Back of any movement of this kind there must be popular interest
in popular education. Thus far, the greater publicity idea is of
more value than anything at hand. We may perhaps. best do our own
little part by offering some studies in the theory of mining,
showing just WHY it is risky, and just HOW we ought to tabulate
the risk. In addition to this, we can present, and should perhaps
first present, some of the results of intelligent mining as
pursued in other countries.
Take the Rand Mines of South Africa, operated on the English
basis--mines which turned out more than $12,500,000 in one month
not long since. The English method of operating on the Rand is
this: A corps of experts is sent to examine a proposed
property--that is to say, a proved prospect. If their report be
favorable, an estimate is made of the cost of a five-or
seven-compartment shaft, to be sunk, say, 3,500 feet. The cost of
producing a year's supply of ore for the mill is then considered.
The cost of the mill and the cyanide plant is also figured. The
total cost is then cast up, and the company is ready to be formed
for a half million to five millions of dollars, according to
existing conditions. This money is paid in, and is ready to start
operations. These men mine carefully, using all possible
scientific knowledge and practical experience as guides. The
operation may have risk, but it is perforce honest.