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Without having asked for it, the writer has apparently been drawn into the discussion regarding relative hoisting capacities which was started by Woodward Iron, egged on by Joe Haller of Cleveland-Cliffs [Mining Engineering, August p. 642] and Axel Kjelgaard [November p. 919], who took exception to Mr. Haller's remarks of tonnage hoisted and avers that they do better in Sweden. It does not appear to the writer that Mr. Haller was inclined to refer to the tonnage hoisted at Cleveland-Cliffs in a manner to imply that they claimed any hoisting record, but rather as a statement that they had hoisted a certain amount of ore during the year 1950. Mr. Haller has been in the mining game long enough to appreciate what Mr. Kjelgaard did not apparently take into consideration, that length of haul, shifts hoisted, nature of ore, method of loading and the many other factors which influence the hoisting cycle make a comparison of tonnages hoisted of two given mines almost an impossibility. Mr. Cheyette sent you .a copy of his letter to Bob Manegold relative to the capacities of the Orient #2 mine. There are several mines around the Country which constantly set up records about which little or nothing at all is ever heard. We cite the Snow Hill Coal Co. mine at Terre Haute, Ind., which has an automatic Nordberg hoist and which hoists 12 tons per trip or 700 tons per hr from 700 ft. This is a counter-weighted installation and a complete cycle is made every 62 seconds or 58 trips per hr. Another mine, The Potash Company of America mine at Carlsbad, N. Mex., has a Nordberg automatic hoist, hoisting eight tons per trip from 1150 ft on a one minute cycle. The materials hoisted in these two mines are ideal for automatic hoisting-they are free flowing so that no hang up is anticipated and hoisting is continuous. Multiplying out the above figures you will find that it is possible to hoist 11,000 tons in two shifts at Snow Hill or over 3 million tons in 300 days per year and over 2 million tons at Potash. Other mines have records which can be pointed to with pride. When a record for one year is established, it doesn't stand too long as here in America the ambition of all the men connected with the operation forces them on to larger tonnages. T. C. WIEDENHOEFER MANAGER MINE HOIST DEPARTMENT NORDBERG MANUFACTNRING CO. MILWAUKEE, WIS.

Jan 1, 1952

By John F. Havard, Armine F. Banfield

Sooner or later, we all get involved in the economic study and valuation of a mineral deposit. To communicate clearly the necessary information, we must scrupulously use various terms with specific meaning. All these terms-such as ore, exploration, development, production, reserves, proven ore, probable ore, possible reserves, resources, as well as similar terms applying to coal-are continually on the lips of anyone who reports on the economic aspects of a mineral deposit at the exploration, development, and production stages. The meaning of these terms is even more important in feasibility studies to determine whether a deposit should be put into production. Finally, careless use of these terms in reports published for public financing may, and sometimes does, lead to prosecution of the writer for misleading information.

Jan 7, 1975

By Frank R. Milliken

Before the rather sudden economic downturn in recent months, shortages of materials were painfully felt throughout the US. The current recession has provided a temporary relief here and there-but energy fuels and a number of staples such as sugar are still in short supply. This is an unsolved and fundamental problem that will haunt us again as the economy turns up. There is an awareness that the nation faces a widening supply gap in many of its most basic materials-from asbestos to tungsten-as evidenced by recent studies and government reports, and by the Secretary of the Interior's annual warnings about the mounting seriousness of the problem.

Jan 3, 1975

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Jan 1, 1938

By Rodney G. Ravenscroft

Leasing is not a new phenomenon. Experts have identified its origins as early as biblical times. It is a method of finance that has grown rapidly and is now used in most countries, including those of South East Asia, South America, the Middle East and even the People's Republic of China. Internationally, the leasing world divides fairly easily into two groups and this is determined, by and large, according to whether a country has Anglo-Saxon origins or not. Most of the Anglo-Saxon countries have seen tax-oriented leasing become a sophisticated means of financing the acquisition of large and costly items of equipment and large projects. Countries such as France, Spain and Japan have a highly developed leasing industry but it is not tax-oriented. This paper will not address leasing of this kind. LEASING - THE CONCEPT Wide acceptance of leasing as an alternative for financing capital equipment has grown with the recognition by the users of equipment that it is use and not ownership that generates profits. Whilst this seems obvious, memories of repossession of assets during the Depression and attitudes towards leasing as "last resort financing" have raised strong philosophical resistance that has only recently begun to be overturned. A financial lease is a commitment by way of contract between a user of equipment (lessee) and a financial owner (lessor) under which the lessee makes a series of payments in return for use of the equipment. The lessee is acquiring economic value associated with ownership but not ownership of the equipment itself - that remains with the lessor. A lease is a method of financing the use of an asset; other methods finance the assets themselves. It is the taxation aspects that then become important. The lessee is giving up some or all of the taxation benefits of ownership such as depreciation and investment tax credits. The lessor claims these benefits, as he is entitled to do as owner, and takes them into consideration when determining the level of lease payments that are necessary to generate his required rate of return. These lease payments are, of course, lower than they would have been without those taxation benefits. The lease payments themselves are fully tax deductible. This is tax shelter leasing. The lessor is acquiring taxation deductions that are applied fully and immediately against his other taxable income so as to reduce the amount of tax he is to pay to the revenue authorities. It is this concept that makes financial leasing work. Governments provide incentives by way of tax concessions to encourage capital investment. Governments presume that prudent capital investment will offer employment opportunities, generate sales and streamline economic activity. These, in turn, will lead to the collection of government revenue. It makes no difference at all whether these incentives are claimed by a commercial or industrial owner/user or by a financial owner who makes equipment available for use by industry. Rather, the issue is to ensure that if an incentive is available, it is used so as to achieve its desired results. No greater or lesser incentive is available for leasing and leasing does not misuse the taxation aspects of equipment ownership. The critical issue is whether the full value

Jan 1, 1985

By AIME

Lewis E. Young, who will formally assume his duties as President of the AIME at the Annual Meeting in San Francisco in February 1949, was born in Topeka, Kansas, Oct. 1, 1878. Dr. Young received his engineering education at the Pennsylvania State College, where he received the degree of B.S. in Mining Engineering in 1900. In 1904 he received his E.M. degree from Iowa State College, and in 1915 a Ph.D. from the University of Illinois. In 1947, the University of Missouri conferred on Dr. Young honoris causa the degree of Doctor of Engineering. His active career began in the educational field as instructor at Iowa State College, and following that, as professor of mining at the Colorado School of Mines, 1903-1907. While he was at Golden he launched hi: career as consulting mining engineer for various Western companies. Leaving the Colorado School of Mines, Dr. Young returned to Missouri, serving the University of Missouri as director of the School of Mines and Metallurgy at Rolla, 1907-1914. Leaving Missouri he went to the University of Illinois as assistant professor of business organization, 1915-1918, during which period he wrote exhaustive treatises on mine subsidence and mine taxation, which won for him the degree of Ph.D. before mentioned.

Jan 1, 1949

By T. D. Parris

Within a 30-mile radius of Sudbury, Ontario, the Ontario division of the International Nickel Co. of Canada, Ltd., operates nine underground mines and two open pits. Prior to 1966, ore removal from the underground workings was mainly by scraping, using 125-hp electric slushers in blasthole and caving mining, and 30-hp or less air-operated slushers for fill- method mining. The development and evaluation of low-profile, diesel-powered front-end loaders, designed specifically for underground operations, was followed with keen interest during the period 1964-1965.

Jan 6, 1969

Activity with the legislation proposing to liberalize War Minerals Relief Act has now started before the Committee on Mines and Mining of the House. They are considering House Joint Resolution No. 170, which brings out the fact that war minerals claims in excess of $15,000,000 had been filed but that a considerable portion of the claims are being denied because of the Attorney General's. interpretation of the Act. The resolution states that it was the intention. of Congress in passing the War Minerals Relief Act "that all producers of the minerals mentioned should be repaid such sums as they are in equity and good faith entitled." The Attorney General's opinion is that the request or demand must have been made on the claimant direct. The resolution provides. that all claimants "who in response to any personal, written or published request or demand from any of the Government agencies-mentioned-in said Act in good faith expended money in producing or preparing to produce any of the ores or minerals named-therein *-*-* and have heretofore filed their claims within the time and-in the manner prescribed in said Act" are to be reimbursed for the n t-losses-incurred.

Jan 12, 1919

By R. L. Wiegel

The two questions considered in this study are: (1) what similarity is there in the liberation of magnetite from various iron formations, and (2) how is this liberation affected by the size reduction technique employed. Twelve sample suites were obtained from commercial concentrators processing magnetite iron formation in the United States, Canada, and Australia. These samples have grades in the range 15 to 45% magnetite iron and approximate mineral grain sizes o f 50 to 2000 microns. Efforts were directed at measuring the liberation characteristics of the samples obtained from the concentrators primary grinding mills. The Davis tube, a laboratory magnetic separator, was used to concentrate individual size fractions of the size reduction product to determine liberation data. These liberation data were compared with relationships calculated from a highly idealized mathematical model of liberation in a binary mineral system. The results of these comparisons have been encouraging for nine or ten of the twelve samples tested. This leads to the conclusion that for most commercial iron formations, at least with conventional rod mill size reduction, it is possible to quantitatively characterize liberation with two parameters: an effective mineral grain size and ore grade. Limited laboratory size reduction tests as well as one of two sets of liberation data from commercial primary autogenous grinding lend some support to the contention that autogenous grinding can affect mineral liberation.

Jan 1, 1976

LIBERIAN ore has been called the richest iron ore mined in the world, and thus far, the output from the Liberian Mining Co.'s Bomi Hills mine has lived up to its reputation. Iron content has been variously given as 68.47 pct to 68.825 pct. A recent United Nations survey gave it first place, surplanting the previously top-rated Swedish product. The first shipment of Liberian ore to the United States reached Baltimore in June, 1952 and went into blast furnaces at Republic Steel's Cleveland plant, where excellent results were reported. The physical make-up of the ore was hard, dense lumps, free of fines and with ideal size distribution. The Bomi hills mines were scheduled to be in full operation by the end of 1952. At the close of 1951, 200,000 tons of ore had been delivered to Baltimore. Liberian Mining Co. states that production is about 90,000 tons of ore per month at present. Between 1200 and 1500 men are employed at the mine site, with about 25 pct of them Americans. The Bomi Hill project was financed with the aid of the Export Import bank, which loaned Liberia Mining part of the sum needed to initiate and put the development into production. No definite expansion plans are in the making but extensive diamond drilling is being pursued. Original estimates of annual production for Bomi Hills ran in the neighborhood of 1.5 million tons, but the figure is no longer applicable. Liberia's potential as an iron producing country has been known for a long time, but the physical obstacles in the way of large scale production were such as to prohibit even contemplation of the project. Until recent years, the only route from the mine site to Monrovia was a foot trail. Once to the coast, over swamps and unbridged rivers, the ore was still useless because of the lack of loading facilities. Transportation Solved One problem was solved with the completion of the artificial harbor at Monrovia. Harbor construction was well under way when the mine project began in 1948. The island location of Monrovia also made the building of a bridge across the St. Paul River necessary. The 980 ft reinforced concrete structure, accommodating railroad and vehicular traffic, was opened in 1949. Meanwhile, preliminary work on railroad construction started. Grading was completed quickly. In April, 1951, the first train made the trip from Monrovia to the Bomi Hills. About half of the cost of the entire project went into railroad construction. More than 2200 men, often forced to resort to primitive methods, were engaged in clearing a path through the heavy forests between the mine and port. Swamps were drained and filled, and bridges, including the William V. S. Tubman, named for the Liberian President, were constructed. At the port, a Robbins Conveyor Belt Co., orehandling plant was installed. Ships can be loaded from the stockpile at the rate of 3000 tons per hr and vessels need spend only one day in port. Liberian Mining is operating under an 80 year lease, giving the company exclusive mining rights to all minerals, except gold, platinum, and diamonds, within a 40 mile radius of Bomi Hills. The contract provides a fixed royalty to the Liberian Government of five cents per ton of ore extracted, and a premium -based on the New York market price for Bessemer-grade pig iron. The entire project started because an American,

Jan 1, 1952

By AIME AIME

THE graduating class whom I am particularly addressing are going into the world at least a month earlier than normal, because of the war. You have been free to choose your work. You have chosen to be mining engineers. The principal importance of your engineering education to date has been in teaching you how to think and how through books to have ready access to the accumulated experience of previous generations, as well as the current experience of the day. You should by now have acquired something of the engineering point of view, the open skeptical mind. the power to observe, experiment, and draw conclusions, form theories and test these by further experiment, and weigh the inherent probability of conclusions drawn by others. I am asking you today to consider certain facts and the conclusions I am drawing from those facts.

Jan 1, 1942

The Library of the above-named Societies is open from 9 A.M. to 9 P.M. on all week-days, except holidays, from September 1 to June 30, and from 9 A.M. to 6 P.M.. during July and August. The Library contains about 55,000 volumes, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library can render valuable service through correspondence; letters requesting information-will receive special attention. The Library is prepared to furnish references and copies of articles on mining and metallurgical subjects; to determine the existence of mining-maps, and to furnish general information as to the geology and mineral resources of all countries: All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape. The members of the Institute. can be of service to the Library by forwarding copies of mining-reports, maps privately issued, and similar material, which will he classified, indexed, and made available to other members. Suggestions for additions to the Library, either by purchase or personal solicitation as gifts, will be welcomed. It is hoped that members while in the city will use the Library freely, and assurance is given that most careful service will be rendered to them.

Jan 5, 1913

The Library of the above-named Societies is open from 9 A.M. to 10 P.M. on all week-days, except holidays, from September 1 to June 30, and from 9 A.M. to 6 P.M. during July and August. The Library contains about 55,000 volumes, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library can render valuable service through correspondence; letters requesting information will receive special attention. The Library is prepared to furnish references and copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information as to the geology and mineral resources of all countries. All communications should be made as definite as possible so that. the information received may he what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will he saved, and the information will be sent more promptly and in more usable shape. The members of the Institute can be of service to the Library by forwarding copies of mining reports, maps privately issued, and similar material, which will be classified, indexed, and made available to other members. Suggestions for additions to the Library, either by, purchase or personal solicitation as gifts, will be welcomed. It is hoped that members while in the city will use the Library freely, and, assurance is given that most careful service will be rendered to them.

Jan 8, 1915

The Library of the above-named Societies is open from 9 A.M. to 9 P.M. on all week-days, except holidays, from September 1 to June 30, and from 9 A.M. to 6 P.M. during July and August. The Library contains about 55,000 volumes, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library can render valuable service through correspondence; letters requesting information will receive special attention. The Library is prepared to furnish references and copies of articles on mining and metallurgical subjects; to determine the existence of mining-maps, and to furnish general information as to the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape. The members of the Institute can be of service to the Library by forwarding copies of mining-reports, maps privately issued, and similar material, which will be classified, indexed, and made available to other members. Suggestions for additions to the Library, either by purchase or personal solicitation as gifts, will be welcomed. It is hoped that members while in the city will use the Library freely, and assurance is given that most careful service will be rendered to them. .

Jan 11, 1913

The library of the above-named Societies is open from 9 A.M. to 10, P.M. except on holidays. It contains about 70,000 volumes and 90,000 pamphlets, including sets of technical periodicals and publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library, through its Library Service Bureau, can render valuable service through correspondence; letters requesting information will receive especial attention: The Library is prepared to furnish references and photographic copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information on the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape.

Jan 9, 1918

The Library of the above-named Societies is open from 9 A.M. to 10 P.M., except on holidays. It contains about 70,000 volumes and 90,000 pamphlets, including sets of technical periodicals and publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library, through its Library Service Bureau, can render valuable service through correspondence; letters requesting information will receive especial attention. The Library is prepared to furnish references and photographic copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information on the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape.

Jan 12, 1917

The. Library of the above-named Societies is open from 9 A. M. to 10 P. M. except on holidays. It contains about 70,000 volumes and 90,000 pamphlets, including sets of technical periodicals and publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library, through its Library Service Bureau, can render valuable service through correspondence; letters requesting information will receive especial attention. The Library is prepared to furnish references and, photographic copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information on the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape.

Jan 3, 1919

The Library of the above-named Societies is open from 9 A.M. to 10 P.M. on all week-days, except holidays, from Sept. 1 to June 30, and from 9 A.M. to 6 P.M. during July and August. The Library contains about 55,000 volumes, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library can render valuable service through correspondence; letters requesting information will receive special attention. The Library is prepared to furnish references and copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information as to the geology and mineral resources of all countries. All communications should be made as definite as possible so, that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape. The members of the Institute can be of service to the Library by forwarding copies of mining, reports, maps privately issued, and similar material, which will be classified, indexed, and made available to other members. Suggestions for additions to the Library, either by purchase or personal solicitation as gifts, will be welcomed. It is hoped that members while in the city will, use the Library freely, and assurance is given that most careful service will be rendered to them.

Jan 6, 1916

The Library of the above-named Societies is open from 9 A.M. to 10 P.M. on all week-days, except holidays, from Sept. 1 to June 30, and from 9 A.M. to 6 P.M. during July and August. The Library contains about 55,000 volumes, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library can render valuable service through correspondence; letters requesting information will receive special attention. The Library is prepared to furnish references and copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to .furnish general information as to the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape. The members of the Institute can be of service to the Library by forwarding copies. of mining reports, maps privately issued, and. similar material, which will be classified, indexed, and made available to other members. Suggestions for additions to the Library, either by purchase or personal solicitation as gifts, will be welcomed. It is hoped that members while in the city will use the Library freely, and assurance is given that most careful service will be rendered to them.

Jan 2, 1916

The Library of the above-named Societies is open from 9 A.M. to 10 P.M., except on holidays. It contains about 70,000 volumes and 90,000 pamphlets, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library, through its Library Service Bureau, can render valuable service through correspondence; letters requesting information will receive especial attention. The Library is prepared to furnish references and photographic copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information on the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is .desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape.

Jan 6, 1917