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By Moshe Sheinkin, Burke O. Trafton

This paper describes the use of a computer in analyzing the expected return on a mining venture. The computer program is designed to incorporate all aspects of a mining project, including the mine, mill, smelter, and refinery. Data input may consist of the operating variables in each phase such as the mining rate, grades, reserves at the mine, and the technical operating characteristics of the mine, mill, smelter, and refinery. Detailed tax computations are shown for a domestic operating company, for a foreign company and for a foreign subsidiary. In addition, the use of the various options that are available such as expense write-offs or deferments to create tax credits during preproduction years are considered, and its effect on the DCF. The program is also constructed to accommodate changes in metal prices, and escalation of capital requirements and operating costs. Output consists of profit and loss statements for entire projects using different methods of depreciation, cash flows, discounted cash flows, net present value and returns on investment. Returns on investment are computed for equity investment, total investment, and total investment less tax credits. Allowances are made for bank and guaranteed loans. Additional financial statements can be made for the following: a) A mine-mill segment with a concentrate selling schedule b) A mine-mill-smelter complex with a smelter product selling schedule c) Profitability of the smelter separately d) Profitability of the refinery separately

Jan 1, 1969

By George Young

DURING the spring of 1910 I visited a number of open-pit brown-coal mines and underground workings in the vicinity of Halle, Halberstadt, Leipsic, Cologne and Bonn. The notes which I took and the observations which I made at the time have been condensed and make up the principal part of this paper. Certain supplementary information has been taken from several sources which are given in the paper. The mining of brown coal is one of the important industries of Germany. The coal varies in color from dark brown to almost black and is soft like loam. Pieces of wood and strips of bark and, even parts of tree trunks are frequently encountered in the excavation although the coal for the most part consists of a pulverulent, more or less matted mass of small particles of vegetal matter. It is a product between peat and lignitic coal. An analysis, taken from Coal Resources of the World shows the approximate composition of the material: Moisture, 53.73 per cent.; ash, 4.98; fixed carbon, 18.08; volatile carbon, 23.31 per cent. The principal characteristic is the amount of moisture. This seldom runs less than 48 per cent. The ash is usually low and ranges from 5 to 10 per cent. The sulphur content is usually less than 0.5 per cent. The heating effect of the fuel ranges from 2,000 to 2,500 calories.

Jan 2, 1916

By Samuel H. Dolbear

THE value of a mine is basically dependent on its capacity to yield profits. Since the ore must be mined, treated, and sold, some of it in various future years, there is a risk involved as to future costs, selling price, and working conditions. It cannot be expected that the economic condition existing at the time of valuation will continue unchanged for long periods in the future.

Jan 9, 1953

Lieut. Louis J. Brunel, now in France, was commissioned on July 27, 1917, as Second Lieutenant in the Engineers Reserve Corps, assigned to the 7th U. S. Engineers, Dec. 10, 1917, and has been with the American E. F. since Mar. 26, 1918. He was assigned to the staff of the General commanding the 5th Field Artillery Brigade, as Engineer Officer, on Aug. 6, 1918. E. Ross Housholder writes that "the record for pontoon bridge building was broken Sept. 25, 1918, by Section A, Co. 4, 5th Engineer Officers' Training School, at Camp Humphreys, Va., of which I am a member. The time was 15 min. 11 3/5 seconds. We then proceeded to break the record for dismantling in 9 min. 57 1/5 seconds. The length of the bridge section was 200 ft. The post band was sent out to meet us, and we feel proud of this record. I have met quite a few A. I. M. E.

Jan 11, 1918

By A. L. Holley

THE members of the society are doubtless aware that the production of American Bessemer steel works is constantly increasing ; that the same converters and machinery are doing more work every year. This enlarged output is due to various causes, chiefly the following: 1st. Better organization-better knowledge on the part of both managers and men, of the plant and the process ; of the way to economize the more exhausting labor, and of the arrangement of the details of labor and operations so that they shall not conflict; also, more pluck-a greater willingness to take risks, or, more properly, such an intimate knowledge of the nature and capacities of the refractory tory linings in various stages of disrepair, and the probable be- . havior of the fluid metal at various stages of its treatment, that the precise nature of the risk may be better known, so that the works may be crowded to their full capacity. In the early practice, after getting four or five consecutive heats in a day, the men preferred to "let well enough alone," and to devote the remaining time to preparation for another turn. Now, thirty, and sometimes forty heats are regularly made during the twenty-four hours, day after day, without the frequent occurrence and without the fear of breakdowns or "messes," as the spilling of steel charges was graphically named in Sheffield. 2d. Although no new refractory materials have been developed, improved means of preparing such as we have, and of imbedding

Jan 1, 1874

By Roger E. Barthelemy

PRIMITIVE mining and metallurgy has today almost disappeared. Probably the only remaining tribal tin mining and smelting is practiced by the Laotian natives in one of the less known tin areas of the world. This district lies almost a thousand miles from the sea along the Mekong River, one of the longest rivers in the world, that marks the border between Siam and Laos, one of the five states forming French Indo-China. Less than twenty years ago it took more than two weeks' travel on elephant-back to reach the spot and today it still takes many days of travel, using all kinds of transportation from automobiles to native

Jan 1, 1938

By P. H. Royster

For a number of years the Bureau of Mines has been investigating certain problems relating to the blast furnace. In the course of these investigations it was desirable to measure, with the optical pyrometer, the temperatures occurring in the hearth of the furnace. Since no systematic measurements of these temperatures have been published a statement of the results may be of interest. The data given in this paper were obtained it thirty-two blast furnaces operated by seventeen companies; twenty of these furnaces were making iron, eight ferromanganese, and five spiegeleisen. The collection of this information was made possible by the cooperation of the American Manganese Co., Bethlehem Steel Corpn., Brier Hill Steel Co., Buffalo Union Furnace Co., Clinton Iron & Steel Co., Donner Steel Co., John B. Guernsey & Co., Jones & Laughlin Steel Co., E. E. Marshall, the McKinney Steel Co., National Tube Co., New Jersey Zinc Co., Republic Iron & Steel Co., Seaboard Steel & Manganese Corpn., Southeastern Iron Corpn., the Youngstown Sheet & Tube Co., and the Wharton Steel Co.

Jan 9, 1919

By Zay Jeffries

THE object of the present paper is to enlarge somewhat on the general principles advanced in my discussion 1 of Mathewson and Phillips' article on. The Recrystallization of Cold-Worked Alpha Brass on Annealing.2 It will also serve as an acknowledgment of Prof. Howe's3 most important remarks on my contribution. In this paper the writer has adopted Prof. Howe's suggestion to substitute the term "germinative temperature" for "critical temperature for grain growth." Instead of being an exact or certain temperature it should be considered that the germinative temperature phenomenon exists throughout a small temperature range. Factors Influencing Fast Growth Phenomena The development of grains of macroscopic size at the germinative temperature should be considered the extreme condition of a general rule. When considered in this light it is not strange that the development of these large grains should be the exception and not the rule. The principal factors influencing the operation of the laws of fast growth temperature are as follows: 1. Rate of heating.

Jan 10, 1916

By Harry E. Krumlauf

The year 1957 was one of declining metal price and production. Many lead-zinc-copper mines were forced to close, and the remaining mines limited production to stay more in line with demand. High cost of labor, supplies, and equipment and high taxes aggravated the situation. Some operators postponed or abandoned expansion programs because of uncertain economic conditions. Output was curtailed by elimination of over- time employment and reduction of the working force. The number of employes laid off was small- reduction in the labor force was accomplished by not replacing those who left a company's employ.

Jan 2, 1958

By W. R. Ingalls

SOME months ago, I had occasion to make an investigation that introduced the subject of blue powder that is produced as a byproduct in zinc dis-tillation. Although every zinc smelter is aware that more or less blue powder production is inevitable and there is a common practice as regards the treatment of it, the specific and quantitative data respecting the subject were more imperfect than would have been expected. I had reports from eight important works. Some of the data were especially determined for my investigation. Speaking generally, there is a good deal of uniformity in the figures, all of which show that the blue powder product, bears a large proportion to the ore originally charged into the retorts; that a large proportion of the retort capacity is devoted to the redistillation of blue powder; and that of the spelter product of a furnace about 30 per cent. is derived from blue powder, i.e., it is zinc that has been distilled twice. The figures from the works are given in the following table:

Jan 4, 1922

By Milton E. Wadsworth

Hydrometallurgical processing of ore deposits by solution mining or in situ techniques requires the interfacing of technologies as diverse as hydrology, geology, chemistry, and rubblization. This synthesis represents one of the main challenges to in situ processing due to the inherent complexity and vocabulary of these well-developed technologies, and to the general lack of appreciation for the depth of knowledge and endeavor in each separate field. No better example of the need for such interfacing of technologies exists than that of solution mining. How well these technologies interface depends upon the size of the operation and its financial capability to use the information and technology available. It is inconceivable that any one individual can optimize each potential contribution alone; consequently, some areas are usually neglected or simply are not fully appreciated. When one examines what must be done at a future date to develop and exploit a remote solution mining system, it becomes obvious that each discipline must effectively communicate the needed background information to make the project a synthesized whole.

Jan 12, 1977

By Helmer Hedstrom

THE purpose of this paper is to direct attention to the importance and the usefulness of phase measurements in electrical prospecting for ore, a subject about which virtually nothing has been published. The paper describes a new field method for ore prospecting, the "Turam" method, which makes use of phase measurements, and which has been used with great success for five years. Of the principal geophysical prospecting methods, the gravimetric and magnetic methods determine the direction and strength of the static fields of force of the earth. By seismic and electrical methods, fields of force are applied to the block of ground under investigation. By these methods a third parameter can be measured, besides the direction and strength of the field; namely, the time of arrival of the applied field at the different observation points. This time of arrival has been practically the only parameter measured in seismic work, while in electrical pros-pecting it has generally not been considered, the measurements having been limited to determination of direction and strength of the applied field.

Jan 1, 1937

By Eugene Guccione

FOREWORD-At the SME-AIME meeting in Las Vegas this year, the SME Publications Board and the MINING ENGINEERING Committee decided that a fitting way of celebrating the United States' bicentennial would be to publish an article in ME covering the great men in American mining. After some discussion as to the inclusion of financiers -men such as William Randolph Hearst, J. Pierpont Morgan, etc.-the group agreed that the feature should be restricted to the "nuts-and-bolt people," e.g., mining engineers, geologists, mineral processing engineers. Thus, from the AIME All Institute Honors roll and from the SME Awards list, the group chose these 11 historical figures: Herbert Hoover, Daniel C. Jackling, Henry Krumb, James Douglas, Rossiter W. Raymond, Hal W. Hardinge, Seeley W. Mudd, Erskine Ramsay, Howard N. Eavenson, Robert A. Richards, Arthur F. Taggart. What follows is an account of each of these great miners' achievements and the problems they faced, and an assessment by some of today's mining leaders of the challenges that lie ahead.

Jan 7, 1976

By Douglas Semmes

THE possible oil territory of Alabama can be readily divided into two regions, the Paleozoic area of the north, and the Coastal Plain province of Cretaceous and younger formations lying to the south. This latter area has received much attention in the last few years and has been described by a number of writers.1 Although the possibilities of the Cretaceous series have been much emphasized by recent writers, the fact remains that the two or, possibly, three localities where oil or as have been found in, anything like paying quantities are confined o the area of Carboniferous rocks. Moreover, almost all of the oil seeps and a good percentage of the gas seeps are confined to this area .2 Topographically, as well as structurally, the Paleozoic area can be divided into three rather well defined provinces: (1) The broad, open Coosa Valley lying adjacent to the crystalline oldland, with comparatively little relief, except for occasional longitudinal ridges and rather intense folding; (2) the plateau region of horizontal or gently warped Pennsylvanian strata broken by occasional anticlinal valleys aligned northeast and southwest, outliers of the Coosa Valley proper, in which

Jan 3, 1920

By A. P. Watts

FOREWORD THE problem of concentrating the disseminated lead ore of southeast Missouri is extremely simple. The economic mineral is galena and the gangue is dolomite. The ore assays from 4 to .6 per cent. lead, 80 per cent. of which is recovered in a 70 per cent. concentrate.. The ore is crushed through 10 mm. and sized on 2 mm.; the oversize is jigged, while the undersize is tabled, and the slime treated by flotation. The district is the largest lead producer in the world, the output of metallic lead for the year 1915 being 183,906 tons. Over 20,000 tons of ore a day is being treated. The management of the different properties is progressive and always open to suggestion. The fact; however, must not be lost sight of, that the problem in the district is peculiar, as the average ore contains but 80 to 120 lb. of a metal normally selling at about 4c. per lb. The low price of the metal limits the treatment system to one of low cost. An elaborate treatment is neither logical nor advisable. An engineer first visiting the district may consider that the method of treatment could be improved

Jan 10, 1917

By F. G. Smith

A FEW years ago, the writer encountered a, problem that, at first, seemed to be due to peculiar conditions affecting grain growth. Large cups made from heavy metal failed in the first drawing operation in the process of making seamless tubes. The metal, as cast, appeared to be sound and strong; it rolled successfully and withstood the first cupping operation, but on the first draw it failed, with a crystalline fracture. The failure appeared in the slightly worked part of the bottom of the cup, and microscopic examination revealed exceptionally large grains. Knowing the general conditions governing recrystallization of brass, which were later published by Matthewson and Phillips, an investigation was outlined with the idea of including various conditions under which new grains might form, and which would include the effect that a previous anneal might have upon the anneal following. These conditions were produced by annealing specimens of brass at five different temperatures, indenting them with a 10-inn. ball under four different pressures, and then reannealing at each of the five temperatures five specimens each of which had been annealed at one of the five temperatures.

Jan 8, 1919

By R. J. Charles

Previous study of simple impact systems indicated that energy required for fracture and size reduction of brittle materials is greatly dependent on the type of loading that is employed. In this regard it was postulated that fracture and size reduction of a brittle specimen might be accomplished by a high velocity impact at an energy level at which a low velocity impact would leave the specimen relatively undamaged. The finite time required to propagate energy away from the point of loading of an impacted object to other parts of the object and to its supports may permit a concentration of energy at the point of impact if the rate of loading is high. Localizing of energy at the point of impact could quickly initiate fractures that would propagate through the impacted material along with the traveling stress waves. As the cracks form, the initially absorbed strain energy would be released and portions of it travel ahead of the crack tips as stress waves. These secondary stress waves, combined with the initial stress waves derived from the impact, would produce high localized strain conditions in front of the fracture zone. The fracture zone would propagate and the specimen shatter. High rates of loading are brought about by short impact times, in turn obtained by employing high velocity projectiles that are of small mass compared to the impacted object.

Oct 1, 1956

Discussion of the paper of Max Hebgen, presented at the Butte meeting, August, 1913, and printed in Bulletin No. 80, August, 1913, pp. 1910 to 1933. A MEMBER :-Have there been any definite studies made in the hydrology of this system ? That is to say, what is the total extent and area of the drainage or catchment basin above these plants ? What is the total annual precipitation, and what is the percentage of run off ? That is a very interesting question to engineers and a question engaging a great many, because, unfortunately, there is not the amount of information on that subject which there ought to be.

Jan 11, 1913

By Frederick B. Brien

DEVELOPMENT of uranium extraction techniques over the past ten years has been spectacular. Rapid progress has been made by applying chemical, physical, and engineering fundamentals for the purpose of devising simpler processes, developing continuous procedures, reducing reagent consumption, improving final products, simplifying analytical methods, and treating more refractory ores and ores of lower grade. Since the source of many valuable metals in future will be of necessity from lower grade ores of a complex nature, and since hydrometallurgical processes are often the only means of treating such materials, these recently developed techniques will be of increasing importance. Leaching: A great deal has been published about the important role of ion exchange resins in purifying and concentrating leach solutions. Recent applications indicate that the resins will be very useful in simplifying leaching procedures of ores containing two or more valuable metals.1 The valuable metals may be differentially adsorbed by careful control of the oxidation-reduction potential of the pregnant liquors. For example, treatment of vanadium- uranium ores at present may involve salt roasting, water leaching, acid leaching, carbonate leaching, and intermediate fusions. Use of a single acid leach may now be possible, followed by a two-stage ion exchange technique, comprising initial adsorption of hexavalent uranium and rejection of tetravalent vanadium. The solution is then oxidized, producing pentavalent vanadium, which is later readily adsorbed and stripped into a separate eluate.

Jan 9, 1957

By E. C. Harder

Few mineral deposits have in recent years attracted such general and widespread attention as the Brazilian iron-ore depositis…

Jan 1, 1915