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FOLLOWING the presentation of the papers by Messrs. Mahan and Butler, the discussion printed below ensued. A. C. LANE* With particular reference to the New England con-sumer, I entirely agree with Mr. Mahan that intelli-gent marketing methods will do a good deal, but there is more than one way of improving them. For instance, coal can be shipped best to New England about this time of year-after the storms of the winter and before the movement of crops in the summer. For that reason there ought to be seasonal freight rates. This will be agreed to by most coal men if you will ask them, especially those who are connected with large concerns like the Metropolitan Coal Co., and yet they do not get seasonal freight rates partly because the railroads are afraid if they once reduce them they will never have a chance to get them back again. But it would be an improvement to have seasonal freight rates. Another thing: When we are buying in New England we want really a certain amount of heat value in our coal. There is no great advantage in our buying ash, nor is there any particular advantage in the railroad shipping ash and clogging the circulatory system of the body politic any more than clogging the circulatory system of the physical body. It would be desirable if the wholesaler, and to some extent the retailer, could guarantee the amount of ash or sell their coal on heating value. If you are interested in that you will find some interesting charts, in "Anthracite Coal Costs Analyzed," a pamphlet issued by the Anthracite Coal Consumers Association, Inc., New York City, as to rates from various and sundry points for bituminous and anthra-cite coal from the field to New York, Buffalo and Chi-cago. Here in New England they are both up against the competition of oil. About 3 or 3 1/2 bbl. oil will do the work of a ton of coal. One of my millionaire friends who is well posted on the situation is putting oil in his Commonwealth Avenue house because it is the most economical. Moreover, we can get Welsh coal from across the water (and help equalize this matter of exchange with Europe) in close competition with Penn-sylvania coal.

Jan 4, 1928

By Tracey Bodnarchuk, Philipp Mirzoev

Sulfate balance control is a common problem for zinc plants. Roast-leach-electrowin plants are mostly concerned with the over-generation of sulfates while for the HudBay direct leach plant both extremes are possible including potential necessity to buy sulfuric acid to replenish a sulfate-depleted circuit, which makes the problem doubly important. Quantitative methods were applied at the HudBay plant to analyze sulfate generation/depletion based on a local sulfur balance and sulfate extraction calculation in the leach circuit, using a Pb-tie method. Main factors were established influencing sulfate generation/depletion, including the critical role of Pb and pyrite. Regression analysis proved to be effective and allowed the quantitative prediction of Pb concentrations necessary to reach the equilibrium for the sulfate balance. This in turn provided a firm basis for a sulfate-control strategy realized through concentrate blend correction, which allowed the plant to fine-tune sulfate generation/depletion effectively reducing economic consequences of excessive/deficient sulfate generation.

Jan 1, 2015

By Paul M. Tyler

MARKETWISE the year 1935 was rather a good one for most of the rare and minor metals; as a class they climbed out of the depression much faster than the common metals. The diamond market, too, was better than it had been for years, attributable only in part to investment buying, as there was a genuine pick-up in consumer demand. Wars and rumors of war tended to speed up purchases of certain metals, but consumption for peaceful purposes was the principal factor. Significant was the important role played by new industrial uses. New discoveries during the year were disappointingly few, considering the broad extent of this research frontier. Scientific developments were far from being at a stand-still, of course, but the dominant note was the cashing in on research consummated in former years. With even a moderate upturn in general business a surprising number of laboratory ideas donned overalls and found jobs in industry.

Jan 1, 1936

By ABBOT A. HANKS

WHEN gold was discovered in California, and San Francisco grew almost over night from a handful of people to many thousands, one of the first difficulties experienced was the lack of money. Gold dust in considerable quantities was rushed into the city from the various mining camps but there was no money. Purchases were paid for by weighing out dust in hand scales. We can appreciate' the difficulty of paying for a drink or buying a postage stamp under these conditions. All this gold was in the form of dust from placer workings and the first metallurgists were the assayers' who melted and refined this gold, casting it into bars which were weighed, assayed, stamped with fineness; value, and the name of the assayer. Many .of these plants were of considerable size, handling shipments that were accumulated by banks and express companies throughout the "Diggings" and sent to San Francisco to be shipped by water to the eastern states. Several

Jan 1, 1931

By Richard E. Barrett

The relationship between coal characteristics and power plant performance has become a matter of increasing interest to utilities. This relationship can affect the value of coals, decisions as to coal washing, setting penalties for delivery of coal that fails to meet specifications, and justifying buying better coals (at higher costs) before public utility commissions. The study described in this paper was directed to identifying how coal characteristics impact on boilers and related coal and gas handling systems. TVA data for the period 1962-1980 was the basis for the study. Models were developed for boiler efficiency, boiler availability, and maintenance costs as a function of such coal characteristics as ash, sulfur, and moisture content and boiler age. Boiler load and maintenance efforts were considered as variables in some of the models, but were found not to be statistically significant. Although the results of this study are strictly applicable to only the TVA system, they can serve as guides or first approximations for other utilities.

Jan 1, 1983

This brief overview of the history of Brown Coal mining in Victoria is a luncheon presentation -I do not intend to make it indigestible with extensive listings of resources or production. There is a vast pantry of collated historical records and of vari- ous predictive studies available for the enquired with a hearty digestion. A gourmet collation is provided in The Aus IMM Monograph No 11 published in 1984 entitled "Victoria's Brown Coal-A HUGE FORTUNE IN CHANCERY", currently still on offer by the Institute and available at a bargain price in the foyer at this conference. Monograph No 11 also provides a feast of excellent references on the theme of Victorian Brown Coal assembled by the several contributors. In contrast, my presentation paper is a fast-food service, extracts from the printed paper only-you have no choice-you "get what you get" and in small quantity. I hope it will tantalise your appetite -like Oliver Twist you will ask for more. -Buy the Monograph!

Jan 1, 1989

By John Matthews

During 1982 and 1983, it became increasingly clear that North River No. 1 Mine would have to buy a set of replacement longwall shields. Despite extensive efforts to make improvements, the shields that were in place at that time were incapable of holding the roof. North River Energy had limited experience in specifying and acquiring longwall roof supports, but a great deal of experience with our conditions and needs. We there- fore compiled a shield evaluation method that uniquely responded to our situation. The resulting system emphasized teamwork among operating, maintenance and engineering personnel. The charge from management was threefold: select shields to support maximum expected loads, optimize face operations, and pay attention to detail. Final selection was made objectively, based on all available information. We chose a 5516 KN (620 tons) support with a minimum yield load density of 760 KN/m2 (7.9 tons/ft2). This paper reviews our process of specification, design, prototype testing, and fabrication, and offers some relevant suggestions.

Jan 1, 1986

By O. G. Lellep

IN every country economic circumstances prescribe the method used to produce a commodity at lowest cost. In Pennsylvania a man's wages for working 4 hr buys a ton of coal wholesale; in Germany a laborer must work 40 hr, or ten times as long. In western Europe, therefore, conservation of fuel is of primary importance, and recent practices of burning lime and cement differ from those employed in the United States. This paper presents data collected during a trip through western Europe in 1953. Considered uneconomical, shaft kilns for burning cement disappeared in the United States two generations ago. But because required capital investment is low and operation greatly improved, shaft kilns are still used to some extent in Europe, where fuel costs are high, and are even included in designs for plants under construction. During the last 50 years shaft kilns have been maintained at the same physical size, while their output has been increased at least four times.

Jan 7, 1954

With the dawning of a new century came the beginning of a new era in the coal industry. Instead of the traditional practice of only buying and selling produced coal in the United States, a coal futures market was established. The New York Mercantile Exchange began trading coal futures in July 2001. But, even in this new era, many of the old is-sues that have beset the coal industry still remain, as was evident in2001. Coal production increased to are cord level during 2001, according to preliminary data from the US Energy Information Administration(EIA). Production in 2001 rose by4% to 1.01 Gt (1.12 billion st), compared with 2000 (Table 1). This barely surpassed the previous record level of 1 Gt (1.11 billion st)set in 1998. Coal consumption remained unchanged. The additional production was used to replenish the depleted stockpiles that had resulted after two years of declining coal production and increasing coal consumption.

Jan 1, 2002

By V. B. Dale

San Manuel has been a modern prodigy from its inception to its present status as a block-caving operation producing 33,000 tons per day. The deposit was discovered, prospected, and developed with modern techniques, and nearly all planning was done from results of an extensive drilling program through an average overburden of 670 feet. The Federal Government had a prominent part in the discovery and primary development of San Manuel. The first 17 holes were drilled by the Bureau of Mines, and discovery of the large, low-grade, disseminated copper deposit is credited to the Bureau. A loan fund of 94 million was granted through the Reconstruction Finance Corporation to the San Manuel Copper Corp. for development of the deposit and erection of concentrating and smelting facilities. Then, while the mine was still being developed, the Defense Materials Procurement Agency contracted to buy a large amount of copper at a pegged price.

Jan 1, 1962

By Rush Greenslade

THE oil and gas lease is the basic contract of the oil and gas industry; it is the foundation stone upon which the producing industry, particularly, is based. As the industry is precarious and highly speculative, the foundation contract should be of the utmost integrity and certainty. But right there an anomaly exists; the oil and gas lease is the most obscure, most uncertain, doubtful contract in the realm of law today. That is a condition that must be considered when taking oil and gas leases, and when buying, selling, and holding them. It may fairly be asked why should this industry rest upon so insecure a foundation. Why should not the oil industry rest upon the contract that is the basis of all industry, the warranty deed? There are many contributing reasons, but the principal one is business expediency. The Anglo-Saxon idea of ownership of land is that every land owner owns from the center of the earth to the sky all that is above and all that is below-consequently the oil and gas are owned by the person who owns the surface. That idea is not exactly true with reference to oil and gas, for many states have adopted the doctrine that oil and gas are like wild animals; they are fugacious and migratory and belong to the man that traps them. But, except for that doctrine, we believe that oil and gas are owned by the owner of the surface, wherein we differ from the Latin-American countries where the mineral rights are owned by the government. The United States was settled largely by homesteading. The owners of land were, in the main, farmers, who did not have the means or the faith to drill for oil or gas. The operators or speculators did not want to buy the land on the mere possibility of finding oil; hence a compromise resulted by which the land owner gave the speculator or the operator what he called an oil and gas lease, or a right to go upon his land and drill for oil and gas. What is supposed to be the first oil lease placed on record reads as follows: Agreed this 4th day of July, A.D. 1853, with J. D. Angier of Cherrytree township in the county of Venango Pennsylvania that he shall repair up and keep in order the old oil springs on land in said Cherrytree township, or dig and make new springs, and the expense to be deducted out of the proceeds of the oil, and the balance, if any, to be

Jan 8, 1924

By Rush Greenslade

The oil and gas lease is the basic contract of the oil and gas industry; it is the foundation stone upon which the producing industry, particularly, is based. As the industry is precarious and highly speculative, the foundation contract should be of the utmost integrity and certainty. But right there an anomaly exists; the oil and gas lease is the most obscure, most uncertain, doubtful contract in the realm of law today. That is a condition that must be considered when taking oil and gas leases, and when buying, selling, and holding them. It may fairly be asked why should this industry rest upon so insecure a foundation. Why should not the oil industry rest upon the contract that is the basis of all industry, the warranty deed? There are many contributing reasons, but the principal one is business expediency. The Anglo-Saxon idea of ownership of land is that every land owner owns from the center of the earth to the sky—all that is above and all that is below—consequently the oil and gas are owned by the person who owns the surface. That idea is not exactly true with reference to oil and gas, for many states have adopted the doctrine that oil and gas are like wild animals; they are fugacious and migratory and belong to the man that traps them. But, except for that doctrine, we believe that oil and gas are owned by the owner of the surface, wherein we differ from the Latin-American countries where the mineral rights are owned by the government. The United States was settled largely by homesteading. The owners of land were, in the main, farmers, who did not have the means or the faith to drill for oil or gas. The operators or speculators did not want to buy the land on the mere possibility of finding oil; hence a compromise resulted by which the land owner gave the speculator or the operator what he called an oil and gas lease, or a right to go upon his land and drill for oil and gas. What is supposed to be the first oil lease placed on record reads as follows: Agreed this 4th day of July, a.d. 1853, with J. D. Angier of Cherrytree township in the county of Venango Pennsylvania that he shall repair up and keep in order the old oil springs on land in said Cherrytree township, or dig and make new springs, and the expense to be deducted out of the proceeds of the oil, and the balance, if any, to be

Jan 1, 1924

The United States is being invaded... by foreign capital: marks, francs, pounds, yen, lire, riyals, you name it: On almost any given day the Wall Street Journal will contain a new report on a department store, newspaper, bank, hotel, agricultural land, supermarket chain, et a1 being bought into by overseas investment. Xenophobic reaction to this revised national condition has begun to set in. Several farming states have and are introducing legislation to monitor foreign land buying. In Congress a mandatory reporting requirement for foreign purchasing is currently under study. In a relatively short period the country has reverted from world leader- ship in overseas acquisition and involvement to become itself one of the prime investment opportunities in existence. Interestingly enough, one of the industries where this changed status has become most apparent and pronounced is within that small/regional/segmented/low value-to-weight bulk commodity enterprise ranked as the backbone of the nation's construction activity. U.S. cement making is not only undergoing internationalization in its ownership, but also in its product, equipment, and engineering expertise.

Jan 1, 1979

By Robert F. Calman

OUTLINE FIVE EXAMPLES OF GOLD-LINKED FINANCINGS 1. Financing the Lupin Mine • Sale of Cdn $40.0 million of 12% preferred shares and Cdn $40.0 million of Gold Purchase Warrants @ $595 per ounce. 2. Financing the Copper Range acquisition • Borrowing 100,000 ounces from a Canadian chartered bank @ US$307 for five years. 3. Financing the Round Mountain expansion • Borrowing up to US $80.0 million in dollars, convertible into gold, repayable over five years from a group of North American banks. 4. Financing the Tenneco Precious Metals Division acquisition •Sale of SFr 110.0 million of ten year 3-718% bonds with warrants to buy 132,000 ounces of gold at US $560. 5. On Forward Sales, Puts and Calls • Gold, Silver, Canadian Dollars, Swiss Francs THE FINANCIAL RULES AT ECHO BAY 1. Never bet the company 2. Equity is the primary form of capital for a gold mining company 3. On debt 4. The Yardsticks for Corporate Decisions 5. Financial Community Relationships 6. Dividend Policy No Text Available Tables Follow

Jan 1, 1990

By Howard L. Hartman

Pardon my audacity, but I feel that this is the solution, not just a solution. Further, I will be so bold as to maintain that this is the last-ditch, eleventh-hour chance for the mineral industry to solve its critical technical manpower shortage. I am not being facetious. I am convinced that there is only one solution--just as there is but one real cause of the problem. My conclusion 'is reinforced by countless talks of endless hours with people both in and out of the industry, with employers and employees, and with educators and students. While I claim no originality for the idea and have no pride of authorship, I am concerned that the industry hear and heed in time. It is quite unlikely that the mineral industry and the mineral engineering profession will willingly subscribe to my thesis or gladly buy my proposal. I am convinced, however, that it is the only course of action open to us, and the only course of action which will succeed.

Jan 1, 1967

By M. S. Badollet

"IntroductionAsbestos as received by the manufacturer of asbestos products is •in the •form of either crudes or milled fibres processed to different degrees of texture. Frequently, the manufacturer finds that l:ihe fibres as he buys them are not adaptable to his plant processes, and, therefore, it is necessary for him either to contact the mine supplying the material and request a specific texture for the :fibre or to reprocess the fibre in his own plant.When the mine or mill manager is requested to change his milling equipment to produce a special grade of fibre with a specific texture, he would like to comply. However, if he began to make special fibre grades for each customer, he would be in the position of constantly rearranging his milling technique, adding more equipment, or building a new mill. In the end, his mill would he producing hundreds of different fibre grades of varying degrees of texture, which is a difficult accomplishment if he desires to maintain any quantity of production."

Jan 1, 1950

By J. L. Kearns

The importance of optimizing equipment replacement decisions becomes more critical each year due to the rising costs of buying new equipment versus maintaining old equipment. Replacing equipment when it is physically worn out, or replacing it too soon or too late relative to its Economic Life (when it is economically worn out), is very costly. After extensive literature review and research, Kennecott has developed its Equipment Replacement Guide (ERG) system which identifies, evaluates, and justifies the replacement of uneconomical equipment. The system considers such critical factors as inflation, decreasing work capability, increasing maintenance/repair and operating costs, taxes, time value of money, return on investment, salvage value, and investment tax credit. These factors are used in a system of equations which balance the costs of new equipment against the total operating costs of old equipment. The solution of the equations determines the Economic Life of equipment. Replacement of equipment at the determined Economic Life will earn the specified, required return on investment that is used in the calculation of the Economic Life.

Jan 1, 1979

To assist the taxpayer of the oil and gas industry in correctly and expeditiously preparing his Federal tax returns, the Bureau of Internal Revenue has prepared a "Manual for the Oil and Gas Industry Under the Revenue Act of 1918." Although the endeavor has been made to anticipate all questions that may be asked, it is recognized that such a manual is only general and cannot cover all cases that may exist. The Manual is based largely upon information gathered during the fall of the year 1918 by a corps of geologists, technologists, and engineers. The investigation was undertaken primarily to furnish a basis for arriving at valuations, and depletion and depreciation deductions in connection with oil and gas properties. All fields in the United States were canvassed. Records of production of thousands of properties were collected and tabulated. These were carefully classified and studied by the most competent and experienced men in the country and the average future production curves and tables of valuation data were produced as a result of this study. Be American! Work and Save. Buy W. S. S.

Jan 7, 1919

By H. E. M. N. Moursy, Hassan El-Shall, M. N. Ahmad, Ponisseril Somasundaran, C. R. Holland, D. Chandler, G. Walker, Regis Stana, Patrick Zhang

The reaction kinetics of the acidulation of Moroccan phosphate rock (32% P?05) using 45% nitric acid were investigated using the Shrinking Core Model (SCM) , a newly developed Diffusion Model (DM) and a newly developed Combined Reaction and Diffusion Model (CRDM). This was achieved buy conducting a number of experiments in a controlled batch reactor system at different temperatures. The conversion and the reaction rate were calculated at different time intervals. The SCM based on reaction time and the CRDM characterize the acidulation process of phosphate rock. Diffusion of nitric acid and the products of acidulation at the early stages of reaction through the phosphate rock were found to be the rate-controlling step, resulting in a dif- fusion coefficient, which controls the mass transfer process. The reaction kinetics were found to fit first-order kinetics especially during early stages of reaction time. The deviation of the kinetics from first-order at later stages was due to the fact that the overall reaction was mass transfer controlled with respect to nitric acid and products diffusion.

Jan 1, 2002

By William Hutton Blauvelt

An official of one of the prominent iron companies of the South recently made the following statement during a discussion of the present conditions of the Southern iron business: " The trouble with us in the South has been that we have been satisfied to buy iron and coal lands, build blast-furnaces, and make pig-iron. We stopped at pig-iron, and as a result we are all poor. The South needs diversified industries, and needs to work up its raw products into articles the Southern market can use. If we had realized this sooner, some of us might now be rich." The South is awakening to this view, and in the Birmingham district alone one basic steel-mill is already in operation, and in a year's time another and much larger one will be turning out rails and shapes, with rod- and wire-mills in prospect. It is to chronicle another metallurgical step forward in the same district that I have prepared the following description of the new by-product retort coke-oven plant recently put in opera-

Jan 1, 1899