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By Robert F. Shurtz, William J. Verner

Three basic questions must be answered by an engineer performing an economic analysis of a mineral property: (1) How much can the company afford to pay for the property; (2) At what rate should the property be mined; (3) What will be the return on the investment. These questions often defy reasonable analysis, because at the point in time at which they must be answered little may be known about the grade of ore and the reserve tonnage. The purpose of this report is twofold. First, to derive a method of determining purchase price, rate of production and return on investment which is valid under varying conditions of ore grade and tonnage reserve; and, second, to apply this method to the Margay deposit in an attempt to evaluate it as a business enterprise. This is an actual economic analysis of an existing nickel-copper deposit fictitiously named the Margay. It was carried out for a mining corporation and proved to be the determining factor in the subsequent purchase and development of the property. All data referring to costs, quality and quantity of ore, etc., are accurate and truly represented. Prices used are obsolete but the method is not dependent on those variables. Basic assumptions for the analysis are given in Table I, page 71.

Jan 11, 1966

By M. W. BERNEWITZ

ALTHOUGH many persons know that a lot of type metal and etchings are used in the U. S. Government Printing Office few would expect to find anything on metals in the annual report of the Public Printer, George H. Carter. Yet the report for the fiscal year ended June 30, 1931, contains many interesting items. For example: Among the 57,500,000 lb. of materials and supplies delivered to the printing office was little new metal, but the metal in circulation is 6,000,000 to 7,000,000 lb. In the cost of production $31,523 is charged against metal, nearly one-third for salaries and wages. In miscellaneous sales were $4,696 from waste metal and $1,147 from waste gold (from books). Electrotype and stereotype covered 11,438,314 sq. in. The vaults and storage rooms contain 1,700,000 plates and 130,000 pages of type containing 4,600,000 lb. of metal valued at $275,000. In what was known as the Congressional Globe vault were 46,000 stereotype plates; these were salvaged by remelting for other platemaking service. The Congressional Record superseded the Congressional Globe in 1873.)

Jan 1, 1932

By Eugene McAuliffe

THE heavy shrinkage in the production of bituminous coal has reflected adversely in the matter of tonnage produced by stripping arid mechanical loading machinery. The purchase of stripping and underground loading equipment has likewise been circumscribed. How- .ever a growing percentage of bituminous coal is being loaded by stripping and mechanical loading machinery. This situation is due to the fact that numerous strip pits were able to operate in Illinois and Indiana when under- cover mines were subjected to labor interference, a further advantage gained by their ability to produce and market coal at a price below that of the undercover mines. The mines equipped with mechanical loading. apparatus have enjoyed more continued operation for the double reason that the companies using coal-loading machinery are, generally speaking, more substantial and in better financial condition than many of the smaller properties who maintain hand-loading methods, and the market advantage due to lower production costs also reflects to the advantage of the undercover mines using mechanical loading equipment. Where a number of mines are con- trolled by one company, those not equipped with loading machinery and suffering from higher producing costs have often been closed, with the available tonnage concentrated in the more modernly equipped mines.

Jan 1, 1933

By John V. Beall

Monotonous flood planes flanked either side of the road as we drove in the embassy car from the airport to downtown Seoul. We crossed the brown waters of the Hann River, meandering over mud flats. A great, gnarled tree bore beautiful fall colors of gold. "That is a Ginko Tree, the oldest living fossil, probably a hundred million years old;" said Jean W. Pressler. Compared to other cities of the Far East, the traffic in and around Seoul was sedate. Few motorcycles or bicycles, and little superfluous horn tooting. "This is the best season in Korea. We have long beautiful springs and falls," said Pressler, chief of the mining branch of USAID, and he continued with a briefing on the country.

Jan 8, 1969

By Pual M. Tyler

BLIZKRIEG tactics in the present war have consumed metals on such a profligate scale that some of the best-laid procurement plans for civilian and military needs of even a year ago seem in retrospect incredibly meager. Conservation of raw materials has reached an all-time climax in Germany, where metals are worth more than human life and throwing away an empty toothpaste tube may be legally punished by death. Even the United States and the British Empire, proud masters of nine tenths of the world?s known mineral reserves and processing plants, are being driven to metals and feverishly expanding production facilities that not long ago were deemed overbuilt. After the war is over and inevitable postwar readjustments are completed, it is reasonable to expect that purchasing power ? or at least the ability to procure the comforts and luxuries of life ? will be distributed among vastly larger population than ever before, accelerating the rising trend in demand for industrial raw materials in ever greater quantity and variety.

Jan 1, 1942

By Ta M. Li, John D. Wiebmer

Record high prices, burgeoning exploration programs, mine-mill openings, and plant expansions have all characterized a dramatic: resurgence of the US uranium industry in recent years. But while the bull is leading the way on the production side of the nuclear fuel cycle, there is reason for caution from the end-users' viewpoint. How fast will electrical demand grow in the years to come, and what portion of that will nuclear generators supply? How do utilities play their cards when the government holds two of the largest jokers in the deck-a policy on spent fuel reprocessing and a timetable for the fast breeder reactor? Is there a shortfall in domestic uranium supplies on the horizon?

Jan 10, 1978

By Sallie McCabe Johnson

LIFE IN RUSSIA for the foreign woman is hard. It is up to her whether her days are spent in tearful longing for ironic or whether she :hakes the real effort to ferret out the interesting or amusing side of such exasperating conditions as ooh a Russian can conjure. So to begin Discard all promises.. This is perhaps the most difficult thins- to learn but promises in Russia are nut what they are at home. There are many reasons for ibis, sonic good and some bad but whatever the reason. the fact remains that they are usually worthless- as each of us must slowly learn In, disappointment after disappointment. Also we must learn that we cannot expect to get or to do a certain thing just because someone else has done so. What we did yesterday perhaps cannot be dune today. What we purchased air hour ago, oxen ten minutes ago- we cannot purchase now. What our neighbor did this morning we cannot do this afternoon. Changes arc continuous. Every person's experience is different from that of another aid this in a great measure accounts for the conflicting stories brought horns. In a land of chaos we live only from hour to hour and this is one of the exceedingly exasperating conditions to face. When I wished to visit Leningrad, an overnight nip from Moscow, more than a week's lime w as required to obtain a ticket, vi en through the efficiency of lntourist: alone I might have spent a month at it. Each day

Jan 1, 1932

By A. T. Shurick

WHATEVER the outcome of the Industrial Recovery Act, it has currently injected the first hope and optimism into the coal industry for more than a decade. Compared with the recent drab years the results are impressive: Bituminous production for the first ten weeks, 78,000,000 tons, may be compared with 63,000,000 last year; anthracite, 14,600,000 tons and 9,600,000 tons for the same periods, respectively, bringing the heaviest payrolls in ten years with individual checks reminiscent of former boom times. Hurried calls for long deferred new equipment and replacements have stimulated foundry and machine works and the -invigorating effect on the railroads is indicated by the first actual car shortage in a decade. And even in the welter of confusion over code prices, this heavy tonnage has moved at the most profitable figure the coal man has realized for many years, though with the large volume on old contracts, profits were not as large as many think.\

Jan 1, 1934

By M. C. Manderson

The sharp drop in world phosphate demand that took place in 1975 due to temporarily high prices, now seems to be reversing itself. And prices for both phosphate rock and phosphate fertilizers, which declined dramatically from their 1975 highs, now appear to be bottoming out. This recent price weakness has delayed new mining ventures that had been planned for completion by around 1980. While there is ample capacity to supply near-term rock needs, the stage seems to be emerging for a better supply-demand and price environment in the late 1970's and early 1980's.

Jan 1, 1979

By Michael Chender

The current outlook for financing new copper production is not very encouraging. At a time when companies are slogging through a protracted period of low prices as well as having to accept lower profits due to more stringent tax and royalty schedules, banks are beginning to require companies to take a greater equity interest in new projects. Mineral resource financing, including copper, seems to have lost much of its appeal to the lending institutions, and loans of any kind to many of the developing countries -from which over half of new copper capacity could be expected to come-are being examined much more critically than they were in the late 1960's and early 1970's.

Jan 12, 1976

Born, March 28, 1853 Died July 23, 1916 On July 25, 1916, the Board of Directors adopted the following minute and directed that it be entered upon the records of the Board & published in the Bulletin of the Institute, and thereof be sent to the family of Mr. Kirchhoff: Charles Kirchhoff was one of the oldest, most widely known and most highly esteerned members of the American Institute of Mining Engineers. On his return in 1875 from a European course of study, to begin a highly successful professional career, he joined the Institute, then just commencing to acquire both national and international recognition. He became at once, and-for more than 40 years continued to be, its earnest , and active supporter, serving it as Manager, Councilor or Director for terms aggregating 9 years,-as Vice-President for 2 years, and twice as President for a year. During the critical period of the erection of the United Engineering Society's building, and the transfer of the Institute to permanent head-quarters therein, Mr. Kirchhoff was its efficient representative in the United Engineering Society, and on the Building Committee. In 1910, amid the congratulations of colleagues, employees, and innumerable friends, Mr. Kirchhoff retired from active business as Vice- President and General Manager of a great technical publishing company. Yet he sacrificed of his well-earned leisure yet one more year, to serve the Institute as President through 1911.

Jan 9, 1916

By Robert F. Mehl

PROGRESS in the general field of nonferrous physical metallurgy during the past .year has been uneventful but healthy. A continued increase is apparent in the number of useful alloys and in the mechanical treatment and heat- treatment of finished metals and alloys nothing can hinder the multiplication of alloys or the diversification of their treatment as knowledge of the behavior of .alloys increases; as ternary and quaternary alloys are better understood, hundreds of new metal combinations with unusual properties may well be expected. Evidence of rapid progress is already at hand.

Jan 1, 1936

By E. L. Howard, R. S. Barney back

E. L. Howard (Chief Testing Engineer, Pacific Cement & Aggregates, Inc., San Francisco, Calif.) We have made concrete with all the materials mentioned by Mr. Barneyback, including sawdust. He has highlighted the principal problems and effects found when these light materials are used as concrete aggregate. We can only agree with the inter-relationship he has emphasized between grading, specific gravity and unit weight. Uniformity in these characteristics helps to assure good concrete. Mr. Barneyback says the design of lightweight concrete mixtures "is a complete mystery to most engineers". He is wholly right in his evaluation of our ability generally to put together a concrete using lightweight aggregate. A study of the references he has appended will yield little comfort in the matter of proportioning. Much remains to be done in this area of concrete. We believe Mr. Barneyback has treated the subject, though briefly, in an excellent manner.

Jan 1, 1965

By R. HAYDEN, H. B. HALLOWELL, H. O. Hofman

THE object of refining copper in the reverberatory furnace is to obtain a metal which will have the highest attainable degree of malleability, ductility and electric conductivity, and present at the same time a level surface when it solidifies in the mold after casting. These desirable physical properties are governed by the character of the impurities and the forms in which they are present, by the amount of cuprous oxide retained by the copper, by the quantity of gas held in solid solution, by the casting-temperature, and by the thickness of the casting. The effects of impurities, of cuprous oxide and of gases upon the mechanical properties of copper have been studied by Hampe in his classical paper "Contributions to the Metallurgy of Copper." The most recent research into the effect of metals upon the electrical conductivity of copper is that of Addicks.2 The influence of cuprous oxide upon the electrical conductivity has been investigated by Walker' and Addicks.4 The absorption of gases has received' attention by Hampe,5 Stahl 6 and Heyn.7 The effects of casting-temperature have been noted by Stahl.8

Mar 1, 1907

By I. Nilsson, G. Sundkvist, A. Danielsson

A spectrochemical method of slag analysis is descibed which utilizes fusion of the sample with a flux, then cooling and crushing to put all samples into a common form. The powder, is then fed onto adhesive tape and passed through a spark by means of a special device to provide very reproducible discharge conditions. Combined with a direct-reading optical emission instrument, this system provides speed and accuracy of antilysis heretofore unobtainable for. slag samples by any other method. THERE are many suggested methods for spectro-chemical analysis of slags. The most important are fusion-pellet methods and solution methods. In our company the fusion-pellet method has been used earlier, and is described by Lounamaa. W. H. Tingle and C. K. Matocha have made refinements of the pellet method.' A Committee of the British Iron and Steel Research Association has investigated different methods of spectrochemical analysis of slags. Its purpose was to formulate a method which would give the complete analysis in 30 min with an accuracy of ±3 pct. The committee recommends a solution technique, which was thought to correspond best to their requirements. The method to be described is a fusion-tape method. The sample is isoformed by fusion and grinding. The powder is analyzed with the tape technique. The tape machine and some of its applications are described earlier.4'5 The powder to be analyzed is continuously fed onto a moving adhesive tape, which passes through the spark gap. The sparks break through the tape and vaporize and excite the material to be analyzed. The most outstanding feature of the tape machine is its very high reproducibility. The concept of isoformation has been introduced earlier.= It means a pretreatment of the samples to make them uniform from the spectralanalytical point of view, i.e., cancelling systematic differences between the samples. The purpose of the isoformation is to reduce the influence of particle size, as well as chemical and mineral composition. Before describing the isoformation by fusion plus grinding, which is the purpose of this paper, a few words will be said about two other types of isoformations, i.e., grinding with buffer and ion exchange plus grinding as they have been considered during the application of the tape technique for slag analysis. Grinding with buffer might be a sufficient isoformation in some special cases, where the mineral composition is defined. The time of grinding must, however, be rather long, at least 5 to 10 min, even when using such an efficient mill as the Swing Mill from Messrs. Siebtechnik, Mühlheim, Germany. This type of isoformation is not recommended due to its limitations and due to the fact that the gain in time compared with the fusion technique is almost negligible. The principle of ion exchange plus grinding and some of its applications have been described.5 The following elements of interest in slag analysis can be determined in this way: Na, K, Cu, Mg, Ca, Ba, Zn, Pb, Al, Cr, Mn, Fe, Co, Ni. The very important element Si, however, cannot be analyzed with this method. Although the ion exchange isoformation for slag analysis cannot be looked upon as a routine method, it can be used for

Jan 1, 1962

By J. A. Botin, K. H. Singh

INTRODUCTION The Alfredo underground mine is one of the three mining operations of Rio Tinto Minera, S.A., all near the community of Rio Tinto in Huelva province of southwest Spain. The other two operations are Corta Atalaya open pit (Pyrite ore) and Cerro Colorado open pit (Copper ore 1. Underground mining of Alfredo Mine for pyrites started in the nineteenth century and continued without interruption until 1979 when it was discontinued due to economical reasons. In 1972, a new project was started for the mining of copper bearing ores on the footwall of the pyrite deposit. This copper ore is locally named “Cloritas” and it forms a nearly vertical and tabular shaped orebody which forms an envelope at the footwall of the San Dionisio pyrite orebody. Mining of the Cloritas commenced in 1975 using cut and fill stoping. In 1977, the original project was completely revised which led to the introduction of a bulk mining system to achieve a planned production of 3,000 tonnes of ore per day. This paper covers the economic and planning aspects of the mine and discusses the evolution of the mining method for the Cloritas orebody. A GENERAL DESCRIPTION OF THE CLORITAS OREBODY The “Masa San Dionisio” (figure 1 ) is a massive sulphide orebody located in the town of Rio Tinto, about 90 kilometres west of Sevilla, Spain. Extensive vein-type sulphide mineralization exists in the volcanic host rocks of the Masa San Dionisio. Within this area of stockwork veins, there is a higher concentration of copper in the form of chalcopyrite in a zone adjacent to and paralleling the contact with the massive sulphides. This copper envelope is locally referred to as the "Cloritas Orebody” and the ore within it is called "Cloritas”. The main zone of the Cloritas orebody, (figure 11, is tabular and nearly vertical having a length of 375-400 m east-west, a thickness of 20-50 m north-south, and a vertical extension of 500 m from the surface. In addition to this area, there is a second less important low grade area called zone 2A located to the north of the main zone below 26 Level which, in some sections, is not fully separated from the main zone. MINING METHODS Mining in Rio Tinto area can be traced back to the Phoenecians and the Romans. Modern day mining started with the demand for sulphuric acid during the last half of the nineteenth century. By 1971, more than 33 million tonnes of pyrite had been mined out of Alfredo Mine, (San Dionisio Orebody), using labor intensive drift and fill methods and also by open pit method. During the last decade, underground mining of the pyrite had become uneconomic due to lower prices and a slackening demand for pyrite, and the underground mining operations for pyrite were finally stopped in 1979. In 1971, a major change in the long range mining plans for Masa San Dionisio was established. Between 1971 and 1975, underground mining of pyrites was progressively reduced while open pit extraction was increased in

Jan 1, 1981

By James Chapman

THE observations here presented are those, not of an expert accountant, but of one who, while he has seen considerable service in the accounting departments of large companies, has spent more time in engineering and operating. This paper is intended to cover, in a measure, mine accounting for small mines, as distinguished from the elaborate systems, requiring many persons ;n the accounting department. I shall attempt to outline a system embracing the essentials of accounting, and simple enough in form to permit one or two persons to carry it on from month to month, in sufficient detail to be able to tell quickly the grade of ore, the prices received for metals, costs per ton for mining and milling, costs per foot for development, upward or downward tendencies in costs, ore settled or in transit, cash on hand, stocks of supplies on hand, efficiency of' labor, etc. As in all accounting, there are two main divisions: that of revenue received for what is sold, and that of disbursements made for what is bought, so in mine accounting we have to consider chiefly the income derived from sales of ore or concentrates, and the expenses incurred in producing the said ore or concentrates in a marketable condition.

Jan 3, 1916

By Albert J. Phillips

The effect of impurities on the flowsheet in the smelting and refining circuits for copper, lead and zinc is reviewed and the interflow of by-poduct metals from copper, lead and zinc plants is pointed out. The principal points of separation of all impurities in the circuits are indicated and the additional steps added to these circuits in order to effect impurity separation me shown. In this day and age, when difficult metallurgy is mentioned, one thinks of the extraction of more refractory or possibly the alkaline earth or rare-earth metals. It is true that the extraction of metals having a high affinity for oxygen and deleterious solubility for that element in the liquid metal, affords some of the most difficult extractive metallurgy problems. When this is coupled with an affinity for hydrogen, nitrogen, and carbon a devious approach is required that sometimes rivals the complexity of the metallurgy with which this paper deals. However, in all such cases the aim is for a simple

Jan 1, 1962

By Philip S. Mathews

THE tremendous stimulus given to the mining industry by the gold and silver policy of the present administration has found the capital market for mines ill prepared to afford practical means of financing. Particularly has this been true of the host of abandoned high-cost producers and prospects which increased gold and silver prices have made potentially profitable. In a comparatively short time, experience has demonstrated abundantly that valuable properties have frequently failed to secure capital, while questionable properties have drawn to themselves and their promoters more of the public moneys than their prospects justify. Singularly enough the fault is usually attributable to faulty financing. Discussion and study of this problem are vital to the industry.

Jan 1, 1936

By J. H. Bowden

The shaft-plant here described was put in operation in September, 1895, and the No. 6 slope-motor was started in May, 1896. The plant comprises : One Norwalk three-stage compressor l21/2, 91/2 and 5 in. diameters of air- and 20 in. diameter of steam-cylinder, all 24 in. stroke; capacity at 100 revolutions, 296 cu. ft. of free air per minute, compressed to 600 Ibs. per sq. in. A main pipe, 5 in. diameter, 4380 ft. long, with five charging-stations in No. 6 Shaft, and a branch of 3 in. pipe, 3100 ft. long, with three charging stations, in No. 6 Slope. These pipes on each line charge a Porter compressed-air motor, with 7 by 14 in. cylinders, and four 24 in. drivers, weighing about eight tons, with a tank-capacity of 130 cu. ft. of air at 550 lbs. pressure in the main tank, reduced to 160 lbs. in the 8-in. auxiliary tank of 4.2 cu. ft. capacity, supplying the cylinders. The No. 6 shaft run averages 4000 ft. each way on grades of $ to 23/4 per cent., and averaging close to one per cent. in favor of the loaded cars. The No. 6 slope run averages 2100 ft. with nearly the same grades. The mine-cars weigh 2800 Ibs. empty, and about 9800 lbs. loaded, and are hauled in trips of 12 to 20, averaging about 15 cars. The shaft-motor now hauls about 355, and the slope-motor 320 cars per day of 10 hours, replacing in the shaft 17 mules, and

Jan 1, 1901