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By Robert O. Vernon

The discussion of water and pit mining together is most appropriate. In fact, water can be considered a mineral and a well a narrow pit. Thus, of all the mineral resources mined, water is probably the cheapest, most valuable and least valued. The delivered price, including mining, transportation, storage and marketing rarely exceeds ten cents per ton, and our economy would cease without it. The time has come when the public must recognize that the extraction of a mineral resource from the land is a necessary and inevitable result of the industries? attempt to meet the demands of a growing economy. In so much of Florida, the lands mined can, with forethought and planning, be left as improved real estate, water conservation and management lands. On the other hand, the mining industries must face up to the need for the reclamation of land and compact with themselves, appropriate governmental agencies and with the mining states to restore mined lands to usefulness. Of limestone, sand, and clay 90 to 100 percent of the mined material is used, but with planning and specing, these pits, if they penetrate the water table, become valuable as real property. Phosphate, which returns about 70 percent of the mined materials to the pit, can reclaim the land for many purposes.

Jan 1, 1966

By P. Rusin

Many oxide silver and molybdenum deposits remain undeveloped because chemical extraction yields poor recoveries or is environ-mentally unacceptable. Bio-reductive leaching of such ore samples at MBX resulted in high recoveries of silver and molybdenum. When baseline 3-day cyanide bottle roll tests were conducted on manganiferous oxide silver ore, 13.7% of the silver was extracted. In contrast, 86% of the silver was microbially solubilized into the organic growth medium by bio-reduction with 99.8% dissolution of manganese. A follow-up cyanide bottle roll test yielded an additional 8.5% silver recovery for a total recovery of 94.5%. Baseline 3-day acid bottle roll tests of the iron oxide molybdenum ore yielded 1.8% moly. However, bio-reduction solubilized 93.3% of the moly into the growth medium. An additional 0.3% moly was recovered during the follow-up acid bottle roll test. Microbial treatment of refractory oxide ores with bio-reductive bacteria resulted in higher recoveries of silver and molybdenum than conventional chemical leaching. The bioleaching process occurred at a near-neutral pH at ambient temperatures. The bacterial solubilization of silver and moly was achieved without the use of cyanide or sulfuric acid.

Jan 1, 1992

By Preston McGrain

Geologic maps are indispensable tools in the modern search for mineral and fossil-fuel resources. They are the first essential step in understanding the lithologic nature and structure of rock units that form the land surface and that lie beneath it. They provide the basic foundation for planning mineral resource exploration programs and form the superstructure from which subsurface investigations are projected. In view of the economic application of such maps, the Commonwealth of Kentucky and the Federal Government entered a formal agreement in 1960 to map Kentucky geologically on a scale of 1:24, 000, or one inch map distance equals 2,000 feet on the ground. A 7. 5-minute quadrangle would comprise the unit map area. A resolution which urged the preparation of a new geological map of the entire State was passed by the Kentucky Society of Professional Engineers in February 1959, and was presented to the Governor of Kentucky, the Legislative Research Commission, Kentucky Department of Economic Development (now Department of Commerce), Kentucky Chamber of Commerce, and Kentucky Geological Survey with a request for support and action. The request was subsequently endorsed and actively supported by numerous civic and professional societies as well as representatives of various facets of Kentucky government, commerce, and industry. Monies to initiate the program were appropriated by the next session of Kentucky legislature; this appropriation was matched by federal funds (Hagan, 1961). Kentucky's state-wide topographic mapping project was completed in 1956, just four years prior to starting the geologic mapping program. The recently completed modern 7. 5-minute, 1:24,000 topographic maps made ideal bases for plotting areal geology. Had they not been available, it is doubtful if a geo- logic mapping program so large and comprehensive could have been undertaken.

Jan 1, 1966

By Meghan M. Murphy, Derek Penrice

The Downtown Rail Extension (DTX) is principal element of the planned second phase of the Transbay Joint Powers Authority’s (TJPA) Transbay Program. When complete, this regionally critical project will connect Caltrain’s regional rail system and the California High-Speed Rail Authority’s statewide system to the Salesforce Transit Center in downtown San Francisco via a 1.3-mile tunnel. Studied since the 1970s, the DTX has now received environmental clearance, and key stakeholders are aligned on the project’s configuration and its expedited delivery. This paper describes efforts to optimize the DTX configuration and develop an informed project delivery strategy that incorporates construction industry feedback on project phasing, contract packaging, and procurement methods that accomplish the project’s budget goals.

Jun 13, 2021

By Richard D. Nichols

A new method of slaking lime has been developed by DENVER EQUIPMENT DIVISION of Joy Industrial Equipment Company and patented under U. S. Patent 4,261,953. The new method utilizes an attrition machine, commonly used in mineral processing circuits as a sand scrubbing device, to slake lime. The scrubbing effect of the attrition slaker continuously produces a fresh reactive surface so that further slaking may occur. This process allows for utilization of slaking all grades of burnt lime and most grades of dolomite lime. Testing indicates that poor grades of water usually not considered for this service can now be tolerated using the attrition slaker. The slaked lime produced is of higher quality, faster reacting and much less apt to produce scaling problems than previously experienced. The attrition slaker can be combined with a spiral classifier and ball mill to eliminate any need for grit handling or grit removal. The attrition slaker can be designed for all burnt lime tonnages up to the limit of 175 tph and 1" pebble lime size. Control can be maintained easily with minimal operator assistance. The equipment, the principals of process metallurgy, and the above topics will be presented.

Jan 1, 1982

By J. R. Pennington

The town of Green River, Wyoming, is located along the Green River on an arid plateau at a elevation of 6,300 feet. Green River has become the center of a booming soda ash industry. The rapid development of coal, oil, and gas resources, coupled with the soda ash boom, have created growth pains for the area. Green River and Rock Springs have experienced a 20-25% population increase in 1973 alone. However, public officials, business leaders, and local citizens are taking positive steps to ease the problems relating to housing, schools, medical services, and recreational facilities. What Is Soda Ash? Soda ash is one of the most widely used chemicals in the world. It is an important raw material in the manufacture of glass, paper, soap, petroleum products, metals, chemicals, pharmaceuticals, plastics, and a host of other items essential to every day living. In ancient times, soda ash was obtained from water solutions of various desert earths. Later, it was produced by leaching the ashes of wood and seaweed. For the past 100 years, it has been manufactured by the ammonia-soda process, which employs large quantities of salt, limestone, and coal as raw materials.

Jan 1, 1974

By M. Li, J. K. Thompson, A. S. Azman

Powerful mining systems typically generate high-level noise that can damage the hearing ability of miners. Engineering noise controls are the most desirable and effective control for overexposure to noise. However, the effects of these noise controls on the actual hearing status of workers are not easily measured. A tool that can provide guidance in assigning workers to jobs based on the noise levels to which they will be exposed is highly desirable. Therefore, the Pittsburgh Mining Research Division (PMRD) of the U.S. National Institute for Occupational Safety and Health (NIOSH) developed a tool to estimate in a systematic way the hearing loss due to occupational noise exposure and to evaluate the effectiveness of developed engineering controls. This computer program is based on the ISO 1999 standard and can be used to estimate the loss of hearing ability caused by occupational noise exposures. In this paper, the functionalities of this software are discussed and several case studies related to mining machinery are presented to demonstrate the functionalities of this software.

Jan 1, 2016

By W. T. Robertson

My charge is to review briefly "Coal In The Electric Utility Industry - Present and Future." Thus, I will not dwell on the overall energy picture, other than to express what most others involved in the energy picture know - we're in trouble! Several years ago, speaking to another engineering society, I said, "Much has been and yet will be said and written about the energy situation in our Country." What an understatement! The energy question has reached crisis proportions and is a top priority item at the highest level of government, Unfortunately, it will be in that situation for some time to come. Many factors created this complex problem, and we all share some of the blame. But I am perplexed when I read in the popular press that environmental factors are unrelated to the energy crisis when I know this to be untrue. In the recent past all forms of energy have been cast in the role of villain, particularly coal with its problems of surface mining, mine safety, acid water drainage, sulfur content, and a multitude of other adverse factors relating to the environment in one way or another. As you know, the sulfur situation has led to the closing of numerous mines, resulting in the lessening of our mining capacity. Today, along the Eastern Seaboard, 60 to 70 million tons of coal are displaced by imported oil, primarily to meet air standards. Even in the Midwest, utilities sitting on enormous coal reserves are converting to other fuels or hauling low sulfur coal thousands of miles from the western Mountain States. [We will hear more about this coal from another speaker on the program this morning.]

Jan 1, 1973

Despite two large projects represented in the keynote docket, the mood of the 2011 SME Arizona Conference was summed up best by Ferol Baker, general manager of New Mexico Copper Corp. (a wholly owned subsidiary of Themac Resources Group), ?In the past, it seemed like you couldn?t go to a conference like this without hearing about one big new greenfield project after another. Now what you see is companies doing internal expansion or small-scale brownfield development.? Overall, the tone of this year?s meeting, held at the J.W. Marriott Resort at Starr Pass in Tucson, AZ, was upbeat, yet practical. From the keynote and luncheon addresses to the six panels of sessions, the projects described were positive about the future, yet focused on the details required to make those projects come to fruition.

Jan 1, 2012

By D. C. McLean

Early studies in the carbonate leaching of uranium ores led to the investigation of pressure leaching as a method to enhance the dissolution of the metal values in this system. The initial investigations conducted at the University of British Columbia supplemented by the work done by the group at the A.E.C. Grand Junction pilot plant, all established the higher efficiency and better economics of the alkaline pressure leaching system. This work was conducted either in laboratory autoclaves using oxygen overpressures, or in pilot plant sized horizontal autoclaves with air as an oxidant. Both of these testing vehicles utilized agitation provided by relatively high speed impellers (300 to 700 rpm), which apparently enhanced the oxidation of the uranium to the hexavalent state. The installation of vertical autoclaves on a production scale, which through design considerations require relatively slow agitator speeds (68 rpm), led to the studies of the utilization efficiency of the air addition and the use of catalytic type oxidants to effect a greater usage of the oxygen added through the aeration system. In addition to investigating the effects of the chemical additives, studies were also conducted on the effect of different impeller configurations on the extraction of uranium, which in itself is a measure of oxidation efficiency. The material presented in this paper was compiled in the Ambrosia Lake district of New Mexico, and the majority of the data was obtained in the Homestake- Sapin Partners mill, located at Grants, New Mexico.

Jan 1, 1960

By William F. White

It is a pleasure to have the opportunity of being here today to discuss the application of horizontal filters in the metallurgical industries. The use of horizontal type filters has been limited in metallurgical plants. However, in the recent past there have been new designs of this type equipment which greatly broaden their field of application. Through their use in many applications, important economies can be achieved over more conventional methods. The first of the modern continuous horizontal filters was initially developed by Oliver United Filters as their scroll type horizontal filter. This was an outgrowth of the old Oliver Sand Table that was limited to very coarse, free filtering pulps containing no appreciable amount of fine particles. The sand table was rather limited in application. The later continuous scroll type horizontal filter provided for a reverse air blow after discharge which reslurried the heel remaining and permitted the filtration of pulps containing finer particles. In the manufacture of phosphoric acid by the ?wet? process, the filtration of gypsum from the strong acid presented an extremely difficult filtration problem due to blinding of the filter media caused by crystallization of the soluble salts contained in the acid. A filter which allowed for continuous cloth washing was required, and this led to the development of the continuous pan type, and travelling belt type horizontal filters which provided for this need. Among the filters developed were the Prayon by Engineering and Industrial Corporation of Luxembomg for use in their phosphoric acid plants. They are one of the largest manufacturers of phosphoric acid in Europe. The Dorr-Oliver Traveling Pan Filter was also developed by Mario Giorgini, Manager of Dorr-Oliver?s Italian subsidiary, for use with the Dorr Company?s phosphoric acid process. Basically, there are four existing types of horizontal filters in commercial use at this time: The scroll discharge non-pan type, the continuous belt type (Lurgi), rotary pan type, and the traveling belt type. The construction and principle of operation of these various filters will be discussed.

Jan 1, 1958

By Randall J. Weege

Nickel laterites throughout the world are similar in their gross aspects, but vary significantly in detail. The deposits occur in two separate and distinct geologic settings --those formed over ultramafic rocks which were mechanically emplaced, and those formed over ultramafic rocks that were intruded as melts. The source of the primary nickel in the parent rock may occur both as ionic replacement in silicate lattices and as nickel sulfides. Factors controlling the degree of laterization and nickel enrichment are dependent upon the parent rock characteristics as well as chemical and climatic conditions. Two chemically and physically distinct zones (oxide and saprolite) are commonly present in the laterized rock, but one or the other may be extremely thin or absent. Cobalt and copper may be present in recoverable amounts. Geologic, geophysical and geochemical methods are all utilized in exploring for these deposits. These methods are compared, evaluated and illustrated in the paper. Drilling patterns and ore reserve calculations are also discussed. In contrast to many ore deposits, processing costs are much higher than mining costs. The most efficient processing method is directly dependent upon the chemical composition of the ore. This variation in the chemical and physical characteristics of nickel laterites requires a detailed test program of the metallurgical response to representative samples and blends of ore. Detailed laboratory and bench-scale metallurgical tests are necessary prior to a full scale pilot plant test.

Jan 1, 1978

By William Gleason

"During the past nine years the number of cellular phones connected to a network has increased from 34 percent of the world’s population in 2005 to 93 percent in 2014. These phones are powered by a combination of materials including elements such as gold, silver, copper and rare earths. And, as more parts of the world become connected to networks, the number of phones being produced, and the elements they will need, will continue to increase. The demand comes as prices for these commodities are slumping and access to the commodities is getting more difficult, technically and socially.These mobile devices have connected people around the world in ways that could not have been imagined two decades before, and, ironically, this communication has strengthened opposition to the development of the mines that produce the very materials they need to operate.In his keynote address to the 2014 SME Arizona Conference at the JW Starr Pass Resort in Tucson, AZ, on Dec. 8, 2014, John O. Marsden, SME President and president of Metallurgium, spoke to more than 500 attendees about the challenge to produce the materials that society needs while at the same time challenging the general public’s perception of mining that is often inaccurate and less than favorable.Marsden highlighted the amount of raw materials that will be needed not just for phones, but also for things such as automobiles, including electric cars, as a way to illustrate the importance of mining. Even so-called green products such as Tesla cars, which require about 317 kg (700 lbs) of aluminum, 13 kg (30 lbs) of copper and 36 kg (80 lbs) of cobalt for their eco-friendly batteries, will need materials mining provides.These are some of the numbers that the general public is often unaware of. They are part of the necessary things that mining provides for society but are rarely reported on. Instead, it is the accidents like the tailings spill at the Mount Polley Mine in British Columbia and at the Buena Vista Mine (Sonora, Mexico) that grab headlines and stick in the minds of the public, adding more challenges to an industry that already has its own complex technical challenges to deal with."

Jan 1, 2014

By Theodore M. Olson

The Washington State Highway Department consists of seven geographic dis¬tricts. District offices are located in Seattle, Wenatchee, Olympia, Vancouver, Yakima, Spokane and Bellevue. District is covered from the Spokane office, and is responsible for the six counties in the northeast corner of the state (Fig.l). It is bordered on the north by the International Boundary, on the south by the Snake River, on the east by the Washington - Idaho border, and on the west by a north-south line thru Lake Roosevelt. The landslides to be discussed in this paper are at Colfax, Washington, which is located in the southeast corner of the district. The town of Colfax is situated in a narrow valley eroded into the Tertiary volcanic basalts by the Delouse River. The valley walls are steep and generally colluvium mantled. State Highway 1°c, from Spokane to Colfax, descends into the valley from just north of Colfax on a bench cut into the valley wall. The highway department designed a widening project to increase the misting two lane roadway to three lanes, thus providing a passing lane for uphill traffic. The third lane was constructed as a cut section for the entire length. Construction excavation was begun at the top of the hill in silts of eolian origin. Proceeding downhill, excavation encountered three individual basalt flows with two zones of palagonite tuff separating them. The upper palagonite zone was dry, and excavation proceeded across this zone with no mishaps. The lower palagonite zone carried considerable groundwater. As excavation crossed the lower zone landsliding became contemporaneous with excavation, due to removal of toe of slope and saturated conditions. Remedial measures for landsliding consisted of designing shot rock buttresses across the palagonite zone and also the installation of horizontal drains to reduce hydrostatic pressure.

Jan 1, 1971

By R. C. Gilmore, A. Juganda, Jr. Bogin, S. Saki, S. A. Lolon, J. F. Brune, Jr. Zipf, J. W. Grubb

"Methane-air mixtures form explosive gas zones (EGZs) in underground longwall coal mine gob ventilation systems. Such EGZs have caused a number of fatal mine explosions, including the 2010 disaster at the Upper Big Branch mine, where 29 miners lost their lives. Researchers at the Colorado School of Mines use Computational Fluid Dynamics (CFD) modeling to predict EGZ locations. In this paper, a model of a bleeder-ventilated gob system includes two adjacent panels, an active longwall and a mined-out gob. Boundary conditions for the simulations match statutory ventilation conditions for methane concentrations and air flow rates at common measurement points throughout the mine. The modeling results predict the persistence of EGZs in the gob that may compromise the effectiveness of the bleeder ventilation system. INTRODUCTION Mine operators must maintain statutory air flow and air quality requirements at various locations throughout the mine ventilation network. U.S. regulations generally require mine operators to establish bleeder ventilation systems surrounding longwall gob areas (30 CFR §75.334.) Gilmore et al. (2015) documented that explosive gas zones (EGZs) exist within bleeder-ventilated gobs and may extend into the bleeder entries that must be examined weekly, presenting an immediate fire and explosion hazard to mine examiners. In a project funded by the National Institute for Occupational Safety and Health (NIOSH) under contract 200-2009-31409, researchers at Colorado School of Mines have developed a tool for modeling gob air quality using Computational Fluid Dynamics (CFD). This CFD model is capable of examining a wide range of longwall mine ventilation systems. Marts et al. (2014a, 2015) studied progressively sealed gobs with U-type ventilation and using a back return. Saki et al. (2015) examined the impact of gob ventilation boreholes and face air quantity effects on tailgate methane concentrations. Gilmore et al. (2014) modeled bleeder-ventilated gobs and Gilmore et al. (2015) studied the effects of bleeder regulator settings on EGZ volume and locations in the gob. CFD studies for progressively sealed gobs were generally carried out using 5000 ft (1500 m) panels because the gob atmosphere remains largely unchanged from about 500 m (1,500 ft) inby the face. A modular meshing methodology (Gilmore, 2015) permitted researchers to extend bleeder models to 10,000 ft (3050 m) to include the full extent of bleeder entries. This paper further expands the bleeder CFD model to study the gob atmospheres of two adjacent longwall panels, each 10,200 ft (3100 m) in length, with the active face located 6,700 ft (2040 m) from the startup room."

Jan 1, 2016

By T. Hollenberg, N. Nolten

The mining industry is one of the major energy consumers in Namibia. Energy costs increase the operating costs of Namibian mines, in particular, the processing plants, and result in an overall increase of production costs. A substantial part of the energy used is directly imported from South Africa. The cost of energy has been increasing rapidly in the past few years and will most likely continue to do so in the future. In 2015, the average wholesale price for energy from national power utility NamPower was US$87/MWh after rising more than 12 percent annually in the two previous years. At peak times, which are early in the morning and late in the evening, imported-energy prices are extremely high and have to be factored into the electricity tariffs. This problem is expected to intensify due to a projected 4 percent annual increase in energy demand. A major target of the Namibian mines, therefore, is to consider possible ways to address energy-saving challenges and to investigate possibilities for the mines to generate electricity internally during peak times. This is in alignment with the mines’ strategic plans and objectives to reduce total energy consumption and costs from both national and foreign electricity suppliers. In this paper, we explore addressing some of the key energy consumption and optimization challenges through process energy reuse and solar energy production to decrease demand for imported energy through a case study carried out in cooperation with Skorpion Zinc Mine and Refinery.

Jan 1, 2018

By Raymond E. Kary, John W. Mcklveen

The four unit Cholla coal fired power station at Joseph City, Arizona, consumes coal from the McKinley mine located in western New Mexico. Since coals may contain relatively high uranium or thorium concentrations and may release quantities of detrimental progeny of these elements to the environs, there is concern that releases may pose an adverse environmental impact or even a health hazard to the workers. Thus, an effort was made to quantify the radionuclide content of the coal and compare the results with radionuclide concentrations already present in the vicinity of the plant. Additionally an attempt was made to assess any potential for significant enhancement of the levels of radioactivity in the environment or to plant personnel. Background gamma radiation measurements at and near the plant ranged from 8 to 12 [µ]R/hr (70 to 105 mR/yr) with a few localized anomolies measuring to 18 [u]R/hr (160 mR/yr). Levels on top of the coal storage piles decreased to ~ 6.5 [u]R/hr (60 mR/yr). Apparently the direct radiation emitted from the coal is less than the background levels in the vicinity of the plant. Measurements performed on top of several coal seams at the mine confirmed low radiation levels emanating from coal, but readings more than doubled when the overburden was monitored. Laboratory gamma spectrometry confirmed the lower amounts of natural radioactivity in the coal when compared against soil and water samples obtained in the vicinity of the plant and the overburden at the mine. In an effort to see if there is biological enhancement, animal feces was sampled. The radiation variations were found to be influenced primarily by naturally occurring potassium-40 which varied from ~ 1 to 18 pCi/gm rather than fluctuations in the uranium and thorium series. The potassium-40 concentrated in the ash were similar to the concentrations in the environs around the disposal ponds while Radium-226 concentrated in the fly ash was ~ 3 times that found in the immediate surroundings. Radon-222 gas concentrations in buildings at or near the plant ranged from 0.5 to 1.8 pCi/l and were generally lower than indoor concentrations measured in the Phoenix area. The burning of coal at the Cholla station does not appear to increase ambient levels of radioactivity found in the surrounding environs or to the workers. However, the use of byproduct fly ash for construction purposes may need to be examined.

Jan 1, 1981

By M. Board, C. Alexander, M. Ramström, W. Johnson

"Hecla - Lucky Friday is an underground mine that has been in operation for 75 years and produces from depths over 2.3 kilometers (7,500 ft) below the surface. Technical issues at this depth include high rock temperature and seismicity. The use of new innovative mechanization is being examined for ore production. Principal advantages of mechanization are the reduced exposure of personnel, reduced seismic triggers, and increased efficiency. Lucky Friday has partnered with Atlas Copco to design, build, test, and deploy a mechanical miner for primary ore production. We will discuss the background, concept, development and deployment strategy for a mechanical miner. BACKGROUND The Coeur d’Alene mining district in northern Idaho was first discovered over 130 years ago and has been the most prolific silver producer in the US. The Lucky Friday mine of Hecla Mining Company (Figure 1) is the oldest (76 years) and deepest mine in the district, producing approximately 725 tonne per day (800 tons per day) from narrow, vertical lead-zinc-silver veins. Cut and fill stoping is currently employed at depths to about 2.3 km (7,500 ft) below ground surface, making it one of the three deepest mines in the western hemisphere. The #4 Shaft, a winze collared at approximately 1.8 km (5,900 ft) below surface and extending to a depth of nearly 2.9 km (9,600 ft), was recently completed to exploit the high-grade 30 Vein, whose resource has been identified to at least 3 km (9,700 ft) in depth.As with other deep mines worldwide, a number of challenging engineering issues occur, including: high in situ rock stress, squeezing ground, seismicity, high in situ rock temperature that requires refrigeration, diesel equipment that generates diesel particulate matter (DPM) requiring high ventilation airflow rates, and long travel times for worker transport to mining areas."

Jan 1, 2018

By G. M. Wilemon

The U.S. Bureau of Mines has conducted preliminary investigations on the leaching of phosphate ores obtained from deposits in the western United States using sulfuric acid (H2SO4) in the presence of methanol. Phosphate extractions in excess of 80 pct were obtained on an ore sample from Pocatello, ID. Initial leaching studies using the ore as received yielded extraction levels of approximately 35 pct. However, when the sample was ground for as little as 5 min in a rod mill, in methanol, then treated with HzS04, 82 pct extraction was achieved. The R2O3-P2O5 (R2O3 = Al2O3 + Fe2O3) ratio of the starting material was 0.11. Solubilized products after leaching exhibited an R2O3-P2O5 ratio of 0.02, which is well within desired limits. These results illustrate the potential of acid-alcohol leaching for recovering phosphate values from marginal-grade ores and as an alternative to methods involving current beneficiation techniques that yield lower phosphate recoveries.

Jan 1, 1992

By Charles Bruce

Three years ago, at a reception given during the Steel Institute meeting in New York, I heard the remark, "A new formula must be found for foreign investment." This was immediately following the takeover of U. S. Steel's Matilde operation in Bolivia. Recently, at the World Mining Congress in Lima, Peru, the subject of foreign investment was still a lively topic of conversation. The nationalization of the copper mines in Chile and recent trends in the "Third World" have made all but a few extremely wary of investment anywhere other than in the ?stable? countries. Now, the fallibility of this philosophy has been demonstrated in such "stable" countries as Canada, Australia, and Ireland. Yet, nationalization is not new to us. The events in Chile were classified as disastrous to the affected companies, but so were the effects of nationalization to the majors in Bolivia in 1952. Mexicanization of the mining industry in Mexico was considered impractical by many. Now, those who accepted it are finding it to be workable.

Jan 1, 1975