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By R. W. Courtney

The objective of this study is to make a critical evaluation of the magnitude and extent of electrostatic hazards in typical U.S. mining operations and to assess the adequacy of techniques, materials, and equipment for detecting and minimizing these hazards. This was accomplished with an incident/accident survey, mine visits, literature search, and engineering analysis. It was concluded that it would be desirable to (1) utilize ground fault interrupters to minimize stray current from electrical utilities, (2) decrease the current and electrostatic sensitivity of electric detonators used in areas with a high incidence of lightning strikes or troublesome stray currents, (3) institute quality control and test standards for blasting material and protective devices, (4) establish an electrostatic monitoring program for loading ANFO in plastic lined holes, and (5) establish a risk criteria for operator exposure in mines.

Jan 1, 1982

By D. L. Cluff

Ventilation Air Methane (VAM) is a high volume low concentration methane source. The capture or use of methane from VAM is challenging, which results in the routine discharge of methane into the atmosphere. Mitigating VAM has the benefits of providing an energy source and reducing the atmospheric Greenhouse Gas (GHG) burden. The GHG radiative forcing effect of methane is 17?23 times as potent as carbon dioxide on a 100-year time horizon. Thus, any reduction in atmospheric methane would be beneficial. The calorific value of methane is 55.5 MJ/Kg; therefore, a 100 m3/s flow with VAM concentrations from 0.1?1% can provide 3.8?38 MW of exploitable power. Strategies to mitigate VAM such as: Thermal Flow Reverse Reactors (TFRR), Catalytic Flow Reverse Reactors (CFRR), Lean Burn and Catalytic Gas Turbines, Biothermica Vamox®, Megtec VOCSIDIZER©, and Vamcat? are briefly reviewed. The review of VAM mitigation technologies reveals disadvantages such as the need to maintain a minimum internal heat capable of oxidizing the methane. This requirement uses all of the available methane up to the point of reaction sustainability and up to half at the highest methane concentration in VAM. Some systems may introduce a pressure drop to the ventilation system, which would impinge on the existing ventilation system design. These impediments necessitate the development of a more amenable technology. In the proposed system, gas turbines (GT), coupled to a combustion chamber with an external fuel supply, assist the combustion of the VAM. The combustion-chamber coupled system provides electricity, while the heat contained in the GT exhaust gases increases the temperature of the VAM, encouraging the development of a flame inside a combustion chamber. The flow from the combustion chamber streams through a primary air/fluid heat exchanger capable of producing steam of a high enough quality to generate electricity using conventional steam turbines. The residual heat after primary extraction, directed through other equipment, provides additional heat based products such as industrial scale dry air, chilling by an absorption chiller or hot water. The overall design of the system is scalable for low to high VAM flows or variations in concentrations and is capable of providing the company or community with heating, chilling, hot water, electricity or motive force as needed by the particular site or community. The Multi-generation system uses heat from three sources to provide clean efficient energy while mitigating the atmospheric emissions of methane. These sources are heat from the GT, often considered waste heat, heat from fuel injected into the igniters and heat from the VAM. The opportunity to collect carbon credits may improve the economics. In order to design a system with this capacity, a detailed analysis of the combustion characteristics of three separate flows is required. VAM is the main airflow, having the highest volumetric effect, while the GT exhaust and the additional fuel added to the hot exhaust flow of the gas turbine are lower flows, but have a higher velocity and temperature. The aim of the modeling undertaken in this work is to establish the combustion dynamics, degree of pre-heating required and the geometry essential to the design of combustion based VAM mitigation multi-generation systems.

Aug 1, 2013

Coagulation-Neutralisation Technology to Treat Wastewater from Lead-Zinc Concentrator

Sep 13, 2010

By Weber P, Sneyd S

The total world steel production in 1998 amounted to approximately 780 000 000 t. The share of electric steelmaking was in the range of 35 per cent and is expected to increase further to over 40 per cent of the world's production within the next ten years. As electric steelmaking is primarily based on the use of scrap and as it is progressing more and more into higher steel grades the need for low-residual metallics will become increasingly important. Consequently, the demand for scrap substitute material will increase, reflected in the world wide spate of interest for DRI (Direct Reduced Iron) and HBI (Hot Briquetted Iron). The increased significance of DRI/HBI as a substitute for steel scrap has obviously emanated also from its comparatively lower and more predictable costs per ton and definable chemistry. In 1998 already 37 million tons of DRI/HBI were globally produced.

Jan 1, 1999

By R. T. Jones

"Technical publications in the field of mining and metallurgy have existed for a long time. Recent developments in electronic publishing on websites make it possible to disseminate information more widely and cost effectively than before. Professional societies have an opportunity to serve their members and their industry by publishing high-quality peer-reviewed papers on their websites as well as in printed form. Older publications can be scanned, and optical character recognition can be used to provide searchable text. Various business models exist around this process. This paper outlines the approach used by the Southern African Institute of Mining and Metallurgy (SAIMM) to provide free open access to their journal papers and conference proceedings, as well as the work being done by OneMine.org to collect technical papers from a number of international societies and make them available to subscribers via a large database. An approach is outlined that should be of benefit to authors, readers, and society at large.INTRODUCTIONGeorgius Agricola (1494-1555) was not the first writer on the subjects of mining and metallurgy, but is well known as the author of De Re Metallica (‘of things metallic’ or ‘on the nature of metals’), a book that documents and illustrates the observations he made in the course of his extensive travels in the 1500s. Agricola wrote extensively about mining methods and metallurgical processes that were in place in the Middle Ages. The original Latin version of De Re Metallica was published in 1556, the year after Agricola died. It was translated into English by Herbert Hoover, a mining engineer and later President of the United States, and his wife Lou Henry Hoover, a geologist and classicist. The English version of De Re Metallica was published in 1912."

Jan 1, 2012

By C. H. Fisher, M. L. Fein, A. Eisner, G. C. Sprunk, Loyal Clarke, H. H. Storch

"The large reserves of low-rank coals in the western United States are at a disadvantage in competing with the more mature but less plentiful eastern coals, which are nearer important markets and are more suitable for combustion and coke production. However, low-rank coals generally are amenable to hydrogenation, and the western coals might become an important source of liquid fuels and organic chemicals when petroleum is less plentiful.In view of these facts an the tremendous quantities available, further information on the western coals clearly desirable. The purpose of the work described in this paper was to study the hydrogenation characteristics of some of the low-rank western coals in discontinuous converters. The data obtained in this manner, which are inadequate for predicting the suitability of coals for large-scale continuous hydrogenation, were used as a basis for selecting samples for further study in the Bureau's experimental coal-hydrogenation plant (26, 35). 8/ Because of the general importance of the western coals and recently demonstrated relation between coal hydrogenation and petrograghy (14, 15, 16), the proportions of anthraxylon, (vitrain), translucent attritus, and opaque matter were determined. In some instances samples of anthraxylon were isolated and hydrogenated separately so that their properties might be compared with those of the entire coal. The samples studied include peat, brown coal, lignite, sub-bituminous coals, and low-rank bituminous coals."

Mar 1, 1940

The U.S. economy continued to expand during 1986, although at the slowest pace since 1982 when the current business expansion began. Real gross national product (GNP) grew about 2.6%, slightly below 1985 growth but significantly below that of 1984. The continuing expansion was fueled predominantly by rising personal consumption expenditures as well as growing government purchases of goods and services. Fixed investment, although positive, failed to grow at the rate of the overall economy. The trade deficit, which increased more than 30% over the record 1985 level, continued to depress economic growth despite significant declines in the price of petroleum and the value of the dollar. On a more positive note, domestic employment continued to grow--increasing over 2 million from the 1985 level--and inflation and interest rates declined. The unemployment rate dropped slightly to 7.0%. Of direct importance to the minerals-producing industries, expenditures for consumer and producer durables as well as investment in residential construction each grew faster than the overall economy, but investment in nonresidential structures fell more than 10% from the 1985 level. The low level of real capital spending declined about 3% in 1986, following strong gains in 1985 and in 1984. Capital expenditures for new plant and equipment bottomed out in the second quarter and expanded in the third and fourth quarters. The decline in the first half of the year was partially attributed to uncertainty arising from the then-proposed tax bill. Also, there was little impetus for corporations to invest in new capacity since factories were operating at less than 80% of capacity during most of the year, in part because of continued competition from imports.

Jan 1, 1987

By G. E. S. Valadao, J. D. Miller, C. L. Lin

Filtration is an important solid liquid separation technology employed widely in the mineral processing industries. The effectiveness of the filtration operation can be influenced by numerous variables, related to the particulate phase, the slurry rheology and the equipment. The classical approach for analysis is based on Darcy's law. Knowledge of the cake poremicro structure and its correlation to macroscopic cake properties is required to model the filtration operation from a fundamental point of view. Since cake formation seems to occur randomly, a 3D Monte Carlo method was used to simulate cake formation. The configuration for simulation was a space with width of 500 m, length of 500 m and height of 4000 m. Size distributions of five different industrial products whose particle size distributions follow the Rosin Rammler distribution function were used. The particle shape was assumed to be spherical. The simulated cake structures were described in terms of volume porosity (volume of pore space per unit volume of cake) and surface porosity (area of pore space per unit area of a cross section). The results indicate: 1) it is possible to simulate 3D packing, which mimics cake structure, using the Monte Carlo method,2) segregation phenomena occurs during simulated cake formation, 3) the values of calculated porosity for simulated samples B, C, D, and E were lower than those determined for corresponding industrial products Br, Cr, Dr, and Er, and 4)some structures of simulated samples seem to correlate with laboratory leaf test data obtained for different products from plant operations.

Jan 1, 1999

All aspects of precious metals processing were featured at a symposium held Oct. 3-6, 2007, at Loews Ventana Canyon Resort in Tucson, AZ. Although billed as "Precious Metals Processing: Advances in Primary and Secondary Operations," the symposium also looked at economic, regulatory and environmental issues affecting the precious metals industry. The symposium was sponsored by SME; The Minerals, Metals & Materials Society (TMS); and the International Precious Metals Institute (IPMI). It included workshops, technical presentations, guest speakers and social activities. Mining industry management, process engineers, equipment manufacturers, consultants, metals marketers, academics and others involved in the precious metals industry attended the conference. Needless to say, with gold nearing $25.721g ($800/oz) and platinum pushing $41.801g ($1,300/oz) at the time of the meeting, the mood among the attendees could not have been more positive. The symposium was privileged to have Father Ernest S. Sweeney, professor of Latin American History at Loyola Marymount University, as a guest speaker. Sweeney, a Jesuit priest, provided a colorful account of the history of mining in Arizona and the surrounding region of North America (Fig. 1). He described the importance of the mining industry and said, "To go down into the bowels of the earth to extract its riches for the benefit of all of us is an awesome task deserving our sincere respect and gratitude." However, he warned the industry that: "The ever increasing de¬mands on the mining community for the protection of the environment calls for endless efforts to maintain ethical standards in a business filled with risk, uncertainty and frustrations." Sweeney noted that the Spanish conquest of the Americas was driven by the three fundamental motives of "God, glory and gold." He noted that gold was the basic, most powerful driving force of the conquest and occupation of the Spanish empire. The first European to explore Arizona was the Franciscan missionary Marcos de Niza. He came to Arizona in 1539 in search of the fabled Seven Golden Cities of Cíbola. Sweeny noted that Spanish explorers were consumed, as Cortes himself described it, "with a burning fever that only gold could cure." Sweeney told the story of some of these early explorers, including Francisco Vázquez de Coronado who "mounted an expedition in pursuit of gold and rich empires to conquer." Coronado passed through Arizona and discovered the Grand Canyon. "Coronado returned to Mexico exhausted, bankrupt and disillusioned, but with a wealth of new knowledge of the borderlands of the Spanish empire," said Sweeney. He then described the colorful history of early gold, silver and copper exploration and mining in Arizona, including the famous tale of the Lost Dutchman's Mine. In a luncheon address, David Kanagy, SME's executive director, introduced the attendees to the upcoming OneMine. org Web site. Kanagy told the audience" One-Mine.org will be a collaborative digital library that will

Jan 1, 2008

By J Player, P Mikula, G Sweby

A numerical modelling back-analysis exercise was carried out at a WA gold mine at which early signs of seismicity (rock noise, scatts from active faces) were becoming apparent as depth of mining increased towards the 500 m mark. Some strain bursting had occurred and it was necessary to discover what the implications of this were for greater depth. The aim of the modelling was to: 1. Establish a correlation between observed ground conditions and model predicted damage, in overstressed areas of the mine. 2. Use this correlation to forecast rock mass damage and ground control requirements for proposed future stoping panels at greater depth. Good correlation has been achieved between observed rock mass damage, and a 3D Finite-Element RS3 model, run in elastic mode. Two candidate stress field orientations were modelled. The model parameter best fitting the observations was the Strength Factor (SF), the ratio of strength/stress. The good match (correlation coefficient of 0.7) between observed and modelled suggests that the elastic approach is justified for the depth range and rock mass properties analysed. The correlation also enabled a link between observed damage and installed ground support performance. Using the linear best-fit between observed and modelled, a forecasting exercise was carried out using the same RS3 model, modified to include future stoping. The resulting damage and ground support categories were obtained from the modelled SF for each proposed stoping level. Also, a series of generic geometries was assessed to investigate the impact of varying stope face lead/lag distance, sill pillar height and stope pillar size, on ground conditions. The key finding of the generic geometries were: • Ground support schemes have been defined for the expected conditions. • All ore drives are expected to have significant damage in the backs and rehabilitation. • Lead/lag distance not to exceed 10 m. • Sill pillar/level intervals of less than 20 m require an increase in ground support scheme. • Pillar sizes for maintaining footwall and hanging wall stability should be at least 10 m × 5 m.

Nov 29, 2022

By Frederic Souche, Andrew R. Klaetsch, Brian Hann, Nick Goodenow

This paper describes support of excavation (SOE) design and construction for three large diameter shafts excavated through glacial soil and controlled blasting in complex sedimentary rock formations. SOE in soil consists of unreinforced secant pile rings designed to resist lateral pressure in circumferential compression, eliminating costly steel core beam reinforcing. Controlled blasting at the shafts, adits, and tunnels in densely populated neighborhoods requires managing risks to the public, buildings, and utilities. Controlled blasting approaches limited adverse impacts to receptors nearby while achieving adequate production and fragmentation. A site-specific observational approach was used to adjust blasting parameters, limiting the impact on local stakeholders while maintaining daily progress and managing overbreak.

Jun 13, 2023

By K. Reinhardt

THE idea of burning blast-furnace gases directly in gas-engines, instead of under steam-boilers, as had previously been done, was first put into practice barely ten years ago, almost simultaneously in Great Britain, Germany and Belgium. The pioneers of this movement made their first experiments with small engines. After these experiments had given satisfactory results, and it had been shown that the thermal value of the poor blast-furnace gases, in spite of defective scrubbing, could with safety be directly transformed into mechanical work in the gas-engine, there very soon arose a considerable demand for gas-engines of large power, similar to the large steam-engines employed in metallurgical works. In face of these sudden requirements, the gas-engine builders were placed in a difficult position; for up to that time the gas-motor was considered as suitable for small engines only, and it was generally believed that the limit of size bad been attained with 100 to 150 effective h.p. in a single cylinder. Manufacturers of gas-motors, however, did not underrate the advantages offered by this new field for their manufactures, and it so happened that in Germany the Berlin-Anhaltische Maschinenbau-Gesellschaft, of Dessau, was the first to undertake the construction of a 600-h.p. two-cycle gas-engine, with two cyl¬inders of the Oechelhäuser-Junkers type, for the Hoerder Mining & Smelting Company. The engine was started in 1898, and, with a few improvements and alterations, is still working satisfactorily. This engine worked with astonishingly high of efficiency, considering the period. The builders were therefore

Nov 1, 1906

By R. Tipman, T. C. Burnett

"A general computer program has been written to calculate material balances using multiple regression techniques. The program can handle metal assays or size distribution data obtained in multiple surveys of the flotation circuit. The ""best fit"" weight split is calculated between the input and product streams by minimizing the sum of squares of the residual errors using all of the available data. The program includes an assay adjustment feature in which each assay is recalculated to fit the ""best fit"" mass balance. Thus assay or sampling errors can be easily identified. Also the assays can be statistically weighted so the most precise measurements are given the most influence on the material balance. The computer output reports the mass balance, the actual and corrected assays, the percent metal recoveries and the significance and confidence levels for the weight splits.The program enables a rapid and accurate evaluation of mass balances from large masses of data obtained in multiple surveys around a flotation circuit. The effects of changing process variables can be quickly evaluated with statistical confidence."

Jan 1, 1978

By H. R. Shell

The work on synthetic mica and related subjects is being reported in a series of technical articles (see Supplementary Bibliography), each of which describes some special aspect of the subject. This is the final report on chemical analysis of the fluoride-containing silicates. A condensation of this report has been published (26).3/ Chemical analysis affords one of the best means of ascertaining the final com-position of either a heterogeneous mass or a single pure crystal, particularly where some constituents may be volatile. The analysis of fluoride-containing silicates was not so well known or understood that highly accurate results were commonplace. For example, on synthetic mica a university laboratory reported 11.6 and 9.2 percent fluoride when at least 13.3 and 11.3 percent were present, respectively; a commercial testing laboratory reported 9.14 percent as compared to 12.6 percent; and a glass company reported 7.0 percent as compared to 9.0 percent present. No intimation is made that these analysts could not have done better, but the point to be stressed is that the methods in use were long, tedious, and generally required a certain familiarity for best results.

Jan 1, 1956

By H. P. Cole

Methods for increasing compliance to medical and health regimens were reviewed along with similar research in industrial and mine safety. Principles abstracted from both areas suggest that compliance with health and safety practices is improved when: (1) Workers are cooperatively involved with management in setting safety goals and planning for their achievement, (2) the program has the support of workers, supervisors, and management, (3) specific tasks responsible for injuries are targeted, (4) company organizational policy, educational, and behavioral programs work together toward the same goals, (5) workers and supervisors are frequently informed about their degree of correct task performance, and (6) programs are monitored by the frequency of correct performance of targeted tasks, (the means to lowered accident rates) rather than by lowered accident and injury rates themselves (the goals for safety programs.) Safety programs that incorporate these principles increase persons' adherence to specified health and safety practices and subsequently decrease injury rates. It is recommended that: (1) a group of experts be convened to study the application of these principles to coal mine safety programs, and (2) a short course for safety trainers be developed to demonstrate how these principles can be used to strengthen existing mine safety programs.

Jan 1, 1985

By H. A. Bilgin, A. Özgenog?lu, G. Kaçar

In this study, the influences of rock mass properties on the blasting performance in open cast mines are investigated. To this end, discontinuity spacings and discontinuity orientations are measured and full scale blasts with various designs are observed in open cast mines of Aegean Lignite (ELI) and Bursa Lignite (BLI) Establishments belonging to Turkish Coal Enterprises (TKI). For each blast, blasting cost is calculated, and particle size distribution representing the fragmentation of muckpile is determined by means of Split-Desktop software using image processing. 50%(K50), 80%(K80) passing sizes and topsize values are used in the determination of blasting performance according to rock mass properties. The relationships between orientation angle, which is the acute angle between the strikes of slope face and major discontinuity, and 50%(K50) and 80%(K80) passing sizes and topsize values and also blasting cost are investigated in order to analyse the influences of major discontinuity orientation on fragmentation and blasting cost. Furthermore, the relationships between discontinuity modal spacing (or block size index) and 50%(K50) and 80%(K80) passing sizes and topsize values and also blasting cost are investigated in order to analyse the influences of discontinuity spacing on fragmentation and blasting cost. In this paper, the trends observed in these relationships are discussed and the importance of it in mining is commented. Dans ce travail, Il a été traite les influences des qualites des rocheux massif sur les performances des abattages de l’excavation a ciel ouvert. Dans ce cas, les excavations a ciel ouvert dans les Entreprises Lignite d’Aegean et de Bursa qui appartient a La Societe Charbon de la Turquie; Il a été mesuré le trou du discontinuite et l’orientation du discontinuite et aussi, Il a été observé les abattages qui sont pareilles aux critaires exactes. Pour chaque abattages, Il a été fait le control des expences et la distribution du particle au dimension du pile qui a été deja abatté, a été trouve en utilisant le Software du Split-Desktop. Pour determiner les influences des qualites des rocheux massif sur les performances des abattages, Il a été utilisé K50, K80, et le plus grand valeurs des dimensions. Aussi pour determiner l’influence sur l’orientation du discontinuite majeur de la fragmentation et les expences de l’abattage, Il a été observé les relations entre l’angle de l’orientation ( C’est l’acutage entre la direction du banquette front et la direction du discontinuite majeur ) et les plus grand valeurs des dimensions et les expences de l’abattage. Plus, pour determiner des influences du trou du discontinuite sur l’abattage et la fragmentation; Il a été observé la relation entre l’index de la dimension du block et K50, K80 et les plus grand valeurs des dimensions et aussi les expences de l’abattage. Pour conclure; on peut dire que dans cette presentation, apres la discusssion des sujets consideres ces relations, Il a été souligné l’importances de ces relations dans la domain de la Minéralogie. In dieser Studie wurden die Einflüsse von Gesteinsmasse Eigenschaften auf die Sprengleistung in Tagebau Bergwerken untersucht. Zu diesem Zweck wurden Diskontinuität Abstände und Diskontinuität Orientierungen gemessen und Sprengungen im Originalmaßstab mit verschiedenen Anordnungen in Tagebau Bergwerken der Ägäischen Braunkohle (ELI) und Bursa Braunkohle (BLI) Betrieben, die zu der Türkischen Kohlegesellschaft (TKI) zugehörig sind, beobachtet. Für jede Sprengung wurden die Sprengkosten berechnet und die Teilchengrößenverteilung zur Darstellung der Aufteilung von Haufwerk ist durch Mittel von Teilbelegungssoftware, das Bildverarbeitung verwendet, bestimmt worden. 50% (K50), 80% (K80) durchlaufende Größen und Spitzengröße Werte wurden zur Bestimmung von Sprengleistung geordnet nach Gesteinsmasse Eigenschaften benutzt. Die Beziehungen zwischen Orientierungswinkel, welches der scharfe Winkel zwischen den Streichen der Hangfläche und Hauptdiskontinuität ist, und 50% (K50) und 80% (K80) durchlaufende Größen und Spitzengröße Werte sowie Sprengkosten wurden untersucht, um die Einflüsse von Hauptdiskontinuität Orientierung auf Aufteilung und Sprengkosten zu analysieren. Außerdem, wurden die Beziehungen zwischen Diskontinuität modal

Jan 1, 2003

By John Wilson

This report describes the performance of Phase I of a project to design, analyze, and demonstrate a multilift longwall mining method applicable to mining coal seams twelve (12) feet or more in thickness. A non-simultaneous multilift operation is the most viable thick seam mining technique for introduction to the United States coal industry. In the case of the proposed site at Emery, Utah it will result in an increase in coal extraction from 30% with present methods to at least 50% and possibly more. The major technological advance involved in this project is mining a lower lift under a previously mined upper lift. To accomplish this, entries must be developed and maintained beneath the upper lift gob. This will necessitate the use of steel supports at frequent intervals throughout the lower lift' entry system. This has not been done in the U.S. to date. An economic analysis of the project indicates that, while this method will result in a higher than average cost per ton for coal mined, the coal would be competitive with current-operation in the area.

Jan 1, 1976

By Charlie Adcock, Rob Farnfield, Andy Wetherelt

The ISEE Blasters Handbook gives guidance on the level of air overpressure likely to cause occasional window breakage (151dB) and general window breakage (171dB). A long-term safe level of 140dB is also suggested. This guidance is widely used by demolition and other contractors to assess damage zones in the region of explosive applications employing unconfined charges. Other reference material gives more detailed guidance relating to window area, aspect ratio and glass thickness. Despite the guidance given in these references, complaints by members of the public regarding window breakage continue to be received by explosives engineers from air overpressure levels well below the longterm safe limit. Such complaints are not limited to the use of unconfined charges but can even be generated from the highly confined use of explosives in quarry blasting. This paper describes a series of experiments with explosive charges fired in unconfined conditions close to various window configurations. The aim of the work was to test the existing guidance levels and to extend the knowledge base in this area. Topics covered include the role of differential pressure across windows in the walls of an enclosed space such as a room.

Jan 1, 2006

By Clyde Sitterud

Presentation Agenda ?Global Mining Tire Demand ?What is driving it? ?Latest Situation ?How long it will last? ?Michelin?s Response to Increase Supply ?New plant ?Additional presses ?Recommendations for Mining Users ?Treat tires as your major assets ?Areas of attention that will produce immediate results

Jan 1, 2005

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.