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By I. Havenaar

EXPERIMENTAL DATA In an article by C. K. Ferguson and J. A. Klotz,1 experiments on the filtration of drilling muds under borehole conditions are discussed. Experimental data on mud filtration through the wall and the bottom of the hole are presented. From the data on bottom-hole filtration it was concluded that the filtrate does not flow freely into the formation, but that the pores of the formation are plugged by the mud. A quantitative interpretation of the data can be civen, by using a formula for bottom-hole filtration, dehved below. This formula is based on the following assumptions, 1. Each time a blade of a drag bit, or a cone of a roller bit, moves along the bottom of the hole, the mud cake is completely removed. 3. A new mud cake is immediately formed on the freshly produced surface, and losses of "whole" mud into the formation are negligible (this is equivalent to an immediate plugging of the pores). 3. The filtration of the mud on the bottom of the hole follows the classic law: V = A +1—(Eq. I), where t is the time required to yield a volume of filtrate V, A is the surface area of filter cake, and C is a constant. The application of this equation means that any eroding effect of the mud stream on the mud cake is neglected. The formula for the calculation of the volume of filtrate, Q,, flowing in one second through the hole bottom (diam. d cm), when using a bit with n cones or blades rotating at a rate of rn revolutions per second, is derived as follows: The mud cake is formed on the bottom of the hole in the time t =1; the filtrate volume V which passes n through the bottom In this time 1s given by Eq. 1: After1/nmsec the mud cake is removed. In one m second this process takes place nm times. Therefore the volume of filtrate, obtained in one second is given by This equation has now been applied to the experiments of Ferguson and Klotz. The constants C were derived by means of Eq. 1 from the API filter losses of the muds used by the authors (t = 1,800 sec; A = 45.16cm2). A three-cone bit was used (n = 3) at 90 rpm (m = 1.5). The calculated figures are compared with the experimental data in the table below. The calculated values of Q, are usually lower than the experimental values. This may be due to the following causes. 1. The value of C used in the calculation is based on the API filter test (filtration pressure of 100 psi), whereas the experimental data were obtained with a filtration pressure of 200 psi. Although the effect of the pressure on C is not large, C decreases somewhat with increasing pressure, and this leads to a higher filtration rate. 2. Mud losses and the eroding action of the mud stream on the cake are not entirely negligible. 3. The values of Q, derived by Ferguson and Klotz from their experiments are too high, because of their assumption that all pore liquid within the formation drilled is picked up by the drilling mud. It is found, however, that the calculated values of Qf, except in the case of oil base muds, are of the right order of magnitude. ACKNOWLEDGMENT The author wishes to thank the management of the Koninklijke/Shell-Laboratorium, Amsterdam, for permission to publish this note.

Jan 1, 1957

By William R. Rumbold

THE Kinta valley in the State of Perak, one of the largest of the Federated Malay States, is probably at the present time the richest alluvial tin-district in the world, Perak producing from 20,000 to 25,000 tons of tin annually, and the Kiuta valley being the chief producer. The valley runs approximately north and south, and is 30 miles long by 12 wide. It is very flat, the mountain-ranges on either side rising abruptly from the plain, that on the east being the great Central range of the peninsula, and that on the west a subsidiary range marked " Kledang " on the map, Fig. 1. The valley is drained by the Kinta river, which rises in the eastern mountain range and flows south to join the Perak river, being joined by numerous streams from both mountain-ranges. The rain-fall is heavy, averaging annually about 90 in. The whole country is covered with dense jungle, except where it has been cleared for mining-operations and a small amount of cultivation. Mining villages are scattered throughout the valley, the chief towns being Kampar, Batu Gajah, Lahat and Ipoh, the latter being the center of the mining-operations. An ideal section of the main geological features of the Kinta valley is given in Fig. 2. The valley is composed of a highly crystalline limestone, usually white in color, sometimes gray; in fact, it may be called marble. It is always highly inclined and often contorted, and in some places is interbedded with shale. On the east side of the valley, near its contact with the granite, it forms a remarkable series of limestone cliffs, which rise in some cases as high as 2,000 ft. above the level of the limestone in the valley. It is non-fossiliferous, and its geo-

Sep 1, 1906

By Ray Hammond Misener

THE purpose of this paper is to describe the installation of the pumping station on the 3314-ft. level of the Carlos Francisco mine of the Sociedad Minera Backus y Johnston del Peru, at Casapalca, Peru. However, so much preliminary work was necessary before the actual installation could be started that some of that work will be described briefly, in order to clarify the discussion of the main subject. The Sociedad Minera Backus y Johnston del Peru, a subsidiary of the Cerro de Pasco Copper Corporation, owns and operates a group of mines in the Casapalca district, of which the most important are the Carlos Francisco and the Aguas Calientes. These two mines, one mile apart, are connected on their 2100 and 2700-ft. levels. These are motor-haulage levels, equipped with 3 ½ -ton Baldwin-Westinghouse locomotives operating from a 260-volt d.c. overhead trolley. A 38-cu. ft. hopper-bottom car is used. Each mine has a 2 ½ -compartment, inclined (70°) winze shaft. The Aguas Calientes shaft, operating between its 2100 and 2900-ft. levels, is used only for men and materials; whereas the Carlos Francisco shaft, between the 1700 and 2700-ft. levels of that mine, is the main operating shaft for the district. All the ore from the Carlos Francisco and the Aguas Calientes mines is hoisted through the Carlos Francisco shaft. The ore produced in these mines is by-passed to the 2700-ft. level, where it is gathered by the electric trains, taken to the Carlos Francisco shaft and dumped into an ore pocket in front of the shaft. The ore is hoisted to the 1700-ft. level in 2-ton self-dumping skips and emptied into a 150-ton loading pocket. There it is loaded into electric trains and despatched to the concentrator through the Backus and Johnston tunnel, which is the main entry from Casapalca to all the mines in the Backus and Johnston group. DEVELOPMENT PROGRAM In 1934 the following development program was outlined for the Carlos Francisco and the Aguas Calientes mines: (1) to deepen the Carlos Francisco shaft from the 2700 to the 3400-ft. level, (2) to deepen the Aguas Calientes shaft from the 2900 to the 3300-ft. level, and (3) to connect the two shafts on the 3300-ft. level with a motor-haulage crosscut. Each mine was to be developed also on intermediate levels (2900 and 3100). The three levels were to be spaced 54 meters (177 ft.) floor to floor, measuring from the 2700-ft. level along the incline of the shaft. The Carlos Francisco mine, together with the section between it and the Aguas Calientes mine, produces 10,000 gal. of water per minute. A fault to the north

Jan 1, 1943

By J. C. Motz

During the past five years, Rexnord has developed, tested and introduced the Nordberg Omnicone Crusher to the industry. When the Symons brothers invented the cone crusher over 60 years ago, they employed the principle wherein the length of the crushing stroke was related to the free fall of material by gravity. This permitted the material being crushed to fall vertically in the crushing chamber; and in effect, caused the particles to be crushed in a series of steps or stages as the particles got smaller due to the crushing action. This also helps to reduce the rate of wear of the liners since the sliding motion of the particles is minimized.

Jan 1, 1986

By C. F., Christopher

The purpose of any steel-making process is to convert the two raw materials iron and scrap into steel. The chemical analysis of the steel is set within certain limits which involve the physical proper- ties desired by the consumer. In addition to tensile properties a large number of other properties are at the present time desired, such as impact resistance, grain size regulation, specific degrees of hardenability, resistance to creep at high temperatures, resistance to expansion on heat treatment, the ability of the product to undergo extreme amounts of cold deformation without failure, and many other properties which are not directly related to the specified chemical analysis. Variations in many of the properties of plain-carbon steels are due to elements and compounds not included in the ordinary "five element"§ composition. Such variations result primarily from variations in oxidation of the metal in the furnace and from the deoxidation method employed. The steel-making problem therefore resolves itself into two distinct sections: (I) the elimination of certain elements from the charge (the iron and scrap entering the furnace) and the addition of materials to meet the chemical specifications for the heat; (2) the manipulation of the slag and metal and the process of deoxidation to give certain desired properties in the steel entirely apart from the chemical analysis specified. Each of 'these two ends must be attained

Jan 1, 1957

By F. T. Havard

(Canal Zone meeting, November, 1910.) I. INTRODUCTION. THE present truce in litigation between Western smelting and ranching interests gives opportunity for a summary of the results achieved by metallurgists in condensing fume and de-acidifying furnace-gases. In the absence of complete records of past experiments, there has been a good deal of unnecessary duplication of attempts and' failures. Yet, especially under the recent policy of our large corporations, looking to the economic recovery of the values of by- and waste products, original and, in some cases, effective measures have been developed by American metallurgists. In the case of Bliss vs. the Anaconda Copper Mining Co., the Montana Supreme Court, recognizing the progressive efforts made to render the flue-gases innocuous, and the value to the community of the smelting company's operations, refused to hamper its work, and returned a verdict in favor of the defendant. In the trial, the experimental firms of the company in the so-called "affected region" were proved to be thriving perfectly, showing that immunity was guaranteed to vegetation and stock by the wide distribution of the sulphurous acid gas in the dry air of Montana. Indeed, L. S. Austin has proved that by the time the fume is 4,000 ft.. distant from the stack, the percentage of sulphurous acid has been diminished from 2.28 to 0.00045; and Angus Smith has shown that rain must contain 40 parts per million of free acid before vegetation is affected. The arsenic in the stack-gases is but a very small part of the original content of the ore, of which 80 per cent. and over is rejected in the concentrator and furnace waste-products or recovered in the flues. Nevertheless, neither the peace in Montana nor the armistice

Aug 1, 1910

By T. Sterry Hunt

But little was known of the coals of Southeastern Ohio until the present survey of the State under Dr. Newberry began its work. The results of the geological investigations of Prof. E. B. Andrews in this region, and of the chemical investigations of Prof. T. G. Wormley, both of which appear in the reports of the survey for 1869 and 1874, and more recent special reports by the former, together with some data for which I am indebted to the kindness of Dr. Newberry, and my own limited observations, have served me for the preparation of the following notice of the coals lying on the western border of the great Appalachian coal-basin in the region drained by the Hocking River and its tributaries, and belonging to the Lower Coal-Measures. Some uncertainty exists as to the place in the suc- ' cession of the lower coals to be assigned to the seams known and mined in the Hocking Valley. It is the opinion of Prof. Andrews that the inequalities of the original surface were such that we cannot identify in that region the lowest coals known in Northwestern Pennsylvania and the contiguous parts of Ohio, but that we must rather count from above downwards. These conclusions Dr. Newberry is not prepared to accept, and further researches will be necessary before certainty can be attained in this matter. Meanwhile it seems, from a study of its relations to the Pomeroy or Pittsburgh seam, that what is known as the great vein of the Hocking Valley, occupies the horizon of the Upper Freeport coal, E of the Pennsylvania survey, or No. 6 in Dr. Newberry's enumeration, counting from the base. This seam, in the region in question. assumes certain characteristics which, taken in connection with its geographical position, give it a great importance among the coals of the State. The area to be noticed includes the whole or parts of several townships in Perry, Hocking, Vinton, and Athens Counties, lying near the margin of the basin over which the vein in question assumes the character of a dry-burning or splint coal, and has a thickness varying from six to ten and even twelve feet. Its precise limit southward cannot at present be clearly defined, but it has been found as far south as the line of the Marietta and Cincinnati Railroad, with a thickness of six feet, and is mined at various points along the valley of the Hocking River, near Nelsonville, where it attains six or seven feet. To the northward, along the tributaries of this river, Sunday and Monday

By D. C. Willett

INTRODUCTION The Symposium on the Development of Underground Space, held in Seattle, Washington, from October 1 through 3, 1980, was organized by the "Deep Space" subcommittee of the ASCE's Underground Research Technology Council. The primary objective of the symposium was the exploration of the interfaces between the investigation, design and construction of large underground facilities in "deep space" which, for the purposes of the committee, has been defined as starting at 100m below ground surface. The meeting focussed primarily on tunnels, caverns and shafts in hard rock; the meeting format comprised a number of brief presentations concerned with the technical aspects of investigation, design and construction, followed by an open discussion, and concluded with the assembly of recommendations regarding the interface problem by the symposium participants. The principal considerations brought out during the symposium, and a general review of the conclusions, are briefly presented in the following paragraphs. INVESTIGATION The sessions dealing with "Investigation" were chaired by Dr. H. Pratt. Presentations were made by Dr. D.C. Banks, Dr. W.A. Hustrulid and Dr. Pratt. The extent of the interface of the investigation phase with the other (design and construction) phases of an underground facility will depend in large measure upon the nature of the facility; at one end of the spectrum, the investigation must be in continuous and closely coupled relationship with the design of a radwaste facility. At the other end of the spectrum, for (say) a small mining operation, the interface is largely associated with the initial development, with only minor on-going involvement.

Jan 1, 1981

By L. L. Bolton

The Department of Mines as at present constituted has evolved from the organization which came into existence following the passage of the Geology and Mines Act by the Dominion Parliament in 1907. At the outset, it may be said that it is not a function of the Department of Mines, nor of any of its branches, to administer the mining rights vested in the Crown. The title to Crown lands in the provinces of Nova Scotia, Prince Edward Island, New Brunswick, Quebec, Ontario, and British Columbia ( with the exception of certain specified areas, such as Indian Reserves, Ordnance Lands, the Railway Belt of British Columbia, and the Peace River Black) is vested in the respective provincial governments ; the title to Crown Lands in the provinces of Manitoba, Saskatchewan, and Alberta, the Yukon and Northwest Territories, and in the Canadian Arctic, is vested in the Dominion Government, and matters pertaining thereto are (with a few exceptions) administered by the Department of the Interior, Ottawa. Nor are statistics of mineral production at present collected and published by the Department of Mines. This function did belong to the Geological Survey from 1886 to 1906, and to the Mines Branch from 1907 to 1920; but commencing with 192l this duty was transferred to the Dominion Bureau of Statistics, consequent upon the decision of Government to place the collection of all statistics under the direction of one officer.

Jan 1, 1929

By Thomas M. Dr. Drown

REMARKABLE as have been the direct results of Danks's puddler, there are some indirect and incidental results, which are well worthy of study for their intrinsic value and suggestiveness. The success of Danks's machine is due mainly to the nature of the lining and the manner in which it is attached to the walls of the revolving chamber. Herein lies Danks's merit and good fortune. Given such a lining, and the success of the machine, as far as puddling iron is concerned, could easily be predicted. Other important results have, however, been obtained with this machine, which, though clearly explicable, were, nevertheless, unanticipated. These are the increased yield of bar-iron over the pig-iron charged, and the elimination of phosphorus, which, though not absolutely complete, is yet more decided than in the case of hand-puddling. As regards the increased yield, this is merely what we have a right to expect if we consider the puddling process to consist in the oxidation of the carbon and silicon of the pig by the oxygen of the oxide of iron. That this result is attained, nearly to the extent that the theory requires, in Danks's puddler, and has never been more than partially attained by the most careful experiments in hand-puddling, points clearly to the fact that the contact of the molten pig-iron with the oxide of iron is much more intimate and complete in the one instance than in the other. The action of puddling in Danks's machine may be considered to be twofold first, the removal of the carbon, silicon, and phosphorus of the pig, which is the primary object, and, second, the production of wrought iron direct from the ore, which is entirely an incidental result. Intelligent metallurgists were not long in recognizing in this latter result a fact of deeper import and greater value than the attainment of a perfect puddling process. A new method

Jan 1, 1874

By R. H. Sweetser

AT the Buffalo meeting in October, 1898 (Trans., xxviii., 865), our Secretary, Dr. Raymond, in speaking of the obstacles he had encountered in securing contributions to the Transactions from members in practice, said: "It is the disinclination of many members to communicate incomplete or partial or preliminary results. They are going to write, ' some day,' a thorough and monumental paper; and meanwhile they prefer to communicate nothing. . . . It is the difficulty to which I have just referred that I have encountered in a wide correspondence with members, undertaken for the purpose of securing contributions of fact and opinion concerning the special subject of this discussion. . . . Almost none of them seem to recognize the value of preliminary, incomplete and indecisive reports of practice, as laying the foundation for a thorough inquiry." This remark was made in immediate reference to a discussion concerning blast-furnace tuyeres ; but, notwithstanding this appeal from the Secretary, little has been recorded regarding the distribution, the penetration, and the pressure of the blast at the tuyeres and inside the iron blast-furnace. I am therefore encouraged to contribute the following incomplete and crude observations of the blast-pressure inside the hearth. At the suggestion of J. H. Frantz, the General Manager of the Columbus Iron & Steel Co., a test was made at the East furnace of the company to determine whether there was any difference in blast-pressure at the different tuyeres. The apparatus used for this test was not sensitive enough to give accurate results. It consisted of a small pressure-gauge mounted on a 3/8-in. gas-pipe. A hollow plug, fitting into the peep-hole of the tuyere-cap, prevented the blast from blowing-out during the test. The test-pipe was held in place by means of the handle on the outer end.

Mar 1, 1909

The occurrence is recorded of an indurated kaolinite claystone associated with red-beds in the Burralow Formation of the Narrabeen Group near Putty toward the north-west of the Sydney Basin. The claystone is similar in composition and structure to the Garie Member which immediately overlies the kaolinite-rich "chocolate shales" of the Bald Hill Claystone in the sofrthern part of the basin. Unlike the Garie Member however, the Putty claystone is lenticular and the associated red-beds contain abundant quartz and illite in addition to kaolinite.The source of the Putty claystone is not known. Possibly it is an extension of the Garie Member to the northwest or alternatively, it may represent fine outwash of detritus that produced the coarse-grained kaolinite claystones in the Triassic succession of the Merrygoen-Binnaway area. Although the material is suitable for the manufacture of aluminous refractories the limited size of the deposit precludes its commercial exploitation.

Jan 1, 1971

By Michael Robert Hodson

I. Introduction The free market cash price of aluminium in the third quarter of 1985 is approximately $1000/tonne, well below the short as well as the long run marginal costs of production. The current disparity between marginal costs and price, as well as the pattern of prices since their high level in 1980, has led many economists to question whether prices are governed by the 'fundamentals'. Prices, some would argue, are the result of speculation; and speculation is irrational, little influenced by the fundamentals of the industry. The object of this paper is first to examine the relation between the fundamentals and price. A number of simple models are formulated and some empirical evidence is given to show that prices are not very different from costs. There are good reasons why costs and prices have fallen since 1980. Second, the connection is drawn between the fundamentals and speculation. To do this the concept of 'rational expectations' is defined and applied to a model of the aluminium industry. Then speculation is introduced into the model and the characteristics of the solution are examined. The object is to discover the new factors that determine prices and the basic change in the nature of the solution that is caused by speculation. 2. Prices and the Simple Supply-Demand Model Consider a simple model of the aluminium industry. Demand, D, is determined by economic activity, A, given exogenously, and inversely by the price, P. Supply, Q, is determined by the inverse of the rnarginal cost curve, and so varies inversely with exogenous factor costs, C, and directly with price. Price is determined by the equality of supply and demand. Given the equilibrium level of demand, price in this model is equal to the rnarginal cost of producing the required level of demand, P = MC (Dl. Algebraically, [ ] How well does this simple model explain the change in prices during the last five years? Table I shows the LME cash price and the estimated marginal cost of producing consumption during the second quarters of 1980 through 1985. The figures in the table show that price and the marginal cost of supplying demand both fell between 1980 and 1982, rose in 1983 and by 1985 had fallen again. Only in 1984 is the direction of change different. And during the 1980 to 1985 period, marginal costs fell by approximately $560/tonne while the LME cash price fell by $678/tonne. There is a correspondence between the fundamentals of cost and price over most of the individual years and the period as a whole.

Jan 1, 1986

By Robert Bell

The regions to which this paper refers include the whole of the Dominion of Canada east of the 130 Rocky Mountains and north of the water-shed of the St. Lawrence. Very little exploration for economic minerals has yet been done in this immense country; but that little has already served to indicate great wealth in some localities. Having been engaged for a number of years in conducting government geological explorations in these vast territories, I shall endeavor to give the members of the Institute an idea of the prospective mineral resources of almost half a continent, as far as they are yet discernible. I purpose confining my observations to the economic minerals, and will not attempt a description of the geology of these territories; hut it will be necessary to say a few words about the rocks in order the better to explain the distribution of such minerals. The Laurentian nucleus of the continent is the principal feature of the geological map of the Dominion. It stretches from Lake Superior to Baffin's Bay, and from Great Bear Lake to the Straits of Belle Isle. Hudson's Bay itself, which is half the size of the Mediterranean Sea of the old world, lies in the center of this area. Its shores are bordered in places with newer rocks. On the west side of James' Bay (its southern prololigation) these extend inland over 200 miles, and consist of fossiliferous Devonian and Silurian strata. On the western and northwestern side of Hudson's Bay proper, altered rocks are met with, some of which resemble the gold-bearing strata of Nora Scotia, some the Huronian of Lake Huron, some the older Huronian, and others the crystalline series of the neighborhood of Sherbrooke in the Province of Quebec. Along the east coast (called the Eastmain)and among the islands lying off it, there is an interesting set of volcanic and sedimentary rocks which appears to be identical with the Animikie and the Nipigon series of Lake Superior. The area which I have characterized in a general way as Laurentian, includes tracts and belts, more or less extensive, of the Huronian series. Such areas appear to be most common, and have been best explored, in the country between the Great Lakes and Hudson's Bay.

Jan 1, 1886

By Robert Bell

The Tar-Sands" is the name which has been given to the extensive horizontal deposit of fine Cretaceous sand, blackened by tarry petroleum, which forms the banks of the last or lowest 130 miles of' the Athabasca river before it terminates in Athabasca lake. The Cretaceous strata, to which these sands belong, extend northwesterly from Dakota all the way to this lake and for 500 miles beyond it. The Athabasca river forms the uppermost section of the Athabasca-Mackenzie, one of the great rivers of the world. It rises on the Pacific side of the Rocky mountains, westward of Edmonton, and flows north of east to a point called Atha-basca Landing, 100 miles north of Edmonton, where it turns northward and runs about 280 miles before it falls into the west end of Athabasca lake. The section of this river-system which discharges the lake just named into Great Slave lake, is called Slave river, and below the latter lake it becomes the Mackenzie river. Along the section of 280 miles of the Athabasca river above mentioned, the Cretaceous strata consist of bluish-gray and drab-gray marls, on top, from Athabasca Landing to Drowned rapid, 110 miles down stream; then heavily bedded gray sandstones, 225 ft. in greatest thickness, underlying these, form the banks for about 40 miles further. The strata appear to be horizontal, but they really dip very slightly to the southward. At Drowned rapid, we see the first of the tar-sands resting on almost horizontal beds of bluish-gray limestone of Devonian age. In some places the limestone is associated with shaly or marly bands. Notwithstanding the great hiatus between the two series, the horizontal tar-sands lie conformably upon the almost level upper beds of the limestone wherever the two formations are seen together, all along the river, throughout a

Jan 1, 1908

By Summer S. Smith

The year 1916 broke all previous records of mineral production in the Territory. As a consequence, there has been a noteworthy increase in the number of mines in active operation or under development, though the greater part of the increased output is the result of greater activity at mines already producing rather than of opening new mines. Owing to available funds not being sufficient to meet the cost of travel in the interior of the Territory during the winter months, the Federal mine inspector was unable during the spring to visit the placer mines of the interior as has been his custom in the past. However, by working in close cooperation with the Territorial in- spector, who left Juneau in June to take the first boat down the Yukon to Fairbanks after the spring break-up, it was possible to visit hurriedly all the larger mining centers of the Territory. The Territorial inspector covered the districts from Fairbanks to Nome and the Federal inspector covered those of southeastern and south- western Alaska. A number of applicants have begun mining coal on ground held under free-use 10-acre permits, and have furnished coal for local use. The larger leasing units in the Bering River and Matanuska coal fields have been advertised and applications for leases have been submitted. These applications came too late in the fall for active development to begin before the end of the year. The Government railroad has been built from Anchorage to the center of the Matanuska coal field, and private interests have under- taken the building of a standard-gage road from a point known as Goose City on Controller Bay to Canyon Creek, in the Bering River field. Capital has become interested in the oil fields on Controller Bay, and plans have been made for more active exploration and production. The work of the Federal mine inspector is still handicapped by the lack of funds for additional field assistants and of the office ac- commodations necessary for carrying on the work with the efficiency that its importance warrants.

Jan 1, 1917

By C. H. Hitchcock

The puiblication by the Institute of a small geological map of the United States calls for an explanation of its peculiarities. The title intimates that it is intended "to illustrate the schemes of coloration and nomenclature recommended by the International Geological Congress." By way of further explanation it is said to be "based, by permission of the Director of the United States Geological Survey, upon the map published in his Fifth Annual Report, the portions not colored in that map being here supplied from other sources." The map referred to was prepared by W. J. McGee, and in the text of the report containing it he has given a list of the authorities employed in the compilation. The scheme of coloration used for the map was the one proposed by the Director, in the Seeond Annual Report, for the publications of the United States Geological Survey, which differed materially from those employed by the older American geologists. Because of the increasing diversity in the particular colors employed to represent rocks by geologists in different countries, and of the existence of very dissimilar schemes of nomenclature, it seemed best to the American Association for the Advancement of Science, at its Buffalo meeting in 1876, to appoint an international committee of geologists, who should consult together, and, if feasible, to call an International Congress to discuss these subjects. The proposition met with favor, and the meeting was called. The first session was held at Paris, in 1878, when geologists were present from twenty different countries. Once organized, the Congress has perpetuated itself, enacting regulations for its conduct, choosing the French language for its medium of communication, and arranging for the compilation of a geological map of Europe upon which the perfected schemes of coloration and nomenclature will be delineated. The American Association maintains a standing committee to represent it at the international sessions, and to report their proceedings. Sixteen countries were represented at the second Congress, at Bologna;

Jan 1, 1887

By Hans W. Schreiber

INTRODUCTION At the end of the day, the decision by the sponsor to proceed with a project and to seek financing, or the decision by the financier to grant financing are made on a judgmental basis. Cash flow projections, sensitivity and risk analysis, the innumerable ratios applied by the financier, the so-called feasibility study, etc. are all only tools, and the degree to which they affect decisions is as highly varied as are the personality differences and business conduct and outlooks of the persons who render the decision of "go or no-go". The independent consultant, then, is expected to provide an additional increment of credulity and/or reliability to the "tools" which others will use in reaching a decision; the consultant is really not in a position to directly recommend a "go or no-go". PROJECT FINANCE INGREDIENTS The project finance situation has basically three ingredients: - The project; - The inherent risks attendant with project failure; - The parties. The project, to be viable for financing, will have certain essential characteristics, namely: 1. Clear title or rights to the mineral; 2. Proven definition/establishment of mineral quantity; 3. Financial viability; 4. Physical access consistent with financial viability; 5. A market for the product at a price and for the quantity consistent with financial viability; 6. Transportation/shipping from the project facility to the market at a cost consistent with financial viability; 7. Availability and demonstrated expertise of the developer of the facility; 8. Demonstrated expertise of the operator of the facility; 9. Production processes do not involve unproven new technology; 10. Availability of management personnel; 11. The property and the facilities have value (and thus can be used as collateral); 12. Government approvals/support, as required, will have been obtained; 13. The political environment is essentially friendly and stable; 14. The owner(s) of the project have the financial, strength to make equity contributions consistent with total required investment capital and project risk; 15. Backing by credit support other than that of the financier (i.e. guarantees); The inherent risks of failure are (Nevitt, 2nd Edition); 1. Completion delays with consequent delays in the generation of revenue 2. Cost overruns 3. Technical failure 4. Financial failure of contractors 5. Government interference 6. Uninsured losses 7. Increased price or shortages of raw materials, supplies 8. Technical obsolescence 9. Loss of competitive position in the market place 10. Expropriation 11. Inadequate/poor management The parties directly or indirectly integral to the project financing are: - The mineral rights owner - The developer - The operator - The equity investor

Jan 1, 1985

By R. W. Raymond

I DESIRE to call the attention of the Institute briefly, and by no means in the way of an exhaustive description, to the interesting developments recently made on the east bank of the Hudson River, in the mining of spathic iron ores. The mines to which I refer are those of the Hudson River Spathic Iron Ore Company, situated at Oakhill on Hudson, Columbia County, N. Y., five or six miles from the city of Hudson, and opposite the town of Catskill. The ore occurs in beds, constituting apparently members of the stratified series of rocks on that side of the river, coursing nearly north and south, parallel with the river, and dipping east. The principal outcrops are presented in a range of low hills, about one mile from the river, along the crest, on the western face of which the stratum of spathic ore is more or less exposed. The length of the line in this range, along which, at various openings the ore has been discovered in profitable quantity, is about two miles. To the northward, the hills are somewhat higher, and the stratification may possibly be disturbed, though the rapid examination of the locality which I made in November last did not, include any determination of this

By R. W. Raymond

THE question, what is the best proportion among weight, fall, and speed of stamps, is one which has not yet received thorough and systematic examination. In considering the economical application of stamping machinery, we meet, at the beginning, with serious difficulties in obtaining accurate data for comparison. The weight and fall of stamps vary as the shoes and dies wear out; and this may lead to a change of speed also. Moreover, defects in engines, boilers, or machinery for the transmission of power, may occasion serious losses, which cannot fairly be charged to the arrangements of the stamps proper. Again, the capacity of stamp-mills is directly dependent, in some degree, upon the nature and extent of discharge, fineness of screens, and other peculiarities of the battery. Finally, the hardness and tenacity of the rock crushed varies so much that comparisons between different localities cannot be implicitly trusted. The safest experiments are those made in the same mill, by changing first one and then another condition of working; but this is seldom possible for such conditions as weight and lift of stamps, and only within narrow limits for their speed. We may eliminate questions of friction, transmission, and generation of power, in the case of stamps, by measuring the power actually developed by their fall. Thus, the weight, multiplied into the fall in feet, and the number of drops per minute, gives us exactly the number of foot-pounds exerted by each stamp. Dividing by 33,000, the number of foot-pounds per minute in one-horse power, we have the horse-power per stamp, from which the effective power of the whole mill may be obtained. Dividing the amount of rock crushed daily by the effective horse-power, gives us the daily amount per horse-power; and this is the best measure that can be obtained for the effectiveness of the stamps. A complete discussion of the subject would require us to determine the exact influence of the discharge, etc., and the exact resistance offered by different classes of rocks, for both of which points the data are wanting. Professor J. D. Hague, in the third volume of the United States Geological Exploration of the Fortieth Parallel, gives a valuable

Jan 1, 1873