Henry Smith Munroe

Summary

Henry Smith Munroe 1911 Encyclopædia Britannica (1911)

In many instances, indeed, profits are more or less uncertain during the whole life of the mine, and it is evident that the value of the mining property must be more or less speculative. In the case of a developed mine its life may be predicted in many cases with absolute certainty—as when the extent of the mineral deposit and the volume of mineral can be measured. In other cases the life of the mine, like the value of the mineral, is more or less uncertain. Further, both time and money are required for the development of the mining property before any profit can be realized.
Source: Wikisource

Henry Smith Munroe 1911 Encyclopædia Britannica (1911)

It is, however, often advisable that the money spent in surface or underground exploration should at the beginning be spent for information alone. The information so gained not only determines the value of the deposit, but also serves to indicate the best methods of development and of working. The money so spent, if judiciously used, insures the undertaking against loss by diminishing the mining risk, and is thus analogous to premiums paid to insure against fire or other sources of loss.
Source: Wikisource

Henry Smith Munroe 1911 Encyclopædia Britannica (1911)

The principal item in mining cost is that of labour, which is expended chiefly in breaking down the mineral, either by the use of hand tools or with the aid of powder. Labour is also expended in handling the mineral in the working places and in bringing it to the mine-cars in which it is brought to the surface. Narrow and contracted working-places are to be avoided, as in such places the cost of breaking ground is always large. Economy in handling makes it desirable to bring the mine-cars as near as may be to the point where the mineral is broken.
Source: Wikisource

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