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By JAMES SCULLY

For the last 4 years political leaders have found a new subject on which they can safely generalize wihout creating opposition. That subject is commodity prices. Since the four-fold increase in OPEC crude oil prices, public attention has focussed as never before on the subject of commodity prices. To advocate stabilizing commodity prices is akin to supporting motherhood or peace or better schooling. Everyone gives lip service to the concept that stable commodity prices are desirable. It is easier to state the principle than to achieve it. Prices that are stable in terms of one currency may be clearly unstable in terms of a different currency. This has become a troublesome matter since 1971, when the world's leading trading currencies were set free to float in relation to each other. To illustrate: consider copper prices in the interval between the end of 1974 and the end of 1977. During those 3 years, the copper price in pounds sterling on the London Metal Exchange rose by 25 per cent. During that period, however, in terms of the USA dollar equivalent, the price was unchanged. And during that period, in terms of the German mark equivalent the price shrank by 13 per cent while the Japanese yen equivalent fell by 20 per cent. Thus a price that appears stable in dollars, rose in terms of pounds sterling and fell in terms of marks and yen. Had this result been achieved as a consequence of an international effort to stabilize prices, an American would have said the effort was successful. An Englishman would have said it had failed to prevent a price rise. And a German or a Japanese consumer would have been happy to have covered his copper needs at a lower cost in terms of his own currency.

Jan 1, 1978

By Richard Rice

TURBO blowers for blast-furnace blowing have now been in use for some years, and a review of the experience gained and the present state of progress may be interesting. FIG. 1.-STEAM TURBINE DIRECT CONNECTED TO AIR COMPRESSOR. The first blast-furnace blowing engine of this type to be installed in America was built by the General Electric Co. and is installed at the oxford Furnace of the Empire Iron & Steel Co. This machine was put into operation March 8, 191.0. A duplicate unit is situated at the furnace of the Northern Iron Co. at Port Henry, N. Y., which unit was put into opera ion June 30, 1910 (Fig. 1).

Jan 5, 1914

By Alan M. Bateman

POSSIBLE postwar trends of the more important world minerals will be determined in part by their present world position and by the acts and forces that have operated during the war period, so it is desirable first to review briefly what has been happening in the foreign field of metals and minerals. When we first entered this war we of the mineral profession were all acutely conscious of our lack of strategic minerals and other materials, which had to be imported in great quantities-minerals such as manganese, chrome, tin, mercury, nickel, and antimony. But we realized also that we had to acquire vast quantities of those minerals of which we had thought we were bountifully supplied. Our assumed domestic abundances turned out to be woefully deficient, and demands also arose for new minerals never before produced in large quantities. Some threescore minerals entered the strategic list of our imports. Ores from new sources had to be sought, developed, and transported. Tonnages in the millions of such bulk materials as zinc, lead, copper, chrome, and manganese flowed to feed our war efforts. Sparsely distributed minerals such as tin, mercury, antimony, tungsten, cobalt, mica, and corundum had to be lured from their rock lairs in greatly increased quantities to feed the hungry maw of war industry, and the rare minerals such as tantalite, columbite, beryl, and quartz crystals had to be developed and procured in quantities never before dreamed of. New uses such as radio and radar created demands for many minerals formerly thought of only as adornments of museum collections and not as pressing industrial minerals. Such minerals were never before mined in quantity.

Jan 1, 1945

By Carroll Forbes

INTRODUCTION MANY different shapes of drill bits are in use with hammer drills, but little definite information is available whereby to judge which one of these shapes is the best. The following investigation was undertaken in order to determine what effect, if any, the shape of the cutting edge has on the cutting speed and wearing qualities of drill bits. The bits tested were those in common use, namely, the 4-point or cross bit, the 6-point bit, the Z bit and the "Carr" bit. The rock in which the tests were made was the red granite from southeast Missouri. It is a coarse crystalline granite containing an unusually large amount of quartz and is extremely hard, and on account of its uniform texture is admirably adapted to this work. While tests in other rocks might show somewhat different results, nevertheless it is the opinion of the authors that the relative cutting quality inherent in the shape of the bits would be the same in all rocks. Other qualities, such as mudding freely, freedom from fitchering, etc., might make one bit more desirable than another in softer rocks. DESCRIPTION OF BITS TESTED The 4-point bits were the usual shaped bits commonly made on the Leyner sharpener with 14° taper on the wings and a 90° angle between cutting edges. Some tests were run at 85 lb. pressure with a 4-point bit made with a 5° taper on the wings. This was made by using the Carr bit die. The 6-point bits were the usual shaped hits made on, the Leyner sharpener. The Carr bits were made with a 5° taper and an angle of 100° between cutting edges.

Jan 8, 1917

By George Comstock

IT seems a common opinion among metallographists that all light-gray inclusions seen with the microscope in polished sections of steel are manganese sulphide. Examples of this belief are continually appearing, as for instance in the paper by Dr. Henry Fay on manganese sulphide as a source of danger in steel rails,1 and in Lieutenant-Commander Cook's paper on Metallography of Steel for U S. Naval Ordnance.2 Slate FIG. 1-TRANSVERSE VIEW OF THE EDGE OF A SMALL HOT-ROLLED STEEL ROD. ETCHED WITH PICRIC ACID. X 200. colored inclusions are considered to be silicates, and dove-gray inclusions, manganese sulphide. To show the danger in the latter unqualified assumption, it should be sufficient to examine the edge of any piece of steel that is covered with a fairly thick scale, and that has been polished in such a way as to prevent the scale from breaking away entirely below the polished surface. This can be done by protecting the scaled edge of

Jan 12, 1916

By F. Petkovich, M. P. Sudbury

Development of a new method of treating flotation concentrates for the preparation of feed suitable for direct charging to blast furnaces or converters is described. The method takes advantage of the fact that pyrrhotite contained in the concentrates can be made to undergo exothermic reactions which, under properly controlled conditions, result information of oxidation products that serve to cement the concentrate particles together. Thus green concentrates either in the form of pellets or briquettes containing 5 to 8 pct moisture not only were hardened, but also completely dried autogenously by continuous countercu,vrent shaft treatment with air. The process was developed through pilot plant operations ranging from 35 1b per hr to 2.5 tph, culminating in products evaluation tests on a railway-car scale. Falconbridge Nickel Mines Ltd., Falconbridge, Ont., have practised sintering, on a travelling grate machine, for many years to prepare a pyr-rhotite-bearing Cu-Ni sulfide flotation concentrate for blast furnace smelting. In recent years the development of new mines, and the construction of concentration plants some 40 miles from the smelter has increased the quantity of concentrate shipped, and encouraged the search for a method of producing dry, hard pellets or briquettes suitable for direct charging to a blast furnace or converter, and capable of withstanding considerable handling. The cementing properties of pyrrhotite oxidation products were discovered during a search for a suitable agglomeration method for sulfide concentrates, and were exploited in a process subsequently developed for autogenously drying and hardening pellets and briquettes of pyrrhotite-bearing Cu-Ni sulfide flotation concentrate. EARLY TEST WORK The production of hard, dry pellets of concentrate filter cake was attempted in the drying plant of one of the new concentrators. While soft pellets were produced containing 5 pct moisture, attempts at further drying resulted in disintegration of the pellets and intolerable dusting. The plant therefore was controlled to produce a concentrate containing about 6 pct moisture. The partially dried concentrate, which was shipped to Falconbridge for sintering, tended to heat spontaneously in transit. An at- tempt to briquette the moist concentrate at Falconbridge, in a plant incorporating a muller, a 20-in. roll briquetting press, and a steam-heated travelling grate oven, was more successful, although the equipment corroded rapidly due to the acid nature of the concentrate after spontaneous heating had occurred. LABORATORY STUDIES OF SPONTANEOUS HEATING OF CONCENTRATE The spontaneous heating of partially dried concentrate was studied in the laboratory. Moist concen-

Jan 1, 1961

Aamot, Olav Crone, Chem. Engr., Norsk Elektrokemisk, Kongensgt. 18, Olso. Norway. '29 Abadilla.-Quirico A., Dir., Bureau of Mines Manila, P. I. '38 Abbott, Clarence E., V.P., Charge of Raw Materials, Tennessee Coal, Iron & R.R. Co., 1212 Brown-Marx Bldg., Birmingham, Ala. '04 Abel, Raymond L., Prof., Dept. of Pet. Refin., Univ. of Pittsburgh Pittsburgh, Pa. '29 Abel. Walter D., Cons. Engr 1839 Holmby Ave., W. Los Angeles. Calif. '32 Abele, Louis T R. F. D. 5. Susquehanna Trail, N., York. Pa. '31 Abell, Leo M., Ore Dressing Investigator, School of Mines Adelaide, S. Australia. '31 Abenius. Hakan V., Mine Supt., Bolidens Gruvaktiebolag Boliden, Sweden. '37 Aborn, Robert H., Asst Met., Research Lab., U. S. Steel Corp. Lincoln Highway, Kearny, N. J. '19 Abraham, W. E. V., East India United Service-Club, 16 St. James' Sq., London, S. W. 1, England. '28 Abrams. Charles Jackson 1624 17th St., Denver, Colo. '36 Abstein, Henry T., Engr. & Mgr., Profile-Tamarack Mines Co Yellow Pine, Idaho. '27

Jan 1, 1938

By William H. Spice

Drilling activities in South Central Texas for the year 1945 continued the steady increase over the past two years, while new fields discovered for the year included four new gas fields and one field extension. In the 30 counties included in this area, which comprises district No. 1, Oil and Gas Division, Railroad Commission of Texas, 141 exploratory wells were completed, compared with 61 drilled in 1944 and 29 drilled in 1943. Of these 141 tests, 55 were field well and 86 were wildcats; 38 were completed as oil wells, S as gas and gas-distillate producers, and 95 were abandoned as dry. Atascosa and McMullen Counties were the most active in the district, accounting for 73 of the wells drilled.

Jan 1, 1946

By Sumner M. Anderson

Any discussion of outside support to Latin American mineral industries must concede at once the pre-eminent role of U. S. industry and business. American capital has developed the great copper resources of Chile and Peru, the lead-zinc of Peru and Mexico, the bauxite of Surinam and Jamaica, the petroleum and iron ore of Venezuela. American consumers have provided the market for their products. U. S. companies operating south of the border have trained Latin American geologists, engineers, chemists, and skilled labor—including metal, mineral, and fuel technicians—to new and greater competence. The industrial demands of World War II drastically altered world economics and concepts of U. S. foreign mineral requirements. In this country discovery of vital mineral resources fell far behind the alarming depletion rates, and there was new appreciation of the actual and potential importance of the world's less extensively explored areas. During the war and afterward, the task of supplying the nation's mineral requirements became greater than private industry could carry alone, and the Government assumed a position of continuing support. In Latin America, as elsewhere, this support applies in three categories: banking, procurement, and technical assistance. The first two are now generally accepted as necessary Government functions; the third has often been misunderstood and misinterpreted, although it has given rise to legitimate controversy. There have been major accomplishments in all three categories, as well as some errors of judgment. Since the beginning of World War 11, U. S. Government financing, procurement, and technical assistance have been applied on a large scale to a wide range of commodities and services throughout the free world. The present discussion—under the separate headings mentioned—will concern only the support related to a single industrial group in a single geographic area. During the War Federal banking was conducted on an emergency scale by temporary agencies created to meet the abnormal circumstances. Unfortunately, there are no readily available data on these activities that would permit evaluating loans and credits extended for mineral projects in Latin America. The only agency operating in this field since World War II is the Export-Import Bank, under its own authority and to some extent from credits authorized by the Office of Defense Mobilization. The Bank can offer more capital—on more favorable terms—than is available from most Latin American banks, and its staff of engineers evidently can appraise loan applications more favorably than commercial banks in this country are willing to do. The risks seem to be justified, as defaults have been well under 1 pct of total loans. From V-J day 1945 to the end of 1957, mineral loans to Latin America have been authorized for projects totaling $541.63 million in eight countries. In order of magnitude of credits, they have been made to Brazil, Peru, Chile, Mexico, Argentina, Venezuela, Guatemala, and Bolivia. In order of magnitude by industries. they are for development and expansion of steel mills, copper, manganese, nitrate plants, iron ore, zinc plants, sulfur plants, cement plants, tungsten, coal, and lead. Loan Distribution: By far the largest loans have been $307.9 million for iron and steel projects in Brazil, Chile, Mexico, Argentina, and Peru: $100.4 for developing the great low-grade copper deposits of southern Peru; and $55.3 million for developing manganese deposits in the Territory of Amapa, Brazil. Others range from $20.8 million for a zinc smelter in central Peru to $19 thousand for iron-mine trucking equipment in Chile. It has been noted that 59 pct of the loans have been to foreign companies, 14 pct to companies of mixed foreign and American capital, and 27 pct to American mining companies. About 40 pct of the total authorizations has been disbursed so far. In addition to these amounts, the Strategic Materials Division of the Economic Cooperation Admin-

Jan 1, 1959

By A. B. Parsons

Jan 1, 1971

By R. H. Winn

A method for the selection of the most suitable corrosion inhibitor for a particular system is given. The method involves the evaluation of surface passivity by means of copper ion displacement after the metal surface has been subjected to the corrosive atmosphere. The application of the method to the selection of suitable inhibitors for use in producing wells is described. Correlation with recognized laboratory tests has beet1 found to be good within the limitations of the test. The use of the test to evaluate inhibitor persistencc is described. INTRODUCTION Corrosion as it is associated with the industry shows wide variations in its qualitative as well as its quantitative aspects. This complicates the work of the corrosion engineer. In the past few years the efforts of the corrosion engineer have been further taxed by the large numbers of products being marketed as corrosion inhibitors by various manufacturers. These products are submitted to him together with a limited amount of data to support their use as inhibitors. The data are usually authentic and reliable yet all too often when these products are applied to an actual corrosive system the results are disappointing due to the ineffectiveness of the inhibitor and the corrosive system. The corrosion engineer must select a comparatively limited number of inhibitors for field trial from the large number available. The selection is usually made on the basis of a standardized laboratory test such as that adopted by the National Association of Corrosion Engineers or by field experience in an area; however, testing of this type is discouraging on large numbers of compounds, particularly in view of the specificity of environment. It has been an object of this work to devise a method which will allow the corrosion engineer to select the best inhibitor for a specific environment under field conditions. The test would of necessity be rapid and inexpensive. It would preferably eliminate the need for expensive and delicate instruments. STATEMENT OF THEORY The test as developed makes use of the fact that metal ions will be displaced from solution by metals having a more positive electrode potential. Thus, if an active iron surface is exposed to a solution of a copper salt, free copper will plate spontaneously on the iron surface as it is displaced from the salt solution by iron ions. If the iron surface is passified, as by coating with an insulating-type organic corrosion inhibitor, it is no longer capable of displacing the copper ions due to its own limited ionization. The result will be a change in the amount of copper plated upon exposure to a neutral copper salt solution. In practice it has been found possible to measure the magnitude of the alteration of the cell potential by determining the copper deposited on a standard iron surface under controlled conditions. This means that, as the film builds up, the resulting shift in the electrode potential tends to cause the iron surface to act more like a noble metal, resulting in a reduction in the cell potential to a point that copper will no longer plate spontaneously. Obviously, the salts of other metals such as silver, gold or platinum might be used for this operation; however, copper was selected because of the color difference of the plate, the comparatively low cost of copper salts and the ease of evaluation of the plated copper. Furthermore, its high cell potential provides a substantial driving energy. The determination of the copper is readily done colorimetrically by dissolving it in 5 per cent ammonium hydroxide solution containing 2 per cent potassium per-sulfate. The blue color of the copper ammonic complex ion so developed may be compared with standards prepared by dissolving known quantities of copper powder in the same reagent. In routine screening it is seldom desirable to determine the amount of copper plated. It is usually more important to determine the concentration of inhibitor required to prevent the plating of copper.

By Curtis Wilson

FROM the results of his investigation of the hardenable copper-nickel-silicon and copper-cobalt-silicon alloys, M. G. Corson1 explained the dispersion-hardening effect by assuming the precipitation of the inter-metallic compounds nickel silicide and cobalt silicide, and on this basis he constructed diagrams for the pseudobinary systems copper-nickel silicide and copper-cobalt silicide. A consideration of these diagrams and of the factors that exert such an important influence upon the rate of precipitation, such as degree of supersaturation, nucleus number and rate of diffusion, leads to the expectation that the rate of precipitation of the silicides on reheating the quenched solid solutions at temperatures below the alpha-phase boundary should increase continuously as the reheating temperature is raised. The present investigation shows that while this rate does increase with the reheating temperature in a general way, it does not do so continuously. Supplements to Corson's diagrams are offered, showing the discontinuities, and slight modifications in the solubility curves are suggested.

Jan 1, 1933

By George A. Roche

Investment in growth stocks is the most assured way of achieving superior, long term investment accomplishment. There are many criteria used to select growth companies but the most important is a combination of superior management operating in an industry with above average growth potential. This growth stock approach is the cornerstone of investment strategy for two of the three mutual funds sponsored by the Price organization and for its private clients. However, during the past five years inflation has accelerated due to a variety of factors including the inability of government to meet seemingly unlimited needs with limited revenue sources.

Jan 4, 1972

By Edward C. Stephens, Robert R. Coats

High-grade copper ore was discovered in 1932 in the long-dormant Mountain City (Cope) mining district, Elko County, Nevada. From 1932 to 1947, the one producing mine in the district, the Mountain City Copper Mine, produced 1,109,878 short dry tons of ore averaging 9.745 per cent copper, 0.274 ounces of silver, and 0.0057 ounces of gold per ton. The Mountain City Copper Mine is developed in eugeosynclinal rocks of Ordovician age, the Valmy Formation, which is part of the upper plate of the Roberts Mountains thrust. On the Valmy were deposited unconformably first, a elastic formation of Devonian or Mississippian age, the Grossman Formation, succeeded unconformably by a ·sequence of three conformable formations, the Banner, the Nelson, and the Mountain City. The Banner Formation probably is early Late Mississippian in age; the ages of the Nelson and Mountain City are not known precisely but are believed to be of Late Mississippian and Carboniferous(?) age, respectively. A thick formation of elastic rocks, limestone, and volcanics, the Reservation Hill Formation, has been thrust over the Mountain City. The age of the Reservation Hill is unknown but is presumed to be Pennsylvanian(?) and Permian(?). Several plutons of Cretaceous quartz monzonite intrude the Paleozoic formations; they and the intruded formations have been laid bare by erosion, and several sequences of volcanic rocks of Miocene and Pliocene age, and perhaps in part older, have been successively deposited on irregular erosion surfaces. The primary mineralization of the Mountain City Copper Mine is believed to postdate the deposition of the Nelson Formation and to predate the intrusion of the quartz monzonite. The primary ore bodies are lenticular in shape and are composed largely of quartz, pyrite, and chalcopyrite. The ore lenses, in general, strike northwestward and dip northward. They occur in the Valmy Formation within a definite stratigraphic sequence composed largely of shales with associated minor quartzite lenses. The ore is epigenetic. The principal ore body, the "200," was completely leached to the 200 level. Abruptly beneath the barren gossan was supergene copper sulfide ore, much of which assayed 50 per cent copper. The secondary copper minerals are sooty and massive chalcocite, bornite, and covellite. The supergene enrichment of the ore may have required a large part of Tertiary time.

Jan 1, 1968

By Claude P. Heiner

While the title of this paper embraces the entire West Coast, the author, in the interest of simplification. has confined the discussion to California-particularly the central section. California's population has, risen 45 pct since 1940. Its electric requirements have also increased, not only because of the growth in industry and population but also because of the widespread tendency of all types of electric consumers to use more electricity than ever before. The growth of California's electric utilities is shown by published data covering operations, of three of its large systems and is given in Table 1.

Jan 1, 1949

By ALBERT F. J. BOARDEAUX

(Canal Zone Meeting, November. 191(j.) I. GENERAL INTRODUCTION. 1. Historical. ALLUVIAL gold was first discovered in Guiana in 1852, in the sands of the Arataye river; by Paulino, a Brazilian convict. During the following years, gold was found also in the rivers Orapu, Cirubé, etc. In 1873 the famous placers of the Sinnamary system were opened: Saint-Elie, Dieu-Merci, Adieu-Tat, and Couriége. This group of mines has produced nearly $10,000,000, according to official records, not including the gold that escaped the taxes. The discoverer was a mulatto named Vitalo. Except in a few rich spots, the gold was rather evenly distributed along the creeks. In one instance, gold was found in the red dirt from the slope of a hill, which, after transport to the creek, gave an amount of 150 kilograms. The placers of the Mana system, Enfin, Elysée, Pas-Trop-Tot, date from 1878, and their production has been about $5,000,000. In 1888, the Awa placers, along the boundary between the French and Dutch Guianas, on the Maroni and its tributaries, were discovered. They have yielded $12,000,000. The only industrial company,, the Dutch Guiana French Mining Co., produced in 15 years about 2,500 kg. of gold, worth $1,500,000. From 1893 dates the famous Carsewene discovery, in territory then in dispute between France and Brazil. A settlement was made recently in favor of Brazil, by arbitration of the Switzerland State Council. Carsewene is said to have pro-duced about $18,000,000 in six years (1894-1900), but not even one-fourth of the production went through French Guiana and

Nov 1, 1910

Organization Place Date 1917 American Institute of Architects Philadelphia., Pa. Dec. 26-29 American Society of Mechanical Engineers New York City. Dec. 4-7 American Mining Congress State Chapter Phoenix, Ariz. Dec. 26-29 1918 American Society of Civil Engineers New York, N. Y. Jan. 22-25 American Institute of Mining Engineers New York, N. Y. Feb. 18-21

Jan 12, 1917

By L. Moyd, P. Moyd

The first commercially available portable gamma ray-neutron beryllium detector, the Rerylometer, was developed by the same group that developed the first practical portable scintillation counter, the Scintillo-meter. This group includes Professor George Brownell, of the Geology Department of the University of Manitoba in winnipeg, and his associates, K. I. Roulston, R. w. Pringle, and R. L. Funt, of the Physics and Engineering Departments of the University of Manitoba. A prototype model was tested in the field by Dr. Brownell during the summer of 1958. Commercial production was undertaken shortly thereafter by Nuclear Enterprises Ltd., of Winnipeg, and a license for manufacture and distribution in the U.S. was granted to Isotopes Specialties Co., of Burbank, California, a division of Nuclear Corporation of America. Early in 1959, we were retained by the 'Mining Division of Minerva Oil Co. to Legin a search throughout North America for minable deposits of beryllium, and to train members of their permanent staff to continue the program. The project included literature sur-veys, interviews with members of various federal, state, and provincial agencies, scanning of our own collection of suites of specimens from various mineral occurrences, and the examination of deposits in the field. The value of a beryllium detector to this program was obvious and arrangements were made to procure one as soon as possible, which resulted in our obtaining and using the first instrument that was produced commercially in the U. S. In addition to the commercially available Berylometer, Mr. William Vaughan and his associates, of the U. S. Geological Survey Geophysics Division, in Denver, have developed and tested several experimental instruments based on the same principles. DETECTOR Principles The detection of beryllium is based on the fact that "hard" gamma rays (1.6 MEV and geater), such as those produced by Antimony convert ordinary beryllium (Be9) to Be8 , with the release of a neutron. The neutrons are counted by a scintillator designed to favor neutron responses while suppressing those of gamma rays. 'The instrument is completely selective for beryllium. No other element can interfere. Instrunlentation The Rerylometer itself, which is cylindrical, is about 8 inches in diameter, 13 inches high, and weighs about 11 pounds. (Figs. 1, 2). The principal components include: 1. A disc of wax to moderate (or "thermalize") neutrons. 2. A boron-enriched polyester-zinc-sulphide fluorescent screen. This material produces strong flashes when struck by thermalized neutrons but only weak flashes from gamma rays. 3. A photomultiplier tube. 4. An electronic circuit, complete with one srnall 71/2-volt dry battery. The photomultiplier tube and electronic circuit convert neutron flashes to electrical impulses, but gamma ray effects are almost

Jan 1, 1961

By L. B. Slichter

Prospecting is certainly the world's biggest and best gambling business. It is a game where the chips cost many thousands and where many millions, even billions, can be won. An attractive feature of this gamble is the fact that the players are free to rig the odds as favorably as possible. Only the limited bounty of nature, the restrictions of the laws of the land, the competition from other players, the limited sagacity of the player himself— only these, and other factors, restrict the possibilities for large winnings. Today probably about half the land surface of the earth remains to be searched for signs of ore visible at the surface. It is fortunate that so much land still remains for exploration by relatively economical methods. Looking to the future, it is a good guess that the costs of finding ore will increase in response to increasing technical difficulties. To continue to achieve profits from prospecting, it will become necessary to analyze the business more skillfully, in a more and more sophisticated manner. Whenever feasible, qualitative concepts must be replaced by their quantitative equivalents, improvements, and extensions. THE GAMBLE The fact that prospecting is a gambling business reminds us at once of the elementary rule known as the law of gambler's ruin. I hesitate to mention so simple a rule in this company of experts. This rule expresses the rather serious chance of going broke when the odds for success are small, merely by a normal run of bad luck regardless of the long-run expectations of gain. The only sure way of avoiding this special risk of gambler's ruin is to have enough capital, and the will, to continue the play many times and thus ride out the inevitable runs of bad luck. For example, if the probability of success is one in ten for each venture, there is a 35 pct chance that ten successive ventures will fail in a row. But if one has the capital to continue the play through a run of 100 failures, then the chance of gambler's ruin is only 5 in 100,000. Almost any management, I suppose, would be under terrific pressure to cease the play during a long run of bad luck. To continue to prospect under such circumstances requires great confidence in the premises, and a firm conviction in the long-term expectation of profit. There is evidence which I shall mention that in the future even the strongest companies may not have the necessary capital to prospect on the ideal scale. Joint ventures will be very desirable as a means for extending the available venture

Jan 1, 1961

By L. E. Fish, G. S. Wyman

CHUQUICAMATA open-pit mine is capable of producing a total of 105,000 tons daily. When the sulphide plant is operating to capacity the distribution of this quantity will be approximately 30,000 tons sulphide ore, 30,000 tons oxide ore and 45,000 tons of waste. At that time the combined capacity of the oxide and sulphide plants will be about 540 million lb of copper per year. Twenty one benches have been opened to date and all are still active except the three top ones at the northeastern limit of the pit. These have been pushed back to final slope line. The pit is 8850 ft long, 3540 ft wide and 980 ft deep. Benches are not all developed to a standard height as the large development shovels used in cutting new benches have been of different size and range. At this time new benches 521 ft high are being developed with an' 11-yd shovel. Ore haulage through the greater part of the pit operation has been on down grades to the crushing plant. With the opening of bench F-4 in April 1944 the first adverse-grade ore haul was encountered. Of the total tonnage now being mined, 35 pct comes from the four benches that are below the level of the crushing plant yard. Waste had been dumped on the same or nearly the same level as the bench from which it was removed up to the opening of bench F-4. Waste from this and lower levels is hauled to the level of the crusher, yard where it must cross the flow of ore traffic to reach the only available dumping space to the east of the mine. The average ore haul is 3.13 miles one way shovel to crusher, and the average waste haul from that portion handled by railroad is 3.32 miles one way from shovel to waste dump. Waste that is being removed by truck haulage from the upper part of the -mine is hauled an average of 1 mile. Ore loaded by trucks is hauled 3/4 mile to a car loading ramp and then by rail to the crushing plant. Drilling and Blasting There are two types of development for blasting being used: One for opening new benches and the other for bank shooting. The former consists of 9a in. diam churn-drill holes drilled 11.8 ft center to center in rows 10.2 ft apart with the holes staggered in the rows thus giving an equilateral-triangle pattern of 11.8 ft on a side. After the first block, 492 ft long by 71.5 ft wide, is shot in the pattern described above, the cut is advanced by smaller shots consisting of four rows of holes spaced 23 ft center to center with the rows 23 ft apart. These shots are fired in conjunction with side shots in which the holes are drilled 33 ft center to center and 29.5 ft back from the toe, thus squaring up the bank for subsequent shooting. An average bank shot consists of about 60 holes drilled in two rows parallel to the face, 30 holes to

Jan 1, 1952