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By David B. Reger

Wildcat drilling for new supplies of gas and the expansion of previously discovered oil and gas pools were the principal petroleum activities in West Virginia .during 1942. Much of the new gas exploration is still uncompleted and still indecisive but various wildcats made substantial extensions to existing pools. Out of 53 wildcats drilled 27 resulted in commercial gas and 6 in commercial oil. Four of the oil discoveries also had commercial gas. No strictly new pools of oil or gas can safely be described as discovered but several scattered oil and gas wells previously drilled have been confirmed as the openers of definite pools; also, various completions closed wide gaps between apparent gas pools already discovered. The proved oil territory of the state was increased about 4850 acres and the proved gas territory about 51,000 acres. The new proved oil reserves should about balance withdrawals and the new gas may represent a substantial increase. Aside from the drilling in four rather lively pools, oil activity was slight because of unfavorable operating conditions and prices. Gas drilling also declined for reasons beyond the control of the operators. The account of operations, as gathered from trade journals and other reporting services, shows that 797 new wells were drilled, providing 119 new oil wells with 2762 bbl. of daily new production; 536 new gas wells with 1,228,501,000 CU. ft. of daily open flow: and 142 dry holes. Also... 76 old wells were drilled to deeper sands, with 71 bbl. and 26,034,000 cu, ft. of added production. On the new wells the oil average was 23.21 bbl. per well per day; and the gas average was 2,270,406 CU. ft. per well per day. On new wells the ratio of dry holes to completions was 17.82 per cent. On deeper drilling the ratio of failures was 21.05 per cent. Production of oil for the year was estimated by the Oil ad Gas Journal as 3,492,000 bbl., as compared with 3,378,000 bbl. in 1941. Production of natural gas for the year is estimated by the author as 220,000,000,000 cu. ft., as compared with the U. S. Bureau of Mines final figures of 207,000,000,000 cu. ft.* in 1941. General State op Industry Leasing of wildcat acreage increased considerably. The total land of all classes under lease may now exceed 5,000,000 acres. Taking into consideration completions, abandonments and corrected figures or estimates, Table I shows cumulative and late annual statistics. New Pools and Extensions Table 2 shows the principal areas of drilling activity during 1942. Various consolidations of territory, hitherto treated as separate pools, have been made. in addition to these active pools, extensive drilling was done in numerous other areas where pool boundaries can hardly be defined. Summary or Exploration Table 3 gives a summary of important wildcat or exploratory wells drilled during

Jan 1, 1943

By David B. Reger

Wildcat drilling for new supplies of gas and the expansion of previously discovered oil and gas pools were the principal petroleum activities in West Virginia .during 1942. Much of the new gas exploration is still uncompleted and still indecisive but various wildcats made substantial extensions to existing pools. Out of 53 wildcats drilled 27 resulted in commercial gas and 6 in commercial oil. Four of the oil discoveries also had commercial gas. No strictly new pools of oil or gas can safely be described as discovered but several scattered oil and gas wells previously drilled have been confirmed as the openers of definite pools; also, various completions closed wide gaps between apparent gas pools already discovered. The proved oil territory of the state was increased about 4850 acres and the proved gas territory about 51,000 acres. The new proved oil reserves should about balance withdrawals and the new gas may represent a substantial increase. Aside from the drilling in four rather lively pools, oil activity was slight because of unfavorable operating conditions and prices. Gas drilling also declined for reasons beyond the control of the operators. The account of operations, as gathered from trade journals and other reporting services, shows that 797 new wells were drilled, providing 119 new oil wells with 2762 bbl. of daily new production; 536 new gas wells with 1,228,501,000 CU. ft. of daily open flow: and 142 dry holes. Also... 76 old wells were drilled to deeper sands, with 71 bbl. and 26,034,000 cu, ft. of added production. On the new wells the oil average was 23.21 bbl. per well per day; and the gas average was 2,270,406 CU. ft. per well per day. On new wells the ratio of dry holes to completions was 17.82 per cent. On deeper drilling the ratio of failures was 21.05 per cent. Production of oil for the year was estimated by the Oil ad Gas Journal as 3,492,000 bbl., as compared with 3,378,000 bbl. in 1941. Production of natural gas for the year is estimated by the author as 220,000,000,000 cu. ft., as compared with the U. S. Bureau of Mines final figures of 207,000,000,000 cu. ft.* in 1941. General State op Industry Leasing of wildcat acreage increased considerably. The total land of all classes under lease may now exceed 5,000,000 acres. Taking into consideration completions, abandonments and corrected figures or estimates, Table I shows cumulative and late annual statistics. New Pools and Extensions Table 2 shows the principal areas of drilling activity during 1942. Various consolidations of territory, hitherto treated as separate pools, have been made. in addition to these active pools, extensive drilling was done in numerous other areas where pool boundaries can hardly be defined. Summary or Exploration Table 3 gives a summary of important wildcat or exploratory wells drilled during

Jan 1, 1943

By John P. Dolan, Charles A. Einarsen, GiIman A. Hill

his paper discusses how the following formation characteristics can be determined mathematically from drill-stem test pressure charts: true formation pressures, effective permeability of the entire section tested, well productivities, wellbore damage, and possible detection of barriers (faults, pinchouts, etc.). This paper also presents a practical method for im-mediate determination of eflective permeability and well-bore damage from successful double shut-in pressure tests. A list of recommendations for improving the reliability of drill-stem rest pressures is also presented. INTRODUCTION A drill-stem test is a temporary completion designed to sample the formation fluid and to establish the possibility of commercial production. Early pressure recording devices were used merely to verify proper operation of the testing tool. Until recently the accuracy of the pressure gauges has been insufficient for any reliable quantitative use of the recorded pressures. In view of the need for more reliable formation evaluation and as a result of the recent interest in exploration work employing the concept of hydrodynamic en-trapment,1,2,3,4 better pressure recording gauges are now in use. These devices can record pressure within 1 per cent above 1,000 psig and can detect differential pressures as low as 1/2 psig. In addition to formation pressure, several other reservoir characteristics can be determined from DST charts; namely, well productivity, formation permeability, wellbore damage, and the possible existence of bar- riers (faults, pinchouts, changes in permeability, etc.). This paper presents a practical method to interpret DST pressure charts for formation pressures and many other reservoir properties, a method that has been developed in analyzing approximately 4,000 DST charts during the last five years. The techniques used are a composite of published articles on drill-stem testing5,6, together with well-known pressure build-up analysis methods. THEORY It has been shown7,8 that the following equation may be used for analysis of pressure build-up curves: Po - Pw = 162.6 qu/kh log ( to + ?/?) .....(1) When this equation is applied to the curves obtained in drill-stem testing, the assumptions and boundary con-ditions are more nearly realized than in conventional flow and build-up tests on producing wells. Zak and Griffen9 have recently discussed in detail the use of this equation in analyzing DST charts. One of the problems with DST curves is the lack of reservoir data for precise analysis. Therefore, it is necessary to develop empirical rules and field methods for analyzing DST charts in quantity. For this reason, the empirical methods presented in this paper have been developed, and their derivation is found in Appendices A and B. METHOD USED FOR ACCURATE READING OF DRILL-STEM TEST CHARTS In order to apply the pressure build-up theory to DST charts, it is necessary to obtain a digitized expression for the pressure and time data recorded by the pressure gauge. These data may be either provided by the service company or interpolated by projecting a

Jan 1, 1958

By Robert B. Fulton

The objective of this chapter is to discuss the interrelationship between industrial minerals and chemical manufacturing. It is intended to supplement rather than duplicate the commodity chapters. Particular emphasis is given to the pertinent chemical element and to market factors. Condensing this broad subject into a few pages of this handbook permits treating only the most important elements derived from industrial minerals. Hydrocarbons, which quantitatively dominate as raw materials for the chemical industry, are omitted, as are the metallic elements and the minerals covered in other "use" chapters such as phosphorous, potassium and nitrogen for fertilizers, and titanium dioxide for pigments. The remaining six elements of major importance are: boron, bromine, chlorine, fluorine, sodium, and sulfur. These elements are treated individually under separate headings. Table I (Jones, 1973) affords an overview of the main industrial minerals, the chemical products derived from them, and end uses of the products. Salt brines have particular importance as raw material sources for the chemical industry. Table 2 (Anon., 1967) is a chart of the chemical compounds derived from four types of brines: (1) Owens Lake-type brines, which are sources of boron and sodium compounds; (2) Midland-type brines, from which bromine, iodine, and chlorides of calcium, magnesium, potassium and sodium are derived; (3) Searles Lake-type brines, yielding boron, bromine, lithium, magnesium, potassium, and sodium compounds; and (4) Silver Peak-type brines, produced mainly for lithium. Market Attributes Some of the important market traits common to industrial minerals used by the chemical industry are listed below. 1. They are international commodities, such as fluorspar and sulfur, which largely move to foreign consumers. 2. Grade, and freedom from deleterious elements are important factors affecting their usability in chemical processes. An example is salt (NaCl) used in electrolysis where ultrapure evaporated salt is required to meet rigid specifications. 3. Purified products take on the characteristics of specialty items and command a distinctly higher price than the basic commodity from which they are derived. 4. In practically all cases, chemical users require some sort of cleaning or beneficiation of the naturally-occurring mineral to bring it to specification, and individual specifications may vary from user to user for essentially the same use. 5. In some instances it is necessary to strike a balance between what the vendor can supply and what the buyer requires, with the result that specifications have to be eased to afford the needed materials in marginal cases. 6. Because they tend to be bulk commodities, low cost for handling and transportation are important and such costs may limit the area from which a chemical user can draw his supply. For example, fluorspar from China and Thailand normally goes to Japan, while South African fluorspar can go either to Japan or to the US. 7. Shipments are usually in bulk and frequently in multiple-car, full-trainload or full-shipload lots to reduce transport costs, which in turn may require large terminal investment facilities.

Jan 1, 1983

By A. A. Watts, R. I. Jaffee, F. C. Holden, H. R. Ogden

Hypoeutectoid Ti-Cu alloys are responsive to heat treatment, and considerable variation of mechanical properties may be produced by transformation of the ß phase. Control of cooling rate, isothermal transformation, or quench tempering determine the transformation structure and properties. The transformation products are similar to those of carbon steel. THE equilibrium diagram for the Ti-Cu system has been studied by various investigators, and the most recent diagram is that determined by Jou-kainen, Grant, and Floe.' The titanium-rich portion of this diagram is reproduced in Fig. 1. The alloy compositions and annealing temperatures used in this work are shown. The Ti-Cu alloys containing up to 17 wt pct Cu are representative of an active eutectoid alloy system. Joukainen et a1.l have stated that ß phase cannot be retained on quenching and this has been confirmed in the present work. The similarity between the Ti-Cu system and the Fe-C system is evident and, as will be shown later, many of the transformation products appear to have similar microstructures. Heat treatments in this program were designed to produce the structures of primary interest for study and determination of mechanical properties. Experimental Procedures Preparation of Alloys: Five ½ lb ingots, ranging in composition from 0.8 to 6.83 pct Cu, were prepared by double arc melting in an atmosphere of high purity argon. Titanium melting stock was obtained from high purity iodide titanium, and copper additions were made from copper wire clippings. Segregation was reduced by inversion melting, in which the once-melted ingots were inverted in the crucible and remelted. The double-melted ingots were forged at 1600°F to ¾ in. diam rods, with both heating and forging operations being carried out in air. Surface scale was removed by grit blasting and grinding, after which the forgings were vacuum annealed at 900°C. The alloys then were swaged to ¾ in. diam rod at 750°C and test specimens were cut from this material. The vacuum annealing operation was to remove dissolved hydrogen, which is commonly present in the iodide titanium as-received. Although vacuum fusion analyses were not obtained for all these alloys, past experience indicates that the 6 hr treatment with a limiting pressure of 10- to 10-5 mm of Hg is sufficient to reduce the hydrogen level to 10 to 30 ppm. Vacuum fusion analysis of the 0.8 pct Cu alloy showed 19 ppm of hydrogen. In addition to the five hypoeutectoid alloys, three 15 g ingots were prepared with nominal copper additions of 9, 10, and 11 pct. Fabrication procedures were similar, except that these alloys were rolled to 0.040 in. sheet. Microstructure specimens only were obtained. Table I shows analyzed compositions and fabrication temperatures for these alloys. Heat Treatments: All heat treatments were made in potentiometer-controlled, resistance-wound tube

Jan 1, 1956

By A. D. McMaster, M. L. Gimpl, N. Fuschillo

Low-power, high-speed, radiation-resistant, monolithic thin-film integrated circuits require thin-film resistors of high sheet resistance which are compatible with the processing requirements for monolithic silicon devices. For this purpose the structure and electrical resistance as a function of temperature were investigated for Nichrome-silicon monoxide cermet films on passivated single-crystal silicon substrates. A suitable material was found to be a mixture of 50 vol pct Nichrome-50 vol pct silicon monoxide. This mixture, when evaporated onto 300°C substrates. showed a low temperature coefficient up to 400°C, at both 270 and 1100 ohms per square. Resistors deposited on room-temperature, 300°, and 500°C substrates were heat-treated at 600°C in air for short periods of H- seed, low-power, radiation-re sis tant, monolithic thin-film integrated circuits'-3 require thin-film resistors of high sheet resistance and low temperature coefficients of resistance which are compatible with the processing requirements for monolithic silicon active devices. The present investigation is directed towards the replacement of the Nichrome in the sandwich-type SO2-Nichrome-SiO resistors, currently used for DTL monolithic thin-film integrated circuits, with codeposited Nichrome-SiO cermet resistors. These Nichrome-SiO resistors are provided with an overcoat of SiO and are deposited onto thermally oxidized silicon wafers used in monolithic mi-crocircuit technology. The cermet resistors are shown to provide a lower temperature coefficient of time totaling up to 45 min. Electron nzicrogvaphs and diffraction patterns were taken of the as - deposited and heat-treated films. These results were then compared with electrical-resistance measurements for each condition. The room-temperature and 300°C substrate films showed a large decrease in resistance. The 500°C substrate film remained stable throughout the entire cycle. Electron-microscopy results show that the increased stability after heating to 600°C is largely due to crystallization of the films which begins in the vicinity of 400°C. The slight oxidation of the films when heated in air had a negligible effect on the resistance. The resistance of the film was a function of the substructure. resistance and a more versatile compatibility with silicon monolithic processing. Previous work3, on chromium-SiO coevaporated cermet resistors on glass and ceramic substrates without overcoats of SiO has been reported. For the present application, the thin films should possess the following ideal requirements: a) a temperature coefficient of resistance as near zero as possible up to 300°C; b) have a sheet resistance higher than 200 ohms per sq to conserve space on the chip; c) be easy to evaporate; d) be oxidiation- and radiation-resistant; e) show long-time stability at 100°C; } be stable in N2 atmospheres up to 600°C for short periods of time (5 to 45 min). Requirements a to e are well-known. The last requirement was optional and was due to a mask elimi-

Jan 1, 1967

By J. L. Workman

The Putnam Coal Mine, at design capacity, will be the third largest underground bituminous coal mine in the world and will feature the world's longest single flight belt conveyor. Construction is now in process; initial mining will commence in early 1969 and design capacity will be reached in 1971. The Putman Coal Mine reserves are located in south-central West Virginia and contain approximately 27,000 acres of prime Pittsburgh No. 8 coal; reserves are sufficient to support a 3.5 million tpy operation for over 30 years. The mine portal area is located some six miles inland from the Kanawha River. The river loading facility is located approximately 156 miles by way of river from the market.

Jan 1, 1969

By Russell S. Sage

THE electric motor has steadily replaced the steam and air engine for use in mine hoists, until today a new installation with other than electric drive is a rarity. Much existing steam-driven equipment has been changed over to electric drive. Driving power has grown in capacity since the initial electric unit rated 10 hp installed at Aspen, Colorado, in 1888, to 3000 hp and 4000 hp in the United States, and to 5500 hp in Canada-the largest in the Western Hemisphere. Electric installations now total in the thousands of units, a growth largely made possible by the development of large central electric-power stations and the extension of electric-power service to more mining areas.

Jan 1, 1949

By I. R. Taylor

Union Carbide has recently developed two open- pit vanadium mines in the Wilson Srpings area of central Arkansas about five miles southeast of Hot Springs. The ores from these mines, together with those from a larger vanadium deposit at nearby Magnet Cove, are processed at a new 1600- tpd plant built by the company in the immediate vicinity (Fig. 1). The Wilson Springs vanadium deposits are associated with the Potash Sulfur Springs intrusive, a circular igneous complex which is exposed over an area that is somewhat less than a mile in diameter.1 The complex has a crude ring structure similar to that of the larger Magnet Cove instrusive six miles to the east.2

Jan 4, 1969

By F. E. ROGERS

CUSHMAN TUNNEL No. 2 is adjacent to the Hood Canal, near potlatch, Wash. It is 17 ft. inside .diameter, about 13,000 ft., or two and one- half, miles in length, and is a part of the second unit of the Cushman power project. It connects Cushman ' Dam No. 2 and the penstocks that lead to the power house on the beach about 400 ft. vertically below the outlet of the tunnel. One shaft, 190 ft. deep, and two adits between 300 and 400 ft. long, were provided to speed up driving operations. his arrangement gave 6 working headings, which were operated 24 hr. daily. The shaft provided a manway, cageway, and skipway.

Jan 1, 1931

By Arthur T. Ward

DESPITE the intense preoccupation of most of those members connected with the mining, concentration, and reduction of iron ores, the luncheon and subsequent technical session of the Eastern Magnetite Committee were exceedingly well attended. Many of the older faces were absent, but new ones took their places. More than sixty, all told, took in the technical session. Chairman Crockett opened the session by calling upon Meredith E. Johnson, whose paper, with its accompanying graph, was in reality a comprehensive historical review of iron mining from colonial days to the end of 1941. with some notes on current expansion which indicates that New Jersey is destined to become a still more important. factor in the production of magnetite ores.

Jan 1, 1942

By A. J. Weinig

NEED for some simple method of determining tonnages in mill circuits has always been felt by operators and consultants alike. To meet this demand the following method was evolved and has been found accurate and practical after considerable testing on various mill flows. The essence of the method is to add a chemical at a uniform rate to a mill flow, such as a launder conveying pulp, and then determine the concentration of the added chemical in a sample of the pulp. From this procedure the tonnage can be calculated. Common table salt has proved the most satisfactory chemical for ordinary conditions. It has many decided advantages for use in tonnage determinations, among them being the following:

Jan 1, 1933

By William B. Plank

A NEW record-a quarter million students in the engineering schools of the United States and Canada-has resulted from the great demand for engineers following World War II. The figures released by the American Society for Engineering Education and which appeared in detail in the Journal of Engineering Education for January 1948, show that, on Nov. 1, 1947, 252,250 students were studying engineering in 149 engineering schools of both countries. There are 244,390 in the 143 schools canvassed in the United States, and 7860 in six schools in Canada. These figures include both undergraduate and graduate students and are therefore comparable with the figures in previous presentations on this subject. This unprecedented engineering student body

Jan 1, 1948

By E. P. Bayer

MESABI RANGE ore is mined largely by the open-pit method. This involves having available at all times sufficient working places which in combination will produce ore of guaranteed analysis. Fast- loading power shovels turn out under favorable conditions 1000 tons per hour from each unit. Each unit loads ore differing materially in analysis from that loaded by the others, One may load high grade, another low grade, and another may be in a mixed bank with the lead ore so placed that the product must be mixed at the shovel before it is loaded into cars. In such cases the bank is combed with the bucket, the door being left open to permit the material to fall through.

Jan 1, 1937

By AIME AIME

THIS year the Chairman of the Institute's Iron and Steel Division is THIS William Anderson Haven, better known to the membership generally as Bill Haven. The Division Chairman is an individual endowed with a broad perspective of the ferrous metal industry he result of his earlier experiences as a successful operating man in the working and management of blast furnaces and his later experiences as an engineering-consulting executive concerned with the design and erection of and steel works throughout the world. William A. Haven was born to iron steel in the Pittsburgh district on ;. 1, 1888, and in due time--or in 1909 graduated from Penn State with a Bachelor degree in industrial chemistry.

Jan 1, 1944

By B. F. Tillson

Mining may be defined as a general term for the working of valuable deposits of minerals, either organic or inorganic in origin, for their removal from the crust of the earth. Besides subsurface excavations, mining generically includes opencuts, clay pits and stone quarries, oil wells, sulphur wells, salt wells, placers, coal stripping, and the leaching of ore bodies. The origin of the word "mine" or "mining" is a matter of conjecture. A Celtic origin has been suggested since the Irish word mein, or the mwyn, meant ore, but it seems to have come from an olf French verb mineor, which meant to excavate, to make an underground passage as in the military appraoch to a fortification, sometimes called ?sapping.?

Jan 1, 1949

By Arthur Notman

DESPITE the tremendous drop in the volume of domestic production of metals, their prices, and profits, the world as a whole has managed to produce and consume nearly as much as in 1937. Measured by production, 1937 was the record year for copper, lead, and zinc. The Copper Institute figures for 1938 (estimating December as equal to November) show that although apparent domestic consumption declined 309,422 tons, foreign consumption increased 133.035 tons. The total for 1938 was 1,971,790 tons compared with 2,148,177 tons for 1937. The domestic decline was 38.5 per cent, the foreign increase 9.9 per cent, and the total decline 8.2 per cent.

Jan 1, 1939

The following advertisements show the contemporary view of the value of coal on a tract, usually as compared with farming advantages of several kinds. Fayette Gazette and Union Advertiser, February 10, 1798: "For Sale in Washington twp., Fayette Co., 211 acres of land whereon is a good new grist merchant mill, a good stone dam, and a house for the miller, about two acres of bottom, cleared and fenced, an excellent coal bank and saw-mill seat unimproved." Pittsburgh Gazette, March 19 and 26, 1802: Ads. offering for sale two properties, one of 38 acres, "together with a Coal Pitt and Lime Quarry, lying on the Monongahela side of Grant's Hill, and within one mile and a half of Pittsburgh," and the other two tracts of 700 acres on "Racoon creek, contiguous to which is a valuable limestone quarry, and a quarry of building stone, also plenty of stone coal." Pittsburgh Gazette, Oct. 8, 1802: A farm between Pittsburgh and Greensburg "with house, barn and a Smith shop-also, a fine sugar camp, and a Coal Bank within sight of the house," was offered for sale. The Farmers Register, Greensburg, Pa., March 13, 1802: An advertisement of a "plantation, six miles from Greensburg, there are two coal banks on it, one at each end of the place." The Commonwealth, Pittsburgh, Aug. 4,1805: A number of lots were laid off on Saw Mill Run, nearly opposite the first opening made on the Pittsburgh seam. They were from two to twenty acres each "and a great quantity of Limestone and stone coal." Pittsburgh Gazette, Aug. 9, Sept. 6, Sept. 27, Oct. 4, 1811; The Commonwealth, Aug. 19, 1811: Five tracts were advertised that contained coal. One had "fine springs and an inexhaustible mine of coal;" one, "excellent sugar camps, coal banks and limestone and a good mill seat;" one, "good sugar camps, an excellent coal bank and an elegant seat for a distillery;" another, a tract of 45,000 acres in Allegheny and Butler Counties affording "stone coal and iron ore, and seats for water works;" and the last a tract on Beck's Run, four miles from Pittsburgh "and a coal pit opened about one fourth of a mile from the river." The Mercury, Pittsburgh, April 8, Jan. 14, Feb. 11, 1813; Pittsburgh Gazette, April 16, Dec. 3, 1813: These tracts were advertised during the year in the vicinity of the city. One had "a good sugar camp, woodland and plenty of coal;" another, "a sugar camp and a coal bank on the premises;" while the others were "well timbered or well watered and had excellent stone coal." The Mercury, Pittsburgh, Feb. 2, 1814: A farm was offered for sale on the headwaters of Robinson's Run, in Washington County, four miles from Burgettstown, containing 60 acres, "a young bearing orchard,... a coal bank and a good sugar camp." Genius of Liberty and Fayette Advertiser, Uniontown, Pa., March 2, 1814, carried an advertisement of a sale of lots in the new town of Perriopolis; "the quantity and quality of the clay, sand and salt licks, near the premises, together with the timber and abundance of .stone coals The town of Perriopolis was situated upon a . farm at one time belonging to Washington.

Jan 1, 1942

INTRODUCTION Besides the European export credit agencies covered in Ted Rides' paper in this Chapter, other agencies are also active (see Appendix) but the most notable for mining projects are The Export-Import Bank of the United States ("US Exim") and the Export Development Corporation ("EDC") of Canada. Mexico's Fomex is basically a short-term trade-finance fund administered by the Central Bank. US Exim This independent agency can provide loans, guarantees, and insurance. Like all export-credit agencies, its mandate is to support the export of goods and services from the US as a means of competing against other countries' products. If a piece of mining equipment can only he made in the US, the US Exim may very well not provide any financial assistance. (It is important not to place the order for any item for which export credit is sought because, once ordered, the situation is no longer competitive in US Exim's eyes.) Direct Credits and financial guarantees ("buyer credits") are commonly in amounts greater than 85 million and for terms longer than six years. An example here is the $48.5 million provided to PT International Nickel Indonesia (see Robert de Gavre's paper in Chapter 12). US Exim usually requires a 15% downpayment and, therefore, finances up to 857 of the goods; less if the US content is lower. The dollar funding can he US prime, London Interbank Offered Rate (LIBOR), or other sources. Exim can fund in either or both of the following ways: 1. Under a US bank Letter of Credit ("L/C") 2. Reimbursement to the buyer/borrower via a US bank account. US Exim will, without charge, issue a preliminary commitment. It will, however, need to approve the various credit agreements and prefers to tie other parallel financings into one loan agreement. US Exim's total commitments are large, up to $5R billion in aggregate under various programs. US Exim has been the world's leader in medium-to long-term minerals project financings/ co-financings but suffers from (i) aggressive foreign export-credit competition whereby other nations mix in soft-loans or aid programs ("mixed credits") to increase the percentage financed and lower the interest margin and (ii) an imbalance in its own cost of funds. A common US Exim package would be as follows: 15% Banks under US Exim guarantee, floating rate over prime or LIBOR. 35% US Exim funding, fixed rate 35% Pefco funding, fixed rate 857 Drawn down pro-rata under US bank L/C 15% Cash down payment (may have been financed within a project/corporate credit) 100% Repayment usually begins six months after planned start-up in equal semi-annual instalments, with the banks usually paid out first, Pefco next, and US Exim last. Medium-term credits ("supplier credits") are issued for US equipment exports for terms up to five years, again for 85% of the equipment costs although the exporter is expected to bear at least 10% out of that 857 for its own risk. The buyer is required to be a first-class credit such as some governments or highly credit-worthy companies. Otherwise a bank L/C would be required. (This may be wrapped into an overall project-finance package for a minerals development. The project-finance banks provide an L/C to US Exim instead of funding that portion themselves.) US Exim guarantees 100% of the political risk and either 85% or 95% of the commercial risk for

Jan 1, 1985

By N. A. Gokcen, M. N. Dastur

In metallurgical process industries a knowledge of true melting and casting temperatures is very essential for increasing the operating efficiency as well as improving the quality of the finished product. Optical pyrometers are widely used for the purpose because of their cheapness and ease of operation. It is an unfortunate fact, however, that this mode of measuring temperature entails a source of severe error inasmuch as with all non-black bodies, the temperature observed is always below the true temperature owing to deficient emissive power. Hence, the need for emissivity correction arises. In 1913 Bidwell1 obtained emissivity values of 0.36-0.48 for a temperature range of 1520-1800°C. He measured the true temperature of molten iron by sighting into a carbon cavity immersed in the iron under an atmosphere of hydrogen. In 1914 Burgess2 determined the emissivity of a smooth surface of liquid iron free from oxide to be 0.37 under an atmosphere of hydrogen. He claimed to have attained an accuracy of within 5°C at 1500°C with an optical pyrometer using monochromatic light. He reported that no difference appeared to exist between the emissivities of pure iron and of steels containing considerable percentages of carbon, nickel or manganese; nor was there any appreciable variation of emissivity with temperature from 1530 to 1571°C. Wensel and Roeser3 found an elnissivity value of 0.4 for temperatures above 1375°C for cast iron. The average emissivity value for carbon steels reported by Leiber,4 odd,5 Hase6 and Umino7 range from 0.4 to 0.45. Knowles and Sarjant8 made an extensive study of emissivity of molten iron and steel over a wide range of workshop and laboratory conditions. Observations of true temperature were made with immersion thermocouples, and correlated with apparent temperatures indicated by optical pyrorneter readings taken on the pouring stream as it passed over the lip of the crucible. The emissivity of Armco iron was shown to be of the order of 0.4, rising slightly with increasing temperature. But for plain carbon steels containing up to 1.0 pct carbon the emissivity was shown to fall slightly with increasing temperatures. The results of their investigation are in agreement with those of Guthmann.9 Naeser,10 Spencer," Todd5 and Hase6 in regard to the relation between emissivity and temperature for plain carbon steels. However, Goller12 has found a rise of emissivity with increasing temperature for the same steels. Results of several investigations are given in Fig 1. Measurement of True and Apparent Temperatures The necessity for an accurate optical temperature scale for liquid iron in studies of gas-metal equilibria led to this investigation. Experimental measurements were carried out in the induction furnace used by Dastur and Chipman13 in their studies of the reaction of hydrogen with oxygen in liquid iron. The furnace as modified for this work is shown in Fig 2. The atmosphere of the furnace was a mixture of purified argon with hydrogen containing a small controlled amount of water vapor. Gases were preheated by means of a platinum-10 pct rhodium resistance coil. The stream of hydrogen sweeping across the surface of niolten iron vir-

Jan 1, 1950