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By Grover R. Castle

INTRODUCTION "Project Financing" or "Project Loans" have become increasingly popular in recent years, and commercial banks are being asked to consider more and more of such financing. However, the analysis of this type of loan is quite different from the analysis of a loan to a financially sound corporation based on the company's balance sheet. For this reason Chemical Bank did a study of project loans in an attempt to be more sophisticated in our approach to them. As part of this study, we examined 29 project financings for which information was available. In this article I shall describe project loans and set forth the guidelines we developed, as an aid to credit officers who might have occasion to analyse this type of financing. DEFINITION OF "PROJECT FINANCING" OR "PROJECT LOAN" The terms "project financing" and "project loan" commonly describe the various methods that banks and institutional lenders use to finance the construction of new projects on a basis whereby payout is anticipated from the revenue stream generated by the project. A project financing often involves a loan to a new entity formed specifically to own the project. The analysis of a project loan proposal is quite different from the analysis of other term-loan proposals since it involves a credit decision based on the review of a projection or forecast rather than of historical earnings and/or it involves the reliance on contractual obligations of third parties. Lenders are asked to assume the added risks associated with project loans because: 1. Project financing may permit a company to obtain additional leverage. It is possible for companies to arrange financing on a project basis that could not be arranged as a direct borrowing. For example, a company may not be permitted to borrow more money directly, due to a limitation in a bond indenture. However, a project financing can sometimes be negotiated on a basis not prohibited by the indenture. 2. Often the sponsors of, or the stockholders in, the project are seeking an off-balance-sheet financing. For example, 11 of the 29 projects in our study were arranged on an off-balance-sheet basis and one showed on the balance sheet as a deferred income item. An off-balance-sheet financing, for the purpose of this article, is a financing which does not show as a direct liability on the balance sheet of the sponsors of or stockholders in a project. 3. Projects are often located in a foreign country. The financing is arranged so that the lenders assume the political risk on the loan because many companies rightly believe that this arrangement affords a degree of insulation from political risk not otherwise obtainable. 4. Many projects are jointly owned by several sponsors. This form of financing lends itself well to a situation where a new entity is formed to own a project and do the borrowing. Project loans can be used to finance a variety of activities including development of iron-ore deposits and associated pelletizing plants; development of coal reserves; construction of pipelines, alumina plants, fertilizer plants and refineries; etc. The specific areas of analysis can be quite different, depending upon the type of project being financed. It is important, therefore, to classify the proposal according to the type of project, and also by the nature of the financing - nonrecourse financing, financing covered by a guarantee of completion and financing supported by an undertaking lasting for the life of the financing. I will discuss each of these types in more detail later, but first, I should like to make some

Jan 1, 1985

By Oliver Bowles

A HEAVY gel of bentonite clay has been proposed as an effective lubricant to speed down the ways to sea, river, or lake, the mighty cargo ships now hitting the water at the rate of about three a day. Another unusual application of a nonmetallic mineral is in food conservation, for the claim has been made that the next new item on the menu for poultry and rabbits will be vitamin tablets prepared from mont-morillonite clay. These uses have minor importance but illustrate not only the diversity in utilization, but the notable trend in 1942 toward mobilizing nonmetallic minerals for the war program. Although occupying less headline space than iron, steel, copper, aluminum, magnesium, and other metals, the nonmetallics are filling important emergency needs. Mica and quartz crystal are essential to communication; asbestos is urgently needed in fireproof heat and electrical insulation; and strontium minerals are utilized in the manufacture of signal flares and tracer bullets.

Jan 1, 1943

By Walter G. Perkins

T SEEMS almost sheer presumption to attempt' to discuss Russia in its present chaotic political and economic condition, and were it not that at least two certain absolute factors are continuously at work, it would be impossible to' even approach the subject with any degree of intelligence. These are the inborn love of peace of the people and the national character of the cooperative movement. The love of peace inborn in the soul of every Russian, the desire to be left alone and to- live his life among his home village surroundings, is probably one of the two greatest factors that will make the continuance of the present conditions of civil war impossible. One army or the other may sweep up and down the country. but the Russian peasant will: remain in his own village if not literally darken out. This love of peace is evidenced by the fact that there is no country where personal safety is greater than in Russia in normal times. I have traveled in many isolated parts, carrying considerable sums of money and persolial equipment that; in itself, would be a fortune to any peasant, and have never even encountered a condition in which the most wildly imaginative person looking for adventure, 01: trouble, could muster up even a suspicion of fear. This statement applies also to Southern Siberia and Northern Turkestan, which are inhabitated by the nomadic tribes of Khirghese origin.

Jan 1, 1920

D EC. 20-The spirit of Christmas and good will toward men has managed a few brief appearances on the front pages, welcome relief from man's usual ill-will toward man. A couple politicos did their best to brighten the scene by well-publicized romances. There was a general exodus to Florida to patch up nervous systems, and even the UNO quieted down as Mr. Vyshinsky departed for home via Eastern Germany. Before going he opened up a preliminary bombardment for the worldwide "communist peace offensive," and it is now the duty of the 600 million (according to the Cominform) ideological converts to press home the attack. In Washington, Mr. Lilienthal resigned as Chairman of the Atomic Energy Commission and demonstrated again the difficulty of government to retain the services of capable men. The President has yet to appoint another victim- possibly someone nicely noncontroversial and timid. So might the critics be appeased, but it would bode ill for the rapid exploitation of peaceful uses of atomic energy, the relaxation of excessive secrecy, wider sharing of developmental work with friendly nations and possible revision of the Acheson-Lilienthal proposals for inter- national control of the atomic bomb.

Jan 1, 1950

By Horace R. Graham

CHEMICAL nitrogen and the "nitrates" of commercial significance are derived mainly from three basic sources: (1) the natural deposits in the form of nitrate-bearing earth and clay, which, being largely water-soluble, can exist only in the most arid portions of the earth; (2) coal, which yields not only nitrogen but also the additional by-product hydrogen required for the synthesis of ammonia and its compounds; (3) the atmospheric air, which contains 75.5 pct by weight of pure nitrogen gas. NATURAL NITRATE DEPOSITS Occurrence Although natural nitrate deposits consisting principally of the salts of sodium and potassium have been reported in Egypt, South Africa, Mexico, Argentina, Colombia, Peru and the USA, the only known natural nitrate resources of commercial importance are the vast deposits found in the Atacama, Tarapaca and Antofagasta regions of northern Chile, lying in a narrow strip 10 to 50 miles wide and roughly 450 miles long, between latitudes [19O] and [26OS]. In addition to yielding nitrates of sodium and potassium, these deposits are the source of the major portion of the world's supply of iodine. The nitrate-bearing ores known in Chile as caliche are variable in composition and may contain from 5 to 30 pct each of nitrate, chloride and sulphate. While the deposits are present chiefly in the form of the sodium salt, potassium, magnesium and calcium also occur in percent- ages from 0.1 to 5; usually as double salts with sulphate, which are but slightly soluble in nitrate leach solutions. These double salts are bloedite(Na2S04.MgS04.4H,0), glauberite (Na2S04.CaS04), polyhalite (K2SO4.- MgS04.2CaS04.2H20). Some deposits contain up to30 pct of their ni-

Jan 1, 1949

By S. J. Swainson

PHOSPHATE ROCK is a low- priced commodity. This fact has influenced the choice of mining and beneficiating methods to a greater degree, perhaps, than in most other low-grade mining operations. The fact that many yards of everburden and matrix must be stripped and mined per ton of salable "rock" produced and sold has necessitated he development of relatively simple btneficiating plants having high capacity and low capital and operating costs. The law of diminishing returns must always be reckoned with in phosphate mining and washing, and often recovery must be sacrificed in favor of costs in order to achieve the highest over-all economic efficiency. The phosphate-bearing formation, known as "matrix," is composed of (1) phosphate pebbles, which are somewhat rounded in shape and which vary in size from 1-in, to micron sizes, (2) rounded quartz grains usually smaller than 10 mesh, and (3) clay, of varying "stiffness," which is the binder of the matrix. The phosphate pebbles vary in hardness. Their color, which varies from white to black, is not a reliable indicator of the Bone Phosphate of Lime (B.P.L.) content of the

Jan 1, 1944

[Separates of all the Technical Publications published in 1930 are available at Institute headquarters. All the papers are on file in public, university and technical libraries, and when so indicated in the list, may be found in the Transactions.] Metal Mining Technical Publi- Title Author Meeting Tran~. cation Volume No. and Page* 264-A.29 Quicksilver Industry in 1929. Im- L. H. Duschak San Francisco T30, 283, 319 provements in the Metallurgy of C. G. Maier and Oct., 1929 Quicksilver and Symposium on The others Present Status of the Quicksilver Industry (With Discussion) (37) 271-A.30 Observation on Ground Movement R. E. Palmer New York T30. 168 and Subsidences at Rio. Tinto Feb.. 1930 Mines, Spain (20) 274-A.31 Development and Installation of the C.L.Berrien New York T30, 139, 166 Hawkesworth Detachable Bit (29) Feb., 1930 276-A.32 Protective Measures . Against Gas 0. A. Glaeser New York T30, 129. 167 Hazards at United Verde Mine (11) Feb., 1930 287-A.33 Use and Cost of Compressed Air (12) R. S. Lewis New York Feb., 1930 314-A.34 Miami Copper Company Method of F. W. Maclcnnan New York T30, 39, YO Mining Low-grade Orebody (44) Feb., 1930 319-A.35 How Human Beings Respond to W. J. McConnell New York Changing Atmospheric Conditions Feb., 1930 (9) 324-A.36 Vertical and Incline Shaft Sinking at Arthur B. Foote San Francisco T30, 87 North Star Mine (21) Oct., 1929 32bA.37 Governmental Control of the Pro- W. E. Colby New York duction and Sale of Mineral Re- Feb.. 1930 sources (With Discussion) (16) 333-A.38 Some Recent Developments in Open- E. E. Hunner New York T30, 106, 117 pit Mining on the Mesabi Range Feb.. 1930 (25) 334-A.39 Mining Methods and Costs at Presi- V. D. Howbert El Paso dio Mine of American Metal Co. of R. Bosustow Oct., 1930 Texas (15) 339-A.40 Operation of Pressure Fans in Series W. 8. Weeks New York (8) V. 6. Grishkevich Feb., 1931 364-A.41 Top Slicing with Filling of Slices as H. Willey El Paso Used at the Charcas Unit of Com- Oct., 1930 pania Minera Asarco, S. A. (17) 373-A.42 Drill Sampling and Interpretation of H. T. Matson New York Sampling Results in the Copper G. A. Wallis Feb.. 1931 Fields of Northern Rhodesia (17)

Jan 1, 1930

By George F. Becker

A Nere record of Emmons's professional career would very inadequately represent the man. That he was eminent mc know, and our successors will realize in due time; but they must depend upon us for knowledge of a singularly ~vholesome, modest, unselfish personality, and of a character that did honor to a profession in which trustworthiness is indispensable. Those members of the Institute who met Emmons are his friends, and I never knew .one of these who was not the better for that friendship. Emmons was born in Boston, Mar. 29, 1841, the son of Xathaniel H. and Elizabeth (Wales) Emmons, and was named Samuel Frankliri after an ancestor who was of the sarne family as Benjamin Franklin. He took the degrcc of Bachelor of Arts at Harvard in 1861, and soon afterwards went abroad to complete his education. From 1862 to 1864 he attended the courses at the fieole Impkriale des Mines at Paris, Elie de Beaumont arid Daubrke being among his professors. The year 1864-1865 he spent at Freiberg under Cotta and other famous teachers; after which he spent another year in traveling through Europe. Like many other renowned geologists, he approached his ultimate profession from its economic side, and was thus from the first imbued with a sense of high responsibility in the promulgation of scientific opinions or conclusions. With hypotheses which were interesting merely because they were ingenious or even plausible, he would have nothing to do. In 1867 he joined the Geological Exploration of the Fortieth Parallel at its organization under Clarence King, serving at first as a volunteer, but soon receiving a regular appointment. This expedition was the first one of purely geological character sent out by the United States government. As Emmons has shown in his admirable presidential address on " The Geology of Government Explorations," its work was founded on a com-

Jan 1, 1912

By Louis G. Bailey

This paper .reviews some of the key developments which have been made in the synthesis of the III-V compound semiconductors and the associated progress in obtaining high-quality material for device development. The history of the investigation of the semi-conducting properties of these materials has indicated the need for synthesis techniques capable of producing rnaterial of high chemical purity and physical perfection. The progress in the area is described, and the present status of quality of several compounds is discussed. In addition, recent studies of localized epitaxial deposition of GaAs into semi-insulating GaAs substvates for the development of arrays of devices ave reviewed. In conclusion, some important areas for future research and developrnent are discussed. INTEREST in III-V compounds as semiconductors dates back to the period 1950 to 1952, when Goryunova, Ioffe, and, in particular, Welker determined that 111-V compounds were structural analogs of the group IV elements carbon, silicon, germanium, and tin and that they were also semiconductors.'-3 Since that time interest in the properties of these materials has ex- panded rapidly. During 1953 and 1954, the first reports of rectification, photoconductivity, and optical absorption in these materials came from several investigators. In 1955, recombination radiation from samples of GaAs, InP, and GaSb was reported by ~raunstein .' This radiation was produced by injected minority carriers from point and large-area contacts. From 1955 to 1960, efforts increased on preparing large, pure specimens of these materials for the study of basic physical phenomena and device exploration. By 1960, materials preparation and the understanding of the physics of some of the materials had advanced to where some very interesting and potentially useful phenomena came under study. The first observation of electric-field-induced changes in the optical absorption edge (Franz -Keldysh effect) of 111-V compounds was reported for GaAs by Moss in 1961.' In 1962 the study of recombination radiation advanced rapidly. Keyes and Quist6 and Pankove and Berkey-heiser7 reported high radiative efficientices obtained from recombination, and then the first injection electroluminescent lasers in GaAs were announced by Hall ef al.,' by Nathan et al.,O and by Quist ef al.,'O and in Ga(As, P) alloys by Holonyak and Bevacqua." Hil-sum has reviewed the early work leading to the first observations of laser action in GaAS." Recombination processes in GaAs, Gap, and the other 111-V com-

Jan 1, 1968

By C. EDWARD STAFFORD

A Discussion of the paper by Mr. James P. Roe which was read at the Washington meeting, May, 1905. MR. C. EDWARD STAFFORD, Chester, Pa.:-During all my business life, I have been engaged in the manufacture of Bessemer and open-hearth steels, but, during my long connection with the Shoenberger Steel Co. of Pittsburg, I had some experience in the manufacture of high-grade puddled iron for horse-shoes and in the making by Dr. Otto Wuth's process extremely pure low phosphorus puddled blooms (analyzing from 0.005 to 0.01 per cent. of phosphorus and sulphur), which were melted with low-phosphorus pig-iron in acid open-hearth furnaces to make extra locomotive fire-box steel. I have also seen the Dank's puddlers in operation at different times and places, notably where they were most successful, at the Otis Steel Works, Cleveland, Ohio; then under the management of our friend, Mr. S. T. Wellman. These Dank's blooms were made solely for open-hearth melting-stock to which they were well adapted ; the unavoidable presence of bits of ore-fix imbedded in the mass of the, metal always prevents the profitable manufacture of merchant iron from Dank's blooms. With the experience just described, I was to some degree in position to value fairly the means, methods and results of Mr. Roe's mechanical puddling from the metallurgical or technical and economic points of view, when given an opportunity by Mr. Roe to see his puddling furnace or machine in operation in Pottstown, Pa. Briefly, the furnace, with water-cooled bottom, is rectangular in plan, about 20 by 8 ft. in the clear, suspended by trunnions at the middle of the long sides, at a. height of 17 or 18 ft. above the general level; the oscillation (65° each way from the vertical) is accomplished by geared segments (attached to the downward-projecting side or trunnion-plates) with which engage pinions driven by a reversing engine. The whole section

Sep 1, 1905

Jan 1, 1880

By John E. Murphy, Ernest L. Ohle

Hematite-magnetite ore bodies at Iron Mountain, Missouri, have produced nearly 9 million tons of iron ore concentrates since 1844. The ore minerals occur principally as open-space filling in fractured and brecciated andesite porphyry with very minor replacement of the wall rocks. The enclosing rocks are Precambrian in age and consist of a series of dacite, rhyolite, and andesite flows aggregating about 2000 feet in thickness. All of the ore is in andesite and the mineralization is Precambrian in age. The shape of the ore bodies, the breccia character of the ore, and the gangue mineralogy are believed to be unique. One of the two main ore bodies is crudely dome-shaped with a tendency for development of concentric mineralized shells; the other is an elongated lense in plan but hook-shaped in cross section. Both have strong linear elements striking northeast, east-west, or northwest. Various modes of origin for the structures and for the tension breccias have been suggested, but none is completely satisfactory. Hematite is the main ore mineral; magnetite is subordinate. Important gangue minerals are andradite, quartz, calcite, actinolite, apatite, epidote, and chlorite. Although some evidence favors injection of an iron-rich melt, other evidence suggests ore formation by a high temperature, water-rich solution.

Jan 1, 1968

By Eugene McAuliffe

AS anthracite is no longer used to a marked extent by the rail- ways of the United States (1,513,000 tons in 1933), that portion of the mining industry engaged in the production of bituminous coal is, and will continue to be, the one chiefly concerned with the future use of its product by the railways. In a period such as the present, when all enter- prise is unsettled, when fundamental principles of industrial management and control are being swept aside or else changed overnight, it is difficult to predict what will happen. The relation between the total production of bituminous coal and the volume consumed by the steam rail- ways of the United States, Classes I,

Jan 1, 1936

By Norman Braly

THE following is not offered as an extended paper on the subject of shaft sinking, but more as a description of the present practice of shaft sinking in the Butte district. The Anaconda company is sinking at present the following shafts: Badger State, Moose, Mountain Consolidated, Mountain View, Pennsyl-ania and Tropic. At the High Ore and Leonard mines the shafts are being deepened by sinking two compartments and will subsequently be enlarged to the full working size by raising alongside the compartments which are now being sunk. The following other companies are also sinking shafts: Butte-Alex Scott, Butte and Zenith City, Boston and Corbin, North Butte Mining Co. (at the Granite Mountain shaft), East Butte Co. (at the Pittsmont shaft), and the Rainbow Lode Development Co. Shaft Timbering. The shafts of the Butte district, generally speaking, are of three compartments arranged in a straight line, and the pump compartment is usually arranged for the use of an auxiliary hoisting cage, as well as for carrying pipe lines and electric wires. The Rainbow shaft is practically square, and of three compartments. The length of the shafts outside of timber will vary from 17 to 22 ft., and the width from 6 ft. 6 in. to 7 ft. Fir timber is used in all shaft work. This may be obtained from the Coast, when it is known as Coast fir, or from Idaho or Montana, when it is known as native fir. The native fir seems to be the tougher wood, but it is hard to obtain clear lumber in the lengths and sizes necessary for shaft work. Some of the shaft timber of the Anaconda company has been treated with creosote as a preservative, but this practice has not come into general use, as the ground of the camp is so heavy that the timbers usually crush before they rot. The size of timber most .used for shaft work is 12 by 12 in., while 10 by 12 in., 10 by 14 in. and 12 by 14 in. are used for some of the special pieces around the shaft. The new Leonard shaft is timbered with 14 by 14 in. wall plates throughout.

Jan 8, 1913

By George Newton

When Mr. Bailey asked us to present a paper describing our new BOF shop, he requested that we avoid a presentation heavily laden with detail and statistics. Not only have we attempted to do this, but also we have prepared a number of colour slides which, hopefully, will provide you with a graphic conception of the facility. The installation of the BOF facility at the Steel Co. of Canada's Hilton Works was delayed many years because of the remarkable production growth of the oxygen open hearth furnaces in No. 3 shop. However, in mid-1960 it became strongly evident that not only would increased ingot capacity be required, but also that N0.2 shop - with vintage non-oxygen open hearth furnaces - would have to clean its stacks in the near future, or be closed down. A decision to embark on the BOF facility was made in 1967 after an extended period of in-depth planning and assessment of industry trends.

Jan 1, 1972

By Thomas T. Read

The purpose of the following research, as originally planned, was to investigate the influence of temperature upon the plate¬amalgamation process. In order to consider the amalgamation process intelligently, it was first necessary to learn the nature of an amalgam. In the performance of this task it was found necessary to consult a large volume of literature and to perform experimental investigations. The conceptions of the nature of amalgams thus obtained have so important a bearing on the amalgamation-process as a whole, as well as upon the possible influences of temperature, that it was advisable to include them in the treatment of the subject. The broader title is therefore used, even though some features of the amalgamation process have been treated very briefly and others entirely omitted, there being nothing new to present regarding them and their development not required for a clear presentation of the matter in hand. I. HISTORICAL INTRODUCTION. Gold was one of the earliest metals known to man. Occurring in the metallic state, it could be picked up in nuggets or washed, as gold dust, front the sand and gravel of streams. Interesting descriptions of the processes employed in early times for the recovery of gold may be found in Pliny's Natural History and in the treatise by Agricola on ores and minerals. But little progress in the treatment of the ores of gold was possible until efficient -crushing machines were devised. This want was supplied by the introduction, about the beginning of the sixteenth century, of the stamp mill to treat the ores of Saxony. Blanket strikes, or similar devices, were used to catch the

May 1, 1906

By Edward L. Wilson, Keshavan Nair, Ranbir S. Sandhu

In planning and designing of underground excavations and construction, it is of considerable importance that the stresses and displacements in the rock mass subjected to arbitrary sequences of unloading and loading be within allowable limits. For determination of the stress and displacement fields, the usual approach is to treat the rock as an elastic material and to apply the principles of the theory of elasticity. However, analytic solutions are available only for a limited class of problems of simple geometry and idealized material properties. Nonhomogeneity and anisotropy of material coupled with complex geometrical configuration and initial stress fields that are almost always preexistent in rock masses at great depths, render the problem intractable by analytical methods. Approximate solution techniques using numerical procedures have, therefore, to be resorted to. The finite element method as applied to plane stress analysis was introduced by Clough.1 It has developed into a powerful tool for the analysis of various field problems in structural and continuum mechanics. The method is well documented in the literature2-6 and, therefore, its historical development will not be discussed here. Wilson's analysis of the plane stress/strain problem has found extensive use in the area of soil and rock mechanics including stresses around underground openings; stresses and displacements in dams, foundations, etc.7-11 In his analysis of the axisymmetric solid,3 Wilson proposed a procedure to allow for certain cases of nonlinear material properties. In this chapter, the develop-

Jan 1, 1972

By E. R. Johnson

The copper concentrator of the Braden Copper Co. is at Sewell, Chile, on the westem flank of the main Cordillera of the Andes, at an air distance of approximately 50 miles southeast of Santiago, the capital of Chile. The region is mountainous and space is at a premium because of the rough terrain and the danger of snowslides. The ore, a porphyry copper, is mined by a block-caving method in the El Teniente mine. It is hauled to the crushing plant, a distance of 2.6 miles, through a tunnel because of the severe climatic conditions. The usual large, coarsely set, primary reduction machines found in many ore-treating plants are not required because of the mining method employed and the limiting 12-in. spacing of the grizzlies at the head of each ore pass in the mine. It is the purpose of this paper to describe the numerous improvements made in the crushing section of this large flotation concentrator during the past I5 years to increase the efficiency of the plant and to raise the daily output from around 20,000 to 30,000 tons. The reader should keep in mind that all changes were made within the existing building because of the limited space and the high cost of the heavy mill construction required to withstand the snow loads. The present plant, as well as the former, operates on a 24-hr, 7 days a week basis. The crushing plant commenced operations at its present site in 1921, the main equipment being No. 7½ gyratories, followed by 48-in. horizontal Symons disk crushers. Fines were removed by I-in. stationary grizzlies ahead of each unit. In 1924 a third stage of crushing was provided by the addition of 55½-in. rolls in open circuit. During 1925, the Symons disks were replaced by 73½-in. rolls. All the rolls were changed to closed circuit, with elevators and screens to give a final product of 9 pct plus 3-mesh. The flowsheet of a typical crushing section of this period is shown in Fig I. The ore was withdrawn from a common bill serving the five crushing sections in the plant by means of any number up to six 36-in. wide-apron feeders, which discharged onto a common conveyor belt. This conveyor was equipped with a magnetic head pulley and the crusher attendant was stationed near the discharge end to pick out pieces of mine timber that might be in the ore. The ore was discharged over a 13/4-in. spaced bar grizzly and the oversize of this grizzly was crushed by a No. 7½ McCully gyratory crusher set at 13/4-in. opening on the closed side. The grizzly undersize joined the gyratory discharge and was conveyed to a set of 73½ by 20-in. Garfield rolls set at I in. These rolls operated in closed circuit with a bucket elevator and two vibrating screens placed in parallel.

Jan 1, 1949

By W. I. Duvall, L. D. Sadwin

Three explosives with different detonation characteristics were tested by studying their cratering ability in a granite-gneiss. The strain wave generating characteristics of these explosives were also studied in the same rock medium. Correlations between the relative performance of three explosives as evaluated by crater studies and other methods of evaluation are indicated. Numerous test methods have been employed to evaluate the output performance of explosives; for example, the underwater explosion method, the airblast method and the ballistic pendulum method.'*' For blasting applications, the study of explosion produced craters and explosion generated strain waves are the most meaningful. This laboratory has employed these techniques extensively for many years and has shown that the detonation properties of explosives and their ability to generate strain waves in rock are related and that the amplitude and shape of the strain wave is related to some of the crater parameters such as slab thickness and fly rock velocity.3'11 However, a good comparison between the relative performance of explosives as determined by the crater and strain wave methods had not been made. The purpose of this investigation was to determine if the relative performance of three explosives as determined by the crater method shows a correlation with the relative performance as determined by the strain wave method. If a good correlation exists between these two sets of relative performance, it should then be possible to relate the detonation properties of an explosive to its ability to break rock in a crater test. In most commercial blasting operations, the diameter of the blast hole remains constant even though the type of explosive may change. In general, it is the explosive volume rather than the weight which remains constant when two or more explosives of different density are compared. Therefore all tests in this investigation were conducted on a constant volume basis rather than on a constant weight basis. TEST SITE AND ROCK PROPERTIES The tests described in this paper were conducted at a granite quarry owned and operated by the Consolidated Quarries Div. of the Georgia Marble Co. at Lithonia, Ga. The tests were performed in an area where the exposed rock surface was nearly horizontal and where the general rock mass had few joints or faults. The rock has an apparent sp gr of 2.6 and a longitudinal propagation velocity of 18,000 fps. The characteristic impedance of Lithonia granite gneiss is 53(lb - sec/in3). EXPERIMENTAL PROCEDURE There are many parameters which must be considered in the study of explosion-produced craters. The role played by each variable in the explosive-rock-crater system can be determined by experimental techniques in which one parameter is varied while others are maintained constant. In this investigation, the crater geometry was studied as the depth was varied for each of three explosives. The explosive volume and rock-type were held constant for all crater tests. The experimental arrangement used in performing the crater tests is illustrated schematically in Fig. 1.

Jan 1, 1965

Idaho Bureau of Mines and Geology, University of Idaho, Moscow, Ida. John W. Finch, Director. A list of publications will be sent upon application. A series of Bulletins and Pamphlets have been issued by the Bureau to date since 1920 Of the Bulletins, six are out of print, and a charge is made for eight. Each of the Bulletins, in the main, treats of the geology and resources of a particular district in Idaho, as follows (only available Bulletins listed): Bulletin 1, South central Idaho (1920), 15 cents, 7, North central Idaho (1924), 50 cents, 8, Bonneville, Bingham and Caribou counties (1924), 50 cents, 9, Boise Basin (1924), 50 cents; 10, Boundary County (1926), 50 cents; 11, Region about Silver City (1926), 50 cents; 12, Clark Fork district (1930), 50 cents, 14, Eastern Cassia County (1931), 50 cents, Press Bulletin 15, Teton County (1927), Bulletin 16, Melon Valley near Buhl (1927); 17, Concerning land slips near Whitebird, Idaho (1928) The 37 Pamphlets are issued free of cost, and each treats, also, in the main of the geology and resources of a particular district in Idaho Nos 1, 2, 3, 4, 5, 7, 8, 10, 17, 18, 20, 22, 25, 26, 30 and 35 are out of print Of those available, attention may be called to Pamphlet 6, Reported platinum occurrences near Coeur d' Alene (1925), 11, Bruneau River Basin, 12, Power and Oneida

Jan 1, 1933