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By R. W. Smith

Living and killed organisms, particularly microorganisms, and extracellular products derived from the organisms are increasingly finding use in minerals engineering. Goals include both enhancement of mineral processing/11.ydrometallurgica,l operations and remediation of mineral industry wastes. Some of the applications, such as biologically assisted leaching of ?sulfide ores and bioxidation of refractory gold ores, are well established commercial ?processes used around the world. Others, such as the use. of organisms for the removal of heavy metal ions from dilute aqueous streams, are nearing commercial application. Many other uses of microorganisms and. their derivatives are potentially possible. These include use of microorganisms in flocculation or flotation of minerals., remediation of organics potentially discharged from mineral engineering operations, degradation of cyanide, the recovery of bitumen from heavy oil reservoirs and tar sands and the solubilisation of lignites and low rank coals. In order to fully exploit these many possible uses of organisms and their derivatives, extensive fundamental .and .applied research work exploring the fundamentals, potential and practicality of the various possible uses of microorganisms in mineral engineering should be vigorously pursued. ?

Jan 1, 1991

The Bureau of Mines, through its Minerals Availability Program (MAP), investigates the mineral supply potential of the United States and market economy countries (MEC's) for a number of minerals considered essential to the U.S. industrial base. Major activities include identification of important mines and mineral deposits, estimation of their mineral resources and production costs, and availability and sensitivity analyses. Products include data print-outs of geological and engineering information, discounted- cash-flow rate of return (DCFROR) analyses of individual mining operations, commodity availability appraisals, and analytic services to Government agencies. These products are used in assessing the mineral supply position of the United States: in setting priorities for research aimed at reducing production costs and minimizing adverse environ- mental impacts and regulatory compliance costs of mining and mineral processing operations; and in formulating and evaluating Government policies that affect minerals. Bureau MAP data and analyses have been provided to the executive and legislative branches to aid in consideration of trade, tax, and stockpile policy issues. A study of the economic potential of selected seabed mineral resources supports the regulatory responsibilities of the Department of the Interior in the U.S. Exclusive Economic Zone. Analytic studies of mineral project viability, industry competitiveness, and import dependencies were also undertaken for, or in cooperation with, U.S. and foreign government agencies, industry and trade organizations, and international lending institutions.

Jan 1, 1987

By J. S. UNGER

A LARGE proportion of the coke used is made in the by-product oven from the high-volatile coals mined in the adjacent district. At the beginning it was feared good by-product blast-furnace coke could not be made with our coals. By experimenting with various mixtures of coals, coking time, oven design, and coking temperatures, much has already been accomplished. The results show that a hard, dense coke, not easily broken by handling, can be produced. In its present state it is not all that could be desired, but it is being constantly improved. Such coke has been used alone as the fuel on several of the blast furnaces producing the highest daily production in the Pittsburgh district. Many of the coals in the Pittsburgh district when coked in the by-product oven yield a gas which contains a high percentage of sulfur, which is objection- able for many metallurgical operations. As this fuel is gradually replacing the ideal fuel, natural gas, which is becoming less plentiful, studies are being made of the best methods for purification. Some metallurgists believe sulfur to be a very injurious element in steel. Recent investigations by Government bureaus, scientific bodies and private firms, seem to indicate that a reasonable amount of sulfur may exist in steel without detriment. Without wishing to provoke any metallurgical controversy on the subject of sulfur, the fact remains that the daily purification

Jan 1, 1926

By C. Dirscherl

"Declining ore grade, leading to increased material transport and plant throughput requirements, is one of the major challenges in the current mining environment. This is accompanied by rising energy and labor costs, decreasing plant productivity and the requirement for highest plant availability. Siemens’ answer is the latest gearless drive technology for grinding and conveying. Gearless drive solutions are surpassing the mechanical limits of conventional drive systems serving to utilize the principle of economies of scale. By elimination of various components of the drive train the maintenance activities and spare parts inventories are reduced. The advantages are culminating in the incomparable availability of the Siemens’ gearless drive technology of 99.46 to 99.71% - as confirmed by real operational data from the Antapaccay mine in Peru. It was the first plant worldwide to use gearless drives for both applications. KEYWORDS: Gearless Mill Drives, Gearless Conveyor Drives, Availability, SAG Mill, Ball Mill, Overland Conveyor, Antapaccay INTRODUCTION – THE GEARLESS PRINCIPLE The principle idea behind a gearless drive system is to reduce the number of components and diversity of parts. Especially those components that are at the edge of current manufacturing or power limits are eliminated. The used equipment provides the possibility to scale up and increase the power transmitted to the driven machine. This finally results in a possible increase of throughput respectively transported or processed material. In order to apply this principle of simplification we will take a look at the components of a conventional drive system consisting of: - Driven equipment (mill, conveyor, slurry pump…) - Components altering the rated speed (gearboxes, girth gear / pinion) - The electric motor - Starting devices for the motor (VSD, CCV, LRS, clutch…), which are necessary because a direct across-the-line start of high power motors with load would result in a significant drop in the line supply voltage - Alternatively a variable speed drive (VSD) or cycloconverter (CCV) to utilize the possibility of speed variation during operation - The electrical supply system (cables, switchgear, transformers, protection equipment) Intermediate gearboxes are not required when a motor is used with a rated speed that directly matches the speed requirement of the driven equipment. Furthermore the VSD can be used to smoothly start the motor and to vary speed during operation, which means that it satisfies both requirements."

Jan 1, 2015

In the last 40 years, New Zealand has developed a number of liquid- dominated geothermal steam fields, for electricity generation and indus- trial process steam. New technologies were developed, and in this work, New Zealand led the world. The policy of full publication of the results, in a wide range of sciences, provided a reservoir of detailed data defin- ing the geology, size and shape, and the chemical and physical regime, of many geothermal fields and their constituent parts. The discovery of precious and base metal deposits /precipitates in geothermal drill cores and steamfield equipment, suggested a clear link- age with epithermal mineral fields in general, and with that of the Coromandel (Hauraki) Region in particular. Further work on geothermal/ epithermal relationships have implied that the techniques, developed to obtain an understanding of geothermal fields, could be applied also to epithermal mineral exploration. This work is developing fast, and is now proceeding in many coun- tries. Future work may show that the presumed relationship between geothermal and epithermal deposits may be applicable in the wider con- texts of all hydrothermal deposits, and possibly in many other minera- lised areas with volcanic "country rocks".

Jan 1, 1988

By AIME AIME

EVERETTE LEE DEGOLYER, past President of the Institute and Anthony F. Lucas Medalist, was presented with the John Fritz Medal at a dinner at the Wal-dorf-Astoria Hotel in New York, Jan. 14. Dr. DeGolyer is the third representative of the Institute in recent years to receive the John Fritz Medal which is awarded jointly by the four Founder Engineering Societies through a board composed of sixteen past presidents. In 1938 Paul D. Merica was given the award "for important contributions to the development of alloys for industrial uses" and in 1933 the distinction was given to D. C. Jackling "for notable industrial achievement in initiating mass production of copper from low-grade ores through application of engineering principles."

Jan 1, 1942

By Sri Sawmliana, P. Pal Roy

Blasting Gallery (BG) method was introduced in India for higher production and low cost of excavation to substitute conventional hand section and stowing methods for thick coal seam. The Singareni Collieries Company Ltd. (SCCL) adopted this method in the year 1989 and since then successfully operating at GDK-10, GDK-8 & VK-7 Incline mines in Andra Pradesh, a southern state of India. It is also successful at Chora 10 Pit Colliery of Eastern Coalfields Ltd. (ECL) in West Bengal whereas at East Katras Colliery of Bharat Coking Coal Ltd. (BCCL) in Jharkhand State, the method has been partially successful due to some geological constraints of the area.

Jan 1, 2003

By E. G. Noble

The effects of hydrogen chloride (HCI) concentration and temperature on the solubility and hydration state of the alkali chlorides LiCI, NaCI, and KCI and the alkaline-earth chlorides, MgCI2, and CaCl2 were investigated by the Bureau of Mines. Saturated aqueous solutions of the chlorides were sparged with HCI gas at temperatures of 20°, 40°, and 60° C. Increased HCI concentration caused decreased salt solubility be-cause of the common ion effect. Aqueous solubilities for the chlorides of Ca, Li, Mg, K, and Na ranged from 42.6, 45.2, 35.2, 25.5, and 26.1 pct, respectively, at 20° C to 56.9, 49.4, 37.6, 31.0, and 27.0 pct, re-spectively, at 60° C. In solutions sparged to HCI saturation, solubili-ties for these chlorides ranged from 22.4, 26.5, 3.0, 1.3, and 0.05 pct, respectively, at 20° C to 53.2, 48.8, 28.3, 2.6, and 0.8 pct, respec-tively, at 60° C. The solubilities of LiCI and CaCl2 in HCI solution were high because HCI solubility is low in these solutions. The chlo-ride salts of Ca, Li, and Mg formed hydrates, which depended on tempera-ture and HCI concentration. Monohydrates for LiCI, tetrahydrates and hexahydrates for MgCI2, and dihydrates, tetrahydrates, and hexahydrates for CaCl2 were obtained.

Jan 1, 1985

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page 1 Wilkes-Barre, Pa May, 1871 1 3 2 Bethlehem, Pa August, 1871 1 10 3 Troy, N Y November, 1871 1 13 4 Philadelphia, Pa February, 1872 1 17 5 New York, N Y May, 1872 1 20 6 Pittsburg, Pa October, 1872 1 25 7 Boston, Mass February, 1873 1 28 8 Philadelphia, Pa May, 1873 2 3 9 Easton, Pa October, 1873 2 7 10 New York, N Y February, 1874 211 11 St Louis, Mo May, 1874 3 3 12 Hazleton, Pa October, 1874 3 8 13 New Haven, Conn February, 1875 3 15 14 Dover, N J May, 1875 4 3 15 Cleveland, 0 October, 1875 4 9 16 Washington, D C February, 1876 4 18 17 Philadelphia, Pat June, 1876, 5 3 18 Philadelphia, Pa October, 1876 5 9 19 New York, N Y February, 1877 5 27 20 Wilkes-Barre, Pa May, 1877 6 3 21 Amenia, N Y October, 1877 6 10

Jan 1, 1917

By D. A. Rhys, M. Sieb, M. A. Prefontaine, C. L. Swanson, S. R. Frostad, H. Q. Smit

"Gold-silver mineralization at Red Mountain (1992 resource of 2.5 million tonnes grading 12.8 g/t Au and 38.1 g/t Ag) occurs within several discrete zones within a folded sequence of Middle to Late Triassic Triassic sedimentary rocks, Early Jurassic volcaniclastic and pyroclastic rocks, and Early Jurassic intrusions. Three phases of Early Jurassic sills and stocks collectively comprise the Golds/ide intrusions: (1) irregular bodies of medium-grained hornblende monzodiorite (Hillside porphyry); (2) hornblende-biotite + quartz porphyritic monzodiorite to quartz monzodiorite (Golds/ide porphyry; U-Pb zircon ages of 197.1 + 1.9 Ma); and (3) biotite porphyritic hornblende monzodiorite sills (Biotite porphyry). Contact breccias and igneous breccia dikes are common features of the Golds/ide intrusions. Chemical similarities and equivalent ages of volcanic rocks and intrusions, and the presence of intrusive clasts in volcanic rocks suggest that the intrusions are feeders to overlying volcanic units.Hydrothermal alteration affects all pre-Tertiary rocks on Red Mountain, including all phases of the Golds/ide intrusions. Several shallow-dipping alteration zones are developed sequentially above a propylitic quartz stockwork/molybdenum zone. These include: (1) sericite-quartz-pyrite alteration (pyrite-dominant alteration); (2) chlorite-K-feldspar-sericite-titanite alteration with disseminated and vein pyrrhotite (pyrrhotite-dominant alteration); and (3) brown to black tourmaline veins and K-feldspar-pyrite-titanite-actinolite alteration. Anomalous gold(> 0.3 g/t) mineralization is developed at the transition from the pyrite to the pyrrhotite dominant alteration over a > 1 km2 area. Within this anomalous zone, high-grade (3 g/t to 20 g/t Au) gold-silver mineralization occurs in 5 m to 29 m thick, semi-tabular pyrite + pyrrhotite stockworks with intense sericitic alteration and surrounding disseminated sphalerite + pyrrhotite.Stratigraphic, spatial and geochronologic relations and alteration zoning indicate that mineralization formed in a subvolcanic environment at the top of the Golds/ide intrusions and at the base of the Early Jurassic volcanic pile. The Golds/ide porphyry is interpreted to be the mineralizing intrusion. The alteration zoning, molybdenum-copper mineralized quartz stockworks, extensive Ksilicate and tourmaline alteration, and the relationship with a hypabyssal porphyritic intrusion show similarities to many porphyry systems."

Jan 1, 1995

By Robert McClure, Frederic Leclercq, Ricardo Chavez

With significant vibration control and fragmentation challenges facing them, the CBS quarry (department of the Nord) successfully integrated a technical partner and mine to mill optimisation to deal with a difficult environment. For the last three years, CBS has been conducting a global production monitoring program similar to the mine to mill concept used in the mining industry. This concept consists of optimising the drilling and blasting while monitoring the effects on the downstream chain (vibration control, loading, hauling, crushing, plant output). Blast optimization is ensured by systematic control of the blast geometry (volumes, patterns, bench and face anomalies, drill deviation) and by the use of constant specific energy blasting. Constant specific energy optimises the work of the explosive in a blasting operation and, when combined with a high accuracy programmable electronic blasting system, reduces the impact of blasting on the environment and enhances blast performance. These techniques ensure consistent blasting results and hence improved site productivity. The improvements achieved have been identified thanks to an effective system designed to monitor the key production parameters.

Jan 1, 2007

By Chuck Edwards

"Cameco operates the high-grade McArthur River uranium mine in northern Saskatchewan, and is constructing the high-grade Cigar Lake uranium mine. Cameco has studied the concept of underground milling of high-grade uranium ore. Compared to conventional milling on surface, the underground milling scheme appears to offer significant cost savings and a lower environmental impact. This paper describes the underground milling scheme, presents process flowsheets and plant layouts, and provides an assessment of potential benefits from underground milling.INTRODUCTIONCameco CorporationCameco is the world’s largest uranium producer, with three operations in Saskatchewan (Rabbit Lake mine/mill, McArthur River mine, and Key Lake mill), two in the United States (Crow Butte and Smith/Highland ISL operations) and two new mines being developed in Canada (Cigar Lake project) and Kazakhstan (Inkai project). Cameco provides uranium fuel refining and conversion services at its Blind River and Port Hope facilities in Ontario. Cameco is part owner (31.6%) of Bruce Power that leases eight nuclear power plants located in southern Ontario. Cameco is the majority shareholder in Centerra Gold Inc., which operates gold mines in the Kyrgyz Republic and in Mongolia.Global Uranium Production RequirementsCentral to Cameco’s view of future uranium supply requirements is the belief that the world is experiencing a nuclear renaissance. This belief is supported by a number of developments, including:•,?Countries representing half the world’s population are now constructing new nuclear power plants. Many countries without nuclear power have begun to plan for it, seeking reliability, clean air and energy independence.•,?Accelerated growth for this industry is also becoming much more likely. In Asia, primarily in China and India, 92 reactors are under construction, on order or planned to help meet rapidly expanding economic needs. Other Asian countries, such as Vietnam and Indonesia, with large populations and rapidly growing economies, are also expected to follow.•,?In the United States the “Energy Policy Act of 2005”, the first energy legislation introduced in over a decade, was signed. This legislation includes provisions recognizing, for the first time at a national level, the clean air contribution of nuclear energy and its critical role in meeting energy security. Upon signing this landmark legislation President Bush stated, “We will start building nuclear power plants by the end of this decade.”"

Jan 1, 2007

By C. Patrick

Longwall face-to-face transfers can cost over $100 per minute in lost production potential and $100,000 for personnel and supplies. Such high cost makes extensive planning and control of the transfer process a critical necessity for the economic feasibility of longwall operations. This paper reports operations research techniques used for the analysis and modeling of longwall face-to-face transfers. Transfer data has been collected from companies who operate over 30% of the total U.S. longwall faces. Comprehensive sequence networks of existing longwall transfers were developed; simulation models of transfers under varying conditions were generated; and, the economics of general transfers and time-cost tradeoffs in the transfer procedure were investigated.

Jan 1, 1993

By L. D. Schmidt, W. C. Schroeder, A. C. Fieldner

"INTRODUCTION The highly mechanized character of modern warfare makes steel the most vital raw material. The shortage of steel scrap in the United States is forcing the use of increased quantities of pig iron in steel manufacture, so that the rate of pig-iron output will continue to be the controlling factor in steel production. 5/ At the same time, the construction of new blast furnaces is limited both by time and the amount of strategic material available. Under such circumstances, every effort must be made to attain and then maintain maximum pig-iron output from the equipment now in use.When forcing a blast furnace to the ultimate in production the highest standards for quality and uniformity of the coke must be maintained. In view of these facts, the Bureau of Mines, in cooperation with the Office of the Solid Fuels Coordinator for War, is surveying the coke industry to study the various steps in producing coke of higher quality and greater uniformity. 6/ The engineers conducting the survey are visiting key men in coke-oven and blast-furnace organizations to determine, first, the major and most common problems in coke production and use; and, second, the best and quickest method for solving them. Various operators have made good progress in solving individual problems, and a Nation-wide exchange of information among them will make possible widespread adoption of the best practices. It is the purpose, of the survey and reports such as this preliminary one to facilitate such exchange of information. As an outgrowth of the survey, it was soon revealed that many operators could be helped by cooperation with various Government agencies, particularly to procure suitable coals, minor additions to equipment facilities, and tests on certain properties of coal or coke, or specific advice concerning the operation of various types of equipment. The machinery and organization necessary for securing this cooperation have been set up as a part of this work."

May 1, 1943

By A. Eltringham

Operations downstream of mining and beneficiation are still being subjected to increasing scrutiny as highly capitalized projects have been either slow to achieve their targets or have actually failed to do so. Leaching and smelting projects have fundamentally high calls on capital and technology as reaction rates are increased and the capture and disposal of unwanted products are subjected to greater restrictions. Separating value from waste inherently becomes riskier as the purification of the desired product imposes greater demands on the process to produce benign wastes. When we superimpose on the chemistry of the project severe predictions of throughput rates, that bring in facets of manufacturing, we are introducing complexities that the records show are not handled well. This paper discusses some of the more common challenges that operators face and what methods are available and are likely to be successful in preventing the loss of value as projects are brought on-stream. This thinking needs to start much earlier and at greater intensity than our industry has normally chosen to employ.

Jan 1, 2011

By George A. Mealey

Caving mining methods that are based on a planned caving of rock above and/or at times surrounding the material being mined can be classified in three broad categories: longwall mining, sublevel caving, and block caving. Each of the three methods involves a distinct technology as well as art of operation. Each requires a relatively large, regular, and predictable ore body. As a rule, the effect of mining results in some form of impact or change on the surface. Operationally, underground caving methods are characterized by high productivity as well as a high percentage of extraction of the mineral being mined. A key element for the productivity of this form of mining is the ability to standardize the various elements of work taking place underground. Therefore, work-men may perform a specialized role rather than function as all-around miners. Further, the nature of the mining methods lend them to a high level of mechanization. Operations and manpower can be centralized into a relatively small area where supervision can be concentrated and therefore be more effective. Productivity as well as safety benefits thereby. The caving method is unique in that the exploitation openings are deliberately destroyed by the process of mining. Rock mechanics principles focus on the ensurance and the propagation of the cave as well as the continuance of the mine openings designed to extract the broken ore. As a rule, production operations are designed to maintain a steady, continuous flow of ore from the extraction areas. This steady flow rather than an intermittent flow tends to promote good caving action as well as reduce hangups.

Jan 1, 2008

By Edward P. Barrett

SPONGE IRON has been defined as the metallic product formed by the reduction (removal of combined oxygen) of iron ore or other iron oxides at temperatures below the fusion point of iron. This product probably derived the name "sponge iron" from its porous nature. When the reduction proceeds at slightly higher temperatures and the particles of metal weld together or finally even melt to yield pellets or balls that lack the porosity and low-density characteristic of sponge iron, the product might more correctly be called "direct iron."

Jan 1, 1954

By Lawrence Addicks

T HIS has been a most momentous year in the annals of the Institute. We have been in the midst of a situation which, were it not for the convulsions of social unrest with which life is surrounded on every side, would have attracted the attention of the world at large. I do not refer to the desperate campaign for new members. That has gone on much as usual except that, this being leap year, the annual proposal to the M. & M. Society has been omitted. Nor do I refer to the desperate situation which we found in other directions, the spread of Bolshevism, the burning of the Engineers' Club, the fact that the selling of copper appears to have become one of the lost arts. No, I speak of the great question which has to be. settled once and for all, as to whether this great Institute should adopt simplified spelling. The whole trouble started in the ranks of the California Hysterical Society. It appears, while most of the San Francisco members can read and write, several of them cannot spell. It also appears that the Secretary, in editing the Transactions, has perhaps made just a little bit too much of a point of employing the correct Stoughton idiom. At any rate, the rebels filed an amendment to the constitution, and the stage was set for civil war, with perhaps more stress on war than on civil.

Jan 1, 1920

By Mark R. Pettitt

The charter of this investigation was to identify and promote the application of noise control technology to future longwall mining machinery. Intensive noise and vibration data were acquired on a typical longwall shearing machine, and the highest noise levels were shown to radiate from the cutter drums. Shearing machine cutter drum noise control techniques that take advantage of the nature of the dynamic forces generated during coal cutting were developed. These include both structural redesign and force isolation techniques. A reduced noise cutter drum was developed that achieved a 5 to 6 dBA system noise reduction at the operator's position. Its operational performance was verified by a six-month long in-mine test. It was evident from the data that additional noise reduction could be achieved by treatment of the shearing machine hydraulics. Noise control of secondary sources was also investigated. A method of reducing full or empty stage conveyor noise (and continuous miner conveyor noise) by 5 to 10 dBA was demonstrated through isolation techniques. Underground mine durability testing, however, is yet to be demonstrated.

Jan 1, 1986

For the third successive year it appears that demand for platinum will exceed supplies of newly-mined metal, forecasts Johnson Matthey in its "Platinum 1987 Interim Review." Based on data available at the end of August 1987, Johnson Matthey estimates that western world demand for platinum could exceed 93t (3 million oz) for the first time ever in 1987. Given a likely increase in demand of 4.3t to around 94t (140,000 oz to around 3.02 million oz), up by about 5% over 1986, there would be a 1.8- to 2.2-t (60,000- to 70,000-oz) shortfall in 1987 supply. South African mines enjoying undisrupted production last year after strikes affected Impala's output in 1986. The rate of increases in western world supplies, though, has probably not kept pace with the growth in demand. A downturn in US demand for platinum was counterbalanced by substantially increased purchases from Japanese and Western European consumers of the metal. Total imports of platinum into Japan in 1987 may have reached a record level of 45t (1.45 million oz). The largest source of demand for platinum remains its use in autocatalysts US and Japanese auto manufacturers reduced their platinum purchases in the wake of falling car production. Therefore, a small decline in overall 1987 sales of perhaps 780 kt (25,000 oz) was expected in 1987. Western European demand, however, rose strongly as a result of increased output. The spread of exhaust emission control regulations has sharply boosted the number of cars equipped with three-way catalysts containing platinum and rhodium. Western European auto makers probably needed 5.6t (180,000 oz) of platinum last year, a 50% increase over 1986. The jewelry industry, the second largest user of platinum, increased its offtake of platinum in 1987. Japan, the key to the jewelry industry's consumption of platinum, could absorb 24.8 to 26.4 (800,000 to 850,000 oz) in 1987, compared with 23t (740,000 oz) in 1986. Platinum has wide and diverse applications in industry. Other major users are the chemical, glass, electronics and petroleum industries. They were expected to increase their aggregate demand by about 1.8t (60,000 oz), or 11% in 1987. Investment demand for small platinum bars and coins of up to 311g (10 oz) dropped back in relatively inhospitable conditions. This, after rapid increases in recent years and a surge in US demand in 1986. However, Japanese investors purchasing bars weighing 500g or 1 kg (16 to 32 oz), and considered more speculative, recovered last year. Over the first eight months of 1987, platinum performed strongly on the open market with average prices well up from 1986 in dollar terms. But the increase was less marked where measured in sterling or yen. Platinum ad¬vanced by $3.70/g ($115 per oz) between Jan. 1 and mid-September with the average price having been surpassed only in the heady days of 1980. Johnson Matthey believes that supply and demand appear likely to keep more or less in step on a gently rising path. The recent open market volatility will continue with prices fluctuating widely over short periods. Writing in mid-September, and basing its view on the tangible evidence of platinum's price fall since the review was written, the company's assessment of price prospects is unchanged. Demand for platinum remains strong all-round. In October, imports of platinum into Japan were exceptionally high. And in the US and Japan there was a marked resurgence of demand from private investors. Although market sentiment may have been influenced in part by the news of several potential new platinum mines in South Africa, the full effects of these prospects on supply, even if they were all to materialize, would not be felt before the early-mid 1990s, Johnson Matthey said. According to the review, no radical change in platinum supplies is discernible in the near-term. Incremental growth from South Africa can be expected as the major producers continue to make the most of their existing resources. The Soviet Union may be keener to sell than it appeared earlier in 1987, especially if prices hold up, but a substantial increase is improbable. Canadian supplies are not capable of much variation from present levels. The palladium-rich Stillwater mine will make a modest contribution. Referring to the investment market, Johnson Matthey concluded that despite this year's reduction in sales of small-denomination investment products, platinum does appear to have established itself with private investors. Bearing in mind how business multiplied in comparatively unfavorable conditions before 1986, it is reasonable to look for a resumption of growth once the climate improves.

Jan 2, 1988