Search Documents

By PERCY E. BARBOUR

SECONDARY copper1 has &come more or less of a bugbear generally. What is its influence is often the subject of heated argument. The inedapable fact usually quoted is that since in 1929 primary production of copper in the United States was 1,026,348 tons and secondary production was 626,550 tons, there- fore, 0.6 lb. of secondary is produced for every pound of primary, and "How can you get around that?" The matter seems very plain, now that I have reached my conclusions, but they are the result of much laborious study and research. I shall show that' the production of secondary copper is not 0.6 per lb. of primary, in spite of statistical appearances; that the production of secondary is a function of primary production rather than of price; that secondary production has 'only a sub-. ordinate influence on the price of copper and then only in abnormal times; that there is not an accumulating reservoir of secondary from which the country is some- time to be drowned in copper, as is believed by some, or a reservoir from which we are going to draw much needed and more or less inexhaustible stores in the future, as is believed by others; and finally, that the United States always produces more copper than it uses and exports the surplus. These are all controversial points, and for that reason and to anticipate argument I have set forth my reasoning in considerable detail.

Jan 1, 1931

By A. J. R. Curtis

THE Portland Cement Association was organized more than a third of a century ago by a group of cement manufacturers, to do cooperatively the educational and research work needed to ensure proper use of their product. Specifically, the Association has a threefold purpose: (1) to search out facts to ensure the best possible service from concrete; (2) to give the widest possible circulation to facts affecting the use of concrete; (3) to urge practical application of those facts on actual building projects. An organization of technically trained men conducts many research projects in the Association laboratories, interprets their findings and applies them practically in the field. The net effect of this work has been to improve the design and prolong the life of roads, bridges, industrial, commercial and public buildings, homes, farm structures and concrete products. The results of this technical research and experimentation are made available to the entire construction industry through bulletins and reports. Information is also released to the general public through newspapers, magazines and Association publications. In addition to a1 technical staff in the general office in Chicago, the Association has district offices in 22 cities. Field engineers cover 37 states, the District of Colum-bia and British Columbia, to give service to users of Portland cement.

Jan 1, 1937

By Elizabeth L. Robinson

INTRODUCTION The financial structure of the mining industry has changed strikingly over the last thirty years. The changes that have taken place in the last ten years include both the acceleration of adverse trends in familiar balance sheet numbers and ratios, and the subtle but extensive increase in the complexity and diversity of funding sources, both on and off the balance sheet. The objectives of this paper are: 1. to briefly trace the evolution of trends in the mining industry's financial structure; 2. to focus in more detail on changes in the last decade; and 3. to analyze those trends both within the framework of capital structure theory, and in the context of changes in business and economic conditions. This survey focuses primarily on the mining companies listed on the major U.S. stock exchanges, since financial data for these firms are readily available. The producers of minerals are a diverse lot, however, and the quantitative data on "the mineral industry" as characterized in this survey fails to encompass the financial arrangements for the bulk of production worldwide, whether owned by governments or private-sector enterprises. Even large portions of the U.S. minerals industry - subsidiaries of still larger firms, medium-sized privately-held companies, and the small miners - were not included in the quantitative part of the analysis. THE EVOLUTION OF THE INDUSTRY'S FINANCIAL STRUCTURE In the aftermath of the business failures of the Great Depression, most borrowers and lenders considered minimal debt on the balance sheet the soundest policy. By the 1950's, however, a body of literature was developing which demonstrated that the use of leverage could improve the value of the firm, given a corporate tax structure which allows interest, but not dividends, to be deducted from income. Optimal Capital Structure The objective of undertaking a new project is to improve the wealth of the current owners of the firm. If internally-generated funds are insufficient to allow growth at the desired rate, the company can raise funds either by issuing new equity, or by incurring debt. The most attractive source is the one which will provide the funds for the lowest cost. Both stockholders and lenders expect to receive compensation for use of their funds at a rate which reflects two things: (1) the return they could earn in alternative investments, and (2) the riskiness of the projected return. Factors which increase business risk include the variability of demand, sales prices and input prices, and "operating leverage", or the proportion of fixed to variable costs. In addition, from the investors' point of view, the use of financial leverage concentrates risk onto the shareholders, because lenders enjoy a prior claim in the event of bankruptcy. So although financial leverage can increase a project's expected rate of return, and therefore, presumably, earnings per share, too much debt will be perceived as uncomfortably risky by equity investors, and have a negative effect on stock prices. In theory, then, there should be an optimal level of debt which the firm's managers should seek to obtain in its financial structure. The desirable proportion of debt should in general be lower for a firm with a higher inherent business risk. In addition to their own judgement, financial managers are sensitive to the attitudes of lenders, rating agencies, and investment bankers in setting financial targets (Scott and Johnson). In practice, financial structure will also depend upon the company's growth rate and level of profitability, and conditions in the capital markets at a given time.

Jan 1, 1985

By W. M. Corse

AS THE outstanding contribution of the Committee on Correlation of Research of the Institute of Metals Division for 1932, may be mentioned the publication of Bureau of Mines Information Circular 6637, entitled "Research Activities in the Mineral Industries of the United States." This circular was compiled by A. C. Fieldner and Alden H. Emery, members of the Committee, in cooperation with the Bureau, and comprises a285-page list of research problems reported to the Bureau as engaging the attention of the various mineral industries. To obtain this information questionnaires were sent to 106 governmental agencies, 338 trade and professional associations, 524 colleges and universities, 9 endowed research institutions, and 1847 private companies and consulting laboratories. In order that the returns should be as complete as possible, the original mailing list included names from which it was not expected much pertinent information would be obtained. However, the procedure was justified as significant returns were obtained from many of these.

Jan 1, 1933

By W. A. Wood, H. M. Bendler

Cylindrical fatigue specimens of OFHC* copper were subjected to alternating torsion while under axial tension. The superimposed tension strongly influenced the fatigue life of the specimens as well as causing characteristic changes in the structure of the fissures that form and develop throughout the life of the specimen. A further effect of the superimposed tension is a continuous extension of the specimen throughout its life in a manner formally similar to creep at elevated temperatures. RECENTLY, studies of the structural changes leading to fracture of metals by fatigue have been made by a technique which reveals, in section, the lattice distortion arising from slip movements inside the metal and the disturbances built up by these slip movements at the metal surface.1'2 According to this approach, fatigue develops as follows: a) fine slip movements concentrate in bands, producing little strain-hardening and thus permitting abnormal totals of plastic strain before fracture and, therefore, abnormal amounts of lattice distortion along each slip band; b) both forward and backward slip movements occur in each band which, according to their distribution across the band, may build up surface disturbances that include sharp notches; c) these notches early in the life of a specimen penetrate the distorted slip zones and transform them into deep, fine fissures; d) the fissures on continued cycling locally saturate the metal and cause local collapse in the form of a microcrack. Thus, the significant consequence of fatigue or cyclic

Jan 1, 1962

By H. Morgolin, M. A. Greenfield, P. A. Farrar

In attempts to correlate mechanical properties with microstructure, it is desirable to determine the effect of ß grain size. Determination of 6 grain size is not a problem where a has precipitated at ß grain boundaries. However, in alloys which have been processed to produce an equiaxed a +ß structure the ß grain size is difficult to determine because ß grain boundaries do not etch. The ß grain size can sometimes be laboriously determined by searching for grains which have some a! outlining the 6 grains. This difficulty of ß grain size determination in equiaxed a + ß alloys can be overcome by heating below the ß transus temperature for a short time and water quenching. Fig. 1 shows the starting equiaxed a + ß structure of the Ti-5.25A1-5.5V-0.9Fe-0.5Cu alloy used in this investigation, and Fig. 2 shows the microstructure of the same sample water-quenched after heating 1 min at 1675"F, which is 25°F below the 0 transus. The heavily etched microstructure consists of some equiaxed a! in a structure showing considerable amounts of transformed ß. The ß grain

Jan 1, 1969

By R. W. Waterfill

MANY existing ore deposits of valuable metals have been worked out in their upper surface levels and the continued productivity of these mines is dependent on their extension to greater depths in the earth. The maximum depths at present reached are about 6000 to 8000 ft. below the surface, with no evidence of an impoverished ore vein. These mines are widely distributed; some of the best known are in South Africa, Brazil, India and in the western sections of the United States. Among the factors which increase the difficulty of working these mines at increasing depths are hoisting, rock pressure and temperature. The manner and effectiveness with which these problems are met will, no doubt, determine in a large measure the ultimate depths to which any mine can be profitably worked. The most critical of these three factors at present is the increase in temperature with depth. The high temperature and humidity in many of these mines at present is severely detrimental to the health of the workers and greatly hampers their efficiency. Some have almost reached a condition in which the human system cannot survive. The problems involved in the cooling and ventilation of mines have all been ably analyzed and presented in previous articles. For this reason, only a resume of conditions affecting the cooling and conditioning of deep and hot mines will be given in this paper before attention is directed to possible methods of improving atmospheric conditions in the working levels.

Jan 1, 1929

By R. W. Waterfill

MANY existing ore deposits of valuable metals have been worked out in their upper surface levels and the continued productivity of these mines is dependent on their extension to greater depths in the earth. The maximum depths at present reached are about 6000 to 8000 ft. below the surface, with no evidence of an impoverished ore vein. These mines are widely distributed; some of the best known are in South Africa, Brazil, India and in the western sections of the United States. Among the factors which increase the difficulty of working these mines at increasing depths are hoisting, rock pressure and temperature. The manner and effectiveness with which these problems are met will, no doubt, determine in a large measure the ultimate depths to which any mine can be profitably worked. The most critical of these three factors at present is the increase in temperature with depth. The high temperature and humidity in many of these mines at present is severely detrimental to the health of the workers and greatly hampers their efficiency. Some have almost reached a condition in which the human system cannot survive. The problems involved in the cooling and ventilation of mines have all been ably analyzed and presented in previous articles. For this reason, only a resume of conditions affecting the cooling and conditioning of deep and hot mines will be given in this paper before attention is directed to possible methods of improving atmospheric conditions in the working levels.

Jan 1, 1929

By John B. Cook

Most of today's open pits take the form of conical-shaped excavations in the relatively flat or undulating terrain surrounding them. Ore is usually hauled uphill from the pit bottom by truck, rail, or skip to crushing, beneficiation, railroad loading, and stockpiling facilities near the edge of the pit. There are, however, a few orebodies whose locations in mountainous terrain causes special problems that generate different technical solutions. LAMCO's 10.5 million metric tons per year high-grade iron mine in the Nimba Range in tropical Liberia is probably one of the most extreme of these exceptions (Fig. 1). At Nimba there is a 2,000-ft difference in elevation between the upper- most levels of the orebodies and the start of the railroad below at the foot of the mountain. Haulage to the crusher is usually downhill at grades of up to 12% dictated by the topography of the rugged terrain. Ore is transported from the crusher down the mountainside by a conveyor sys- tem 10,096 ft long, whose average grade is 18%. The belt is braked by asynchronous generators, feeding power into the local network. The original crusher must be relocated at a lower elevation outside the final pit limit to allow that part of the mountain on which it now stands to be excavated. HISTORY The LAMCO Joint Venture is owned 75% by the Liberian-American- Swedish Minerals Co. (LAMCO) and 25% by Bethlehem Steel Corp. LAMCO is comprised of a 50% interest by the Liberian Government and 50% interest by Liberian Iron Ore Ltd (Fig. 2). This joint venture was launched to develop the high-grade iron ore deposits of the Nimba Range.

Jan 1, 1969

By Howard C. Dunkle

Various factors can affect the quality of B1112 and B1113 steel as produced in a bessemer plant; among them: vessel-charging practice, blowing practice, ingot-pouring practice, ingot delivery-time practice, pit-heating practices, and ingot-rolling practice. Evaluation of the influence of ingot delivery time on quality has been chosen as the subject for this paper because this time is completely within the control of the operator, and on this particular factor there is a tremendous amount of information in the dusty archives of the average steel plant. In order to know how much improvement can be made and when attention should be directed to other factors that influence quality, in the continual struggle for improvement, the effect of ingot delivery time must be accurately evaluated. Once this is done, the importance of other variables can be accurately obtained, thus eliminating the necessity of resorting to opinions that are of doubtful value at best. In the study described herein, extensive use was made of the statistical card system as a method of determining the effect of ingot delivery time as a quality factor in bessemer screw-stock grades by simple direct correlation. The value of this statistical method as a means of accurately determining the influence of various factors has been amply demonstrated by Work1 for the bessemer process and by Hand and Gould2 and Fetters and Chipman3 for the open-hearth process. The quality records of 300,000 tons of bessemer screw-stock billets were used in this study of the effect of ingot delivery time on the rejections for breaks, pipe, check and seams. The reduction in the number of rejections for poor quality reduces the costs and increases the productivity per man-hour. The operator today, more than ever before, must know how to keep costs down, how to do it most quickly and in the best way, and how to obtain the highest quality in line with the ever increasing demands of the customer. It is necessary for him to know the individual relations and interrelations between various factors affecting the quality of the manufactured product if he is to produce material that will meet competitively the cost, performance, and quality demands of the trade. SIGNIFICANCE OF STEEL MANGANESE, MIXER SILICON AND STEEL SULPHUR AS QUALITY FACTORS In order to obtain the highest grade of material it is necessary to control many factors-not just one or two, as operators

Jan 1, 1945

By C. C. Miller, A. R. Belyea, C. H. Herty, E. B. Burkart

The removal of sulfur from steel has been studied by many investigators, but the quantitative relationships between the factors involved have not been determined. This is undoubtedly due to the number of variables encountered in practice, an attempt to study any one reaction or relation being affected by other reactions the relative importance of which cannot be estimated. The factors that affect the extent of removal of sulfur in the basic open-hearth process are generally considered to be: 1. Basicity of the slag: (a) Iron oxides in the slag; (b) carbon in the metal or carbide in the slag; (c) temperature. These factors affect the reactions: FeS + CaO = CaS + FeO FeS + CaO + C = CaS + CO + Fe. 2. Amount of sulfur in the gas. 3. Amount of manganese in the metal. The factors which affect the rate of removal of sulfur include, in addition to these: 4. Fluidity of the slag: (a) Normal changes in fluidity with temperature; (b) changes in fluidity because of the addition of special reagents such as fluorspar. 5. Agitation of the bath. Within the past two years, two papers have been presented dealing with the influence of sulfur in the gas on slag and metal. Nead' has shown that if a gas high in sulfur be used for heating, the metal and slag will absorb sulfur. Whitely2 concluded from his experiments that if a

Jan 1, 1925

By R. W. Heins, N. Street

An investigation was made of the Rehbinder-Kuznetsov pendulum as an instrument to aid in the study of rock drillability and of the effect of surface active agents on rock drillability. The "critical weight", i.e., the pendulum weight at greatest sensitivity, was determined for several solids and it was shown that a change in surface environment changed the maximum value of the apparent hardness but not the critical weight, and the critical weight increased with increase of hardness of the solid used. Using silver halides as the solid material, and solutions of either silver nitrate or the appropriate alkali halide, it was shown that there is a hardness maximum at the zero point of charge of the particular silver halide. INTRODUCTION The development of relative hardness measurement by the method of damped oscillations, or what has been called the pendulum sclerometer, is due largely to the Russian workers P. A. Rehbinder and V. D. Kuznetsov and their co-workers.1,2 The apparent simplicity of the method has led to its use in a number of fields, particularly those where relative hardness has to be determined on a brittle solid. As will be shown, the simplicity of the method belies its complexities. THEORY OF THE PENDULUM SCLEROMETER The operation of the pendulum is quite simple. Make a sharp point such as a diamond, hardened steel or tungsten carbide, as the fulcrum of a pendulum, with the center of gravity of the system below the point of support. The attenuation of this pendulum is a function only of air friction, provided no fragmentation, breakage or other work is performed by the point. However, when the solid surface breaks or disintegrates under the point, and the latter penetrates the solid, part of the energy of oscillation is absorbed in the work of creating new surface, and the rate of attenuation increases. In the case of brittle solids, the point of the pendulum produces fragmentary particles, whereas the point produces plastic deformation in a plastic solid; but in both cases damping occurs. This pendulum damping is a function of the hardness or strength of the solid. Whereas a pendulum oscillating on a hard material attenuates primarily by air friction, in the case of a soft material, the points penetrate the surface of the solid, producing new surface, and the pendulum damps much faster. Thus the attenuation rate is a function of the hardness or strength of a material in both plastic and brittle substances. Russian workers initially used a single support for the pendulum, but this created many problems because of oscillation of the pendulum in more than one plane. A revised version used two points, or sometimes a prism as support, successfully confining oscillation to one plane. The version using two points was constructed and used throughout this investigation, making the recording of the attenuation as a function of time relatively easy. That both points should be in contact with the solid during the damping is implied. Rehbinder (c.f. Kuznetsov2) proposed that the hardness H as measured by this method could be expressed by a quantity which is inversely proportional to the relative initial rate of attenuation of amplitude. where H = hardness parameter (arbitrary units) a, = initial amplitude da/dt = rate of attenuation of amplitude with time. In the simplest case of damping with a constant logarithmic decrement, H can be regarded as a constant for the duration of the whole damped oscillation process. That is

Jan 1, 1966

By R. F. Nielsen, R. G. Bentsen

Jan 1, 1966

By J. M. Toguri, K. Grjotheim

It is known 1,2 that the equilibrium between titanium metal, TiCl2 , and TiCl3, in a solvent of molten metal chlorides, is influenced both by the total amount of dissolved titanium and by the type of solvent. Assuming that the trivalent titanium forms the complex ion Ti111 Cl4, the equilibrium reaction may be expressed by the following equation, (Me) TiIII cl4+ 1/2 Ti = 3/2 TiII cl2+ (Me) Cl The ideal ionic equilibrium constant for this reaction is, Where the N's are the molar ionic fractions in the equilibrium melt, and (Me) the different types of cations present in the equilibrium mixture. The following thermodynamic relation is derived between Kand the concentration of cations in the equilibrium melt, mix The N"S are the equivalent ionic fractions, and so forth are constants corresponding to the standard changes in free energy for reactions in melts where only the cation indicated is present, and f (y1) is a function of the activity coefficients in the equilibrium mixture. When this term vanishes, a simplified linear relationship between In Kideal and the concentration is obtained. The simplified relationship has been applied with satisfactory results to the experimental data of Mellgren and pie,' and Kreye and Kellogg.2 MANY existing methods for the production of light metals involve the reduction of their respective metal halides in the presence of salt melts composed of alkali or alkaline earth chlorides. In such a solution phase, the light-metal halide may undergo stepwise reduction from a higher, to a lower valence, and finally to a zero valent state. In this connection, the disproportionation equilibrium is of great interest. In the case where the higher valence is three and the lower valence is two, the disproportionation equilibrium may be written as follows, 3 Me11 = 2 Me111 + Me [I] If this equilibrium occurs in a salt melt containing a large excess of alkali chlorides, a typical ionic melt is obtained. It is then possible to formulate the cation equilibrium: 2 Me+h' + Me = 3 Me++ [II] Reaction [11] is analogous to a cation exchange reaction. It has been shown thermodynamically that the equilibrium constant for such a reaction in 2

Jan 1, 1960

By V. Koump, T. F. Perzak, R. G. Olsson

Jan 1, 1965

By Theodore Marvin

USE of airplanes to facilitate mining and petroleum operations has definitely left the "doubting Thomas" stage. As a matter of fact, front pages no longer record the novelty of this efficient arm of the mineral industry. We are now down to the facts basis. The recent aviation issue of Engineering and Mining Journal added - to our fund of knowledge on applications which the A.I.M.E. Aviation Committee is extensively adding to through its world-wide compilation of specific data. Another indication of the advance of flying in our. industries is the addition of regular aviation specialists to the staffs of various mining and petroleum companies, who function in the organization the same as do the metal

Jan 1, 1936

By Cornelius J. Dwyer

It is possible to hold a very optimistic view of the future of the U.S. coal industry, and there are those in the coal industry who generally choose to do so. For example, a major coal company stated recently in its annual report, "Coal's prospects appear brighter today than at any period in the past." In order to continue in this state of euphoria, it is only necessary to remind oneself of the following "facts":

Jan 7, 1967

By John W. Cabot

The fact has long been known, that the temperature at which steel is made and cast bears a very important relation to the molecular condition of the cast ingot. But until quite recently this fact has not received the consideration which its importance seems to justify. That the ingots from a very " hot " blow in the Bessemer converter, for instance, would not roll as well as those made at a lower temperature, was observed very early in the development of the process; but the further investigation of the effects of varying temperature from "hot" to "cold," has not been carried out with that degree of fulness which has been accorded to the effects on the rolling of the chemical elements, and other conditions in the manufacture. In the following pages will be presented the results of an investigation of this subject, undertaken with the view of determining how far the influence of temperature extends, through how great a range its effects can be traced, and what temperature in the making and casting will give the best results in the rolling of the ingots. In the series of observations forming the basis for the conclusions arrived at, while it was not possible to get the full chemical analysis of every heat considered, a complete record of each, in other details, was made, and a large number of these were averaged together to

Jan 1, 1886

By G. Hileman

At present there are three fields in commercial exploitation in the Argentine. In order of production they are: (1) Comodoro Rivadavia, (2) Salta, (3) Plaza Huincul. Comodoro Rivadavia.—This field is on the coast of the Territory of Chubut in the southern part of the republic. It is being developed and exploited by Yacimientos Petroliferos Fiscales, the government oil entity, and five private companies. The immediate coastal portion of the field, which embraces the original discovery area, is almost completely developed. This is especially true of the original government reserve and one private property. The Y.P.F. has extended its explorations and developments westward to Escalante, 27 km. distant on the state railway. This extension has been the most active and prolific section of the field for the past three years. The government has also continued its exploration drilling in the region lying south of Colonia Sarmiento and east of the Rio Senguer. Private companies have not been able to extend their operations beyond the claims they had in process of acquisition in 1924, when the government reserve areas were established. The Y.P.F. is the major producer of the field and employs modern methods and appliances. Practically all its drilling and pumping operations are electrically operated, from a central power plant. In view of t'he scarcity of water supplies, this facilitates operations and is an economic factor of considerable importance.

Jan 1, 1934

By V. D. O’Leary

The Anaconda Co. has two economic uses for the drainage water from its underground mines in the district of Butte, Mont. One is the precipitation of copper, which the company has been accomplishing at the Leonard precipitating plant for many years, and the other is the leaching of the Berkeley pit discard, where millions of tons of leach material have accumulated. The acidic mine drainage water is an ideal leaching medium for the latter purpose, but the solids and colloidal material suspended in the water must be removed before it can be applied to the low-grade Berkeley leach dump. For this reason, it is important for Anaconda to have an efficient means of cleaning mine drainage. Such a means has been found and tested at one mine and is now to be incorporated in a new central pumping station the company is planning at the 3900-ft level of the Kelley mine. This plant is to be activated in early 1967 and will replace the antiquated four-lift High Ore mine pumping plant which was designed and installed before tailing backfill was adopted. The new plant will feature eight pumps with a total capacity of 8000 gpm in a single lift against a total dynamic head of 4100 ft. For the most efficient and economical operation of the plant it is imperative that all possible mud be removed from the drainage water before pumping.

Jan 9, 1966