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By R. A. L. Black, J. E. Jennings

The problems of slope stability in open cast mines are examined. A criterion, the instantaneous stripping ratio, is suggested for use in the design of pit slopes and as an index of control at all stages of the exploitation of the orebody. This criterion may also be related to safety and to the maximizing of profits. Two approaches to safe design of slopes, one from the point of view of soil mechanics and the other from the point of view of rock mechanics, are described and critically compared. The effect on slope stability of the regional tectonic stress field is discussed. Explanation is given of the application of the Terzaghi effective stress concept to problems in both soil and rock environments, including possible effects when borehole deformation techniques are used to measure stresses in rock in situ. A company embarking on open cast mining is faced with two basic questions: 1) will the venture be profitable and 2) can it be carried out with safety? The two questions are obviously interrelated because both depend upon the slope angles adopted for the pit. The cost of open cast mining depends largely upon the stripping ratio, defined as the volume of overburden that must be removed to the volume of ore recovered. The steeper the slope angles, the more favorable the stripping ratio, but the stability of the slopes, and therefore the safety of men and materials in the pit, require that the angles be made relatively flat. Consequently, the design depends upon a compromise: the slopes must be steep enough to result in economical mining and flat enough to ensure safety. Today there is a world trend towards deeper mining by open cast methods. This is mainly due to the higher cost of underground mining and the lower cost of open excavation resulting from the introduction of large modern earth and rock-moving machinery. Deeper open cast mining has led to a very great increase in the volumes of wasted overburden, and much thought is being given to the considerable economic benefits which would result if pit slopes could be made steeper by even one or two degrees. The result has been an increasing interest in research into slope stability problems in the expectation that the application of scientific principles will provide solutions leading both to economies and to more predictable operation of the mines. In at least four places, the U.S., Australia, Western Germany and Southern Africa, comprehensive investigations are at present in progress, and it is the object of this paper to review some of the more important aspects of these programs. RELATION BETWEEN ECONOMY OF OPERATION AND SLOPE ANGLES The main object of any industrial enterprise in a free economy is to make a profit. In mining, where profits must be made from a wasting capital asset, a further definition of the profit motive is imposed, namely that the economic aim should be to maximize the total possible profit. But since profits deferred for a number of years are not as valuable as profits that are immediately available, it is usual to discount deferred profits at some rate of interest which reflects their current or present value in the hands of the investor. Thus, in mining the logical aim can be defined more closely still: to maximize the present value of the total future profits. In commercial terms the present value represents the market value of the operation as a going concern. Many factors enter into the forecast of current and future profits. They include the volume of production, the price of the salable product and the cost of production. Current profits can be estimated with reasonable accuracy by the operating engineers; but it is the task of economists and management to assess future trends in the mineral markets and in the economy as a whole, and together with the engineers, they can then estimate the future cost and profitability of the mining operations. In open cast mining, the rate of ore production once decided on remains a virtually constant factor unless a major change in the capital structure of the mine is made. But one factor over which the operator has a considerable measure of control is the ratio of the volume of ore mined to the volume of waste over-

Jan 1, 1963

By Zay Jeffries

OF the new production of non-ferrous metals in 1930 gold will rank first in value. We usually think of copper as the most important non-ferrous metal. The copper industry as a whole, that is, adding copper production to copper fabrication, is the largest non-ferrous metal industry. Prior to the world war; however, gold led in value of new metal produced. During the war copper passed gold in value, but gold regained its position during the 1921 depression. For the past several years copper has again passed gold, but in 1930 gold promises again to regain the lead. The gold producer has at times been called a social parasite, largely because we ' cannot eat or drink gold, or because we cannot use it for clothes or for the construction of buildings. Let us briefly examine this accusation.

Jan 1, 1930

By JESSE L. MAURY

ONE OF the most hopeful features of the current depression is the discussion which it has en- gendered of ways and means to counteract similar recurrences in the future. 1t is widely recognized that fruitful attack will be directed toward the steady employment of labor, through which the purchasing power of this preponderant class in society will be maintained. S. A, Lewisohn's article' has presented the major factors to be considered; the physical suffering and mental torture endured by those who are deprived of income through no fault of their own, the direct economic losses' sustained in the degradation of 'great, numbers of our population and the disintegration of efficient working forces, and the prime responsibility of owners and managers.

Jan 1, 1931

By George S. Rice

STUDIES of ground movement and subsidence caused by mining necessarily chiefly deal with causes and effects of making extensive excavations underground with spans beyond the strength of the un- supported or temporarily timbered roof or hanging wall. Perhaps no other phase of engineering is so de- pendent for results upon the assemblage of what may be called "experience data." That this is the case is cot surprising when one considers the number of variables involved in any at- tempted mathematical formula to determine the angle of draw or the angle of permanent slope of the rocks in any particular case. It is not like dealing with construction materials in which, through testing of. small specimens, in conjunction with the tests of large built- up specimens, relative stresses and strains may be deter- mined and formulas closely approximated for still larger constructions.

Jan 1, 1931

By N. S. Wagner

The production of lightweight aggregates in Oregon is a new industry, and, like all new enterprises, it is suffering from growing pains characterized by numerous, small operations some of which flourish for a short time and then cease altogether. Normally all industrial mineral products are produced in a highly competitive atmosphere. At the present time this condition does not exist to a very marked degree in the state because as yet producers have not saturated the constantly expanding market. This paper has been prepared with the intention of outlining very briefly the current status of the various products now being used as lightweight aggregates in Oregon. The present picture will surely change, perhaps quite radically within even a short space of time.

Jan 1, 1949

Man: A purely detached consideration of nature and the place of man in it may easily result in somewhat pessimistic conclusions as to man and his destiny. However, when we come to the evaluation of man's role in the development of natural resources and his achievements in this field, a more optimistic tone may be justified. Hence the possible contradictions between Man and Nature, Perfection, and the present chapter are more apparent than real. After all, progress must have a foundation of optimism, and we cannot challenge either the faculty or the students to better work and to a progressive and constructive outlook without an underlying tone of optimism and basic faith in the future. Geology is the basic science of Mother Earth; the science of the natural forces that have produced and modified the structure of our globe; the science of minerals and rocks; of landscapes and soils; of water supply and mineral resources, including mineral fuels; and of the history of life, both plant and animal, as revealed by fossils in rocks. It is difficult to reduce man and his historical significance to their proper relationship with regard to the earth and its history. Processes of rock formation have continued for at least two billion years; man's activities have been in evidence only a few thousand years. As a means of comparison, if the height of the Empire State building were to represent geologic time, the thickness of a nickel placed on the tower would just about repre-

Jan 1, 1950

By William H. Bassett, C. J. Snyder

Cable sheaths made from common lead have been used to protect underground cables since the beginning of the power-cable industry. Only within the last few years, however, has a systematic study of the production methods and of the causes of failures in cable sheathing been undertaken. Recent increases in the use and demands for service made upon power cables have emphasized the importance of high-quality cable sheaths. It was customary for the users to attribute the cause for their sheath failures to the lack of purity of the lead, but this contention has not been borne out by field and laboratory inspection of the sheaths. During the past two years the writers have had an opportunity to examine various types of sheaths that were removed from power cables after failure. These samples were obtained from various parts of the country and represent, it is supposed, the production of the principal cable manufacturers. Aside from corrosion, the common field difficulties can be classified either as mechanical or structural, as outlined below, and when structural irregularities are found they can all be attributed to manufacturing causes and in no way reflect the purity of the lead. Clasxification of Cable Sheath Failures Other Than Corrosive Mechanical Irregularities A. Splits caused by excessive internal pressure B. Injuries such as nail holes, cuts, tsars, etc. C. Intercrystalline cracks caused by vibration Structural Irregularities A. Splits C. Voids in wall of sheath a. Caused by imperfect welds a. Blisters 13. Holes through sheath b. Laminations a. Caused by yellow oxide inclu- D. Questionable structures sions in sheath wall a. Prominent flow lines b. Blowouts by entrapped gases b. Large areas filled with suboxide during manufacture c. Scattered yellow oxide or dirt C. Caused by inclusions of dirt and

Jan 1, 1933

By Bradley Stoughton

AT THE meeting of the Board of Directors on May 20, the resignation of Bradley Stoughton as Secretary of the Institute was presented and regretfully accepted by the Board. The letter of resignation follows : Gentlemen: About two years ago, I indicated to the President and some members of the Board my belief that the office of Secretary of the Institute should not be a permanent one. It is my observation of events, not only in our own Institute, but also in several sister societies, that too long a tenure of office by the Secretary inevitably leads to a situation which is not good either for him or for the society. After submitting this in writing to the Directors on February 17, 1920, I was overpersuaded by members of the Board to defer resignation until a more convenient time for the

Jan 1, 1921

By M. Kaitz

A continuing discussion in both the petroleum engineering and economic literature is directed to the difficulties encountered in the use of discounted cash flow rate of return (DCF) as a measure of investment worth. Although useful in most Instances, DCF has been criticized because it is time-consuming in its trial-and-error solution, theoretically invalid, not adaptable to cash flow streams yielding multiple return solutions and not entirely reliable in selecting between mutually exclusive investments. The theoretical invalidity of DCF stems from the reinvestment assumption implicit in the calculation that earnings are reinvested at the DCF rate. The emerging consensus of the economic literature is that the net present value or the present worth of the net cash flow stream (discounting at the average opportunity or cost of capital rate) is more correct and reliable. Other criteria proposed have been ratios of net present value divided by initial investment or by present value of all investments in a project. All of these criteria are simple to determine and explicitly assume a reinvestment rate for [he income generated by a project. This paper develops and discusses a theoretically valid profitability criterion which is simple to compute and retains the appeal of a percent return on investment. It is called "percentage gain on investment" or PGI. It measures the gain an investment is expected to realize over like capital invested in the average opportunity and explicitly considers reinvestment potential. Why add another Concept to the large array of investment criteria now available, any one of which, or perhaps a combination of several, appears to embrace the form's (or individuals) objectives? The answer is that not one of the existing criteria provides both a readily comprehensible and theoretically valid measure of risk coverage that has general application. The proposed PGI does fulfill these requirements. INTRODUCTION An ancient expression warns that "one must yield to the times" — there are better ways of doing things. A review of the petroleum engineering and economic literature on one topic alone, measurement of investment worth, certainly is witness to this truth. In use for a number of years, the DCF has recently received attention, directed mainly to its theoretical invalidity. Several alternatives to DCF have been proposed to provide a valid, simply determined criterion to describe investment worth and to overcome the criticisms previously mentioned. This paper introduces another method called percentage gain on investment (PGI) and is proposed as but one of several yardsticks that should be used in making investment decisions. MEASURES OF INVESTMENT WORTH This paper will consider only those criteria which give weight to the time pattern of future earnings. These criteria are usually compared with an average opportunity rate or cost of capital of the firm to judge the relative worth of the investment. For purposes of demonstration, a 9 percent average opportunity rate will be used throughout this paper. Implicit in the DCF calculation is the assumption that earnings are reinvested at the DCF rate. Some argue, though, that there is no reinvestment assumption,' that the DCF rate is simply that maximum rate of interest one can pay on the investment over the life of the project and break even. The determination of DCF is accomplished by discounting the net cash flow stream at that rate (DCF) which will yield zero. The question is: why should reinvestment potential be explicitly considered in calculating return on investment or other criteria measuring economic worth? Perhaps the answer lies in consistent or equal treatment of future cash flow. It appears entirely illogical to give different present worth value to $1 received, say, 10 years from now, which is the circumstance resulting in comparing projects with different DCF returns. In fact, $1 received in 10 years has the same value regardless of which project generated the income. DCF return thus favors investment projects which are expected to provide early income as compared to those providing long-term income. Not surprisingly, the controversy on reinvestment assumption is an old one. Hoskold' discussed this same problem in 1877. He considered the future income from mineral properties as an annuity or a series of fixed future payments. (As will be demonstrated, his equation can be modified for variable income.) Prior to Hoskold, the value or what one could pay for the mine, was determined with the use of standard, single-interest tables. Here is what Hoskold said with regard to these tables. "This table, and others of its kind, to be found in most works on annuities, is constructed correctly according to

Jan 1, 1959

By J. D. Price, W. M. Bertholf

One of the chief difficulties with which the operator of a coal washing plant has been forced to contend is the handling of the very fine coal. First he has the problem of separating the fine coal from washery water. This is usually accomplished by the use of settling cones or Dorr thickeners: in either event the separated fine coal contains a high amount (40 to 80 pct) of water and, somewhat loosely, dependent upon the size of the coal particles present, may be known as sludge or slurry. His second problem is the satisfactory further dewatering of such separated sludge and/or slurry.

Jan 1, 1949

[I-Institute of Metals Division PAUL D. MERICA, Chairman ZAY JEFFRIES, Vice-chairman W. M. CORSE, Secretary General Committee ROBERT J. ANDERSON H. C. JENNISON L. W. SPRING WILLIAN K. FRANK DAVID LEVINGER R. L. SUHL J. R. FREEMAN, JR. PAUL McKINNEY R. F. WOOD]

Jan 1, 1928

By Roscoe W. Stensrud

Marcona Mining Company operations are located 500 kilometers south of Lima, Peru, on the Pacific Coast, at approximately 15º-22' latitude south and 75º-11' longitude west. The terrain is sandy rolling hills ranging from sea level at the coast and rising sharply (escarpment) to an elevation of 800 meters at the mine area. The climate is arid and windy with a moderate year-round temperature, ideal for a year-round mining operation. San Juan, a new and modern community of 14,000 inhabitants and developed by Marcona, houses the working forces and their families.

Jan 11, 1968

By AIME AIME

Further details of the 97th meeting of the Institute, at Spokane, have been sent to members in the Special Circular of May 8, 1909, and for convenience a summary of the additional information is given later in this announcement. In spite of the present small number who have joined the party, final arrangements have been made to complete the itinerary given in the circular. It is greatly to be desired, both in behalf of the Institute and in recognition of the special courtesies to be extended on the trip, that the party be made larger. Exceptional facilities to visit the many mines and smelters have been freely provided; and members are requested to make all reasonable effort to attend the meeting at Spokane and participate in the excursions. . For those who cannot take the entire trip, it may be possible to provide special Pullman accommodations after leaving the Yellowstone Park. In order to make the necessary arrangements, however, the names of members and guests contemplating this partial trip should be sent at once to Mr. Theodore Dwight, .39 West 39th St., New York, N. Y. A special train of Pullman cars will leave Chicago September 16. This train will be side-tracked at all places visited, and the sleepers will be available for lodging and the dining-car for meals (luring the entire trip, except while taking the tour through the Yellowstone Park. The general cost of the trip per member will be $300, which includes transportation, berth, and meals for the entire trip from Chicago back to Chicago, almost 6,000 miles, and the tour through Yellowstone Park, occupying in all about 30 days. Special accommodations on the train will be furnished at the following rates

Aug 1, 1909

G. SHERBURNE ROGERS,* Washington, D. C. (written discussion?).- We are indebted to Captain Lucas for an interesting contribution to the literature of the salt-dome oil fields, and especially for his suggestion that a more aggressive method -of prospecting be adopted. The occasional discovery of new fields on, the Gulf Coast is in itself sufficient to show that the oil possibilities of the region are by no means exhausted, and those who have studied the area most thoroughly are the most optimistic regarding its future. Nevertheless, the search for new fields, according to present methods, involves the expenditure of great sums of money annually, for the proportion of dry holes to producing wells drilled yearly in the Gulf Coast region is much' greater than in most areas, even if all the wells drilled in what is commonly regarded as proved territory are included. Not only are the present methods of locating new domes very uncertain, but when a dome is discovered there is no assurance that it will be oil-bearing; or, if so, whether the oil occurs in the cap-rock, in the sands above it, or in some small isolated lens of sand far down on the flanks of the salt mass. As Captain Lucas points out, about all we positively know is that the domes are there and that some of them are oil-bearing; their origin is a matter of controversy and the original source of the oil is conjectural. Under these conditions, it is not surprising that the search for oil is conducted more or less blindly and that dry holes are common. Many wells are drilled each year in an endeavor to find oil at depths of 2000 or 3000 ft. (609 to 914 m.) or less, in locations which most geologists would condemn without hesitation. As Captain Lucas suggests, the money spent in this way might be used to far better advantage in, drilling one deep well in a carefully selected locality. Opinions may differ as to whether such a, well would find oil, and many geologists will probably believe that the chances are against it, yet all will agree that the boring, whether it finds oil or not, will probably throw light on the origin of the domes and on the source and mode of accumulation of the oil, and will therefore be of great interest, not only to the scientist, but to the oil operator.

Jan 10, 1918

Since the comprehensive review of the Persian fields presented by Sir John Cadman last year, operations have proceeded normally. No developments of especial importance fall to be recorded and it remains only to bring up to date the full information given at the beginning of 1933. Controlled production from the Masjid-i-Sulaiman and Haft Kel fields has been maintained at slightly higher rates than during 1932. The figures for the past five years are as follows: These represent crude oil and products piped to the coast but exclude products reinjected into the reservoir, a process that has been in continuous operation at Masjid-i-Sulaiman during the period under review. The systematic delimitation of the Haft Kel field has been continued during the past year and results have been sufficiently encouraging to justify the inception of a wider scheme for distribution of production. Drilling has been resumed recently in the Persian sector of the Naft Khaneh field, and preliminary survey work is in progress for the selection of a site for a refinery at Kermanshah arid the construction of a connecting pipe line. Investigations in connection with the scientific control of reservoir were dealt with in considerable detail in last year's review. This work has been steadily pursued during 1933 and certain of the investigations have been the subject of papers presented to the World Petroleum Congress held in London in July of last year.

Jan 1, 1934

By Roger L. Goin

Maintaining smooth haulage roads is a key to significant cost savings at Kennecott Copper Corp.'s Bing- ham Canyon copper mine, located near Salt Lake City, Utah. The truck operations section of the mine moves an estimated 300,000 tpd of waste plus some ore to maintain a balanced production cycle. A three-year truck replacement program has produced a dramatic new look in both size and capacity of the truck fleet. Currently there are 95 haulage trucks in the Bingham fleet with capacities up to 150 t. The trend towards the larger haulage units places greater importance on overall truck availability. The impact of a 150-t truck being out of service is far more critical than with the former 65 or 85-t units.

Jan 12, 1974

By T. A. Rickard

Slovenliness is as reprehensible in words as in clothes. Much writing that we recognize as poor in style is merely sloppy. Just as some students postpone the necessary shave or forget to change their collars, so young engineers in writing drop their articles, definite and indefinite, or omit prepositions where they are required, possibly to compensate for these they use unnecessarily The work will begin [on] Saturday. The work will begin [on] Saturday. `Influenza seriously affected many mines [during] the last three months. Flotation in America [during] the last two years has made tremendous strides. Construction of the mill started [on] August 12, 1915, at which time 75% of the excavation was completed. The idea I wish to convey is [that] there are mineral deposits to which the present law applies badly. For this reason, if there was [for] no other, the ownership of the ore below and [of] the surface above should go together. When a unit of mapping is furnished, be the unit a claim or [a] group of claims, it is necessary .. . A fully stocked store was started in Park City and all employees [were] sold merchandise on a strictly cost basis. The word "merchandise" is left without government or agreement. I suggest: ". . . and merchandise] was sold to all the employees on a strictly cash basis.". The verb `be' is serving concurrently both as a principal and as an auxiliary in the following: At first the work was interesting and [was] liked by most of the men. The sulphide ore was more complex or [was] milled at an increased cost. The failure to repeat tie auxiliary verb in successive clauses is a common error, as in The filter is filled with liquid allowed to empty, and then ignited.

Jan 1, 1931

[NOTE.-The names of authors of papers are printed in small capitals, and the titles of papers, in italics. Casual notices, giving but little information, are indicated by bracketed page numbers. Large Roman numerals are volume numbers; small Roman numerals after volume numbers following titles indicate the page on which the presentation of the paper is mentioned; Arabic figures refer to the text of the printed papers.] A Use Classification of Coal, (ASHLEY) LXII [xiv]; LXIII, 782; Discussion: (HALL), 794; (ZERN) , 795; (ASHLEY), 795 Absorbent material, liquid-oxygen explosives, LXXI, 1251. Absorbents for liquid-oxygen explosives, LXIX, 292, 299. Absorption : cupellation : gold, special cupels, LIX, 194. primary and secondary, LIX, 213. ratio of silver to gold, LIX, 212. silver, specla1 cupels, LIX, 195. Absorption method, gasoline from natural gas, LIX, 584, 585. Absorptzon of Sulfur from Producer Gas zn Open-hearth Furnaces (NEAD), LXX, 176; Discussion: ( WATERHOUSE), 184 ; (REYNDERS) , 184; (KINNEY), 184 Accelerated wearing tests, bearing metals, LXIX, 973. Accident prevention, results, Utah, LXVIII, 360 Accident Prevention, 1919 (SINN), LXIII, [xiii] Accidents: causes in coal mines, LXXI, 1229. classification, Anaconda Copper Mining Co., LXVIII, 9. coal mining: comparison with metal mining, LXVIII, 360. pillar mining, LXVIII, 323. relation to method, LXVIII, 323 shafts, LXVIII, 207, 209 Utah, LXVIII, 363 - concentrating mills, Utah, LXVIII, 362 liquid-oxygen explosives, LXIX, 330, 339 losses through, LVIII, 65 metal mining, LXVIII, 361, 363. mine: causes, LIX, 652. curve of decrease, LIX, 655 days of greatest frequency, LIX, 657 human element as cause, LIX, 652, 653. intemperance as cause, LIX, 658 labor relation, LIX, 652 prevention, LIX, 653. record, New Jersey Zinc Co., Franklin mine, LIX, 655 time of greatest frequency, LIX, 657, 658 Utah, LXVIII, 360 prevention, LVIII, 65 report blanks, Anaconda Copper Mining Co, LXVIII, 13, 15. statistical base, Anaconda Copper Mining Co, LXVIII, 9 time lost, LVIII, 70 transportation, Clifton-Morenci district, LXX, 851.

Jan 1, 1926

By Felix A. Vogel

I (New York Meeting, February, 1912.) FLUE-DUST, to most blast-furnace operators, means a troublesome by-product, the formation of which should be curtailed, if not prevented entirely. However, with the increasing use of fine ores, larger furnaces, and high-pressure blast, the production of flue-dust is constantly increasing, and amounts annually in the United States to from 3,000,000 to 3,500,000 tons, An exceedingly high tonnage, of which a large part has been discarded as valueless. As a result of greater economy in the iron industry, the attention of our furnace-men has been directed towards the utilization of this enormous amount of waste material, a problem which had also been given due consideration by metallurgists abroad. Flue-dust is generally a fine material containing considerable coke and iron-ore, with a small admixture of lime and silica, depending upon the burden. The iron-ore is partly reduced, which shows that the dust originates largely in the reducing-zone of the blast-furnace. In the United States this dust usually contains 20 per cent. of coke and more than 40 per cent. of iron. Estimating coke to be worth $3.25 per ton, and iron-ore 7 cents per unit, a ton of flue-dust, unless made available, represents a loss to the furnace-man of $3.50. This accounts for the first efforts to recharge the flue-dust into the furnace, either by moistening it clown with an excess of water, or mixing it with clay to form balls of pulp, or treating it with lime-water. These methods, however, have been practically discarded, as they failed to produce the desired economies. To recover, in the blast-furnace, all the values represented by the material contained in the flue-dust, the following con¬ditions should be complied with

May 1, 1912