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Combination in the Mining Industry; A Study of Concentration in Lake Superior Iron Ore Production

Combination in the Mining Industry; A Study of Concentration in Lake Superior Iron Ore Production


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: been unable to foretell a year in advance when the increase of demand was going to cease; and therefore a periodic overproduction of iron has occurred, accompanied by a violent fall in price. The price decline thus effected has forced upon all iron makers the sharpest possible retrenchment, and among other reductions they have cut down the price of their raw materials, coke and ore. Accordingly, the price of both finished goods and ore, instead of declining steadily, has gone down by a series of steps more or less irregular, separated from each other by successive crises in the trade. The fact to be emphasized as the outcome of this entire discussion of price is that the ore-producer must face a condition of perpetually falling prices, quite irrespective of his particular cost of production. 4. Turning now to the second part of the theory, we observe that there is a constant increase in the natural cost of production, by which is meant the expenditure of energy which would be necessary to get out ore but for improvements in methods and machinery. Such increase is evident enough in the case of the individual mine. At first there were many hills in the iron region that were practically solid ore bodies. It was common to begin operations by blasting down huge masses from the ledges and carting them away. When, later, it became necessary to take the ore from a pit, it could still be hauled with a horse and cart, but only by going up an incline. This meant either smaller loads or more horses. The incline became longer and steeper as the mine was worked until it was impossible to get out the ore at all except by some kind of hoisting apparatus. At last the open-pit method of mining had to be given up altogether and shafts were sunk from which drifts were run out to gain th...


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Product Details
  • ISBN-13: 9780217817851
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 48
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 0217817858
  • Publisher Date: 07 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 104 gr


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