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By John W. Buch

IN my review a year ago I pointed out that a small coal-mining companies as well as large had decided that the so called ?central shop? was a benefit. These central shops replaced in a large measure the commercial shops operated by those who have no direct connection with production of cod. Central shops in this time of salvage and major repairs have proved their worth. In addition, many of the larger companies had in their central shops equipment available for the production of many thousands of parts for our vast war machine and, as subcontractors, are doing this type of work. This is a real contribution to the war endeavor. Lack of new supplies has resulted in exhaustion of those stocks formerly stored or hidden in underground shanties. This means that the small stock of repair parts likely LO be available to any mine

Jan 1, 1943

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 G. E. Warner

This paper presents a review and analysis of a highly stratified Burbank sand waterflooding project in Osage County, Okla. Permeability values in this reservoir range from less than 0.1 md to nearly 3 darcys, and 90 percent of the permeability capacity is contained in approximately 26 percent of the reservoir volume. To date, the project has recovered 103 bbl/flood-acre-ft since waterflood initiation, which represents 50 percent of the total preflood cumulative and 12 percent of the original stock-tank oil in place (OSTOIP). The outstanding feature of this project has been the economical recovery of a sizable quantity of oil at water-oil ratios higher than those normally considered prohibitive. Nearly 70 percent of the recovery to date has been achieved at water-cut values greater than 95 percent. An ultimate waterflood recovery of 138 bbl/flood-acre-ft, or 67 percent of the preflood recovery and 16 percent of the OSTOIP, is predicted. The ultimate primary and secondary recovery will be 302 bbl/acre-ft and approximutely 40 percent of the OSTOIP. The actual performance is compared with the predicted performance by both the Stiles and the Dykstra-Parsons methods, and applicabiliry of these methods to this particular reservoir is evaluated. The performance of this project indicafes highly stratified reservoirs can be successfully and economically waterflooded when either reservoir or economic conditions preclude the use of mechanical and chemical means of mdbility control. Introduction The concept of the stratified reservoir has been used by reservoir engineers for many years to describe the vertical variations in permeability within a reservoir. Numerous techniques have been advanced to predict the expected waterflood performance of the stratified reservoir, and in most cases they prove reasonably accurate. The advisability of undertaking a prospective waterflooding project is determined, based on these predictions. This paper presents a review of a waterflood project in a highly stratified reservoir that normally would be considered a marginal prospect, at best, when evaluated with any prediction technique properly adjusted for reservoir conditions. This kind of project can be successful if the predictions are used to design a waterflooding system capable of economically recovering an oil cut of 1 to 2 percent. Experience gained in the early stages of the project's development was profitably applied in the later development of the entire reservoir and could prove beneficial to other projects with similar reservoir stratification or fracture characteristics. The East Burbank pool waterflooding operations have been developed in three separate stages, each of which has been a separate project: Mid-Burbank Unit, Flood A, and Stanley Waterflood. When referred to collectively, these projects will be called the Composite Project. The Skelly Oil Co.'s Barber lease — the only portion of the pool not included in the three projects — is operated as a separate facility with a cooperative injection-well agreement. It contains less than 80 productive acres and would not significantly affect the over-all performance picture.

Jan 1, 1969

By C. O. Tarr, G. V. Smith, R. F. Miller

METALLURGISTS have long recognized that the Fe3C type of carbide is not a stable phase in steel and that, given sufficient time, it will decompose with formation of graphite, at least at temperatures below about 2050°F.1 This slow graphitization has never been of much concern to users of hypoeutectoid steels, for in such steels it occurs only during prolonged exposure at elevated temperature. In 1935, Kinzel and Moore2 reported complete graphitization of the carbide of a 0.1 5 per cent carbon steel that had been in senrice for about 26,000 hr. at a temperature of about 1100° to 1200°F. In discussing this paper, both Mathews and Sauveur reported graphitization of slightly hypereutectoid steels. In an extensive investigation of graphitization of high-purity iron-carbon alloys, Wells1 produced graphite at 7o0°C. (1290°F.) in an alloy containing as little as 0.13 per cent carbon, and showed that graphite may precipitate either directly from austenite or from decomposition of Fe3C, also that the rate of graphitization tends to increase with increase of temperature, at least up to a certain point, and with the presence of graphite nuclei. Jenkins, Mellor and Jenkinson,3 studying the structural changes in carbon steels ranging from 0.17 to 1.14 per cent carbon during stress-rupture tests at elevated temperature, obsenred graphite in an aluminum-killed 0.40 per cent carbon steel after fracture in 4340 hr. under a stress of 17,900 lb. per sq. in. at 840°F. and in many of the steels after stress-rupture test at 1200°F. Unstressed samples of 0.60, 0.86 and 1.14 per cent carbon steels graphitized almost completely in 360 hr. at 1200°F., while samples of 0.90 and 1.10 per cent carbon steels were somewhat graphitized, and steels containing 0.24, 0.40 and 0.57 per cent carbon showed no sign of graphite. Their results indicate that graphite precipitates the more readily the higher the carbon content, though this tendency is influenced to some extent by deoxidation practice, and that graphitization is accelerated by plastic deformation. In a recent study of the graphitization of 0.4 and 0.6 per cent carbon steel strip, made by M. A. Hughes,4 it was found that at 1200°F. graphite appeared after 72 hr. in aluminum-killed but not in silicon-killed steel, and that the rate of graphitization was increased by slow cooling from 1600°F. and by cold-working prior to annealing. In creep tests of normalized o. I 5 per cent carbon steel killed with 2.5 lb. of aluminum per ton, at the U. S. Steel Corporation laboratory at Kearny, spheroidization and some graphitization were found after 3000 hr. at 1000°F. under a stress as low as 15m lb. per sq. inch.

Jan 1, 1944

The Pueblo Viejo Mine, a 7, 250 mtpd (8,000 stpd) gold-silver cyanidation plant built by Rosario Dominicana S. A., was described in Volume I of this monograph. At the time of writing that volume, Pueblo Viejo had not yet gone on-stream and operating data or costs could not be presented. Since that time this information has been obtained and several interesting modifications and an expansion have been made to the plant. Because Pueblo Viejo is the largest open-pit gold mine in the world and one of the world's leading gold-silver operations with production of approximately 31 kg (1,000 oz) gold and 125 to 155 kg (4,000 to 5, 000 oz) silver per day, the authors have updated the previous data and flow sheet. The Dominican Government, which held a 4670 interest in Rosario Dominicana S. A., completed purchase of the mine to gain full control in 1979. Rosario Resources will continue to manage the mine, at least until the end of 1980. Gold was produced at Pueblo Viejo almost 500 years ago with initial production in the year 1505. Rosario Resources became interested in the property in 1969 and found surface oxidation had rendered the upper portion of the ore body amenable to direct cyanide treatment. The treatment of the underlying gold-bearing sulfide zone is still undergoing metallurgical studies. The ore is considered to be a laterite; and because there appeared to be few boulders in the ore zone, only a 400 m (16 in. ) square grizzly was initially installed ahead of the mills when the plant went on-stream in late 1974 at a design capacity of 7,250 mtpd (8,000 stpd). Operation also proved the ore to be harder than was originally anticipated. During 1967 a 1. 25 m by 1. 5 m (48 in. by 60 in. ) jaw crusher was installed to -feed the 1, 000 mt (1, 100 st) mill bin. Minus 200 mm (8 in.) crushed ore is fed directly to two 5.5 m by 1. 8 m (18 ft by 6 ft) semi-autogenous mills re-powered with 750 km (1,000 hp) motors and 50 mm (2 in.) grates. Each mill product is screened at 13 mm (1 /2 in.) by a vibrating screen. Screen oversize from each mill is combined on a single return belt equipped with a magnetic head pulley for grinding ball removal. The non-magnetic oversize is then split into two fractions for return to the primary mills. Originally, a minus 6 mm (1/4 in ) product was made on each screen and fed to a 300 kw (400 hp) 2.6 m by 3. 7 m (8-1/2 ft by 12 ft) regrind mill. During a plant expansion in 1978, an intermediate mill of 746 kw (1,000 hp) was installed to operate in open circuit on the combined primary mill

Jan 1, 1981

By G. V. Smith, C. O. Tarr, R. F. Miller

Metallurgists have long recognized that the Fe3C type of carbide is not a stable phase in steel and that, given sufficient time, it will decompose with formation of graphite, at least at temperatures below about 205o°F.l This slow graphitization has never been of much concern to users of hypoeutectoid steels, for in such steels it occurs only during prolonged exposure at elevated temperature. In I935, Kinzel and Moore2 reported complete graphitization of the carbide of a 0. I5 per cent carbon steel that had been in service for about 26,000 hr. at a temperature of about IIOO° to 12oo°F. In discussing this paper, both Mathews and Sauveur reported graphitization of slightly hypereutectoid steels. In an extensive investigation of graphitization of high-purity iron-carbon alloys, Wells1 produced graphite at 7oo°C. (I29o°F.) in an alloy containing as little as 0.13 per cent carbon, and showed that graphite may precipitate either directly from austenite or from decomposition of Fe3C, also that the rate of graphitization tends to increase with increase of temperature, at least up to a certain point, and with the presence of graphite nuclei. Jenkins, Mellor and Jenkinson,3 studying the structural changes in carbon steels ranging from 0.17 to 1.14 per cent carbon during stress-rupture tests at elevated temperature, observed graphite in an aluminum-killed 0.40 per cent carbon steel after fracture in 4340 hr. under a stress of 17,900 lb. per sq. in. at 840°F. and in many of the steels after stress-rupture test at 12oo°F. Unstressed samples of 0.60, 0.86 and I.I4 per cent carbon steels graphitized almost completely in 360 hr. at I200°F., while samples of 0.90 and 1.10 per cent carbon steels were somewhat graphitized, and steels containing 0.24, 0.40 and 0.57 per cent carbon showed no sign of graphite. Their results indicate that graphite precipitates the more readily the higher the carbon content, though this tendency is influenced to some extent by deoxidation practice, and that graphitization is accelerated by plastic deformation. In a recent study of the graphitization of 0.4 and 0.6 per cent carbon steel strip, made by M. A. Hughes,4 it was found that at I2oo°F. graphite appeared after 72 hr. in aluminum-killed but not in silicon-killed steel, and that the rate of graphitization was increased by slow cooling from I6oo°F. and by cold-working prior to annealing. In creep tests of normalized 0.15 per cent carbon steel killed with 2.5 Ib. of aluminum per ton, at the U. S. Steel Corporation laboratory at Kearny, spheroidization and some graphitization were found after 3000 hr. at Iooo°F. under a stress as low as 1500 lb. per sq. inch. .

Jan 1, 1944

By C. O. Tarr, G. V. Smith, R. F. Miller

Metallurgists have long recognized that the Fe3C type of carbide is not a stable phase in steel and that, given sufficient time, it will decompose with formation of graphite, at least at temperatures below about 205o°F.l This slow graphitization has never been of much concern to users of hypoeutectoid steels, for in such steels it occurs only during prolonged exposure at elevated temperature. In I935, Kinzel and Moore2 reported complete graphitization of the carbide of a 0. I5 per cent carbon steel that had been in service for about 26,000 hr. at a temperature of about IIOO° to 12oo°F. In discussing this paper, both Mathews and Sauveur reported graphitization of slightly hypereutectoid steels. In an extensive investigation of graphitization of high-purity iron-carbon alloys, Wells1 produced graphite at 7oo°C. (I29o°F.) in an alloy containing as little as 0.13 per cent carbon, and showed that graphite may precipitate either directly from austenite or from decomposition of Fe3C, also that the rate of graphitization tends to increase with increase of temperature, at least up to a certain point, and with the presence of graphite nuclei. Jenkins, Mellor and Jenkinson,3 studying the structural changes in carbon steels ranging from 0.17 to 1.14 per cent carbon during stress-rupture tests at elevated temperature, observed graphite in an aluminum-killed 0.40 per cent carbon steel after fracture in 4340 hr. under a stress of 17,900 lb. per sq. in. at 840°F. and in many of the steels after stress-rupture test at 12oo°F. Unstressed samples of 0.60, 0.86 and I.I4 per cent carbon steels graphitized almost completely in 360 hr. at I200°F., while samples of 0.90 and 1.10 per cent carbon steels were somewhat graphitized, and steels containing 0.24, 0.40 and 0.57 per cent carbon showed no sign of graphite. Their results indicate that graphite precipitates the more readily the higher the carbon content, though this tendency is influenced to some extent by deoxidation practice, and that graphitization is accelerated by plastic deformation. In a recent study of the graphitization of 0.4 and 0.6 per cent carbon steel strip, made by M. A. Hughes,4 it was found that at I2oo°F. graphite appeared after 72 hr. in aluminum-killed but not in silicon-killed steel, and that the rate of graphitization was increased by slow cooling from I6oo°F. and by cold-working prior to annealing. In creep tests of normalized 0.15 per cent carbon steel killed with 2.5 Ib. of aluminum per ton, at the U. S. Steel Corporation laboratory at Kearny, spheroidization and some graphitization were found after 3000 hr. at Iooo°F. under a stress as low as 1500 lb. per sq. inch. .

Jan 1, 1944

By DR. DOUGLAS

Discussion of the Paper of Dr. Douglas, presented at the Toronto Meeting of the Institute, July, 1907 (Trans., xxxviii., 455 to 471). EDGAR HALL, Silverspur, Queensland, Australia (communication to the Secretary*) :-Dr. Douglas has written on this subject before, and his influence has had a powerful effect on the side of freedom among the younger generation of engineers. Moreover, it is not the first time that he has attributed the decline of the copper-smelting industry in Swansea to the secrecy maintained by the firms there engaged in smelting-operations. In this latter statement I think his conclusions are open to criticism. Whether the firms referred to have suffered by their secrecy is their own business-I. bold no brief for them ; but that the decline of the copper-industry at Swansea was inevitable seems to me to be proved conclusively by Dr. Douglas's own writings. In his paper on The Copper Situation,1 Dr. Douglas says "In comparing iron and copper mining, . . . it must be remembered that 2 tons of average iron ore from the most prolific source now available will make 1 ton of metal; whereas from 33 to 75 tons (say an average of 50 tons) of copper ore must be mined to produce 1 ton of copper." And further: "Last year's production of iron was made from approximately 50,000,000 tons of ore. Our copper mines, to yield a production of 900,000,000 pounds, must have handled approximately 22,000,000 tons of ore, or nearly half the quantity raised from our iron mines." Is not this the key to the whole situation ? In transporting the 50,000,000 tons of iron-ore, 25,000,000 tons of the metal iron were carried so much nearer to the market, but the transportation of 22,000,000 tons of copper-ore would have carried only 450,000 tons of the metal copper nearer to its ultimate destination. The small percentage of copper available in its ores makes

Sep 1, 1908

By John V. Hamme

ONE of Tungsten Mining Corp.'s Vance County, N. C., mill near Henderson was the installation of a new crushing plant with a capacity of 45 to 50 tph. During 1953 the milling rate was jumped from 650 tons to 800 tpd simply by expanding existing facilities, eliminating bottlenecks, and making changes in the existing and new circuits. Previous expansions in 1951 and 1952 raised mill capacity from 300 tons to 650 tpd. In its latest move, Tungsten Mining decided that expansion of existing facilities would be more economical than building that normal production was uninterrupted. For the engineering and design of the new crushing plant and mill expansion the services of the Southwestern Engineering Co., Los Angeles, were obtained. The Southeastern Construction Co., Charlotte, N. C., carried out construction, alterations to existing facilities, and the installation of equipment

Jan 10, 1954

By E. H. Griswold, C. E. Beecher

DURING 1931 the petroleum industry has faced the most hazardous periods of its existence, caused by large potentials, overproduction, and demoralized markets. Two state governors actually resorted to the use of the militia in an effort to restore a semi-stabilized condition within the industry, to prevent waste of the states' natural resources, and to restore prices to a level that would yield the states a reasonable tax revenue. These conditions have made it necessary to put into effect most. stringent economies and have produced a spirit of cooperation between companies to an extent that never before existed. The necessity for unified action on such matters as proration and the advantages to be gained by unit operation are being realized by the oil industry as a whole. Fewer wells have been drilled and wildcat operations almost eliminated: development and operation costs have been greatly reduced and more attention is being paid to efficient recovery methods. The net work of oil pipe- lines has grown rapidly especially in the area of East Texas. The construction and operation of natural gas and gasoline pipelines into areas far distant from the source of supply has been one of the outstanding accomplishments. Refining efficiency has continued to increase and the public is being supplied with a better grade of gasoline at a lower price. The unreasonable tax which state politicians have succeeded in placing on gasoline has encouraged tax evasion and unfair competition by un- scrupulous dealers and has misled the public as to the true price of gasoline.

Jan 1, 1932

By Willard L. Cumings, Benjamin L. Miller

(Glen Summit Meeting, June, 1911.) I. THE CAMAGUEY DEPOSITS. 1. Location. THE Camaguey brown iron-ore deposit covers the top of San Felipe hill, the nearest point of which lies 14 miles NW. of the city of Camaguey. While there are several low flat-topped hills in the vicinity covered with a more or less continuous mantle of brown iron-ore, the deposit of San Felipe hill is the only one of any size and importance, and the name "San Felipe district " is proposed for the region. The deposit extends in a NW-SE. direction for a distance of about 10 miles, with an average width of 5 miles. The location is shown in Fig. 1, a sketch-map of the eastern part of Cuba. Fig. 2 is a map of the San Felipe district. 2. Description. The district is mentioned by Spencer,1 who says: "The Cubitas iron-ore fields are situated from 12 to 15 miles north of Camaguey City, in the province of Camaguey Within an area measuring roughly 10 miles east and west and 4 miles north and south, there are several flat-topped mesas rising 300 to 400 ft. above the level of an almost featureless plain which extends for many miles in all directions except toward the north." With the exception of the discrepancy in his statements as to the distance from Camaguey and the area of the hill, which is over 50 sq. miles, his description is a very good one. Kemp 2 has the following to say of ores in Carnaguey Province * Geologist, Bethlehem Steel Co. + Professor of Geology, Lehigh University. 1 Bulletin No. 540, U. S. Geological Survey, p. 324 (1908). 2 The Iron Ore Resources of the World, printed by the Eleventh International Geological Congress, vol. ii., p. 795 (1910).

Mar 1, 1911

Jan 1, 1885

By Antoni Kidybinski

Mechanical properties of the nether roof rocks play a substantial role in maintenance of mine openings. On longwall faces too low strength is a cause of rock- falls which bring about delays in face advance, and hazard to the miners, while too high strength may result in over hanging of roof rocks in gobs, sometimes over a large area, initiating dynamic periodical pressures. Hence, efforts have been undertaken to develop methods of caveability evaluation for proper selection of roof control system and of longwall-face supports. DESCRIPTIVE CLASSIFICATIONS One of the basic qualitative criteria for classification of roof types with different caveability is the criterion of geological structure. The 26-stages scale worked out for conditions of Donetz Coalfield. USSR, by E.T. Proyavkin et al.(l) may be an example of that type of classification. This scale is presented graphically in Fig. 1. The first types of roofs according to this scale are easily caving immediately after exposure of a small surface, while the last be- long to the strongest roofs which over-hang in waste and require artificial fracturing. Observations and measurements carried out also in Donetz mines lead W.T. Davidyanc (2) to following classification: Class I - weak and densely bedded rocks very easily caving after each advance of supports. The roof subsidence over a waste edge is: [ ] where: h is roof subsidence, m M is thickness of the seam being mined, m S is width of an opening, m Class II - medium caveability and small main roof movements [ ] Class III - hardly breakable rocks, thicker beds with higher strength: caving by large blocks. After exposure of larger roof surfaces the movements of the main roof strata may affect an opening. [ ] Class IV - very hardly breakable rocks - thick, monolithic sandstones: they cause considerable difficulties in working with caving. [ ] Class V - thin-bedded rocks featured by the capacity of a smooth subsidence without disintegration into loose blocks with keeping contact between the particular blocks in a bed. In this classification mining with full roof caving is recommended for class I-III and only exceptionally for class IV. In many coal fields, qualitative and quantitative observations of roof rocks behavior have been carried out: as a result relations and characteristics found in certain mines are given. As an example, Kizielov Coalfield data in the USSR given by B.S. Vinokur (3) may be mentioned. In working thin pitching seams man- less system of undercutting the seam by means of rope saw is used there. The author separated four classes of roofs and gave, for every class, the empirical relation between the extracted area and the time of roof stability. The size of the stable area of exposed roof for particular classes is as follows: 120 to 150 m2 (1291 to 1614 ft2 ), 170 to 200 m2 (1829 to 2152 ft2), 250 to 280 m2 (2690 to 3013 ft2 ) and 350 to 400 m2 (3766 to 4300 ft ). For Kuznetz coalfield in the USSR the following classification of roofs was developed at the WIMI Institute in Leningrad: Class I - completely unstable: impact strength in- dex of rock f = up to 1.5 - the strip of roof 1.4 to 2.0 m (4.59 to 6.56 it) wide, exposed after shearer's cut holds stable during the time not longer than 5 min. Class II - low stability: f = 1.5 to 2.5 - the strip of roof 1.4 to 2.0 m (4.59 to 6.56 ft) wide and up to 4.0 m (13 it) long, exposed after shearer's cut holds stable during 5 to 20 min. Class III - medium stability: f = 2.51 to 3.5 - the strip of roof 1.4 to 2.0 m (4.59 to 6.56 it) wide and 4.0 to 25 m (13 to 82 ft) long, exposed after shearer's cut holds stable from 20 min. to 2 hours. Class IV - stable: f = 3.51 to 4.5 - the strip of roof 1.4 to 2.0 m (4.59 to 6.56 ft) wide and 25 m (82 it) long exposed after shearer's cut is stable during the time longer than 2 hours. Class V - entirely stable: f = over 4.5

Jan 1, 1982

By David R. Maneval, H. B. Charmbury

At the turn of the century, iron and coal were the keys to industrial prosperity. At that time, Pennsylvania was the leading mineral producer in the Country, producing 200,000,000 tons of coal in a typical post-World War I year. Close to 90% of the Nation's energy was generated by coal. Today, coal accounts for but 22% of the energy generated, leading to a drastic reduction in Pennsylvania coal output. In contrast with the post-World War I days, 1964 figures showed a drop in production to 93,846,480 net tons. This huge decrease has created a serious economic problem in a state so much dependent on the coal industry. Along with the reduction in coal production, employment has dropped considerably through these years (the number of miners alone has gone from 280,011 to 43,149), thus causing a heavy burden of supporting the unemployed on the taxpayers. As far back as 1939, coal operators and economists saw the problems on the horizon and the need for improvement. Realizing that research was a way to improve and stabilize the industry they demanded legislative action. The Legislature reciprocated with a small grant to The Pennsylvania State University with the provision that each State research dollar be backed with one from the industry. This initial grant laid the foundation for the further growth in coal research.

Jan 3, 1966

By AIME AIME

IN a recent technical paper of the Central Committee of the French Coal Mines (Note technique No. 198, by L. Lahoussay) the author points out that continuous in¬crease in depth of mine shafts makes it more and more necessary to look for appropriate means to reduce the weights and dimensions of the hoisting ropes. Increasing depth demands a larger section and weight for the cable if the useful load is not to be cut down at the same time. This naturally leads to increased cost per ton, and at the same time creates serious mechanical difficulties. The dimensions of the hoisting engine must be increased, acceleration at the start must be decreased so as to avoid periods of excessive peak power loads, and a longer time be allowed to slow down the speed of the hoist when applying brakes. The hoisting rope, upon which depend the dimensions and hence the mass of the hoisting engine, presents the greatest obstacle to the development of hoisting from greater depths. Evidently, for a given depth, the total weight of the rope can be notably reduced by utilizing a wire rope of decreasing section, approaching the theoretical logarithmic form. This is a solution frequently adopted for great depths. Of course, the weight of the rope could be easily' diminished by reducing the useful load, but it is certain that with increasing depth of mining, more effort must be made to confine the hoisting to a small number of shafts, and increase the load hoisted per trip.

Jan 1, 1933

By Thomas A. Simpson, Tunstall R. Gray

The Birmingham district first produced steel from Alabama hematite ores in 1899. Since then, the district generally produced more than 6.0 million gross tons of ore a year to the late 1950's. Production has declined since then to an annual rate of about 1.5 million gross tons. Reserves calculated for the district are sufficient to last many years. Mining in the district is now confined to Woodward Iron Company's Vance and Pyne mines. The rocks exposed consist of about 15,000 feet of consolidated Paleozoic sediments with a thin veneer of unconsolidated Cretaceous sediments in the Vance area. The district is characterized by a distinctively parallel and subparallel, slightly arcuate series of faults and joint systems. In view of available information, it seems reasonable to conclude that the Birmingham red ores are of sedimentary origin, modified to a small extent by diagenetic replacement after original deposition.

Jan 1, 1968

Jan 1, 1893

By J. Chupak, D. J. Salley, G. L. Simard

Radiotracers were demonstrated to be of considerable value in a study of the interaction of dithiophosphate with galena. The interaction had characteristics of both chemisorption and chemical reaction, being complex because of the nature of the galena surface. Sorption was rapid and markedly reversible, and flotation occurred at relatively small amounts of dithiophosphate sorbed.

Jan 1, 1950

By AIME AIME

CHARACTERIZING the annual meeting as the biggest and best one yet has happened so repeatedly that some may suspect it has become a conventional phrase, like "good morning," and yet, what else can be said when not only one but all the many who express an, opinion use exactly those words, while the first of the two adjectives refers to a physical fact that is established by count. Perhaps there were hose who thought it not the best, but if so they were too tactful to say it out loud. So without further ado . let us admit that the one hundred and thirty-ninth general meeting of the A. I. M. E. held; as our By-laws provide, in New York during the third week of February, was the biggest and best of them all. Perhaps it is because we appreciate friendliness more as we grow older, but somehow the friendly atmosphere seems to rise slowly in temperature with the passing of the years. The actual atmosphere on the opening morning was quite the contrary, Feb. 17 being the coldest clay, so far, of this winter, and the suburbanites claimed that their thermometers had registered 5" below zero when they got up, though the official records of the weather man did not go that low. From that time the temperature steadily rose until Thursday afternoon, when the official record of 66" constituted a record high for Feb. 20 at New York. The weather man explained it by learned discussion of highs and lows, but we suspect the A.I. M. E. members must have had something to do with it.

Jan 1, 1930

By Robert T. DeGavre

INTRODUCTION The $645 million financing for Inco Ltd's Soroako nickel project in Indonesia not only represents a significant human achievement but also there are certain important lessons that can be derived from Inco's experience in financing the project. The paper will not present a technical assessment of the project since Inco Ltd. submitted a series of papers on this subject at the international Laterite Symposium as part of the 108th Annual Meeting of the AIME in February 1979. BRIEF HISTORY OF THE SOROAKO PROJECT Table 1 summarizes the milestones achieved in the Soroako project and its financing. Exploration Phase A contract of Work was signed on July 27, 1968 by the Republic of Indonesia and F.T. International Nickel Indonesia (P.T. Inco) covering an extensive area of over 25,000 square miles on the two southeastern arms of the island of Sulawesi. The Contract provides that P.T. Inco has the sole responsibility for financing the project and determining the terms on which the financing should be obtained, that P.T. Inco has the right to receive and hold outside of Indonesia foreign exchange revenues and to freely dispose of such revenues, and that Indonesians have the right to purchase up to 20% of the equity of P.T. Inco over a period following start of production. P.T. Inco began field investigations in the Contract Area in August 1968. Preliminary reconnaissance sampling with portable drills broadly outlined areas of favorable laterite terrain which were then systematically sampled on surveyed grids. By early 1971 sufficient exploration work had been completed to indicate that the laterite deposits near Soroako could sustain a major nickel-producing plant (figure 1). Pilot plant studies in 1970 and 1971 at Inco's research station in Port Colborne, Ontario, using two bulk samples of Soroako ore material, also confirmed that the ore could be upgraded and treated for the recovery of its metal values. Feasibility Phase Encouraged by the results of its exploration program and pilot-plant work, Inco Ltd. commissioned Toyo Engineering Company of Japan in August 1971 to prepare a capital cost estimate for a relatively small nickel project called "Stage I". Stage I was to be a single-line pyrometallurqical process plant with an annual capacity of approximately 15,000 metric tons of nickel contained in 75% nickel sulphide matte (see Figure 2). Electric power was to be supplied by a thermal power station. It is important to recognize that Inco's strategy was to develop the Soroako ore deposits in several stages: first, construct a small project to gain experience and to reduce the initial capital outlay and then later expand in one or more steps to a much larger project to achieve maximum economies. The strategy reflected both Inco's financial position in 1971 as its sales and earning dropped sharply and the difficulties previously experienced by Inco in trying to launch in the late 1960's very large "greenfield" nickel projects in New Caledonia and Guatemala. Toyo's Project Development Study was completed. in January 1972. Based upon Toyo's cost estimate for physical facilities, Inco estimated the total capital cost of Stage I to be $115 million. For the next several months, Inco ran numerous in-house financial feasibility studies, using as inputs Toyo's cost estimate and the results of its exploration and pilot plant programs. In September 1972, Inco completed a project feasibility study which was based upon a capital cost estimate of $135 million. The feasibility study was immediately made available to potential partners and lenders. Partner Negotiations The Japanese nickel market had from the outset been central to Inco's planning for the Soroako project. That market had been growing dramatically at rates in excess of 20% per annum during the 1950's and 1960's. Japan had established, for rational security and other reasons, a domestic

Jan 1, 1985