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By R. E. Musgrove

At the present time Climax Uranium Company recovers vanadium oxide from carnotite type uranium ores in the mill at Grand Junction, Colorado, The flowsheet of this mill is shown in Figure I. Vanadium is solubilized by a salt roast of the slime fraction of the ore and dissolution is accomplished by a water leach. The metal is precipitated from the pregnant liquor as sodium polyvanadate by heating to boiling and adjusting the pH to 3 with sulfuric acid. The sodium polyvanadate, commonly called, "red caken, is filtered, melted, and cast into thin flakes. This fused flaked vanadium oxide is the material which is packaged for sale. Fused vanadium oxide, marketed by Climax, contains approximately 87% V205, 7% alkali oxide, 0.08% sulfur, 0.03% phosphorus, and less than 0.5% Insoluble. This material is of a lower grade and has a higher alkali oxide content than other vanadium products offered for sale at this time. A typical analysis of a high grade vanadium oxide currently offered for sale by another company is 98% V205, 1 - 2% alkali oxide, less than 0.05% sulfur and less than 0.2% Insoluble. The only reagent consumed in the precipitation of the sodium polyvanadate is sulphuric acid. The total reagent cost is 0.58 cents per pound of vanadium oxide produced.

Jan 1, 1958

By Joaquin Ruiz

Although Mexico is known for its important base-and precious-metal deposits, and lately oil, some industrial minerals play an important role in the Mexican economy. Sulfur, the most important industrial mineral produced, accounts for approximately 7.5 percent of the total value of mineral production. This commodity is followed by fluorspar, which accounts for 6.4 percent. Predominantly, the fluorspar deposits are very high grade (75 percent CaF) and are contained in lower Cretaceous limestone in the states of Coahuila and San Luis Potosi. Base-metal deposits in the area of Parral (notably San Francisco del Oro), however, have become important fluorite producers in their own right. (San Francisco del Oro has 12 percent fluorite gangue.) Salt from the Guerrero Negro solar-evaporation ponds in Baja California account for 6 percent of the total shares; phosphate from Baja California also accounts for 6 percent. Barite from man to deposits in Lower Cretaceous limestone in Coahuila and exhalative deposits in the Paleozoic section of Sonora account for 1.0 percent. In addition, Mexico is an important producer of gypsum, graphite, and celestite. Although graphite and celestite are not large-scale operations and thus do not contribute much to the Mexican economy, the Mexican graphite and celestite deposits are among the most important in the world; Mexico is one of the world's few sources of celestite. The celestite is in the form of large, high-grade mantos in Cretaceous limestones in northern Mexico.

Jan 1, 1987

By Thomas P. Meloy

Comminution is an old art. Unfortunately the analysis of the unit operations has been handicapped by the lack of both theoretical and experimental information. Two types of infor¬mation are needed, one an understanding of what happens when a particle breaks in a brittle manner; and two, an understanding of what happens when the daughter fragments pass through the mill. This paper is concerned with the former, the catastrophic fracture of a brittle solid. Recently, successful theoretical attacks on the frac¬ture of brittle solids have yielded significant-results. New experimental techniques are yielding insight into the physical phenomenon occurring during brittle fracture. Many of the re¬doubtable shiboliths of the last century are either being laid to rest or verified.

Jan 1, 1965

By William F. Riggs

The basic theme of this symposium and panel Is Rotation Pads: Are They Optimized? There Is a. reason for phrasing the title In the form of a question. There Is not only the technical competency which we must address; there Is the operating philosophy that must be evaluated on the part of both the customer and the supplier. Customers desire reagents which are trouble-free and capable of providing that extra amount of selectivity or recovery. When they receive ft, after the supplier has provided several years of Internal research, one of the first concerns/complaints Is the price of the product. This has a tendency to rapidly reduce a supplier's support level In the future. Suppliers are equally guilty from another perspective. When they approach a customer to Introduce a product, they often attempt to market by offering only a price Incentive. They then wonder why a customer doesn't respond Immediately to the incentive. They are often oblivious to the fact that the reagent cost is such a minor aspect of the operating budget, and the customer has many more pressing problems on a day-to-day basis In comparison to the reagent cost. We need to establish the understanding that reagent cost Is an Inconsequential cost of operation, and yet has such a disproportionately high Impact on the success of the entire operation. This understanding Is required by both the customer and the supplier. We say to each other,' why are we discussing this since this has been obvious for some time?' The reason is relatively simple in that we talk about it, acknowledge it, and yet we do not adhere to it. The supplier provides a product along with test data containing statistics, analysis, recovery, grade and cost calculations while most of the time ignoring the operating technique which must be applicable In the plant In order to optimize the product. He expects the reagent to be substituted In the plant for the existing reagent and ft works or does not work after trying several variables. The operating management Is equally guilty, In order to best explain this to both the customer and the supplier, ft becomes necessary to review the basic purpose of the major reagents utilized In flotation. A collector is basically to Impact selective, maximum water repellency on the surface of a particular mineral, The frother has the purpose of providing a chemically stabilized membrane on the surface of the bubble at the air-water interphase. This, then, provides a host environment for the attachment of the collector-coated mineral to a bubble. The depressant functions In the reverse of the collector and must demonstrate the same or greater degree of selectivity than expected of a collector. The key area which has been Ignored Is the rate by which these reactions occur and Interrelate. This has a very specific effect on the operating technique and the compatibility of the chemistry, equipment, and the operator himself. Researchers, suppliers, and customers provide reams of data to demonstrate how their products or design produce, for example, higher kinetics, more selectivity, or more recovery. The Information is often true. After all, we are all learned men and laboratory and actual plant data do not lie. However, we must remember the theme of this symposium and panel: Flotation Plants: Are They Optimized? and Optimizing of Flotation Reagents? The direct, honest comment to the two titles is very simple. OF COURSE THEY ARE NOT The plants, equipment, and reagents had better not be optimized or else we are in trouble. The Issue of this panel discussion is to approach this subject from a slightly different or perhaps mainly Ignored aspects of optimizing reagents in flotation. When we have reagents which provide higher kinetics, more selectivity, and better recovery, how do we use them? Since each reagent has a different physical characteristics of froth, rate of recovery, volume effect on the compatibility of equipment, and many more aspects too numerous to mention, the question which has been severely Ignored Is, 'What degree of study and cooperation by both the supplier and the operating management has been conducted In order to prepare the operator for maximizing the performance of a reagent In relation to the rest of the system?" Prior to testing a new reagent, how much time Is spent to bring the actual operator(s) Into the program to make them feel part of the program? How much time is spent explaining to the operator on the float floor how to possibly take advantage of a reagent with faster kinetics or one which Is Inherently more selective? What

Jan 1, 1993

By David D. Lambert

REE analyses of cumulate plagioclase from the PGE ore zone of the Stillwater Complex indicate that pressure fluctuations in the magma chamber acting on a single magma can- not be responsible for features such as the reappearance of Mg-rich olivine on the liquidus. The data is more consistent with a model involving multiple injection and mixing of geochemically distinct magmas. The PGE bearing sulfides of the J-M Reef are associated with such a re- appearance of olivine, indicating that the unusual location of the ore zone may be related to the addition of new magma, compositionally distinct from magmas that produced cumulates in the Ultramafic zone of the complex.

Jan 1, 1981

By I. J. Jansen

Successful soil construction involves preparation of an adequate base, selection of high quality soil materials, and placement of those materials by means which will establish a continuous macropore network and modest to low soil strength. Where such has been accomplished, experiments reveal row crop productivity on reclaimed land which is very competitive with that on undisturbed land. Inferior productivity and sensitivity to drought stress are experienced where the soils are excessively compacted during construction. Some deep tillage practices have been quite successful in improving the compacted soils, but it is preferable to avoid compaction as the soil materials are handled.

Jan 1, 1987

By M. P. Adamson, Bryson D. Trexler, R. V. Ramani, Mark L. Koenig, V. Rajaram, Alan Burton, C. S. Crocker, Kim. Y. C., A. G. Law, William C. Larson

Another record year vas experienced by the mining industry as the value of nonfuel minerals production soared to $23.5 billion-up 15% from the previous year. Based on preliminary estimates by the Bureau of Mines, US mine output was the basis for about $225 billion worth of minerals-derived materials. Metal mining accounted for $8.5 billion, or 36%, of the total. Of the 22 metals produced in the US, 11 showed quantity increases, while 16 had value increases. Business Week's survey of 1200 companies (Mar. 17, 1980, pg. 81) revealed that 21 metals and mining companies had sales increases of 30% with earnings up 104%. Higher prices and increased demand for metals were primary factors behind the improved performance. The steel sector reported a 30% decrease in earnings for the year, but the slump was primarily the result of a $383-million loss for US Steel coupled with a 17% decrease in earnings at Inland Steel. Other firms did well in 1979, with earnings up 279% at Interlake and 269% at Kaiser Steel. Major obstacles facing the steel industry included substantial tonnages of dumped and subsidized imports, environmental expenditures, runaway inflation, and price controls. Turning to nonmetallic production, of the 49 commodities reported by the US Bureau of Mines, 29 had higher outputs and 39 had increased values. While production statistics may seem encouraging, government regulations continued to stifle industry efforts to develop needed new capacity. A case in point may be publication of the Environmental Protection Agency's simplified procedure to streamline five permit programs by consolidating them into one. The five included: hazardous waste management, national pollution discharge elimination, dredge and fill, underground injection control, and prevention of significant deterioration. The new procedure, published by EPA in the Federal Register, took 149 pages. AMC's J.A. Overton, Jr., noted that (MCJ, Nov. 1979, p. 39) to visually depict the complexity of the proposed regulations, Sell Oil Co. developed a flow chart mapping a path through one section. The chart required 10 days to map and two weeks for two draftsmen, using computerized drafting techniques, to plot the results. Overton said, "Perhaps the greatest service EPA has performed in preparing its proposal is to demonstrate again that federal regulations have become a complexity compounded by confu¬sion that culminates in a conundrum." While regulatory agencies promulgate new regulations, the lack of a cohesive government minerals policy remained a matter of significant importance to mine management. A non-fuel minerals study to provide input to the Administration for a national minerals policy program was a dismal shock, according to Rep. Jim D. Santini (D-NV). He said the first phase of the program, which was to identify industry problems, failed to come to grips with the hard decisions necessary regarding these problems, their impact, and their interrelationship. Santini said the report failed to acknowledge government's role in the process and absolved the government of any adverse influence on the domestic minerals industry. In response to the phase one report, eight senior mining executives testified before Santini's House Subcommittee on Mines and Mining concerning mineral supply, access to foreign sources, environmental protection, conservation and recycling, national security, and capital formation. By year's end, Rep. Santini promised to prepare a hard-hitting committee report on problems affecting the non-fuel minerals industry to provide a better base for subsequent policy recommendations (MCJ, Jan. 1980, p. 34). On the technological front, interest again centered on mechanization, automation, and scaleup to improve and expand production. Computer use increased for calculation of ore reserves, mine planning, operations research, and mineral processing.

Jan 5, 1980

By David L. Durler

In-situ uranium mining is a relatively new and innovative method utilized for the commercial extraction of uranium. As with any mining method, however, significant environmental concerns will be evident and must be addressed in a rational and far-sighted manner. Experience has shown that radiological and non-radiological environmental problems may not manifest themselves until after the in-situ methodology has become established and matured to some degree. It is important, therefore, to recognize potential environmental concerns and incorporate them into an environmental program that spans the premining, mining, and post-mining phases of an in-situ operation.

Jan 1, 1982

By K. J. Ashley

Over the last six years I have been involved with the calculation of ore reserves and mine planning using various computer systems and soft- ware packages. This experience has given me a unique perspective from which to view the needs of the engineers and geologists whose job it is to produce geologic and mineable ore reserves. The purpose of this paper is to share that perspective with those who are in this field or are thinking of purchasing computer software to aid in these calculations. My first experience with computers in mining was the creation of a mini-computer based coal reserve and mine planning package written as part of my Easter's thesis. This package took about ten weeks to write, four weeks to document, and two weeks to install at the mine for which it was written. It did what it was designed to do, which was to emulate the hand procedure which had been used prior to its installation. The package was specific to its application which involved several small seams of coal being mined simultaneously and would have required major modification for it to be applied to a mine where, say, one thick seam was mined in two benches.

Jan 1, 1985

By D. M. Davidson

The economics of geologic exploration have changed materially in the past decade primarily due to the change in three basic factors, namely, increased wages and salaries, increased cost of materials, and a greater complexity in methods of exploration. Following the general economic pattern over the past ten years, exploration costs, have, in general, increased, although there is one heartening exception. A comparative picture is complicated because of advances in techniques which ensue from the introduction of new methods and devices largely for aerial exploratory work, Some of these methods were either in their infancy or unknown before World War II. Geological exploration may well be considered as a form of applied research. True, it has peculiarities from this standpoint some advantageous, others disadvantageous, Some of the advantages lie in the fact that exploration success does not involve the production of a new product which necessitates advertising expense and marketing problems. In normal times there is a well established market for the fruits of a successful mineral find. The outstanding disadvantage of exploration lies in the enigma of deciding when to quit if the sought fop prize is elusive. In the search for buried treasure, man?s curiosity is apt to color his judgment. Even the so-called detached scientist may fall 'all too readily into the wishful thinking of the old- time prospector who is lured on by the thought that the next pull from the drill hole, or the next round from the face will reveal a bonanza. It involves mature judgment and experience to ascertain the stage in exploration when further work is not justified.

Jan 1, 1958

By Gerard P. Hand

The use of graphite in industrial applications is one of the oldest in the world. Yet, it is one of the fastest-changing technologies today. Graphite was first used centuries ago in developing writing instruments and as a raw material in crucibles used in melting metal. Today, graphite is used in some of our most demanding industries. These include aerospace, electronics and automotive applications. Graphite usage has historically been split between the natural and synthetic forms. Figure 1 shows the breakdown of natural graphites and synthetic graphites used. The usage of natural graphites and synthetic graphites is split fairly evenly, although the applications are quite different. Figure 2 shows the breakdown of applications using natural graphite. The largest application is the refractory industry. This includes refractory brick and plastics, crucibles, shrouds and other refractory parts. This main application uses roughly 50% of all natural graphite. The refractory industry is an important application for natural graphite. However, the refractory markets have been struggling for several years. As demonstrated in Fig. 3 (Semler, 1996), the production of refractories in tons per year has declined by more than 32% during the last 25 years. Refractory prices have actually risen on a dollar per ton basis during that same period as the product mix has shifted to the value-added side. Raw material and production cost increases, inflation and other related costs have kept profitability at low levels for the industry. Furnace linings that once lasted 1,000-2,000 heats now last 8,000-12,000 heats. This means that tonnage requirements have gone down and quality requirements have gone up for graphite suppliers. Therefore, new opportunities and applications must be developed if the graphite industry is to grow. Synthetics are the other major forms of graphite. There are two forms of synthetic material currently used. One is the traditional type. It is made from the turnings of graphite electrode production. The second was developed in the mid-1970s in response to a shortage of conventional synthetic graphite. This occurred by a breakthrough in thermal technology. This new technology purifies, desulfurizes and graphitizes petroleum coke on a continuous basis at temperatures of more than 2,500° C (4,532° F). This product is called desulfurized petroleum coke (Desulco). It now accounts for about half of the synthetic type material used in the United States. Figure 4 shows the breakdown in the use of synthetic types of material by application. The largest requirement is for use as a carbon addition in iron and steel. This is followed by alkaline batteries and friction materials. Current technological opportunities New opportunities for graphite products are now being developed. These new areas are made possible due to the advances in graphite thermal technology. The ability to purify and modify graphite and carbon products is the key to future growth in the graphite industry. New, higher-purity, more consistent graphite products are leading to enhanced performance in current applications. They are also opening the door to new applications.

Jan 1, 1997

By Gary E. Slagel

The federal Office of Surface Mining (OSW) has undertaken an effort to revise many of their permanent program regulations. Numerous procedures for compliance are being rewritten to allow for greater flexibility while meeting the requirements of the Surface Mining Control and Reclamation Act. This study investigates, for certain select provisions, the cost differential between complying with the original OSM standards and the more flexible, state-specific standards being allowed in many of the revised regulations. Estimated cost savings that could be realized under a few of the revised regulations are substantial and should provide a basis for seeking revisions to the state regulatory programs.

Jan 1, 1982

By Theodore H. Eyde

In the southwest porphyry copper province, the virgin prospect with good copper mineralization cropping out has disappeared. Future discoveries will require an increasingly sophisticated arsenal of exploration techniques and concepts. One of the latter, stratigraphic analysis, is a technique which is often overlooked. A surprising number of exploration geologists still think of porphyry copper deposits as occurring wholly within intrusive bodies such as quartz monzonite or granodiorite. Disseminated copper mineralization, though genetically related to intrusive rocks, can occur within both the intrusive and the intruded rocks. At present, as much as 30% of the total copper produced from disseminated copper deposits in the Southwest originate from the intruded rocks rather than the intrusive. George M. Schwartz, in "Geology of the Porphyry Copper Deposits of Southwestern North America" points out that the host rocks at porphyry copper deposits include such diverse rock types as diabase, granite, limestone, dolomite, quartzite, skern, sericite schista, and others in addition to the more common monzonite, quartz-monzonite, and diorite porphyrys. Therefore, a porphyry copper can be defined as a disseminated copper deposit occurring either in or adjacent to a granitic-monzonitic-dioritic intrusive which can be exploited using bulk. mining techniques. The original definition of porphyry was originally applied to the early producers, such as Inspiration, Bingham, and Ajo, in which the copper mineralization occurred principally within the intrusive. A review of the geologic literature describing the porphyry geologic

Jan 1, 1971

By Christopher J. Bise

The potential of the coal reserves in the western United States for meeting future energy needs has been recognized for quite some time. However, two of the major constraints which have tended to limit the development of these reserves which can only be deep-mined are the great thicknesses of the coal seams encountered and their high pitch. Although new mining methods may need to be developed to recover these reserves, at least in the short- term the industry has to incorporate presently available equipment which were not originally designed for thick-seam mining. The purpose of this paper is to present an analysis of the various equipment that are in use today and their possible application to thick-seam mining. The paper also addresses the various ground control and safety considerations that are unique to thick-seam extraction.

Jan 1, 1981

By Joel K. Waterland

The Homes take Mining Company at Lead, South Dakota has a yearly production of 1,868,741 tons of ore produced from horizontal cut-and-fill stopes and timber cut-and-fill stopes. This production, in addition to the necessary development (drifts and raises), requires 5,168,271 feet of drilling annually. The rock for the most part consists of quartz; mica schist; and cummingtonite schist; and must be considered as relatively hard. Penetration rates average about 15 inches per minute using an operating air pressure of 100 psi. The rock is tough, rather than brittle, and dulling occurs quite rapidly. The average regrind period is approximately 19 feet per regrind using a 1-7/16 inch carbide bit. At the present time, all drilling is accomplished with 2-5/8 inch bore airleg mounted drills, and 2-3/4 inch and 3-inch diameter bore -stopers (raising only). These machines are all direct striking, with 4-1/4 inch chucks. 7/8-inch hexagonal carbon drill steel with forged collars are used in conjunction with 1-7/16 inch multi-use, threaded, carbide bits. 62,793 rods, and 16,234 bits are used to maintain the yearly production. The number of rods noted are the rods that were sent: underground, both new and reconditioned.

Jan 1, 1963

By John S. Wakeman

The progress results of a pilot plant study on the effects of ball top size and other mill operating parameters are reported. Test series on taconite and quartzite crude ores using a 1.7m diameter primary mill in closed circuit with a vibrating screen indicate clear trends on the improvements of mill throughput and power consumption when using larger diameter balls. Possible effects on mill liner and ball consumption as well as future research plans are discussed.

Jan 1, 1984

By T. McCallum, B. Wellbrook, T. Ratnaweera

"Pressure oxidation (POX) leaching of copper (Cu) concentrates continues to be explored as the next generation of leaching processes to sustain existing Cu Solvent Extraction/Electrowinning (SX/EW) operations as easily leachable ores become scarcer. The leach liquors produced, particularly from total pressure oxidation, contain elevated concentrations of Cu and acid, making solvent extraction processing more challenging. Addressing this challenge will require innovative processing techniques and continuous improvement to be successful in achieving satisfactory physical and metallurgical performance in the SX plant. The ability to efficiently process these feeds via SX plays an important role in the continued success of POX technology. Characteristics of a concentrate leach pregnant leach solution (PLS) are discussed, along with best practices that should be considered for processing by SX. Findings discussed in this paper will shed light on ways to reduce process risk and bring additional improvement to the industry with minimal change to the SX plant. INTRODUCTION Hydrometallurgical processing of copper concentrates continues to gain interest from the industry. Treatment by smelting and electro refining continues to dominate, accounting for ~80% of global copper production, but is faced with its own challenges. The case for increased hydrometallurgical processing has been discussed as high grade ore deposits are diminishing, capital costs for smelting are high, and the environmental aspects present challenges for sustainable practice. The hydromet copper industry is also turning a corner as easily leachable copper oxide deposits are depleting, and excess SX-EW capacity exists in certain regions. The transition to hydrometallurgical processing of copper concentrates will take a bit of effort as leaching of copper sulfides is difficult and byproduct credits must be considered. Various POX leaching processes have been studied and proposed to the industry as viable practices. Of the many processes, commercial use has been practiced with the Mount Gordon Copper Process, total and partial pressure oxidation by Freeport-McMoRan at their Bagdad and Morenci, Arizona complexes, the Sepon Copper Process in Laos, and the bioleach BIOCOP™ process in Chile. The experience related to the current paper centers around Cu concentrate leaching performed by Freeport McMoRan (known as CLP). The patented process was developed as an alternative to smelting and refining in 1998. The technology applies to both molybdenum and copper concentrates. Commercial CLP research and development began with Phelps Dodge in 1999 to 2001. The first commercial plant was commissioned in 2003 at the Bagdad operation. Initial operating conditions of the Bagdad CLP were under high temperature conditions before converting in 2005 to medium temperature conditions. In 2007-2009, the CLP technology was commissioned in Morenci, operating medium temperature and high temperature lite conditions until shutting down due to the economic downturn. The Morenci CLP restarted operation in April 2015 due to acid production benefits for the Morenci leach operations. Renewed solvent extraction test work initiated well before restart and has been an ongoing focus for further SX plant optimization."

Jan 1, 2018

By Rainer Alles, Markus Keller

INTRODUCTION For overland conveyors of several kilometres length and as well as wide for conveyors designed for high mass flows, the cost for the conveyor belting share is 40% to 50% of the invested cost 173. The German Standard DIN 22101 is used for calculation and dimensioning of - conveyor belts and belt conveyor components. Developments in rubber technology and conveyor belt design required a revision of the standard released in 1982 121, which was published in August 2001 131. New research results and publications 16-9, 13-15] led to a better understanding of the material behaviour and their influences on conveyor belts. Test and calculation methods have been established to determine the most important parameters which are related to the performance of a conveyor belt line. These parameters are • The running resistance of the idlers • The indentation resistance of the belt • The dynamic splice efficiency • The distribution of belt load in the splices, transition zones and on pulleys. As a result, new rubber compounds with low indentation losses allow the use of reduced friction coefficients and thus lead to reduced power consumption, smaller drives and lower belt tensions. The deeper understanding of the flux of forces within belt splices led to both optimised splice design and optimised rubber compounds which significantly improve the dynamic splice efficiency. Therefore, in accordance with the standard, the benefits of these technologies and the better understanding of material behaviour allow a reduction of belt strength still maintaining sufficient safety factors. Thus engineers are enabled to calculate belt tensions more exactly and users are encouraged to pay more attention to starting and braking techniques. DETERMINATION OF DRIVE FORCE According to the DIN standards the resistance to motion generally has to be determined for each different section of the belt conveyor including upper and lower run separately. The necessary drive power P is calculated as [ ] with v as the conveying speed. The total of all resistances to motion of carry and return run can be determined as [ ] FHo and FHu are the primary resistances consisting of the running resistances of the idlers, the indentation resistance of the belt, the fulling of the conveyed material and the flexure of the belt. While indentation resistance and idler resistance are measurable, they have been deter- mined to be responsible for up to 70% of the primary resistances covered by FH. Further FN is the secondary resistance that covers, for example, the resistance of feeding points and scrapers. Fa are the total slope resistances and Fs is the total of all special resistances, resulting, for example, from belt steering devices. These three resistances should be neglected in the following discussion. For conveyors where a determination of the substantial parts of the resistances to motion is not possible, according to the new DIN standard [31 a determination of the drive power is acceptable by using the fictitious friction factor) [ ] In this formula the index i identifies the individual section of the conveyor, 1 is the length of the section and MR, MG and ML are the related masses of the idlers, the belt and the load in kg/m. The fictitious friction factor f determines the ratio between the overall resistance to motion and the total of moved masses within the

Jan 1, 2004

By V. A. Evans

The preparation of a paper reporting fluorspar economics in the United States at one point in time could have been somewhat complicated be- cause of the number of producers, both large and small, that derived production from different locations throughout the Western U. S. and the Southern Illinois and Western Kentucky fluorspar districts . Companies such as Allied Chemical and William- son Mining operated in the Jamestown district of Colorado. In Walden and Salida, Colorado, the Colorado Fluorspar Company operated mines and mills.

Jan 1, 1986

By William K. Brown

Are the results of an exploration program worth the cost? This is a question I suspect many of you are familiar with and, theoretically at least, it is an easy question to answer. The answer, of course, lies in comparing the future earnings stream the program is expected to generate, to the present value of the cost of carrying it out. While historical costs can be determined without much difficulty, estimating the value of a future earnings stream involves all sorts of assumptions regarding future costs, metal prices, inflation rates and an appropriate discount factor; and in the context in which the question arises, requires additional assumptions about mineral deposits which have yet to be discovered. As a practical matter, this kind of approach isn't likely to produce a very convincing answer; certainly not one convincing enough to satisfy a skeptical audience; nor one likely to temper the illusions of recent converts to mineral exploration, who are convinced that if enough money is spent, profitable discoveries will inevitably follow. Within broad limits, however, I believe it is possible to analyze the costs and results of gold exploration in the U.S.A. over the past 20 odd years in a useful manner. And while such an analysis is imperfect, it will provide some insight into this fascinating subject.

Jan 1, 1983