile usually comprises of three loading mechanisms: axial deformation in the pile (z), soil skin friction along the shaft (qs), and soil end-bearing (qb). The development of soil skin friction with axial deformation is referred as the t-z curve, and the development of soil end-bearing with axial deformation is referred as the q-z curve. Figure 1 presents the load transfer mechanisms in an axially loaded pile and the corresponding spring mass models for t-z and q-z curves (API, 2002). In order to construct the load transfer curve in clay under vertical load, the axial load transfer (t-z) curve and end-bearing load transfer (q-z) for that particular soil should be assessed separately. The axial load transfer (t-z) method is probably the most widely used technique to study the problem of single axially loaded piles. Therefore, the load transfer through the shaft of the pile and are getting more and more important compared to the only the pile capacity analyses. The load transferred from shaft to the surrounding clay soil is a function of the width of the pile and the surface roughness of the pile and clay properties. The development of a representative procedure allows the assessment of the t-z curve in soil (sand and/or clay) that leads to the prediction of a nonlinear vertical load-settlement response at the pile head.

Jan 1, 2018

By David Ziegler

Rough sketches, field notes, an on-site conference or a phone call may no longer suffice to establish your blast plan at a job site. More and more, general contractors, site supervisors, owner re p resentatives, or the owners themselves want to know details about proposed drill and blast operations at their site, in advance. We are seeing more contracts that re q u i re a blasting plan to be submitted in writing. The purpose of this session is to discuss items that you might want to include and address in a written blast plan, and some ideas about how to present them. This is not intended to be a complete list of items that could be included in a blast plan. Contracts may list specific items that need to be addressed. Only a few of the more common elements will be covered here. The bro a der purpose of this discussion is to get you thinking, about what you might want to include in your own “standard ” blast plan.

Jan 1, 2004

By Alexander Malahoff

The summit of L_ihi submarine volcano changed dramatically after seismic activity beneath L_ihi during the month of August 1996. Bathymetric re-surveys of the L_ihi edifice using SeaBeam, Simrad and deep-towed Reson-Focus multibeam systems showed the presence of new north-south striking fissures, normal faults and a new pit crater located at the site of a former 300-meter high volcanic cone. Comparisons between the pre-1996 SeaBeam data and the new bathymetry show a net loss of about 100 million cubic meters of rock volume on the summit. This loss is localized at a new pit crater -- the 300-meter deep by 1,300-meter wide Pele's Pit. Submersible observations with Pisces V show the northern edge of Pele's Pit to be bounded by a normal fault located north of the site of the former Pele's Vents cone that has disappeared into the new pit crater. A new hydrothermal field, the Ikaika Vents, extending from a water depth of 1,311 meters to 1,287 meters has formed at the northeastern edge of the floor of Pele's Pit. Submersible observations of these new Ikaika Vents during September 1996 showed vigorous venting at the site with extensive white-colored bacterial mats hanging off the rock face above the vents. Follow-up mapping and sampling of the vent sites during August 1997 showed vent temperatures of up to 198°C, dense populations of vent shrimps around the vents and a centimeters-thick veneer of fine-grained polymetallic sulfide mineralization along the rock walls above individual vents. The mineralogy of the sulfides shows a barite, chalcopyrite, sphalerite, and pyrite composition.

Jan 1, 1998

By Robert H. Leach, C. H. Chatfield

This paper gives a brief summary of the process of manufacture of sterling silver, and some of its more important physical properties, as observed in conlmercial production of rolled sheet and wire. Although papers have been published by Turner and Smith,1 Rose,2 Sperry3 and Jordaq4 there are few technical data available, and unfortunately the time allowed for the preparation of this paper has not been sufficient to make it as comprehensive as the title might indicate. Analysis of Steeling Silver Fine or pure silver is too soft for coinage and the manufacture of articles in which strength and resistance to wear are desired. From the earliest times of which we have record, copper has been the metal generally used to harden silver. Analyses of coins and silver articles from ancient tombs show varying amounts of copper, and old Roman silver objects in the British Museum have approximately the same ana,lysis as our sterling. The first authentic record of the establishment of a standard alloy is during the reign of Henry I1 in England. During the twelfth and thirteenth centuries, the people in the Eastern Provinces of Germany had a reputation for the standard and purity of their silver coinage, and it is said that Henry II employed some of these Easterlings, as they were called, to improve and standardize the English coinage, which had become debased. The peculiar standard adopted is probably accounted for by the system of weights used. A troy pound contains

By C. H. Riggs

"INTRODUCTION The injection of gas into the McClosky limestone in the adjoining, Griffin and New Harmony field in Indiana and Illinois and resulting increases in oil and gas production from this zone ore described in this report.Since 1911, the use of compressed air or as to increase oil production by supplementing natural reservoir energy has been widely adopted, and has resulted in the recovery of much additional oil, which otherwise would have been left underground. In many of the newer oil fields, including Griffin and New Harmony, a part of the compressed residue gas from natural gasoline plants is returned to the reservoir as a secondary method to increase oil and gasoline production. Part of the injected gas is stored underground for future use.By presenting data on many secondary recovery operations in a series of reports 5-9/ the Bureau of Mines has sought to stimulate interest in secondary recovery as a means of increasing oil recovery and current oil production for wartime needs. Most of the elder fields in the United States produce oil from sandstone reservoirs, and probably more than 90 percent of secondary recovery operations have been developed in oil bearing sandstones. During recent years, the volume of oil obtained by primary methods from limestone reservoirs has increased steadily, but as yet little has been done to recover, by secondary means,,the large volumes of oil left in limestone reservoirs when primary methods production are no longer profitable. Because of inherent differences in the origin and nature of the pore spaces between sandstones and limestones and because of differences in permeability and fluid content, secondary recovery methods, which are successful in sandstone-reservoirs, are not always applicable to limestones. Not much he been written concerning secondary recovery operations in limestone reservoirs, and few data are available to assist operators in developing such secondary recovery projects."

Jul 1, 1945

By J. P. Sancho, J. M. Duart, J. I. Verdeja, J. O. García

Following a short review of the history of rails used in the transport of passengers and goods, this paper describes the process for rail fabrication, rail structure, and properties, and summarizes the fatigue test curves carried out on rails used today. Also reported is the process for “continuous rail” production using aluminothermic welding via the introduction of weld metal in onsite casting, as a homogeneous melt. Weld characteristics of aluminothermic welding using different preheating procedures—fusion zone, heat-affected zone, microstructure, hardness, slow bend test, and fatigue test resistance (Wöhler curves)—are related to preheating and welding procedures of 700, 900, and 1,100 MPA rail grades. The Locati method is preferred over the staircase method for ascertaining the fatigue limit due to its simplicity. Macrographic and metallographic inspection of broken specimens reveals the reliability of welding techniques and the good metallurgical quality of welds.

Jan 1, 2007

By B. H. Clemmons, B. G. Saunders, R. H. Stacy

"INTRODUCTION This investigation was undertaken to determine the response of Birmingham (Alabama) red-iron ore to heavy-medium concentration. Specifically, the work involved a study of the efficiency of the process in separating coarse gangue diluents from the ore and an endeavor to evaluate the potential economic results. The investigative work was not intended, nor is it to be construed, to be adequately exhaustive in scope to enable immediate plant construction. Rather, the primary objective was to determine the grade of ore that could be produced by heavy-medium treatment and the resulting indicative or tentative benefits to be derived from such treatment. The latter, in turn, would determine the merits of the more exhaustive study that would be required for an ultimate decision on the heavy-medium treatment of the ores.The problem of avoiding excessive contamination of red-iron ores by shale and/or ferruginous sandstone has been before the operators of the iron mining industry of the Birmingham, Alabama, district for many years. Within the last two decades, increased mechanization of mining methods has increased this contamination to a considerable degree. In fact, general utilization of scraper loading and other mechanical methods of mining, in conjunction with small increases in the natural insoluble content of the ores, in some cases has actually resulted in the production of ""acid"" or excessively insoluble ore, where ""basic"" or excessively lime ores were produced formerly.The contaminating materials are derived largely from roof spells and natural parting seams in the ore, a condition that to some extent has been aggravated by the irregularity of the ore beds. The latter have been subjected to both primary and secondary folding in many places. Considerable faulting has taken place, also. In many localities these conditions render virtually impossible complete avoidance of ore contamination from the over and underlying sandstones and shales. However, in a few localities, where the ore beds are less disturbed and shale partings are absent, mining can and is being accomplished with relatively little dilution."

May 1, 1948

By Claude Deveau

"With ever decreasing feed grades, finer mineralogy and increased demand for product, it became obvious that a major step in equipment performance was required to reduce operating costs and increase production. Offsite testwork indicated that a Centrifugal separator was capable of recovering fine tantalum and that the newly developed C Series Falcon concentrator would be capable of replacing many pieces of aging equipment and provide improved performance. Further investigation led to the rental and the purchase of a Falcon C20 concentrator followed by a C10 to maximize circuit performance.Falcon Concentrators Inc’ s practice of working with the customer mirrors Tantalum Mining Corporation of Canada’s (Tanco) philosophy of continuous product development. This synergy honed valve design for continuous operation in a highly abrasive ore environment.Tanco has recently purchased two more Falcon concentrators for the recovery of additional tantalum from its spodumene circuit. These new units have additional user friendly operating features partially based on developments made at Tanco.The Falcon C Series units have enabled Tanco to maximize recovery of tantalum that was otherwise lost while using the original conventional gravity circuit."

Jan 1, 2000

By T. Braun, J. Parker

On June 25, 1999, BHP Billiton (BHPB) announced the suspension of operations at the BHP Copper Inc.(BHP) San Manuel copper mine in Pinal County, Arizona. Subsequent to this announcement, BHPB aggressively pursued a number of alternatives for the underground mine and open pit facilities, including continued curtailed operations, sale to a qualified mining operator and closure of the property. After consideration of these various alternatives over a 2.5-year period, BHPB announced final closure of the mine site on January 15, 2002.This paper describes how the BHPB charter and HSEC policy apply during the closure process.

Jan 1, 2004

By Tassos Grammatikopoulos, Gary Pearse, Massoud Aghamirian, Charlotte Forstner, Stephen Mackie

"SGS Minerals Services (Lakefield, Ontario site) has conducted a number of developmental and pilot programs that examined methods for the beneficiation, extraction and recovery of lithium from a variety of spodumene containing hard rock sources. An overview of the beneficiation programs is presented separately by Aghamirian, Mohns, Grammatikopoulos, Imeson & Pearse (2011). The focus of this discussion will be the hydrometallurgical steps involved in producing a high grade lithium carbonate (Li2CO3) sample from the spodumene concentrate. SGS has applied the standard Li2CO3 hydrometallurgical flow sheet to a number of spodumene concentrates and has determined that all of these samples respond in a similar manner to the process and produce a final product having a Li2CO3 grade of >99.5%. The standard process is sufficiently robust to accommodate the observed variability in the concentrates that have been tested. Advantage of one spodumene deposit over another will thus be gained through process optimization and innovation. Optimization at the beneficiation stage and at the hydrometallurgical stage must be considered. Some aspects of the process optimization of the hydrometallurgical flow sheet will be presented.INTRODUCTION The current activity in the exploration, development, and mining of lithium based minerals is due in large part to the key role that this metal plays in the rechargeable battery industry (U.S. Geological Survey, 2011). Lithium battery technologies are widely applied in a range of portable electronic consumer products. The expanding development and production of hybrid and fully electric vehicles has contributed to the increased interest in finding and developing new lithium sources in order to meet the expected demand from the lithium battery industry. Lithium may be sourced from continental brines (sub-surface salars), hard rock minerals (pegmatite, spodumene), hectorite clay deposits, geothermal brines and oilfield brines. Currently the majority of the lithium products are produced from Li brines. The four major lithium producing countries are Chile, Australia, China, and Argentina (U.S. Geological Survey, 2009; Roskill, 2009). These countries accounted for 97.6% of the total lithium produced in 2010."

Jan 1, 2012

By J. D. Steenkamp

"In July of 2016 and June 2017, major tap-hole repairs were carried out during the annual shutdown of two 63 MVA submerged arc furnaces producing ferrochromium in South Africa. The hot excavations of the tap-holes allowed for a study of the wear profiles. Subsequent thermodynamic calculations allowed for the quantification of the potential for chemical reaction between refractory and slag or alloy contributing to wear in the tap-hole area. Results from both wear profiling and thermodynamic calculations are reported here. IntroductionFerrochrome (FeCr) is an essential alloy in the production of stainless steel (Gasik, 2013). In 2017, 11.7 Mt of FeCr was produced (Pariser et al., 2018.). The main producers were China (39%), South Africa (29%), Kazakstan (12%), and India (8%).A number of grades of FeCr are available to producers of stainless steel, including high-carbon ferrochrome (HCFeCr) (Gasik, 2013). HCFeCr typically contains 60–70% Cr and 4–6% C (Basson and Daavittila, 2013). When the chromium content is lower (50–55% Cr) and the carbon content higher (6–8% C), it is referred to as charge chrome. Charge chrome is typically produced in South Africa due to the grades of ore available.FeCr is produced in submerged arc furnaces (SAFs) and in open arc furnaces (Mc Dougall, 2013) by carbothermic reduction of oxide raw materials. In a SAF the electrode tips are submerged in a porous charge mix. In FeCr production, the electrical energy is mainly liberated by resistive heating of the wet coke bed (Barker et al., 2007; Steenkamp et al., 2017). Thermally conductive lining design philosophies are typically applied in SAFs producing FeCr (Steenkamp, Denton, and Hayman, 2017; Coetzee, Duncanson, and Sylven, 2010; Coetzee et al., 2010).In July of 2016 and June of 2017, major tap-hole repairs were carried out during the annual shutdown of two 63 MVA SAFs producing FeCr in South Africa. The hot excavations of the tap-holes allowed for a study of the wear profiles. Both SAFs were operated on the same site, by two different operating crews, using the same raw materials. The major difference between them was that the SAF excavated in 2016 was an open SAF (referred to as Furnace A) and the one excavated in 2017 was a closed SAF (referred to as Furnace B). In an open SAF, a gap exists between the top of the steel shell and the roof, with the top of the burden being open to the atmosphere and the CO-rich off-gas being combusted as it escapes. In a closed SAF, the roof is attached to the steel shell and the CO-rich off-gas is collected from an offtake on the roof for further treatment and used in downstream processes.The paper presented here reports the macro-scale observations on refractory wear for the two SAFs, and studies the potential for chemical wear of refractory by slag and alloy as a potential contributing factor to the tap-hole wear observed."

Jun 1, 2019

By H. B. Humphrey

WHEN THE BUREAU OF MINES was created in 1910, the organic act had as one of its main provisions the following: That it shall be the province of said bureau and its director, under the direction of the Secretary of the Interior, to make diligent investigation of the methods of mining, especially in relation to the safely of miners and the appliances best adapted to prevent accidents, the possible improvement of renditions under which mining operations are carried on, the treatment of ores and other mineral substances, the use of explosives and electricity, the prevention of accidents, and other inquiries and technologic investigations pertinent to said industries, and from tinge to time make such public reports of the work, investigations, and information obtained as the Secretary of said department may direct, with the recommendations of such bureau. The nationwide nature of the health and safety work of the Bureau of Mines has given its representatives an opportunity to study and report on matters pertaining to health and safety in mines and related operations from the time the Bureau was established to the present. Regular annual reports and numerous additional papers and reports have been published each year to place on record and to make available the information gathered. While the basic purpose of this bulletin is to describe health and safety reports for the period January 1947 through June 1955, a selected number of earlier publica¬tions that are believed pertinent for reference purposes are included.

Jan 1, 1956

By George S. Rice

"The emission of hydrocarbon gases from coal beds and contiguous strata causes many accidents in coal—mine workings, the number of fatalities so caused being second only to those due to falls of roof. Gases tend to increase in amount with depth of coal mining, hence the danger of explosion is increased with depth. The pressure of the gas in virgin—coal areas at a distance from mine workings likewise tends to increase with depth from the surface, probably due to corresponding increase in hydraulic head and possibly, when the gas is held in nonporous formations, to greater ground pressure. The rise in gas pressure with depth under usual conditions is shown in wells drilled from the surface and in some coal fields in drill holes into the face of workings; however, under normal conditions of coal formation gas does not issue into workings under high pressure because the coal and adjacent strata have many bedding and joint planes which allow the gas to escape freely at the face of the workings. The rare occurrence of instantaneous outbursts of gas, with violent effects referred to later, constitute the exception.Variations of volume and pressure of fire-damp or methane found in different coal beds by wells at a distance from mine workings, are analogous to variations in volume and pressure of natural gas found in different gas and oil sands, although in general the pressure tends to increase with the depth. Sometimes, however, in tight sands higher in the formation the pressure of gas therein is abnormally high, and on drilling the well deeper gas in the lower strata may be found at lower pressure."

Jun 1, 1934

By Mark K. Larson

A constitutive model for rock interfaces based on the principles of static fatigue is proposed. The model is applicable to weak rock or joints with cohesion. Friction and dilation are decreased as plastic work increases. At equilibrium, the creep time increases by one time-step interval, and interface cohesion at each node decreases according to a power function. A constant-load, direct-shear simulation showed that the model is cap- able of mimicking constant-rate and tertiary creep and predicting failure. Tests on core from a coal mine showed constant-rate and, sometimes, tertiary creep, but also weak transitory creep. The cohesion deterioration function may need modification to simulate primary-phase creep. If model parameters are known for a site, the model can predict the onset of tertiary creep and failure. Such predictions can help engineers make better entry design and support decisions, which will reduce the likelihood of roof falls and increase safety for underground miners.

By M. Tominaga

An industrial port complex was constructed on the west coast of Leyte Island The work was started in December 1981 and completed in May 1984. This port complex includes a 665 m long wharf and can accommodate vessels ranging from a 60,000 DWT ore carrier to a 4 000 DWT general cargo ship. It now handles materials for and products from a copper smelter with an annual capacity of 130,000 t and a fertilizer plant with an annual capacity of 900,000 t. The Wharf structures consist mainly of interlocked steel pipe piles, steel sheet piles and steel pipe Piles. Material handling equipment such as unloaders, shiploaders, etc. were installed on the wharf. Site survey, planning, engineering design and construction aspects of the port development are discussed in this paper with particular emphasis on the wharf structure.

Jan 1, 2010

By R. F. Favreau, Patrice Favreau

"A blast with explosives creates vibration waves in the zone around the blast.The prediction of the intensity of vibrations is important because people in the cinity demand that the vibrations do not disturb them, and society imposes limits on the vibrations. The U. S. Bureau of Mines (USBM) showed that the easurement of the particle velocity U predicts the risk of damage from vibrations. A currentapproach of blasters to monitor vibrations is to measure them with a seismograph at several distances S, and create a graph of U vs. S and the explosive charge “W” according to the equation U = K / (S / W)N where K and N are constants that depend on the blast method and the nature of the ground over the distance S. Though useful, this equation is empirical, and the results predicted from it are very variable, as shown by figure 1 which indicates that a prediction of U can deviate significantly from the actual value. Moreover, a minimum of two seismograph measurements at two values of S are required to establish the curve. However, here now exists another very convenient method to predict U; it is with the simulator Vibmas, which is based on the fundamental principles of how a blast reates vibrations. This simulator takes into account not only W but rather all the blast parameters, the type of explosive and the properties of the rock. Moreover, to establish the calculation of U as a function of S, only one seismograph measurement is required rather than two as for the USBM method. This last difference is important because it makes it easy to predict U not only as a function of S, but also as a function of the orientation of S. On the site this allows much safer control of the vibrations, and the use of larger explosive charges which reduce excavation costs. The article presents results from a field case at a hydroelectric project in Canada, where the deviation was very moderate. Use of this vibration simulator on the Web is very easy."

Jan 1, 2015

By John K. Gustafson

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

Jan 1, 1972