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Jan 1, 1970

By Ray W. Ballmer, K. H. Matheson

Since start-up in 1906, Bingham had been a rail pit, beginning with steam locomotives and converting to electric locomotives in 1923. Ore production was maintained by effective utilization of avail- able rail equipment. From time to time, as it became necessary to deepen the pit and as stripping ratios increased, studies of alternative material haulage systems such as diesel locomotives, conveyor belts and trucks were made. Conversion from rail haulage with electric locomotives could not, however, be justified. Because of a gradual decline in ore grade, a program was approved in 1963 to raise ore production to 108,000 tpd. The decision posed a serious problem: due to built-in inflexibility and other limitations, a parallel expansion of the rail haulage system was impractical. (Track and trolley wire relocation causes greater shovel downtime than required for normal maintenance; instability of the dumps and the resulting additional track maintenance increases greatly as the daily volume of waste material increases.) Studies indicated that economically the most favorable course of action would be the replacement of rail haulage on the upper levels of the mine by truck haulage.

Jan 11, 1965

Jan 1, 1969

By C. W. Wright

The author proposes that events demand an inventory of our sources of "key" mineral commodities, here and abroad-to provide a realistic future strategic picture-to assist mine owners at home and abroad in planning future development.

Jan 1, 1961

By C Gunther

The purpose of this book is to present the practical side of economic geology concisely and in convenient form; established facts and the applications of accepted views are emphasized; theoretical discussions and questions of genesis are avoided. Coal, iron, and placer deposits are omitted; they are subjects of specialized study that are fully and concisely treated in other works. The reader is assumed to possess a knowledge of mineralogy, petrography, and elementary geology. The arrangement adopted is based on Kemp's theory of magmatic waters, on Lindgren's conclusions on hydrothermal and secondary alterations, and on the theories of secondary enrichment enunciated by Emmons and Weed. No general classification of ore deposits is attempted, nor is any attempt made to fill by hypothesis the wide gaps, nor to explain the apparent contradictions that rank economic geology among the most inexact of sciences. The present knowledge of the subject is too incomplete to warrant such broad generalizations. The demand for good properties generally exceeds the supply. While mines of the first rank will undoubtedly be discovered from time to time, it is probably true that a great proportion of deposits having outcrops of commercial grade or of evident promise have been recognized and explored. A review of mining conditions over long periods shows that the rich discoveries belong to pioneer days, and that as time goes on the more important developments are the result of lower working costs, improved metallurgical processes, and an increasing knowledge of economic geology. As engineers in search of developed mines no longer expect to find properties having positive ore of greater net value than the price asked, so those in search of prospects should not expect to

Jan 1, 1932

By Rupert Spivey

Kennecott Copper's Chino mine is one of the oldest copper mines in the United States, having been operated by the Spaniards as early as 1800. At that time haulage methods were indeed primitive. Indians brought the ore up on "chicken ladders" in leather buckets. It was then melted into crude bars and hauled to Chihuahua by mule train. There are still remnants of the old trails near the present pit where the mule hooves cut grooves in solid rock. The mines were worked as underground operations off' and on until open-pit mining was started in 1910 by John Sully and Daniel C. Jackling. Since that time many haulage methods have been used: mule carts, steam and electric trains and finally large haulage trucks, now believed to be the best method for this mine. The general shape of the pit is oval with dimensions of 1% miles by 1% miles. Working benches are 50 ft high, with the bottom bench at 5750 ft and the top at 6450 ft above sea level.

Jan 1, 1964

By William L. Langdon

PRELIMINARY COMMENTS Recent years have been difficult for the mining industry, as reported in the most recently published Minerals Yearbook (Volume III), the estimated value of world crude mineral production has been generally declining since an historical peak in 1979 (16).* The costs of mineral extraction have, however, been rising rapidly. Individual project costs are, in general, exceeding the growth rate of mining companies, while operating and technical risks continue to increase (16). Risks resulting from currency flotation and political actions in the host country are also on the increase. Labor difficulties (such as those experienced by Phelps Dodge) and the Reagan Administration's recent rejection of a proposal by the International Trade Commission for higher tariffs and/or quotas on copper imports have also contributed to the mining industry's difficulties. The net result of these factors has been financial difficulties for mining companies with respect to paying for their current financial obligations as well as trouble finding new financing. It may be that one of the main factors in determining the future of the mining industry will be centered upon capital structure, i.e. how its assets are financed. Historical Perspective on Capital Structure In The Mining Industry As discussed by Isreal Borenstein in (4) and Thomas Navin in (7), mining firms typically have used a financial model based upon high financial leverage, i.e. large amounts of debt relative to equity. This has been especially true for American firms developing orebodies discovered overseas. Problems sometimes occurred for those who were forced to commit themselves to completion guarantees in order to obtain bank loans. Mines under these circumstances must be brought into operation regardless of market conditions. Politicians in overseas countries also may use the high profits required by these high risk ventures to argue for nationalization of mines. Coupled with the frequent use of high leverage, mining companies traditionally have paid out a higher percentage of earnings in the form of dividends than manufacturing firms. This is significant, in that such funds paid out in dividends are not available for other uses. Hence, a greater reliance upon debt and/or additional stock issues than would ordinarily be the case for manufacturing firms. Thomas Navin has stated in (7), that the theory behind the high dividend payout was that, "most mining investors thought of themselves as investing in a wasting asset, one that would gradually deplete over time until it ultimately became valueless." Investors, therefore, required a receipt, in the form of dividends, of a percentage of current earnings and a return on original capital. This view of reality, apparently, has not changed in some quarters, even though modern mine management ordinarily replaces depleted mines with new ones. It may be that this practice of high dividend payout coupled with relatively high financial leverage should be reexamined. Current capital structure theory could prove interesting and useful for those concerned with current conditions. Capital structure patterns and related practices in this industry are not, in many cases, congruent with those thought by some to be theoretically optimal. Prelude to Capital Structure Discussion With a few notable exceptions (such as the Guggenheims and Anaconda's chief operating,. officer in 1971) mining companies' chief executives and boards of directors have not been persons with financial backgrounds. This, one could conjecture, might have accounted for the relatively nonsophisticated nature of capital structures of mining companies. In order to appreciate the possibilities with respect to alternative influence on a firm's performance, one must be acquainted with the basics of financial theory. This paper is an attempt to familiarize the reader with (1) capital structure in general, (2) the usual components of this structure, (3) the general theory behind the use of financial leverage, and

Jan 1, 1985

It took the US coal industry 55 years to increase domestic coal production by about 11%-from 568 million tpy in 1920 to today's level of about 630 million tpy. With such a growth record, it would take a few hundred years to double coal production. FEA planners think that it can be doubled in 10 years. "With all the obstacles continuously imposed on coal, the industry's real problem is not growth but survival," says Ray Albrechtsen, board chairman of Mountain States Resources Corp., and "we should consider ourselves lucky if, by 1985, the coal industry won't have been legislated and regulated out of existence."

Jan 5, 1975

PRESIDENT Truman's economic report to Congress calls for an increase of 40 billion dollars in the value of goods and services produced in the United States by 1955; this is an increase of 16 percent over our 1949 production. If such an increase is to be realized, it will be possible only by a comparable increase in the production of steel-the keystone of our economy. Going one step further, since the raw materials of steel are iron ore, limestone, and coal, the President's goal can be reached only through the efforts of the mining industry. Coal and limestone reserves are not critical at this time, but the abundance of iron ore reserves has been subject to controversy. In this issue we proudly present "Cerro Bolivar--Saga of a Crisis in Iron Ore Averted" (a story which has been seven years in the making and three years in the getting).

Jan 2, 1950

By F. H. Wilson, E. W. Palmer

The solid solubility of iron in 2 to 10 pct cupro-nickels increases with temperature and nickel content. Property changes accompanying various heat treatments indicate typical precipitation hardening behavior. Iron content also affects softening temperature and sub-scale formation. These factors, as well as impingement corrosion resistance, influence the optimum iron content of commercial alloys. FOR many years Cu-Ni alloys have been used extensively in the form of tubes, pipes, and plates for the construction of salt-water lines and surface condensers on shipboard and in tidewater power stations. The 30 pct Ni alloy has been considered more resistant to rapidly flowing sea water than alloys of lower nickel content, and has been standard on ships of the U. S. Navy. Some ten years ago, the still better corrosion resistance obtained by modifying the 30 pct Ni alloy with approximately 0.5 pct Fe was recognized, and the iron-bearing alloy rapidly superseded the plain alloy as the standard material for severe service. In 1945, Tracy and Hungerford1 published a study of the effect of iron on the corrosion of various cupro-nickels in sea-salt solutions, and their data indicated that the 10 pct Ni alloy containing about 0.75 pct Fe was equivalent to the 30 pct Ni alloy containing 0.5 pct Fe. This was confirmed by LaQue in discussion of the above paper, and by results in an experimental condenser set up at the Kure Beach marine test station of The International Nickel Co., reported by Freeman and Tracy.' The 10 pct Ni iron-bearing alloy is now being very widely used in applications where the 30 pct Ni iron-bearing alloy was formerly considered standard. While this "substitution" has undoubtedly been stimulated by the present extreme shortage of nickel, it must be emphasized that it involves no loss of service performance, and would have occurred anyway in the course of time, for economic reasons. In view of the increasing use of the 10 pct alloy, it seems desirable to make generally available the results of several investigations of Cu-Ni-Fe alloys carried out in the Metallurgical Research Laboratory of The American Brass Co. in recent years. The present paper, deals with the constitution of these alloys in the copper-rich corner of the system, and with the variations in hardness and tensile properties resulting from the heat treatment of alloys containing various amounts of iron. Most of this work is concerned with alloys containing 10 pct Ni. With over about 0.75 pct fe, the 10 pct Ni alloy is suscep- Alloys Several series of cupro-nickel alloys containing iron were used in these investigations. Most of them were prepared in the laboratory, but two samples of commercially fabricated alloys were included. Series A—Nominally 2 and 5 pct Ni, each with 0 to 1.5 pct Fe. Series B—Nominally 10 pct Ni with 0.1 to 0.4 pct Fe. Series C—Nominally 1.0 pct Ni with 0 to 2 pct Fe. Series D—Nominally 10 pct Ni with 3 to 5 pct Fe. Series E—Nominally 10 pct Ni with 1 and 1.5 pct Fe.

Jan 1, 1953

Joseph G. Butler, Jr., who represented this Institute on the American Industrial Commission to France, has presented a report to the Chairman of the Commission regarding the steel industry of France in war time. In this report Mr. Butler calls attention to the fact that only a few steel works were visited and that he thinks it probable that there are many plants in France more up-to-date than these. He noticed especially in the plants visited a dearth of labor-saving devices and not very great attention to the safety of the employees. He also noticed that the whole of the iron and steel interests in France are being used at the present time by the Government for war purposes, and he was told on good authority that the production has doubled since May, 1915. When the war is over, it is thought that France can send large quantities of iron ore from Algeria to the United States and take in return American coal to France, an interchange which would doubtless be of mutual advantage. In Mr. Butler's opinion the shortage of coal in France may be overcome to some extent by the use of water-power and by electrical processes for steel manufacture, and lie believes when the war ends France will be able to compete with other countries in exports of general iron and steel products, this trade being facilitated by the port improvements at Bordeaux and Marseilles. The French labor situation is much better than that in the United States from the standpoint of labor unions, but the wages are less and many women are now being employed to do men's work. This has a tendency to keep wages low, but is probably a war expedient only. The cooperation among manufacturers in France is at a high level and both local and national organizations exist for the discussion and voicing of trade problems. The national body which is a combination of the individual organizations is the Comite des Forges de France and it is an interesting fact that many of the members of this body are office holders under the Government, or heads of Government Committees which are organized to look after the very business in, which the individuals are engaged.

Jan 12, 1916

THE award from the fund established by Mrs. John-son, in memory of her husband, J. E. Johnson, Jr., to be given to some promising engineer, not over 40 years of age, because of meritorious research, inven-tion or contribution to the professional literature of iron and steel along the lines of blast-furnace process, has been given, for, 1928, to P. H: Royster. Mr. Royster was born at Raleigh, N. C., in 1888. and graduated from the University of North Carolina, in 1907, taking his A.M. degree at, the same school in 1908. He then went to Harvard where he continued research work in physics. After engaging for a while in commercial research in the turbine department of the General Elec-tric Co. and with Cutting and Washington he joined the staff of the Bureau of. Mines in 1916 and was assigned to work on the physical chemistry of the blast-furnace process. He worked with A. L. Feild on slag viscosity and they jointly presented-to the Institute the. papers on "Temperature and Viscosity Relations in the Ter-nary System CaO-A12O3-SiO2" (TRANS. LVIII, 658) and "Slag Viscosity Tables for Blast-furnace Work" (TRANS. LVIII, 650). He also presented a paper on "Production of Ferromanganese in the Blast 'Furnace" .(TRANS. LXII, 18), and jointly with T. L. Joseph contributed a paper on "Effect of Coke Combustibility on Stock Descent in Blast Furnaces" (TRANS. LXX, 236), and another on "Pyrometry in Blast-furnace Work" which was included in the special pyrometry volume published in 1920. The titles of these works perhaps sufficiently indicate the part Mr. Royster has played in the notable research work on the blast-furnace process carried on by the Bureau of Mines, and for which the committee recommended him to the Board of Directors to receive the Johnson award.

Jan 2, 1928

Jan 1, 1970

By J. A. Benell

DIOXIDE of silicon, commonly called silica, is one of the greatest single constituents of modern in-dustry. It is brought most clearly to the mind when we consider the various kinds of sand and their rela-tion to industry. The major portion of.all sand is silica, and should be its principal component part in building materials. As an abrasive for cutting, polish-ing and sand-blasting, sand serves a vital purpose in many industries. Even lumber is now being sand-blasted, to cut away the softer grains of wood, leaving the harder grains in relief. The result not only in-creases the beauty of the wood, but adds to it an ap-pearance of antiquity. The common uses of silica in industry may be classified about as follows: Chemical industries-filtering medium; manufacture of carborundum; manufacture of water-glass. Paint-inert extender. Mineral fillers-wood filler; filler in rubber, hard rubber, pressed and molded goods, phonograph records.

Jan 5, 1928

By J. B. Mitchell

The intelligent selection of comminution systems for industrial minerals requires a broad background of comminution experience. At the same time a thorough knowledge of the specific mineral occurrence, the applicable process and the product end use is required. To illustrate the different ways to process potash ores three flow sheets have been selected for presentation.

Jan 1, 1970

By James C. Fulton

Since publication of the First Edition of "Basic Open Hearth Steelmaking," in 1944, this book has been a major reference on the subject of steelmaking. The Second Edition of 1951 was so fundamental that it has retained its general usefulness to the present date. However, recently some of the material has been updated in connection with the writing of a companion book, "Electric Furnace Steelmaking." The sponsor of these two books, the Physical Chemistry of Steelmaking Committee, has felt that the new material should be made equally available to purchasers of either book. Accordingly the subject matter of Chapters 14, 15, and 16 of this new edition is duplicated by corresponding chapters in "Electric Furnace Steelmaking." It was also recognized that the use of oxygen in the open hearth and in the new basic oxygen processes represents a major development that should not be omitted from any basic reference. Thus the major new feature of this Third Edition is the supplement on "Oxygen in Steelmaking." The cooperation of the Iron and Steel Division's Acid Converter and Basic Oxygen Steel Committee (now merged to form the National Open Hearth and Basic Oxygen Steel Committee) is specifically recognized. In addition to the authors of chapters listed elsewhere, it should be noted that Arthur B. Wilder was the Committee Chairman. Although the changes in the Third Edition are important, the Committee cannot overlook the classic character of the Second Edition. This edition was edited by W. O. Philbrook and M. B. Bever in collaboration with H. B. Emerick and B. M. Larsen. It is anticipated that the Third Edition will maintain the value of the book until the current rapid changes in all basic steelmaking processes stabilize themselves sufficiently to justify a complete revision of the entire text in Part I. The experienced service of Wesley Burr in incorporating the new material in the index is also recognized.

Jan 1, 1964

Between July 10 and August 15, 1918, the Secretary of United Engineering Society, of Engineering Foundation, and of Engineering Council visited 17 cities which are headquarters for large numbers of engineers. His mission was to tell men in all branches of the profession about "Centralized Activities of National Engineering Societies." Stops were made at Denver, Salt Lake City, Reno, San Francisco, Sacramento, Portland, Seattle, Spokane, Anaconda, Butte, Duluth,

Jan 10, 1918

By AIME AIME

THE list of deaths reported during the year 1904 comprises the following names (the figures in parentheses indicate the year in which the persons named were elected to membership). Honorary Members.-Sir Lowthian Bell, Dr. Thomas M. Drown. Members and Associates.-Jacob Neff Barr (1884), John Walter Best (1899), A. Poyntz Blandy (1903), A. Cass Canfield (1876), William E. Carroll (1901), William E. C. Coxe (1874), Russell W. Davenport (1877), Isidor Davidov (1893), Louis M. Davis (1884), Edward Doerr (1897), Edward M. Ferguson (1878), C. Le Neve Foster (1893), Geo. Clinton Gardner (1878), Wm. J. Harris (1871), Richard P. Heckscher (1893), H. D. Hoskold (1.894), Wm. S. Hungerford (1882), Edwd. K. Landis, (1882), August Lengemann (1902), Wm. M. Lippitt (1900), Henry McCalley (1888), Robert J. McCartney (1897), Arthur McClellan (1871), Arthur S. Mahony (1888), Philip W. Moen (1888), Henry G. Morse (1881), Charles Parkin (1875), Clarence V. Page (1900), Rubens P. Patterson (1886), Henry Paul (1889), W. H. Pettee (1871), James B. Randol (1879), Irving H. Sevier (1904), Win. J. Sims (1902), John H. Slavens (1901), Chas. B. Squier (1886), Chas. W. Stickney (1891), Homer H. Swaney (1903), Walter B. Wilson (1892), Whittaker Wright, The following paragraphs, constituting the concluding portion of the Annual Report of the Council for 1904, have been withheld from publication until now, in order to make them as accurate and complete as possible. Jacob Neff Barr, a mechanical engineer of note, died on May 5, 1904. Being especially interested in railroad work, he invented the Barr contracting-chill process of casting car-wheels,

Jul 1, 1905