Search Documents

By H. H. Klepfer, K. J. Gill, P. Chiotti

SOME observations relative to the U-Zn system have been made by other investigators. Chipman1 and Carter2 have reported the preparation of several U-Zn alloys and point out that these alloys are generally difficult to prepare. Chipman1 reported evidence for a high melting compound at about 90 atomic pct Zn and the possible existence of a eutec-tic between the compound and uranium. Raynor," in a theoretical discussion of the alloying properties of uranium, included zinc among the elements predicted to have little or no solubility in a, p, or y uranium. In the present investigation, thermal analyses, X-ray, metallographic, and vapor-pressure data were obtained to determine the phase boundaries. The relatively high zinc pressure over most of the alloys at temperatures of 900 °C and above proved troublesome and special techniques had to be employed in preparing suitable alloys. Materials and Preparation of Alloys The metals employed in this investigation were Ames Laboratory biscuit uranium containing less than 500 ppm total impurities and Bunker Hill slab zinc or Baker Analyzed reagent granulated zinc, both with a purity of 99.99+ pct. Due to the high vapor pressure of zinc and the high reactivity of both uranium and zinc with oxygen at only moderately high temperatures, alloys were prepared in closed containers which had either been evacuated or evacuated and filled with helium. High purity magnesia, magnesia containing 10 pct calcium fluoride, and tantalum proved to be suitable crucible materials. Tw-o different procedures, described below, were used to prepare alloys, the latter being the most satisfactory. The metals, uranium turnings and granulated zinc, were cleaned with dilute nitric acid, rinsed, dried, and placed immediately in a helium-fill'ed dry box. The two metals were placed' in a 10 mil Ta crucible. The charge was enclosed in the tantalum crucible by welding on a preformed tantalum cap. This assembly was enclosed inside a stainless steel (AISI 309) bomb. The bomb was made by welding a piece of stainless steel plate on each end of a stainless steel pipe. All these operations were carried out in a helium atmosphere. These assemblies were heated in a muffle furnace at temperatures between 1100" and 1200°C for 10 to 15 min or held as long as 15 to 20 hr in the 950" to 1000°C temperature range before quenching. Spectrographic and chemical analyses showed no tantalum pickup by the alloys, indicating no reaction between the alloys and the crucibles. However, some of these crucibles failed, probably due to imperfections in the welds of the stainless steel or tantalum crucibles. The second and most satisfactory method was to prepare the alloys by powder metallurgy techniques. The procedure was to press degreased and acid-etched uranium turnings with granulated zinc into 20 g compacts under 20,000-psi pressure. The compacts were placed in MgO crucibles, and sealed in evacuated Vycor or fused silica tubes. The alloys were then heated as long as two weeks at about 550°C in a muffle furnace. The pressed compacts were observed to expand by several volume percent during heating and it was necessary to make allowances for this expansion in order to avoid breaking the crucible and Vycor tube. This method was found very satisfactory for preparing alloys which were suitable for thermal analysis or vapor pressure studies. Experimental Methods and Results The phase diagram for the U-Zn system at 1 atrn pressure, shown in Fig. 1, is based primarily on vapor pressure measurements and on thermal analysis taken at temperatures below 950°C. Fig. 2 shows the U-Zn diagram at 5 atrn pressure, constructed on the basis of thermal analysis of alloys in sealed containers up to 1150°C and on the basis of metallographic, X-ray, and analytical data. The alloys sealed under vacuum were actually under their own vapor pressure and those sealed in an atmosphere of helium were under an additional pressure due to the helium. At temperatures up to 1100°C the zinc pressure is 5 atrn or less for these alloys; consequently the maximum pressure over the alloys sealed under a helium atmosphere was 10 atrn or less at temperatures up to 1100°C. Changes in pressure of this order of magnitude do not appreciably alter the position of most solid-solid or liquid-solid phase boundaries. In constructing the phase diagram for a pressure of 5 atm, the effect of pressure on all phase boundaries except those for liquid-vapor or solid-vapor regions was considered negligible.

Jan 1, 1958

By Frank Tolonen

IRON-ORE beneficiation is becoming of vital importance to the Lake Superior region, since only a few decades will be needed to exhaust the direct shipping ores even if generous allowances are made for discoveries of new orebodies. If the region is to continue as the chief source of ore to the steel industry of the United States, it must concentrate or otherwise beneficiate the enormous tonnages of available iron formations. A beginning along this line has already been made. About one-fifth of the total shipment, even now, is the product of some sort of concentrating process, while another fifth is improved in physical structure by crushing, screening, drying, sintering, or some other similar method. The amount of material amenable to these processes is limited, however; and, in order to be able to utilize the billions of tons of iron formations that cannot be so beneficiated, an intensive study of their nature and concentration possi-bilities is necessary. As long as high-grade ores are available in ample quantities, ore dressing is economically impossible, but as soon as the supply nears exhaustion it becomes necessary. At first the products of ore dressing must meet as nearly as possible the same specifications as the rich ores in order to be adapted to the reduction processes already established. The future requirements as to quality will depend on the one hand upon the ability of the ore dresser to eliminate undesired constituents and charac-teristics in the material, and on the other upon the adaptation of the reduction processes to the product that can be economically supplied. A better understanding of the blast furnace and other reduction reactions, and improvements in the preparation of raw materials, should enable the Michigan districts to continue to supply ore for a long time to come. The study and testing of the iron formations necessary to bring a utilization of the low-grade ores, though requiring time and effort on the part of all concerned, should not be postponed, especially since the economic situation forces the use of the highest grade ore in preference to the leaner material.

Jan 1, 1933

By T. J. Woods

This paper deals with the origin, definition and prevention of scabs on semifinished rolled-steel product. Mold coatings, which are considered essential in scab prevention, were found to be effective only in relation to the ingot surface of semikilled and killed steels and not necessary for the rolled product. That is to say, the scabs on ingots caused by having been cast in uncoated molds are eliminated in the soaking and rolling operations, therefore are not present on the rolled product. This fact, which is contrary to the average opinion, was established after extensive and thorough experiments had proved the ordinary conception of the origin of scabs to be incorrect. This subject may be of little or no concern to steel plants producing small ingots for the manufacture of small billets and bars, except as it may be of interest in showing why their surface troubles with scabs do not exist on the product of heats with normal pouring practice. But to the producer of large ingots to be rolled into slabs for large plates used in shipbuilding, it is a very important subject. Definition of a Scab The generally accepted opinion is that the individual scabs present on rolled products (as shown by Fig. I) are considered to have been individual splashes on the ingot surface. This opinion was found to be incorrect. Experiments showed that there were no individual scabs on the product that had appeared as individuals on the ingot surface. The single scabs seen are either pieces of a shell that is present near the bottom of all top-cast ingots, or a veneer that may be present on any part of an ingot improperly poured, as when the stream strikes the mold wall. This definition is based on a detailed study of scabs and their characteristics in which the following have been found true: Location.—On the product of heats poured without trouble, scabs, if present, are always on the product that corresponds to the bottom end of the ingot, and usually occur in clusters. This is true whether molds are coated or not. Shape.—There is no regularity as to shape, size or thickness. It is sometimes possible to separate a few pieces and place them together, like pieces of a jigsaw puzzle, indicating that at one time they had been united as one piece. If individual splashes were the origin of scabs, the foregoing would not be true. Instead, the splashes, which occur throughout the pouring of the ingots, would be present uniformly over the entire product and there would be considerable similarity in the shape and thickness of the scabs. Experimental Work Our experimental work was conducted on 200-ton heats of semikilled plate steel tapped into an oval ladle 15 ft. high. All ingots were top-cast direct into 24 by 54 by 82-in. molds, straight-sided, set on flat stools. Two separate studies were made about one year apart, each study extending

Jan 1, 1943

By T. J. Woods

This paper deals with the origin, definition and prevention of scabs on semifinished rolled-steel product. Mold coatings, which are considered essential in scab prevention, were found to be effective only in relation to the ingot surface of semikilled and killed steels and not necessary for the rolled product. That is to say, the scabs on ingots caused by having been cast in uncoated molds are eliminated in the soaking and rolling operations, therefore are not present on the rolled product. This fact, which is contrary to the average opinion, was established after extensive and thorough experiments had proved the ordinary conception of the origin of scabs to be incorrect. This subject may be of little or no concern to steel plants producing small ingots for the manufacture of small billets and bars, except as it may be of interest in showing why their surface troubles with scabs do not exist on the product of heats with normal pouring practice. But to the producer of large ingots to be rolled into slabs for large plates used in shipbuilding, it is a very important subject. Definition of a Scab The generally accepted opinion is that the individual scabs present on rolled products (as shown by Fig. I) are considered to have been individual splashes on the ingot surface. This opinion was found to be incorrect. Experiments showed that there were no individual scabs on the product that had appeared as individuals on the ingot surface. The single scabs seen are either pieces of a shell that is present near the bottom of all top-cast ingots, or a veneer that may be present on any part of an ingot improperly poured, as when the stream strikes the mold wall. This definition is based on a detailed study of scabs and their characteristics in which the following have been found true: Location.—On the product of heats poured without trouble, scabs, if present, are always on the product that corresponds to the bottom end of the ingot, and usually occur in clusters. This is true whether molds are coated or not. Shape.—There is no regularity as to shape, size or thickness. It is sometimes possible to separate a few pieces and place them together, like pieces of a jigsaw puzzle, indicating that at one time they had been united as one piece. If individual splashes were the origin of scabs, the foregoing would not be true. Instead, the splashes, which occur throughout the pouring of the ingots, would be present uniformly over the entire product and there would be considerable similarity in the shape and thickness of the scabs. Experimental Work Our experimental work was conducted on 200-ton heats of semikilled plate steel tapped into an oval ladle 15 ft. high. All ingots were top-cast direct into 24 by 54 by 82-in. molds, straight-sided, set on flat stools. Two separate studies were made about one year apart, each study extending

Jan 1, 1943

By S. W. Miller

MOST of the steel welding done at the present time is in material containing not over 0.3 per cent. carbon, and the tests here described were in similar material. These tests are not as yet completed but it is hoped that more results and more reasons for the conclusions may be presented at the meeting in February. From the time the author found the peculiar structure in electric welds referred to in a previous paper,1 that is, needles or plates in the grains and similar material, in larger spots, at the grain boundaries, he has felt that these plates which may be iron nitride and probably contain some carbon, were at least partly responsible for the brittleness of electric welds. He has found but few traces of similar lines in oxyacetylene welds until the last 2 mo., when he has found them in large numbers under certain conditions. In the top of these welds, they are quite numerous. In the body of heavy oxyacetylene welds, they appear at times, but not nearly to the extent that they do in electric welds; the author has never seen them in the body of welds in material less than ;3/4 in. (19 mm.) thick. They are shown in Fig. 82. The reason they were not noticed before is undoubtedly due to the fact that in making tests of welded pieces the weld was always ground off level with the plate, and as this structure only appears in the top ;1/16 in. (1.5 mm.) of the weld, they were removed by the grinding or machining; also, welds ¾ in. thick had not been examined. It did not appear, in making bending tests, that this structure had much influence on the strength of oxyacetylene welds; while electric welds are noticeably brittle. Further, oxyacetylene welds made with certain special materials were exceedingly brittle even after the tops of the welds were removed; this was true in cases where there was no sign -of the plates whatever and where the welds were remarkably free from oxide and the other usual defects. It appeared, therefore, that this brittleness did not depend on any variable that had been noticed so far, and it was

Jan 2, 1919

By Ancel St. John

During a session on coal and coke at the February, 1926, meeting of the American Institute of Mining and Metallurgical Engineers, the writer called attention to the important work on the X-ray analysis of coal1,2 being carried on in England by C. Norman Kemp and his associates. This aroused so much interest that a paper on the subject was requested for the October meeting. It has seemed advisable to make this paper a preliminary survey of the present status in the application of X-ray methods to coal problems and to follow it from time to time with further articles as the art develops. A survey of this sort naturally divides itself into two parts, radio-scopic analysis of the distribution of constituents through the body of the coal, and diffraction analysis of the state of association of the elementary components. In this article the subject matter concerning radioscopic analysis has been drawn almost entirely from the writings of Kemp and his associates and the illustrations have been sptcially furnished by him. It is a pleasure to record here a great indebtedness for this courtesy and cooperation. The subject matter and illustrations concerning diffraction analysis are taken from the author's unpublished researches. Nature and Properties of X-rays Before proceeding it is well to recall the nature and some of the properties of X-rays, as well as our present conception of atomic structure According to the accepted theory atoms are composed of electrically-charged particles. A positively-charged center, called the nucleus,

Jan 1, 1927

By E. C. Wilson

The knowledge concerning the lubrication of open gearing for mining machinery has contained many unknowns and at its best has relied to a great degree on a "Rule of Thumb" procedure. It will be within the scope of this paper to explain what we have learned to date and what must be learned in the future. Action of Two Gears in Mesh Let us review some of the basic fundamentals concerning the action of two gears during mesh. Most of the gears we use are involute and may be spur, helical, or herringbone. The gear contact is a combination of rolling and sliding action.

Jan 12, 1968

By Fred D. DeVaney and

The coercimeter, as its name implies, is an instrument for measuring the coercive forcet of magnetic substances. It was developed by Davis and Hartenheim in the Special Studies Section, Metallurgical Division. A detailed description of this apparatus may be found elsewhere.2 The coercive force determinations of magnetic materials are interesting because of the relationship established by Gottschalk,4 who showed a linear relationship between the magnetization coercive force and the specific surface of comminuted particles. The value of this relationship in determining grinding efficiency has been shown by Dean.3 The determination of the surface contained in the subsieve sizes has always been a difficult problem for investigators. They made approximate measurements of the surface of coarse materials by sizing on screens, but for the determination of the surface of the sub-sieve sizes it was necessary to make detailed grain counts or elutriation tests, or to study dissolution rates. The technical literature contains many references to other methods for determining these surfaces, either by some special apparatus or by mathematical calculations based on distribution lines. Many of the methods are long and tedious, and the results of some, at least, are questionable. he turbidimeter gives quick results on ground cement. By using magnetite as the material to be ground, a simple determination of its coercive force by the coercimeter, requiring 10 minutes or less, can be transposed directly and accurately into units of relative surface. This subject has been pursued further by the U. S. Bureau of Mines in cooperation with the Missouri School of Mines and Metallurgy, Rolla, Mo., and the following is a description of the results.

Jan 1, 1939

By Fred D. DeVaney and

The coercimeter, as its name implies, is an instrument for measuring the coercive forcet of magnetic substances. It was developed by Davis and Hartenheim in the Special Studies Section, Metallurgical Division. A detailed description of this apparatus may be found elsewhere.2 The coercive force determinations of magnetic materials are interesting because of the relationship established by Gottschalk,4 who showed a linear relationship between the magnetization coercive force and the specific surface of comminuted particles. The value of this relationship in determining grinding efficiency has been shown by Dean.3 The determination of the surface contained in the subsieve sizes has always been a difficult problem for investigators. They made approximate measurements of the surface of coarse materials by sizing on screens, but for the determination of the surface of the sub-sieve sizes it was necessary to make detailed grain counts or elutriation tests, or to study dissolution rates. The technical literature contains many references to other methods for determining these surfaces, either by some special apparatus or by mathematical calculations based on distribution lines. Many of the methods are long and tedious, and the results of some, at least, are questionable. he turbidimeter gives quick results on ground cement. By using magnetite as the material to be ground, a simple determination of its coercive force by the coercimeter, requiring 10 minutes or less, can be transposed directly and accurately into units of relative surface. This subject has been pursued further by the U. S. Bureau of Mines in cooperation with the Missouri School of Mines and Metallurgy, Rolla, Mo., and the following is a description of the results.

Jan 1, 1939

Executive ERLE V. DAVELER. Chair u W. B. HEROY PAUL D. MERICA JOHN M. LOVEJOY WILLIAM WRAITH Finance H. G. MOULTON, Chairman H. T. HAMILTON HENRY KRUMB Admissions JOHN L. CHRISTIE, Chairman GEORGE D. BARRON, Vice-Chairman FRED H. KAY PHILIP KRAFT H. Y. WALKER

Jan 1, 1938

By C. E. Shoenfelt

Jan 1, 1942

By C. E. Shoenfelt

Jan 1, 1942

By E. R. Parker, D. L. Martin

In a previous paper one of the authors observed that the rate of cooling from the anneal prior to testing greatly influenced the life of copper under sustained load at 200°C. Furnace-cooled bars of oxygen-free copper (with and without silver) had a life four to twenty-five times that of the water-quenched specimens. The addition of 0.054 per cent silver to the oxygen-free copper increased the life at a stress of 20,000 lb. per sq. in. from about 2 hr. to 50 hr. Fractures in these bars were intercrystalline. An explanation was advanced to account for the profound influence of cooling rate on the rupture properties at 200°C. The suggestion offered was that at the high annealing temperature the minor constituents are distributed at random. By water quenching, this condition is maintained at room temperature, whereas furnace cooling permits some segregation at the grain boundaries. The higher concentration of the minor constituents in the grain boundaries results in a. strengthening, so that a longer life at a given stress and .temperature results. Small amounts of cadmium or manganese have also been found to increase the life of copper at 200°C., and to a much greater extent than silver.2 The increase in the long-time strength of copper resulting from small additions of cadmium or silver appears to be related, indirectly at least, to the higher softening temperatures of such alloys. The elements, such as silver or cadmium, which greatly increase the rupture life of copper also cause large increases in the softening temperature. As little as 0.05 per cent of cadmium or silver is sufficient to raise the softening temperature more than 100°.3,4 The effects of cooling rate and of minor constituents on the rupture properties are of considerable fundamental as well as practical interest; therefore a more detailed study of their nature was conducted and is reported in this paper. Experimental Procedure Materials The materials studied in this investigation may conveniently be classified in two groups: one consisting of a wide variety of commercial coppers, and the other composed of special high-purity, laboratory-prepared coppers. The commercial materials were tested to determine whether or not the effect of cooling rate occurred with all coppers, whereas the high-purity coppers were investigated in order to establish a basis for evaluating the effect of minor constituents on the rupture properties. In Table I are given the analyses of the coppers tested. The samples I to 6 are commercial materials and were obtained for the most part from stock supplies.*

Jan 1, 1944

By D. L. Martin, E. R. Parker

In a previous paper one of the authors observed that the rate of cooling from the anneal prior to testing greatly influenced the life of copper under sustained load at 200°C. Furnace-cooled bars of oxygen-free copper (with and without silver) had a life four to twenty-five times that of the water-quenched specimens. The addition of 0.054 per cent silver to the oxygen-free copper increased the life at a stress of 20,000 lb. per sq. in. from about 2 hr. to 50 hr. Fractures in these bars were intercrystalline. An explanation was advanced to account for the profound influence of cooling rate on the rupture properties at 200°C. The suggestion offered was that at the high annealing temperature the minor constituents are distributed at random. By water quenching, this condition is maintained at room temperature, whereas furnace cooling permits some segregation at the grain boundaries. The higher concentration of the minor constituents in the grain boundaries results in a. strengthening, so that a longer life at a given stress and .temperature results. Small amounts of cadmium or manganese have also been found to increase the life of copper at 200°C., and to a much greater extent than silver.2 The increase in the long-time strength of copper resulting from small additions of cadmium or silver appears to be related, indirectly at least, to the higher softening temperatures of such alloys. The elements, such as silver or cadmium, which greatly increase the rupture life of copper also cause large increases in the softening temperature. As little as 0.05 per cent of cadmium or silver is sufficient to raise the softening temperature more than 100°.3,4 The effects of cooling rate and of minor constituents on the rupture properties are of considerable fundamental as well as practical interest; therefore a more detailed study of their nature was conducted and is reported in this paper. Experimental Procedure Materials The materials studied in this investigation may conveniently be classified in two groups: one consisting of a wide variety of commercial coppers, and the other composed of special high-purity, laboratory-prepared coppers. The commercial materials were tested to determine whether or not the effect of cooling rate occurred with all coppers, whereas the high-purity coppers were investigated in order to establish a basis for evaluating the effect of minor constituents on the rupture properties. In Table I are given the analyses of the coppers tested. The samples I to 6 are commercial materials and were obtained for the most part from stock supplies.*

Jan 1, 1944

By James Park

The principal gold-bearing formation is of volcanic origin, consisting of a great accumulation of andesitic lavas, tuffs, breccias and agglomerates of lower Tertiary age. These rocks everywhere bear evidence of having been subjected to the prolonged leaching-action of thermal waters, doubtless accompanied by steam and acid vapors. They are found in all stages of decomposition or alteration; and in many mines the hard blue andesite can be seen to pass by a series of almost insensible gradations into a soft, or fairly hard, greyish yellow or blue

Jan 1, 1900

By S. W. Miller

MOST of the steel welding done at the present time is in material containing not over 0.3 per cent. carbon, and the tests here described were in similar material. These tests are not as yet completed but it is hoped that more results and more reasons for the conclusions may be presented at the meeting in February. From the time the author found the peculiar structure in electric welds referred to in a previous paper,1 that is, needles or plates in the grains and similar material, in larger spots, at the grain boundaries, he has felt that these plates which may be iron nitride and probably contain some carbon, were at least partly responsible for the brittleness of electric welds. He has found but few traces of similar lines in oxyacetylene welds until the last 2 mo., when he has found them in large numbers under certain conditions. In the top of these welds, they are quite numerous. In the body of heavy oxyacetylene welds, they appear at times, but not nearly to the extent that they do in electric welds; the author has never seen them in the body of welds in material less than ;3/4 in. (19 mm.) thick. They are shown in Fig. 82. The reason they were not noticed before is undoubtedly due to the fact that in making tests of welded pieces the weld was always ground off level with the plate, and as this structure only appears in the top ;1/16 in. (1.5 mm.) of the weld, they were removed by the grinding or machining; also, welds ¾ in. thick had not been examined. It did not appear, in making bending tests, that this structure had much influence on the strength of oxyacetylene welds; while electric welds are noticeably brittle. Further, oxyacetylene welds made with certain special materials were exceedingly brittle even after the tops of the welds were removed; this was true in cases where there was no sign of the plates whatever and where the welds were remarkably free from oxide and the other usual defects. It appeared, therefore, that this brittleness did not depend on any variable that had been noticed so far, and it was

Jan 2, 1919

By D. B. Kibler

Pill Florida hard-rock field extends from Suwanee and Columbia Counties in northwest Florida to south of Croom, Florida, in Hernando County this area is approximately 100 miles long and varies from 2 to 30 miles 1n width Florida hard-rock phosphate was discovered at Hale Springs, about one mile northwest of the town of Dunnellon Marion County, in the year 1888, by Albertus Voight who lived within a few hundred yards of the spring Soon after this discovery there was a great influx of land speculators and wildcat operators into the vicinity of Dunnellon A few years later phosphate was found in Alachua, Levy, Citrus and Hernando Counties, and a great number of small crude plants were built from Newberry, Alachua County, all the way to Croom, Hernando County Phosphate was found in many places as "outcrops " Looking for outcrops was the first method used by the early prospectors in searching for deposits Several years passed before any systematic method of prospecting was used EARLY MINING The early method of mining hard-rock phosphate was with picks and shovels, wheelbarrows, mules and wagons The pick-and-shovel method was used altogether until about 1900, when some of the larger operators began to use railroad-type steam shovels of from 1/2 to 1-yd capacity Picks and shovels, with negro labor loading the phosphate ore (called "matrix") into wooden side-dump skip-cars, was continued until about 1907 From the discovery of hard-rock phosphate until approximately 1905, overburden was removed with mules and scrapers At some places, the overburden was loaded into side-du nip skip-cars by negro laborers and the cars were then pulled up an incline with a steam hoisting engine The maximum depth of overburden that could be economically removed by hand labor mules and scrapers was approximately 15 feet About 1905 one of the companies erected a producer-gas powerhouse near Dunnellon and generated its own electricity and about the same time the larger companies began using hydraulic methods for the removal of overburden From the year 1888 through the year 1939, approximately 75 companies were operating at one time or another in the hard-rock territory, on approximately 500 locations The hard-rock deposits are more irregular and have higher mining costs than the pebble-rock deposits, therefore they have not been competitive in the domestic market, but because of the higher grade of the hard rock it is in demand for the export trade Discovery of phosphate outside of the United States has made it increasingly difficult in recent years for the hard-rock companies to survive, so today only three companies are operating These

Jan 1, 1941

University of Alaska College, Alaska Mining Society RAYMOND SMITH, President KEN \PIER. Secretary HOWARD, G. WILCOX Faculty Sponsor BERT OGBURN Counselor University of California Berkeley, California Mining Association D. J. MCNEIL, President S. A. YOUNG. Secretary LESTER C. UREN Faculty Sponsor GRANVILLE C. BORDEN, Counselor

Jan 1, 1943

By D. L. Passmore, J. D. Bennett

The degree of injury and days lost from work due to an injury are examined for selected electrical sources, occurring in conjunction with falls of the injured miner or with selected machinery, that could have been eliminated by use of diesel equipment. Although the number of preventable electrical source injuries is small relative to the total number of injuries during the period examined, many lost-time injuries could have been precluded and thousands of days lost from work could have been avoided.

Jan 1, 1986

By Reaves. M. J.

The title of my talk, "What Happened to the Uranium Boom?" is old news. Certainly it is for this group. All of us that make our living in uranium know that the boom of the last half of the 1970's is over. U.S. production has been exceeding consumption by more than two to one. Mines and mills are closing and yellowcake prices have been dropping for over 20 months. The gloomy outlook for the industry in the near term has been well documented by soothsayers of various descriptions, your daily newspapers, and in the Nuexco Monthly Reports. I'd like to attempt to describe the next upturn in the market (speculate, really) based upon the clues we're seeing now. In order to do that, I'd first like to go over briefly, some of the market factors that contributed to the recent price drop and resultant production cutbacks, and then hypothesize on the way these factors are changing and will change. Market prices are greatly affected (maybe even entirely determined) by buyer perceptions. This is particularly true with uranium, because of the long lead times associated with nuclear plant construction and also with conventional mine/mill development. Before the price rise (say, 1975) utility uranium buyers believed that: 1) U.S. producers would have difficulty expanding to meet U.S. demand. 2) Australian and Canadian production was essential to avoid shortages in the early 1980's. 3) Uranlum prices would continue to rise as demand exceeded supply. 4) Enrichment capacity would become inadequate. It was thought necessary, therefore, to build enriched inventory in the early 1980's for use in the late 1980's. Artificially accelerated expansion of the uranium producer industry was necessary to accommodate anticipated enrichment demand. Current perceptions are largely the opposite. These are the beliefs that were held most of this year and late last year as prices dropped. 1) U.S. production is far in excess of domestic need. Contraction of the U.S. production lndustry is necessary. 2) Canadian and Australian supply is optional and not essential. Producers in those countries are expanding mainly by displacing higher cost production and not because they fill a void, 3) Prices may be essentially stable for some time. 4) Enriched uranium is in excess supply. That is 1981. 1982 is shaping up to look like this: 1) Prices will have bottomed out. (That is not Nuexco's opinion necessarily, by the way, but it is my opinion.) 2) There will still be substantial utility inventories, but fewer spot sales. 3) Canadian and perhaps Australian sellers will have made substantial sales in the U.S. and will be aggressively seeking more. 4) U.S. production will have been dramatically curtailed. U.S. utilities that wish to con- tract long term will have difficulty in finding domestic sellers. Concern will develop about the availability of U.S. production capability. Virtually all long term con- tracts signed will be with non-U.S. sellers. 5) An awareness will begin to develop among U.S. buyers that we are approaching a period of dependence upon foreign uranium (which will be true). The history of the uranium market has been one of dramatic changes and overreaction to those changes. The rapid price rise of a few years ago generated excess U.S. production capacity and the rapid price drop of the last two years will almost certainly result in too little capacity. It will soon be difficult for U.S. buyers to buy domestic material except on the spot market. The question is, "will they care?" The lack of demand, of course, is the underlying reason for the current poor health of the uranium industry. In 1972, 1973 and 1974 collectively, there were 105 nuclear reactors ordered in the U.S. That ordering rate was expected to continue and accelerate throughout this century. In 1975, 1976, 1977, 1978, 1979, and 1980 altogether, there were 56 more reactors cancelled than ordered. The net growth of our only customer since 1974 has been a negative 56. TO put this in perspective, if these 56 reactors were operating now it would more than double present U.S. uranium consumption. Underlying lack of demand is something that is simply not going to change in this decade. Time is going to be required. The NRC indicates that the maximum feasible number of new reactors that can be licensed each year is six. That would increase uranium consumption by only 10% per year. New reactors, if ordered tomorrow, would not generate new uranium demand until after 1990. Even so, United States' consumption of uranium will rise from the 1980 level of 18 million pounds per year, to

Jan 1, 1982