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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 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 Rclssell Gibson, F. S. Turneaure

The tin deposit of Monserrat; Bolivia, consists of one major vein 1600 m in length. The ore is unusual because of the notable quantity of teallite, even though cassiterite is the principal tin mineral. The deposit, formed at shallow depth under a wide range in temperature, may be classed as xenothermal. Polished sections reveal a complex history of replacement, with low-temperature minerals deposited before high-temperature minerals.

Jan 1, 1950

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 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

By J. B. Newkirk, W. G. Martin

Oxidized cobalt powder is known to have a magnetic hysteresis loop which is asymmetric with respect to the magnetization axis. The experiment described herein shows that the orientation relationship between the basal plane of hexagonal cobalt and the oxide which forms upon it at 400°C is {111}ux//{100.1 }co <110>ux//<11.O> This orientation relationship allows a magnetic interaction between the antiferromagnetic oxide and the ferromagnetic substrate which could account for the offset hysteresis loop. Oxidized nickel powder has a symmetrical hysteresis loop and so is apparently not influenced by any magnetic interaction between metal and oxide. The orientation of the oxide (cubic) was found to be identical with that of the nickel substrate when the oxide forms on a polished surface parallel with {111} Ni. IN 1956 W. H. Meiklejohn and C. P. Bean discovered that fine particles of cobalt which had been prepared in a certain way have a magnetic hysteresis loop which in a strong field is asymmetric relative to the magnetization axis.&apos; The cobalt powder exhibited this unusual magnetic property only after it had been oxidized in air or oxygen; it lost the shifted hysteresis loop when the oxide was reduced in hydrogen. X-ray and neutron diffraction&apos; experiments showed the presence of cobaltous oxide (COO) and hexagonal cobalt in samples exhibiting the biased hysteresis loop and specifically showed no indication of any other compound with the exception of mercuric oxide.* The magnetic hysteresis loop becomes symmetrical above the Nee1 temperature (paramagnetic state) of COO. Therefore, it was concluded that the anomalous magnetic behavior is associated with the influence of cobaltous oxide upon the metallic cobalt. It has been proposed that crystallographic coherency may exist between the cobalt and a plane of some antiferromagnetic material which has unbalanced spin distribution and sufficient magnetic anisotropy to hold its spin in the direction which existed when the specimen was cooled. COO has these properties. Therefore, Roth&apos; has suggested that cobaltous oxide may form with a {111} plane parallel and coherent with the basal plane of the hexagonal cobalt metal and proposed that, as consequence of the antiferromagnetic interaction between COO and the underlying cobalt, the magnetization direction in oxidized fine Co particles may be ro-lated from the easy c-direction.2 Such a relationship, he proposed, would explain the observed magnetic effect in oxidized cobalt powder. The main purpose of this study was to determine the orientation relationship, if any, between the basal plane of cobalt and the oxide which forms upon it. Attempts to produce a film of COO which was strong enough to be handled were not successful. However we did succeed in making a film of CoCo2O, which was strong enough to be removed from the cobalt substrate and mounted on an electron-microscope grid. Because of the close structural similarity of COO and CoCo2O, we believe the orientation relation found for CoCo2O, on cobalt probably also holds for COO on cobalt. The epitaxial relationship of NiO and Ni also was investigated. To date no shifted hysteresis loop has been observed with nickel powder. However, the similarity of atomic array in cobalt and nickel leads to the prediction that a {111} of NiO may be parallel with a (111} of nickel. Experimental Method Cobalt-Cobalt Oxide—A coarse-grained specimen of a (hexagonal) cobalt was prepared by allowing a large crystal of fee cobalt to transform slowly at 400°C. The crystal was then cut to expose a surface parallel with the basal plane. A back reflection Laue X-ray photograph showed that the 00.1 plane was within 2" of the cut surface. The surface was mechanically polished and then electro polished in 85 pet orthophosphoric acid after which the crystal was held for 30 min at 400°C in air. During this heat-treatment the surface darkened slightly due to the oxide film which formed. The film was not thick enough to give an X-ray diffraction pattern, even by a glancing-angle technique. Glancing-angle electron diffraction was not possible either, owing to the interference of the electron beam with the high magnetic fields which exist at the 00.1 surface of the cobalt. However, it was possible to make an electron-diffraction photograph of the oxide film by stripping it from the cobalt substrate using the method described later. By maintaining reference marks carefully, it was possible to preserve the orientation relationship between the stripped film and the substrate on which it was formed. The oxidized surface of the crystal was first covered with a 1 pet solution of collodion (cellulose nitrate) in amyl acetate. When the film was dry, small rectangles were scored on the surface with a needle point. The specimen was then repolished

Jan 1, 1959

By Mara Kosovac, Sujan K. Kundu

The Iron Ore Co. of Canada (IOC) has developed a computerized plan analysis method for its open-pit iron mining operations which will eliminate much of the tedious manual drafting of pit design plans performed by engineers and geologists at its two major operational areas near Schefferville, Que., and Labrador City, Nfld. The new technique permits analysis of section or bench plans for a specific ore body, based on drillhole information; preparation of a three-dimensional unit profit matrix for pit design purposes, and storage of extensive ore-block information for other applications. Other advantages include enhanced design accuracy through reduction of human errors normally associated with preparation of large data masses, and by elimination of errors inherent in planimeter-prepared ore block diagrams.

Jan 7, 1978

By R. D. Nelson, J. C. Shyne

The ß and a ß transformations in plutonium were studied with particular emphasis on the transformation kinetics and microstructure. Significant observations are: 1) The kinetic data show conclusively that the ß — a transformation in high-purity plutonium can proceed isothermally with no athermal component. 2) Plastic deformation of the stable (3 phase retards the subsequent (3 — a transformation. 3) Plastic deformation of the stable a phase accelerates the a — ß transformation; the acceleration is attributed only to residual stresses. 4) The a and a?a volume changes occur anisotroPically in textured plutonium. 5) An apparent crystallogvaphic relationship exists between the parent and the product phases of the and (3 — a transformations. 6) Both applied uniaxial compressive stresses and uniaxial tensile stresses raise the starting temperature for the ß — a transformation. 7) A given uniaxial tensile stress favors the a — ß transformation more than an equivalent applied uniaxial compressive stress opposes the transformation. These observations of the (ß —a and a — ß phase changes in plutonium are consistent with known mar-tensitic transformations. ThIS paper elucidates some of the characteristics of the a— ß and ß —a transformations in plutonium. Because considerable conjecture exists about the mechanisms by which the phase transformations occur in plutonium, experiments have been performed to provide indirect information concerning the mechanisms responsible for the a —ß and ß -a transformations. Indirect information is of particular value in the study of plutonium because of the experimental difficulties presented by the metal. Single crystals have not been produced in any of the allotropes. The large density results in high X-ray and electron-absorption factors and consequently complicating X-ray and electron diffraction. The kinetics of ß — a and a — ß transformations of plutonium and the behavior of the transformations under a variety of conditions have been investigated in detail. Information about the mechanisms of the allo-tropic transformations of plutonium was obtained indirectly from three sources: 1) the effect of plastic deformation of the stable parent phase upon the transformation kinetics; 2) the behavior of the metal transforming under applied stresses; and 3) the microstruc-tural and crystallographic features between parent and product phases. PHASE-TRANSFORMATION CHARACTERISTICS In characterizing solid-state phase transformations in metals and alloys, it is useful to define several types of transformations. An aim of the present work was to identify the low-temperature transformations in plutonium by type, i.e., as martensitic or nonmar-tensitic. Practical definitions for these terms follow. The terms commonly used to categorize phase transformations lack universally accepted definitions. This confusion arises doubtlessly because some terms specify crystallographic or morphological character while other words have a kinetic or a thermodynamic connotation. For example, martensitic specifies certain definite crystallographic restrictions. Unfortunately, martensitic is sometimes used in an ill-defined way to imply kinetic characteristics. Further confusion attends the use of such expressions as nucleation and growth, diffusional, and massive. From time to time new systems of phase-transformation nomenclature are suggested; unfortunately none of these has gained general acceptance.1,2 The authors of the present paper have no intention of entering the controversy. We recognize that some readers may object to the nomencliture used here. For exampie, the terms military and civilian have recently been used in much the same way as martensitic and non-martensitic are used in this paper. This paper is intended to describe several specific details of the low-temperature phase transformations in plutonium. The authors have found it useful to identify these transformations as martensitic; the term was chosen as the best available to describe the experimentally observed features of the transformations studied. A martensitic transformation is one that occurs by the cooperative movement of many atoms; the rearrangement of atoms from parent to product crystal structure occurs by the passage of a mobile semico-herent growth interface. The geometric features characteristic of a martensitic transformation are a specific orientation relationship between the product and parent phase lattices, a specific habit-plane orientation for the growth interface, and a shape change with a specifically oriented shear component. There is no alloy partition between the parent and product phases in a martensitic transformation. Martensitic transformations may display either athermal kinetic behavior or thermally activated isothermal kinetic behavior. Some martensitic transformations occur isothermally, although more commonly martensitic transformations are athermal. Isothermal martensitic transformations are suppressible by rapid cooling. In athermal martensitic transformations, nucleation and growth are not thermally activated and the transformations are essentially time-independent. Nucleation, growth, or both can be thermally activated in isothermal martensitic reactions. Transformation of the parent phase into a marten-

Jan 1, 1967

By Wilson B. Emery

The Hidden Dome gas field, situated in Washakie County, Wyoming, was discovered Sept. 26, 1917. Subsequently five additional gas wells were completed and a large reserve was developed. For a number of years this field completely supplied the domestic market at Basin and Greybull, as well as the refinery at the latter town, and it is still supplying gas in small amounts to this market. Production is obtained from the sands of the Frontier formation at depths ranging from 1000 to 1500 ft. The original rock pressure was 725 Ib. and initial production ranged from 4,000,000 to 28,000,000 cu. ft. per day per well. Porosity of the sand, determined from the size of the productive area and the amount of gas recovered, is over 18 per cent. Area and Management It is estimated that the productive area is about 640 acres. Its outline is indicated on Fig. 5, on which are also shown the locations of holes drilled on the structure and the area of unit operation. The unit area is owned by the Ohio Oil Co. and development and operation have been by this company. No productive well has been completed outside this area. The entire area was Government land filed on under the placer mining law. Results of Unit Operation With six producing wells, or an average of one to each 160 acres, the pool is completely developed. Location of the wells was made with respect to structural conditions plus the requirement that at least one well be drilled on each 160-acre placer claim. Perhaps a somewhat more uniform spacing of the wells might have been accomplished and one well eliminated, but it must be borne in mind that the holes, on account of their shallow depth, were not expensive and that the object was to develop as reliable a reserve as possible. There is no cause to suspect that these holes have not adequately drained the reservoir and there is every reason to think that any additional wells, which might have been drilled under diversified ownership and operation, would have been an economic waste. Unit operation by a competent company has not only resulted in the elimination of loss of gas through careless development and operation

Jan 1, 1930

By Hugh M. Roberts, R. D. Longyear

Introduction ............................ 27 GEnERal Geology........................... 29 The ORebodY in Western Falco~ridgI TownsRip........... 31 Quartzite-Graywacke Formation................... 33 Greenstone............................ 33 Norite ............................. 33 Metamorphism.......................... 35 The Orebody........................... 36 Mineralogy ........................... 37 Grade of Ore........................... 42 Genesis oF tEe Ores . :....................... 43 Summary of Various Hypotheses.................. 44 Magmatic Segregation by Crystallization of Sulphides........ 44 Gravitational Segregation of Molten Sulphides at the Base of the Magma 45 Intrusion of Molten Sulphides after the Consolidation of &apos;he Nurite.. 45 Deposition by Hydrothermal Solutions.............. 46 Magmatic Segregation by Extraction from Crystallizing Norite... SO The Relationship between the Exploration and Theories of Origin .... 50 Volume Relations of Norite and Sulphides............... 62 Intimate Association of Norite and Sulphides............. 53 Granitic Material........................ 54 Uniform Content........................ 54 Sulphides in Walls......................... 54 Absence of Typical Hydrothermal Minerals.............. 55 SUmmaRY................................ 56 Introduction During 1916 and 1917. the E. J. Longyear Co. of Minneapolis. Minn., carried out a campaign of exploration for nickel-copper ore in the Sudbury District of Ontario. The work was initiated by W. E. Smith. a resident of Sudbury. who called the attention of W. J. Mead. Chief Geologist

Jan 1, 1918

By Anwar-ul Karim

In one of our recent papers, Cheng, Karim, Langdon, and Dom1 analyzed the creep mechanisms in a Fe-4 pct Si alloy. The experimental results of apparent ac-

Jan 1, 1970

By Richard E. McElvain, I. Cave

The selection of centrifugal pumps for mill discharge duty should be based on the total circuit concept. The practice of operating the mill circuit based on limitation of the pump can result in losses in one day which would offset the pump cost. Operating data from 25 grinding circuits have been reviewed and comparative results on added mill capacity have established advantages far beyond the less significant maintenance costs with increased circulating load and better cyclone operation. Mill discharge pumps should be selected on the following basis: i) Best available design for wear performance ii) Size to provide best economic life iii) Liner material best suited to circuit conditions Pump efficiency is a secondary consideration because power consumed by pumps is small compared to mill power input. Energy dissipated in mill pumps is contributing to comminution of ore.

Jan 1, 1982

By W. Mckewan, W. M. Fassell

The oxidation rates of copper have been determined at temperatures from 600" to 900°C in oxygen from 14.7 to 400 psi total oxygen pressure. The oxidation rate of copper is unchanged by oxygen pressures within the range studied. The observed data extend Feit-knecht&apos;s conclusion concerning the pressure independence of copper from atmospheric pressure to 400 psi. All samples studied in the above-mentioned temperature and pressure range have both Cu2O and CuO present in the oxide film. NUMEROUS papers have been published on the oxidation of copper, some of which have noted the effect of oxygen pressure on the oxidation rate of copper. It must be noted, however, that no data on the oxidation rates of copper at pressure in excess of 1 atm have been reported in the literature. (Le Chatelier¹ reported that a black oxide of silver was formed at 300°C and 15 atm pressure.) This is likewise true for the other metals. This investigation was initiated to obtain experimental oxidation rate constants for pure metals at elevated temperatures and high oxygen pressure. Copper was selected as the first metal since probably more reliable data are available on its oxidation rates and related physical and chemical properties than for any other metal or alloy. As a general summary, the following conclusions appear well established for the oxidation of copper: 1—The oxide coating consists of Cu2O with a superficial coating of CuO providing the ambient oxygen pressure exceeds the equilibrium pressure for the coexistence of Cu2O and CuO.² The following sequence of phases is then Cu/Cu2O/CuO/O2 (gas). The Cu2O consists of large crystals that have no relation to the orientation of the metal crystals, except for a very thin layer adjacent to the metal." The CuO consists of very fine crystals randomly oriented. If the oxygen pressure is below the equilibrium pressure for the coexistence of Cu2O and CuO, the coating consists of Cu,O only. 2—The rate-determining factor in the parabolic oxidation of copper is the diffusion of Cu+ ions through the Cu,O layer.4,6,7 The Cu+ ions are accompanied by electrons to maintain electrical neutrality. The mechanism of the reaction at the Cu2O/CuO interface and the method of growth of the CuO is in some doubt. 3—On copper, there are three reported pressure effects: (a) At pressures below 0.3 mm Hg oxygen pressure, the oxidation rate increases directly with pressure.&apos;, &apos; .Vxygen starvation at the surface may account for this effect. (b) At oxygen pressures from 0.3 to 63 mm, the oxidation rate increases as the 7th root of the oxygen pressure providing the temperature is such that only Cu2O is present in the film. (c) At pressures from above the equilibrium pressure for the coexistence of Cu2O and CuO (varies with temperature) to atmospheric pressure, the oxidation rate is independent of the oxygen pressure.&apos; Equipment In order to determine the oxidation rates of metals in an oxidizing atmosphere at pressures up to 400 psi, the equipment is somewhat different than for low pressure work as is shown in Figs. 1 and 2. A Leeds and Northrup Micromax recording controller (A) is used to control the temperature of the Ni-chrome furnace winding in conjunction with a Micromax electric drive unit. The drive unit adjusts a 20 amp Variac (variable transformer) to control the power input into the Nichrome furnace winding. Due to the "self heating" of the sample by oxidation, frequently encountered in oxidation rate studies, it is essential that the sample temperature be measured independently. This is done by means of a series of six chromel-alumel calibrated thermocouples located spirally around the oxidizing metal sample. Each thermocouple is partially shielded from the direct radiation of the furnace wall by

Jan 1, 1954

By J. B. Austin, R. L. Rickett

MEASUREMENTS Of the rate of decomposition of austenite at constant temperature are commonly represented by plotting the percentage transformed on linear coordinates against time on either a linear or a logarithmic scale, a method that yields a curve that in shape resembles an integral sign (Fig. 1). A graph of this kind is not always convenient because extrapolation to the beginning or end of the transformation, or even interpolation, may be uncertain unless there are a large number of observations, which seldom happens; furthermore, the degree of consistency of a set of measurements is difficult to judge from such a curve. It is desirable therefore to find some mode of plotting, or even better to find a standard variety of graph paper, that gives a straight line instead of the integral shape. The straight line has many advantages; the number of readings required to fix the position of the curve is greatly reduced, interpolation is easy and rapid, extrapolation can be carried out with greater confidence and, finally, the consistency of the measurements is readily estimated from the scatter of the points. The last advantage is particularly valuable when the data are obtained by direct microscopic examination alone, because they are influenced by the skill of the observer in estimating the relative size of areas, possibly also by undetected inhomogeneity of the specimen. A search for ways of representing the observations as a straight line yielded two methods which are described in this paper. The paper also includes an account of some interesting relations brought to light in applying these methods to the available experimental data. Usually the best way to derive such a method of plotting is to base it on established principles of chemistry and physics, as has been done, for example, for the temperature variation of the equilibrium constant of a chemical reaction. But so little is known of the mechanism of the decomposition of austenite, and so little is available in the way of well established background for changes of this kind, that it is simpler to rely upon purely empirical means. The general plan therefore is to study existing data with a view to finding some function of the direct observations that will

Jan 1, 1938

By R. L. Tobie, H. W. Seaney

Over the years since 1956 when initial experiments were conducted on underground concreting in an attempt to cope with the ground weight and pressure encountered in the development of a large-scale underground block caving system, the use of monolithic concrete linings has grown to include most of the primary development in the mining area. Although the development cost of concrete linings is higher than either timber or steel-supported openings, the repair and maintenance costs are substantially lower, making concrete the most economical means of ground support. Other ad- vantages are also apparent, in that concrete provides superior fireproofing, better ventilation, and a safer, cleaner working place.

Jan 11, 1965

By G. H. BUCHANAN

ALTHOUGH the nomenclature of the chemical tools of flotation is probably familiar to you, it will do no harm to review it; . In order to make the terms more real I have employed an illustration which likens flotation to an old-fashioned balloon ascension, such as we witnessed in boyhood at the county fair. The mineral to be floated is the aeronaut, conspicuous in his gilt-spangled tights, who is to be separated from you and me and the other small boys who are standing about, said boys being the g-a-n-g-u-e, or g-a-n-g, as we would have spelled it. The oil film surrounding the bubble is the counterpart of the silken fabric of the balloon, and bubble and balloon will rise for. the same reason, namely. that the fluid outside it is heavier than the fluid within. In flotation reagent nomenclature the material of which the bubble is made is called the "frother.",

Jan 1, 1930

By Robert H. Merrill

In 1960, the Kennecott Copper Corp. and the U.S. Bureau of Mines entered into a joint research program to determine the changes in stress, strain, and displacement created by changes in slope angles. The field site was the Kimbley Pit, located near Ely, Nev. The supporting laboratory investigations were made at the Bureau&apos;s Denver Mining Research Center. Following a study to determine the rock stresses in the mining district, the strike and dip of geologic defects (fractures) in the rock, and the laboratory-determined strength of the rock, a new slope angle and pit configuration was selected, and instruments were installed to measure changes in stress, strain, displacement, microseismic noise rate, and sonic velocities at several points in the west wall of the pit. Between February and November 1966, the west slope was changed from an average angle of 45&apos; to a slope angle that started at 45° on the south wall, and gradually increased to 575&apos; at the center of the west wall, and to 61° on the north wall. The pit was deepened from about 500 ft to about 550 ft. About 2.55 million tons of waste and ore were removed by stripping and mining. Measurements made between November 1965 and September 1967 showed that the pit wall was stable before excavation began, that changes in the measured quantities occurred in the pit wall during the excavation, and that the wall returned to a condition of equilibrium after the mining was completed. The need for a method and the technology to pre-design a pit slope does not require elaboration. About 5 billion tons of material are excavated yearly by surface mining methods in the United States, and the economics, safety, and availability of lower grade metals, nonmetals and fuels could all be substantially improved if operators could preselect optimum slope angles. Mining companies and the Bureau of Mines have recognized the need for developing engineering methods to determine stable slope angles. In the industry, Kennecott Copper Corp. had been making an

Jan 1, 1969

By L. O. Howard

THE practice of using acid-lined converters at the plant of the Old Dominion Copper Mining & Smelting Co. was discontinued early in January, 1913, and they were replaced by basic-lined converters. The new equipment consists of one electrically operated 12-ft. upright converter stand and two basic-lined shells for same. These shells are provided with twenty-four 1 1/4-in. tuyères. The mouths are 5 ft. in diameter. Owing to the fact that there is no bedding system or other large storage capacity between the mine and the smelter, the furnaces must handle as fast as produced ore and concentrates, which may vary considerably from day to day, both in tonnage and copper content. Consequently the converter is often crowded to its utmost capacity by the frequent fluctuations in the daily matte supply. From the foregoing, it will be seen that in no way can the converter be favored by running light charges or by transferring to it from other stands in operation. Neither can it regularly be allowed to cool between blows, and only occasionally can it be run at as low a temperature as might be wished. No copper precipitate or other foreign material high in copper is available to help out the tonnage. Repairs and alterations or the removal of defective tuyères must wait until such time as a slight falling off in the matte supply-allows the converting operations to ease up. These variable conditions all combine to interfere with the systematic operating of the converter.

Jan 7, 1914

By W. P. Lass

The purpose of this article is not only to describe the plant and method of cyaniding the Treadwell concentrates, but to present some of the results of the experimental work obtained in the past three years for the Alaska-Treadwell Qold Mining Co., at Douglas Island, Alaska, under the direction of F. W. Bradley, Consulting Engineer, and Robert A. Kinzie, General Superintendent, of the affiliated companies. At the time the experimental work was undertaken the concentrates were being shipped to the smeltery at Tacoma, Wash., and the cost for treatment of 3-oz. (gold) concentrates was $11.95 per ton, divided as follows : Smelting-charges,......... $4.00 Loading, freight, insurance, etc., . 2.89 Interest due to time loat in transit and in settlement,... 0.05 Loss due to settlement for 95 per cent. of the gold at $20 per ounce, 6.01 Total,...$11.95 From the experimental work described later, it was estimated that 96 per cent. extraction could be made by treatment on the ground, and that the cost, when treating 80 tons per day, would be $3.25 per ton, divided as follows : Per Day. Per Ton. Labor,. $86.16 $@.827 Chemicals,.76.60 0.960 Power and steam-heat,... 67.60 0.845 Marketing-, refining- and other charges, . 49.36 0.617 Totals,.. $2.59.72 $3.250 Adding to this total the 4 per cent. treatment-loss, which on 3-02. concentrates amounts to $2.48, gives a total cost of $5.13 per ton. Comparing this with $11.95, the cost when shipping to the smelter, leaves a net gain of $6.22 per ton by the local

Jan 1, 1912

By AIME AIME

A MODERN copper reduction works has both a genera1 chemical laboratory for control work and a research laboratory for the study of improvement of present processes and better working-up of by-products. The division of work in the general laboratory would naturally differ in different plants. The following statement to the writer from a chemist in one of the works will give a good idea of the type. of work in the general laboratory :

Jan 1, 1929