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By Forest Mintz

Many oil and gas producers find it advantageous to borrow against the value of their hydrocarbon re- serves. This paper considers the requirements for a reserve based loan and the calculations that a bank would perform to arrive at a loan amount. Three of the most common loan structures, i.e. a term loan, a production payment, and a revolving credit/term loan will be discussed. A typical outline for each type of loan is presented. Finally, a comparison of major considerations in the three financing techniques is shown.

Jan 1, 1982

By S. Terry, W. Callender, R. J. Cornelius

When a dry ball-mill grinding circuit was in- stalled at the pellet plant of Hamersley Iron Pty. Ltd., it was something of a pioneering venture, since this was one of the first instances where such a circuit had been applied to iron ore on a major scale. The Hamersley pellet plant is located in Dampier on the coast of Western Australia. The feed for it consists of -8mm fines produced as a screened product at the Mt. Tom Price mine 186 miles inland from Dampier. It was these fines that encouraged the choice of a dry grinding facility for the plant. At the outset, tests had shown that the fines could not be filtered satisfactorily with a wet grinding system. At the pelletizing plant, the fines are stockpiled, reclaimed, dry ground in ball mills, formed into pellets on balling discs, hardened on an indurating line, and stockpiled for shipment overseas. These operations are shown in Fig. 1.

Jan 7, 1969

By G. S. Rice

IT is evident from Professor Louis' remarks that he holds a different opinion on certain phenomena connected with a specific type of surface subsidence from mining than is held by many engineers in the United States. The question which appears to be at issue is whether or not the line or plane of "draw" produced in ground movement resulting from extraction of pillars may, under certain conditions, be vertical or even inclined toward the workings rather than inclined for- ward over the unworked mineral, as it is universally agreed occurs in mining by the longwall advancing method. In discussing this case it is well to take the simplest condition, such as specified by Professor Louis, of a flat bed, whether it be coal, iron or other mineral, where the overburden is stratified rock and where there is no overlying quicksand. Professor Louis says in effect that his experience is that the ultimate angle of draw is always positive and inclined 5" to 15" from the perpendicular over the unwrought mineral. My experience under Illinois coal-mining conditions is that .'where longwall advancing is used the draw is always positive as Professor Louis describes it, but that in extracting of panels by withdrawal of pillars, the ground movement is manifested, after the first roof' beam break, by the forming of an unstable dome over the goave. Then subsequently, by the falling of individual slabs from the under side, the dome gets larger and higher until it breaks through to the surface of the rock., Up to this time, arch stresses buttress the rocks above the solid coal or mineral. When, however, after. the dome breaks through and the central hole - #enlarges so the arch is no longer sufficiently supported -the stratified rocks cantilever out .from over the solid unworked mineral and tend to break off in masses triangular in vertical cross-section, until the broken loose material, sliding down against the solid rock, .has such a thrust that it balances the tendency ,for the solid stratified rock to break away and slide toward the excavation.

Jan 1, 1929

By Hal M. Lewers

IN the past few years and especially since the beginning of World War No. 2, gold has attained a new, important. and critical place in the international scene, and in world affairs. In the past, as far back as history records, most wars have been waged for the purpose of acquiring it from someone else by conquest. But now, the most titanic struggle of all time is being waged with the avowed purpose of not only destroying it, but of destroying all that it stands for and represents. A tradition dating back to ancient Rome, affirms that battles are fought by men with weapons, but wars arc eventually won by gold. The validity of that tradition is now being subjected to its major test. Hitler has proclaimed that in his new world order, the work dollar or reichsmark, a beautifully engraved paper currency representing only a theory of value, based on unit of work and production, will become the supreme medium of world exchange, and that gold eventually will he valueless and obsolete.

Jan 1, 1942

By F. W. Jessen, H. Kazemi

A washing technique has been developed to form a spherical cavity in massive salt. The technique is, basically, a process of controlling the fluid motion in the cavity, the concentration distribution of brine, the rate of dissolution at the walls of the cavity, and the particular settings of the wash pipe, or pipes (inlet and outlet pipe) employed. For a particular arrangement of tubing and casing, fresh water enters from the casing annulus at a position above the bottom of the tubing, and the dissolved material leaves the cavity through the tubing near the bottom of the projected hole. The initial configuration of the cavity is cylindrical, representing the drilled hole situated at the axis of the projected cavity. As washing progresses the original hole is enlarged radially (any direction perpendicular to the axis of the hole). An inert fluid (generally a hydrocarbon, natural gas, or air) which serves as a blanket is injected through the annular space between the original hole and the casing. The controlled downward motion of this blanket maintains the upper edge of the brine region that is expanding on the surface of the projected sphere. A large spherical glass container and a radial model were used to investigate the flow patterns and the concentration distribution of brine occurring during the progress of solution of the salt. Aluminum flakes and dye were injected and flow patterns were observed and recorded on motion picture film. Based on the results of these model studies and other work carried out in this laboratory, the controlled washing technique was formulated. INTRODUCTION Underground cavities leached in salt beds and salt domes have been used extensively for storing hydrocarbons. Little attention has been focused on the shape of the cavities as long as large volumes were obtained and the cavities were structurally stable. The general process involves circulating fresh water and removing brine. Two distinctly different circulating systems can be employed, each of which yields characteristically different shapes. By far the most generally accepted method of washing storage caverns in salt domes is the direct circulation system. Water is introduced through the innermost pipe of a concentric pipe system, and brine is withdrawn through the annulus. In the reverse-circulation method, water enters through the annulus and is discharged through the smallesc tubing string. The size of the operation, and hence the size of tubing and casing used, depends on such factors as cavity volume, length of hole, availability of water, disposal of brine and power requirements. Underground caverns are from 100 to 1,000 ft or more in length, and when completed vary from 40 to 100 ft in diameter, providing storage of 100,000 bbl or more. The volumes of water required per volume of salt removed vary from 6 to 7 for the reverse circulation method to 10 to 11 for the direct circulation method. Up to 80,000 BWPD are often circulated. In the direct circulation method, because water enters near the bottom of the projected cavity, solution of salt is greatest at this point, particularly in view of the fact that when the washing is begun turbulent flow undoubtedly exists in the immediate vicinity of the discharge of the inlet water. As the diameter of the hole increases, flow rates also are increased, so perhaps the condition of fluid turbulence is maintained for some time. During the later stages of leaching, when capacity of equipment may be the limiting factor in maintaining flow rates, there may still exist some turbulence adjacent to the point of influx; however, for the most part laminar flow conditions prevail. There appears, therefore, rather good evidence to indicate that the state of fluid motion is responsible for the typically shaped cavity which results from such washing — namely a cylindrical form, generally somewhat larger at the bottom than at the top. Depending on the number of so-called stages which might be employed, the walls or surfaces of the salt diminish rather uniformly from bottom to

Jan 1, 1965

Jan 1, 1882

By S. S. Nosseir

INTRODUCTION General Quebec Cartier Mining Co. (QCM) , Canadian subsidiary of U . S. Steel Corporation, operates two iron ore concentrators at the North Shore of Quebec, Canada. In its own operation at Mount-Wright, over 45 million tons per year of crude ore are ground, fully autogenous in six 32' x 11-1/2 Dominion Engineering mills. At Fire Lake/Lac Jeannine operation, property of Sidbec Normines Incorporated (SNI), over 11 million tons per year of crude ore are now ground, fully autogenous, in twelve 18' x 5' Hardinge mills. The Lac Jeannine concentrator was originally constructed by Q.C.M. in 1960 and. was since operated, in beneficiating the Lac Jeannine ore deposit until fully depleted in 1977, at an annual capacity of 18 million tons of crude per year. In 1976, the new company, Sidbec Normines, was incorporated by Sidbec Corporation, British Steel Corporation and Quebec Cartier Mining Co., in proportional holding of approximately 51 to 41 to 8 percent respectively. Since the acquisition of the Fire Lake ore deposit and Jeannine concentrator by the new company, QCM has continued managing the mine and concentrator operaions for S idbec Normines Inc . Flow-Sheet Design Jeannine concentrator comprises twelve identical mill lines grinding the ROM from 8" top size to 14 mesh nominal size range. Driven by 600 H.P. motor at 13.4 RPM corresponding to 73% critical speed, each mill is operated in a closed circuit with two 5' x 12' vibrating screens dressed with 2.5 x 25 mm slot opening cloth. The ground product or screen undersize at an average grade of 33.4% Fe is beneficiated by gravity separation to produce 66.5% Fe concentrate grade at 42.7% weight recovery. At the rougher stage, each mill line con-tains 128 Humphrey 13- 1/2" pitch spirals which produce a final tailing, middling and concentrate products. The rougher concentrate - so produced - is classified by 64 Humphrey pocket sizers into an underflow, which is a final concentrate product and an overflow which is further upgraded by 64 cleaner spirals. The cleaner concentrate together with the pocket sizer 's underflow are dewatered on a 13'[6] horizontal filter. The rougher middling together with the cleaner tailing are recycled in a closed circuit with the spirals. The rougher tailing after dewatering by hydrocyclones is disposed of by a

Jan 1, 1982

By W. W. Odell

Once it was believed that anthracite or coke were the only fuels generally available and suitable for the generation of water gas, particularly so when this gas was made in the generators of standard carburetted water-gas sets such as are commonly used in the manufacture of city gas. During the past 8 years, practice has changed considerably and it is now common to find gas plants operating without anthracite or coke and using bituminous coal in the generator. This change in fuel has appreciably increased the marketability and sales of certain coal producers' products; accordingly it is of interest to coal operators and others to know the reason for this change, the present trend in practice and the adaptability of various coals for generation of water gas. This paper briefly discusses these conditions and some of the factors relating thereto. Bituminous Coal not Ideal but Cheaper than Coke In spite of many changes which have been made in both process and generating apparatus for using bituminous coal as generator fuel more efficiently, in general it is not an ideal fuel for this purpose. It is supplanting coke because it costs less; it is so much cheaper per ton delivered at the gas works that water gas made therefrom costs less per unit-volume than that made from coke, even though the quantity of generator fuel consumed per therm (100,000 B. t. u.) of gas made is greater with coal. This is the reason why so many city gas plants, as well as others, are using bituminous coal instead of coke. Conditions Favoring Change from Coke to Coal The conditions which have made it possible and feasible, as well as economical, to supplant coke with coal may be summarized as follows: (1) Changes in methods of operating and alteration in generating apparatus; (2) lowering of the calorific standards for city gas, and (3) availability

Jan 1, 1927

By C. R. Breck

THERE has been a running discussion over the past several years with respect to the life and adequacy of our natural gas reserves. Some of the experts agree on one phase of the subject at least-that eventually it will be necessary to augment deliveries of natural gas in the northern markets by the development of a more or less comparable synthetic gas made from coal. The purpose of this paper is to point out: 1. It may be later than a good many people think-the demand for addi¬tional domestic and commercial pipeline gas in at least one section of the North will probably be felt rather keenly before an adequate synthetic pipe¬line-gas project, developed on economic lines, could be completed, even if initiated in the near future. 2. The evidence is considerable that such a project would be technically sound and economically self-supporting, although the margin of profit at first might be so small and the magnitude of an economic enterprise so great -that financing would be impossible without Government aid in some form or other. The part of the country referred to is the heavily populated section in the northeast of the United States. To simplify an examination of the situa¬tion, let us take the potential marketing areas within range to the north and east of the three pipelines: 1. Tennessee Gas Transmission Co. as it enters Erie County, New York state. 2. Texas Eastern Transmission Corporation just before the tap that sup¬plies the general Philadelphia area. 3. Transcontinental Gas Pipe Line Corporation as it enters the state of New Jersey. The sources of gas for these three pipelines are in Texas and Louisiana. The ultimate maximum combined capacity of the three lines at the points stated is approximately 1,200,000,000 cu ft per 24 hr at the maximum load factor probable of attainment in normal operation. The areas supplied by the three lines north and east of the points stated, or assumed as eventual markets, are: 1. Central New York state, from Buffalo to Albany (both inclusive).

Jan 1, 1953

By C. Scala, F. Bernstein

General expressions are derived relating the streaming potential to the electrochemical potential of a permeable junction separating two electrolytic solutions. By the methods of irreversible thermodynamics, these potentials are related to the flux of mobile species arising from differences in pressure and chemical composition. The flux is conveniently expressed as a transference number, the equivalents of a mobile species transferred through the junction per faraday of electricity. At constant pressure, the flux equation gives the electrochemical potential across the permeable junction. The streaming potential across the junction is obtained by imposing the condition of constant chemical composition. The familiar expression for the borehole SP is shown to be a particular solution of the general flux equation. The derived exprersions were verified in experiments with seven shale samples. Both the theory and experimental data provide additional proof of the presence and magniturle of the streaming potential in shales. INTRODUCTION In the interpretation of electric logs, there has been much concern over the correction to be made to the recorded SP for an electrokinetic or streaming potential originating from the difference in pressure between the mud column and the formation. It was long recognized by M. R. J. Wyllie that such an electrokinetic potential source mas in the mud cake opposite permeable sands.' More recently, M. Gondouin and C. Scala2 showed an additional but opposing electrokinetic source of potential to be in shale beds. Their work was supported by the very extensive and excellent work of Hill and Anderson.3 n the present contribution, the general relationships between the electrochemical potential and the corresponding streaming or electrokinetic potential are examined and clarified. A notable advance towards understanding the relation between the various sources of electrical potential in a borehole has been the application of the now common methods of irreversible thermodynamics to describe the passage of ions and water through charged electrolyte junctions such as in shales.' The advantages of these methods are twofold. Unlike classical thermodynamics, they can be applied to non-equilibrium sys- tems, i.e., systems in which flow takes place, provided the flow processes have reached a steady state. They also permit conventional thermodynamic properties to be related to the steady-state dynamic properties. These methods arc used here specifically to derive expressions relating the potential behavior of shales in terms of ion and water transport. Experimental verification of the expression for the shale streaming potential is given which in turn offers theoretical support to the existence of a streaming potential in shales.' Importantly, the relative contribution of transport parameters to the SP is clarified. The theoretical treatment is essentially that of Lori-mer, Boterenbrood and Hermans3 ut has been extended to derive the general expression for the SP.

West Virginia University, Engineering Experiment Station, Morgantown, W Va C E Lawall, Director. For copies of Bulletins or other information address the Director Two classes of the Bulletins published by the Engineering Experiment Station are of particular interest in this directory- Research Bulletins, and Extension Bulletins, or bulletins published for use in extension work They are. Research Bulletin 1, The conservation of natural gas in West Virginia (1918), 2, Acceleration stresses in hoisting ropes (1927), 3, Classification of gas wells for operation (1927), 4, Mining methods in West Virginia (1929), 5, The whiteware industry of West Virginia, Extension Bulletin 1, Electricity in mines, series

Jan 1, 1933

(Under this heading will be published notes sent to the Secretary of the Institute by members or other persons introduced by members. ) Member, age 33, single, desires position as null superintendent or charge of mine and mill. Twelve years' milling, cyaniding and flotation in the southwest and Mexico. Will go anywhere. No. 458. Member, mining engineer and geologist, graduated, from- mining college, age 27, single, exempt, with practice in metal mining, surveying of any kind, field geology and ore testing, desires to .engage as geologist or mining engineer with a reputable concern in the west or east of. U. S. Hard worker and reliable. No: 459.

Jan 6, 1918

By Luther Lennox

DURING the last few years, one of the great problems in the milling of all ores has been that of crushing. This subject involves not merely the cost of the operation, but also the selection of the proper degree and character of crushing to yield the best metallurgical results on the given ore. Considering the diversity of machinery, one is led to wonder at the variety of crushing methods employed, even when realizing that metallurgy demands varying products. In an attempt to investigate the relative crushing resistances of a number of ores now being milled in this country and Alaska, the management of the Portland mills requested samples of average mill-run of ore from various companies. The request met with a ready response, indicating the desire of all operators to gain information on the subject. The difficulties involved in this investigation were numerous, lack of time for outside problems during this strenuous period being a serious one. Also, we were unable, in the time, to obtain a correct 150-mesh . screen; in the screen analyses tabulated and plotted herewith, the 150 mesh screen was used merely to protect the 200-mesh screen, not to ascertain points on the curves.

Jan 8, 1918

By A. Springer

Chemists, physicists and others, whose occupations necessitate the use of fine scales, have heretofore regretted their inability to obtain any which would remain uniformly accurate. The difference between the theoretical and the actual results obtained in the ordinary balance (provided the pivot-distances are exact) is mainly due to the frictional resistance between the knifeedges and their bearings. This frictional resistance, although reduced to a minimum in the finest scales when new, constantly increases, thereby decreasing the sensitiveness proportionately. When examined under the microscope, neither the surface of the knife-edge nor that of' its hearings ever appears perfectly smooth. Soft kunife-edges are easily blunted, whereas hard ones are brittle and liable to crumble under the effects of over-load or shock. Prof. Frederick A. Roeder for many years attempted to discover some means by ,which the knife-edge could be replaced with some device free from the above-mentioned objections. His experiments convinced him that a torsion-joint was best suited for that purpose. After he had communicated his conclusion to me, we jointly developed the system to its present form. A torsion-wire had been used for the centre of rotation, prior to Prof. Roeder's invention, but it was found impossible to replace the terminal knife-edges with torsion-joints.

Jan 1, 1884

By Robert S. Shoemaker

Receiving the Richards Award is undoubtedly the most memorable event in my entire life. There should, however, be more names engraved on it. These are the names of men who were my teachers (but not all of the academic variety) and my friends, each of whom had a part in my ever continuing education and thus have a part of this award. There was Bill Caldwell who made me into a chemist, and Will Shorey who added a lot of ore dressing. There was Rush Spedden who put me to work in his minerals research lab, Joe Brennan who made me turn my research into plant practice, and Tom Meek who sent me all over the world on metallurgical jobs. Bob Cheatham and Abe Dor taught me to try to give the client what he needs rather than what he wants, while Ed Malouf and Casey Davis always gave their particular brand of advice at exactly the right time. And, lastly, there was Leo Abell and Frank McQuiston, both fine metallurgists and the best friends a man could have. In addition to those I have mentioned, there are literally scores of others I would like to acknowledge with my sincere appreciation.

Jan 6, 1974

For the first time, the attendance at the meetings of the Institute passed the thousand mark; as is shown by the following table: REGIS- AT BANQUET DID TOTAL TERED NOT REGISTER Men :..:... 703 76 806 Women 195 61 256 1062 The names of the members and guests who registered or attended the banquet but did not register are: A A. D. Beers C. A. Adams Hans Behr Thos. J. Adams Edgar G. Bell Lawrence Addicks Donald A. S. Bell H. T. Abrams W. de LeBenedict G. Aertsen G. B. Bertelli M. M. Albertson Charles P. Berkey James Aldrich Clinton Bernard D. C. Alexander, Jr. W. N. Best W. H. Alexander Robert M. Betts A. W. Allen Christopher H. Bierbaum F. D. Aller Paul Billingsley R. H. Allport R. A. Bingham F. C. Alsdorf R. M. Bird Capt. M. Altmayer John L. W. Birkinbine A.' W. Ambrose G. S. Bisey Henry M. Ami Charles W. Boise F. L. Antisell J. J. Blackmore R. S. Archer A. E. Blackwood Paul' Armitage Capt. C. K. Blatchly Andrew B. Armstrong E. L. Blossom Clifton T. Armstrong C. A. Bohn Ralph Arnold James M. Bonsall R. M. Atwater, Jr. E. E. Boon Joseph E. Aue Gail Borden A. M. Austin R. S. Botsford W. S. Ayres John M. Boutwell

Jan 4, 1919

By F. S. Crawford

IRON and copper are mined in the Lake Superior district. The iron mines of the district have the best safety record for that industry in the country as a whole, while the copper mines of the district rank second in two of the four years recorded (Table 1). In Utah copper comes mainly from open-pit mines, which enables that state to lead easily in safety. All of the Michigan production comes from deep underground workings. About 60 per cent of the iron miners in St. Louis County, Minnesota, are employed at open-pit mines; this favorably affects the combined open-pit and underground accident-frequency rate, as this county provides most of the Minnesota-mined iron ore. In Michigan, however, there are few open-pit mines, the bulk of the production coming from underground mines, while all of the Wisconsin production, just across the state line from Michigan, is from underground mines. In spite of the fact that fewer mines in Michigan use the safer open-pit method, the iron-mining industry of that state maintained a consistently low record from 1931 to 1934; however, it was many points behind its nearest competitor, Minnesota, with its much greater production from open-pit mines.

Jan 1, 1939

By F. S. Crawford

IRON and copper are mined in the Lake Superior district. The iron mines of the district have the best safety record for that industry in the country as a whole, while the copper mines of the district rank second in two of the four years recorded (Table 1). In Utah copper comes mainly from open-pit mines, which enables that state to lead easily in safety. All of the Michigan production comes from deep under-ground workings. About 60 per cent of the iron miners in St. Louis County, Minnesota, are employed at open-pit mines; this favorably affects the combined open-pit and underground accident-frequency rate, as this county pro-vides most of the Minnesota-mined iron ore. In Michigan, however, there are few open-pit mines, the bulk of the production coming from underground mines, while all of the Wisconsin production, just across the state line from Michigan, is from underground mines. In spite of the fact that fewer mines in Michigan use the safer open-pit method, the iron-mining industry of that state maintained a consistently low record from 1931 to 1934; however, it was many points behind its nearest com petitor, Minnesota, with its much greater production from open-pit mines.

Jan 1, 1939

By R. S. Shoemaker, D. L. Harris

Past investigations into the possibility of concentrating the low-grade iron ores of the Gogebic Range in Wisconsin have been hampered by the complex association of the constituent minerals. In part the problem arises from the fact that the iron occurs essentially as two minerals, hematite and goethite, having nearly the same chemical composition but exhibiting different physical properties. Individual grains of these minerals are usually so small that the ore must be ground to a size finer than 325 mesh if substantial liberation of the minerals is to be secured. Appraisal of beneficiation tests on this iron ore requires, therefore, some method of determining quantitatively the contents of constituent minerals in the various products of the beneficiation. Because of the chemical similarity of the two iron minerals, chemical analyses do not provide a means of differentiation. Although the minerals are different physically, they are both opaque and friable, and as the ore must be ground to a very fine size for liberation to be secured, quantitative microscopic methods of analysis are extremely difficult at best. In an effort to overcome these analytical problems, a quantitative X-ray diffraction analysis method has been developed at the University of Wisconsin for the research program on iron ore beneficiation.

Jan 5, 1955

By Albert F. J. Bordeaux

Discussion of the paper of Albert F. J. Bordeaux (Bi-Monthly Bulletin, No. 23, September, 190S, pp. 629 to 640). A. H. BROMLY, Zihuatanejo, Guerrero, Mexico (communication to the Secretary*) :-The following criticism of what "is offered as a summary which may be found useful by mining engineers," is not dictated by any captious spirit, but in the interest of historical and scientific accuracy. The States of Queretaro and Oaxaca have produced sufficient silver to warrant more extended notice. Referring to Pachuca, State of Hidalgo, the somewhat loose and. inexact statement is made that "the ore-deposit is an andesite, intermixed with quartz-veins, rich from the surface." A better description would be,-the ore-deposits consist of quartz-veins in andesite. It is notable that many of the rich shoots worked in recent days did not come to surface. In consequence, Pachuca, is often quoted by the ill-informed as a camp in which values improve with depth, the truth being that the veins carry shoots, or clavos, some of which were exposed at surface and some not. The name of " electric plow," applied to the mechanical stirrer of recent use, is certainly not to be recommended. The stirrer, or agitator, consists essentially of a traversing gang-plow, operated by power through shafting, drums, and wire-rope. The fact that in certain plants the motive-power used is electricity does not make it an electric plow. Such a name suggests a machine of which the motor is an essential and integral part; which is not so in this case. A lathe in a factory driven by water-power is not called a hydraulic lathe. My experience agrees with Dr. Raymond's note as to azulaque, which in sortie districts is also applied to blue copper carbonate. The El Oro, Esperanza, and Mexico mines should be allocated to the State of Mexico; the Dos Estrellas being in Michoacan, as stated. The El Oro quartz certainly does not appeal to me

May 1, 1909