Search Documents

By Paul Swatkowski

A Note About Copyrighted Material ??Permission to Use? has been granted ?Teachthe7habits ?Think win/win (4thHabit) ?Don?t stop here ?i.e., buy the book

Jan 1, 2009

By Jan H. Hommen

TRENDS IN MINE FINANCE Reviewing historical trends may help in dealing with future funding strategies. The first trend is the increase in the use of debt to fund corporate America. Surprisingly, when comparing that with other corporates in the global marketplace, the U.S. does not look too poorly. Japanese, in particular, but also German companies, are much more leveraged than their U.S. counterparts. Note that in Japan and Germany the government and the consumer have shown substantial restraints when it comes to credit. Not so in the U.S. where the savings rate (4%) is much lower than that in Japan (20%) and in Germany (14%). As a result, the cost of leverage is substantially lower in Japan and in Germany than in the U.S. Lower debt costs in these countries allows one to obtain more of it for the same price. The close relationships between financial institutions, corporations and governments in Japan and Germany also make the risk of leverage more bearable and understandable. Also note that interest rate volatility in these countries is more subdued. The investor base in common stock is also changing. Private pension funds have been net sellers of equities during the last few years while public pension funds have been net buyers. Individuals are basically out of the market. It is estimated that over $330 billion of equity was retired in the U.S. through 1986-1988. The reasons are well known: restructurings, buy-backs, takeovers, mergers, and buy-outs. This de-equitization is likely to continue as the cost of equity capital is higher than the cost of debt capital, even on a before-tax basis. Because there has been no market for equity since October 19, 1987, junk bonds have replaced equity capital in the corporate finance structure. The non-investor-grade borrower has access to the public markets through high-yielding debt securities that often look like senior equity. Deregulation has also provided 24-hour markets; securitization can now liquify assets that before were rusting on balance sheets; information processing and communication tools give facts that are instantaneously available, creating the need for products to cover risk and exposures unknown before the start of the information and technology explosion. Thus we now have swaps, options, futures, options on futures, caps, as well as program trading, portfolio insurance, index funds, etc. Globalization will be unstoppable. Today's environment demands it. Corporations are now global competitors, even though they may have never shipped a product off-shore. Boundaries are disappearing and impediments have been removed. Stocks can be issued in a global offering with distribution in all major financial centers of the world. The high leverage of Japanese companies has made common stocks very scarce, which with the high savings rate, makes equity capital inexpensive in Japan. If markets were perfect everyone would issue stock in Tokyo and buy it back in New York. This would certainly stop the bleeding on the balance of payments. With the deficit balance of payments in America, it is no surprise that the cost of money is expensive here. The risk-return relationship on U.S. equity is not favorable enough to appeal to Japanese equity investors. The Tokyo-market, helped by a stronger yen, surpassed New York as the most important equity market in the world. The question is, will the Tokyo market hold up when Japanese domestic consumption increases at the expense of savings? In the U.S. debt markets, the plain vanilla debenture is making a comeback after a period of absence. Commercial paper has replaced short term bank borrowings for working capital funding by larger corporations. The banks have made an interesting comeback with loan sale programs that will continue to attract borrowers. There will be a continuing

Jan 1, 1990

After months of negotiations, the U. S. has agreed to buy between 6000 and 7000 long tons of Bolivian tin now stockpiled at Peruvian and Chilean ports, at $1.175 per lb, f.o.b. South American Ports. Harry A. McDonald of the Reconstruction Finance Corp. signed the contract with Victor Andrade, Bolivian ambassador. The Mercantile Metals and Ore Corp., of New York City, acted as the agent of Bolivia's Banco Minero in negotiating the deal. The contract is a short term one. Throughout the talks, the U. S. refused to make a long term agreement because of the possibility that Bolivia will soon nationalize its mines. The Bolivians desired to sell the U. S. 18,000 tons during a one-year pact. The price agreed upon is roughly the same as with Malayan producers. In the meantime, American Smelting & Refining Co., signed over control of its operations to the Bolivian Government. The formal act of leasing the mines to the Bolivian Government follows the announcement last July by the company that it was closing operations because of high costs. Contract terms were not disclosed.

Jan 1, 1952

New Copper Deposit in Chile. - The recent copper discovery in Chile, made jointly by U.S.-owned Empresa Minera Utah de Chile, Inc., and Getty Mining Chile), Inc., awaits the passage of Chilean legislation which is expected to govern the terms of new foreign investment in the country's mining sector. Named La Escondida, the discovery is reported to have the potential for producing 100,000 tons of refined copper per year. This compares with Chile's total refined primary copper production in 1980 of 811,000 metric tons, and to U.S. refined primary production in 1980 of 1,122,000 metric tons derived from domestic material, and 89,000 metric tons from foreign material. U.S. Firms Buy Chilean Properties. - A bid of $18.1 million, made jointly by Chevron and St. Joe Minerals Corp., won over competing bids for the purchase of the Libra and Mena gold-silver-copper deposits in northern Chile. Chevron is the lead partner and owns 70% of the venture. The two properties purchased have not been developed to any significant extent. They are located near St. Joe's El Indio gold-silver-copper mine. The venture is also looking at the possible purchase of two other mines in the area.

Jan 1, 1981

By C. N. Greene

I am sure it is obvious to all of you that a complete program of casualty and property insurance is as necessary for any tunneling contractor as it is for anyone else involved in trade in the United States today. Going beyond those general undefined terms, there are many areas that need specific attention, particularly for contractors, regardless of size. WORKERS' COMPENSATION Workers' Compensation is mandatory in all states and the District of Columbia. In most of the states, private insurance provides this coverage. In a few states, the state operates Workers' Compensation funds, some of which are competitive with the private sector and others are operated on a monopolistic basis. Under a monopolistic setup, you have no choice, you must buy coverage from the state. Self insurance of the Workers' Compensation risk is also an alternative in most jurisdictions. With a contractor operating only in the U.S., the coverage extensions are few in number. If your work brings you anywhere near navigable waterways or land extensions thereof, you should have both U. S. Longshoreman and Harborworkers' coverage, as well as Employer's Liability coverage for the master or members of the crew of a vessel.

Jan 1, 1983

By A. Johnson

When are SMART transmitters the smartest choice? To answer this question requires a closer look at SMART transmitter technology. It is necessary to understand this technology in order to recognize how it can best be utilized to give the greatest value for the application. And, once the decision to buy transmitters has been made, it becomes a question of whose SMART transmitter to buy. For, although the under-lying technology is similar, the differences that exist in how the technology has been implemented can make a dramatic difference in the end result. What prudent users of SMART technology do is to analyze their needs by application before making their buying decision.

Jan 1, 1988

U.S. Signs Pact With Miami Copper Miami Copper Co., of Arizona has agreed to mine lowgrade copper ores in an extension of its Globe-Miami mining district operations at a guaranteed price of 27.35[] per lb, under a contract signed with defense Materials Procurement Agency. Terms of the contract call for delivery of 230 million lb of refined copper between 1955 and 1962. DMPA said highgrade ore in the de posit will soon be exhausted and it is considered advisable to have Miami continue the operation. The Government has an option to buy 120 million lb of refined copper from present production at market prices. Miami will develop the new ore- body at its own expense-estimated at $3 million. If losses under the new contract reach a specified point, Miami may cancel the agreement. The company plans to use the block caving method in the underground operation.

Jan 4, 1953

By Blandford C. Burgess

Mica is an orchid among minerals. It is formed in pegmatites, one of the most bizarre of igneous formations, and is exceeded by few other minerals in the perfection it may attain as to size, color, and cleavage. First used for window glazing, as an ornament and article of trade, it has become one of the most essential insulators of electricity, heat, and shock. Most internal combustion engines use mica condensers or capacitors and such machines of war as planes, tanks, and submarines are immobile without it. The original manuscript of this guide was written in April 1943 at the peak of war emergency. It was not used be- cause shortly thereafter a decision was made to buy on a one price basis eliminating differentials for both quality and size. This is now presented with the thought that from the standpoint of preparedness we can only consider an- other war imminent and every effort should he made to set up in usable form the experience gained during the Second World War. Colonial Mica Corp. was set up by Metals Reserve Co. as a wholly owned government agency to encourage production of domestic mica and to purchase it. It soon became the exclusive buying agency for such mica. The writer as Southern Manager called on all the private agencies buying mica to assist in formulating buying policies, methods, and prices.

Jan 1, 1949

By David van Cleave, David L. Rome

Whether you buy your minicomputer from a manufacturer or another vendor, the first thing you must do is define your needs. With good planning, the initial cost will be low and your return on investment will be maximized over the long term. Involving all members of your staff who will he using the new computer in the planning phase is also important. Their participation will alleviate any potential concerns they may have about new equipment, and their suggestions will provide valuable input for your specifications. After you define your proposed system, survey available hardware and software. The survey will help you in the next step, preparation of specifications. The specifications, along with a quote request, are then sent to various manufacturers. Consider the Manufacturer When selecting your minicomputer, one important item to consider is the manufacturer. Remember, when you buy a computer, you're also buying the services of a computer company. A firm that makes a commitment to its customers and provides a product that is field tested before releasing it for sale is preferable. Examine the company's maintenance and support packages, since every machine requires preventive maintenance. Does your manufacturer or original equipment manufacturer (OEM) support service sites in your area? Has their service record been commendable? Will they provide training for your personnel and a supply of circuit boards so you can retain a degree of self-service autonomy? Three methods of buying a computer involve the manufacturer, an OEM, and the systems house. Buying direct from the manufacturer means you go straight to the source, using no middleman. This gives you maximum flexibility; you can consider every alternative and many possible combinations of computers, peripherals, and software until you find exactly the right system for you. The OEM buys computers direct from the manufacturer and builds them into his own computerized, special purpose product. He usually sells a complete package, including software and hardware, and often noncompetitive equipment as well (a scientific or engineering instrument, for example), designed for the mining market. Because he offers a packaged product, the OEM can often charge less for the system than if you put the pieces together yourself. In many ways, the OEM also provides a unique system. And while the OEM sells a packaged solution, he also usually has the special market knowledge necessary to modify the system to meet your unique needs, if necessary.

Jan 11, 1981

The United States is being invaded... by foreign capital: marks, francs, pounds, yen, lire, riyals, you name it: On almost any given day the Wall Street Journal will contain a new report on a department store, newspaper, bank, hotel, agricultural land, supermarket chain, et a1 being bought into by overseas investment. Xenophobic reaction to this revised national condition has begun to set in. Several farming states have and are introducing legislation to monitor foreign land buying. In Congress a mandatory reporting requirement for foreign purchasing is currently under study. In a relatively short period the country has reverted from world leader- ship in overseas acquisition and involvement to become itself one of the prime investment opportunities in existence. Interestingly enough, one of the industries where this changed status has become most apparent and pronounced is within that small/regional/segmented/low value-to-weight bulk commodity enterprise ranked as the backbone of the nation's construction activity. U.S. cement making is not only undergoing internationalization in its ownership, but also in its product, equipment, and engineering expertise.

Jan 1, 1979

By John Matthews

During 1982 and 1983, it became increasingly clear that North River No. 1 Mine would have to buy a set of replacement longwall shields. Despite extensive efforts to make improvements, the shields that were in place at that time were incapable of holding the roof. North River Energy had limited experience in specifying and acquiring longwall roof supports, but a great deal of experience with our conditions and needs. We there- fore compiled a shield evaluation method that uniquely responded to our situation. The resulting system emphasized teamwork among operating, maintenance and engineering personnel. The charge from management was threefold: select shields to support maximum expected loads, optimize face operations, and pay attention to detail. Final selection was made objectively, based on all available information. We chose a 5516 KN (620 tons) support with a minimum yield load density of 760 KN/m2 (7.9 tons/ft2). This paper reviews our process of specification, design, prototype testing, and fabrication, and offers some relevant suggestions.

Jan 1, 1986

The House Committee of the Engineering Societies Building has lent to he members of the three welfare committees a room on the ground floor of the building where they can carry on some of their war activities. Two sewing machines and two knitting machines are installed there and ladies are invited to sew for the Foreign War Relief Committee and knit for the Emergency Committee, which is working for the 27th Engineers, a special mining regiment. The Emergency Committee, Mrs. H. Norman Spicer, Chairman, reports the formation of a committed of 21 members. The organization meeting was held March 7, and plans were made for future activities as follows: A letter was read from Mr. Ingalls asking for 72 sweaters, 72 helmets, 66 pairs of wristlets as well as 772 pairs of socks, 272 being for immediate delivery. To meet this request it was decided to secure the helmets and wristlets from the Navy League, and to undertake the making of the sweaters and socks ourselves. Accordingly Mrs. H. N. Spicer and Mrs. J. H. Devereux were empowered to buy wool in sufficient quantities, and woven material for the 72 sweaters, sending the bills to Mr. Ingalls, who had guaranteed the money from the Engineering and Mining Journal. This was attended to promptly, and the materials were ready for distribution to the committee on March 13. After considerable difficulty, knitting machines for the socks were discovered and the agent came to demonstrate them. Mrs. Spicer gave one to the Committee and Mr. Ingalls has guaranteed the money to buy two when the manufacturers can deliver them. Up to April 6, 130 pairs of socks, machine and hand-knitted, have been handed in-also 68 sweaters, 80 helmets and 90 pairs of wristlets. It has been calculated that it needs five women knitting behind each man at the front to keep him continuously supplied with knitted garments.

Jan 5, 1918

By Phillip J. Maddex

The cost of transporting mineral raw materials and products will receive greater attention in the next 10-20 years because raw material sources and markets are changing. Today, shipping costs may equal 20%-80% of the landed or delivered cost of raw materials and products. Companies are learning that total costs are what count to the company and customers. Transportation has historically been priced at "What the traffic would bear" and little real effort has been made to analyze the shippers problem and provide them with effective and low cost transportation. This climate existed in both ocean and rail transport. The shiplines and railroads did not understand the shipper's problems and few shippers understood transportation and how to buy it. Recently more consideration has been given to the advantages between the American Merchant Marine- American Flag and Foreign flag vessels. The discussions held focused on what action is desirable to encourage American flag operations. Based on extensive studies made by both A. E. Gibson, Maritime Administrator and R. J. Blackwell, Deputy Maritime Administrator, the resulting statistics show that the potential for ocean transport is as follows: U. S. Foreign trade is estimated at 620 million long tons annually in the early 1980's. It was 418 million tons in 1968. In 1968 only 6.4% of the U.S. ocean borne trade was carried on American Flag vessels. About 50 million tons of early 1980's trade will go ill container ships. That leaves over 500 million tons to go as bulk or "neo-bulk" cargo.

Jan 1, 1970

By Lyman H. Hart

Some of the significant facts that will affect the supply and demand for metals during the next few decades are given in this presentation. This is important because the only hope for intelligent guidance of the national destiny depends upon presenting a consistent and accurate picture of basic problems. The metals problems now fomenting are only slightly less important than those precipitating the energy crisis. Admittedly, it is difficult to generate serious thinking on this subject when the world is enjoying easy access to all metals at modest prices. This is possible because of the current world capacity to overproduce, and United States credit standing, at least up to now, has permitted buying freely on world markets. Although both these vital conditions are subject to change, there is little doubt that if the U.S. financial house is kept in order, we can muddle along for a while on a generally expanding, metalbased economy. But should our credit standing be permitted to collapse, or should there be a tightening of world supplies of metals, the nation would immediately find itself in trouble. Unfortunately, clear signals indicate that both of these conditions are threatening.

Jan 4, 1973

By L. A. Neumeier

A refinement of the tungsten-cobalt phase diagram is presented for compositions to 85 at. pct cobalt and for temperatures to the solidus. Preparation of alloys by powder metallurgy methods is described, and the results of studies made by a combination of techniques involving microscopy, X-ray diffraction, thermal analysis, and dilatometry are discussed. The existence of u-W6Co7 is confirmed (rhombohedral D85 structure). The W6Co7 phase forms periectically at 1,685'115° C by reaction of liquid with primary W; the peritectic melt is at 71 at. pct cobalt. The homogeneity range of u-W6Co7 extends to both sides of the ideal stoichiometric ratio, through a compositional range of about 5 at. pct. The compositional limits for u-W6Co7 vary slightly below 1,471°±5° C, the temperature of the eutectic reaction forming u-W6Co7 plus a. The eutectic composition is at 79 at, pct cobalt. The existence of WCo3 is confirmed (hexagonal D019 structure). WCo3 forms peritectoidally at 1,093°±5° C by reaction between a and u-W6Co7 and exists over a narrow homogeneity range of 0.5 to 0.6 at. pct. The solid solubility of cobalt in tungsten is low (maximum 0,9 at, pct cobalt) and results in contraction of the tungsten lattice. Tungsten is extensively soluble in a-Co at higher temperatures; the a-Co lattice is expanded by the presence of tungsten in solid solution. There was no indication of the formation of a o-phase nor of any intermediate phases other than WeCo7 and WCo3. The WeCo7 and WCo3 phases are compared with similar phases in other systems.

Jan 1, 1967

By Joan Weinberg

Real gross national product (GNP) grew at a seasonally adjusted annual rate of 2.2% in the third quarter, down from a revised 3.0% in the second quarter, according to preliminary data from the U.S. Department of Commerce (table 1). The slowdown in the rate of growth was attributed to the summer drought, a larger trade deficit, and a decline in Federal spending for defense. Exports slowed from the second quarter, as the dollar, compared with other industrial country currencies, edged up. Imports of both consumer goods and capital goods rose sharply, with consumers buying more foreign cars, computers, and electrical machinery. Although net exports of goods and services deteriorated slightly from the second quarter, the U.S. trade position continues to be much improved from 1987 and first quarter, 1988. Business spending for new plant and equipment rose at a 4.6% pace, well below that recorded earlier in the year. The 3.5% increase in consumer expenditure was accounted for mainly by nondurable goods and services; expenditure for durable goods--those products lasting more than 3 years--rose only 0.4%. Inflation, as measured by the fixed-weighted GNP price index, rose at an annual rate of 4.9% in the third quarter. Prices rose slightly less than they had in the second quarter, when inflation reached a 6-year high. In September, 1988, the President signed a U.S.-Canada free trade agreement (FTA) which will eliminate all tariffs and most nontariff barriers between the two countries by 1999, thereby creating the world's largest open market. In 1987, U.S.-Canadian bilateral trade totaled $161 billion. The expansion of trade is expected to generate 5% higher growth for Canada and up to 1 % higher growth for the United States by the end of the century. The higher growth for the United States translates into an estimated 750,000 jobs, and $2.4 billion in exports. Canadian parliamentary approval of the agreement is still required before the treaty can take effect. The debate in Parliament is continuing, and the issue is not expected to be resolved until after the November 21 election.

Jan 1, 1988

By Blandford C. Burgess

Mica is an orchid among minerals. It is formed in pegmatites, one of the most bizarre of igneous formations, and is exceeded by few other minerals in the perfection it may attain as to size, color, and cleavage. First used for window glazing, as an ornament and article of trade, it has become one of the most essential insulators of electricity, heat, and shock. Most internal combustion engines use mica condensers or capacitors and such machines of war as planes, tanks, and submarines are immobile without it. The original manuscript of this guide was written in April 1943 at the peak of war emergency. It was not used because shortly thereafter a decision was made to buy on a one price basis eliminating differentials for both quality and size. This is now presented with the thought that from the standpoint of preparedness we can only consider another war imminent and every effort should be made to set up in usable form the experience gained during the Second Morld War. Colonial Mica Corp. was set up by Metals Reserve Co. as a wholly owned government agency to encourage production of domestic mica and to purchase it. It soon became the exclusive buyimg agency for such mica. The writer as Southern Manager called on all the private agencies buying mica to assist in formulating buying policies, methods, and prices. A meeting was held for that purpose in Asheville, N. C., July 20, 1942. In the general discussion the first two hours of the meeting it was decided that the following factors should be considered in pricing strategic mica: clearness, flatness, trimming, color, classification (size and quality), free splitting, hardness, and air inclusions. Most of the mica miners have been buying strategic mica, according to the mine, as No. 1, No. 2, or Nos. 1 and 2 combined. In addition to these grades of strategic mica they have been buying three lower grades of mica, electric (vegetable-stained), black-spotted and black-stained. A number of mines were named one by one and the buyers present gave their opinions as to the basis they would use in buying the sheet mica from each. It was suggested that in addition to the prices already published, prices be posted up to 10 pct higher for special quality and preparation and prices be posted 25 pct lower than the published prices for the lowest acceptable grades of strategic mica, giving the buyers authority to make intermediate prices according to the quality and preparation. It was thought desirable at the same time to announce prices for nonstra-tegic mica where such quality is being obtained in mines producing strategic mica and where it would be necessary to take the output in order to get the strategic mica. It was also suggested that the price of electric and black-spotted mica be 50 pct below the price of the lowest grade of strategic mica and the price of black-stained mica be 60 pct below the price of lowest grade strategic mica. The few experienced buyers available were employed but they were inadequate for the job and others had to be trained. All needed a guide or primer of some kind to attain systematic procedure and consistent prices in their respective buying areas. The Mica Buyers Guide was formulated for that purpose based on experience gained in the first six months of buying. The Preface to the original guide was as follows: The purpose of this guide is to serve as a text in training beginners and as a handbook for experienced buyers of the instructions which have been issued up to this time. At the meeting of prospective buyers last summer, it developed that the first essential to attain uniformity must be some kind of check sheet. Our "Mica Buyers Report" was developed for this purpose and forms the backbone of this guide. Price is determined according to size, quality and preparation. Size can be measured, but no system of measurement or machine has been devised which can be substituted for the trained eye of the buyer to deterrnine quality and preparation. Although the "One Price" system was instituted and the "Guide" not used, the buyers were required to continue making out a "Mica Buyers Report" (Fig1) with each lot of mica purchased. The form proved its value and there is no doubt that in another such emergency some similar form should be

Jan 1, 1950

By Ludwig Schmidt

The policy of buying crude oil on a gravity basis , recently instituted by the major crude oil purchasing agencies in the Mid- Continent field , has caused a new and vital interest to be taken in the work of the U. S. Bureau of Mines for preventing evaporation of crude . From the early years of the industry oil men have recognized that the gravity of crude oil is usually an index of the gasoline content , but it has not been so generally known that the gravity of the crude oil decreases if evaporation is permitted . In 1919 the Bureau of Mines began a survey to determine the evaporation losses of crude petroleum in its various stages of handling from the well to the refinery , The results of this study are presented in Bulletin 200 ( Wiggins , J.H. , Evaporation losses of petroleum in the Mid- Continent Field , Bulletin 200 , U. s . Bureau of Mines , 1922. ) and Bulletin 225 ( Wiggins , J.H. , Methods of decreasing evaporation losses of petroleum , Bulletin 225 , U. S. Bureau of Mines , ( In press ) The findings of this survey were so startling that soon after the preliminary report had been published , several tank companies began manufacturing vapor- tight tanks for the purpose of reducing these important losses . Since that time the development of this type of apparatus has been so rapid that today , every oil trade journal carries numerous advertisements of vapor- tight tanks and equipment as well as technical articles dealing with various problems in connection with the elimination of evaporation losses , whereas three or four years ago the subject was scarcely even thought of. The present report has been prepared in response to numerous requests for information on the apparatus actually being used to prevent evaporation losses . At this time oil operators are also extremely interested in holding the lighter fractions in the crude oil in order to prevent a lowering in gravity . The practice of removing the vapors from crude- oil tanks by means of a slight vacuum and extracting the gasoline from them is not discussed here .

Feb 1, 1923

By T. M. “Mike” Gurr

"U. S. marketable phosphate rock production for the 2018 crop year (July 1, 2017 to June 30, 2018) showed an increase to 27.7 Mt (30.5 million st) from the 2017 crop year production of 27.1 Mt (29.8 million st), as reported to the U. S. Department of the Interior by the mining companies operating in the United States during crop year 2018 (Table 1). Domestic consumption decreased in the 2018 crop year to 23.9 Mt (26.3 million st), as compared to the 27.2 Mt (30 million st) consumed in crop year 2017. U.S. imports of phosphate rock increased to 3 Mt (3.3 million st) for the 2018 crop year from the 1.81 Mt (1.9 million st) for crop year 2017. Imports of phosphate rock were from Peru and Morocco. There was an increase of 2.85 Mt (3.1 million st) in producers’ stocks from 7.45 Mt (8.2 million st) in crop year 2017 to 10.3 Mt (11.3 million st) in crop year 2018 (Table I).For calendar year 2018, Florida and North Carolina phosphate rock production accounted for 75 percent of the total U.S. production, with the balance being produced in Idaho and Utah. The Florida and North Carolina percent of U.S. production is declining. U.S. production of 25.7 Mt (28.3 million st) in calendar year 2018 was produced by five companies at 10 mines in four states and accounted for approximately 9.6 percent of the world production of 267.7 Mt (295 million st) for calendar year 2018 (Table 2).In calendar year 2018, U.S. phosphate production decreased by 2.2 Mt (2.4 million st), while companies increased stocks of phosphate rock by 1.7 Mt (1.9 million st). The domestic production for calendar year 2018 of 25.7 Mt (28.3 million st) represents 78.4 percent of the domestic production capacity of 32.8 Mt (36.1 million st).At present, China reportedly produces more than 50 percent of the world’s phosphate rock. As a result of planned expansions, Morocco production has increased from 27 Mt (30 million st) in 2017 to 33 Mt/a (36 million stpy), which is approximately 12.3 percent of the world’s production, moving ahead of the U.S. production. In calendar year 2018, the U.S. phosphate rock production was 25.7 Mt (28.3 million st), which is less than 10 percent of the world’s production of phosphate rock (Fig. 1)."

Aug 1, 2019

By Michel Carreau

Presentation topic Introduction to Renewable Power in Remote Mining Industry Trend What are the Challenges and How to address them Acceptability (Management Buy-in) ? RP not core business to mining company Significant upfront costs Project Risks - Technological and Delivery Wind and solar power variability Operating hybrid power (Operator Buy-in) Conclusion Introduction ? RP at Remote Mining Sites Mining Project Cost Energy represents 25% of mining project CAPEX Energy represents 25% of OPEX Diesel, HFO, ? cost : 30+ cents/kWh RP - Proven technology - Excellent track record ?Wind (20 years), Solar PV (10+ years)? Hundreds of GW installed ?Reliable, High availability, very small OPEX. ?Wind/Solar cost : 15 to 22 cents/kWh (with good resource) ?Potential 10% to 20% Reduction in net cost of energy ?Price certainty for 20 to 25 years

May 1, 2013