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Free Start-Up
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risk-free with your FREE unlimited trial account.
Place trades in all commodities 24/7. Receive 40 quotes with the click
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Gold! And Where They
Found It
Crash course in the history
and practice of gold mining in the western U.S. Includes -Chronology
of Gold in America; How to Pan for Gold; Tales of Gold Rushes;
Directory of Old Mining Camps. |
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Mining: Overview |
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Overview
Topics:
I Introduction
II Mining Properties
III Mining Markets
IV Investing
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Other Mining Topics
History
Underground Mining
Strip Mining
Deep -Sea Mining
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I INTRODUCTION
Clothing, computers, cars and even roads begin with mining. Everything
harvested, manufactured or transported requires minerals that come from
the earth. Without mining, the day to day things that are essential would
not be possible. Mining, in its broadest sense refers to the process
of obtaining useful minerals from the earth. Mining normally
involves the physical removal of rock and earth. The process
includes underground excavations in mines and surface excavations in strip
mines. Recent technological developments may soon make economically
feasible the mining of metallic ores from the seafloor.
II PROPERTIES
Mining operations generally progress through four stages: (1) prospecting,
or the search for mineral deposits; (2) exploration, or the work involved
in assessing the size, shape, location, and economic value of the deposit;
(3) development, or the work of preparing access to the deposit so that
the minerals can be extracted from it; and (4) exploitation, the work of
extracting the minerals. The method chosen for mining will depend on
how maximum yield may be obtained under existing conditions at a minimum
cost, with the least danger to the mining personnel. The conditions
include the shape, size, continuity, and attitude of the ore body; the
mineralogical and physical character of the ore, and the character of the
wall rock or overlying material; the relation of the deposit to the
surface, to other ore bodies, and to existing shafts on the same property;
the skill of available labor; and regional economic conditions. These
variables are interdependent and of varying importance, but maximum profit
and maximum extraction are closely related, because a method that
sacrifices part of the ore body often yields maximum profit. In view of
these considerations, open-pit mining tends to be more economical than
underground mining, except in regions where climatic conditions are so
severe that surface mining is often impossible.
In addition to the conventional methods of
mining, methods of deep-sea mining were devised in the 1970s using modern
technology. The United Nations Convention on the Law of the Sea,
adopted in 1982 over U.S. opposition, holds that coastal states must share
with the international community the revenue they derive from deep-sea
mining outside their territorial waters. This law is not yet in
force.
III MARKETS
Mining has been a cornerstone industry for many countries. The
discovery of large deposits of minerals has been an important factor in
stimulating economic growth in many areas throughout the world. New
research on ultra deep level mining technologies, including a more
imaginative approach to the use of robotics, and underground milling are
also providing a new upside potential for increased mining. For
instance, the present phase of mining over the past century has only led
to the extraction of between 30 and 40% of the estimated volume of
available gold. Recent quantum breakthroughs in new technologies
could still lead to considerable volumes of gold being produced.
IV INVESTING
Despite the fact that mining can be considered a "mature" industry,
considerable opportunities still exist for new discoveries. The fact that
huge deposits are still being discovered and that new mines are still
being developed shows that the potential is far from exhausted.
Besides the investment opportunities for gold, diamonds and the platinum
group elements, a number of world class deposits also exist which are
likely to be developed over the next decade. These include large
zinc-lead deposits as well as extensive fluorspar deposits.
Development of these deposits is presently still constrained by
technological and market factors. The same essentially applies to
significant undeveloped iron and manganese ore deposits.
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Mining in World History
Deals with the history of
mining -drawing out, the interplay of personalities, politics and
technology that have shaped the metallurgical industries over the last
500 years. |
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Learn to invest
Guides, home study courses,
books seminar & more trading info. |
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