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By J. A. Ede

The object of the writer is to call attention to a rather unique aggregation of economic products distributed over a line of succeeding formations about 3 mi. long, to be seen within a few miles of La Salle, Ill. Fig. 1 is an ideal section of the stratification exposed and exploited along a distance of 3 1/5 mi. in a southwesterly direction from the quarry of the Utica Hydraulic Cement Co. located near the historic site of Kaskaskia village to the Oglesby shaft at Oglesby. No attempt has been made to cover the whole field, special mention only being made (with the exception of two places) of the operations found along the course or parallel to the direction assumed in the ideal section. I have used Fig. 2, after J. R. Bent and De Witt Kelly, to locate the relation of the La Salle anticline to the coal mines of this district and to show the operation of No. 1 and 3 mincs of the Illinois Zinc Co. Anticline and the Rock Formations Owing to the structural deformation between La Salle and Utica, the older rocks of the state are exposed to the surface along the northern embankment and the bottoms of the Illinois River valley near the latter place. At; the Illinois Zinc Co. works, Sec. 16, Tp. 33, R 1, a well for water mas sunk 1828 ft. and samples taken every 10 ft. of the ground penetrated; duplicates were sent to Mr. Cady of the Illinois Geological Survey. A general compilation or synopsis study of this section is here presented. As the well is over 1 mi. west of the Western limb of the anticline, the section affords some reliable data. These samples were studied and interpreted by H. M. DuBois as Lower Magnesian, and by G. H. Cady as the Lower Magnesian. The results are given in Fig. 3. The most interesting geological feature of this district is the La Salle anticline. In 1865, Leo les Quereux, looking at Split Rock, asked how it happened that the upper coal measures overlie strata of the Lower Silurian and what has become of the formations which are generally found intermediate—the Upper Silurian, the Devonian and sub-carboniferous, and the lower member of the coal measures?

Jan 1, 1920

By J. M. Mutmansky, T. K. Greer

This paper takes a look at the optimal velocity to be used in coal mine entries and determines a statistical relationship for optimal velocity that can be applied under current mining conditions. This relationship provides the optimal velocity for coal mine airways under variations in power cost, mining cost differential, airway friction factor, time value of money, airway lifespan, and quantity of air carried. This enables the ventilation engineer to make an easy, rapid determination of the optimal velocity for planning purposes.

Jan 1, 1985

By C. E. Mills

The Verde mining district is in Yavapai County, in north-central Arizona. Jerome, the principal town, has a population of 6000 and the two important mines of the district—the United Verde and the United Verde Extension—lie almost within its limits. Perched high on the southwest side of the Verde valley, at elevations of 4800 and 5500 ft. (1463 and 1676 m.) respectively, both mines have long tunnels from their lower levels through which the ore is hauled to the smelters. Clarkdale, the smelter town for the United Verde mines, lies in the Verde valley 4.1 miles (6.5 km.) distant in an air line from Jerome and at an elevation of 3560 ft. The two towns are connected by the standard-gage railroad of the Verde Tunnel and Smelter R. R., a subsidiary of the United Verde Copper Co. This road is 11 miles long and has a compensated grade of 4 per cent. At Clarkdale it connects with the Verde valley branch of the Santa Fe railroad. Clemenceau, the smelter town for the United Verde Extension mine, lies 3.5 miles (5.8 km.) in a southeasterly direction from Clarkdale, at an elevation of 3420 ft. It is connected to the Verde Valley branch of the Santa Fe railroad at Clarkdale by the Arizona Extension R. R., a subsidiary of the United Verde Extension Mining Co. The portal of the haulage tunnel, at an elevation of 3757.5 ft., is also connected with the smelter town by 4 miles of standard-gage track belonging to the same company. In the vicinity of Jerome, the great southern escarpment of the Arizona plateau forms the northeast side of the Verde valley. The general level of this escarpment, or "rim" as it is called, is about 4000 ft. above the Verde River. A corresponding elevation is reached only by the highest peaks of the Black Hills, which bound the valley to the southwest. Two lava-capped mesas, known as "Mingus" and "Woodchute mountains," form the culmination of the Black Hills. That part of the Old Black Hills mining district which lies between their crests and the Verde River is now known as the Jerome, or Verde, mining district. If the smelter towns are not included, a strip about 7 miles long by 3 miles (11 by 5 km.) wide, embraces practically all of the properties belonging to the Jerome district. T-bis strip lies parallel to and along the side of the Verde valley from First View, 2 miles northwest from Jerome, to the

Jan 1, 1925

By Robert G. Nisle

The classic theory of pressure build-up in shut-in oil wells as developed by Horner and van Everdingen is based on two-dimensional radial symmetry in the well-reservoir system. Such symmetry does not exist in the case of a well which parfiially penetrates the producing formation. As a result of this lack of symmetry the use of the classic theory in such cases become questionable. In this paper the mathematical theory has been extended to include the case of partially penetrating wells. Numerical solutions illustrating the up-dication of the equations are presented. The effect of partial penetration on pressure build-up is shown by a comparison of synthetic pressure build-up curves derived from the numerical solution of the equation for partially penetrating wells for various degrees of penetration. It is shown that partial penetration is detectable from the characteristic shape of the pressure build-up curve and that formation productivity may be calculated from the pressure buildup data in a manner identical to that described by the classic theory. INTRO DUCTION The use of pressure build-up data on shut-in oil wells is a well-established technique for the measurement of reservoir productivity. The work of Homer' and van Everdingen' is well known. Since the publication of their pioneering work, others"' have elaborated and extended the technique. These authors have dealt exclusively with the case of wells that completely penetrate he producing formation. Two-dimensional radial symmetry is achieved, thereby, and the problem is greatly simplified. This ideal situation is seldom encountered in practice. But, in spite of this, the technique is often employed anyway. The question, therefore, arises: how much confidence can be placed in the results of such calculations when the data are taken on wells that only partially penetrate the producing formation? It is the purpose of this work to answer this question. Only the single-phase fluid case will be considered. van Everdigen' has presented a rigorous solution of the two-dimensional case, but because of mathematical complexity, this solution has not proved to be particularly useful. Horner' utilized Kelvin's point source solution in two dimensions and showed that it is a sufficiently good approximation for oil reservoir studies. The geometry of the well and the producing formation is illustrated in Fig. l. Geometrically the formation may be described as an infinite slab. The infinite slab is defined as the solid (the porous medium in this case) bounded by two parallel planes. Thus, the slab extends to very great distances in both the positive and negative directions of two of the coordinate axes, but is finite in

By S. B. Twiss, P. R. Basford

The relationship between areas of iron powders, briquettes, and sintered compacts and tensile strength has been determined. It has been found necessary to distinguish between two types of areas which exist in such powders—a macroscopic area due to the shape and size of particles and a microscopic area due to pores and cracks in the surface. Only the macroscopic area, specifically the area due to particle irregularity, contributes to tensile strength; the microscopic area cannot be forced into contact with adjacent particles ond does not participate in bond formation. Of the two methods of area measurement employed in this study—permeability to liquids and gas-phase adsorption—only the former is useful for determining the roughness factor. A measure of this roughness, (area measured by permeability to liquid) -f- (orea of powder with the same size distribution, but made up of spherical particles), is shown to be uniquely related to tensile strength at constant density. The other important factors in determining the strength of sintered-metal compacts are the density and presence or absence of surface oxide. THE manufacture of metal parts by the process of powder metallurgy is an important and rapidly growing industry. Progress has been rapid and continuous, largely because of the excellent research in the field. Nevertheless, the process remains inherently complex and empirical. Several investigators have shown that the properties of the final compact must depend on many variables; namely, shape,' size distribution,"-" nd compositiona of the original particles, the pressure necessary to compress to the desired density, the density of the compact, the time and temperature of sintering, and so on. Through the application of some new techniques to the study of powders and compacts, and the correlation of a number of observations of known variables, the present paper attempts to clarify and simplify the underlying theory of the powder-metallurgy process. Any theory must start with the obvious fact that the strength of a compact, its most useful property, is due to the formation of welded areas between adjacent particles, and attempt to deduce what effect other variables will have on (a) the area and (b) the intrinsic strength of these welds. Such welded areas can be demonstrated by electron micrographs, as in Fig. 1. It was believed that (a) could be most directly studied by means of surface-area measurements on the original powders and on the compacts made from them; the area decrease should be related closely to the welded area. A representative group of eleven iron powders from commercial sources, and made by a variety of processes, was chosen for this study. In addition to the surface-area measurements, correlations were established between the tensile strength and all the known variables which might possibly affect it. The results are quite unexpected. They indicate that the situation is much simpler than the authors had anticipated. The strength of the sintered compact is determined, indeed, by no more than three variables; viz., the irregularity of the original particles, the density of the compact and, in exceptional cases, the amount of surface oxide. All three had been recognized previously as having some effect on the tensile strength, but in the absence of the special techniques and interpretations to be developed here, there could be no suspicion that they were the only relevant variables. Materials and Methods Material—All the iron powders were commercial products obtained from the Amplex Division of Chrysler Corporation. Powders A, B, C, and J were very pure electrolytic iron. Powder D was made from oxidized scrap reduced by heating with an excess of cast iron. Powder E was a high-grade iron ore reduced by hydrogen. Powder I was prepared by atomizing molten cast iron in an air blast, quenching the droplets in cold water, and crushing the coarse powder. Mill scale (oxide) is added and the mixture heated to reduce the high carbon content. The other powders were all prepared by reduction of iron oxides, such as mill scale. They

Jan 1, 1959

By William A. Kapp

INTRODUCTION Coal is being mined from beneath residential areas, structures, bodies of water and other surface features in the coalfields to the north, south and west of Sydney. The particular problems faced by mine operators in these areas vary considerably due to differences in the overlying strata, the variation in the depths of cover and also depend on the number of seams being mined. Detailed subsidence work first commenced in the Southern Coalfield in 1965 and is now being carried out over areas of extraction at roost collieries. The analysis of the results of the early investigations and of the work which continues in other areas has shown that there is a consistent relationship between subsidence and mine geometry and has led to a reliable empirical method for the prediction of subsidence. In addition, particular aspects of each of the studies in the Southern Coalfield results in a clearer understanding of strata movements and of the resulting subsidence. The features of a subsidence trough apply generally to all areas but the magnitudes of specific features vary according to the stratigraphy of the particular coalfield. The aim of the subsidence work is to quantify the effects of subsidence for a range of mining geometries and mining conditions to enable the maximum safe recovery of coal from beneath surface features. The importance of local subsidence investigations is becoming more evident to mine operators and to authorities or organisations with surface interests. The subsidence work also provides important information on the stabilities of pillars of coal which remain unmined between panels of extracted coal. These pillars are not extracted either because of poor mining or geological conditions, or because pillar extraction is not part of the particular mining operation. Subsidence studies over these coal pillars clearly establish whether the pillars have remained stable or have failed to support the overlying strata. With subsidence studies continuing over several years, it is possible to assess the stabilities of these pillars on a long term basis. BACKGROUND TO THE STUDY OF SUBSIDENCE Geographical setting Most of the black coal production in Australia comes from the Sydney Basin. The coal seams extend for approximately 350 km along the coast of New South Wales and inland for distances up to 150 km. The City of Sydney is located near the centre of the coastal extent of the Basin where coal has been mined at a depth of 900 m. The Sydney Basin is part of the Main Coal Province of NSW and is divided into several coal- fields. The Southern Coalfield to the south of Sydney contained 15 operating mines and produced 12.7 million tonnes of raw coal during the 12 months to June 1981. The collieries discussed later are shown in Fig. 1. The prominent topographical feature of the area is the Illawarra Escarpment which rises to 400 m above sea level, or 300 m above the coastal strip along the South Pacific Ocean. The escarpment is mainly sand- stone and the weathering of the cliff line has resulted in a covering of talus material at its base. Several collieries are located near the seams which outcrop along the escarpment. The city of Wollongong is located in a scenically attractive area on the coastal plain. The suburbs of Wollongong extend north along the coastline, south to beyond Lake Illawarra and west to the lower slopes of the escarpment. The Illawarra Escarpment forms the eastern boundary of the Woronora Plateau. On a regional scale the surface dips gently to the west and thus forms a watershed for the rivers, most of which flow in a general north westerly direction, sometimes forming steep gorges in the sandstone. These rivers join the Nepean and Hawkesbury River system and flow into the Pacific Ocean north of Sydney. Seven dam have been constructed over the Southern Coalfield (Fig. 1) and with one large dam further to the west, their stored waters provide the needs of the Cities of Sydney and Wollongong and the surrounding districts. A large part of the area affected by mining is the undeveloped bushland of the associated catchment areas. In general no special precautions have been required with respect to subsidence with the exception of the dam structures and stored waters. With the increase in coal mining activities and the expanding residential development south of the City of Campbelltown in the outer Sydney Metropolitan area, subsidence is becoming an increasingly important area of research. Structures which have been affected or considered are townships and extensive residential areas, buildings of historical importance, major tollways, and a high pressure natural gas pipeline. The subsidence effects of mining beneath natural features within national parks is coming under study as mining approaches these areas. Geological setting The coal seams of the Southern Coalfield lie within the Illawarra Coal Measures. They contain high rank coking coal used in the local steel industry and for export. The Bulli Seam is mined extensively through- out the Southern Coalfield with the lower Wongawilli Seam being second in importance with regard to coal production. The top of the Bulli Seam is taken to be the marker horizon between the Permian Coal Measures

Jan 1, 1982

By P. Barnes

These furnaces are of the ordinary Siemens type, and present no special peculiarities of construction. The bed of each is 8 feet by 20 feet clear inside of the walls and ports. The producers are placed at a distance of about 200 feet from the furnaces, and the gas is collected in an iron tube and led across the yard overhead. It then drops underground into the gas flue, and is distributed to the furnaces. A considerable weight of floor-plates over the valve-pits is included in account 39, but none of the general stock of floor-plates for the mill were charged to the furnaces. In Table No. 1 is shown the money cost of the furnaces as distributed to the several accounts named. In Table 2 is shown the proportion of each account due to each of the several items or classes of expenditure named.. It is thus rendered possible, almost at a glance, to determine the money value in this particular case of each of the items named. The regular work of three of these furnaces in heating steel blooms for the months of January and February, 1877, was 77 rounds per week of 60 blooms each, or 4620 30-foot rails per week. Each furnace will heat 8 14-inch ingots, for three rails each, at one time.

Jan 1, 1879

By R. P. Carreker

ONE of a series, this report is concerned with the experimental documentation of the deformation behavior of pure metals over a wide range of temperature. Previous reports in the series describe the creep behavior of platinum1 and aluminum2 and the tensile behavior of copper,&apos; silver,& and molybdenum.5 Subsequent reports will describe the creep behavior of copper and silver and the tensile behavior of platinum, thus providing extensive creep and tensile data on four face-centered-cubic metals tested under comparable conditions. Material Two lots of high-purity aluminum were used in this investigation. One lot, designated AC, was obtained direct from the Aluminum Co. of America as high-purity aluminum in notch-bar form. A typical analysis of this type of aluminum is 0.006 pct Si, 0.015 pct Cu, 0.006 pct Fe, and 99.975 pct Al. Lot BS was obtained from J. I. Hoffman of the Bureau of Standards as a portion of the Aluminum A described in his report of the redetermination of the atomic weight of aluminum.6 Lot BS originated with the Aluminum Co. of America also, and was received in the standard notch-bar form. A detailed chemical and spectroscopic analysis of lot BS has been published.6 Principa1 impurities were 0.006 pct Si, 0.003 pct Fe, 0.002 pct Cu, and >99.987 pct Al. Samples were processed identically by room-temperature swaging and drawing to 0.030 in. diam wires from approximately ½ in. diam rods that were machined from the notch-bar pigs. Samples were cut from the cold-drawn wire, placed in a grooved graphite block in groups of thirteen, and annealed in air for 1 hr at each of several temperatures, with the results shown in Table I. The two lots of aluminum responded quite differently to annealing, the behavior of aluminum AC suggesting that its grain growth was controlled by impurities. The recrystallization texture of aluminum of similar purity comparably treated has been reported as predominantly <111> fiber with some <100> fiber present.7 Testing Procedure The testing procedure and method of analyzing the data have been described previously.2,3 Annealed specimens of 5 in. gage length were tested in an Instron tensile testing machine at a constant head motion corresponding to a strain rate of 0.04 min-&apos; at a number of temperatures. Instantaneous tenfold rate changes were employed in some tests to deter-

Jan 1, 1958

By Knut Conradsen

In the study 208 heavy mineral concentrates (pan samples) from Jameson Land, East Greenland, are considered. Each concentrate has been analysed (by spectroscopy) for the content of (approx.) 25 elements. Furthermore the exact sampling position and the geological characteristics of the environment have been registered. In the study is shown how different multivariate methods combined with geological knowledge of the area can be used in the interpretation and classification of the data. Special emphasis is put on the problem of finding reliable expressions for the background level of the element concentrations in the area. This is done by means of severel discrimination procedures. The other main subject is a demonstration of the applicability of isoscore maps - originating from factor analyses - in the evaluation of the co-variability of the data, and thus give another way of classifying the individual samples according to the content of different elements.

Jan 1, 1977

By Robert A. Rapp, Jan E. Verfurth

From the measurement of internal-oxidation band widths in Ag-In and Cu-A1 alloys, products for the solubility No and the diffusivity Do of oxygen in silver and apparent NODo products in copper have been obtained over a range of temperature. The NODO products for silver are in agreement with the product of the individually determined No and Do values of Eichenauer and Müller. Although interstitial diffusion of oxygen in silver is expected, the temperature-independent factor Do of the diffusion coefficient does not agree well with the theory of Wert and Zener. For Cu-A1 alloys internal oxidation does not follow the expression derived for ideal kinetics, since the apparent NODo product calculated from internal-oxidation measurements is a function of the alloy content in the specimen. Thus, unequivocal values for No or DO or even the product NODO in copper are not available from the literature. RELIABLE values for the saturation solubility NO and diffusivity DO of oxygen in fcc metals are lacking and difficult to determine, partially because internal-friction measurements are not applicable. Permeability experiments and Sieverts7-type adsorption -desorption methods3 have met with difficulty; however, Eichenauer and Müller4 have recently reported on the solubility and diffusivity of oxygen in silver as determined by the latter technique . Rhines, Johnson, and Anderson,5 and independently Meijering and Druyvesteyn,&apos; introduced the possibility of deriving values for the product NODO in a metal from measurements of the widths of internal-oxidation zones (subscales) formed during the internal oxidation of alloys. In addition to these authors, several other investigators7-9 have made such measurements in various silver and copper alloys at various temperatures, mostly using me- chanically polished specimen surfaces. The purpose of this investigation was to determine over a range of temperature the calculated products NODO in silver and copper from systematic measurements of the widths of internally oxidized zones in Ag-In and Cu-A1 alloys, using specimens with electro-etched surfaces. Consider the internal oxidation of a dilute solid-solution alloy in which the base metal is not oxidized. If diffusion of oxygen is the rate-controlling step, then the depth 5 of the internal-oxidation zone is given by where y is a dimensionless parameter and t the oxidation time. Based on the solution of the diffusion equation, wagnerl0 has shown that under certain conditions several mathematical simplifications may be used in the evaluation of y, so that Eq. [I] may be expressed for the case that y « 1, and y(Do/DB) 1, where N(so)the is the equilibrium solubility (mole fraction) of oxygen in the solvent metal for the given oxidizing atmosphere, is the mole fraction of the solute metal in the bulk alloy, 4 is the diffusivity of the solute in the base metal, and v is the ratio of oxygen atoms to solute atoms in the precipitated oxide BO,. Rearranging Eq. [2] Maak&apos; has derived an expression analogous to Eq. [3] for the case that an external-oxide scale, in addition to an internal-oxidation zone, is formed. For this combined external and internal oxidation for the case that 5/2 where 5 is the distance of the internal-oxidation front from the original external s.urface, and X is the distance of the external oxide/metal interface from the original external interface. The function F is defined by the expression

Jan 1, 1964

By Edmund C. Pechin

The Lucy furnace, owned by Messrs. Carnegie, Kloman & Co., and located on the Alleghany River, on the outskirts of Pittsburgh, is a splendid modern furnace, 75 feet high, and 20 feet bosh. She had been working well on low grade ores of about 50 per cent., producing daily 68 to 75 tons. There was on stock 500 tons of Republic ore, one of the purest and best of the Lake Superior ores, averaging over 68 per cent. of iron, which had been procured for the purpose of making a trial for Bessemer iron. This was charged by itself, and Mr. Skelding, the founder, reports that he did not succeed in getting a single cast when it came down, before the furnace chilled from the hearth to the top of the boshes, some 25 feet. Every effort was made to save her, without avail, and the disagree-

By N. O. Taylor

THE failure, by swelling, of several cast aluminum-zinc, spiral, pump rods, used to circulate water in a constant-temperature bath, brought up the question as to whether the presence of tin in varying quantities would have any appreciable influence in controlling this action. Previous workers had found the same difficulty with aluminum-zinc alloys, due to their swelling in water or solutions of electrolyte^.^ It was known that pure aluminum was practically insoluble in concentrated sulfuric and nitric acids, presumably due to the formation of an oxidized film on the surface. Concentrated sulfuric acid had little or no effect on pure zinc and tin and concentrated hydrochloric acid would attack all three metals. These facts aroused curiosity as to the probable reaction of the ternary alloys of these metals, and tests were made to determine their resistivity to the action of common laboratory reagents. Samples, covering the entire range of the ternary series of aluminum, zinc and tin alloys, were made up from good grades of the commercial metals.2 The materials were melted, at as low temperatures as possible, in graphite crucibles in a gas-fired crucible furnace. Graphite crucibles were used in preference to clay, to prevent the absorption of silicon by the aluminum, as found by previous workers. The melted materials were stirred thoroughly with pine sticks in order to ensure complete mixing and the greatest possible freedom from oxidation, and were cast in sectional, iron molds giving bars % in. in diameter and 5 in. long.

Jan 1, 1927

By C. M. Tucker, Kent R. Van Horn, W. P. Sykes

RECENT investigations of the molybdenum-carbon alloys have been reported by Becker and Ebert1‡, Westgren and Phragmén2, T. Takei3, and H. Tutiya4. Takei3 studied the Mo-C system by employing metallographic and X-ray methods, and the other publications described the determination of the crystal structure of the molybdenum carbides. In exploring this system by a technique previously applied to the tungsten-carbon series5, the results of Takei were confirmed with two definite exceptions; i.e., first the composition of the eutectic, and second the nature of the carbon-fish intermediate phase. Consequently, a more thorough examination of the molybdenum-carbon constitution was initiated in an effort to correlate the data supplied by the microstructures, diffraction patterns and chemical analyses. METALLOGRAPHIC INVESTIGATION A briquette of molybdenum powder when heated in a carburizing atmosphere at 1500° to 1600° C. for several hours develops the carbon-rich layer shown in Fig. 1. The carburization was accomplished by placing the briquette in a carbon tube, which was heated in the hydrogen atmosphere of an alundum muffle wound with tungsten resistor. While the macrostructure indicates two distinct shells, and suggests the possibility of two carbon-rich phases, no evidence of this condition could be detected by the microscope, which revealed but one high-carbon constituent. This carbide forms next to the molybdenum as a relatively

Jan 1, 1935

By Frank Firmstone

It is proposed to consider here only comparisons made between results obtained when the materials employed are precisely the same, two furnaces at the same works for example, or the same furnace under different conditions as respects temperature of blast, method of charging, etc. With this limitation, the most important point in the comparison is the amount of fuel consumed per ton of iron. This, in fact, is the only item in the prime cost of the iron which can properly be said to vary in consequence of changes in the furnace process; for of the other principal items, the ore used per ton of iron, and also the amount of fluxing material, will depend on its richness, which, under the assumed conditions, will be practically invariable when taken over any considerable period; the labor cost also, from its nature, should be very nearly constant when estimated on the ton of iron. Moreover, as it consists principally in handling and moving material, it is greatly affected by circumstances quite independent of

By William P. Lohden

INTRODUCTION It is recognized that, for a variety of reasons, some companies in the mineral industry today are by no means cash-rich and, in fact, are reporting a growing proportion of long-term debt in their capital structures. A review of recent balance sheets of small, medium-size, and some larger companies, indicates that a fair number still have substantial positions in cash equivalents such as U.S. government issues and other short-term money market instruments. In part, this paper concerns itself with companies which have sufficient cash and equivalents and/or cash generation to internally finance mining projects or expansions but which, for some reason, choose to borrow funds. Misconceptions which appear to frequently underlie so-called "leveraging" decisions are explored in this paper. Also considered arc&apos; those circumstances under which any company, including one that is cash rich, should consider borrowing for a project in an amount beyond what would otherwise be necessary based upon its internal financing ability. I do not attempt to cover the raising of equity capital in public markets in this paper. OVERALL RETURN ON INVESTABLE CASH If you approach an individual with an investment which can be financed from savings, or by borrowing at a rate higher than one is earning on savings, that individual will quickly tell you that to pay interest at a rate higher than is being earned on savings would reduce overall income. Assuming that additional investment opportunities are not currently being considered, the individual concludes that a draw-down on savings, leaving a cushion for contingencies suited to individual circumstances, is the correct financial decision. For reasons discussed later, the simple mathematical logic leading to this conclusion tends to become obscured at the corporate level. When Leveraged Studies Are Inappropriate or Premature Surprisingly, I have heard of a number of companies that could afford to finance an investment solely with internal funds, which have made DCFROR (i.e. discounted-cash-flow rate-of-return) studies not only on a 100% equity basis but also on a leveraged basis. Certainly, a leveraged study would be appropriate if additional projects were competing for more capital than was available internally. Often, however, other projects are not far enough along to warrant a leveraged study and there is some danger that a project may be undertaken because it has an estimated acceptable rate of return, on a leveraged basis, that is not ultimately earned because some of the other projects are postponed or abandoned and borrowing is less than expected. For the above reasons, until it has been determined that (1) borrowing is a reasonable certainty for a particular project and (2) the timing and amount to be borrowed has been determined within a reasonable range of accuracy, I believe it is inappropriate and misleading to calculate DCFROR for a project other than on a 100% equity basis. Even when there are several projects currently competing for funds and borrowing will be required to finance one or more of them, using the common yardstick of calculating DCFROR on a 100% equity basis is a safer method to initially evaluate and compare the attractiveness of the projects. Many companies, whether they would have to borrow or not, will reject projects that on a 100% equity basis do not meet their minimum rate of return standards. Some companies which have to borrow will undertake a project provided the project&apos;s DCFROR on a leveraged basis meets its minimum return standards. The danger of this approach is that even moderate shrinkages of estimated cash flows could plunge return below

Jan 1, 1985

By George Smith

THE Secretary of the Interior in his recent report to the President has defined the new public-land policy, which is in fact "but a new application of an old policy." His words may be more acceptable on this subject of land classification than the repetition of phrases which have served some of us for several years. Secretary Lane says of the past: "Congress has always been most generous as to the disposition of the national lands. . . . There was land for all, and it was the government&apos;s glad function to distribute it and let those profit who could. . . . And this generous donor was not so petty as to discriminate between kinds of lands, the uses to which they could be put, or the purposes which those might have who got them. Land is land, save when it contains minerals; this was roughly the broad principle adopted. To classify was a task too difficult or not worth while. The lands would classify themselves when they arrived in individual ownership. And so the door was opened for monopoly and for fraud. Of the reaction and the evolution of a new policy, the Secretary continues: "A reaction was inevitable. If lands were to be withdrawn from public service, why might not the government do the withdrawing itself? The old philosophy that `land is land&apos; was evidently unfitted to a country where land is sometimes timber and sometimes coal; indeed, where land may mean water-water for tens of thousands of needy neighboring acres. For the lands of the West differ as men do, in character and condition and degree of usefulness. We had not recognized this fact when we said `land is land.&apos; Lands fitted for dry farming and lands that must forever lie unused without irrigation; lands that are worthless save for their timber; lands that are rich in grasses and lands that. are poor in grasses; lands underlain with the non-precious minerals essential to industry or agriculture; lands that are invaluable for reservoir or dam sites these varieties may be multiplied, and each new variety emphasizes the fact that each kind of land has its own future and affords its own opportunity for contributing to the nation&apos;s wealth.

Jan 6, 1914

By J. W. Snavely

WITH all the advantages of handling bulk materials by means of belt conveyor also go some problems, one of the most persistent being that of cleaning. When sticky materials are being carried; the build-up of material on the return idler rolls results in difficulty of belt training. Much attention has been given to the problem of cleaning conveyor belts, and a great variety of cleaning devices have been developed. Even the best involve troublesome maintenance, and none can completely remove the fine particles imbedded in the belt cover, which cause rapid wear of the return idler rolls, and at the same time, of the belt cover as well. One of the major rubber companies has been promoting a two-way belt system, in which the conveyor belt is given two successive 90" twists at each end to enable it to carry material in both directions simultaneously. For many years the flat belt transmission industry has installed quarter-turn and half-turn twists in countless numbers of instances. While quarter-turn and half-turn twists in transmission belts is a familiar application, the 180" twist apparently has never been previously attempted with a conveyor belt. About a year ago, two officials of the National Iron Co. of Duluth, Lester and Lewis Erickson, proposed twisting the return run of a conveyor belt on an installation that they were designing for one of the major iron ore producers. Since then the soundness of the idea has been demonstrated, both in theory and by practical test, with the result that the installation of two conveyor belts involving the twisting of the return run is now under way. These two installations are designed to have the return run of the conveyor belt twisted 180" as it leaves the snub pulley at the head drive. The clean underside of the belt is thus placed against the idlers on the return run as well as on the carrying run. Just before it enters the tail pulley, the belt will be twisted an additional 180°, restoring it to its normal position. Because this twisting of the return run of a conveyor belt is a radical departure from accepted practice, an elaborate and extensive test was conducted early in 1950 to demonstrate that this twisting of the return run could be done successfully, also to establish application data for accomplishing this twisting, and to determine if any special equipment would be required. In studying this concept of twisting the return run of a conveyor belt, a number of problems need to be solved, primarily the ones brought about by deliberately introducing an unequal distribution of stress across the conveyor belt and controlling that maldistribution of stress, while confining it to the return run portion. The tension conditions existing in the return run of a conveyor belt are clear to all designers. First, the return run carries the initial or slack side tension of the conveyor belt, the tension that must be supplied to the return run to provide proper frictional contact between the belt and the driving pulley so that the necessary power can be transmitted from the driving pulley to the belt without slippage. This slack side tension is supplied to the belt by means of takeups, either of the gravity type, which can be vertical or horizontal, or by means of the screw type. With inclined or declined belt conveyors the slope tension also must be considered, which is the tension imposed by the weight of the belt hanging from the top pulley. This slope tension frequently can furnish part or even all of the initial tension required. The maximum value of the slope tension will be at the top pulley, and it decreases in direct proportion to the length. In addition to the foregoing, it frequently is desirable to impose arbitrarily additional slack side tension to provide sufficient tension at the loading point at the tail, so that the belt will adequately support its load between the carrying idlers. Design Conditions for Twisting A number of design conditions exist, which must be satisfied successfully to accomplish the twisting of the return run without exceeding normal working limits in any portion of the conveyor belt. It is obvious that the belt edge, in its relation to the center of the belt, must stretch in making a twist, because as the twist is accomplished, the belt edge travels through a longer path than does the center of the belt. It is further obvious that if the edge of the belt is stretched, a redistribution of stress in the belt is required to allow this edge stretching. Moreover, this stress will be unequal across the width of the belt, having a maximum value at the edges, with a minimum value at the- center of the belt. With correct initial tension in the return run of a conveyor belt, the existing slack side tension will be unequally distributed when a twist is introduced. A condition then exists in which the edge stresses,

Jan 1, 1952

By Donald R. Lessard

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

Jan 1, 1977

CONTENTS PAGE ANDERSON, ARVID E., and CAMERON, FRANK K.-Recovery of Copper by Leaching, Ohio Copper Co. of Utah. Discussed by Thomas B. Brighton, H. C. Goodrich, Arvid E. Anderson, Thos. P. Billings, Frank K. Cameron 2 BEESON, J. J.-Mining Districts and Their Relation to Structural Geology. Discussed by Charles Keyes, Chas. A. Porter 4 DOBBEL, CHAS. A.-Deep-hole Prospecting at the Chief Consolidated Mines. Discussed by G. W. Crane 10 CRANE, G. W.-Notes on the Geology of East Tintic. Discussed by G. W. Crane, H. E. Havernor, N. O. Lawton 11 SACKETT, B. L., BARDWELL, CARLOS, JACOBSON, SIMON, and JENSEN, N. H. Lead Smelting in Utah. Discussed by D. W. Jessup, B. L. Sackett, E. H. Laws 13 BARDWELL, E. S., and MILLER, Roy H.-Pulverized Coal as Fuel for Copper Refining Furnaces. Discussed by L. D. Anderson, E. S. Bardwell, C. P. Crawford 15 WIGTON, G. H.-The Chief Consolidated Volatilization Process and Mill. Discussed by Thomas Varley, S. G. Olmstead, V. O. Lawton, O. C. Ralston.... 16 JESSUP, D. W.-Evolution in the Preparation of Ores for Lead Blast Furnaces. Discussed by W. Spencer Reid, D. W. Jessup, Carlos Bardwell 19 ALLEN, H. P., and MADGE, WM. C.-Chloridizing Mill of the Standard Reduction Co. Discussed by Thomas Varley, H. R. Hanley, H. P. Allen, George H. Dern 20 TUCKER, E. L., and HEAD, R. E.-Effect of Cyanogen Compounds on Floatability of Pure Sulfide Minerals. Discussed by Blarney Stevens 24 Mix, B. E., and BARKER, L. M.-Method of Unloading Ores and Coarse-crushing Practice at Magna Plant of Utah Copper Co. Discussed by W. C. Madge,B. E. Mix 25 KEIGLEY, C. T.-The New Byproduct Coke Plant of the Columbia Steel Corporation. Discussed by W. M. Grant, C. T. Keigley, A. C. Feilder 25 JACKSON, P. W.-Blast Furnace Plant of the Columbia Steel Corporation. Discussed by W. R. Phibbs, H. M. Henton 26 OLDRIGHT, G. L., KEYES, H. E., and WARTMAN, F. S.-Production of Ferric Sulfate and Sulfuric Acid from Roaster Gas. Discussed by G. D. Van Arsdale William E. Greenawalt, G. L. Oldright 27 MAZANY, M. S.-Braden Copper Company Caletones Smelter. Discussed by A. B. Young, G. L. Oldright 36 HARRINGTON, D.-Safety Methods in Utah Coal Mines. Discussed by Edward K. Judd, Otto Herres, Benedict Shubart, A. C. Watts, D. Harrington 36

Jan 12, 1925

By O. R. Morris, G. L. Hawkes

A galvanic cell, using as electrolyte a fused salt solution of calcium carbide and as electrodes carbon and a Fe-C alloy of known composition, has been set up to study the thermodynamics of Fe-C alloys in the temperature rmzge 800" to 1000°C. Time independence and reproducibility of the cell electromotive force were taken as evidence of the reversible behavior of the cell. Carbon was believed to be present in the electrolyte as the so-called acetylide ion, C;-. The plots of the cell electromotive force us temperature for a specific alloy composition were straight lines within the limits of experimental error. The average Partial molar enthalpy of carbon in iron relative to pure carbon was found to be +10,610 i 93 cal per g-atom C. Thermodynamic analysis of the data has led to the following equation for the carbon activity, ac, based upon pure carbon as the standard state: In ac = In Zc + 10,560/RT + (10.02 + 77O/T)ZC - 2.350 where ZC is the lattice ratio [nC/(nF, - nc )] and T is the absolute temperature. This equalion gives carbon activity values generally slightly lower than those from gas equilibration studies reported in the literature. METAL LOGRAPHIC examination of a polished cross section of the steel anode used in the electrolysis studies of fused salt solutions of calcium carbide by Morris and Harry revealed extensive carburization of the steel by the electrodeposited carbon. This carburization was reflected in the variability, with time, of the applied potential to the electrolysis cell, necessary to maintain a constant current density at the electrodes. This observation suggested the setting up of a galvanic cell of the "alloy concentration" type to study the thermodynamics of some metal-carbon alloys. Cells of this general type have been widely used for the study of alloy systems.2 In view of the availability of published data in respect of the austenite phase of the Fe-C system, it was decided to carry out measurements upon these alloys before proceeding to studies of less well documented systems. The galvanic cell may be written: where [C] is carbon dissolved in iron. The electrolyte was a fused salt solution of calcium carbide, containing some 5 to 10 mol pct of carbide. The cell reaction is believed to be: C(s)-[CI [I1 Carbon forms an interstitial solid solution in iron, with the atoms located in the octahedral interstices. In the fcc crystal structure of austenite there is one octahedral interstice per iron atom. Thus, the lattice ratio, ZC, shown by Gurney3 to be the fundamental concentration parameter in the context of interstitial solutions, is given by: where nc and nFe are the number of carbon and iron atoms, respectively. chipman4 has recently shown empirically the advantages of using this concentration parameter instead of the more usual atom ratio or atom fraction. The cell electromotive force, E, assuming reversible behavior, is related to the carbon potential or the partial molar free energy of carbon in the solid solution relative to pure carbon at the same temperature and pressure, GP at the composition ZC, by the equation: where z is the carbide ion valency and F is the Faraday constant. An activity of carbon, ac, in the solution relative to the value of unity assigned to pure carbon, and an activity coefficient, qC , are defined such that: where R is the gas constant and T the absolute temperature. GF is further related to the relative partial molar enthalpy Hm, and the temperature coefficient of the cell electromotive force, (aE/aT)Zc, by the equations: Measurement of the cell electromotive force thus enables calculation of the relative partial molar thermodynamic properties of carbon in iron, if z is known. At E = 0, the solid solution is in equilibrium with pure carbon. More convenient for many purposes is the standard state based upon the infinitely dilute solution, Henry&apos;s law. The relationship between the activity coefficient of carbon based upon this standard state, and that based upon the pure carbon standard state, qC , may be obtained by considering the free energy of transfer of carbon from the latter standard state to the former. The relationship is: where +:H is the activity coefficient of carbon in the hypothetical standard state based on a reference of

Jan 1, 1969