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By P. Barnes

The sums given in the accompanying table are those actually paid for material and labor up to about August, 1875; but, as some parts of the machinery were not wholly completed at the starting of the works in September, 1875, the statement cannot be taken as an absolutely correct note of the total cost. A complete description, with engravings of the building and machinery, was given in Engineering, April 26th, 1878, in a paper by Messrs. A. L. Holley and Lenox Smith, to which convenient reference may be made. A detailed list of the construction accounts has been given in a paper, by the present writer, in vol. vi, Transactions of the Institute. A summary is given in the table of the items in each class which enter into the total cost, and also a note of the proportion which each of these items forms of the whole. A concise view may thus he obtained of the facts embodied in the statement as a whole, even though it cannot lay claim to completeness in showing the entire or final cost. An urgent suggestion has reached the writer from a distant country that such statements of cost to be really most serviceable should give the details in days of labor, in weight of iron, and in number of brick, and to this an assent is most cordially yielded. It is true, however, that the mere labor of copying arid compiling these details to such a degree of minuteness, would be very great, and, in any event, the probable difference between the plans of an existing establishment and one projected, would be so wide as to render even so complete a statement of cost of little more real service than the approximate notes given herewith.

Jan 1, 1879

By R. E. H. Pomeroy

Early in 1917, it became evident, owing to existing and pending market conditions, that a substitute for crude petroleum must be found for firing the smelter furnaces. After a review of the plants then existing, it was deemed advisable to depart from their practice and to adopt the following described system of distributing pulverized coal to the furnaces. The principal advantages of the proposed system, which influenced this decision, were: (I) Equal safety; no pulverized coal is stored at the furnaces; (2) greater ease of operation, furnace fires being controlled by regulating valves in burner branches, as in gas firing; (3) better organization; all machinery, including pulverized coal feed, is under one roof, and the organization is separate from the furnace department; (4) greater cleanliness; all machinery is under vacuum; (5) greater flexibility of application, the coal and air mixture can be piped where needcd. The design of the plant is the result of the combined efforts of the local engineering staff and of the machinery manufacturers. Many new features were embodied in this design to insure greater safety, cleanliness, and efficiency of handling. After 14 months of continuous operation, the plant has proved entirely satisfactory. The building is of structural steel, covered with corrugated steel, with many windows and is painted light gray inside and out. The building floor is of concrete with ample drains to the sewer, and the building is equipped with fire and service water piping. Fig. 1 shows the east side of the building and the incline conveyor from the raw-coal bins. The plant is operated entirely by electric power. All alternating current is 550 volts, 3-phase, 60 cycles. The pulverized-coal feeding niotors and control mechanism are operated by 220-volt direct current supplied by motor-generator sets in the building. Autamatic push-

Jan 1, 1921

By Robert C. Paddock

INTRODUCTION A way of producing 3,000 tpd from the El Mochito Mine was needed. Of this production, 2,000 tpd must come from the San Juan orebody. The original sub-level stoping method did not give satisfactory results due to ground instability, and the highly irregular ore/waste contacts encountered . The experience gained from the initial system helped guide research into the ground instability problem. Results from this work, combined with knowledge gained about the orebcdy configuration, defined constraints that were previously not fully appreciated. These constraints, and others, combined with objectives, were considered together to develop a new mining method. No single technique was found to be suitable, so a hybrid mining system was developed. A combination of ramping, cut and fill, and vertical crater retreat, with an option to use top heading and benching was developed. To complement the mining system, the type of equipment needed was decided upoun. Also, to support the mining system at this expanded rate of product ion, major modifications of existing infrastructure were required. THE EL MOCHITO MINE The El Mochito Mine, of Rosario Resources Corporation, has been in continuous product ion since 198. The mine began operations in April of that yeas at a rate of 100 tpd. The reserves in 198 were 100,000 tons of silver ore assayed at 1,250 grams per tonne. As of the end of 1979, the El Mochito orebodies have produced over 5.6 million tonnes of ore averaging 516 grams per tonne silver, 6.8 lead, and 7.8% zinc. Present ore reserves are about 7.9 million tonnes, averaging 138 grams per tonne silver, 4.6% lead, and 8.7% zinc, with minor quantities of copper, cadmium and gold. An expansion plan to increase mill production two fold to 2,500 tonnes per day is underway. This expansion will require the mine to produce 3,000 tpd. The mine consists of numerous orebodies, all of which have been mined to a certain extent. Of all the orebodies, the San Juan contains 8% of known reserves. This amounts to about 6.7 million tonnes. The significance of the San Juan orebody to the future life of the El Mochito Mine is obvious. If the required mine production of 3,000 tpd is to be sustained, the San Juan must be the source of the majority of that production. Due to the mineability and overall logistics concerned with the other orebodies, the San Juan must be able to reach and maintain a production rate of 2,000 tpd by 1982. GEOLOGY OF THE SAN JUAN OREBODY The El Mochito Mine is a classic example of a chimney replacement deposit in limestone. Similar deposits axe found in Mexico, at the Naica, Providencia, and Santa Eulia Mines. The El Mochito Mine is located at the south- western end of the Sula Valley on the western edge of the Honduras Depression in the Central Cordillera and Central Highlands of Honduras in a setting of Mesozoic sediments. The orebodies occur in a structural basin developed between NNE trending normal faults and apparently hinged on the south end. Topographically, the Mochito Basin lies between the uplifted Santa Barbara mountain in the west and the Palmer Ridge on the east. The San Juan orebody occurs near the intersection of the NE trending San Juan fault and the ENE trending Porvenir fault. The downward continuation of the orebody is controlled by the westward rake of these NW and N dipping structures. The discovery of the San Juan orebody is attributed to analysis of structural evidence of known ore deposits by in-company geologists. The composition of the San Juan orebody is primarily garnet skarn, with local concentrations of hedenbergite and magnetite. The economically important sulfide mineralization consists of (in decreasing abundance), sphalerite , galena, pyrrhotite , and chalcopyrite. There is some indication that a Cu-Ag mineral such as tetrahedrite may also be present. The skarns were formed by replacement of the original limestone by hydrothermal water migrating upward roughly along the intersection between the Porvenir fault system and the San Juan fault system. Textural evidence suggests that the orebody is a composite of several pulses of hydrothermal activity which would explain, in pat, the great irregularity of the contacts and the large horizontal variation in mineralogy. A general pattern of skarn types can be seen in the orebody, partially accounting for the observed lateral variation in grades. This zonation is very generalized, and one or more zones may be missing in any given locality. The orebody is almost invaxiably surrounded by a 2 cm to 25 cm zone of bustamite skaxn with low values. The border skarn is usually

Jan 1, 1981

By Richard S. Culver

In spite of the widespread interest in rock bolt research, relatively little is known about the critical region surrounding the bolt anchor. In analyzing the stress distribution around an opening resulting from rock bolt support, it is commonly assumed that the bolt is fixed at a point far enough from the surface so that the anchor does not influence the performance of the bolt. Furthermore, a bolt anchor is assumed to per- form satisfactorily if it will hold the design load with a minimum amount of load relaxation, commonly called bleedoff. From the standpoint of the design engineer both of these assumptions are reasonable, but they ignore the fact that the extremely high stresses in the region of the anchor are capable of generating fractures in the rock. Lang1 estimated the bearing stresses for a slot and wedge anchor on a one-inch-diameter bolt to be as high as 125,000 psi. This paper describes a more thorough analysis of the magnitude of the stresses around the anchor and the nature of the potential fractures that might result. It should be emphasized that there are two types of anchor-associated fracturing which may occur. The more common form, particularly in soft rock, is severe localized crushing of the rock in the immediate vicinity of the anchor, which makes securing the anchor difficult and causes bleed- off. It is also possible to develop larger single fractures which propagate out from the anchor, affecting the strength of the entire rock mass. The formation of these larger fractures is of primary concern in this paper. In addition to estimating the contact stresses and pullout load for slot and wedge bolt anchors, Lang carried out an important study of rock bolt interaction which served as a basis for the experimental phase of this investigation. In the first phase of his tests, a plate of photoelastic plastic was compressed by a row of piano wire bolts, simulating the interaction of bolt stress fields to form a zone of uniform compression (Fig 1). To show the supporting effect of this beam, hr carried out another test series

Jan 1, 1968

By Jim F. Lemons

INTRODUCTION A nickel doesn't buy much anymore. That's even true in the cost of recovering nickel -- the commodity. A 5[C] per pound (11 [c] per kilogram) increase in the nickel price won't cover a 10-percent increase in fuel costs for processing laterite ores, nor will it cover a 10- percent increase in wages for recovering nickel from a sulphide ore. It won't even cover a 5- percent increase in the capital cost necessary to mine and process ocean nodules. The basis for this statement and a quantitative analysis of the variations in costs to recover nickel from different types of nickel ores will be discussed in this paper. During the early part of the 1970's, the interest in nickel and its potential development was shifting from Canada to the Pacific Basin area. Canadian growth rate was slowing and each additional increase in nickel capacity was very expensive (Argall, G.O., 1970). Laterite ores were attractive to developers since they were easy to mine at a low labor cost, and technologies were being developed that would allow the recovery of nickel in marketable forms (Mohide, T.P., Warden, C.L., Mason, J.D., 1977). During the last decade, new laterite production was achieved in the Philippines and Botswana, and a significant increase in production from Indonesia and New Caledonia occurred. However, recent reports on nickel identify numerous problems plaguing the industry, i.e., high energy costs that are forcing shutdowns (INCO, 1980), (Mohide, T.P., Warden, C.L., Mason, J.D., 1977), high Canadian sulphide mining labor costs (Anon., 1976), and rapid inflation of nickel capital costs (Anon., 1981b). No definitive study has been made to determine how sensitive the total cost of production is to rising energy, labor, or capital costs, or to identify to what extent increased byproduct revenues could be used to offset these production costs. The purpose of this paper is to quantify the effects of increases in energy, labor, capital costs, and by-product credits on the future cost of production from nickel reserves and/or resources. METHODOLOGY OF ANALYSIS In order to evaluate the sensitivity of nickel production costs to changes in energy, labor, and capital costs, and in byproduct revenues, an analysis was made of existing and proposed nickel operations, their costs, and their sensitivity to change. The data for these analyses were obtained from numerous sources including international govern¬ment and university publications, professional journals, company reports, private communications, U.S. Bureau of Mines contracts, and estimates by Bureau of Mines personnel. These data were collected, in part, as an ongoing effort of the U.S. Bureau of Mines Minerals Availability System (MAS) to systematically measure and classify identified mineral resources according to their respective extraction technologies, economics, and commercial availability. The MAS Program is currently evaluating the present and potential availability of nickel to the United States in relation to mining, beneficiation, smelting, refining, leaching, transportation, infrastructure, environment, land use, labor, productivity, technology efficiencies, operating capacities, deposit life, and political factors. As a summary of this data, the following briefly describes nickel ore types as each relates to energy, labor, capital, and byproducts. Sulphide Operations Nickel is currently available from sulphide deposits. Roughly 55 percent of the current world nickel production in market economy countries is from sulphide ores, although only about 20 percent of the known land-based nickel reserves and/or resources are sulphides (INCO, 1981). In 1979, the Western World sulphide reserves were estimated at about 9.2 million metric tons of nickel (Little, A.D., 1979). Sulphide ores are typically mined underground, thus resulting in high mining costs; however, these ores can often be upgraded by flotation prior to final nickel recovery and require about one-third of the energy required to recover nickel from laterites (Anon., 1981c). In addition, nickel in sulphide ores may be associated with economically recoverable byproducts, which include copper, cobalt, gold, silver, and other precious metals. Laterite Operations Forty-five percent of current nickel production is from laterite deposits. Laterite deposits account for 80 percent of the known land-based nickel reserves and/or resources (INCO, 1981). In 1979, the Western World laterite reserves were estimated at over 35 million metric tons of nickel (Little, A.D., 1979). Nickeliferrous laterites are residual soils formed by weathering, typically under tropical or near tropical conditions. They can be easily mined by open-cut methods, but generally cannot be beneficiated; thus, recovery of nickel must entail processing of the total mined ore. Usually, these ores have high moisture content (20 to 30 percent by weight) that result in additional fuel costs to dry the ore. Nickel silicates, garnierites, are, processed by pyrometallurgical methods; limonite nickel oxides are normally leached. Byproduct cobalt is not recovered from most ferronickel operations, and is only recovered to a limited extent from many leach operations.

Jan 1, 1982

By Howard Hughes

IN drilling for water and oil to reasonable depths through the generally soft yielding clay and sand formation of the Coastal Plain of Texas, . Louisiana, and Mississippi, the rotating method of drilling was adopted, principally on account of the easy and quick penetration, and the low cost of the drilling plant. In favorable ground, free of heavy gravel and rock strata, as much as 1,000 ft. has been drilled in less than 36 hr., although such performances were of course rare. Hydraulic rotary drilling, or, as it is now called, rotary drilling, was used in the above States as early as 1880. The plant consisted of an ordinary derrick, a 25-h.p. boiler, a small hoist, a steam pump, and a water swivel with hose attachment, and an ordinary flat diamond-pointed bit. The successful drilling in of a phenomenal oil well by this process on Spindletop, near Beaumont, Texas, on Jan. 10, 1901, and the ascertained impracticability of drilling subsequent wells in the same locality by other methods (owing principally to heavy quicksand under pressure from below), brought rotary drilling into great prominence, practically to the exclusion of any other process throughout the Coastal Plain, and later on elsewhere. The method, as its name implies, involves the rotation of a pipe by means of machinery placed on the derrick floor. A drill bit attached to the lower end cuts a clearance for the drill pipe, with much the same motion and effect as an auger. Water forced through the drill pipe by means of a pump, and escaping through the bit, removes the cuttings and returns to the surface outside the drill pipe. In this manner the hole is kept open, permitting the drill stem to rotate freely. The pressure of the column of muddy water holds up the walls of the hole until it has been cased. Practically all the wells of the Gulf coast region, numbering nearly 10,000, have been drilled with this system. During the last five years its use has been extended to many other States and countries.

Jan 3, 1915

By A. Eiders

THE year 1874 marks a decided advance in the metallurgy of the West, in two directions. On the one hand, the technical management has been very materially improved, and on the other, the production has been largely increased over that of the previous year. The technical improvements of greatest importance are the introduction of condensation-chambers, or flues, at several works, and the further treatment of the lead matte produced in the ore smelting. These two are of general importance, and although by no means introduced at the majority of works, their adoption at the few where their great importance has begun to be understood will no doubt bring about their universal introduction. To these may be added a third step. forward, which for some localities is vital enough, though for others it must still remain doubtful whether it is to be regarded as an improvement or not. This is the introduction, at several

Jan 1, 1875

By A. Eilers

The year 1874 marks a decided advance in the metallurgy of the West, in two directions. On the one hand, the technical management has been very materially improved, and on the other, the production has been largely increased over that of the previous year. The technical improvements of greatest importance are the introduction of condensation-chambers, or flues, at several works, and the further treatment of the lead matte produced in the ore smelting. These two are of general importance, and although by no means introduced at the majority of works, their adoption at the few where their great importance has begun to be understood will no doubt bring about their universal introduction. To these may be added a third step forward, which for some localities is vital enough, though for others it must still remain doubtful whether it is to be regarded as an improvement or not. This is the introduction, at several

By R. W. Heckel

The growth and shrinkage rates of second-phase particles of various size distributions are analyzed in terms of five mathematical models. These models apply to various forms of diffusion-controlled growth (one model) and interjace-controlled growth (four models). The expression for diffusion-controlled growth assumes local equilibrium at the interface between the second Phase and the matrix and through the choice of the proper flux area perrnits the definition of minimum diffusion-controlled growth kinetics. The interface-controlled kinetics models consider the situations where the rate-controlling step occurs at either the interlace undergoing solution or the interface undergoing deposition. In addition, each of these interface-controlled kinetics models is analyzed for interface reaction rates which are independent of the thermodynamic activity gradient across the interface or proportional to the gradient. THE variation of the size distribution of second-phase particles in a solute-saturated matrix has been a stimulating topic for many years. Research has been carried out in this area for situations where the matrix was either liquid or solid. It is well-understood that the over-all process results in an increase in the average particle size, a decrease in the total number of particles per unit volume, and a net decrease in surface area. Greenwood1 has presented a mathematical model based upon the mass balance existing between growing and shrinking particles. His analysis is stated in terms of Fick's First Law using concentration gradients set up between particles of different size as a result of the effect of surface curvature on solubility. Greenwood's analysis indicates that the mean particle size should increase approximately as the cube root of time. Asimow2 has shown that several of the simplifying assumptions employed by Greenwood may be eliminated from this diffusion-controlled model with little increase in complexity. Lifshits and Slyozov3-5 have also considered the growth-shrinkage problem involving diffusion-controlled kinetics. Their analysis was extended to include the effects of interacting particles ("kinetic approximation"), particle shape, and elastic strains. These authors also show that the mean particle size varies as the cube root of the reaction time. wagner6 has formulated expressions for both diffusion-controlled kinetics and interface-controlled kinetics in the growth-shrinkage problem. Wagner's diffusion-controlled kinetics is based upon the same form of mass balance using Fick's First Law as used by others and is shown to be applicable to situations where kr >> D (k is the interface reaction constant, r is the particle radius, and D is the diffusion coefficient). This analysis also yields a mean particle size which varies as the cube root of time, in agreement with other workers. Wagner also developed interface-controlled kinetics to handle kr « D. This model was based upon the fact that the interface reaction rate is proportional to the interface area. Wagner assumed that the rate was also proportional to the thermodynamic activity difference, ?a, existing across the interface. Thus, the specific reaction rate at the surface of radius r was defined as k • 4nr2 . ?a. It is the purpose of the present paper to reconsider the processes of diffusion-controlled growth and interface-controlled growth in the variation of particle-size distributions as a function of time at constant second-phase volume. The analyses are formulated in a manner which permits data obtained

Jan 1, 1965

By G. E. Perry, R. D. Seba

The steam soak process is the most widely applied and most successful thermal supplemental recovery process in use today. This process, which consists of injection of steam in various quantities into a well that is subsequently used as a producer, can be repeatedly applied to the same well. The treatment, if successful, will increase the production rate of the well for a given period. For this reason, the steam soak process should be considered primarily as an acceleration method rather than as a method for producing oil that could not be recovered by primary means. However, application of this process to reservoirs containing viscous crude may produce oil that otherwise would have zero present value or would be produced at such low rates by primary methods that it would not be profitable. A major necessity for the successful application of the steam soak process is a source of natural energy. This source of energy may exist in one or more of the following forms: expansion of fluids, compaction, gravity drainage. This study was undertaken to determine the effect of gravity drainage on steam soak production and recovery and to develop a method for predicting production rates, ultimate recovery, and heat requirements when applying this process to a reservoir in which the primary driving mechanism is gravity drainage. (For additional discussion of some of the factors that affect recovery of viscous oils by the steam soak process, see Ref. 5.) Model The model developed for analyzing the performance of the steam soak process in gravity drainage reservoirs is a modified form of that developed by Matthews and Lefkovits.1,2 The model used in this study consists of two concentric cylindrical volumes of productive formation with cap and base rock of impermeable material. The inner cylinder, extending from the radius of the wellbore to some predetermined radius, is referred to as the hot zone; and the outer cylinder extending from the exterior boundary of the hot zone to the outer drainage boundary will be referred to as the partially heated zone. Fig. 1 is a schematic cross-section of the model, indicating its thermal properties. Horizontally the reservoir is divided into two regions, the upper region having a high gas saturation and residual liquid saturation, and the lower region containing a high liquid saturation. The boundary between these two regions is referred to as the free surface, which drops and changes shape as fluid is produced from the reservoir. The model was used to analyze the steam soak process by applying the following assumptions: 1. The horizontal formation is composed of one or more homogeneous noninterconnected layers containing incompressible fluids. Each layer is treated separately. 2. The hot zone is heated by the initial soak and is maintained at the steam temperature corresponding to atmospheric pressure by resoaking. 3. The height of the free surface at the producing well is at all times zero (producing well is pumped off). 4. The position of the free surface at the start of

Jan 1, 1970

By H. P. Allen

The Achotla mill of the Cia. Minera de Penoles is of special interest in that it is one of the few still employing the chloridization process. The ore milled comes from the Suriana mine and consists of both oxide and sulphide, from neither of which can the gold or silver be extracted by a simple cyanide treatment. The mill was built in 1927, after several years of study in the development of the process1, and operated from December of that year until October 1930. Operations were resumed in February 1935, and have been continuous since, treating approximately 5000 tons per month, while the mine is getting up to full tonnage of 6500 tons per month. Transportation of Supplies The property is in Guerrero, Mexico, some 175 km. by airline southwest of Mexico City. The mill site is at Temisco (Fig. I), 8 km. from the Balsas River and 4.8 km. by aerial tram from the mine. At Temisco are the general office, shops, warehouses and laboratory serving both mine and mill. Here sufficient water is available either from a small creek running through the property or from the Balsas River, also convenient and ample storage space for the tailings. With the exception of the mine timber and a few native building materials which may be obtained locally, all supplies for both mine and mill are brought down the Balsas River from Balsas, the terminal of a Mexican National Railway line out of Mexico City. The method of transportation on the river is interesting. Rapids with very fast water are numerous, prohibiting the use of mechanically propelled boats. Those used resemble large, flat-bottomed rowboats some 22 ft. long by 8 ft. wide (Fig. 2). They are manned by two oarsmen sitting in the bow, each handling one large oar, and usually another man in the stern who, with his oar, assists in steering the boat, especially when the rapids are run. From 3 to 7 tons of freight are carried on each boat, depending upon the stage of the water, which governs also the time

Jan 1, 1939

By H. P. Allen

The Achotla mill of the Cia. Minera de Penoles is of special interest in that it is one of the few still employing the chloridization process. The ore milled comes from the Suriana mine and consists of both oxide and sulphide, from neither of which can the gold or silver be extracted by a simple cyanide treatment. The mill was built in 1927, after several years of study in the development of the process1, and operated from December of that year until October 1930. Operations were resumed in February 1935, and have been continuous since, treating approximately 5000 tons per month, while the mine is getting up to full tonnage of 6500 tons per month. Transportation of Supplies The property is in Guerrero, Mexico, some 175 km. by airline southwest of Mexico City. The mill site is at Temisco (Fig. I), 8 km. from the Balsas River and 4.8 km. by aerial tram from the mine. At Temisco are the general office, shops, warehouses and laboratory serving both mine and mill. Here sufficient water is available either from a small creek running through the property or from the Balsas River, also convenient and ample storage space for the tailings. With the exception of the mine timber and a few native building materials which may be obtained locally, all supplies for both mine and mill are brought down the Balsas River from Balsas, the terminal of a Mexican National Railway line out of Mexico City. The method of transportation on the river is interesting. Rapids with very fast water are numerous, prohibiting the use of mechanically propelled boats. Those used resemble large, flat-bottomed rowboats some 22 ft. long by 8 ft. wide (Fig. 2). They are manned by two oarsmen sitting in the bow, each handling one large oar, and usually another man in the stern who, with his oar, assists in steering the boat, especially when the rapids are run. From 3 to 7 tons of freight are carried on each boat, depending upon the stage of the water, which governs also the time

Jan 1, 1939

Jan 1, 1879

By A. B. Parsons

LECTURE, it appears, is a discourse that is supposed to be instructive. I am quite sure that you will derive no instruction from what I have to say. I will be satisfied if my remarks provoke thought along one or two mental paths that have not been traveled so fre¬quently as to be devoid of interest. I have no particular message apropos of professional engineers or professional engineering, and any conclusions that I may seem to reach will be purely tentative and incidental. Probably at times you have wondered, in a casual way at least, why so many people who are not, never have been, and never will be engineers, want to use the title. For example, I recently received a communication from a life insurance broker or salesman, whose chaste letterhead bore the legend "Estate Engineer." He was perfectly serious about it, as is also the expert accountant who assumes the imposing name of cost-analysis engineer. Dozens of equally amazing titles might be cited. Then there is that class of individuals who have been engineers, in the true sense of the word; who have gone into some other kind of occupation; but who cling tenaciously to the name engineer, usually prefixing some word or other which at once gives them away by telling what their work really is. For example, we have such pseudomorphs as the management engineer, and the sales engineer. It is quite evident that engineer is a word to conjure with. Evidently both the man who appro¬priates the designation without any justification and the ex-engineer who persists in calling himself an engineer even after he has abandoned engineer-

Jan 1, 1933

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' 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'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 J. W. Pamplin

Some 40 miles east of Tampa is the center of the Florida pebble phosphate deposits. These are of Pliocene age and consist of several members of the Bone Valley formation.1 Physically the phosphate-bearing formation, locally called the "matrix," varies in thickness from nothing to about 25 ft., usually averages 10 ft., and consists mainly of clay, quartz and phosphate pebble, the latter particles varying in size from colloidal to one inch diameter. The pebbles range in color from dark gray, through white, to cream, and in hardness from that which must be broken with a hammer to that which can be scratched with the fingernail. They assay from 66 to 80 per cent bone phosphate of lime (called "B.P.L." in the trade) or tricalcium phosphate (Ca³P2O8) and are secondary apatites. They form from 15 to 50 per cent by weight of the matrix. Over the matrix lies a varying thickness (5 to 40 ft.) of overburden composed of quartz and clay. Briefly, mining consists of two operations2 in open pits about 200 ft. wide by 1/2 mile or more in length. In the first step overburden is removed by large electric draglines at the rate of about 700 cu. yd. per hour. This is followed closely by hydraulic mining of the matrix at the rate of about 300 cu. yd. per hour. This matrix yardage is moved from an improvised sump in the floor of the pit to an ore-dressing plant, sometimes a mile distant, by one, two or three "pit-cars" (pumping units) working on a 12-in. pipe line called the "rock line" to distinguish it from the high-pressure water line feeding the hydraulic giants, which is known as the "hydraulic line." This 700 yd. of overburden and 300 yd. of matrix—1000 yd. in all-amounts to about 1500 tons of material moved each hour. The overburden is dumped into the mined-out pit alongside the pit being mined. The matrix moves to the ore-dressing plant at the rate of about 7% long tons in 4000 gal. of water per minute—a ratio of approximately one to two by weight, or one to six by volume. This constitutes the "mill heads," but in the pebble district it is called the "matrix."

Jan 1, 1938

By J. W. Pamplin

Some 40 miles east of Tampa is the center of the Florida pebble phosphate deposits. These are of Pliocene age and consist of several members of the Bone Valley formation.1 Physically the phosphate-bearing formation, locally called the "matrix," varies in thickness from nothing to about 25 ft., usually averages 10 ft., and consists mainly of clay, quartz and phosphate pebble, the latter particles varying in size from colloidal to one inch diameter. The pebbles range in color from dark gray, through white, to cream, and in hardness from that which must be broken with a hammer to that which can be scratched with the fingernail. They assay from 66 to 80 per cent bone phosphate of lime (called "B.P.L." in the trade) or tricalcium phosphate (Ca³P2O8) and are secondary apatites. They form from 15 to 50 per cent by weight of the matrix. Over the matrix lies a varying thickness (5 to 40 ft.) of overburden composed of quartz and clay. Briefly, mining consists of two operations2 in open pits about 200 ft. wide by 1/2 mile or more in length. In the first step overburden is removed by large electric draglines at the rate of about 700 cu. yd. per hour. This is followed closely by hydraulic mining of the matrix at the rate of about 300 cu. yd. per hour. This matrix yardage is moved from an improvised sump in the floor of the pit to an ore-dressing plant, sometimes a mile distant, by one, two or three "pit-cars" (pumping units) working on a 12-in. pipe line called the "rock line" to distinguish it from the high-pressure water line feeding the hydraulic giants, which is known as the "hydraulic line." This 700 yd. of overburden and 300 yd. of matrix—1000 yd. in all-amounts to about 1500 tons of material moved each hour. The overburden is dumped into the mined-out pit alongside the pit being mined. The matrix moves to the ore-dressing plant at the rate of about 7% long tons in 4000 gal. of water per minute—a ratio of approximately one to two by weight, or one to six by volume. This constitutes the "mill heads," but in the pebble district it is called the "matrix."

Jan 1, 1938

By J. W. Pamplin

SOME 40 miles east of Tampa is the center of the Florida pebble phosphate deposits. These are of Pliocene age and consist of several members of the Bone Valley formation.' Physically the phosphate-bearing formation, locally called the “matrix," varies in thickness from nothing to about 25 ft., usually averages 10 ft., and consists mainly of clay, quartz and phosphate pebble, the latter particles varying in size from colloidal to one inch diameter. The pebbles range in color from dark gray, through white, to cream, and in hardness from that which must be broken with a hammer to that which can be scratched with the fingernail. They assay from 66 to 80 per cent bone phosphate of lime (called "B.P.L." in the trade) or tricalcium phosphate (Ca3P2O8) and are secondary apatites. They form from 15 to 50 per cent by weight of the matrix. Over the matrix lies a varying thickness (5 to 40 ft.) of overburden composed of quartz and clay. Briefly, mining consists of two operations2 in open pits about 200 ft. wide by ½ mile or more in length. In the first step overburden is removed by large electric draglines at the rate of about 700 cu. yd. per hour. This is followed closely by hydraulic mining of the matrix at the rate of about 300 cu. yd. per hour. This matrix yardage is moved from an improvised sump in the floor of the pit to an ore-dressing plant, some- times a mile distant, by one, two or three "pit-cars" (pumping units) working on a 12-in. pipe line called the "rock line" to distinguish it from the high-pressure water line feeding the hydraulic giants, which is known as the “hydraulic line." This 700 yd. of overburden and 300 yd. of matrix-1000 yd. in all- amounts to about 1500 tons of material moved each hour. The over- burden is dumped into the mined-out pit alongside the pit being mined. The matrix moves to the ore-dressing plant at the rate of about 7 ½ long tons in 4000 gal. of water per minute-a ratio of approximately one to two by weight, or one to six by volume. This constitutes the "mill heads," but in the pebble district it is called the "matrix."

Jan 1, 1938

By H. F. Moore

We have studied the simple case of repeated stress, without considering impact, which might bring in other factors. This investigation has shown that steel under repeated applications of stress, reversed from positive to negative, will not fail below some fairly clearly defined limiting stress that, so far we can see, does not bear any definite relation to the ordinary elastic limit, being as large as the elastic limit in some cases and about one-half the elastic limit in others. According to one theory, fatigue is the result of changes in crystalline structure by repeated stress. I do not know of any evidence in favor of this theory. The crystals are broken under repeated stress. According to Bauschinger, under repeated stress some inherent property of the material changes its elastic limit; possibly some property of the amorphous cement between the crystals. A third theory is that all fatigue of metals is the result of the spread of damage from little localized overstresses. While I do not feel justified in accepting the last theory rather than the second, I have yet to run across a case of failure of steel or other metal, either in the laboratory or in service, that could not be explained by the gradual spread of damage from some nucleus. We have found, for example, that it is possible to subject a homogeneous steel, like Armco iron or a 0.90 per cent. carbon steel, that has been thoroughly annealed, to one hundred million reversals of stress as high as the elastic limit of the steel with no sign of failure. On the other hand, a complex structured steel, like a chrome-nickel steel that has been hardened with very little drawing, will fail at a stress about 58 per cent. of its elastic limit. Between these two we get a variety of results. In the steel work of any building, there are undoubtedly many thousands of places where structural damage was done—where riveted members were bent into place cold and where the rivets were fitted with drift pins, etc. Locally the steel in the building was stressed beyond its yield point in many places. These little localized overstresses do no damage at all; the building is entirely safe. But if this building were subjected eight or ten times a day to a mild earthquake, these little localized overstresses might be nuclei from which damage would spread

Jan 1, 1922

By Stanley M. Moos, Richard Addison

Introduction The Pueblo Viejo gold-silver mine, located in the Dominican Republic, started production in early 1974 processing ores averaging 4 g/t gold and 20 g/t silver at a rate of 7.25 kt/d. The ore milled is a silicified siltstone with average work index of about 8 that occurs as an extensive oxide capping of a primary sulfide ore body. The sulfide ores are refractory to conventional treatment process and extensive research work is now in progress to develop a treatment process for them. The ore deposit has a long history, having been mined by the indigenous Arawak Indians for some time in the early sixteenth century prior to the arrival of the Spanish, and then by the Spaniards. In the early 1950s, Italian engineers attempted to process the sulfide ores. Mining by the Indians and Spanish was abandoned because of low grade and little coarse gold in the oxide ores and by the Italians because of the refractory nature of the sulfide ore. In 1969, Rosario Resources geologists discovered that there existed sufficient reserves of oxide ore for a viable mining operation and the plant was designed, built, and brought into production.

Jan 1, 1981