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By Thomas Wilson

IN a single-crystal cube of iron the arrangement of the atoms is that characteristic of iron at room temperature: the body-centered cubic lattice. X-ray investigation has shown this structure to be characteristic of iron, as it has shown the atomic arrangement of other metals to be characteristic of those metals also. Rarely do substances have more than one characteristic atomic arrangement. Many physical properties of metals are directly connected with their atomic arrangements, so that changes of arrangements produce changes of properties. Only chemical change influences atomic arrangement. If a difference in the physical properties of a metal is caused by a process which involves no chemical change, the cause of the difference in properties must be sought elsewhere than in the atomic arrangement. Frequently this cause can be traced to alteration of crystal orientation. The orientation of a crystal may be defined as the relationship which the crystallographic axes bear to some quantity of reference. A cube of iron appears cubic whether it is regarded from a face, an edge, or a corner. Yet these three positions represent three different orientations of the cube with respect to the observer. It is evident that the orientation of this cube of iron, unlike the atomic arrangement, is not characteristic of iron but is entirely dependent on the previous history of the cube. Most of the processes of metal working, such as wire-drawing, rolling, and bending, change the orientation of the crystals present in the worked metals. These processes usually tend to produce rotation of the crystals into positions approaching a mean. Specimens of metals show-ing this characteristic are said to possess a preferred, orientation. Tensile strength, ductility, and many other properties are influenced by orientation changes; therefore two specimens of the same metal may show different values of these quantities. In metal specimens possessing a narrowly limited preferred orientation, these quantities will vary in magnitude in different directions throughout the specimens. The investigation of the influence of manufacturing operations upon crystal orientation, and hence upon physical properties of metals, is an important

Jan 1, 1929

By L. L. Wyman

Since the presentation, by the writer, of the initial paper on the embrittlement of copper,1 the subject has been investigated further along two separate lines. The first series of investigations involves the "double-deoxidized" coppers, while the second series is devoted to single deoxidizers other than those used in the investigations reported upon last year. The object of these experiments is to develop a type of copper that will show the minimum of detrimental effects after having been exposed to alternate oxidation and reduction. The fabrication of this material necessitates the use of alternate oxidizing and reducing atmospheres, at temperatures ranging up to 900" C. Following this treatment it is essential that the soundness and strength of the copper be unimpaired, even in sections of only a few thousandths of an inch in thickness. Materials The ensuing report embodies three separate groups of materials, which may be classified as follows: 1. Double-deoxidized copper using silicon and calcium boride. 2. Copper deoxidized with calcium. 3. Double-deoxidized copper using constant calcium content (0.075 per cent) plus silicon, or calcium boride. Last year, T. S. Fuller, of the General Electric Research Laboratory, suggested that if a properly deoxidized copper had sufficient deoxidizer residual in the material, this excess material might increase the resistance of the copper to the oxidation reduction cycle. In consequence of this suggestion, two small lots of "double-deoxidized" copper were prepared. The first, lot A, was made by adding 0.03 per cent silicon as the deoxidizer, following this by an addition of 0.55 per cent calcium boride immediately before pouring. The second, lot B, contained the same ingredients, but these were added in the reverse manner. Inasmuch as these lots were tested separately from the materials about to be described, it must be borne in mind that the materials cannot be grouped together, and are not directly comparable.

Jan 1, 1933

Table

Jan 1, 1910

By W. S. Landis

IN brief, this is the story of an attempt to Americanize a process originally developed in Europe. The story will be recited in two sections, the first dealing with the process as developed by the European engineers; the second containing the improvements and modifications of American origin, together with some details of the operating results of the unit as finally assembled. Developments in other directions in this same field have not, up to the present, pointed out an economic future for the process, therefore our record here is largely a report of development progress. Whether some particularly favorable location will be found at some future time for a commercial installation cannot as yet be fore-told. The project is now at a standstill. The peculiar tools of the electrometallurgist should be of great interest to the zinc smelter. The low thermal efficiency of the zinc retort, its comparatively small-scale unit and its intermittent cycle as it stood in 1925, should make this art a particularly fertile field for the electric fur-nace. Yet in spite of years of work recorded in volumes of literature, and an expenditure of large sums of money, there is not a single electrothermic zinc smelter operating anywhere in the world. In this industry the electric furnace plays only a secondary part today.

Jan 1, 1936

By Joseph C. Mead, James R. Cudworth

THE Birmingham district of Alabama has utilized the slag from its blast furnaces consistently since the earliest development of the slag industry. Today there are producers of slag cement who started business in 1900, and who have, under a progressive policy, expanded the number of their products to meet present demands. There are producers of slag aggregates and other crushed slag products who have been successful for periods of over thirty years. There are at the present two companies, Cheney Lime and Cement Co. and the Southern Cement Co., manufacturing puzzolan cement; two companies, Birmingham Slag Co. and Woodstock Slag Co., making slag aggregates and by-products; one company, Tennessee Coal, Iron and Railway Co., a subsidiary of the U. S. Steel Corporation, producing ground open-hearth basic slag for soil conditioning. Two companies, the Sloss Sheffield Steel and Iron Co. and the Woodstock Slag Co., make slag concrete in ready-mix plants and one company, the Superock Company, manufactures fine and coarse slag aggregates under a new granulation process. No Portland cement is made with slag as an ingredient, because dolomite is used so extensively as a blast-furnace flux that the magnesium content of the slag is excessive. Sources Of Slag In the Birmingham district there are 22 blast furnaces, of which the majority are in blast. The present production is 165,000 tons of pig iron monthly; the production in 1935 was 1,297,960 gross tons1. There are also two blast furnaces at Gadsden and one ferroalloy electric furnace at Anniston. From these two sources is obtained slag to approximately 1.1 tons per ton of pig iron.

Jan 1, 1937

By J. D. Shaw, E. B. Gebert, D. O. Noel

It is, of course, expected that manufacture of the various metal powders should involve numerous methods adapted to the specific characteristics of the metals themselves. Several methods for powdering a particular metal may be available, but the physical characteristics of the powder as produced by the several methods may be quite different. In the final analysis, the application of the metal powder dictates the physical properties that the metal powder must possess, and this, to a very large extent, will determine which of several possible methods of manufacture is adopted. Sometimes powder of the same metal is produced by more than one method, each powder having specific characteristics that make it particularly suitable for its application. For purposes of classification, the various methods of powdering metals can be grouped as follows: 1. Machining. 2. Milling (by ball mills, stamps, attrition mills, etc.). 3. Shotting (pouring molten metal into water, air, etc.). 4. Granulation (by stirring molten metal while solidifying). 5. Atomizing (disintegrating by steam, compressed air, etc.). 6. Condensation of metal vapor. 7. Reduction of oxide powders. 8. Chemical precipitation. 9. Electrolytic deposition. 10. Sintering (for producing alloy powders). 11. Formation of an alloy followed by dissolving or otherwise removing one of the alloying constituents. Machining Turnings, cuttings, filings, etc., are, of course, produced as by-products in machine work of various kinds, and find certain applications as metal powders. For example, iron powder so produced is used extensively as a reducing or precipitating agent and as a constituent in certain hard-finish cements.

Jan 1, 1938

By D. O. Noel, E. B. Gebert, J. D. Shaw

It is, of course, expected that manufacture of the various metal powders should involve numerous methods adapted to the specific characteristics of the metals themselves. Several methods for powdering a particular metal may be available, but the physical characteristics of the powder as produced by the several methods may be quite different. In the final analysis, the application of the metal powder dictates the physical properties that the metal powder must possess, and this, to a very large extent, will determine which of several possible methods of manufacture is adopted. Sometimes powder of the same metal is produced by more than one method, each powder having specific characteristics that make it particularly suitable for its application. For purposes of classification, the various methods of powdering metals can be grouped as follows: 1. Machining. 2. Milling (by ball mills, stamps, attrition mills, etc.). 3. Shotting (pouring molten metal into water, air, etc.). 4. Granulation (by stirring molten metal while solidifying). 5. Atomizing (disintegrating by steam, compressed air, etc.). 6. Condensation of metal vapor. 7. Reduction of oxide powders. 8. Chemical precipitation. 9. Electrolytic deposition. 10. Sintering (for producing alloy powders). 11. Formation of an alloy followed by dissolving or otherwise removing one of the alloying constituents. Machining Turnings, cuttings, filings, etc., are, of course, produced as by-products in machine work of various kinds, and find certain applications as metal powders. For example, iron powder so produced is used extensively as a reducing or precipitating agent and as a constituent in certain hard-finish cements.

Jan 1, 1938

By W. F. Stowasser

downdraft traveling grate process to agglomerate pelletized iron ore concentrates has been successfully demonstrated in a pilot plant at Carrollville, Wis. Work there followed several years of development in the Allis-Chalmers Mfg. Co. laboratories, and the pilot plant phase was carried out in cooperation with Arthur G. McKee & Co., consultants and engineers to the iron and steel industry. End result of the process is conversion of iron ore concentrates into a form which can easily be transported and smelted in the blast furnace. Process Description The first of two process steps incorporates the art of balling and prepares the concentrates for burning. The second step consists of burning the green balls on the grate machine to the hardness required for shipping and handling purposes and for reduction in blast furnaces, see Fig. 1. Facilities are provided at the pilot plant to receive carload quantities of concentrate. The concentrates are loaded into a 50-ton bin direct from railroad cars. Because of the variable moisture content of the concentrates after shipment in an open railroad car it is necessary to repulp and refilter the concentrates to maintain a uniform and proper moisture content for the balling operation. Concentrates are conveyed to slurry tanks, and the slurry, at 50 to 60 pct solids, is pumped to a 4x4-ft drum filter. The filter provides feed of uniform moisture to the plant. Magnetite concentrates are normally filtered to produce a cake containing about 10 pct moisture, a necessary requirement for the following balling operation. The filtered concentrate is conveyed to a rotary bin table feeder which acts as a surge bin for the filter cake and delivers a steady flow of concentrates to the balling drum. It is often desirable to make additions to the concentrates as they are fed to the balling drum. These additives, such as bentonite, increase the strength of the finished green pellet and improve ballability of the concentrate. A vibrating feeder supplies additive to the feed belt, and the additive is mixed with the concentrate in the balling drum. The balling drum, shown in Fig. 3, is 8x3-ft diam. An oscillating cutting bar maintains the lining in the drum by trimming off the buildup of excess concentrate as it forms. The drum is operated in closed circuit with a lx4-ft rod-deck vibrating screen. Undersize pellets or seed pellets from the screen are returned to the balling drum until they grow to the desired size. Size of pellets is controlled by the opening in the screen deck. The formation of pellets in the balling drum is affected by many variables. Some of these are: the size distribution of the feed, the particle shape of the concentrate, the feed rate to the drum, the moisture in the concentrate, the speed of rotation of the drum, the slope of the drum, and the type of trimming obtained with the cutting bar. In this process, attempts are made to control the pellet size within the limits of % to 5/8 in. diam. The screened oversize pellets are conveyed under a coal feeder where sufficient powdered coal is added to the belt to produce desired results in the burning process. The top size of the coal successfully used has been 20 mesh, and anthracite was used in the test program. Fig. 4 illustrates the vibrating screen and the coal feeder. The pellets and free coal are conveyed together to the 5x3-ft diam- reroll drum that rolls the coal onto the surface of the pellets. This drum is also equipped with a cutting bar. The prepared pellets, containing bentonite, water, and surface coal, are elevated to the traveling grate, which consists of a continuous strand of 37 pallets. Each pallet, with a grate bar area 2 ft wide by 1 1/2 ft long, has 14-in. high side plates, Fig. 5. Feeding and distribution of the green balls to the grate is handled by a short conveyor which oscillates back and forth across the 2-ft width of the grate. An adjustable vertical plate located several inches in front of the head pulley of the oscillating conveyor controls the height of the bed and levels the moving bed of pellets. This method of feeding prevents segregation of various size pellets as well as fines and produces a uniform, permeable bed. The pallet train moves under the furnace and across four windboxes, located beneath the pallet frames, see Fig. 2. As the green pellets are deposited on the grate, partial drying of the pellets begins over a 2-ft long updraft windbox. The low temperature air reduces the moisture in the pellets in the lower level of the bed and this operation is essential to prevent sagging of the bed during later stages of the Process. The air used for this drying is recuperated from cooling the pellets on the grate, and supplemental heat, required for starting the Process, is obtained from an auxiliary burner. The pellets are then moved by the grate into the furnace and over an 8-ft windbox, designated as the downdraft waste windbox. Products of combustion are exhausted from this windbox to atmosphere. The furnace, shown in Fig. 6, is constructed with three chambers to provide downdraft drying, preheating, and ignition, respectively, to the pellet bed as it passes through. Overall length of the furnace is 5.57 ft; however, the exterior wall ends may be moved to reduce the length and also adjusted to Obtain the bed height desired, The drying, preheating, and ignition sections of the furnace are supplied with medium temperature

Jan 1, 1956

Jan 1, 1934

New Products Equipment

Jan 8, 1951

By JOHN BIRKNBINE

MR. NEILSON was born Aug. 12, 1842, at Philadelphia, Pa., where he died Dec. 30, 1906. His business career began with his graduation, in the class of 1862, from the Polytechnic College of the State of Pennsylvania. For a short time after graduation he was instructor in mathematics at the college, and then became associated with Messrs. Booth & Garrett, chemists, of his native city: In 1867 he was sent to the Adirondack mountains to care for mining interests of the late Jay Cooke, and spent about three years there, operating the forges at Elizabethtown, Essex county, N. Y. He also prepared an interesting monograph on Catalan forges and their operations. In 1868 he published a chart showing the material progress of the United States, and the cost of certain staple products during a series of years, which is believed to be the first of its kind issued in this country. In 1870 he made a trip to the Pacific Coast, prior to entering the service of the Pennsylvania Steel Company. In 1871, when the Logan Iron & Steel Co., of Burnham, Pa., failed, Mr. Neilson was appointed receiver, re-organized the company, became' its General Manager, and spent more than four years in this work. In the meantime, he became interested in the Freedom forge of the same place, and, with Mr. Wm. Burnham and Mr. Milton Brosius, laid the foundations for what is now the Standard Steel Works. From Jan. 1, 1877, to April 1, 1890, he was General Manager of these works, and closely associated with the Baldwin Locomotive Works. In 1878 he was in charge of the first consignment of Baldwin locomotives to Europe, which, with a picked crew of men from Baldwin's, he took to Eydtkennen, Russia, and placed in service. In 1890 he resigned from the Standard Steel Works and ac-

Jul 1, 1907

By A. M. Kivari

Operations at the cement plant of the Permanente Corporation, in the hills about 45 miles south of San Francisco and 12 miles west of San Jose, are interesting to the members because of the adoption of modern hydrometallurgical methods for handling and beneficiating raw materials. Closed-circuit grinding, classification, hy-droseparation, flotation, agitation, and thickening are familiar terms at this cement plant. These methods make it possible to process refractory limestone into suitable materials for the mallufacture of modern cements. Construction of the plant, having originally a design capacity of 7000 bbl. of cement per day, was started in June 1939, and the first clinker was ground on the following Christmas Day. At present the capacity is about 12,000 bbl. of finished cement per 24 hr., most of the production being low-heat cement. † About 3I30 tons of limestone, 620 tons of clay and I00 tons of gypsum are required daily for this output. Occasionally iron oxide is added to the clay to obtain the desired composition. This, together with the gypsum, is purchased from outside sources. up to the present time, the ccrporation has produced low-heat, normal, moderate-heat, moderate-sulphate-resisting, high-early-strength, oil-well, modihed-oil-well, and plastic cements. Most of the present production is for Shasta Dam, near Red- ding, Calif., the total demand being 5,800,000 bbl. of cement. Following are some of the cement require ments of the Shasta Dam specifications: Per Cent Chemical composition: Loss in ignition.......... 2.25 Insoluble residue......... 0.75 SO3.................... 2.25 MgO................... 5.'' Uncombined lime in clinker (CaO)......... I.25 Percentage of iron oxide to alumina ratio....... I.5 Compound composition: Tricalcium silicate (3CaO.SiO2)........... Not more than 35 Dicalcium silicate (zCaO.SiO2)........... Not less than 40 and not more than 65 Tricalcium aluminate (3CaO.Al2O3).......... Not more than 7 Tetracalcium aluminofcr- rite (4CaO.Al²O³.Fe²O³) Not more than 20 Fineness: The average specific surface in the bin sampled shall be not less than 1800 sq. cm. per gram and no individual sample less than 1600 sq. centimeters. Compressive strength: The average compressive strength in pounds per square inch of three mortar cubes composed of one part cement and 2.75 parts fine testing sand, by weight, shall be equal to or greater than the following:

Jan 1, 1942

By A. M. Kivari

Operations at the cement plant of the Permanente Corporation, in the hills about 45 miles south of San Francisco and 12 miles west of San Jose, are interesting to the members because of the adoption of modern hydrometallurgical methods for handling and beneficiating raw materials. Closed-circuit grinding, classification, hy-droseparation, flotation, agitation, and thickening are familiar terms at this cement plant. These methods make it possible to process refractory limestone into suitable materials for the mallufacture of modern cements. Construction of the plant, having originally a design capacity of 7000 bbl. of cement per day, was started in June 1939, and the first clinker was ground on the following Christmas Day. At present the capacity is about 12,000 bbl. of finished cement per 24 hr., most of the production being low-heat cement. † About 3I30 tons of limestone, 620 tons of clay and I00 tons of gypsum are required daily for this output. Occasionally iron oxide is added to the clay to obtain the desired composition. This, together with the gypsum, is purchased from outside sources. up to the present time, the ccrporation has produced low-heat, normal, moderate-heat, moderate-sulphate-resisting, high-early-strength, oil-well, modihed-oil-well, and plastic cements. Most of the present production is for Shasta Dam, near Red- ding, Calif., the total demand being 5,800,000 bbl. of cement. Following are some of the cement require ments of the Shasta Dam specifications: Per Cent Chemical composition: Loss in ignition.......... 2.25 Insoluble residue......... 0.75 SO3.................... 2.25 MgO................... 5.'' Uncombined lime in clinker (CaO)......... I.25 Percentage of iron oxide to alumina ratio....... I.5 Compound composition: Tricalcium silicate (3CaO.SiO2)........... Not more than 35 Dicalcium silicate (zCaO.SiO2)........... Not less than 40 and not more than 65 Tricalcium aluminate (3CaO.Al2O3).......... Not more than 7 Tetracalcium aluminofcr- rite (4CaO.Al²O³.Fe²O³) Not more than 20 Fineness: The average specific surface in the bin sampled shall be not less than 1800 sq. cm. per gram and no individual sample less than 1600 sq. centimeters. Compressive strength: The average compressive strength in pounds per square inch of three mortar cubes composed of one part cement and 2.75 parts fine testing sand, by weight, shall be equal to or greater than the following:

Jan 1, 1942

By C. W. Parmalee

The ideal fuel for burning ceramic wares is the one that, among other characteristics, has little or no sulfur. For that reason wood was long considered the most desirable fuel but its high cost has practically eliminated its use except in regions where it is very abundant or other circumstances warrant its choice. The fuels commonly employed are natural and producer gas, oil, and coal. The last named is undoubtedly the most important, not only in this country but abroad. Occasionally anthracite is used but the larger part is bituminous. The quality of the coal used depends on the kind and the value of the products being manufactured. For some materials, such as common brick, hollow block, etc., the quality of the coal is of less importance than in the manufacture of polychrome terra cotta, pottery, porcelain, etc. It is obvious that in burning clays that contain notable amounts of pyrite, marcasite or gypsum, as is the case with many common clays, the sulfur content of the fuel is of much less importance. The permissible amount of sulfur in the coal used will depend on the kind of product being manufactured. "A good sample1 of coal commonly used in pottery ovens has something like this quantity of sulfur: total sulfur, 1.20 per cent.; sulfur in ash, 0.11 per cent.; volatile sulfur, 1.09 per cent." This is based on English pottery practice. Correspondence with a. number of leading manufacturers in this country has produced the following figures: Sanitary Ware.—(a) 1.0 per cent, maximum, (b) 0.5 per cent. Sewer Pipe.—(a) 1.2 per cent., (b) 1.1 per cent, present run, 3.0 per cent, has been used. Terra Cotta.—(a) 0.5 per cent, basis of contract, 1.0 per cent, approximate. Pottery.—1.0 per cent, contract, 1.5 per cent, probable content. Enameled Brick.—1.3 per cent, maximum, (a) and (6) designate different firms giving figures. Since a pottery kiln for sanitary ware will require about 14 tons of coal for a bum, the quantity of SO2 that will be generated from a 1-per

Jan 1, 1920

Jan 1, 1937

After the close of the Revolution, settlers began to pour over the mountains, to settle in the western parts of Pennsylvania, of Virginia, to move down the Ohio into Kentucky, and in the late seventeen-eighties to settle on "the Indian side" of the river, now Ohio. With the growth of population the interest in coal increased and it was not long before the production of coal west of the mountains was larger than that east of them. Foreign nations, too, became interested in the young republic and in 1783, at the instance of the Swedish government S. A. Hermelin, an engineer, visited this country to investigate its iron industry. He made a very interesting report, not published until 1931, in which he gave many details of the iron plants in the eastern United States; apparently he was not west of the mountains, but was well informed about conditions there. He says, "that some coal near the first branches of the Schuylkill River has been mined and utilized by the blacksmiths," referring, of course, to anthracite; again that "coal mines have also been worked for several years near Pittsburg," and that "great supplies of iron ore are available at the Ohio Falls and further to the west, at Coney Creek, a part of the Green River, where there is also coal."' In 1788, Dr. Johann David Schoepf, who came to this country with the Hessian troops, visited Pittsburgh. He was an intelligent man and acquainted to some extent with minerals and methods of working them. In speaking of Coal Hill on the south side of the Monongahela he mentioned several strata of marble in the lower part and that

Jan 1, 1942

By R. S. Kinasevich, D. D. Crabtree, D. W. Fuerstenau, T. P. Meloy, A. L. Mular

This paper presents details of the concept that size reduction in comminution machines takes place by three mechanisms; namely impact, abrasion, and chipping grinding. Experimental evidence is presented to show that each of these comminution mechanisms produces particles of a characteristic size distribution. The actual product from a comminution device has been postulated to be the result of a composite of these three types of mechanisms. Composite curves are demonstrated for a material following the Gaudin-Schuhmann, Gaudin-Meloy, and Rosin-Rammler size distributions. About forty years ago, Gaudin1 showed that grinding may be considered a combination of impact and attrition. Since that time, major efforts have been devoted to studies, both experimental and theoretical, of impact and compression fracture, while attrition has been almost wholly neglected, at least quantitatively. A significant attempt to distinguish between attrition and impact grinding is the work of Tanaka2 in Japan. By means of an instrumented abrasion grinder and a drop weight device, he determined coefficients relating the increase in surface area of various materials to the energy expended by the two methods of comminution. He showed that physical properties of a material determine its response to attrition and impact grinding. By extending his ideas to ball milling, he concluded that to a large extent the basic comminution process in a ball mill is due to the impact of falling media. Because Tanaka used a mass of particles in his drop weight device, however, he did not obtain pure impact size reduction. The purpose of this paper is to define basic mechanisms of size reduction, to verify that each has a characteristic and meaningful distribution curve, and to show how a combination of these mechanisms results in a size distribution very like that produced by grinding mills. DEFINITION OF COMMINUTION MECHANISMS The product from a grinding device will be considered to be the sum of the contributions resulting from the action of three basic mechanisms of size reduction which operate in a ball and rod mill. These are impact grinding and two forms of attrition, namely abrasion grinding and chipping grinding. Each is defined below. Impact Grinding: If a straight line is obtained when the cumulative weight fraction finer than a given size is plotted on log-log paper as a function of that size, the slope of the line is defined as the distribution modulus. A number of investigators 3,4,5 have shown that impact fracture of single specimens of different composition and shape results in a distribution of daughter particles that exhibit a distribution modulus of unity. This has also been true for materials broken in slow compression. Moreover, under slow compression or impact fracture conditions, theoretical distribution equations6*' which approximate the Gaudin-Schuhmann distribution when the distribution modulus is close to unity agree reasonably well with the experimentally obtained products. If one now considers a comminution process where many impact or compression fracture events are taking place, then any rational summation of the individual events yields, in the finer size range, a Gaudin-Schuhmann distribution whose distribution modulus is also unity. If the size distribution of the product from a mill has a distribution modulus of unity, it is implied that particles are fractured in a manner which results in a comminution event having a distribution like that obtained for the breakage of single specimens. These impact events would occur when a particle is smashed between balls or between a ball and the mill liner. Attrition, on the other hand, is that form of grinding which cannot be called impact grinding, and comprises both abrasion and chipping grinding. Abrasion Grinding: Abrasion is a form of surface wear resulting when particles rub against each other or against balls or the mill liner of a tumbling mill, somewhat like a piece of wood being rubbed over a piece of sandpaper. The surface wears at a more or

Jan 1, 1964

By E. R. Kaiser

COAL research during 1942 was directed in an important degree toward the solution of problems of wartime importance. A wider selection of coals for carbonization to meet the increased demand for coke, and the improved utilization of lower-grade coals for boiler fuel were made possible by fundamental studies on cod and ash behavior that had been started several years ago. The coal industry's interest in the work of the various laboratories brightened significantly as results were demonstrated on smokeless combustion in stoves, on stokers without coke trees, and on pulverized firing of forge furnaces. Despite the limitations of priorities and scarcity of materials, the mineral industries building of the West Virginia University was completed and equipped with facilities for research on coal min

Jan 1, 1943

By Carl L. Renzoni

INTRODUCTION This paper defines equity as the issuance of a permanent interest in the business on a broadly distributed basis. As such, it excludes the issuance of equity to either a merchant bank or to another corporation. Nearly twenty years ago the equity markets were very simple: The instruments used were primarily common shares, convertible debentures or convertible preferred shares. Another equity-type option often used, especially by junior companies, was the sale of joint venture interests. Issue sizes were generally in the order of $25 - $100 million and issues were syndicated primarily in North America and Europe by one or two investment dealers. Mining corporations today benefit from a market with much more depth. Issues are syndicated by dealers on a truly international basis, and issue sizes now often range up to $300 million. Moreover, dealers are now willing to take significant risk in buying the issues for redistribution. This discussion of trends in equity markets will encompass: 1) common shares 2) warrants to buy common shares 3) convertible debentures 4) commodity backed instruments A review follows of events that affect the mining industry and investment dealers as they have a bearing on the equity markets for the metal producers. FACTORS AFFECTING THE MINING INDUSTRY The current business cycle, up to October 1987, had been characterised by a buoyant stock market and depressed base metal prices. Mining companies entered this period with weak balance sheets and little prospect of cash flows meeting capital needs. The issuance of equity and the sale of assets were used extensively to reduce debt to manageable levels. During this period, the relative high price for gold, and more important, the very high earnings and cash flow multiples afforded to gold producers, caused companies to target gold as the only game in town. The need for capital to acquire and develop gold properties prompted an unprecedented volume of equity issues. (Burns Fry led or co-managed over $1 billion of mining equity issues per year during this period). This high demand for equity capital by the industry prompted an increase in the use of equity instruments, such as commodity backed instruments. In addition, government tax incentive programs in Canada, such as flow-through shares, allowed smaller companies to raise significantly more equity than would otherwise have been possible. Over $1 billion in flow-through equity was raised in 1987 alone. The abundance of flow-through capital in Canada made it easy to form a new company. One flow-through share fund developed a system of providing the working capital required for a company to be eligible to receive flow-through share capital so that an entrepreneur required only a mining property to get started. Many new companies were formed and several flourished in a buoyant stock market environment to the point that market capitalizations grew to $100 million or more. The current period is in stark contrast to that before October 1987. The equity markets are generally available to the resource industry only on a window basis and only for senior companies and for special situations. The industry is benefitting from buoyant metal prices, and bankers are anxious to provide debt capital. Investment dealers previously processing several equity issues

Jan 1, 1990

By N. A. Elmslie

This subject covers much ground, therefore it must be treated in a general way rather than in detail in this paper. Personnel To approach the measure of a mine, it is, of course, essential that the personnel be measured, and this measuring must be done in a circumspect manner and conclusions must be reached slowly. There may be one unit in the personnel of an organization that may be out of step with the remainder of the organization, not always because of lack of ability, but because of misplacement or lack of proper measurement of his capabilities. Too much time can scarcely be spent in the study or measure of the personnel ; in fact, a manager or a superintendent of a mine never completes his work along this line. Mine or Plant Just as no two men are alike, so no two mines or plants are alike; and yet there are many similarities. Find out what the similarities are, and this will help to make clear the dissimilarities. Try to visualize details of the difficulties, not because you will have to deal with them yourself, but to consider them in later studies of general problems. To outline all the steps to be taken in familiarizing oneself with a plant or operation would be impossible, but the following points may be of interest in any investigation. The study of a mine is generally made backwards-—that is to say, one sees the finished product first-—-but this is immaterial, because each step must be considered separately in any event. As a rule, there are certain heads under which the different features of mining can be placed, as follows: Ventilation.—Ventilation is usually the most important item in power cost and safety, especially in gassy mines. Quantity of air, water gage and power consumption, and finally analysis of the return air in full return and separate splits should be considered. Type of fan and type of power unit should enter into this study because it is important to view expenditures which are going on 24 hr. a day and 36.5 days in the

Jan 1, 1931