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By AIME AIME

BESIDES commanding increasing importance as an alloying element in combination with ferrous and other nonferrous metals, the variety of uses for pure nickel continues to widen. For coinage it is growing in popularity. These coins have been minted for 27 countries in 72 issues representing 69 denominations. Approximately 3,000,000,000 pieces have been struck, the aggregate weight, of which amounts to nearly 14,000 tons. . Danzig, Iraq and Japan are the most recent governments to adopt, pure nickel coinage. France is adding the denomination of five francs to its other nickel currency; they replace silver pieces. Germany is now minting a new issue of one Reichsmark coins of pure nickel. The Japanese program for 1933 called for the issue of 35,000,000 10-sen pieces and 30,000,000 5-sen pieces. In radio tube manufacture the consumption of pure nickel was approximately twice that of 1932. During 1.933 the nickel plating process by which bright deposits may be plated

Jan 1, 1934

By Dr. O’Neil Thomas J., Donald W. Gentry

"October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February." -Mark Twain Although the preceding chapters describe the type of preliminary evaluation frequently performed in the mining industry, it has been assumed that input data are known with certainty-clearly an enormous simplification. In reality, estimates of ore grade, mining cost, metal price, etc., are subject to varying degrees of uncertainty due to the inability to predict the future with much precision. Management would probably not, for example, be equally attracted to two projects each offering a 20% DCFROI-one for a new gold venture in Nevada and the other for an undersea manganese nodule operation in the Pacific. The high risk with the latter investment tells the obvious; there is more to investment decision-making than a deterministic analysis using "best estimates" of input parameters. The science of decision theory normally distinguishes between decisions under uncertainty, where probabilities of various outcomes are unknown; and decisions under risk, where such probabilities can be estimated. The first case is rarely en- countered in practical capital investment analysis in mining, so the remainder of this chapter focuses on that class of problems where rational probability distributions for the future states of input variables can be estimated. RISK IN MINING Risk in the context of this chapter is the unforeseen deviation of individual cash flows from expected values for a capital project. For a mining venture, the source of this uncertainty could be any number of factors relating to such items as ore grade, ore reserve tonnage, operating costs, product prices, etc. With conventional *Adapted from O'Neil, T.J., 1979, "Procedures for the Preliminary Financial Evaluation of Metal Mining Ventures," Computer Methods for the 80s, A. Weiss, ed., AIME, New York, pp. 556-573.

Jan 1, 1984

By Helmer Hedstrom

GRAVITY surveying with the torsion balance or the pendulum for ore prospecting purposes has generally not been considered practical or even possible. It is the intention of this paper to show that a fast and sensi-tive gravimeter can be very useful in ore prospecting, as an auxiliary to the electrical and magnetic instruments. A number of gravimeters have been constructed and put in practical use in the last seven or eight years; for instance, by Ising, Lejay-Holweck, Haalck, Hartley, Thyssen, Noergaard, the Humble Oil and Refining Co. and the Gulf Production Co. Their main application, apart from their use for geodetic surveys, has been for structure mapping in oil prospecting. There is no record that any of them have been used for ore prospecting. About the middle of 1934 the Boliden Mining Co., in Sweden, began experiments in constructing a static gravity meter sensitive enough for ore prospecting. Calculations and considerations that will be discussed later in this paper showed that this would necessitate an accuracy in the measurements of 0.1 milligal-roughly, one ten-millionth part of the total force of gravity. The first successful practical field tests of the instrument were made in January 1936. About the middle of 1937 the Boliden gravimeter was perfected. Ore prospecting with this instru-ment is now regular practice in Sweden, especially for the testing of indications given by geoelectric and magnetic methods.

Jan 1, 1938

By J. D. Kalasky

Continuous mining has revolutionized the coal industry but intensified the problems of earlier mechanization. From the installation of the first miner, it was recognized that face ventilation would be one of these problems. To establish an efficient work cycle for the equipment being used, conventional mechanized mining provides four or more development faces. Continuous mining, relying on a single machine, requires only one face, although more than one can be driven alternately by the same machine. In gaseous areas mined by the older methods, the intermittent rate of exposure allows time for the face to bleed off or be cleared, and the width obtained with conventional units makes it possible to hang a brattice line almost to the face. Continuous mining increases the ventilation hazards; there is no margin of time, and very limited space. For all practical purposes, continuous miners available today can be grouped into two major types, rippers and borers. The two can be further classified, respectively, as flexible and rigid. Both types have been in operation in U. S. coal mines for the past five to ten years in a number of seams, under various conditions ranging from slightly gaseous to very gaseous. Common methods of face ventilation utilizing jute or plastic brattice material for line curtains, stoppings, and checks have so far met with success. Air volumes to operating sections are greater than for conventional mining, and specific instructions have been given to section crews stressing the precautions needed in dealing with a steady rate of gas emission and the importance of maintaining reasonably air-tight brattice to direct a good steady flow toward the face at all times. Operators of continuous miners, as well as the foreman on each section, are equipped with an approved safety lamp for gas testing. When the miner is in steady operation, tests for gas at the face are made at 15 to 30-min intervals, depending on the

Jan 1, 1960

GENTLEMEN : It is my privilege to transmit herewith the reports for the calendar year 1932 of your Treasurer and the Chairmen of the following Standing Committees: Finance, Admissions, Membership, Papers and Publications, Library, and Mining and Metallurgy. To these reports you are referred for additional details of the year's activities. Finances.-Continuation of depressed conditions in the mining industry (in common with other industries) caused the income of the Institute to decline from $168,274 in 1931 to $138,331. However, economies were effected so as to reduce expenditures from $171,198 to $135,977. As a consequence the net result of the operations for the year was a-surplus of income amounting to $2,354 compared with a deficit of $2,924 in 1931. This gratifying result is accounted for in large measure by the foresight of the Finance Committee in anticipating a substantial decline in income and preparing the budget accordingly. Incidentally, the tentative budget for 1933 has been balanced at $125,000.

Jan 1, 1932

REGULATIONS (proposed) for the location, drill-ing, casing, protection, operation, plugging and filling, and abandonment of natural gas and petroleum wells; having for their objectives. the protec-tion of life and property by prevention of intrusions of oil and gas into workable coal beds, and the conserva-tion of oil and gas resources in territory not underlain with workable coal beds. ARTICLE I Definitions Section 1.-For the purpose of these regulations (proposed), definitions are as follows: Well.-A bore-hole drilled for the purpose of developing natural gas or petroleum, or a bore-hole producing natural gas or petroleum. Well Operator.-Any person, persons, firm, partnership, corporation, company or association that proposes to, or does drill, operate, or abandon a well as herein defined. Coal Operator.-Any person, persons, firm, partnership, corporation, company or association that proposes to, or does operate, a coal mine in territory known or reputed to be underlain with oil or gas-bearing strata. State Mining Department.-The duly constituted authorities of a state having jurisdiction over coal-mining operations. Plat.-A map, drawing, or print made in accordance with the pro-visions of these regulations (proposed). Casing.-The pipe greater than 3 in. in diameter commonly used in wells drilled for natural gas and petroleum. Oil and Gas.-Synonyms, respectively, for petroleum and natural gas. Cement.-Hydraulic cement properly nixed with water only. Workable Coal Bed.-A coal bed in which, in the united judgment of the coal operator, the well operator and the State Mining Department, protection for life or property will be required when wells are drilled through it.

Jan 7, 1927

By Fredrick C. Kruger

Risk capital for mining ventures becomes harder to get each year as the costs for exploration, construction and money continue to skyrocket in today's inflationary economy. Because of this and because mining prospects must compete for the same dollar as many other needs of a diversified company, then the success or failure of any new proposal depends on how well its return on investment compares with all other capital requests. Mr. Kruger presents case histories showing what it costs to explore for new mines, how many of these prospects reward their promoters with success and how well some of the more famous mines have paid off.

Jan 9, 1969

THE Joint Committee appointed to consider a Code of Ethics for Engineers recommends, after delib-erate consideration, that each participating Insti-tute or Society adopt the short simple Code of Ethics following this report. The Committee further recommends that the following method of interpreting and administering the Code be adopted by each participating Institute or Society after any necessary provisions have been, made in the Constitution and By-laws of the Organization. The President of each Society or Institute shall appoint a Standing Committee on Professional. Conduct, to administer the Code of Ethics. The duties of such a Committee shall be to interpret the Code and to render opinions on any cases of ques-tionable conduct on the part of members that may be submitted to the Committee. These interpretations shall be reported to the Executive Board of the Institute or Society who may approve these interpretations, or take such other action as may seem just and necessary. The reports of the Committee on Professional Conduct, when approved by the Executive Board, shall be printed in abstract and in anonymous form in the Institute's or Society's monthly journal for the instruction and guidance of fellow members. This Committee on Professional Conduct shall be appointed in each Institute or Society by the President holding office at the time of the adoption of this Code and shall consist of five member one appointed for five years, one for four years, a third for three years, a fourth for two years and a fifth member for one year only. Thereafter, the President then holding office shall appoint one member annually to serve for five years, and shall also fill any vacancies that may occur for the unexpired term of the member who has withdrawn. These appointments shall he made from among the older members of the Institute or. Society, so that advantage may be taken of their mature experi-ence and judgment. The Committee after appointment shall elect its own chairman and secretary. The Committee shall have power to secure evidence or other information in any particular case not only from the organization's own members, but if it should seem desirable, from men in other professions. The Committee may also appoint sub-committees to consider certain cases when deemed necessary.

Jan 3, 1922

By G. J. Benard

In the 1970’s, several plants have been built and others are in the design stage which use solvent extraction for recovery of copper from acid leach solutions. Other plants are presently being built for the recovery of nickel and cobalt from laterite ores by prereduction and ammonia leaching. A review will be given on the materials of construction for these leaching and solvent extraction processes. Many plants have factors in common which permit selection with a greater degree of accuracy. Based on pilot plant corrosion data, effective use of materials of construction includes proper selection of materials, substitution of lower cost plastics for alloys, and selection of materials resistant against chloride stress corrosion cracking.

Jan 1, 1974

By E. H. Bunce

CONTINUED progress in zinc metallurgy has been shown during 1933 by the adoption of new methods as well as the modernization of old processes and equipment, and by the initiation of new fields of activity for future advancement. The use of suspension roasting continued to grow as its advantages and adaptability became increasingly, apparent. The process developed by the National Smelting Co., Ltd., several years ago, of completely roasting on large sintering machines with utilization of the gas for acid manufacture has worked so successfully that an additional machine was installed during the year. At both the Swansea and the Avonmouth Works all of the ore for smelting is now roasted on the large sintering machines, thereby completely eliminating the old hearth-roasting furnaces. Work continued on obtaining partial purification of zinc ores from lead and cadmium by close control of conditions on the sintering machine, and in a few instances by chlorine additions to the ore before sintering. Ores so treated were either partially roasted or com-

Jan 1, 1934

By Donald R. Lessard

I. INTRODUCTION There is no question that the choice of an appropriate discount rate is a critical element in virtually all business decisions in extractive industries. The standard textbook approach relies on a single overall cost of capital for an entire firm, itself a weighted average of the firm's cost of debt and equity. But a single rate is appropriate only if the commercial risks and financing structures are similar for all projects under consideration. In extractive industries, appropriate discount rates are likely to vary greatly from project to project. Risks of projects differ markedly by mineral, by country in which the project is located, by stage in production, and by position in the project's life. Further, for a variety of institutional reasons, financing structures vary greatly in relation to these same variables and thus the discount rate appropriate to the entire investment and, in particular, to the sponsor's equity investment will vary even more markedly. Failure to select discount rates which reflect these differences can result in extremely distorted decisions. Our interest in this subject results from our ongoing research on alternative ownership and financing structures for large scale extractive ventures in less developed countries where risks to the various participants--the sponsors, the financiers, and the host government--vary dramatically with the different options. Given the magnitude of these differences, a single discount rate for all options is clearly inappropriate. However, there appear to be few guidelines for practicing managers to follow in setting appropriate rates. In this paper, we take a first step in this direction.

Jan 1, 1977

By Wang Yongjia, Steven L. Crouch

This paper describes a numerical method for computing time- dependent displacements and stresses in linear viscoelastic media. For such materials, the correspondence principle can be used to obtain the time-dependent solution directly from the solution to an associated elastic problem in Laplace transform space. The elastic solution, in turn, can easily be obtained by boundary element methods. The work presented in this paper is based on the displacement discontinuity method, adapted for the case in which the region of interest consists of two half-planes bonded together. A practical example of the method is given for a problem involving a panel of rooms and pillars in a thick layer of salt that is overlain by limestone. Viscoelastic behavior of the salt causes time-dependent displacements and stresses in both rock types.

Jan 1, 1982

By Helen L. Cannon

BOTANICAL methods of prospecting for metalliferous ores are based on the premise that deposits at depth may be reflected chemically in surface vegetation. For the past several years, on behalf of the Atomic Energy Commission, the U. S. Geological Survey has investigated on the Colorado Plateau the application of botanical methods to uranium prospecting. Results suggest that orebodies may be found under a considerable cover of barren sandstone through the absorption of uranium and associated trace elements by plants growing at the ground surface. Plant physiologists have demonstrated that uranium is a necessary nutrient for plant growth and therefore is present in all plants.' The amount present is small but measurable. The absorption of uranium by plants growing over ore deposits forms the basis, therefore, for a method of prospecting by plant analysis.

Jan 2, 1954

By R. C. Palmer

THE testing of flotation oils has occupied a large part of the time of the testing departments of various companies using the flotation process in the beneficiation of their ores. The great differences in ores and iii oils has made such work necessary as it has not been possible to select the oil best suited for the purpose without trial of many kinds. In fact, individual shipments of flotation oils from the same manufacturer will often differ so radically that the mill men have been forced to test every lot of flotation oil before its use in the mills. Further, although almost every imaginable product of the distillation of wood, from alcohol to pitch, has been tested in a more or less perfunctory manner by various people, few companies have allowed the results of their tests to be made public. This work was undertaken for the purpose of obtaining reliable data regarding the value as flotation agents of a number of products that are obtained from the distillation of wood by different methods, and incidentally to determine whether some of the products not used at present could be used. Large quantities of such materials are being wasted or burned in the wood-distillation plants of the United States, and if some use other than fuel could be found for these materials, such a use would represent a distinct saving to the country as a whole, would increase the profit of wood-distilling plants now operating and perhaps make it possible for others to operate which at present cannot do so except at a loss. At the same time it was thought that if such products can be used as flotation agents, then their use would serve to increase the number of oils and other products available for flotation purposes. It was also hoped that it might be possible to discover a substitute for some of the most effective but comparatively high-priced oils which are now used for flotation

Jan 8, 1916

By C. H. Frick

BEFORE presenting the main topic, as indicated by the title, this paper will give some of the high-spot history of the anthracite industry. INTRODUCTION The earliest recorded use of anthracite was in the year 1762, when a company of Connecticut pioneers discovered anthracite near the present city of Wilkes-Barre, Pennsylvania. In the early days of the industry, the coal was used only in large pieces, the smaller pieces being discarded to waste piles. As the output of the industry increased during the nineteenth century, uses were developed for somewhat smaller sizes down to and including pea coal. Early in the twentieth century, sizes smaller than pea, such as No. I and No. 2 buckwheat, were developed and used. Accu¬mulations of piles from current mining operations were still increasing; that is, the smaller sizes were still being discarded. It was not until after World War I that preparation of the so-called steam sizes began commercially. This was largely No. 3 buckwheat, which is screened through a 3f 6-in. round-hole screen and over a 332-in. or a M 6-in. round-hole screen. USE OF SMALLER SIZES The earliest recorded experience in burning the small sizes of anthracite for steam production, other than in a previous small experiment, was in the year 1913, when a size known as "boiler fuel" was introduced-a mixture of rice and barley (No. 2 and No. 3 buckwheat). At that time, there was still no method known for burning the still smaller sizes. TABLE I.-Screen Sizes Used for Small Sizes of Anthracite [ ] At the present time, various sizes down to and including No. 5 buckwheat are being prepared (Table I) from current mining and bank-reclaiming operations. The sizes of No. 4 and No. 5 buckwheat and smaller are generally being used for steam production in large boilers. The Pennsylvania Power and Light Co., following World War I, used 680,000 tons of anthracite per year, burned largely on stokers for production of steam, whereas for the year 1943 it used 1,940,000 tons of stoker sizes and 400,000 tons of smaller sizes for grinding and burning in pulverized form. This company has taken a very large part in the research and development of ways and means of burning these smaller sizes of anthracite, including the grinding of the very small sizes. This paper is particularly concerned with the latter feature.

Jan 1, 1946

By E. E. Donath, W. L. Crentz, J. D. Doherty

The principal washing problems in preparing coal for the synthetic fuel industry may be stated as: (1) ash removal for the Bergius process; and (2) sulphur removal for the Fischer-Tropsch process. A study is made of the effect of ash on oil losses during the elimination of the nonliquefiable portions of the coal in the hydrogenation process. The oil loss increases with ash content and results in increased consumption of coal, hydrogen, and power.

Jan 4, 1950

By M. C. LYNN

RECENT completion of a $40,000 lubricating oil plant will make it possible for students in the School of Petroleum Engineering at the University of Oklahoma to carry out on a large scale the entire process of refining crude oil, from the time it is received in tank cars and pumped through the 1/4-mile University pipe line to storage tanks on the campus until the various products appear in finished form. This plant is part of a $100,000 expansion program which this school has been carrying out during the past year. Two years ago the Oklahoma State Legislature appropriated $50,000 for the School to use in improving its laboratory facilities. A few months later a $30,000 PWA grant was ob-

Jan 1, 1937

By Lee W. Abramson

INTRODUCTION The design of rock support for underground nuclear waste repositories requires consideration of special construction and operation requirements, and of the adverse environmental conditions in which some of the support is placed. While repository layouts resemble mines, design, construction and operation are subject to quality assurance and public scrutiny similar to what is experienced for nuclear power plants. Exploration, design, construction and operation go through phases of review and licensing by government agencies as repositories evolve. This paper discusses (1) the various stages of repository development; (2) the environment that supports must be de signed for; (3) the environmental effects on support materials; and (4) alternative types of repository rock support. Much of the information presented in this paper was derived from work conducted for Basalt Waste Isolation Project. Most of the information, however, would apply to other hard rock repositories. REPOSITORY DEVELOPMENT AND THE NEED FOR ROCK SUPPORT Repository development can be characterized by five general stages: exploration and design, excavation, waste emplacement, re trievability period, and backfilling. It is helpful to understand these phases of development to see where and when rock supports are required and how the design is verified. The description that follows is simplified. Details have been omitted, and future plans may not conform to this scenario.

Jan 1, 1984

By C. R. Tinsley

A strictly limited number of specialist project finance banks exists, with the necessary specialist personnel able to address project cost-competitiveness, cost and commodity forecasting, joint venture negotiations, and completion and sales undertakings. Different techniques of internal bank appraisal are applied, with the usual equity investment project valuation criteria being seldom useful for loan assessment purposes. Company attention paid to the preparation of a sensitivity structured bankable presentation can prove most effective for securing development project finance. Substantial scope is possible for savings of time and money.

Jan 1, 1985

By Orville R. Lyons, A. C. Richardson

Operating data is presented for a Bird centrifuge used to dewater coal treated at one preparation plant. The data include: (1 ) percentages of solids in centrifuge feed, cake, and effluent and the plant circulating water for a period of four consecutive operating shifts, and (2) screen-sizing data for a number of centrifuge feed, cake; effluent, and combined cake-effluent samples. An evaluation is included of the relationships between fine solids in the centrifuge feed and the total moisture content of the centrifuge cake.

Jan 3, 1950