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By W. F. Flanagan, K. R. Evans

The strong temperature dependence of the flow stress of bcc metals has prompted considerable interest and controversy concerning the rate-controlling influence of the Peierls' mechanism upon deformation in metals.18"21 Dorn and Rajnak" recently offered a criterion for Peierls' deformation utilizing a line-energy model of a dislocation to estimate the saddle-point activation energy, for the nucleation of a pair of kinks as a function of applied stress and the height and shape of the peierls9- barrier. It was found that Un/2Uk, where 2Uk is the excess energy of a kink pair, was a unique function of where is the effective stress and 7p is the Peierls' stress as defined in Fig. 20. The relationship found by Dorn and Rajnak between is given by the solid line of Fig. 21. may be expressed in terms of the temperature of test, T, and the athermal temperature, T,, defined in Fig. 20. Considering the strain-rate, 9, of deformation for a thermally activated process to be given by where fo is nearly a constant, it is seen that and the theoretical relationship of Fig. 21 may be examined with readily obtainable experimental parameters. Dorn and Coworkers analyzed a large amount of experimental data in this manner for materials sus-

Jan 1, 1967

By Joseph E Pogue

Over a period of years the writer has presented a number of studies1 on various aspects of proration, in a progressive attempt to analyze critically and constructively the economic complexities of this interesting institution, which in a decade has revolutionized the economics of oil production in the United States. In the course of the investigations leading to these papers, the changing nature of proration and the principles underlying its evolution have gradually become clear, so that it is now possible to depart from the analytical method and to construct a synthesis of the steps that, if furthered by the industry, should carry proration past the economic hazards that still surround it to the goal of maximizing the value of the petroleum resource to the industry and the public alike. Nature of Proration Proration literally means the allocation of demand among competing producers on a pro rata basis, but the term now carries a much broader significance for it is employed to describe the entire process by which the production of crude oil in the United States is regulated. There is naturally much confusion of thought on the subject, for proration is an evolving system of control based upon principles of conservation and equity and embracing a body of practices that are tending to adjust themselves to the needs of the situation but are subjected to varying and divergent influences in the process. As it is now constituted, proration is a planned production measure designed to prevent waste, insure ratable takings, and balance supply and demand. The procedure is administered by State regulatory bodies through use of the police power of the States under authority of State conservation laws; the practice is supported by a considerable degree of voluntary conformance on the part of operators; and the Federal Government has accorded its cooperation by providing advisory quotas, circumscribing imports, checking movements of hot

Jan 1, 1939

By Joseph E. Pogue

Over a period of years the writer has presented a number of studies1 on various aspects of proration, in a progressive attempt to analyze critically and constructively the economic complexities of this interesting institution, which in a decade has revolutionized the economics of oil production in the United States. In the course of the investigations leading to these papers, the changing nature of proration and the principles underlying its evolution have gradually become clear, so that it is now possible to depart from the analytical method and to construct a synthesis of the steps that, if furthered by the industry, should carry proration past the economic hazards that still surround it to the goal of maximizing the value of the petroleum resource to the industry and the public alike. Nature of Proration Proration literally means the allocation of demand among competing producers on a pro rata basis, but the term now carries a much broader significance for it is employed to describe the entire process by which the production of crude oil in the United States is regulated. There is naturally much confusion of thought on the subject, for proration is an evolving system of control based upon principles of conservation and equity and embracing a body of practices that are tending to adjust themselves to the needs of the situation but are subjected to varying and divergent influences in the process. As it is now constituted, proration is a planned production measure designed to prevent waste, insure ratable takings, and balance supply and demand. The procedure is administered by State regulatory bodies through use of the police power of the States under authority of State conservation laws; the practice is supported by a considerable degree of voluntary conformance on the part of operators; and the Federal Government has accorded its cooperation by providing advisory quotas, circumscribing imports, checking movements of hot

Jan 1, 1939

[NORTH AMERICA UNITED STATES ALABAMA America.-Dyar, 0. C. Anniston.-Klugh, B. 0. Ashland.-Pallister, H. D. Auburn.-*Poor, R. S. Bessemer.-Creveling, J. 0. Lindstrom, W. A. McKenzie, W. 0. Mitchell, F. R. Birmingham.-Abbott, C. E. Aldrich, T. H., Jr. Armstrong, 0. R. Beard, A. H. Benjamin, F. S. Blackburn, E. 0. Blair, A. J. Blair, 0. S. Blair. H. W.]

Jan 1, 1946

[A Aall, Christian H., M49 B VP, Dir of Smelt & Refin, Am. Metal Climax Inc., 1270 Ave. of the Americas, N.Y. Aaroe, Stanley L., A54 B VP, The W. S. Tyler Co. of Can. Ltd., St. Catharines, Ontario, Canada Abalos, Toodulo Q., J57 A Prod Foreman, Lepanto Cons. Mng. Co., Mt. Province, Philippines Abbass, G., M55 P. O. Box 680, Hong Kong, China Abbitt, James M., A54 770 Sole Blvd., Bartow, Fla. Abbott, Raymond C., J59 3442 Greenwich Ave., Columbus 24, Ohio Abdullah, N. Y., J53 Dept. of Mines, Res. Div., P. O. Box 1016, Tiger Lane, Ipoh Perak, Malaya Abel, John F., Jr., J53- 100 Maple, Littleton, Colo. Abell, Leo M., M31 B Conc Supt, Phelps Dodge Corp., Morenci, Ariz. Abendroth, Harry E., A57 A Geol, Union Carbide India, 183 Brabourne Rd.. Calcutta. India]

Jan 1, 1961

By W. P. Blake

THIS furnace is designed especially for the oxidation of sulphur or arsenic in pyritic ores, but may be used for all oxidizing or desulphurizing operations, and for calcining, roasting and chloridizing ores, or for drying ores in large quantities preparatory to treatment by magnetic separators or otherwise. It is of the tabular, revolving type, with automatic feed and delivery, and is a modification of the Cornish calcining furnace, designed by Brunton, from which it differs, however, not only in construction, but in two or more radical features, for which novelty is claimed and patents have been applied for. The principal of these novelties are: 1. A series of concentric terraced floors, one above another. 2. The introduction of superheated air upon the charge without contact with the fuel. In the furnace which I have had in operation for more than a

Jan 1, 1893

By T. H. Aldrich

The Aldrich Mining Go. holds under lease from the Illinois Central R. R. Co. about 14,000 acres, in the east half of Township 12, Range 12 W., in Marion county, Alabama, and owns other lands, of which about 1,000 acres adjoin this leased tract, making a total area of about 15,000 acres, all of which is underlain by the coal-seam upon which the company is operating. This seam is nearly horizontal; and a ravine, diagonally crossing the tract, exposes the outcrop on either side for about 2 miles. The territory has been so divided that nearly the whole of it can be worked out by two collieries. The mines at Brilliant were opened in the fall of 1898, and shipments began in the following spring. The original plan was to furnish steam-coal for locomotives to the Illinois Central R. R. Co.; and upon this expectation the investment of capital was made. The field was entirely new; and the softness of the coal at the outcrop induced the belief that it could be very cheaply mined. A contract for the delivery of a large quantity of coal to the railroad was accordingly executed. But with the advance of' the entries to increasing distances from the outcrop, the coal proved so hard that it could no longer be drilled with a breast-auger; and the expense of mining became so great that the contract for cheap steam-coal had to be canceled. It became evident that the work must be done with machinery and explosives, if it could be profitably done at all. On the other hand, the excellent quality of this coal opened, at the same time, a possible market not specially contemplated at the outset—namely, that of a first-rate coal for domestic and general uses. Since no other deposit of such coal was known to exist on the line of the Illinois Central, or any other railroad

Jan 1, 1907

ERNST PROCHASKA, Bonne Terre, Mo. (written discussion*).-The special importance of this paper is the fact that it calls special attention to the existence of organic sulfur in coal. Many writers have denied the existence of a chemical compound of carbon with sulfur in coal, .but later investigations, and especially the paper by Fraser and Yancey, prove undeniably its existence. As we become more fully convinced of its existence and as the present methods of washing, either in a jig or on tables, are unable to separate the organic sulfur, it remains for an inven-tive genius to perfect a chemical washing process whereby the sulfur will be, dissolved out of the coal, or we must abandon entirely the washing of such coal.

Jan 11, 1919

By W. J. Carlson, I. Iwasaki

A previous article reported a combination process for recovering both metallic iron and metallic manganese from the manganiferous iron ores of the Cuyuna Range in Minnesota.' In this process, the iron was recovered by direct reduction and magnetic separation and the manganese was recovered from the nonmagnetic tailing by leaching and electrolysis. The current efficiency during the electrolysis of manganese is quite low, in the range of 60 to 70%, due to the simultaneous plating of hydrogen.2,3 The parameters that affect the current efficiency are (1) the concentrations of the manganese ion and the ammonium sulfate buffer, (2) the effect of autoxidant, (3) temperature, (4) pH, and (5) current density. To study the plating characteristics of manganese metal.

Jan 1, 1969

By O. P. Dolph

SPANIARDS were probably the first to mine the rich surface ore in the veins cutting the rhyolite capping that outcrops on the hills of La Mazata, oil the Allyones side of the Magdalena valley in Jalisco, Mexico, although the name comes from a word of Indian origin meaning "deer". The camp is about 12 km. west of Magdalena, a town on the Southern Pacific Railroad, and about 17 km. north of Etzatlán, on the Mexican National Railroad, at an elevation of 4500 ft. The climate is subtropical with no extremes of heat or cold, the rainy season beginning in June and ending in October.

Jan 1, 1938

By B. Ball, D. W. Fuerstenau, P. C. Kapur

A two-phase distributed-parameter model of the flotation process has been extended to allow consideration of the important process parameter, concentrate grade. A simple expression is presented for the grade of concentrate in terms of the zeroth and first moments of the concentrate distribution. An example is given for a binary ore containing two pure minerals each having nondistributed rate constants. For extend-ing the model to the distributed rate constant case, a cubic polynomial zoas utilized to simulate the feed distribution. One particular example is considered and grade-recovery curves are generated to show the dependence of such curves on the initial feed distribution. Operating flotation plant engineers have traditionally evaluated plant performance in terms of the recovery of valuable mineral and the grade of the concentrate. In both operation and research, grade-recovery relationships have been used as a guide for selecting flotation conditions. Weissl illustrated the use of grade-recovery curves in plant operation and considered the grade-recovery relationship to be a metallurgical one. The extensive experimental work of Chi" using standard batch flotation tests on iron ores shows that, even with extensive statistical correlation of data, little insight can be gained into the basic fundamentals of these relations. Such relations must depend on the kinetic behavior of the various mineral species in the flotation circuit. In his flotation text book, Gaudin3 considered the relationship of recovery and of product grade to flotation kinetic indices, but he did not extend his calculations to yield grade-recovery relations. Although Gaudin used a simplistic model for his analysis, he did recognize that variations in flotation rates must result from variations in locking, surface heterogeneity, particle size and shape, among other things. In a recent paper,' we presented a model of the flotation process that could be readily analyzed with an analog computer. This model combines the concept of a distributed set of rate constants"" with that of the two-phase flotation model,8" resulting in a model more powerful and flexible than previous ones. The purpose of the present paper is to show how this model can be used to generate grade-recovery curves and to determine the dependence of such curves on the various kinetic parameters. In this paper, the model will be limited to the semi-batch case, but extension to the continuous case is a straightforward step.

Jan 1, 1971

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page 1 Wilkes-Barre, Pa May, ?71 1 3 2 Bethlehem, Pa August, ?71 1 10 3 Troy, N Y November, ?71 1 13 4 Philadelphia, Pa February, ?72 1 17 5 New York, N Y May, ?72 1 20 6 Pittsburg, Pa October, ?72 1 25 7 Boston, Mass February, ?73 1 28 8 Philadelphia, Pa May, ?73 2 3 9 Easton, Pa October, ?73 2 7 10 New York, N Y February, ?74 211 11 St Louis, Mo May, ?74 3 3 12 Hazleton, Pa October, ?74 3 8 13 New Haven, Conn February, ?75 3 15 14 Dover, N J May, ?75 4 3 15 Cleveland, 0 October, ?75 4 9 16 Washington, D C February, ?76 4 18 17 Philadelphia, Pat June, ?76, 5 3 18 Philadelphia, Pa October, ?76 5 9 19 New York, N Y February, ?77 5 27 20 Wilkes-Barre, Pa May, ?77 6 3 21 Amenia, N Y October, ?77 6 10 22 Philadelphia, Pa. May, ?78 6 18 23 Chattanooga, Tenn May ?78 7 3

Jan 1, 1923

By Stanley M. Miller

For rock or soil materials assumed to be generally isotropic and homogeneous, seepage theory and analytic geometry can be used to develop a mathematical technique for estimating the steady state, pie-zometric drawdown to a slope face. The resulting parabolic drawdown curve is a function of slope angle and the height of the original water table above the slope toe. When the slope is cut at a rate faster than that which allows a steady state to be attained, a non- steady state analysis approximates the transient drawdown. Monte Carlo simulation provides realizations of possible drawdown curves that can be included in slope stability risk analyses.

Jan 1, 1983

By W. O. Philbrook, A. H. Jolly, T. R. Henry

IN the course of a study of slag-control methods, the authors devised a laboratory technique by which the basicity of basic open-hearth furnace slap could be estimated with sufficient accuracy to make the method of possible interest for slag-control purposes. The process consisted of measuring the slight basicity of an extract of the powdered slag in water. The procedure was presented, for the benefit of those who might care to experiment with it, in a paper submitted in the 1944 McKune Award Contest and presented at the 1944 Open-hearth Conference in Pittsburgh.1 Interest expressed at that meeting and favorable operating experience with the method at a neighboring plant, as described in a related paper by Michael Tenenbaum and C. C. Brown,2 have encouraged us to present further details of the development, technique, and pitfalls of the method and some additional data not included in our first report. At the outset it must be admitted that this method of estimation of slag basicity is not perfect; neither is any other that we know of. It is subject to somewhat greater errors than would be desirable, but compares favorably with other techniques in this respect. It has the disadvantage that it places the final determination of slag basicity in the hands of a laboratory technician rather than the furnace operator, although it can be operated in a control laboratory adjacent to the furnaces. It requires close attention to certain details, as do most laboratory procedures. On the favorable side, it eliminates the "human factor" of personal judgment inherent in estimation from pancakes or powdered samples. The procedure can be placed in practice much more rapidly and presents much less of a training problem than visual methods of estimation. The principle and operation of the method are so simple that it would not be surprising if others have experimented with the same or similar procedures, but we are not aware of any prior publication of details. Our own shop has been operating fairly successfully for several years with the aid of slag pancakes. Since the past year or two have not been favorable for the expenditure of time and energy where the need was not urgent, we have not introduced the new practice for actual slag control and hence do not have extensive operating data. In presenting this method, therefore, we make no claims as to theoretical justification nor guarantees as to practical applicability, but offer it as an empirical observation. We believe it has sufficient merit to warrant its investigation by those just instituting a slag-control program or in search of supplementary methods for judging slag basicity PRINCIPLE OF THE METHOD It is well known that when burnt lime or slaked lime is shaken up with water it

Jan 1, 1945

By E. T. Dumble

Introduction..........914 I. Topography,........915 The Nueces Basin........915 The Coastal Slope...........918 Streams..........919 II. Geology..........921 Eocene..........923 Basal Beds .......923 Lignitic Stage........923 Atascosa Sections......924 International and Great Northern Sections .. . 928 Leona Sections.......929 Nueces Sections....929 Rio Grande Sections.....930 Lower Claiborne Stage......932 Marine Beds ........933 Atascosa Sections....... 933 International and Great Northern Sections .. . 934 Frio County Sections,.....935 Rio Grande Sections.....936 Yegua Clays........938 Atascosa Sections......938 Tilden Sections.......941 International and Great Northern Sections .. . 942 Rio Grande Sections.....942 Fayette Sands........945 Atascosa Sections......946 Tilden Sections......948 Rio Grande Sections.....950 Frio Clays........953 Atascosa-Frio Sections.....953 Tilden-San Diego Sections....955 Rio Grande Sections......955 Neocene ....966 Oakville Beds.......957 Lapara Beds,....... 987 Nueces Sections......958 Bartlett's Ford Sections.....959 Fort Merrill Section......963 Lapara Sections,.....964 Tilden-San Diego Section.....967 Lee Tiendas.......969

Jan 1, 1903

By Douglas Ashmead

In his paper Mr. Braley makes no mention of the bacteriological aspects of the problem. It is now quite well established that certain bacteria play a major role in formation of acid mine waters, and it is a simple matter in the laboratory to show that under sterile conditions the rate of acid production from a pyrites suspension is only about one quarter of that obtained from a similar suspension inoculated with drainage from a mine producing an acidic pit water. Under sterile conditions the oxidation is due to direct chemical action and, from the evidence just given and from much other evidence, this increase under nonsterile conditions is due to certain bacteria. Experiments recently completed, and shortly to be published, have shown that this bacteriological oxidation can be prevented by the maintenance of pH conditions above 4. It was found that to raise this pH above 4 at the beginning of the experiments was not sufficient but that, due to the continuing chemical oxidation, alkali had to be added daily to maintain the pH conditions above 4. The amount of alkali added, however, over a fixed period, was only about one quarter of the alkaline equivalent of the acid produced when pH conditions were not controlled over an equal period. The opinion expressed by Mr. Braley that sodium hydroxide has little or no effect on the rate of oxidation of pyrites is not substantiated by the above experiments. The writer does not claim that these results show a practical solution to the problems, especially in abandoned workings, but feels that the application of an alkaline coating, such as lime wash, to exposed accessible workings might be well worth trying. S. A. Braley (author's reply)—In 1919 Powell and Parrl suggested that bacteria, or some catalytic agent, hastened the oxidation of pyritic or marcastic sulfur in coal. Carpenter and Herndon (1933)' attributed the action of Thiobacillus thiooxidans. Colmer and Hinkle (1947)3 observed an organism similar to T. thiooxidans and another organism that oxidized iron. Leathen and Braley 9rst discovered this organism in 1947 in a sample of water from the overflow of the Bradenville mine (Westmoreland County, Pennsylvania). They characterized the organism in 1954" and gave it the name Ferrobacillus ferrooxidans. Although Temple and Colmer (1951)' had suggested the name Thiobacillus ferrooxidans, since they claimed it oxidized both ferrous iron and thiosulfate, we have found that pure cultures of the organism do not oxidize thiosulfate, hence the name F. ferrooxidans. In 1955 Ashmead7 isolated an organism, similar to the one called Thiobacillus ferrooxidans by Temple and Hinkle, from acid mine water in Scotland. It is probable that this organism was F. ferrooxidans. In 1954 Bryner, Beck, Davis, and Wilsonh reported microorganisms in effluents from copper mine refuse. These organisms appeared to be similar but were not in pure culture. In view of this history of bacterial investigation of acid mine water and our own ten years of experience, we do not agree with Mr. Ashmead that bacteria play a major role in acid formation. We do not find that any of these bacteria will directly oxidize pyritic material. They do, however, augment the chemical formation of sulfuric acid by atmospheric oxidation. In two papers in 1953% eathen, Braley, and McIntyre discuss the role of bacteria in acid formation and postulate the mechanism through which they operate. Mr. Ashmead in his discussion of my paper has assumed that this work was carried on in the presence of acid mine water in which bacteria would be present. This was not the case. Strictly sterile conditions were not maintained, but the organisms present in mine drainages were definitely absent in these experiments. We believe that we have demonstrated that alkalis do not inhibit the chemical oxidation of pyritic material. This is also indicated by Mr. Ashmead's discussion in which he says that alkali must be added daily due to the continuing chemical oxidation. It is interesting to note that Mr. Ashmead finds that maintenance of pH above 4.00 decreases the activity of the bacteria. We have found also that a decrease in pH below 2.8 also inhibits its activity. Table XIII of published data'" illustrates the decrease in activity with increased acidity, although pH values are not given. These values are in comparison with uninoculated controls and show the marked increase in acidity up to 22 weeks but a decline at 29 weeks, at which time the experiment was terminated. It is probable that after a longer period only chemical oxidation would have continued. From our studiesv we have postulated that the iron oxidizing bacterium (Ferrobacillus ferrooxidans) oxidizes the ferrous iron, resulting from chemical oxidation, to ferric iron. The ferric iron then aids the atmospheric oxidation of the sulfuritic material and is itself reduced to ferrous iron, which in turn acts as food for the autotrophic bacteria. Study of the physiologic properties of F. ferrooxidans shows that its preferred pH is about 3.00 and its activity decreases with variation in either direction. It is extremely inactive above pH 4.00 and below 2.5. This inactivity above 4.00 is indicated by Mr. Ashmead's observations. These properties of F. ferrooxidans then correlate perfectly with our hypothesis. Ferrous iron is oxidized very slowly by atmospheric oxygen in highly acid sohtion and since the bacteria become inactive, acid is formed only by atmospheric oxidation. At a pH of 4.00 or above iron is more readily oxidized by atmospheric oxygen, but the bacterial activity is decreased. However, with a pH above 4.00 the ferric iron is removed from the field of activity since its soluble sulfate hy-drolyzes and precipitates the iron as ferric hydroxide or a basic sulfate. As we have shown in the paper under discussion, the alkali does not inhibit the chemical oxidation, and thus the acid formation continues. This

Jan 1, 1957

General discussion on the above subject, presented at the Pittsburgh meeting, October, 1914. GEORGE S. Rice, Pittsburgh,. Pa.-Undoubtedly there is a serious problem through the juxtaposition of gas and oil wells and coal mines, not only at the present time, but possibly of far more serious import for the future. If one examines a map of the coal fields on which is superposed the oil and gas fields of the country, one finds that they overlap to a very great extent. I may say at the beginning that we have not, so far as I know, had any very large number, of accidents growing out of this situation causing loss of life. Such accidents, or rather incidents, that have occurred have all been rather potential possibilities for disasters due to the leakage of gas from wells into the adjacent coal mines. The condition has been most acute in the Fairmont district of West Virginia, and in the general coal fields southwest of Pittsburgh in Pennsylvania. The accidents which have actually occurred were summarized in Bulletin No. 65 (Oil and Gas Wells through Workable Coal Beds) issued by the U. S. Bureau of Mines, reporting the transactions of several meetings in Pittsburgh, February, 1913, of oil and gas well representives, State geologists, State mine inspectors, coal-mine operators, and representatives of the U. S. Bureau of Mines. This conference was partly brought about through a case in which the Pennsylvania State inspection department had brought suit to restrain a gas company from completing a well through a certain mine. The office of the Attorney General of Pennsylvania asked the opinion of the Bureau of Mines upon the matter; about the same time the Association of State Geologists, at its New Haven meeting, asked the Bureau to take up the problem. Accordingly, it was thought advisable to bring together the several, interests. For the most part the danger is, I think, greater in the future, than at the present time Many parts of the coal fields of Pennsylvania, in Greene County particularly, have been penetrated by numerous wells very close together, and with the present practice of having a large coal pillar around each well, has made or will make the mining of many areas difficult or pro-

Jan 4, 1915

By AIME AIME

BESIDES commanding increasing importance as an alloying element in combination with ferrous and other nonferrous metals, the variety of uses for pure nickel continues to widen. For coinage it is growing in popularity. These coins have been minted for 27 countries in 72 issues representing 69 denominations. Approximately 3,000,000,000 pieces have been struck, the aggregate weight, of which amounts to nearly 14,000 tons. . Danzig, Iraq and Japan are the most recent governments to adopt, pure nickel coinage. France is adding the denomination of five francs to its other nickel currency; they replace silver pieces. Germany is now minting a new issue of one Reichsmark coins of pure nickel. The Japanese program for 1933 called for the issue of 35,000,000 10-sen pieces and 30,000,000 5-sen pieces. In radio tube manufacture the consumption of pure nickel was approximately twice that of 1932. During 1.933 the nickel plating process by which bright deposits may be plated

Jan 1, 1934

INTRODUCTION The after-tax rate of return that properly discounts future cash flows is usually referred to as the "discounted cash flow-rate of return" (DCF-ROR). The method is also referred to as the internal rate of return, true rate of return, and investor's rate of return in some literature. According to Stermole (1974, p. 188) industry polls indicate that the DCF- ROR method is the number one economic evaluation decision method used by more than 90% of the industrial companies that use for- mal economic evaluation procedures. Other economic evaluation methods that have been used in the past, such as payback period, accounting ROR, etc., have largely given way to DCF-ROR analysis because they fail to account properly for the time value of money. DCF-ROR is generally defined as that rate of return that makes the present worth of future generated cash flow over the life of the project (including after tax salvage value) equal to the present worth of all after-tax investments. The "present worthing" of future cash flow involves discounting future cash flow to a present value according to the mathematics of compound interest at some interest rate. The determination of the interest rate that equates the present worth of future after-tax earnings with the present worth of all after-tax investments necessary to create such earnings is properly called the discounted cash flow rate of return analysis. Although present worth calculations are usually used for determining the DCF-ROR, the same results can be obtained by comparing income and costs of any equivalent point in time, i.e., future worth, etc.

Jan 1, 1980

Despite the uncertain political situation in Katanga, copper and cobalt mining and metallurgical operations of Union Miniere du Haut-Katanga were normal at the time of this writing. In fact operations continued normal after Congo independence on June 30, 1960, with copper and zinc production for that year being slightly higher than in 1959. United Nations military operations from September to December 1961 resulted in death, shutdowns and damage to company persons and installations. Nevertheless, results for that year were only slightly off normal production. Moise Tshombe delared Katanga a separate state after Congo independence. Although there has been tribal unrest, the new State has enjoyed relative calm and normal industry by comparison with other parts of the Congo as a result of the firm hand of Moise Tshombe's government and the continued presence of Belgian officials and technicians.

Jan 12, 1962