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By QIE Jun-mao, DONG Fang, DENG Hao-hua

The DIL402C thermal dilatometer and STA449C thermal analyzer were employed to test the linear expansion and contraction coefficient，CP and DSC curve of 304 stainless steel. The result showed that the linear expansion coefficient range was 20.9700×10-6～21.5712×10-6 and the linear contraction coefficient range was 21.2528×10-6～21.9471×10-6.The linear expansion and contraction coefficient were higher than other steel grade，so the 304 stainless steel belonged to the crack sensitive steel. Because of the crystal phase transformation occurred during the 1000~1400 ℃,the curve of CP fluctuated obviously and the defects of casting blank occurred easily. Chosen 1414℃ as the liquidus temperature of 304 stainless steel based on the analysis results of DSC. The curve of DSC was unsmooth during 1450～1100℃，the crystal phase transformation occurs and thermal stability of slab was inferior.When the initial solidified shell formed in this temperature range,the thickness of the shell would be nonuniform and the surface defects occurred more easily.

Jan 1, 2015

By Daniel Suarez

Over the last few years the mining industry has continuously been facing increases in capital and operating costs for new projects; plant expansions and also significant increases in the operating costs of existing plants. To counteract such trend the industry is seeking technologies such as the Vertimill as an option to lower the operating costs of grinding circuits. The benefits the Vertimill offers in terms of lower energy consumption and lower media consumption are well established and documented; such benefits can significantly improve the viability of a new project, plant expansions or upgrading grinding mills that need to be replaced. The paper briefly describes the operation of the Vertimill, recent regrind applications in processing Iron ores where the impact of lower energy and grinding media consumption is very significant because of the large tonnages involved, and also applications as a tertiary and secondary grinding stages of grinding circuits. The paper also highlight the expected role the Vertimill can play in secondary applications and the expected impact on the overall economics of the project.

Aug 1, 2018

By A. A. Jonke

The combustion of fossil fuels in a fluidized bed of calcined limestone particles is a potentially efficient and economically attractive process for the generation of steam for electric power production and other uses. The process results in greatly reduced emissions of both sulfur oxide and nitrogen oxide pollutants. Development work, evaluations and design studies are being carried out by various organizations under contract with the U. S. Environmental Protection Agency and the Dept. of Interior (Office of Coal Research). The AEC's Argonne National Laboratory is one of the principal participants in the development program under interagency agreements with EPA and OCR. This paper covers the principal reasons for developing fluidized-bed combustion, its advantages and disadvantages over conventional combustion methods, and some of the potential applications of the process. The participants in the multi-organizational program, the sponsoring agencies, the general status of development of the overall project, and the chief program areas that still require resolution are discussed. The main features of the program of work at Argonne National Laboratory and the results achieved so far are also included.

Jan 1, 1974

By Tomás Vergara, Marcelo Vergara, Alonso Pereira, Fernando Concha, María V. Gutiérrez, Fernando Betancourt

Filtration of copper concentrates in the mining industry is carried out in cycles, mainly cake formation, expression, and blowing. Each of these cycles depends on the solid (mineralogy, porosity, particle size distribution), water, and air (density, viscosity, permeability, and relative permeability) properties that define the performance in each cycle. The fundamental phenomenon in cake formation and expression is a one-phase flow (water) through a porous bed of solid particles (the cake), while in blowing it is a two-phase flow (water and air) through the cake. Sometimes, due to a change in the properties of the mineral, a filtration plant is unable to maintain the capacity at the specified humidity. One alternative to solve this problem is to heat the air during the blowing cycle, which in turn heats the water in the cake, this process significantly decreases the water viscosity and only marginally increases the air viscosity. In this work, this strategy was studied at a laboratory scale. The results show a significant decrease in the blowing time as the temperature of the air was increased.

May 24, 2022

By L. F. Reinartz

FROM the earliest times when our prehistoric ancestors laboriously fashioned crude tools and weapons from meteoric iron until our day when we manufacture steel in 150-ton open-hearth furnaces, the production of iron and steel has played a dramatic and important role in the development of civilization. Progress in the science of refining iron ore into iron and steel was painfully slow for many centuries. The keen scimitars of Damascus, the broadswords of the English knights, the coats of mail of French knights, and the Iron Pillar of Delhi are well¬known examples of medieval metallurgical technique. Expense and the scarcity of raw materials originally limited the distribution of iron and steel products. It was not until the nineteenth century that a determined effort was made to adapt the use of steel to peaceful pursuits. The spectacular and rapid strides made in the manufacture of steel during the last hundred years were hastened by the invention during the decade 1860 to 1870 of two great steelmaking processes-the Bessemer and the open-hearth process.

Jan 1, 1936

By NORMAN D. FitzGkrald

IN 1942 the outstanding characteristic of the petroleum industry was the multiplicity of war-induced distortions in virtually every segment of the business. So devastating was the success of the Nazi submarine campaign along the shores of the western Atlantic and on transoceanic routes that within six months after our entry into the war petroleum rationing was necessary in the East Coast area. The conquest of the Netherlands Indies by the Japanese three months after the opening of the war in the Pacific cut off our normal sources of rubber, and in our first year of war nationwide rationing of gasoline had to be invoked to conserve rubber-borne transportation facilities. Meanwhile the oil industry faced the imperative necessity for rapid expansion in the output of aviation gasoline and later accepted the vast responsibility for developing a new industry. synthetic rubber manufacture. Probably no other essentially peacetime industry has been forced to make so many complicated adjustments, yet its response to its wartime obligations has been nothing short of dramatic.

Jan 1, 1943

By C. R. Mambote

One of the processes developed for vanadium recovery from the fly ash of crude oil is through acid leaching. In the process, iron is one of the impurities that should be removed before vanadium precipitation, due to the fact that iron tends to co-precipitate with vanadium. The mechanism of iron precipitation is understood in terms of ferric hydrolysis, followed by the dimerization and subsequent polymerization of the crystalline iron compound. In order to develop a new approach for the fly ash processing, in the present paper the precipitation of iron from the liquor after the leaching process was studied with addition of NaOH or NH4OH in the presence of H2O2 or Na2C2O4 at 80°C. The objective was to investigate the feasibility of the selective precipitation which could be applied to vanadium and nickel recovery from the fly ash. The experimental results show the difficulties of removing iron by precipitation without co-precipitating nickel and vanadium.

Jan 1, 2014

By Edward J. McNamara

Sulphur as an element has been used for centuries. The technique of storing, handling and transporting it in its various forms has changed through the years. Freeport Sulphur Company, a division of Freeport Minerals Company, has produced sulphur since 1912. The first storing and transporting of this product as a liquid began in 1947. Significant environmental problems occurred in the handling of solid sulphur in the late fifties and early sixties. Since the sulphur WAS produced in the liquid form and the major customers used it in the liquid form, it became obvious that a liquid transportation system was the solution. The liquid sulphur delivery eliminated the dusty and hazardous handling problems and the contamination of the sulphur by dirt, acid, moisture and other materials. The remelting by the customer to use the sulphur is thusly eliminated with a savings in energy. In addition, this change in the mode of handling permitted a broad development of new sulphur mines in the marshy coastal area of Louisiana and offshore in the Gulf of Mexico.

Jan 1, 1978

By W J. Riva

This paper reviews the coal mining operations of The Canmore Mines, Limited, at Canmore, Alberta, paying particular attention to the use of this coal by the metallurgical and chemical industries. The characteristics of the deposits are outlined, and the mining and processing methods used are discussed. Introduction M INING in the Cascade coal area of Alberta began form-ally in 1886 when the Canadian Anthracite Coal Company was granted its charter. Earlier operations had been confined to prospecting and family-type enterprises serving the market area within barging distance on the Bow river. From 1886 to 1964, seven mines were opened between Banff and Ribbon Creek; six of these have since been abandoned, leaving the B c 0 L. original tenant, under the name of The Canmore Mines, Limited, as the sole survivor. The town of Canmore, hub of the mining ventures, is located on the main line of the C.P.R. and on the Trans-Canada Highway, 67 rail miles west of Calgary and 57 4 miles east of Vancouver, as shown in Figure 1.

Jan 1, 1965

By Homer J. Ballinger

The Rex mine is one of several zinc deposits in Ozark and Howell Counties, Mo. It is the second of these deposits investigated by the Bureau of Mines in an effort to demonstrate reserves of sulfide ore underlying the shallow carbonate ores from which the district's major production has come. The initial investigation was made during 1945-46 on the Alice mine, Ozark County, Mo.21 The investigation reported herein was conducted during 1947. The Rex open pit is about 250 feet long, 100 feet wide, and about 25 feet deep (average). Three caved shafts are evident in the bottom of the pit, but the extent of the workings from these shafts is not known. The Bureau of Mines drilled five churn-drill holes in and around the Rex pit to test the grade and the vertical and lateral extent of the deposit. Two of the holes indicate notable zinc mineralization ranging from less than 1 to more than 10 percent metallic zinc, but largely in the oxidized condition.

Jan 1, 1948

By D. PATIL, B. K. Parekh

Water is the mainstay for the beneficiation of fine-size coal and minerals, but it is also the least desirable constituent of the final product. The basic concept of the novel process described in this paper is based on the differential surface heat absorption capacity of the individual particles. When a differentially heated solid mixture is placed on a moving belt that has been coated with low-temperature melting resin, the hotter component of the mixture will stick to the belt while the relatively cooler component will stay free on the belt and fall off at the end of the belt run. Experiments were conducted with pyrite, coal and quartz particles of 6 × 18 mesh size. The goal of the test program was to find the optimum conditions at which there exists a required temperature difference between minerals and coal particles by controlling the operating and system variables. Preliminary test results show that there is a potential for separating mineral matter from coal using the thermo-adhesive separation technique.

By Y. C. Kim

This paper reviews the past 18 months of geostatistical work in a coal deposit performed jointly by the University of Arizona and the Homer City Owners. The objective of the study was to better predict the in-seam sulfur values of the deposit for the purpose of future emission control. Based on initially available 112 DDH information, variogram models were developed for Sulfur, Ash and Thickness for the entire deposit. The deposit was then kriged using 333 m x 333 m (1000 ft x 1000 ft) panel size. The estimation variance information obtainable from geostatistics was next utilized to improve the development drilling activities that were underway. The results of this effort are presented in this paper. In addition, this paper describes (1) the reasons for preferring kriging over the conventional isopachs, (2) the results of empirical validation of the kriged estimates using 19 additional DDH information, and (3) up-to-date experience on the use of conditional simulation of the same deposit for the future emission control strategy development.

Jan 1, 1980

By T. Goda, H. Kiuchi, M. Iguchi

"IntroductionThe utilization of silver in the electronic industry has been increasing in recent years. It is desirable that valuable metals are recovered from the used scraps of these industrial goods. Condensor chips, for example, contain silver, palladium, and Ag-Pd alloy. The dissolution behavior of silver was studied assuming that scraps such as used condensor chips in which Ag-Pd paste is used are subjected to wet treatment.ExperimentalIn this study the powder, granules, and flakes of silver were used in these nitric acid leaching experiments. The nitric acid solution was agitated in a glass reactor with a magnetic stirrer and heated to the required temperature. The experiment was started by putting the silver sample in the solution. After the leaching, the solution was filtered and the concentration of silver in the filtrate was analyzed by ICP.ResultsIn dilute nitric acid of less than 5 N, silver powder dissolved easily with increase in the concentration of nitric acid and temperature. However, the more intensive the stirring of the solution was, the lower the dissolution quantity became. Fig. 1"

Jan 1, 2000

By V. J. Parks, Leonard Obert, A. J. Durelli

The state of stress in the region where core discing initiates has been investigated through the use of three-dimensional photoelastic models and the results of this study have been compared with those of a previous investigation of rock models. This comparison showed that discing initiates at a point of maximum shear stress, but that the magnitude of the shear stress, as determined photoelastically, is much larger than the shear strength of the rock as deter-mined from conventional triaxial testing. Moreover the shear stress required to produce discing is not constant, but depends on the applied stress field. Possible explanations for these effects are included in this article. In both exploration core drilling and overcore drilling to determine the stress in rock, occasional sections of the core obtained are broken into a series of discs.I* This discing phenomenon has been investigated in the laboratory to ascertain the state of stress required to produce it. The objective of the study was to obtain information that would make it possible to approximate the state of stress in subsurface rock from which disced cores are obtained. Referred to as the discing test, this laboratory study was conducted to determine the applied axial and radial loads required to produce discing in cylinders of rock from several sources. The dimensions of these cylinders are given in Fig. 1. Discing was produced by first applying an axial load to the cylinder and then diamond drilling the core along its axis. The radial load was then incrementally increased until discing initiated. The discs fractured or ruptured* on surfaces approximately normal to the axis of the core (planes A, B, C, D, E, Fig. 2). In many instances, the bottommost disc fractured before the drill had advanced past the points F and F', cre- ating a mush room-shaped fracture surface FEF'. Alternatively, it was also found that the same shaped fracture surface could be created by first drilling in an unloaded core to some point, say F and F', and then triaxially loading the core until fracture occurred on the plane FEF'. Jaeger and cook4 produced similar fracture surfaces in specimens subjected only to a radial biaxial load. From these laboratory studies and observations made in the field, it can be inferred that fracture or rupture initiates in the proximity of the lowest point in the kerf area, (at F and F', Fig. 2) and that the fracture or rupture surface progresses inward from this point. The experiments described above, however, do not provide any information as to the state of stress at the point at which fracture or rupture initiates. In the investigation discussed in the following sections, a three-dimensional photoelastic analysis was conducted to determine the stress distribution in the proximity of the kerf area of a triaxially loaded plastic (epoxy) cylinder containing a short section of core.

Jan 1, 1969

This paper discusses support requirements for the proposed monorail system to be used in decline development. The monorail drilling and loading systems are systems that move on the rail (monorail) installed in the roof of the decline and supported by roof bolts, suspension chains and steel supports. However, due to the weight of the components of the two systems, it is imperative that the force in each roof bolt, suspension chain and steel support capable of suspending the weight of the heaviest component is determined. Numerical models that relate the weight of the monorail drilling and loading components to the required strength in the support system have been developed. Using these developed models, numerical values of the forces in each roof bolt, suspension chain and steel support, required to suspend the weight of the heaviest component of the monorail drilling and loading systems are determined.

Dec 6, 2010

By William J. Campbell

The possibility of chemical analysis by identification of characteristic X-ray spectral lines was first suggested by H. C. J. Moseley in 1913.3/ For a given spectral series it was found that the frequency of the characteristic radiation was proportional to the square of the atomic number of the excited atom. Siegbahn and his coworkers improved the instrumentation and accurately determined the wavelengths of the characteristic spectra for most of the elements .4/ In fluorescent X-ray spectroscopy, the characteristic X-rays of atoms are emitted or fluoresced upon absorption of primary or incident X-rays of shorter wave-lengths (higher energies). The K spectral lines are used for elements of atomic numbers 13 to about 63, and the L series for those above atomic number 50. Whether the K or L lines are used for elements 50-63 depends upon the type of instrumentation available. The laboratory at the Eastern Experiment Station of the Bureau of Mines, College Park, Md., uses the K lines up to atomic number 57 and the L lines for thong elements of higher atomic number.

Jan 1, 1955

By D. F. Gibbons

THIS investigation was undertaken in order to gain further information on the mechanism of plastic deformation of iron at temperatures between room temperature and 77.2°K, and also to contribute to our understanding of the low temperature brittleness phenomenon that occurs in both the tensile and impact tests. It was decided to study as pure an iron as possible and to use the tensile test in order to simplify the problem as much as possible. Two series of iron were used throughout the investigation: iron A, obtained from the National Research Corp. and supplied as gas-free, high purity iron; and iron B, obtained from Fast' and produced by melting iron under purified hydrogen. Typical analyses of samples of both irons, after fabrication, are given in Table I. The main difference in composition of these irons is in their nickel and oxygen contents. Nickel has a very large solid solubility in iron. However, oxygen has an extremely small solid solubility. An attempt was made to reduce the oxygen content still further by remelting under purified hydrogen. This was successful in reducing the oxygen content to -0.0006 pct. However, no results on tests of this iron are included, since difficulty was encountered in fabricating the ingot. Wire specimens 1 mm in diameter were used for the investigation. The wires were produced from the ingots, as supplied, by cold rolling and swaging, with intermediate vacuum anneals at 700°C. Care was taken to reduce preferred orientation in the wires to a minimum by keeping the percentage of reduction in area between anneals of 30 to 40 pct. X-ray transmission photographs showed no indication of preferred orientation. The final grain size of iron A was 20 to 24 grains per linear mm and of iron B, 16 to 18 grains per linear mm. All specimens were tested in the decarburized and denitrided condition unless otherwise stated. The procedure was to pass hydrogen, saturated with water vapor at 26oC, over the specimens at 730°C for 2 hr. The specimens were quenched in iced water and then annealed in a vacuum of - 5x10-6 mm Hg for one day at 560°C to remove hydrogen. Higher temperatures were used for the vacuum anneal but this temperature was found to be quite satisfactory in removing hydrogen. The specimens were slow-cooled after the vacuum anneal. Where it is stated that the specimens were carburized, the specimens were given an identical decarburizing treatment and then carburized by passing hydrogen, saturated with pure n-heptane vapor at 0°C, over the specimens at 730°C. The specimens were then homogenized at 730°C for 2 hr in dry hydrogen. After the carburizing treatment the specimens were given the same vacuum anneal as for the decarburized specimens. The carbon content was determined from the maximum value of the internal friction carbon peak.2 Apparatus Fig. 1 shows a diagram of the tensile apparatus, with half the cooling coil removed. The cooling coil enabled temperatures from 200" to 77.2oK to be obtained. The apparatus was designed to fit a standard Tinius Olsen Universal tensile machine. The apparatus consisted of the rigid plate A which carried two carefully machined hooks H. These hooks attached the plate firmly to the moving crosshead of the tensile machine. The lower grip B was rigidly suspended from the plate A by three stainless steel rods. The upper grip C was joined to the upper grip of the tensile machine by the stainless steel rod E. The lower part of the apparatus was surrounded by a Dewar vessel, which was made a sliding fit inside the brass collar D. The specimen was held in a clamp which fitted into the grip, forming a ball and socket joint (see inset a). This was to attain as nearly pure

Jan 1, 1954

PRESIDENT MARKS: We have a letter from Mr. Frank N. Cameron, of the Utah Fuel Company, that perhaps I had better read to you. It is addressed to Mr. Shubart, Rocky Mountain Coal Mining Institute (hands letter to Secretary Shubart). UTAH FUEL COMPANY MINE SUPERINTENDENT Castle Gate, Utah, February 9, 1926 Mr. F. N. Cameron, Vice-President & General Manager, Salt Lake City, Utah. Dear Sir: It has now been about nine months since we started the system of having the fire bosses take charge of all shooting and gas inspections at the Castle Gate Mines. We had considerable trouble when we started. Like all other new systems which have been installed, this one was hard to get started and was criticised both by the miners and officials in our own organization, as well as by other organizations in the mines of this county. The older the official and miner was the stronger they seemed to be opposed to the new method. They have no arguments to offer against it, but they know it is not right "because their grandfather did not work it in that way." We know that when some of the other systems were started in the mines of this county, they were fought from all angles. The electrical shooting almost brought the miners at Sunnyside out on strike; their main argument was that they could not make a living if they had to obey the rules that the company was trying to enforce. They also claimed that they could not make enough coal for the day's work by only shooting once at the end of the shift. The same applies to the sprinkling the miners claimed that they would all die of some disease if they were forced to work in a sloppy, wet mine every day. The mining machine was another thing that was hard to install the miners claimed that the company was trying to rob the Door miner out of a chance to make living by installing mining machines to cut the coal. I do not think that the system we have at our mines is perfect-there is still room for improvement in the shooting and inspection of the mines, but I do really think that for safety and efficiency, the inspection department at our mines, working under the new system, is as good if not better than any other inspection department working under the old method in the other mines. I am giving some of the arguments in favor of the new system and would like to hear the arguments against it-if there are any. In cutting the men from monthly to day wages, I do not think it is only the company that benefits by the arrangement, but the fireboss is the one that gets the best of it by the change. How often have we heard the fireboss complain of the hours he had to put in just because he was a monthly man? Under the new wage scale he is paid for every hour he puts in the mines, and when the mines are working every day he makes considerable more than when he was being paid a monthly salary. When the mines are working slow, there is generally some work that has to be done on idle days, or in slow times the force could be cut to a point where some of the work could be done on idle days, and thus the fireboss could be given the preference in this extra work and in this way, his wage could be kept up to the standard monthly salary he was getting before. Under this arrange-

Jan 1, 1926

By V. Patarini, M. Salkind

BECAUSE of its high strength and stiffness coupled with low density, continuous boron filament is showing great promise as a potential reinforcement for both metals and nonmetals. Of primary consideration for structural applications is the fatigue behavior of boron fiber composites. Composite fatigue behavior is dependent upon three factors: 1) fiber fatigue behavior, 2) matrix fatigue behavior, and 3) the effect of the interface and fiber ends. The purpose of this note is to describe the behavior of boron filament in rotating beam fatigue. The filament, described by Talley' and Galasso, Salkind, Kuehl, and Patarini,' was made by the hydrogen reduction of boron trichloride on a hot tungsten filament. Testing was performed using a commercial rotating beam wire fatigue tester* described by Votta.~ One end of the test sample is held in a chuck in a synchronous motor. The sample is bent around in a "U" shape, and the other end inserted into a carbide bushing. The maximum strain occurs at the bottom of the "U" where the radius of curvature is a minimum. The strain is adjusted by adjusting the length of the specimen and the location of the bushing. Samples were rotated at 3600 rpm and an automatic shutoff device used to determine the number of cycles to failure. The measurements were accurate to the nearest 360 cycles. The fatigue behavior is summarized in Fig. 1 for fifty-one samples of 4.8 x 10"3 in. diam fibers and ten samples of 3.2 X 10"3 in. diam fiber. The two sample groups represent two different filament production runs and two different nominal size groups. Both groups exhibited nominal tensile strengths of 400,000 psi. No significant difference in the fatigue behavior of the two sample groups is apparent. The scatter in the data is not unexpected for a brittle filament which exhibits a tensile strength distribution with a standard deviation of 10 to 15 pct. Because the test procedure provides a known outer fiber strain in the sample, the maximum stress was calculated assuming a Young's modulus of 58 x 10' psi. This value was selected as being representative of several nominal fiber sizes.2 All of the samples which failed exhibited sudden, catastrophic fracture, and no permanent deformation. One sample was stopped after 1.66 x lo8 cycles at *200,000 psi. The fiber exhibited no apparent damage or deformation. It is apparent that the fatigue resistance of boron filament is quite good. It can therefore be speculated that the fatigue behavior of boron fiber composites would be controlled by the "weaker links", namely matrix fatigue resistance and interface behavior. In fact, preliminary investigations have revealed that this is true for boron-reinforced aluminum? It should be noted that the data presented herein may not necessarily reflect the tensile fatigue behavior of boron filament. It is well-known that boron filament has a radial residual stress pattern with the outer surface in ~om~ression.~ Because of this fact, tensile failure is normally nucleated in the interior of the filament.5 Since the data presented herein is for a rotating beam test in which only the outer surface of the fiber is stressed to the maximum value, it would be incorrect to assume that the failure mechanism and fatigue behavior would be the same if the fiber were tested in tensile fatigue. The fact that many of the data are well above the nominal 400,000 psi tensile strength would tend to support this argument. The authors would like to express their appreciation to the United Aircraft Research Laboratories for supporting this investigation and for permission to publish the results. A portion of this effort was supported by the Air Force Materials Laboratory under contract AF33(615)-2125.

Jan 1, 1968

By L. Hartsell Cash

INTRODUCTION Created in 1944 to help rebuild those economies, principally in Europe, which were seriously damaged or destroyed during the Second World War, the World Bank--or to use its correct name, the International Bank for Reconstruction and Development-began its operational phase by making a loan to the Government of France to accomplish two tasks: (i) to import coal for space heating purposes; and (ii) to buy new machinery and equipment to help rehabilitate its coal mines. Once the thrust of reconstruction in postwar Europe was largely accomplished, the World Bank Group (for today the World Bank has three separate lending windows) turned to mobilizing funds to improve living standards in developing countries, which remains its primary goal today. Over this period of time, the World Bank Group has continued to assist the world mining industry in various ways and, since 1955 the World Bank Group has financed mining or mineral processing projects with loans/credits totalling $1.5 billion. The World Bank Group consists of two institutions--the World Bank itself and the International Finance Corporation (IFC), which was founded as a separate institution in 1956 and three separate lending windows--the World Bank, the International Development Association (IDA), and IFC. The World Bank loans are provided at commercially-related interest rates but have grace periods usually of up to 3 to 5 years and repayment periods ranging from around 15 to 20 years. Since the World Bank raises its operating funds on the international capital markets in varying currencies and in varying interest rates, it relends a basket of currencies at floating interest rates which are fixed every six months to reflect the Bank's own borrowing cost. At the present time, the interest rate is just below 10% per year and in addition, a one-time front-end fee of 1/4 of 1% is charged. Also, a commitment fee of 3/4% per year is charged on the undisbursed amount of the loan itself. For loans to industrial and mining projects, it is normal to charge an additional guarantee fee of 1 to 1.5% in addition to the annual interest rate. This guarantee fee is payable to the government of the country in which the project is carried out since, by its charter, the World Bank is required to have the guarantee of the host government for each loan made in a specific country. By far the greatest source of lending funds within the World Bank Group is that of the World Bank itself and for the fiscal year ending June 30, 1984, the World Bank approved loans totalling $12 billion. The second lending window within the World Bank Group is IDA which performs the same functions as the Bank itself and has the same staff. Nevertheless, its loans (called credits) are made on much softer terms and are made to the poorest nations only. IDA funds are subscribed by the wealthier countries, usually as grants, and these are relent as credits to those countries with the lowest per capita income. IDA credits are made for 50 year periods, including 10 years of grace, to the government itself. The credits are interest free, but there is a service charge of 3/4% per year on the amount withdrawn and outstanding to defray the administrative costs of IDA. Credits approved during fiscal 1984 totalled $3.5 billion. The third lending window is IFC. While IFC is a separate corporation and operates quite separately from the World Bank and has its own staff and regulations, it works very closely with the World Bank on its overall approach to the mining sector and to a particular country. IFC's mission is essentially to supply venture capital and to stimulate development of the local private sector in capital markets as well as to promote the international flow of private capital to developing countries. Unlike the World Bank and IDA, the IFC does not lend directly to governments

Jan 1, 1985