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

"We can easily represent things as we wish them to be..” -Aesop INTRODUCTION The first eight chapters of this book have primarily addressed the concepts and fundamentals associated with project valuation, particularly as they apply to mining-related projects. Specific emphasis was placed on the engineering and economic parameters and estimates necessary for quantifying line items in pro forma income statements and the subsequent calculation of net annual cash flows. Given these estimates of relative benefits, costs, and annual cash flows for a project, it then becomes necessary to convert these estimates into measures of relative desirability or attractiveness. The criteria and techniques typically utilized to determine project acceptability or desirability are, then, the topics of discussion in this chapter. Before proceeding it may be advantageous to put the problem of project evaluation into proper perspective by reiterating some of the fundamental concepts developed in Chapter 1. The basic premise set forth in this book is that the objective of the firm should be to maximize its value to its owners (stockholders' wealth). This value or wealth is represented by the market price of the firm's common stock; consequently, the primary objective of the firm can be restated as one of maximizing the value (price) of the firm's common stock in the marketplace over the long term. This price, in effect, is an indicator or index of the market's perception of the company's progress and a reflection of the investment, financing, and dividend decisions made by corporate management. These three major decisions are inter- related and jointly impact the market price of the firm's stock. Therefore, if the objective of maximizing the value of the firm to its stockholders is to be achieved, an optimal combination of the three decisions will be necessary. It is important to emphasize that maximizing stockholder wealth is not the same as profit maximization or even the maximization of earnings per share. Corporate managers making decisions based on the objectives of maximizing profits and/or earnings per share must recognize that these objectives do not consider: (I) the timing or duration of expected returns, (2) the business and financial risks of the promised earnings, or (3) the dividend policy of the firm. Obviously all of these factors are of concern to the company's stockholders and will have an effect on the market value or price of the firm's common stock. Maximizing market price per share, or wealth maximization, is therefore the appropriate corporate objective and

Jan 1, 1984

By E. F. Reed

CONSIDERABLE deep hole prospect drilling has been done in the last few years in the Globe-Miami mining district about 70 miles east of Phoenix, Arizona, and in the San Manuel-Tiger area about 50 miles south of the Globe-Miami region. More than 205,000 ft of churn drilling have been completed by the San Manuel Copper Corp. at their property in the Old Hat Mining District in southern Pinal County. The deepest hole on this property is 2850 ft; there are 49 holes deeper than 2000 ft. At the adjoining Houghton property of the Anaconda Copper Mining Co., where only one hole reached 2000-ft depth, there were 27,472 ft of churn drilling and 3436 ft of diamond drilling. Three churn drill holes were deepened by diamond drilling methods. Near Miami in the Globe-Miami district the Amico Mining Corp. drilled four holes by combined churn and rotary drilling methods, the total amounting to 13,879 ft, of which 2256 ft were drilled with a portable rotary rig. In the same district, besides doing a large amount of shallow prospect drilling, the Miami Copper Co. drilled two holes of 2560 and 3787 ft, respectively, which were completed by churn drilling methods. The rocks encountered in drilling at San Manuel and Tiger are described by Steele and Rubly in their paper on the San Manuel Prospect' and by Chapman in a report on the San Manuel Copper Deposit? The rocks are well-consolidated Gila conglomerate, quartz , monzonite, and monzonite porphyry. In some places these formations stand very well while being drilled, and three holes were drilled without casing, the deepest of which was 2200 ft. In other holes faulted and fractured ground made drilling difficult. In the Globe-Miami district the deep drilling was done in the down-faulted block of Gila conglomerate east of the Miami fault and in the underlying Pinal schist. The geology of this area is described by Ransome.3 In the Amico holes the conglomerate varied from material consisting entirely of granite boulders and fragments to a rock made up of schist fragments in a sandy matrix; in the Miami Copper Co. holes there were more granite boulders and the material was poorly consolidated. Drilling was much more difficult and expensive in the Miami area than in the San Manuel district, mainly because of the depth of the holes and the formations drilled. All the deep hole prospecting described in this paper was done with portable rigs. The churn drill rigs were of several types, of which the Bucyrus-Erie were the most popular. Bucyrus-Erie 28L, 29W, and 36L rigs were used on some of the deeper holes on the San Manuel property. A few Fort Worth spudder types were tried, and the deepest hole at San Manuel was drilled with a Fort Worth Jumbo H. The spudder type is considerably larger than most other rigs used on this work and required a larger location site. The spudders were belt-driven machines with separate power units, and time required for setting up and moving was much longer than with the more portable drills. All the churn drilling was done by contractors or with machinery leased from them. A few of the contractors had complete equipment, including most of the necessary fishing tools. Unusual and special, fishing tools were obtainable from the supply companies in the oil fields of New Mexico or in the Los Angeles area. Most of the contractors used equipment with standard API tool joints, so that much of it was interchangeable. Failure of tool joints is one of the principal causes of fishing jobs. It can be minimized if the joints are kept to the API specifications and the proper sized joints are used in the various holes. The minimum sizes that should be used with various bits are as follows: 12-in. and larger bits, 4x5-in. tool joints; 10-in. bits, 3 1/4x4 1/4-in. tool joints; 8-in. bits, 2 3/4x 3 3/4-in. tool joints; 6-in. bits, 2 1/4 x3 l/4 -in. tool joints; 4-in. bits, 1 5/8 x2 5/8-in. tool joints. Two rotary drill rigs were tried at San Manuel on the same hole, and a portable rotary drill rig was used on the Amico drilling for test coring the formation and for drilling in holes 3 and 4. Rotary drilling differs from churn drilling or cable tool drilling in that the bit is revolved by a string of drill pipe and the cuttings are removed from the hole by a thin solution of mud pumped through the drill pipe. The principal parts of a rotary rig are the power unit, a rotating table to revolve the drill pipe, hoists to raise and lower the pipe and to handle casing, and a pumping system to circulate the drilling liquid. The rig used on the Amico property at Miami was mounted on a truck. The larger rig used on the San Manuel property was hauled by several trucks and had separate turntable and pumping units. Diamond drill coring equipment was used successfully with the rotary rig in the holes on the Amico property, To allow for 2 3/8-in. drill pipe with tool joints, 3 1/2-in. core barrels and bits were used. With the standard 3 1/2-in. core barrel there was considerable difficulty in maintaining circulation with mud, so a barrel was designed with a smaller inner tube and a broad-faced bit. This allowed coarser material to circulate between the barrels. Rock bits of 5 5/8 to 3 7/8 in. were used with the rotary rig for drilling between core runs. Diamond drill equipment is much lighter than churn drill tools, so that fishing tools can usually be obtained from supply houses by air express when needed. Three churn drill holes on the Houghton property at Tiger were deepened by diamond drilling with Longyear UG Straitline gasoline-driven-machines. The open churn drill hole was cased with 2 1/2-in. black pipe. In deep hole churn drilling, casing is one of the most important items, especially in drilling in unconsolidated material like the formations drilled by

Jan 1, 1952

By C. R. Fischrupp, M. D. Helfrick, W. A. Straw

In the manufacture of telephone apparatus a number of nonferrous sheet metals arc blanked and formed to produce a wide variety of parts, which are generally small in size because of space and weight requirements. Many are given sharp bends in forming, so that they may be assembled into compact units. This study covered sheet metal of the alloys of brass, phosphor bronze and nickel silver that are most extensively used by our company. In general, the sheets range from 0.005 to 0.100 in. in thickness and from 1/4 hard to extra spring temper in hardness. As many parts function as flat springs, and others require the maximum stiffness for structural reasons, a large percentage of the metal is used in the hard and spring tempers. So, because of the necessity for the minimum radius of bend consistent with the maximum in hardness, there has been a need for information as to the forming characteristics of these sheet metals in the various alloys, tempers and thicknesses. The literature yields relatively little regarding such forming characteristics, so that designers of apparatus and tools have been largely dependent upon past experience or tool tryouts for guidance. In presenting tabular data intended as a basis for selecting the temper of the metal and radius of the bend, we recognize the influence of many other factors which are not covered in this study. For example, the angle of the bend and conditions of the metal, such as grain size and presence of impurities, as well as conditions of the fabricating process, such as rate of forming and adjustment of the tools, may all affect the result. In addition, a bumping operation subsequent to forming, which is frequently used to set the bend, increases the strain on the metal. We wish to emphasize the fact that this is not considered a scientific investigation of the formability of materials or an attempt to correlate forming characteristics with various other properties of the metals, except in so far as such properties are controlled by commercial limits on composition and temper. It is expected, however, that the data presented may serve some useful purpose in estimating the relative formability of different thicknesses

Jan 1, 1931

By Henry Rawdon

THE METHOD of demonstrating the structure existing in a metal or alloy at high temperatures, by etching a polished sample after it has been heated to the desired temperature, is quite familiar to metallographists. The usual procedure1,2 is to heat the specimen, previously polished for microscopic examination, to the desired temperature, in a neutral atmosphere (hydrogen or nitrogen), then admit the etching gas. (chlorine, hydrochloric acid or similar gas) for. a few seconds, and finally, after flushing out the etching gas with the neutral one, cool the specimen in the neutral atmosphere. The pattern produced by etching at a definite temperature is usually taken as a record of the microstructure prevailing at that temperature. It has frequently been pointed out that changes in composition of the surface metal occur during the preliminary heating in the neutral atmosphere, so that the appearance produced' by the etching at high temperature may not exactly represent the condition of the interior of the specimen. To overcome this uncertainty, the heating has sometimes been done in vacuo,3 the etching gas being ad-mitted when the desired temperature was reached, then pumped out and the specimen cooled in vacuo.

Jan 2, 1920

By W. M. Corse

AT THE TURN of the century the nonferrous alloy industry was awakening to the value of scientific metallurgy, and brass foundries and rolling mills began to establish their own research laboratories for scientific research and control. As the industry grew and its scope broadened it became apparent that an organization was needed that would stand in the same relation to the nonferrous industry as the American Foundrymen's Association did to the iron foundry business. The brass founders' group of the foundrymen's association discussed the matter and it was finally decided to appoint a com- mittee to draw up a constitution for a new organization to be known as the American Brass Founders' Association. Charles J. Caley was chairman and Dr. Richard Moldenke secretary of this committee. The object of the organization as defined by the constitution was the study of the technological development of alloying and founding non- ferrous metals, and furthering the advance of nonferrous metallurgy and the standardization of materials and operations in cooperation with the Bureau of Standards and engineering societies.

Jan 1, 1932

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 E. H. Rose

The present symposium on flotation machines provides a unique opportunity for group reappraisal of standard or habitual viewpoints. A symposium is by definition a trading post- for observations that might prove complementary when put together, thus leading to useful thoughts that might not have been evident from the original observations individually. The present paper, pertaining to power consumption in flotation, is deliberately an experiment of that kind. Data were solicited from the operating superintendents of several of the major flotation plants on this continent. The information received, covering a total of 14 separate operations in seven plants, has been collated in terms of power intensity; that is, the total power input per cubic foot of cell volume. This departs somewhat from the conventional expression of power per ton of ore treated, though the latter figure is also given for the plants concerned. Because of wartime restrictions, particularly in Canada, identifying names of plants and machines are withheld. Not as a firm conclusion, but as a tender for symposium discussion, the following points are made: 1. That flotation is a power operation in much the same sense as ball milling. 2. That contact time is the complement of power intensity and may be decreased as the latter is increased. 3. That a decrease in flotation power per ton of ore can result from an increase in power intensity. Analogy with Grinding In grinding, it has become axiomatic that the more the power put into a given operation, the greater the work performance. The analogous view is now proposed that the effectiveness of any flotation operation will be related to the mechanical energy usefully applied to that operation. Under this view, each increment of properly directed input energy should give either an increase in unit tonnage or an improvement in the metallurgical separation (concentrate grade or tailing grade), until either the theoretical limit imposed by mineral constitution or surface condition is reached, or until further increments of power become uneconomic under the law of diminishing returns. Thus, as in grinding, there are two forms of output that greater power input or improved utilization of power can produce. As for the law of diminishing returns, lower unit cost of power through improved generating efficiency in the past decade has pushed the limit back. Over and above this, however, there is strong indication in the operationg data herein presented that higher power intensity results in an actual economy of over-all power consumption. Like crushing and grinding, flotation accomplishes a rupture of the forces of molecular attraction, by taking particles from the common environment and placing them in the two separate environments of

Jan 1, 1947

By E. H. Rose

The present symposium on flotation machines provides a unique opportunity for group reappraisal of standard or habitual viewpoints. A symposium is by definition a trading post- for observations that might prove complementary when put together, thus leading to useful thoughts that might not have been evident from the original observations individually. The present paper, pertaining to power consumption in flotation, is deliberately an experiment of that kind. Data were solicited from the operating superintendents of several of the major flotation plants on this continent. The information received, covering a total of 14 separate operations in seven plants, has been collated in terms of power intensity; that is, the total power input per cubic foot of cell volume. This departs somewhat from the conventional expression of power per ton of ore treated, though the latter figure is also given for the plants concerned. Because of wartime restrictions, particularly in Canada, identifying names of plants and machines are withheld. Not as a firm conclusion, but as a tender for symposium discussion, the following points are made: 1. That flotation is a power operation in much the same sense as ball milling. 2. That contact time is the complement of power intensity and may be decreased as the latter is increased. 3. That a decrease in flotation power per ton of ore can result from an increase in power intensity. Analogy with Grinding In grinding, it has become axiomatic that the more the power put into a given operation, the greater the work performance. The analogous view is now proposed that the effectiveness of any flotation operation will be related to the mechanical energy usefully applied to that operation. Under this view, each increment of properly directed input energy should give either an increase in unit tonnage or an improvement in the metallurgical separation (concentrate grade or tailing grade), until either the theoretical limit imposed by mineral constitution or surface condition is reached, or until further increments of power become uneconomic under the law of diminishing returns. Thus, as in grinding, there are two forms of output that greater power input or improved utilization of power can produce. As for the law of diminishing returns, lower unit cost of power through improved generating efficiency in the past decade has pushed the limit back. Over and above this, however, there is strong indication in the operationg data herein presented that higher power intensity results in an actual economy of over-all power consumption. Like crushing and grinding, flotation accomplishes a rupture of the forces of molecular attraction, by taking particles from the common environment and placing them in the two separate environments of

Jan 1, 1947

By G. Reinberg, C. D. Clarke

Most underground mining operations are dependent on pumping installations to keep the mine unwatered. The reliability of such installations is obviously of paramount importance. The volume of water to be handled is often considerable, and the total head is relatively high. In these cases, both capital cost and operating expense of the pumping installations will become significant factors in overall mining costs. To insure reliability and to keep efficiencies, and hence operating costs, within acceptable limits it goes without saying that mechanical maintenance of a mine pumping installation must receive scrupulous attention at all times. Large mine pumping installations today almost invariably use multistage centrifugal pumps, since positive-displacement units would not be economically competitive except under very unusual conditions of small volume combined with extremely high heads. Centrifugal pump maintenance, under ideal circumstances, would be confined to parts subject to normal running water, i.e., bearing surfaces, stuffing box packing, and shaft sleeves. Under adverse conditions, however, metal may be lost from the wetted surfaces of a pump by erosive or corrosive action of the pumped fluid, and maintenance costs can easily attain enormous proportions.

Aug 1, 1956

By S. Floreen, R. M. Pilliar, H. W. Hayden

The fracture behavior of a 50 pct Cu-50 pct Fe mi-croduplex alloy, laminated composites of copper and iron and an extruded 50-50 Cu-Fe elemental powder composite was studied. Very low ductile-brittle transition temperatures were achieved in all cases, but for different reasons. In the microduplex alloy both the initiation and also the propagation of cleavage fractures appeared retarded by the very small in-terphase distances. In the composites, crack propagation through the sumples was prevented in most cases by delamination fractures perpendicular to the advancing cracks. These delaminations occurred at different regions and by different mechanisms in the various composites. In the extruded powder composite, de-lamination appeared to take place along preexisting flaws. In the crack arrest geometry of the laminated plates, delamination took place by localized shear fractures within the copper near the Fe-Cu interfaces. In this case delamination was enhanced by thicker laminate layers, and by having the resistance to shear failure of the copper sufficiently low compared to the toughness of the iron. BRITTLE fracture in engineering materials has long been a problem, and many different ways of preventing it have been considered. One method that has been of growing interest lately is to prevent crack propagation by the introduction of mechanical discontinuities into the structure. These discontinuities may act in several ways. They may simply act as crack stoppers. They may introduce secondary fractures such as de-laminations that deflect the initial crack into new, less damaging directions. Alternatively, they may subdivide a fairly large bulk sample that would have been loaded in plane strain, for example, into a number of subunits that are individually loaded in plane stress and thus are more resistant to fracture. Other mechanisms, or combinations of mechanisms, are also feasible. A number of methods exist for introducing mechanical discontinuities into a structure. Composites by their nature have discontinuities in structure, and numerous studies have shown that fracture propagation in materials of this type can be radically changed by suitable control of the composite parameters. Of particular significance to the present work are recent investigations of layered composites made by joining high strength steel sheets by various means.'-4 These studies have shown that through proper control of the mechanical properties of the bonds joining the sheets it was possible to introduce delamination fractures that markedly improved the overall toughness of the composites and in some cases completely prevented through-the-thickness fractures. Another technique for introducing structural discontinuities is simply to use a two-phase alloy. It has been recognized for many years that a small amount of a second phase may improve toughness either by homogenizing plastic flow and thus preventing localized stress concentrations that nucleate fracture, or by interacting with an advancing crack. In most of these studies of two-phase materials, the decreases in ductile-brittle transition temperatures produced by the second phase were relatively small. More recently, work on two-phase stainless steels having a very fine grain microduplex structure has shown that the presence of on the order of 40 to 50 pct of a tougher second phase may lower the ductile-brittle transition temperature of the brittle phase by approximately 300°F. 5-7 In these alloys delaminations were seldom observed. The tougher second phase appeared to minimize the ease of both the initiation and the propagation of cleavage fractures. These results show that both the composite approach and the microduplex alloy approach are effective methods of preventing brittle fracture. Therefore, it was of interest to compare the fracture behavior of a microduplex alloy with composites made from the two-phases that were present in the alloy. To simplify this comparison the 50 pct Cu-50 pct Fe system was selected for study. At low temperatures the equilibrium tie line phases in this system are essentially pure ferrite and pure copper. A 50-50 alloy was cast and hot worked to produce a microduplex structure. Two types of composites were studied; laminated structures prepared by roll bonding iron and copper sheets of the tie line compositions, and an extruded powder composite made from high purity elemental powders. The fracture behavior of these materials was then compared. EXPERIMENTAL PROCEDURE Alloy Preparation. The 50-50 Fe-Cu alloy and the components for the roll bonded composites were prepared by vacuum induction melting 30-lb heats using electrolytic grades of iron and copper as charge materials. A carbon boil was used to deoxidize the melts. Small additions of copper and iron were made to the iron and copper heats, respectively, to approximate

Jan 1, 1970

By R. J. Wysor

SINCE the outbreak of the European war, few problems of raw-material supply have commanded more nation-wide attention than potash. It is well known that before the war the domestic production of potash was an insignificant percentage of the imports. The average annual importation of raw potash salts for several years prior to 1914 was slightly over 300,000 net tons, and f other potash manure salts about 700,0000 tons. The sudden and almost total cessation f these imports created a unique and stringent situation. Methods of recovering potash from feldspar and other native mineral sources, and reclamation from hitherto waste products, have received a marked impetus. Soaring prices have been a keen-incentive to research and industrial development. Although several brief articles concerning the possibilities of potash recovery have appeared in recent trade journals, it still may be a matter of some surprise to the average technical mind that potash might be reclaimed as a profitable byproduct in the manufacture of pig iron. At the present time it may be of special interest to present some data, largely of a technical nature, on this subject. A fairly thorough search of the literature reveals a number of articles concerning salts of the alkali metals in the blast furnace. Many of them deal with the-theoretical role f alkali cyanides in the furnace. Several discuss the, probable effect of the alkalies on the furnace brickwork. Two or three ambitious patents have been granted for reclaiming potash or other products from blast-furnace gas. However, we have heard nothing further as to the practical application of these patents. Little literature of importance has appeared during the last 10 years concerning alkalies in blast-furnace practice, and I have discovered no record whatsoever as to the actual sale or commercial disposal f flue dust for its , potash content until this was inaugurated in our plant at Bethlehem. A bibliography of the most important articles discovered is appended.

Jan 1, 1917

By Earl C. Henry

Magnetic iron ore was mined in Essex County, N. Y., during the American Revolution; Benedict Arnold is said to have mined ore near Port Henry to secure iron for chains and spikes for the Lake Champlain fleet. Details regarding the operations prior to 1804 are not easily obtained but work on a commercial scale appears to have been started about 1838. The Witherbee, Sherman & Co. was established in 1849. The property of the district is held in fee almost entirely by the mining companies. The Mineville iron-ore district, as well as the entire Adirondack region, belongs to the pre-Cambrian complex. The readily identified rocks consist of gabbro, anorthosite, syenite, and granite, and are classed as igneous, eruptive, and intrusive. In addition, there is a great variety of gneisses, rocks with a variable mineral composition but all more or less distinctly foliated. The Grenville series are the oldest rocks in the district; this series consists of graphitic white limestones, graphitic sandstones, and quartzites and gneisses with or without graphite. The orebodies occur in the gneissic rocks and are comformable to the structure of the rocks. The typical occurrence of the ore in this district is in lenticular bodies with a parallel pitch to the southwest; this structure is best exemplified in the New Bed mine. The Harmony and Old Bed orebodies are faulted by two sets of diabase dikes, one set having a southwest strike and the other set an east-west strike. The ores occurring in the acid gneissic rocks are non-titaniferous. The ores occurring in the gabbros and anorthosites are high in titanium; these deposits are irregular, have no structural relation with one another, and are unquestionably of igneous origin. The origin of the gneissic rocks and the ores therein contained is not settled; both the sedimentary theory of ore concentration and the igneous theory of magmatic segregation have been advanced. The iron mineral in all the orebodies is crystalline magnetite; some very perfect and large specimens have been obtained. The gangue is

Jan 1, 1925

By H. W. Weart, S. Sarian

The effect of temperature, impurities, and capillarity on the morphology of solid particles in a liquid matrix is investigated. For the NbC-liquid iron system, at least, it is found that those particles which are dissolving will assume a spherical shape; all others will take the equilibrium shape. An aniso-tropic-isotropic transition in the interfacial tension is observed at about 1725°C and is believed to be due to cooperative roughening of the interface on an atomic scale. The presence of boron as an impurity lowers the transition temperature. It is the purpose of this paper to present some observations on the shape of particles in a system consisting of solid particles of nonuniform size in a liquid matrix and to propose an explanation for these observations. Although qualitative only, these observations, which were made largely in the course of a study of particle-growth kinetics,' are presented separately to draw attention to them. They reveal the effect of particle size, temperature, and surface-active impurities on particle shape in the solid NbC-liquid iron system, and are unique in demonstrating for the first time the reversible effect of temperature and impurity concentration on the anisotropy of the energy of the solid-liquid interfaces involved. Some of the changes are readily demonstrated with the few particles whose shapes can be clearly shown in a single photomicrograph, but others are more subtle, and their recognition depends upon some experience and the study of a much larger sample. For this reason, a certain amount of judgment must be acknowledged to underlie their detection, but every effort was made to maintain proper scientific objectivity in evaluating the observations. The observations will be presented first, and then an explanation rationalizing them will be offered. Brief reminders of the relevant theories will be inserted into the discussion at the appropriate points. EXPERIMENTAL The observations were made of the shape of NbC particles dispersed in liquid iron. All specimens were prepared by pressing NbC powder and car- bony1 iron powder treated according to standard powder-metallurgical procedures. Except as noted, all specimens were heated to 1900°C for 1/2 hr. In investigating the effect of temperature, specimens were quenched from 1900°C to various lower temperatures, and held long enough (48 hr) to allow shape changes to be completed. Boron, in the form of amorphous powder, and oxygen, in the form of niobium oxide powder, were added as impurities to some specimens. Nitrogen was introduced into some specimens as an impurity by heat treating the samples under a partial pressure of nitrogen gas. Effect of Temperature. It was first observed that increasing temperature had a marked effect in rounding the corners and edges of the particles. At 1900°C the particles are all very nearly spherical and remain so even when the holding time is extended to 48 hr. As can be seen from Fig. 1, there is virtually no evidence of the presence of low-index planes. At 1300°C, however, most of the particles are prismatic with very slightly rounded edges and corners, Fig. 2. (In making these shape comparisons, attention should be focused on the larger particles, even though the smaller ones would be expected to be the first to change shape, owing to the shorter diffusion distances involved. The cause of the mixed particle shape will be explored later.) It was established that these structures are re-

Jan 1, 1965

By David White

IN these days, when detailed investigations of stratigraphy, structure, and sand conditions so frequently result in the discovery of new oil fields, and applause from oil companies and the public, geologists do well to walk humbly, and punctiliously to admit that the geologic principles controlling the distribution of oil and gas have as yet been discovered only in part, and that what remains yet to be learned is probably vastly more than what is already known. The few experiments already at-tempted have been fragmentary, and somewhat desultory, and however positive each of us may be with respect to certain theoretical conclusions, many of the fundamental questions as to the origin and mode of occurrence of petroleum are subject to radical disagreement. Of the chemical changes attending the generation of petroleum from organic matter, little is actually known. Most of the postulated formulas are liable to be misleading, through ignorance of essential factors. Open-mindedness is therefore a prime essential at the present stage of our science. Nevertheless, adopting the hypothesis that oil originates in some manner fundamentally connected with the organic theory, and in possible departure from such open-mindedness, the writer will pay no attention to the so-called inorganic theory, since every attempt to apply this theory to the study of old oil fields, or to the discovery of new ones, affords cumulative evidence of its inadequacy. In this paper, some of the factors affecting the occurrence of petroleum that the writer believes worthy of consideration by the prospector for oil in any new region will be discussed. Some of these, which are less generally understood, will be considered somewhat in detail. Other points, the significance of which cannot now be determined, require more field study, and for that reason are here brought to the attention of the field geologist. On the other hand, certain theoretical points which do not bear especially on the oil possibilities of a new region will be given little

Jan 2, 1920

By Paul M. Tyler

DOES mining pay? Inasmuch as the whining of minerals from Nature is one of the world's principal sources of new wealth, this question is of general economic interest but it is obviously of even more vital concern to investors and those engaged in mining. In a previous article on "Wage Costs in the Mineral Industries,' published in the November issue, I attempted to show that wages paid workers on the job accounted for, roughly, 50 per cent of the mine dollar. Salaries normally range over 5 per cent - lower for large metal mines but higher in stone quarries and minor nonmetallic min. in, industries. Purchases of supplies, materials. fuel, and power generally aggregate within the range of 15 to 25 per cent of total receipts, with the average well under 20 per cent. The total of all such specified expenditures which may he loosely described as

Jan 1, 1934

By C. L. Pillar

INTRODUCTION The location, size, character of the ore de- posit and its adjacent formations will deter- mine the mining system best used for its ex- traction. The mining system chosen will have to be engineered to suit the ore deposit and the people that will extract it. What can be done in the Philippines cannot always be accomplished in the upper Northwest Territory of Canada. Mining operations developed under a free enterprise system are planned to achieve a satisfactory return on the capital required to place them into production. Hence, the choices made in planning and developing the mining system must be dictated by sound economics. The mining system planned must favor: 1. Maximum ore extraction of the deposit with minimal grade dilution. 2. The amount of capital expenditure used to develop and equip the mine must be in harmony with the financial policy of the group yet be sufficient to provide a reliable mining system. Excessive frills and extras that are not required for efficient, safe production should not be provided. 3. Mine production costs are determined by the amount of men, material, equipment and energy used in the production process. These must be kept to minimal limits in order to insure dependable, low cost production. Extras that later are needed in the production operation can be added as required by the operator. Basically block caving is a mining system that is normally used to extract deep seated, massive, low grade deposits of copper, molybdenum and iron where stripping ratios for open cast mining are economically prohibited. The caving system is limited in its selectivity. It is a mass production type of underground ore extraction that under favorable conditions is one of the most efficient, low cost mining systems in the world today. Usually block cave mining systems are large. They are capable of producing ore at a rate of 10,000 to 100,000 tons/day from large deposits at costs that are comparable with many open cast mining systems burdened by high waste to ore ratios. Block cave mining systems differ basically in the plan of the area layout, the method of undercutting and the method of draw. The balance of the mining system is the mechanical transportation of the drawn ore to the surface, the mine supply, drainage and ventilation systems. This paper deals mainly with the methods of draw. The method of draw to be used in a block caving system dictates the development plan of the mining area, is highly influential in the method of undercutting to be employed and the supply and ventilation system to be used. There are three basic methods of draw commonly used in today's operations. They are: Gravity draw Slusher draw LHD draw The type of draw planned will have a major affect on: Capital expenditure and time required to bring a deposit into production. Productivity, efficiency and cost of the production operation. Percent recovery of the ore deposit in both tonnage and grade. Degree of production reliability Fundamentally the type-of draw used must be compatible with the physical characteristics of the deposit to be extracted and the financial position of the mining operation. The type of draw chosen must work to advantage with the size, configuration, depth, strength and fracture pattern of the deposit and its adjacent formations. It must favor the financial protection of the planned mining operation. A Gravity Method of Draw requires a finely fragmented, easy flowing product from the caving action of the deposit. To obtain the desired economic advantage the ore deposit must also have sufficient area and height of column to permit minimal development cost on a per ton basis. The gravity system re- quires the maximum amount of development openings and uses the minimum amount of mechanized equipment of all the caving systems. It is unskilled, labor-intensive and is highly sensitive to size of ore fragmen-

Jan 1, 1981

By C. E. Armantrout, J. A. Rowland, D. F. Walsh

THE close-packed-hexagonal structure of mag-J- nesium is converted to a ductile and malleable body-centered-cubic lattice by the addition of lithium in excess of 10 pct. Further, the density of magnesium or magnesium-base alloys is decreased by additions of lithium. The practical possibilities of such alloys as a basis for uniquely light, malleable, and ductile structural materials were pointed out by Dean in 1944' and by Hume-Rothery in 1945.2 It was apparent to these investigators, however, that more complex compositions would be required if strengths sufficient for structural applications were to be developed in these alloys. In a search for strengthening additions, various investigators w have examined a number of the ternary and more complex alloys containing magnesium and lithium. An investigation of the fundamental characteristics of these alloys was undertaken by the Bureau of Mines. The investigation was initiated with a study of the magnesium-rich corner of the equilibrium diagram for the ternary system, Mg-Li-Al. The following data from published investigations of Mg-Li-A1 alloys were available: 1—a description of isothermal sections at 20" and 400°C through the Mg-Li-A1 constitution diagram by F. I. Shamrai;' 2—a diagram by P. D. Frost et al." showing approximate phase relationships at 700°F for a number of the Mg-Li-A1 alloys; and 3—diagrams showing the constitution at 500" and 700°F for the Mg-Li-A1 alloy system published by A. Jones et al.' Where compositions and temperatures permit comparison, these diagrams show disagreement. The 700°F isotherms of Frost and Jones differ only in the placement of the phase boundaries. But Sham-rai's 400°C (752°F) isotherm shows a variation in phases as well as in phase boundaries. Although rigid comparison of these different isothermal sections might not be justifiable, it seems impossible to reconcile Shamrai's construction with the isotherms of Frost or Jones. The isothermal sections presented in this paper were prepared to determine compositions which might be suitable for age hardening and to develop the general slope and placement of the various phase boundaries in the magnesium-rich corner of the diagram. Sections at 375", 200°, and 100°C were selected for investigation. In constructing these sections, the solubility of aluminum in magnesium, as reported by W. L. Fink and L. A. Willey Vn 1948, was used at the binary Mg-A1 boundary and the solubility of lithium in magnesium was obtained from the equilibrium diagram for that system as reported by G. F. Sager and B. J. Nelson" in the same year. The solubility of magnesium in lithium was determined experimentally and conforms in general to data reported by P. Saldau and F. Shamrai." Parameters for AlLi and MgI7A1, were taken from American Society for Testing Materials X-ray diffraction data cards. Experimental Procedures Although the isothermal sections presented in this paper are not unusually complex, the experimental techniques involved in their construction are made extremely difficult by the relatively high vapor pressure of lithium and the great chemical activity of both magnesium and lithium. Because of these characteristics, which make precise control of the composition of equilibrium-treated filings practically impossible, the disappearing phase method was used in preference to the parametric method in conjunction with metallographic studies. The alloys used in this investigation were melted and cast in an atmosphere of helium using a tilting-type furnace which enclosed a steel crucible and mold in a single unit. Each portion of the charge (500 to 600 g) was cleaned carefully just before placing it in the crucible; and the charge, crucible, and entire melting apparatus were evacuated and then washed with grade A helium while preheating to approximately 100°C. The alloys were melted and chill cast in an atmosphere of helium. Alloys prepared in this way were relatively free from inclusions and a fluxing treatment was considered unnecessary. The cylindrical ingots obtained were scalped and then reduced 96 pct in area by direct extrusion, yielding % in. diam rod. Sections of the rod, approximately 3 in. long, were given equilibrium heat treatments and then sampled for metallographic examination, X-ray diffraction study, and chemical analysis. The surface of each equilibrium-treated rod was machined to a depth sufficient to insure removal of contaminated material before samples for chemical analysis or X-ray diffraction study were obtained, and all decisions on microstructure were based on the examination of the central portion of the metallographic specimen. All specimens homogenized at 375°C were analyzed after this equilibrium heat treatment. When the composition of an alloy placed it in a critical area of the 200" or 100°C isothermal section, a check chemical analysis was made on a sample taken from the alloy specimen as-heat-treated at the particular temperature. Standard chemical procedures of gravimetric analysis were used in the determination of magnesium and aluminum; lithium, potassium, and sodium were determined by flame photometer methods

Jan 1, 1956

By T. M. Williams

DURING the year just ended we have had three great fires in the mines in the Wilkes-Barre district. One at the Empire Colliery, one at the Prospect shaft, and the other at the Baltimore old mine. It is proposed in this paper to give a brief history of the fire at the Empire Colliery, and the methods employed in extinguishing it. The fire was first discovered breaking out in the air-stack, alongside what is known as the " Kidder Plane," about one o'clock on the morning of December 31st, 1873. Subsequently it was ascertained that the fire originated in the return airway somewhere near the steam boiler, located inside the mine, near the head of No. 5 slope. The coal from this slope was hoisted to the shaft gangway, at a point nearly four thousand feet distant from the foot of the shaft. As there were from four to five hundred mine cars hoisted per day from this slope the steam boilers were located at this place. The mines being of considerable extent required a large volume of pure air for ventilation, and no fan having been erected at this slope at the time, the heat from the boiler was made use of to assist ventilation, by conveying the return air from No. 5 slope into the large airway made from these boilers to the surface through the old "Kidder slope" to the stack where the fire was first discovered. The length of this slope or airway was about one thousand feet, with a sectional area of about sixty feet. The quantity of air passing through it must have been over sixty thousand cubic feet per minute

Jan 1, 1875

By T. M. Williams

DURING the year just ended we have had three great fires in the mines in the Wilkes-Barre district. One at the Empire Colliery, one at the Prospect shaft, and the other at the Baltimore old mine. It is proposed in this paper to give a brief history of the fire at the Empire Colliery, and the methods employed in extinguishing it. The fire was first discovered breaking out in the air-stack, alongside what is known as the " Kidder Plane," about one o'clock on the morning of December 31st, 1873. Subsequently it was ascertained that the fire originated in the return airway somewhere near the steam boiler, located inside the mine, near the head of No. 5 slope. The coal from this slope was hoisted to the shaft gangway, at a point nearly four thousand feet distant from the foot of the shaft. As there were from four to five hundred mine cars hoisted per day from this slope the steam boilers were located at this place. The mines being of considerable extent required a large volume of pure air for ventilation, and no fan having been erected at this slope at the time, the heat from the boiler was made use of to assist ventilation, by conveying the return air from No. 5 slope into the large airway made from these boilers to the surface through the old "Kidder slope" to the stack where the fire was first discovered. The length of this slope or airway was about one thousand feet, with a sectional area of about sixty feet. The quantity of air passing through it must have been over sixty thousand cubic feet per minute

By S. E. Bretherton

THIS title introduces the subject I wish to describe to my fellow members, very few of whom, I hope, have ever had as much trouble with the smelting of ore containing much zinc, either in the lead blast furnace or the matting furnace, its circumstances have forced upon me: First, for several years in Leadville, Colo., after the sulphide ores containing zinc had been developed with greater depth and were sold to the interests with which I was connected for smelting in the blast furnace for the recovery of the lead, silver, and gold; then, in New Mexico and Arizona, where the principal source of ore supply for our custom smelter was from miners who sent most of their product in the form of concentrates, which we briquetted and smelted in the blast. furnace, producing a matte containing copper, silver, and gold, for which we were paid; together with some zinc and lead, which was penalized if in excess of a maximum base set by the refinery to which we sold our copper matte; last, but not least, my experience in Shasta county, Cal., where for the sake of recovering $13 per ton value in copper, silver, and gold, I have smelted ore containing as high as 40 per cent. zinc (the last. 18,951 tons smelted averaged 15 3/10, per cent. zinc) which we not only lost, but which it cost us money to lose.

Jan 8, 1913