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By E. A. Anderson, P. W. Ramsey, E. J. Boyle

Only a few zinc-rich alloys are in commercial use today, and these depend largely upon solid solution effects for their desirable properties. Typical examples are rolled alloys containing about 1 Per cent of copper, with Or without additions of elements such as magnesium, and die-casting alloys containing about 4 Per cent of aluminum with small amounts of magnesium and sometimes copper." A number of elements are capable of forming alloys with zinc, Which do not enter into solid solution except in limited degree. The Present Paper considers One such system, zinc-titanium, in which alloys having potentially useful properties in the rolled form were found. Zinc-titanium System The zinc-rich portion of the zinc-titanium diagram, as determined by standard methods in this laboratory,3 is shown in Fig. I. The portion of the diagram of significance in the present work extends from 0 to about 0.5 per cent titanium. Gebhardt4 places the eutectic at 0.45 per cent, but the evidence in favor 01 the composition given in Fig. I is considerable. The solid solubility of titanium in zinc is very low indeed and possibly places these alloys in a somewhat different category from the commercial alloys previously mentioned. Alloy Preparation All of the alloys used in this work were prepared with titanium metal of 98.9 per cent purity. In most cases high-purity zinc (99.99 per cent) was used but sufficient work was done later to show that zinc of about high-grade composition would yield approximately equal results. Best practice in alloy manufacture seemed to be to prepare a zinc-titanium hardener by adding about 4 per cent of titanium metal to molten zinc and holding under a boric acid cover, with frequent stirrings, at 750°C, until the titanium had dissolved. The desired titanium content could readily be obtained in the final alloy by adding the calculated amount 01 this hardener. The alloys proved to be quite stable in composition, unless overheated, and, with reasonable temperature control, required no cover or flux to prevent loss of titanium content by oxidatioll, Hot-rollig Tests Three alloys containing, by analysis, 0.05, 0.12, and 0.23 per cent titanium were selected for preliminary study. Slab cross sections a a marked grain refinement* (Fig. 2) in the two alloys of highest titanium content. Cast unalloyed zinc has a columnar grain structure similar to that shown for the alloy of lowest titanium content but without the scatter of small equiaxed grains at the center.

Jan 1, 1944

By P. W. Ramsey, E. J. Boyle, E. A. Anderson

Only a few zinc-rich alloys are in commercial use today, and these depend largely upon solid solution effects for their desirable properties. Typical examples are rolled alloys containing about 1 Per cent of copper, with Or without additions of elements such as magnesium, and die-casting alloys containing about 4 Per cent of aluminum with small amounts of magnesium and sometimes copper." A number of elements are capable of forming alloys with zinc, Which do not enter into solid solution except in limited degree. The Present Paper considers One such system, zinc-titanium, in which alloys having potentially useful properties in the rolled form were found. Zinc-titanium System The zinc-rich portion of the zinc-titanium diagram, as determined by standard methods in this laboratory,3 is shown in Fig. I. The portion of the diagram of significance in the present work extends from 0 to about 0.5 per cent titanium. Gebhardt4 places the eutectic at 0.45 per cent, but the evidence in favor 01 the composition given in Fig. I is considerable. The solid solubility of titanium in zinc is very low indeed and possibly places these alloys in a somewhat different category from the commercial alloys previously mentioned. Alloy Preparation All of the alloys used in this work were prepared with titanium metal of 98.9 per cent purity. In most cases high-purity zinc (99.99 per cent) was used but sufficient work was done later to show that zinc of about high-grade composition would yield approximately equal results. Best practice in alloy manufacture seemed to be to prepare a zinc-titanium hardener by adding about 4 per cent of titanium metal to molten zinc and holding under a boric acid cover, with frequent stirrings, at 750°C, until the titanium had dissolved. The desired titanium content could readily be obtained in the final alloy by adding the calculated amount 01 this hardener. The alloys proved to be quite stable in composition, unless overheated, and, with reasonable temperature control, required no cover or flux to prevent loss of titanium content by oxidatioll, Hot-rollig Tests Three alloys containing, by analysis, 0.05, 0.12, and 0.23 per cent titanium were selected for preliminary study. Slab cross sections a a marked grain refinement* (Fig. 2) in the two alloys of highest titanium content. Cast unalloyed zinc has a columnar grain structure similar to that shown for the alloy of lowest titanium content but without the scatter of small equiaxed grains at the center.

Jan 1, 1944

By F. W. Bloecher, A. M. Gaudin

H. H. Kellogg—There is one point that the author has failed to emphasize sufficiently in his paper. What is commonly called the equilibrium contact-angle (the author's "maximum contact-angle") can have only one value on a smooth, flat, homogeneous surface under a given set of conditions. The equilibrium contact-angle is defined, for such a system, as the angle between the solid-liquid and liquid-gas interfaces, measured through the liquid. The value of the equilibrium contact-angle is uniquely determined by the value of the interfacial energies of the three intersecting interfaces and is independent of other forces in the system. When the liquid-gas interface intersects the solid at an edge—as was the case for all the experiments reported in this paper—the orientation of the solid-liquid interface is indeterminate or varies through 90" for a right-angle edge. Mr. Morris has called the angle between the horizontal and the liquid-gas interface for this edge condition a "static contact-angle." I feel that this term is unnecessarily misleading. In the first place, "static contact-angle" sounds too much like "equilibrium contact-angle." In the second place, the magnitude of the "static contact-angle," which I would prefer to call the "supporting angle," is determined by the forces in the system other than those derived from the interfacial energies, hence "contact angle" is misleading. If Mr. Morris had said that the "supporting-angle" is variable and depends on the weight of the particle and size of the bubble and that it has a maximum possible value equal to the equilibrium contact-angle, his discussion would have been more accurate. T. M. Morris (author's reply)—Mr. Kellogg puts forth a reasonable criticism of some of the terminology used in the paper. I agree that the term "static contact angle" may be misleading. Substitution of the term "supporting angle" or "vector angle" may be more suitable. F. X. Tartaron—In this paper the author presents a very interesting mathematical development of the forces present when a mineral particle adheres to an air bubble. Excellent concordance is obtained between mathematical formulation and experimental results. It is the writer's understanding that when the mineral surface presented to an air bubble is greater than the area of contact, the maximum contact angle is obtained. However, this contact angle represents distortion of the bubble, the normal shape of which is spherical or in cross-section, circular. This distortion produces a force that acts in opposition to the force of adhesion between the bubble and particle. Hence, at maximum contact angle, the force of adhesion between bubble and particle is at a minimum for static conditions. However, when the size of bubble is increased, the size of particle remaining the same (and all other conditions remaining the same), the contact angle decreases, the distortion of the bubble decreases and the force in opposition to adherence of bubble and particle also decreases. Thus, there is stronger attachment between bubble and particle. When this situation is applied to actual flotation conditions, it is doubtful that it has any significance. The reason is that the bubbles are normally so much larger than the particles, that in substantially all cases, it is probable that negligible distortion of the bubble takes place. In table IV, the author makes computations for bubbles from 0.50 to 2 mm diam. This is from 0.02 in. to 0.08 in. Certainly the bubbles generated in a flotation machine are far larger than this. The surfaces of the author's bubbles range from 0.79 to 12.6 sq mm. The area of contact of the glass rod (0.15 mm diam) is 0.017 sq mm. Thus, ratio of bubble surface to mineral area of contact ranges from 47 to 741 in round numbers. If we take a %-in. diam bubble and a 65-mesh (0.208 mm) particle of cubical shape, the ratio of bubble surface to mineral area of contact is 2931. Mineral particles do not readily become attached to air bubbles. Taggart has shown that in pneumatic flotation machines collector-coated particles are only temporarily attached to bubbles. They keep falling off and down in the froth but at a delayed rate as compared with gangue. Spedden and Hannan's motion pictures confirm the difficulty of attaching particles to air bubbles. In the agitation froth process, according to Taggart, air is precipitated from the water selectively on to the collector-coated particles and these

Jan 1, 1951

By F. W. Bloecher, A. M. Gaudin

H. H. Kellogg—There is one point that the author has failed to emphasize sufficiently in his paper. What is commonly called the equilibrium contact-angle (the author's "maximum contact-angle") can have only one value on a smooth, flat, homogeneous surface under a given set of conditions. The equilibrium contact-angle is defined, for such a system, as the angle between the solid-liquid and liquid-gas interfaces, measured through the liquid. The value of the equilibrium contact-angle is uniquely determined by the value of the interfacial energies of the three intersecting interfaces and is independent of other forces in the system. When the liquid-gas interface intersects the solid at an edge—as was the case for all the experiments reported in this paper—the orientation of the solid-liquid interface is indeterminate or varies through 90" for a right-angle edge. Mr. Morris has called the angle between the horizontal and the liquid-gas interface for this edge condition a "static contact-angle." I feel that this term is unnecessarily misleading. In the first place, "static contact-angle" sounds too much like "equilibrium contact-angle." In the second place, the magnitude of the "static contact-angle," which I would prefer to call the "supporting angle," is determined by the forces in the system other than those derived from the interfacial energies, hence "contact angle" is misleading. If Mr. Morris had said that the "supporting-angle" is variable and depends on the weight of the particle and size of the bubble and that it has a maximum possible value equal to the equilibrium contact-angle, his discussion would have been more accurate. T. M. Morris (author's reply)—Mr. Kellogg puts forth a reasonable criticism of some of the terminology used in the paper. I agree that the term "static contact angle" may be misleading. Substitution of the term "supporting angle" or "vector angle" may be more suitable. F. X. Tartaron—In this paper the author presents a very interesting mathematical development of the forces present when a mineral particle adheres to an air bubble. Excellent concordance is obtained between mathematical formulation and experimental results. It is the writer's understanding that when the mineral surface presented to an air bubble is greater than the area of contact, the maximum contact angle is obtained. However, this contact angle represents distortion of the bubble, the normal shape of which is spherical or in cross-section, circular. This distortion produces a force that acts in opposition to the force of adhesion between the bubble and particle. Hence, at maximum contact angle, the force of adhesion between bubble and particle is at a minimum for static conditions. However, when the size of bubble is increased, the size of particle remaining the same (and all other conditions remaining the same), the contact angle decreases, the distortion of the bubble decreases and the force in opposition to adherence of bubble and particle also decreases. Thus, there is stronger attachment between bubble and particle. When this situation is applied to actual flotation conditions, it is doubtful that it has any significance. The reason is that the bubbles are normally so much larger than the particles, that in substantially all cases, it is probable that negligible distortion of the bubble takes place. In table IV, the author makes computations for bubbles from 0.50 to 2 mm diam. This is from 0.02 in. to 0.08 in. Certainly the bubbles generated in a flotation machine are far larger than this. The surfaces of the author's bubbles range from 0.79 to 12.6 sq mm. The area of contact of the glass rod (0.15 mm diam) is 0.017 sq mm. Thus, ratio of bubble surface to mineral area of contact ranges from 47 to 741 in round numbers. If we take a %-in. diam bubble and a 65-mesh (0.208 mm) particle of cubical shape, the ratio of bubble surface to mineral area of contact is 2931. Mineral particles do not readily become attached to air bubbles. Taggart has shown that in pneumatic flotation machines collector-coated particles are only temporarily attached to bubbles. They keep falling off and down in the froth but at a delayed rate as compared with gangue. Spedden and Hannan's motion pictures confirm the difficulty of attaching particles to air bubbles. In the agitation froth process, according to Taggart, air is precipitated from the water selectively on to the collector-coated particles and these

Jan 1, 1951

L50 Adirondack L1 Alaska L2 Arizona L58 Arkansas L66 Billings Petroleum L3 Black Hills L4 Boston L5 Carlsbad Potash L6 Central Appalachian L60 Central New Mexico L7 Chicago L8 Cleveland L9 Colorado L57 Colorado Plateau L10 Columbia LII Connecticut L55 Dallas L12 Delta L65 Denver Petroleum L13 Detroit L14 East Texas L15 El Paso Metals L71 Evangeline L45 Florida L54 Fort Worth L16 Gulf Coast L61 Hobbs L62 Hugoton L68 Illinois Pet Basin L17 Kansas L18 Lehigh Valley L52 Lou-Ark L47 Mexico L19 Mid-Continent L20 Minnesota L56 Mississippi L21 Montana L22 Nevada L64 Niagara Frontier L23 New York L67 New York Petroleum L25 North Pacific L24 North Texas L26 Ohio Valley L27 Oklahoma City L28 Oregon L63 Panhandle L29 Penn -Anthracite L30 Permian Basin L51 Peru L31 Philadelphia L32 Pittsburgh L33 St Louis L34 San Francisco L59 San Joaquin L35 Southeast L36 Southern Calif L69 Southern Calif Pet L53 South Plains L37 Southwest Texas L48 Southwest Alaska L38 Southwest N Mex L44 Spindletop L39 Tri-State L40 Upper Peninsula L41 Utah L70 Venezuela L42 Washington, D C L43 Wyoming L49 West Central Texas L46 Philippine

Jan 1, 1956

By W. H. Hough, P. B. Leavenworth

Development during 1942 led to the discovery of 26 new fields in the Texas Gulf Coast, as compared with 27 during 1941. Of these, 19 are classed as oil fields, 4 distillate fields, and 3 gas fields. Production from the new fields amounted to 614,467 bbl. to October 1942. Producing Sections.—Discoveries in I942, compared with the previous two years, classified by producing formations, are shown in the following table: It is interesting to note the increase in Wilcox discoveries due to the extensive geophysical campaign that has been con. ducted since 1940. Drilling.—During the year 688 wells were drilled, of which 574 produced oil or gas and 114 were dry. This represents a considerable decline in activity over the previous year, when 1405 wells were drilled in the area, of which 1081 were producers and 324 failures. Jackson County continued to hold the lead, with 222 wells completed. Production.—-Despite curtailed drilling, production amounted to 118,009,451 bbl. for 1942, indicating a slight increase over the 113,726,893 bbl. produced during 1941. The statistics in Tables I and 2 include condensate and distillate as oil production, because many Gulf Coast fields produce oils with a wide variation of specific gravities, all of which are commingled in pipe lines. Table 3 shows by counties most of the activities referred to. The number of wells drilled includes only field wells; not wildcats. Outstanding Fields of 1942 The Texas Gulf Coast covered in this report has 270 more or less active oil and gas fields, including the new discoveries of 1942. Of these the most outstanding from the standpoint of production are listed in Table 4. Each of these fields produced one million barrels or more during 1942. Some of the fields where new extensions are occasionally referred to as separate fields, such as West Columbia and New West Columbia, or Thompson and South Thompson, are combined to give a more accurate outline. Two interesting facts may be noted from this list of some 26 oil fields: (I) that the Lolita field, Jackson County, is the only discovery since 1938 to produce more than one million barrels annually, although there have been 79 discoveries since Jan. I, 1940; (2) that 20 of these 26 fields produce from the Frio. New Fields ALief, Harris County.—Pure Oil Company's No. I Mike Albanese was drilled to 8637 ft. in Cook Mountain shale. After numerous tests the well was completed on Apr. 20, 1942, in a Yegua sand at 7919 to 7924 ft. for 54 bbl. of 52' gravity oil and 3,335,000 cu. ft. of gas through

Jan 1, 1943

By W. H. Hough, P. B. Leavenworth

Development during 1942 led to the discovery of 26 new fields in the Texas Gulf Coast, as compared with 27 during 1941. Of these, 19 are classed as oil fields, 4 distillate fields, and 3 gas fields. Production from the new fields amounted to 614,467 bbl. to October 1942. Producing Sections.—Discoveries in I942, compared with the previous two years, classified by producing formations, are shown in the following table: It is interesting to note the increase in Wilcox discoveries due to the extensive geophysical campaign that has been con. ducted since 1940. Drilling.—During the year 688 wells were drilled, of which 574 produced oil or gas and 114 were dry. This represents a considerable decline in activity over the previous year, when 1405 wells were drilled in the area, of which 1081 were producers and 324 failures. Jackson County continued to hold the lead, with 222 wells completed. Production.—-Despite curtailed drilling, production amounted to 118,009,451 bbl. for 1942, indicating a slight increase over the 113,726,893 bbl. produced during 1941. The statistics in Tables I and 2 include condensate and distillate as oil production, because many Gulf Coast fields produce oils with a wide variation of specific gravities, all of which are commingled in pipe lines. Table 3 shows by counties most of the activities referred to. The number of wells drilled includes only field wells; not wildcats. Outstanding Fields of 1942 The Texas Gulf Coast covered in this report has 270 more or less active oil and gas fields, including the new discoveries of 1942. Of these the most outstanding from the standpoint of production are listed in Table 4. Each of these fields produced one million barrels or more during 1942. Some of the fields where new extensions are occasionally referred to as separate fields, such as West Columbia and New West Columbia, or Thompson and South Thompson, are combined to give a more accurate outline. Two interesting facts may be noted from this list of some 26 oil fields: (I) that the Lolita field, Jackson County, is the only discovery since 1938 to produce more than one million barrels annually, although there have been 79 discoveries since Jan. I, 1940; (2) that 20 of these 26 fields produce from the Frio. New Fields ALief, Harris County.—Pure Oil Company's No. I Mike Albanese was drilled to 8637 ft. in Cook Mountain shale. After numerous tests the well was completed on Apr. 20, 1942, in a Yegua sand at 7919 to 7924 ft. for 54 bbl. of 52' gravity oil and 3,335,000 cu. ft. of gas through

Jan 1, 1943

By P. W. Ramsey, E. J. Boyle, E. A. Anderson

ONLY a few zinc-rich alloys are in commercial use today, and these depend largely upon solid solution effects for their desirable properties. Typical examples are rolled alloys containing about I per cent of copper, with or without additions of elements such as magnesium,1 and die-casting alloys containing about 4 per cent of aluminum with small amounts of magnesium and sometimes copper.2 A number of elements are capable of forming alloys with zinc, which do not enter into solid solution except in limited degree. The present paper considers one such system, zinc-titanium, in which alloys having potentially useful properties in the rolled form were found. ZINC-TITANIUM SYSTEM The zinc-rich portion of the zinc-titanium diagram, as determined by standard methods in this laboratory,3 is shown in Fig. I. The portion of the diagram of significance in the present work extends from 0 to about 0.5 per cent titanium. Gebhardt4 places the eutectic at 0.45 per cent, but the evidence in favor of the composition given in Fig. I is considerable. The solid solubility of titanium in zinc is very low indeed and possibly places these alloys in a somewhat different category from the commercial alloys previously mentioned. ALLOY PREPARATION All of the alloys used in this work were prepared with titanium metal of 98.9 per cent purity. In most cases high-purity zinc (99.99 per cent) was used but sufficient work was done later to show that zinc of about high-grade composition would yield approximately equal results. Best practice in alloy manufacture seemed to be to prepare a zinc-titanium hardener by adding about 4 per cent of titanium metal to molten zinc and holding under a boric acid cover, with frequent stirrings, at 750°C. until the titanium had dissolved. The desired titanium content could readily be obtained in the final alloy by adding the calculated amount of this hardener. The alloys proved to be quite stable in composition, unless overheated, and, with reasonable temperature control, required no cover or flux to prevent loss of titanium content by oxidation. HOT-ROLLING TESTS Three alloys containing, by analysis, 0.05, 0.12, and 0.23 per cent titanium were selected for preliminary study. Slab cross sections revealed a marked grain refinement* (Fig. 2) in the two alloys of highest titanium content. Cast unalloyed zinc has a columnar grain structure similar to that shown for the alloy of lowest titanium content but without the scatter of small equiaxed grains at the center.

Jan 1, 1944

By Sam Harlan

At intervals during the past several years the oil industry has been confronted with the problem of forestalling crises in its affairs. These crises have been reduced to periods of depression which, fortunately, the industry has been able to survive. Under the existing competitive practices which control the producing division of the industry it apparently has been proved that the best efforts logically to curtail development and producing operations are inadequate for effecting a true production balance and the consequent stabilization of prices. The industry is awakening to the fact that the situation warrants revolutionary thought and at this time it is looking for a permanent solution of its problem in a general plan for unit development and operation such as the one first proposed by Henry L. Doherty. Mr. Doherty's proposal was designed not only as a means for stabilizing the industry as a whole, but its principles involve very definite potential benefits for the average individual operator and royalty owner as participants in pooled projects. The benefits to these individuals would be derived from maximum recovery, the maximum utilization of natural energies, the minimization of development and operating costs, enhanced values of leases and royalties through improved efficiencies and ultimate yields, improved earnings through stabilized crude oil prices, etc. This plan was revolutionary to the industry's practices and at the time was rejected, but it now appears that the development and operating policies for new properties are continually approaching the ideal of the original plan. Oil companies are constantly extending their efforts to improve all factors that have a bearing on the costs and efficiencies of their operations. These efforts may, in some degree, be a normal outgrowth of the industry's progress, but the forced consideration of market conditions, the growing appreciation of the importance of regulating operations for maximum ultimate economies and the depreciation of the old principle of maximum flush at any cost, come from a new school of thought which has been stimulated by the immediate pressure of overproduction and

Jan 1, 1930

By S. S. Arentz

An organized safety program has reduced accidents at Pioche because effort is first devoted to arousing and maintaining interest in safety, followed by training in accident prevention, assigning responsibility for the detection and removal of safety hazards, and finally, by keeping score through an adequate system of records. A health program is intergrated with the safety program.

Jan 1, 1950

• One effect of the British devaluation of the Pound Sterling, with its resultant lowering of the pay limit, was the addition of considerable tonnages of previously marginal ore in gold mining. Crown Mines, Ltd., reported that 1,245,000 tons of such ore had been added to available reserves. But for devaluation, a steady decline in ore reserves had been a feature of operations during the previous ten years, and would have continued. •Loree Colliery of the Hudson Coal Co. is using a Humphrey spiral cleaning plant to meet requirements of the state in the matter of stream pollution. However, the process is producing a salable product. •Noranda is considering plans for constructing a commercial sized unit designed to produce elemental sulphuric acid and sintered iron oxide from pyrite. Test plant results have indicated the No. 5 ore zone can be treated by the new process economically. •A magnetic fluid clutch, and magnetic amplifiers for motor and generator control, have been developed under Navy contract by Vickers' Electric Division, in St. Louis, Mo. This constitutes the first commercial production of the clutch recently developed by the Bureau of Standards. •Fuel experts estimate coal production will run up to 500 million tons this year based on the expectation that business conditions will continue to be good. They also expect that in the future the use of coal will increase by 50 pct over today's level. These expectations are based on the fact that it provides the bulk of the heat, light, and power for making steel, for manufacturing, and for generating electricity as well as the development of the coal burning gas turbine and processes for making gas, gasoline, and oil from coal. •Entombed miners may benefit from a two-way communication system which utilizes the earth's strata as a network for electric signals. The use of FM radio waves makes this possible. The invention includes a portable transmitter-receiver unit kept near the face, and a more powerful portable equipment of the same sort above ground. In use, two probes on wires from the apparatus are driven into the earth. • The Union of South Africa has launched a uranium production project which government leaders think will help the West maintain world atomic supremacy. Experiments under way in the pilot plants are expected to lead to the establishment of a chain of processing factories along the Witwatersrand in which uranium will be reclaimed from gold tailing. •Recent developments in mechanized mining at the Bureau of Mines oil-shale mine near Rifle, Colo., have lowered mining costs to 29 cents per ton of shale. The cost of producing crude shale oil from 30-gal-per-ton-shale, using the new mining and processing techniques, would be about $1.50 per barrel. This is 500 lower than any previously stated price. • COMINCO is planning to open the old Bluebell lead-zinc mine near Nelson, B. C., on a 500-ton-per-day basis. The old workings will be pumped and a 970-ft incline sunk. A mill will be constructed at the property.

Jan 7, 1950

Occasionally it is interesting, and sometimes useful, to review the past for early references to our industry, and to learn of the trials and travail passed through before it arrived where it now is- and the results of such a review follow. Some time ago one of our modern playwrights and poets, Arthur Guiterman, turned to coal, with the following result: Afar in the Carboniferous time I grew in Paleozoical slime, A lepidodendron with boughs on my stem And lepidostrobuses grew out of them. My roots in the mud of the ages I spread And up to the heavens I vaunted my head, I throve in the heat of tropical sun, And now I am coal at two dollars a ton

Jan 1, 1939

By Stephen Zorn

INTRODUCTION The process of financing mining projects in developing countries has changed greatly in the past 15 years. New methods of financing, notably the use of syndicated Eurocurrency project loans, have appeared, and direct equity financing by transnational mining corporations has become less significant. These changes are of particular importance to developing countries which have many mineral deposits still awaiting development, or even discovery. If major new mines are to be financed, host governments will need to obtain more sophisticated information than has hitherto been widely available as to the various sources of finance currently available and as to possibilities for innovative approaches to financing, such as the combination of several different kinds of financing in a single package. This paper reviews the major sources of mining finance potentially available to developing countries and highlights those problems in obtaining adequate financing that developing country producers have begun to experience in the last few years and that are likely to persist through the 1980s. Section I surveys the major types of mining finance; section II reviews specific financing problems, including (a) the withdrawal of the transnational corporations from developing countries, (b) inflation and the size of new projects; (c) developing country indebtedness, and (d) competition among projects in different countries. SOURCES OF DEVELOPING COUNTRY MINING CAPITAL1/ There is a wide range of financing mechanisms which are potentially available to developing countries with economically viable mining projects., Moreover, these financing mechanisms have not been fully exploited by developing countries, and more aggressive pursuit of financing by the governments of these countries may well reveal greater possibilities in respect of any particular project than may initially have appeared. However, virtually all the funds available from these sources are available only to projects which meet the standards of viability acceptable to lenders and others in the business community. If a project does not, for example, promise to generate a discounted cash flow rate of return of at least 15 per cent on total funds employed, or if it does not appear likely to generate sufficient cash flow in the early years of production to cover debt service requirements with a comfortable margin in reserve, most of the sources of financing will not be available. Only where a government has its own financial surplus (as in the case, for example, of the industrialization program of the Saudi Arabian government) can it effectively undertake projects which do not satisfy the definition of economic viability that is accepted at any given time by the worldwide financial community. Internal Sources In Developing Countries Internal financing capacity in developing countries is restricted to a relatively small number of countries - typically those large enough to support a well-rounded industrial sector, in which mining is only one of a number of dynamic industries. While there are large mining companies in certain other countries, the ability of such companies to finance new projects (or even, in some cases, to generate the cash necessary to maintain existing levels of production) is highly problematical. Within developing countries, the possible sources of internally-generated mining finance are the following: (1) state-owned enterprises; (2) private capital; (3) the banking system, and in particular those financing agencies that have a special involvement with the mining sector; and (4) direct budgetary appropriations.

Jan 1, 1985

By A. P. Svenningsen

DURING the work at the test mill in Morenci, it was determined that a suitable feed for the ball mills could be made by a single pass through a short-head cone crusher. These crushers did not require a closed circuit delivering only a screen product to the mills, such as is the practice in some concentrators. By no means does this mean that the practice in these other concentrators is wrong, but just that the Morenci ore can be most economically crushed and ground in this manner. Therefore, the design of the secondary crushing plant was simply a problem of taking 25,000 tons of ore per 16 hour day from the primary crusher, this ore ranging in size from fine particles to 10 or 12 in., and reducing it to minus 3/4 in. Inasmuch as outages must be contended with in any crushing plant, it was assumed that the crusher would operate at full capacity for approximately only twleve hours per day, which is three-quarter capacity for the 16-hour shift. With this in mind, it was necessary to design a crushing plant which would average approximately 1600 tones per hour for the 16-hour day, or 2000 tons per hour for slightly over 12 hours per day.

Jan 1, 1942

By H. B. Pulsifer

.ABOut 1.5 varieties, or tnodifications, of the best rnagnesiurn available were prepared and subjected to etching tests, then examined for micro-structure. Of the 30-udd etching reagents that were tried, nearly half, mostly ammonium salts, etched the metal satisfactorily. The surfacing and etching of magnesium is shown to be a very simple and quick operation. The density and hardness of magnesium were determined. The most interesting new observations relate to the finding of the hexagonal etch figures, the crystal laminations, and the fact that the metal is plastic, cold, when restrained or quickly deformed. Under slowly applied pressule cold metal deforms slightly, then shears to fracture without plastic flow. The chief structural features of magnesium arc presented in two reduced photographs and 30 photomicrographs. Materials Tested There are only two sources in the United States from which new metal can be procured: the American Magnesium Corpn. and the Dow Chemical Co. No pronounced structural or property differences in the metals from these two companies were disclosed by the work of this investigation. The following materials were obtained from the manufacturers: 1. Massive crystals of distilled metal (American Magnesium Corpn.). 2. Rods of hot-extruded metal, ½-in. squares and 5/8-in. rounds (American Magnesium Corpn.). 3. Sheet magnesium, 0.005-in. thick (American Magnesium Corpn.). 4. Cast stick metal, 13/8-in. dia. (Dow Chemical Co.). 5. Magnesium-aluminum alloy, hot-rolled plate, ½-in. thick (American Magnesium Corpn.). From these materials, were prepared: 6. Sections from a furnace-cooled ingot made from clistilled crystal. 7. Cold-strained pieces from (6), (4) and (2). 8. Pieces cold-squeezed to fracture from (6), (4) and (2). 9. Hammer-struck pieces from (6), (4) and (2). 10. Steam-hammer struck pieces from (6), (4) and (2). 11. Sections from furnace-cooled ingot of the magnesium-aluminum alloy.

By Walter Miller

Crude oil stocks were some 10,000,000 bbl higher on June I, 1947, than at any time during 1946 but the extremely heavy refinery runs the last half of 1947 cut crude inventories to approximately the 1946 closing level of 225,000,000 bbl. Many refiners were seriously short of crude oil during the year. This shortage was reflected in numerous advances in the posted price of crude, justified in part as an incentive for more production but more generally due to competitive bidding. Some purchasers of crude, endeavoring to keep their plants running, resorted to the payment, either directly or indirectly, of premiums above the posted price. Another common practice employed by some suppliers of crude oil was to demand refined products in exchange or trade for their raw material. The refined products picture has darkened in spite of record throughputs. Stocks of gasoline and light and heavy fuel oils were uncomfortably low at the beginning of the year and were in general still lower at the close. The rationing of some products, principally gasoline, to dealers and stations? initiated during the year, gained momentum as stocks continued to diminish. The emphasis placed by the manufacturers of oil-burning equipment on the convenience and economy of heating with oil, together with the tight situation in coal, has developed a tremendous demand for burning oils. Consumption of liquefied petroleum gas for domestic and household fuel had more than doubled in 1946 over 1943, and the demand seems to be limited only by the ability of the equipment builders to furnish necessary storage. transportation, and burning equipment. The supply situation is likely to become more acute in 1948. Demand for petroleum products is being pushed to new heights not only by the unprecedented domestic market but by a sudden and drastic upswing in estimates of military and governmental requirements. Additionally, oil exports are running far below the volume requested, amounting to less than forty percent in a recent quarter, and export licenses are reportedly being approved on the basis of urgent need *only. AX recent White House release sees little likelihood that estimated requirements of the sixteen nations participating in the proposed Marshall Plan can be met in full over its projected life—1948 to 1951. Present demand dictates maintenance of refinery operations at the highest possible level and the Bureau of Mines has forecast daily average crude runs in 1948 of 5,265,000 bbl. The Economics Advisory Committee of the Interstate Oil Compact Commission recently estimated the 1948 demand for petroleum products at nearly 6 pct above 1947. They further estimate daily average crude runs of 5,375,000 bbl in 1948, some 2 pct higher than forecast by the Bureau of Mines. Projected demand exceeds supply to the extent that Capitol Hill is reportedly investigating ways of enabling oil companies to act in concert without danger of antitrust prosecution, such as elimination of crosshauls, pooling of products, and lowering of octane.

Jan 1, 1948

By Walter Miller

Crude oil stocks were some 10,000,000 bbl higher on June I, 1947, than at any time during 1946 but the extremely heavy refinery runs the last half of 1947 cut crude inventories to approximately the 1946 closing level of 225,000,000 bbl. Many refiners were seriously short of crude oil during the year. This shortage was reflected in numerous advances in the posted price of crude, justified in part as an incentive for more production but more generally due to competitive bidding. Some purchasers of crude, endeavoring to keep their plants running, resorted to the payment, either directly or indirectly, of premiums above the posted price. Another common practice employed by some suppliers of crude oil was to demand refined products in exchange or trade for their raw material. The refined products picture has darkened in spite of record throughputs. Stocks of gasoline and light and heavy fuel oils were uncomfortably low at the beginning of the year and were in general still lower at the close. The rationing of some products, principally gasoline, to dealers and stations? initiated during the year, gained momentum as stocks continued to diminish. The emphasis placed by the manufacturers of oil-burning equipment on the convenience and economy of heating with oil, together with the tight situation in coal, has developed a tremendous demand for burning oils. Consumption of liquefied petroleum gas for domestic and household fuel had more than doubled in 1946 over 1943, and the demand seems to be limited only by the ability of the equipment builders to furnish necessary storage. transportation, and burning equipment. The supply situation is likely to become more acute in 1948. Demand for petroleum products is being pushed to new heights not only by the unprecedented domestic market but by a sudden and drastic upswing in estimates of military and governmental requirements. Additionally, oil exports are running far below the volume requested, amounting to less than forty percent in a recent quarter, and export licenses are reportedly being approved on the basis of urgent need *only. AX recent White House release sees little likelihood that estimated requirements of the sixteen nations participating in the proposed Marshall Plan can be met in full over its projected life—1948 to 1951. Present demand dictates maintenance of refinery operations at the highest possible level and the Bureau of Mines has forecast daily average crude runs in 1948 of 5,265,000 bbl. The Economics Advisory Committee of the Interstate Oil Compact Commission recently estimated the 1948 demand for petroleum products at nearly 6 pct above 1947. They further estimate daily average crude runs of 5,375,000 bbl in 1948, some 2 pct higher than forecast by the Bureau of Mines. Projected demand exceeds supply to the extent that Capitol Hill is reportedly investigating ways of enabling oil companies to act in concert without danger of antitrust prosecution, such as elimination of crosshauls, pooling of products, and lowering of octane.

Jan 1, 1948

R. MOLDENKE, Watchung, N. J. (written discussion*).-It is some-what difficult to discuss the paper of Mr. Stork, when the description of the cupola melting occurrences indicates that his practice is open to question. The evident burning of much of the steel charged,. coupled with the remarkably low silicon content of the mixture as shown by the resulting product, throws the entire melting practice into that of making cupola malleable. If anything is wanted here, it is a. high bed to melt upon, and yet Mr. Stork in the very beginning of his paper speaks of the evils of oxidation due to a "high" bed, etc. The experienced foundry-mall would judge at the outset that Mr. Stork has kept his bed in the cupola too low, and naturally got a lot of oxidation from the blast. The oxidation of steel when used in large quantities in cupola mixtures is a well-known phenomenon, and is readily understood. One has but to. put a file into the forge fire and watch it burn when heated high enough. The melting point of steel being higher than cast iron, heavy pieces may dig way into the bed before being completely melted away, the last por-tions being directly exposed to free oxygen from the blast. Another situation not to be forgotten is the oxidizing effect of carbon dioxide at high temperatures. A serious oxidation of the steel is quite conceivable if in the zone of maximum carbon dioxide and minimum carbon monoxide-free oxygen being entirely absent. Hence the well understood practice of never melting a mixture with much steel unless the bed is kept exceed-ingly high; or again the above-mentioned malleable practice. Mr. Stork mentions the impossibility of deoxidizing a heat. after the steel contained has been oxidized. This is true to a great extent with the ordinary deoxidizers, such as silicon and manganese, but can be brought about by vanadium, titanium, magnesium, etc. Proper melting, however, makes this unnecessary.

Jan 10, 1919

By Gilman C. Ritter

Moisture sampling of uranium ore should coincide as nearly as possible with weighing of the lot represented by the sample. This requires care by the sampler since the sample must usually be taken as a grab from each truckload as dumped. Correct proportions of coarse and fine material are necessary. A sample of at least 10 lb should be collected, placed in an air tight container, and promptly taken to the moisture determination room. Further, the sample should be dried for a minimum of 24 hr or until there is no further apparent loss of weight at a temperature no greater than 110°C.

Jan 10, 1958

By Jacques B. Wertz

Even with the best geological maps, there is a constant need for further information and a constant demand for new clues, particularly in exploration work. New ideas and new thoughts are a necessity for progress. In the structural study of an area, be it in Arizona, Africa, or British Columbia, the basic fracture pattern has to be determined first. There is, however, no assurance that the trends shown on the map are really meaningful because they often are secondary in nature, having occurred as a consequence of an intrusion, of doming, or of gravity faulting. Thus, such trends often are a weak basis for assuming the presence of ancient and important zones of fractures that could constitute useful guides to mineral exploration.

Jan 6, 1969