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By R. Hogg, T. F. Dumm

With increasing interest in the physical cleaning of fine coal, there is a need for extension of the sink-float analysis procedure to finer sizes. Problems arise, however, in ensuring complete dispersion of the particles in the heavy liquids. A procedure has been developed in which surfactants are wed as dispersing agents, and solids concentration is minimized (using a simple formula to estimate the minimum weight needed for statistical reliability). Using centrifuges to increase separation rates and subsieve particle size analysis of the specific gravity fractions, a complete size-specific gravity distribution can be obtained. Analyses have been performed on coal samples as fine as - 10 µm.

Jan 1, 1987

By E. G. Leonardon, C. Schlumberger, M. Schlumberger

In the search for practical geological problems amenable to solution by the potential methods, the geophysicist is led to study mathematically various theoretical cases. In these idealistic discussions, the media under consideration are generally supposed to be homogeneous and iso-tropic. The geophysicist, of course, realizes perfectly that these conditions do not occur in their entirety in reality. However, the assumptions made are justified, because very often they are necessary in order to render possible an exhaustive study of a given problem, which otherwise would be too complicated, and would not lend itself to a complete mathematical analysis. Of the above two assumptions, that concerning the homogeneity of a given geological formation is satisfactorily realized except in so far as isotropy is concerned, since this property is not often encountered in practice. As a consequence, it is very desirable for the geophysicist to have quite an extensive knowledge of the properties of anisotropic formations, and of the laws that govern the propagation of electric current therein. With such principles in mind, he will be able to decide whether the conclusions arrived at in simple, isotropic conditions are still correct in more complex cases, or in what way they must be modified or adapted in order to constitute a sound basis for the interpretation of the results obtained in anisotropic media. On the other hand, the fact that in anisotropic formations the mobility of the ions is greater along the strike than perpendicular thereto can be utilized for determining the direction of the dip by induction measurements. We therefore propose to study in three successive chapters the following points: 1. Propagation of the electric current in anisotropic media. 2. Some consequences of the anisotropy of geological formations with reference to the surface electrical measurements, and their interpretation. 3. Determination of the direction of the dip of anisotropic formations by surface induction measurements.

Jan 1, 1934

By P. B. Altringer

The Bureau of Mines conducted laboratory tests to devise a procedure for recovering a marketable grade of tungsten from the brine of Searles Lake, Calif. The brine contains only 56 parts per million of tungsten (70 parts per million of W03). Using ion exchange resins synthesized by Bureau chemists, 98 percent of the tungsten was extracted from the brine and 92 percent of the tungsten was recovered as a marketable iron-tungsten concentrate containing 44 percent tungstic oxide. Although major technical problems have largely been resolved, research is progressing to escalate testing in a process-development unit to provide more reliable data for an economic appraisal.

Jan 1, 1978

By R. Gallinger, B. Kelley

"In 1997, a group of Canadian mining companies met to review the Mine Environment Neutral Drainage (MEND) program and to consider future activities. They concluded that (1) that Canadian industry and Natural Resources Canada (NRCan) should fund a small secretariat in Ottawa to support technology transfer in Canada and, (2) that it was important for industry to continue the momentum of MEND on an international scale.The need for the International Network for Acid Prevention (INAP) was strongly endorsed by consultants, company, university, and government experts from Australia, Canada, and the United States who convened in Vancouver in February 1998. The initial focus was the development of a solid knowledge base covering the collective experience of INAP’s members to promote the dissemination of successful practices, the identification of knowledge gaps, and the formulation of effective research proposals. The sharing of information on past successes and failures alone was viewed assufficient justification for the formation of INAP.INAP was officially launched in October 1998, and is now an effective, industry-based initiative to globally coordinate research and development in the management of sulphide mine waste. Significant improvements in the management of sulphidic mine materials through knowledge sharing, research, and development of technology by INAP will reduce liability associated with acid drainage.This paper will explore the international efforts and activities of INAP."

Jan 1, 2005

By Noan Tonini SImonassi

As fibras naturais extraídas das folhas do curauá estão entre as mais fortes fibras naturais utilizadas como reforço de compósitos poliméricos para aplicações em engenharia. Tais compósitos, até agora, são limitados em relação às propriedades mecânicas e energia de impacto. Assim o objetivo do presente trabalho é de investigar a possibilidade da melhora da resistência à tração bem como a energia de impacto dos compósitos de matriz poliéster reforçados com fibras de curauá com variados parâmetros de processamento. Os parâmetros observados foram a quantidade de fibras com diâmetro fino e pressão aplicada durante o processamento. Utilizando 60% de fração volumétrica de fibras finas (diâmetro médio variando de 50 à 80 µm) contínuas e alinhadas foi possível se obter resistência à tração superior 200 MPa. Ainda, aplicando-se 30 MPa de pressão durante a cura foram obtidos mais de 270 MPa de resistência a tração. Já para resistência a impacto Izod, uma resistência de 340 J/m foi obtido pelos corpos de prova com entalhe feito em sentido perpendicular ao alinhamento das fibras.

Oct 30, 2017

By John M. Dale

Now that the price of sulfur has reached unexpected high levels, it is little wonder that sulfur from surface ores is again receiving attention. In most instances, it is advantageous for an ore to be at or near the surface. However, it is a distinct disadvantage for sulfur ore to be close to the surface because it precludes the use of the Frasch process. The Frasch process depends on the presence of at least 180 m of uniform overburden to allow pressure injection of superheated water into the sulfur-bearing formation to melt the sulfur. In the Frasch process, sulfur separates cleanly from the gangue underground and comes to the surface in a very pure form. Surface sulfur deposits, particularly those in the Western Hemisphere, exist largely due to volcanic activity, and sulfur separation from the gangue is a formidable technical problem. None of the surface deposits are large compared to some of the Frasch deposits, but at the present sulfur price, they are certainly of economic importance. From the turn of the century until 1975, the price of sulfur was for the most part $18-$28/t. However, with the price of sulfur now over $154/t, there are a variety of technical alternatives to consider for sulfur surface ore separation that may not have been economically attractive a few years ago.

Jan 9, 1981

By D. L. Creighton, S. A. Hoenig

The field-emission microscope has been adapted for the study of microcrack growth during the early stages of fracture in metal wires. Cracks as small as 6 1 in length can be detected and their growth can be followed to specimen failure. The system is quite useful in searching for microcracks since only sharp-edged surface defects will emit electrons under the experimental conditions. THE conditions leading to brittle fracture were discussed a number of years ago by Griffith1 and the term Griffith Cracks is often used for the small surface cracks which are responsible for brittle fracture. Griffith's theory has been modified by stroh2 and more recent results on metals are discussed by Allen,3 pp. 123-40. At present the phenomenon is not completely understood but there is general agreement that at least in certain materials the sequence leading to brittle fracture involves several stages. The initial microcracks are present because of cooling or working stresses, Hahn et al.,3 p. 95. When a stress is applied to the specimen the cracks grow slowly until the release of stored elastic energy is large enough to accelerate the crack and provide the necessary surface energy for crack growth. At this point the growth rate appears to increase rapidly to some new equilibrium velocity, and failure occurs. Since the microcracks are usually about the size of a single metallic grain (Ref. 3, p. 99) it is not easy to find them and it is very difficult to follow their growth under stress. This paper will report on the use of a cylindrical field-emission microscope for observation of the formation and growth of microcracks. I) THE FIELD-EMISSION MICROSCOPE The field-emission microscope (FEM) has a high magnification and resolution and is almost uniquely suited for observations of microcracks. Since the FEM is relatively new as a metallurgical instrument, a short description will be given here. Normally metals at room temperature do not emit electrons; however in the presence of a strong electric-field gradient, electrons can tunnel out through the reduced potential barrier. Since this tunneling is a function of the local field gradient and the local work function, the emitted electrons can be used to produce a highly magnified image of the surface by allowing them to strike a phosphor screen. Because the electron emission is dependent upon the local field gradient, smooth surfaces emit few electrons except at very high fields. On the other hand cracks, extrusions, or other surface defects, having sharp edges, emit strongly since the field gradient is very high in the vicinity of these defects. This indicates that the FEM should be most useful for detection of microcracks on otherwise smooth surfaces. A field-emission microscope was first used by Muller4 in 1936 for observation of metal surfaces, and recent reviews have been given by Muller5 and Gomer.6 The instrument has been used for metallurgical studies in the area of surface diffusion,= recrystallization,7 and grain growth 8 (Ref. 8 is directed specifically at metallurgists). In the work of Muller4,5 and Gomer 6 the specimen was in the form of a sharp metal point at the center of a phosphor-coated glais sphere. The impact of the emitted electrons on the phosphor produced a highly magnified image of the specimens. Such a system is not practical for applying a controlled stress to the specimen and a cylindrical geometry has been used in this investigation. This allowed the application of a controlled tensile stress to the wire specimen. Normally a cylindrical FEM geometry produces magnification only in the radial direction. This is the case because a smooth wire at the center of a cylinder produces a purely radial electrical field. However, if there is a break in the smooth surface of the inner cylinder, the field near the break becomes three-dimensional and the area of the break is highly magnified. The reason for this is clear if it is recalled that the field gradient depends on the relative radii of the inner and outer cylinders; if a crack forms, its edge radii are of atomic dimensions and a very high field gradient is formed near these crack edges. Since the electrons receive most of their acceleration near the crack edge and are always traveling perpendicular to the field lines, they tend to spread out and produce the magnified image observed in the cylindrical field-emission microscope. 11) BRITTLE-FRACTURE STUDIES A) Experimental Apparatus. The geometrical arrangement chosen was that used earlier by Gifford

Jan 1, 1965

By M. Y. Fisekci

Subsidence measurement methods, applied over the thick and steep seam mining in the Rocky Mountains Region of Western Canada are described. The studies to date indicate that two new subsidence monitoring techniques appear to be the most suited methods for our conditions. The computerized telemetry and aerial photogrammetry systems are being tested for the reliability of the systems during the winter months within the network of laser surveying over the workings of the new hydraulic mine. The site particulars and the mining method of the concerned area have been described briefly. The observation over the old hydraulic mine indicate that panels adjacent to each other do not obey identical subsidence phenomenon.

Jan 1, 1982

In our sessions devoted to geophysical prospecting, the greater part of the time heretofore has been given to the presentation of theoretical subjects or highly technical details by specialists directly engaged in the development and perfection of the various methods. This was necessarily so, for we wanted such information available for the benefit of other workers and for our members who were anxious to gain a reliable understanding of the principles involved, to enable them to form an opinion of the adaptability of this new technique to their special problems. The methods have now been actively applied by many reliable organizations for several years and in this period there has been opportunity for operating mining men, engineers and geologists to appraise them. We therefore felt that it would be desirable at this meeting to give some time to interchange of opinion concerning results from actual cases. Consequently, the Committee on Geophysical Methods of Pros pecting sent out letters of inquiry to numerous mining people, asking for frank statements of opinion based on results from geophysical surveys at their properties. We have received many replies, among which 30 or more are of specific interest. On the whole, the point of view is remarkably uniform. Except for one or two who were, perhaps, a bit irritated, the operating men who have replied consider the methods to be capable of yielding valuable information when suitable conditions exist. Their attitude is definitely one of tolerance and of confidence in the integrity and sincerity of the outstanding workers. There is, however, a very general feeling that the chances of attaining positive and trustworthy results are small unless the work is directed by, or at least carried on with the close cooperation of, a geologist or mining man who is thoroughly familiar with the local geologic and mineralogic conditions and with the relations of the orebodies to rocks and structure. From certain comments, I am inclined to think that some operators are not greatly impressed with the cheapness of the work. Probably they are not attaching much weight to cost per acre, but are thinking primarily of total cost in terms of significant results obtained. It is

Jan 1, 1932

By James L. Vinson

Wilbur Smith Associates (WSA) has provided planning, engineering and construction oversight assistance to the Tennessee Department of Transportation (TDOT) for three construction projects intended to widen and improve segments of I-40 and associated interchanges in Knoxville, Tennessee. The projects are within the karst terrain of the Valley and Ridge Province. Subsurface conditions are characterized by an irregular rock surface coupled with differential weathering. Because of the projects? impact to local and interstate motorists, consideration was given to innovative planning, materials and construction practices that could accelerate construction. Two innovative deep foundation measures included rock-socketed pipe piles, which act as both foundations and substructure elements for a bridge?s interior bents, and the first widespread use of rock-socketed drilled shafts as bridge foundations on a TDOT project. The pipe piles were used at a site with significant cavities within the limestone bedrock. This resulted in design verification and constructability difficulties that required delays, but measures were ultimately employed to produce a sound foundation system. Over 110 drilled shafts have been constructed at sites with generally low solution activity. Relative to H-pile footings, which were included as an alternate foundation, they have apparently allowed accelerated construction at a competitive cost.

Jan 1, 2006

By Hans Svensson

El presente texto señala la explotación mecanizada en labores angostas a través de las aplicaciones de la empresa Linden Alimak AB. En 1957. Dicha empresa introdujo el método Alimak para excavación de las chimeneas con su plataforma trepadora, la cual comprende la perforación circular desde la plataforma Alimak para el ensanche de chimeneas, la explotación en vetas Angostas - Vein Mining y preparación de galerías ( jumbos con martillos neumáticos e hidráulicos. Posteriormente se compra una variedad de equipos para jumbos, winches, soldadoras neumáticas, etc., para la minería.

Sep 1, 1977

By C. R. Wohrman

A MELT of pure electrolytic iron with about 0.4 per cent. sulfur and 7 per cent. manganese was prepared in connection with a study of inclusions in iron. The alloy darkened rapidly when etched with a 10 per cent. alcoholic solution of nitric acid, and microscopic examination revealed the presence of a semimartensitic, semi-Widmanstättian structure (Figs. 1 and 2) closely resembling the structures found by Benedicks in his artificially prepared "meteoric iron." 1 The structures found by Benedicks were readily explained by the presence in his alloy of the two well known iron-nickel solid solutions, taenite and kamacite, and of their eutectoid (?) aggregate, plessite. By analogy, one would infer the existence of similar phases in the iron-manganese alloy just described, such as inference being strengthened by the similarity displayed in many ways by nickel and manganese in their effects on iron. IRON-MANGANESE ALLOTS ARE REGARDED AS HOMOGENEOUS Heterogeneity of iron-manganese alloys has not been recognized heretofore, judging from the data of standard metallographic books and those of original papers. In fact, iron and manganese are quite generally regarded as completely miscible in the solid state. Dr. Rosenhain,2 for example, writes: Alloys of group (a), of which those of gold-silver, iron-manganese, and copper-nickel are examples, when allowed to crystallize sufficiently slowly to attain their condition of final equilibrium, present a microstructure exactly similar to that of a pure metal-the homogeneous character of the molten solution is in that case so completely maintained that the microscope cannot detect the presence of any second constituent.

Jan 1, 1927

By Dale S. Preece, Lee M. Taylor

Accurate computer prediction of the muck pile produced by a conventional blast requires modeling of the physics that occurs during the rock motion phase of a blast. The ability to predict the motion and the subsequent muck pile can have a significant economic impact on the mining industry.

Jan 1, 1990

At the meeting of the Board of Directors of this Institute on Feb. 16, 1915, the 14 members of the Board present unanimously elected Professor Kemp an Honorary Member. The nomination of Professor Kemp was signed by 21 members of the Institute, none of whom are members of the Board of Directors, and recited his qualifications for Honorary Membership in the following terms: Professor Kemp graduated from Amherst College in the class of 1881, and from the School of Mines, Columbia University, in the class of 1884. After serving as instructor in geology in Cornell University for a few years he was called back to Columbia as adjunct professor in 1891, was made full professor the following year, and has since filled that office with dignity and honor. Among the first to recognize they importance of igneous rocks in the formation of orebodies, his studies have contributed greatly to that increase of knowledge of economic geology in which the Transactions of the Institute has had an influential part, and he is recognized both abroad and in this country as one of the most distinguished scholars in geology which America has produced. This recognition is evident in the honorary degrees of Sc. D. conferred on him by Amherst College in 1906, and LL. D. conferred by McGill University in 1913, as well as by election to membership in the National Academy of Sciences, and a corresponding member of the Academy of Sciences of. Christiania, and the Geological Society of. Stockholm. Professor Kemp was a Manager of the American Institute of Mining Engineers from 1896 to 1898, Vice-President from 1903 to 1904, a Director from 1905 to 1912, President and President of the Board of Directors in 1912, and Past President since that time. During these years he has labored loyally for the upbuilding of the Institute, serving on many committees, as well as in the offices enumerated. He has also served as President of the American Association for the Advancement of Science, the New York Academy of Sciences, and on the governing board of the Geological Society of America and the New York Botanical Gardens. His service is not confined, however, to these labors for the good of the profession and his contributions to exact knowledge of geology. In his almost 25 years as a professor in Columbia University there have come under his influence a great group of young men in whom he has inspired unflagging zeal in the search for truth, and to whom he has set an example of unselfish service. The value of such a service cannot be overestimated and in electing him to Honorary Membership the Institute would officially recognize the measure of appreciation which his professional colleagues have long accorded to him.

Jan 4, 1915

By Robert D. Harris

In 1958, the coal industry, through Bituminous Coal Research, Inc., and the electric utility industry, through the Edison Electric Institute and the Association of Edison Illuminating Companies, initiated a joint program to study coal pyrite and its removal as a means of lowering the sulfur content of steam coals. It was assumed that significant amounts of pyrite often remained in washed steam coal not because available systems for coal cleaning were inadequate, but because the pyrite was small and widely disseminated, During the first two years, samples of coal were examined petrographically to determine the size, association, and mode of occurrence of the pyrite in the raw coal and in the products of laboratory separation, Samples of coal were also pulverized in different equipment to determine how effectively pyrite was released by pulverization and if the mode of pulverization affected the liberation of pyrite. From these studies, the following tentative conclusions were made (1 ): 1. Much of the coal pyrite is within a 250-70 micron size range, and therefore is too small to be removed by conventional coal cleaning, but relatively large when compared to the size of coal as pulverized for combustion in large boilers. 2. The degree of pyrite liberation is mainly determined by the size of the product and not by the type of crusher. 3. For improved pyrite removal, the coal should be cleaned during or after pulverization at the power station.

Jan 1, 1965

By Jürg Schlumpf

Concrete is one of the decisive construction materials, also for the AlpTransit Gotthard Tunnel. The client has many requirements, and many are the solution possibilities that concrete systems can offer. Cement producers and concrete admixture manufacturers have been challenged to design and test jointly concrete systems for cast and sprayed concrete. The testing operation followed the scenario laid out by the Gotthard AlpTransit Project management?s instructions ?Testing system for concrete mixes.? Various supplier teams have applied for the concrete systems for sections Amsteg/Erstfeld, section Sedrun and/or sections Bodio/Faido and have also followed through with the tests. As was to be expected, the rate of failed mixes matched the level of the requirements. Thanks to this system, it was nevertheless possible to test complete concrete systems for all sections and to get them approved. The joint ventures tendering for the contracts were allowed to include only approved mix designs in their bids. Workability and durability are of paramount importance for cast and sprayed concrete mixes. Durability is influenced by the chosen mix design where binder concept and well-defined water content, i.e., impermeability, are determinant. Aggregates for AlpTransit are to be considered as given. The concrete mix design also determines workability. Because ambient conditions and also requirements with respect to workability are subjected to change, it is necessary that the mix designs include control measures. The choice and number of components for the concrete systems (cement, additives and admixtures) allow adaptation to changing conditions. For AlpTransit such adaptive measures must meet very strict requirements.

Jan 1, 2008

By Douglas R. Cook

The discovery of the gold deposits of the Jerritt Canyon district, with proven recoverable reserves in excess of 67.6 Mg (2.4 million oz) of gold, has contributed greatly to the tremendous resurgence in exploration for disseminated gold deposits in Nevada and throughout the west. The Jerritt Canyon project, including the Bell mine, is a 70130 joint venture between Freeport Gold Co. and FMC Gold Corp., both of which are wholly owned affiliates of the respective parent companies, Freeport-McMoRan Inc. and FMC Corp. The Jerritt Canyon district is located in the center of the Independence Mountains in north-central Elko County, Nevada, approximately 48 km (30 miles) northeast of the Carlin gold mine and 68 km (42 miles) north of Elko. Although the discovery of a commercial gold mine at Jerritt resulted from Freeport's exploration activities, the initial identification of a gold prospect in this area was a consequence of a program by FMC in the search for antimony. Their program was, in part, based on data in the Nevada Bureau of Mines Bulletin 61, "Antimony Deposits in Nevada." Work on the property began in 197 1 with geologic mapping followed by sampling and geochemical analyses. FMC geologists, including Robert Hawkins, Russell Hayden, and Hal Hurst recognized the striking similarity of the area to the geologic environment of Newmont's nearby Carlin gold deposit and soon focused on the gold potential. Increases in the price of gold served to stimulate interest and support for the exploration program. Geochemical samples were collected and analyzed for gold and trace elements usually associated with gold. A strong gold anomaly was found on the North Fork of Jerritt Canyon, which was called the Alchem anomaly. Drill-testing of this anomaly in 1973 revealed significant grades and thicknesses of gold mineralization in the lower portion of the Roberts Mountain formation. This initial discovery and subsequent close-spaced drilling proved the existence of several small pods of low-grade, gold-bearing material which cropped out at their up-dip edges, causing the surface anomaly. The mineralization was very encouraging, but was not, by itself, of economic importance from the standpoint of either grade or tonnage. Freeport Exploration Co. established a district office in Reno in late 1974 with responsibilities for exploration of hard minerals in the Basin and Range Province. Emphasis of the program was directed to the discovery of precious metal deposits. Enfield Bell, as District Manager for this new office, was particularly interested in the Independence Mountains and when the opportunity for a joint venture with FMC became available in 1976, it was aggressively pursued. Enfield Bell and David Stevens evaluated the FMC data and with the support of management formulated a bid in competition with 23 other companies. Freeport was selected by FMC as partner and a joint venture agreement was successfully negotiated. In mid-summer of 1976, Freeport Exploration Co. began an expanded program of detailed mapping and geochemical sampling under the direction of Bell and Stevens that led to new interpretations of the structural and alteration patterns. Hawkins' contribution during this period must be recognized since he not only was one of the original geologists assigned to the antimony and subsequently the gold investigations, but shortly after the start of the joint venture exploration, he was hired by Freeport Exploration Co. as the project geologist for the venture. Hawkins had studied the central Independence Mountains for his thesis and his understanding of the regional geology provided an excellent background for the continued exploration of the gold de- posits. His interpretation of the structure in the vicinity of the Alchem anomaly was of significant help in the Freeport exploration program. Drilling, based on this new under- standing of the geology, revealed the edge of the Marlboro Canyon ore body, which is now being exploited in the Bell mine. Although a classic bullseye geochemical target led to the discovery of the Alchem mineralization, the bulk of the reserves known today in the Marlboro Canyon area lay

Jan 1, 1985

By Axel Sahlin

Having no business interest in any of the various machines used for granulating ores, my remarks on the subject are prompted solely by my desire to contribute towards the determination of the best apparatus such information, as I have been able to gather,

Jan 1, 1893

By Kenta Suzuki, Toshiya Anami, Daisuke Shimosaka

"In an Al-Mn alloy heat exchanger fin stock, the effect of annealing conditions for as-cast and 0.1%Zr addition on recrystallization behavior is investigated using metallurgical analysis. Refinement of post-brazed recrystallized grains in fin stocks with Zr addition are suppressed for long-time annealing. In 0.1%Zr fin stocks, there was a decrease in the number of fine a-Al(Mn,Fe)Si dispersoids for pinning of sub grain and grain boundary. In addition, relatively homogeneous distribution of Al3Zr dispersoids was observed with increasing annealing time in as-cast. Homogeneous distribution of Al3Zr dispersoids can have a major effect on pinning of sub grain and grain boundary during brazing heat treatment. The homogenous distribution of fine dispersoids prior to brazing heat treatment is effective in causing the suppression of refinement of post-brazed recrystallized grain structure in aluminum alloy fin stocks.INTRODUCTIONAl-Mn based alloys are widely used as fin stocks in automotive heat exchangers because of their superior mechanical properties, braze ability, sagging and so on. In particular, coarsening of recrystallized grain structure is beneficial to avoid erosion, and achieve excellent sagging resistance (Lee, Yoon, Kim & Jung, 2002). For resisting grain coarsening, the alloys should contain a dense and homogeneous distribution of fine dispersoids to retarder crystallization (Humphyreys& Hatherly, 2004). It has been demonstrated that addition of Zr to Al-Mn alloys can shift recrystallization to higher temperatures because of the distribution of fine Al3Zr dispersoids in matrix(Pokoba, Cieslar& Lacaze,2012). According to Tohma, Asanoand Takeuchi (1987), coarsely recrystallized grain structure was obtained in 3003alloy with Zr addition after heat treatment. However, fine Al3Zr dispersoids are usually heterogeneously distributed because of segregation during casting and low diffusion rate of Zr in aluminum. Therefore, a homogeneous distribution of Al3Zr dispersoids can be achieved through long-time precipitation annealing(Jia, Hu, Forbord& Solberg, 2008)."

Jan 1, 2018

By B. Thomas Mansbach

INTRODUCTION The Overseas Private Investment Corporation ("OPIC") is a U.S. Government agency mandated to promote the economic development of the less developed countries ("LDCs") by assisting U.S. private investment in the Third World. Generally, investment decisions turn on the optimism or pessimism of the private sector's financial analysis of a project, with market price of product a major unknown in a very chancy set of projections. Discussions with American mineral companies, however, show that, more often than not, in developing country projects it is the political risks of investing in mineral exploration and extraction that pose the most serious deterrent to investment. In several of the projects described here, investments would not have been made if OPIC had not been involved providing support to the project sponsors and their funding sources. Clearly it is not OPIC's business to promote U.S. investment in a project which is not commercially viable, but OPIC's programs can neutralize the political uncertainties which act as disincentives to investment in otherwise commercially viable projects. That is to say, OPIC's programs are designed to reinforce market decisions and not distort them. Although OPIC is an independent agency of the U.S. Government, it is managed by a Board of Directors, the majority of whom come from the private sector. This, coupled with the statutory requirement that it be self-sustaining and operate with due regard for the principles of prudent risk management, requires that it operate on a business-like basis. Although established as a development agency, to the business public OPIC is both an insurance company and a lending institution, with two major programs which are available to U.S. investors in the minerals sector: its political risk insurance program and its finance program. Each has been specially tailored to the meet needs of the mining industry. The insurance program provides coverage against four basic types of political risk: Currency Inconvertibility, Expropriation, loss caused by War, Revolution and Insurrection and Interference with Operations as a result of an act of War, Revolution or Insurrection. Coverage against the risks of Civil Strife can be added to both War, Revolution and Insurrection coverage and Interference with Operations. Inconvertibility coverage provides protection against a deterioration in an investor's ability to convert local currency into U.S. dollars. This deterioration can be the result of either active or passive delays. Active delays consist of a change in exchange laws or regulations that leads to inconvertibility delays of 30 days or more. For example, if the exchange regulations at the time of contract execution allow an investor to transfer earnings equal to 18% of its registered capital per annum and the government of the host country later changes the law to allow conversion of only 12%, the insured would convert the 12% transferable under the new exchange regulations with the government foreign exchange authorities, delivering the remaining 6% to OPIC for conversion at 99% of the then prevailing rate of exchange. (OPIC does not cover devaluation risks.) Upon delivery of the local currency to OPIC, normally at the U.S. Embassy in the project country, the insured's account in the U.S. would be credited with dollars. Delays can also result from what is termed passive blockage, which includes administrative delays of more than 60 days (sometimes longer) caused by the bureaucratic tie-ups or pigeonholding of transfer requests, as well as delays suffered simply because the government of the host country does not have sufficient foreign exchange. The transfer procedure is the same as with active blockage - the local currency is delivered to OPIC in the project country and OPIC provides dollars in the United States at the then prevailing rate of exchange. The second coverage -- Expropriation -protects not only against the loss of the investment due to the well-known risks of expropriation, nationalization or confiscation by the host government, but also against

Jan 1, 1985