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By ROBERT E. CROCKETT

MAGNETITE mining and milling in New York, New Jersey and Pennsylvania continued to remain comparatively inactive during 1933, owing to the low rate of output of the steel industry and also to unrestricted importation of foreign ores. However, some improvement over conditions existing in 1932 was noticeable, particularly in New Jersey, where one plant, that of the Washington mine of the Alan Wood Mining Co., at Oxford, went on full production in August. At Lyon Mountain, N. Y., the Chateaugay Ore and Iron Co. resumed mining and milling operations in October, on a reduced scale, principally to provide employment during the winter months. The Chateaugay company produces a special low-phosphorus pig iron. During the year they obtained a contract to supply their product for use in the manufacture of the suspension cables of the New. Golden Gate Bridge.

Jan 1, 1934

By George Kunz

(Butte Meeting, August, 1913.) THE manifold inconveniences resulting from the absence of a uniform standard of mass for determining the weight of precious stones have long been obvious. This lack has been keenly felt in commercial transactions, and those who have devoted time and research to the study of historic diamonds and precious stones have had frequent occasion to deplore the absence of such a standard in the past. In a paper read in Chicago in 1893, before the International Congress of Weights and Measures, held in connection with the World's Columbian Exposition, the writer suggested dividing the carat into 100 parts, and constituting a standard international carat of 200 mg. ; that is, 5 diamond carats or 20 pearl grains to a French gram, making 5,000 carats or 20,000 pearl grains to a kilogram. He also called attention to the fact that while this would depreciate the present diamond carat or pearl grain only about 2.5 per cent., it would abolish the troublesome discrepancies between the various carat-weights now in use, and could be easily explained and understood everywhere.1 The subject of the various diamond carats, their incongruity, and the resulting confusion as to the correct weights of historic gems when definite records of them are searched for, has been fully treated by me in an extensive study of this subject in The Book of the Pearl.2 To the earnest and unremitting efforts of C. E. Guillaume, Director of the Bureau Internationale des Poids et Mesures at Sèvres, is largely clue the eventual success of this eminently desirable reform, which lie has constantly urged both by articles on the subject and by addresses delivered in Paris before the International Committee for Weights and Measures.3

Jan 7, 1913

By Alan Kissock

MOLYBDENUM is thought of as one of the rarer elements, for though it occurs in almost every country of the world it is seldom found in commercial quantities. In this country, however, there is one deposit which makes the term "rare" a misnomer. There are two commercially mined molybdenum minerals: molybdenite, the sulfide, and wulfenite, a lead molybdate. Of these two only the former is of any con- sequence but wulfenite is of mineralogical interest. It is frequently associated with oxidized lead ores and particularly in arid sections. Deposits, however, are usually quite superficial. It is highly oxidized and yet it does not appear to be an alteration product for it apparently disappears below water level and I know of no case where primary molybdenite, or in fact any molybdenum whatever has been identified below these surface wulfenite occurrences. The genesis of wulfenite would make an !- interesting study.

Jan 1, 1933

By William L. Saunders

MANY members of the Institute, who participated in the visit made, during the Bethlehem meeting of February, 1906, to the shops of the Ingersoll-Rand Company, at Phillipsburg, N. J., inspected with interest the new Electric-Air drill, which the company had set up for the purpose of showing it in actual operation to American. mining engineers. At the request of the Secretary of the Institute, I promised at that time to prepare a paper for our Transactions, describing the construction and advantages of the machine. But such a paper would then necessarily have contained much that was only expected or claimed by the designers and manufacturers of the drill, and not yet incontrovertibly proved by varied and long-continued practice. However moderate such statements might have been, they would have given inevitably to the paper, to some extent at least, the air of a prospectus, rather than of a technical contribution. I therefore decided, with the Secretary's approval, to postpone the writing of the promised paper until it could set forth the results of adequate actual practice, as well as the latest details of construction, etc., based upon practical experience. That period has now arrived. The Electric-Air drill has been exhaustively tested in the field, under varied and arduous conditions and upon the hardest rocks. It is now fairly in the field; its merits and performances are matters of unimpeachable record, and its place among established competitors can be definitely determined. As a representative of the Ingersoll-Rand Co., as well as a member of the Institute, I may be permitted to add that my company, being largely interested in the manufacture of air-

Jan 9, 1907

By Arthur Knapp

OIL-WELL depletion curves, to be of value, should show when a well or lease may no longer be operated at a profit. The difference, at any time, between the total expenditures and the total income of a lease or well may be called the lease status. Plotting this lease status against time will give a curve subject to more accurate and different interpretations than the barrels-time curves. According to the hypothetical barrels-time curves shown in Fig. 1, well A, at the end of 16 mo., is producing twice as much oil as well B and will continue to produce for another year whereas well B will cease producing in about 6 months. DATA FOR LEASE STATUS-TIME OR DOLLARS-TIME CURVE TIME LEASE MONTHS STATUS Lease purchased for $3000 0 -$ 3,000 No expenses chargeable to lease for 3 mo 2 - 3,000 Well A is started; cost of drilling for month is $16,000 3 - 19,000 Well is completed at additional cost of $10,000 4 - 29,000 Well A is brought in and flows 10,000 bbl. first month (see Fig. 1). Necessary to invest in tanks, boilers, pipe lines, etc.: difference between expenditures and receipts gives profit for month of $5,000 5 - 24,000 Investment is small, cost of operating well A is small, so profits are $15,000 6 - 9,000 Well ceases to flow so there is additional investment for pumping equipment and additional operating expense; net earnings from 6,000 bbl. of oil produced is $4,000.... 7 - 5,000 Lease operation now becomes normal and curve becomes smooth 8 - 500 9 2,000 10 4,500 11 6,000 12 7,700 13 8,700 14 9,000 15 9,500 16 10,000

Jan 1, 1921

By Henry D. Hibbard

THIS article aims to clarify the use of some terms often occurring in writings on iron and -steel, and also to suggest several new short abbreviated names for some of the things related to the subject which now are indicated by phrases. Crude or Crude Iron The name crude or crude iron is recommended for the iron produced from ore by the blast furnace. When necessary it can be specified as pig iron when in the form of pigs (usually cold), or as molten iron, commonly called hot metal to distinguish it from cold iron in pigs. The product of a direct process of making wrought or malleable iron from ore is not included.

Jan 1, 1924

By Herbert Hoover

YOUR committee asks that I speak today on the relations of the engineering profession to public affairs. That takes in a lot of ground. This being a cheerful occasion, I will assume that I should exclude the engineer's function as a taxpayer. This being a nonpartisan occasion, I will assume that I should not refer to his voting emotions in 1940. Perhaps what was in the minds of your committee was the application of engineering thought to the confusions of the times. That is also a lot of ground. I fear, however, its boundaries disappear in mirages and rainbows on all sides. Now any entry of the engineer into public affairs involves his breaking into the fields of the sociologists, the economists, and the politicians. However I don't know why, seeing the difficulties these professions are having, they should not welcome a little help.

Jan 1, 1939

By F. F. Sharpless

IT IS to be. read in Western newspapers that Hon. S. S. Arentz who introduced H. R. 7736, 'has repudiated it, that certain mining men in Utah and Nevada say that they will fight it "until hell freezes over." It is to be read in more temperate expressions that "the eminent engineers who drafted the bill exhibited a woeful misunderstanding of Western sentiment and opinion." Furthermore, it is averred that there is no need for revising the mining laws, that we have got along pretty well under the existing laws, etc. Such statements are so surprising in view of, the facts of record that it is hard to believe that the oppon-ents of the bill, who make them, are well informed, or that they represent general opinion. It will be useful therefore to review the record of the case. Our GOOD OLD MINING LAWS We have indeed got on well in our mining industry, but that has not been by virtue; of our good old mining laws. Rather has it been in spite of them. Ever since the Richmond-Eureka case in the '70s there has been litigation arising from them. Early in the '80s the apex law was discarded by common consent in Leadville, and it has been ignored in every district of flat-lying ore deposits ever since. The great mines of the present time are the porphyry copper deposits. At Bingham, Ely, Ray, Chino, Miami, Clifton and Ajo the apex law is simply inapplicable. A law that is inapplicable to the modern conditions of mining may be an old law, but it can not properly be characterized as a "good" law. For such reasons, and many others of weight, there has been a demand for revision of the mining laws; dat-ing ,back at least three decades. President Roosevelt appointed a commission to advise respecting the question, said commission comprising. Dr. James Douglas (chairman), John Hays Hammond, D: M. Barringer, Walter B: Devereux, and William B. Mather. This committee was unanimous on the following points:

Jan 1, 1922

By Marcus Nadler

WAGES in the United States, in spite of the wage freeze, have increased materially. Overtime payments have become standard practice in almost all industries. Now efforts are being made to place wages on an annual basis, and if this is adopted, it will result in an increase in the cost of production. Organized labor today is more powerful than ever before; union membership is large and steadily increasing, and in many instances membership in the union is a prerequisite to employment. The treasuries of many unions are strong as a result of the large membership and full employment. The unions, therefore, today are in a much better position than ever before to carry on long strikes. Politically, too, the unions are more powerful today than they ever were. On the basis of their strength, one may expect that some of the demands that the labor unions will make in the not distant future will be granted. It is, therefore, quite evident that before long, particularly when the curtailment in war production reaches about 40 per cent, this country will be confronted with a serious labor problem.

Jan 1, 1945

By Peter M. Fozzard

The San Bartolomt silver deposit was discovered by a United Nations team of geologists working with a counter- part team of staff of the Ecuadorian Government's General Directorate of Geology and Mines (DGGM). The Phase I project over five areas of operation during which this discovery was made was financed through a United Nations Development Program contribution of $860,000 and an Ecuadorian Government participation of about $680,000 equivalent. Existence of mineralization at San Bartolomé was first recognized in 1966 when a reconnaissance geochemical stream-sediment program was carried out over a 10 500 km2 (4,054 sq mile) area centered around the city of Cuenca in southern Ecuador. Over the course of this project more than 10,000 samples of stream-sediment, soil, and rock materials were collected. Average costs per sample were $10.00, as follows: collection, $5; sample preparation, $1.60; assay work, $3.40. Initially in the program (1965-1966) sediments were collected along all motorable roads and tracks. Routine analyses, originally by colorimetry and later by AAS, were for Cu, Pb, Zn and occasionally As, Ni, and Co. Discovery geochemical samples from the San Bartolomé drainage area were among the first to be taken in 1965. As luck would have it, the road along which this traverse was taken passes only some 100 m (328 ft) downstream from the mineralized suboutcrop. The relevant two streams sampled are of inconsequential size, some 1 m (3.3 ft) in width, with a limited flow volume throughout the year. Original anomalies were recognized through cold-extractable Cu/Zn analyses. The pH of all river waters was also recorded at sample sites. Resampling the discovery sediments when AAS became available showed total extractable values of between 150 ppm-300 ppm Zn, 550 ppm Pb, and 10 ppm Ag. In 1967 the first followup was by rough-and-ready means. Dithizone field-kits (THM) were used to rapidly test soils from the surrounding area. The area has no outcrop. This work allowed the definition of an area of interest of some 2 km (1.2 miles) x 500 m (1640 ft). Six approximately 1 km (0.6 mile) to 1.5 km (0.9 miles) lines spaced at approximate 250 m (820 ft) intervals were established and used for IP surveys and soil sampling at 50 m (164 ft) intervals. Where one of the lines crossed the westernmost geochemical discovery creek a first-priority geophysical anomaly coincided with a major Zn/Pb (and later Ag) soil anomaly. A pit was sunk and encountered mineralized vein material at a depth of 1.5 m (5 ft). This lucky glory hole confirmed the geochemical discovery and prompted systematic followup. Immediately, costeaning of the west bank of the discovery creek, the Quebrada Ocashuaico, was carried out and exposed weathered and leached mineralization. Nearly 100 mineralized veinlets ranging in thickness from 0.5 cm (0.2 in.) to 8 cm (3 in.) were exposed across the 180 m (59 1 ft) costean. Sixty mineralized veinlets were determined over a 90 m (295 ft) wide zone. Sampling delineated minable widths averaging between 0.16 and 0.31 kg/t (5 and 10 oz per st) Ag with associated copper (very sporadic) lead and zinc. Over the period 1968- 1972 a considerable amount of detailed work was completed: detailed IP, EM Turam, magnetic and mise-a-la-masse geophysics, very detailed soil- sampling, trenching, drilling and glory-hole drifting, and cross-cutting. Numerous problems were encountered: the area was found to be a most difficult geoelectrical target; zero outcrop; pyrite (nonargentiferous zones) associated with faulting; mineralized groundwater; extensive clay development; loss of diamond drill-core, and no two-dimensional surface information. As the program developed the complexity of the structure was slowly unravelled, using a degree of good guesswork. Apart from photogeological and ground geological mapping at various scales, the following

Jan 1, 1985

By Jan H. Hommen

TRENDS IN MINE FINANCE Reviewing historical trends may help in dealing with future funding strategies. The first trend is the increase in the use of debt to fund corporate America. Surprisingly, when comparing that with other corporates in the global marketplace, the U.S. does not look too poorly. Japanese, in particular, but also German companies, are much more leveraged than their U.S. counterparts. Note that in Japan and Germany the government and the consumer have shown substantial restraints when it comes to credit. Not so in the U.S. where the savings rate (4%) is much lower than that in Japan (20%) and in Germany (14%). As a result, the cost of leverage is substantially lower in Japan and in Germany than in the U.S. Lower debt costs in these countries allows one to obtain more of it for the same price. The close relationships between financial institutions, corporations and governments in Japan and Germany also make the risk of leverage more bearable and understandable. Also note that interest rate volatility in these countries is more subdued. The investor base in common stock is also changing. Private pension funds have been net sellers of equities during the last few years while public pension funds have been net buyers. Individuals are basically out of the market. It is estimated that over $330 billion of equity was retired in the U.S. through 1986-1988. The reasons are well known: restructurings, buy-backs, takeovers, mergers, and buy-outs. This de-equitization is likely to continue as the cost of equity capital is higher than the cost of debt capital, even on a before-tax basis. Because there has been no market for equity since October 19, 1987, junk bonds have replaced equity capital in the corporate finance structure. The non-investor-grade borrower has access to the public markets through high-yielding debt securities that often look like senior equity. Deregulation has also provided 24-hour markets; securitization can now liquify assets that before were rusting on balance sheets; information processing and communication tools give facts that are instantaneously available, creating the need for products to cover risk and exposures unknown before the start of the information and technology explosion. Thus we now have swaps, options, futures, options on futures, caps, as well as program trading, portfolio insurance, index funds, etc. Globalization will be unstoppable. Today's environment demands it. Corporations are now global competitors, even though they may have never shipped a product off-shore. Boundaries are disappearing and impediments have been removed. Stocks can be issued in a global offering with distribution in all major financial centers of the world. The high leverage of Japanese companies has made common stocks very scarce, which with the high savings rate, makes equity capital inexpensive in Japan. If markets were perfect everyone would issue stock in Tokyo and buy it back in New York. This would certainly stop the bleeding on the balance of payments. With the deficit balance of payments in America, it is no surprise that the cost of money is expensive here. The risk-return relationship on U.S. equity is not favorable enough to appeal to Japanese equity investors. The Tokyo-market, helped by a stronger yen, surpassed New York as the most important equity market in the world. The question is, will the Tokyo market hold up when Japanese domestic consumption increases at the expense of savings? In the U.S. debt markets, the plain vanilla debenture is making a comeback after a period of absence. Commercial paper has replaced short term bank borrowings for working capital funding by larger corporations. The banks have made an interesting comeback with loan sale programs that will continue to attract borrowers. There will be a continuing

Jan 1, 1990

By Victor R. Cabrera

Expansion of Marcona Mining Co.'s operations in Peru several years ago increased the number of laborors and the variety of required jobs at the Company's facilities. This change made the former wage administration outdated, becoming evident by the increase of inequity grievances which threatened tile Company's good labor relations. Such a situation led Marcona to design a new wage plan based on a thorough job evaluation of all its laborer positions. The iron ore deposits, 15 miles inland from the ports of San Juan and San Nicolas, Peru, supply ore to steelmakers in the U.S., Europe and Japan. Marcona Mining Co. operates the mines under a long-term lease agreement with Peru.

Jan 7, 1964

By Rixford A. Beals

It has been observed with considerable accuracy that if the major U. S. mines were moved to Mexico tomorrow, many of them would be losing money. But the companies would continue to operate, losses or not, because they would have to. And some of the newest and most promising low grade ore projects in the U. S. would never have "gotten off the ground" had they faced the equivalent of the mining taxes now in effect in Mexico. No one of the various mining taxes in Mexico seems prohibitive by itself. Taken together, on the balance sheet, however, the picture changes. Production and export taxes alone take from 20 to 40 pct of the gross product value for base and precious metals.

Jan 2, 1955

By W. R. Opie

The object of this paper is to show the manner in which typical electrodeposits of hexagonal-close-packed metals—zinc, titanium, and zirconium—tend to form. The conditions of electrodeposi-tion markedly affect the nature of the deposits in regard to crystal size, orientation, and appearance. No attempt is made to correlate cell conditions with deposit quality but, rather, characteristic types of deposits were selected and a study made to show the relationship between outward appearance and crystal structure. The zinc deposits were made in aqueous electrolytes and the titanium and zirconium deposited from fused salt baths. ZINC deposits studied were made in the American Smelting and Refining Co.'s Central Research Laboratories. They were representative of bright, shiny, smooth deposits, which can be obtained by using proper current densities and electrolyte addition agents, and of deposits which are dull and tend to be nodular. Four deposits were selected which ranged from smooth and bright to very nodular and dull, and their classifications are shown in Table I. These were examined microscopically and were found to differ quite markedly in outward surface structure and in microstructure. The outward surface variation is illustrated in Figs. 1 to 4. At X50 the texture could be seen to progress from granular to platelike to smooth. The microstructures of the deposits' cross sections from starting sheet to outer surface are shown in Figs. 5 through 8. The dull nodular deposits (sample Nos. 1 and 2) show some tendency for acicular growth. The platelike sample (No. 3) shows tendency for columnar growth development and the smooth deposit (No. 4) has a well developed columnar structure. Back-reflection X-ray patterns of the deposit surfaces revealed some interesting information. The crystal orientation was random in all deposits except the smooth deposit. Fig. 9 is a typical back-reflection pattern of a nodular deposit. All planes are reflecting in the proper relative intensity. The pattern of the smooth deposit is shown in Fig. 10. The only planes which reflect are the (10.4). This series of planes is in the right position, with the FeKa radiation used, to satisfy the Bragg equation if the basal planes {00.1) are at right angles to the X-ray beam. The results were interpreted to mean that in the bright smooth deposit preferred orientation has occurred with the basal hexagonal planes oriented in the plane of the sheet but with all other planes randomly oriented around the c-axis.

Jan 1, 1957

By R. L. Bowron

GROWING use of basic slag in the agricultural industry is of special interest and importance to the iron and steel industry of the Birmingham district, providing an increasing outlet for this by- product. Such use of basic slag was first developed in England about fifty years ago where it soon became wide- spread. About twenty years ago the Tennessee Coal, Iron & R. R. Co. began its production in the United States after exhaustive tests had demonstrated its high value here as in Eng- land. It is particularly valuable on heavy clay and acid soils, improving their physical condition, increasing their alkalinity where that is desirable, and providing soluble phosphate and small amounts of manganese to soils deficient in these respects. Its use in agriculture is growing as its advantages are becoming more widely known.

Jan 1, 1937

IT is a pleasure for the translators to record their gratitude to the Seeley W. Mudd Memorial Fund of the American Institute of Mining and Metallurgical Engineers for underwriting the cost of publication of this volume, to the Printing-Office of the Yale University Press for doing an unusually fine printing job, and to the following for granting permission to reproduce the title pages of volumes in their collection: The Bibliothèque Nationale of Paris, for edition A of the Bergbüchlein; the Osler Library of McGill University, Montreal, for editions B and G of the Bergbüchlein and edition D of the Probierbüchlein; Mr. Herbert Hoover, Jr., for editions C and E of the Bergbüchlein and editions E, M, N, and 0 of the Probierbüchlein; the Parsons Collection of the Reference Department of The New York Public Library, for edition D of the Bergbüchlein; the Library of the Bergakademie Freiberg, for edition F of the Bergbüchlein and editions A, H, and L of the Probierbüchlein; the Herzog August-Bibliothek of Wolfenbüttel, for edition C of the Probierbüchlein; the British Museum. Library, London, for edition I of the Probierbüchlein; and the library of the University of California at Berkeley, for edition J of the Probierbüchlein. The cooperation of those who helped with the translation of the Bergbüchlein is acknowledged on p. 64. A. G. S. C. S. S.

Jan 1, 1949

By J. R. Linney

THE Eastern magnetite industry has not failed in its contribution to the war program during the past year. Man-power shortage was the critical problem in maintaining production and for the last half of the year, owing to lack of man power, it was necessary for some mines to change from seven to six days per week schedule. At Cornwall, Pa., the mine operated by the Bethlehem Steel Co. produced approximately 2,000,000 tons of crude ore and 1,200,000 tons of iron ore concentrates, a decrease of about 10 per-cent compared with the previous year. Railroad haulage in the open-pit at this mine was discontinued, being replaced by Mack trucks of approximately 30 tons' capacity. At the Mt. Hope mine in New Jersey, the Warren Foundry and Pipe Corp. produced about 195,000 long tons of crude ore obtaining 70.000 long tons of lump ore and 35,800 long tons of concentrates. An additional 24,500 long tons of concentrates was produced from a stock pile of 47.000 long tons of crude ore accumulated during the latter half of 1943, following the fire in their old dry mill. All of this material was handled through their Brown

Jan 1, 1945

By Paul M. Tyler, Carle R. Hayward

DOES it pay to do really good work? Quite likely the practical millman will answer that it does not. The preparation of ores for market is primarily a business enterprise, and by and large the individual operator does not bother his head about squandering our national resources or making easier the job of the smelterman. Having accepted such ore as he may get fro111 the mine, his job is to make the best possible showing with his mill fro111 the standpoint of financial return. His success is measured in dollars and cents, and he has no rightful reason to expect more than scant acknowledgment of any other achievements from the stock- holders of his company who in the last analysis are his employers.

Jan 1, 1936

By Donald H. McLaughlin

MINERAL industry activities have not been seriously hampered by a lack of men with higher training. The balance between opportunities for employment and advancement and available personnel has been a happy one, with enough competition to stimulate effort but not the unfortunate conditions arising from an overabundance. of employment seekers. Nearly all mineral industry educational institutions have been concerned about the falling enrollment in mining and metallurgical courses of study during the past decade. But industry has drawn upon a supply of many types of technically trained men apart from those who prepared their careers specifically in the mineral industry. Some schools have made this possible by uniting geologists, mineralogists, and others with students in mining and engineering. On the other hand, some schools have combined their department of mining engineering with an over-all engineering department and continue to send their graduates into the mineral industry by another route. On the whole, this seems to be a good trend and is likely to result in men better trained for current problems than would have been possible under the older rigid curricula.

Jan 1, 1947

By M. E. Wadsworth

"For his creative efforts in explaining the electrochemistry of sulfide mineral leaching systems." Leaching reactions that occur during the dissolution of selected base metal sulfides and metals are considered in terms of surface reactions and the influence of intermediate or final products formed. These products may be solid layers, requiring solid phase diffusion for the reaction to proceed, or ions in solution that can influence the kinetics by controlling the mixed potential of the solid. Three general types of reactions are proposed to explain observed rates of reaction. Examples are presented for non-oxidative and oxidative leaching of galena (PbS), anodic dissolution and oxidative leaching of molybdenite (MoS2) and cyanidation of silver and gold.

Jan 1, 1986