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By Scott Turner

AS IN OTHER lines of engineering, progress in mining was influenced during 1931 by the world-wide economic depression. Low-metal prices ? resulted in active efforts to reduce production costs of base-metal mines. Probably the chief factors in reducing costs were the greater efficiency of labor, due to better relations between management and workmen, to the scarcity of jobs, reduced wages in most base-metal mines, and to lower overhead expenses secured by drastic economies. The use of mechanical equipment continued to increase, due to more efficient designs and a better practical understanding of the applicability of such equipment to requirements. With one exception, there were no startling innovations in stoping methods, but there was notable progress in the better adaptation of mining methods. In the United States, no large new base-metal or silver mines came into production during the year. At a number of mines, output was curtailed, and operations were discontinued at several important producers. On the other hand world-wide interest in gold was stimulated, as evidenced by increased output from producing mines, the reopening of some old properties, and intensive prospecting for new deposits. Mining methods at several gold mines in the United States and Canada were modified or changed to obtain a higher extraction of ore or to meet the need for additional support of the mine workings at depth. Permanent record of improvements in mining practices has been made during the year by the Federal Government; the industry thus has available for its use more detailed information than ever before. This work was done through cooperation of the mining companies and their representatives with the United States Bureau of Mines, whereby many papers descriptive of practices and costs at individual mines have been published. The Bureau's program of describing methods and costs at the more important mines (those producing in excess of $100,000 annually) is nearly completed, but papers will be issued concerning such additional mines as may possess particular interest because of novel methods, exceptional conditions or operating results, and others to supplement reports already issued. In this way, an interesting record of the results of changing conditions, or innovations in methods, will be made available.

Jan 1, 1932

By AIME AIME

Adjustable Pyrometer-Stand. By L. W. BAHNEY, xxxvii, 33. Agency of Manganese in the Superficial Alteration and Secondary Enrichment of Gold-Deposits in the United States. By WILLIAM H. EMMONS, xlvi, 767. Application of Descriptive Geometry to Mining-Problems. By JOSEPH W. ROE, xxxix, 173. ARNOLD, C. EVERARD. The Giroux Shaft at Kimberly, Nev., xlii, 461. BAHNEY, L. W. An Adjustable Pyrometer-Stand, xxxvii, 33. BALL, SYDNEY H., and SHALER, MILLARD K. Mining-Conditions in the Belgian Congo, xxxix, 253. BEALS, ROGER L., and TWEEDY, GEORGE A. Cyanide-Plant and Practice at the Minas del Tajo, Rosario, Sinaloa, Mexico, xxxviii, 123.

Dec 1, 1910

By Albert J. Phillips

SEVERAL important changes have been' made during 1933 in the compilation and distribution of technical literature to those interested in nonferrous physical metallurgy. The Institute of Metals, of Great Britain, announced that preprints of all its papers would be distributed monthly to all members in combination with their bulletin of abstracts. The A.I.M.E. has announced that it will distribute to all members of the Institute of Metals and Iron and Steel Divisions a monthly bulletin entitled Metals, which will carry preprints of all publications of interest to the members of these two divisions. The American Society for Steel Treating has declared its intention to change its name to the American Society for Metals in order to indicate the broader scope of its activities. The abstract service of Metals and Alloys has been improved and expanded, covering practically the entire field of metallurgical literature. These changes and innovations now provide unparalleled reference service entirely in the English language.

Jan 1, 1934

MINING METHODS. JAY A. CARPENTER, Chairman P. B. BUCKY, Vice-Chairman CLYDE E. WEED, Vice-Chairman ROY A. HARDY, Secretary Alluvial Mining CLINTON BERNARD O. B. PERRY NORMAN CLEAVELAND C. M. ROMANOWITZ R. B. EARL! NO J. B. STAPLER BENERE H. GRANT CHARLES THURMAN Open-Cut Mining Iron A. D. CHISHOLM P. G. HARRISON G. E. DIEHL EARL E. RUNNER G. E. LEVEQOE

Jan 1, 1942

By George A. Miller

OIL, the abundance of it in the hands of the Allies and the lack of it in the hands of the Axis, played a major role in winning World War II. It bids fair to implement the winning of the peace. In fact the signing of the revised agreement on petroleum between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the United States of America on Sept. 24, 1945, may be considered as the first step in establishing a new pattern in foreign relations by our Government. The significance of this agreement on petroleum is that it was arrived at on the part of the United States of America through the advice and consent of the most interested parties, the leaders of the petroleum industry and the Government, distinctly a first step toward unifying the power of business and the strength of the Government, which places us on a par with the British Crown which has always had the advice and counsel of its business leaders in formulating its foreign trade policies. And what is the thing so patently discernible in this new first step toward winning the peace? It is that the petroleum agreement, the first draft of which, signed in Washington on Aug. 8, 1944, almost caused an epidemic of apoplexy among the leaders of the oil industry, represents the desire of the people most concerned with the problems of petroleum both at home and abroad. This new agreement, which will come up before the Senate for ratification this month-hearings will commence in January - derives its "power from the consent of the governed," something about which our forefathers were vitally concerned once upon a time.

Jan 1, 1946

PRESIDENTS DAVID THOMAS 1871 R W RAYMOND 1872-1874 A L HOLLEY1875 ABRAM S HEWITT 1876 T STERRY HUNT 1877 ECKLEY B COXE 1878 - 1879 WILLIAM P SHINN 1880 WILLIAM METCALF 1881 RICHARD P ROTHWELL 1882 ROBERY W HUNT 1883 JAMES C, BAYLES 1884-1885 ROBERT H RICHARDS 1886 THOMAS EGLESTON 1887 WILLIAM B POTTER 1888 RICHARD PEARCE 1889

Jan 1, 1923

By WILLIAM BOWIE

THE development of the isostatic idea during the last century would make an interesting paper in itself. But the various steps in the development have been covered in a number of papers and books which are readily available. Therefore this short paper should not give space to. the historical phases of the subject. Isostasy is really an old idea, but it is only in the last few decades that it has taken on any great prominence or importance in the study of earth phenomena. It is really remarkable how closely Dutton' sensed the isostatic principle 40 years or more ago. His general principles of isostasy as outlined by him have stood the test of time and fit in closely with the general ideas held today. It would seem, however, that some of his views with regard to the application of isostasy to geological processes must be modified or abandoned.

Jan 1, 1930

By Perry Harrison

THE increased use of sintering for the beneficiation of iron ores and the reclaiming of flue dust creates a lively interest in sintering costs and, economics. The character of material sintered and geographical location of plants so radically alter sintering costs and economics that it is well to understand at least the basic elements which control such changes. The following cost factors are believed to be roughly approximated for large-scale Dwight-Lloyd 'continuously operated sinter-machine installations located anywhere. PER CRUDE TON Labor, supplies and repairs 0.15 Power 6.5¢ X kw-hr. rate ? Plant overhead and administration 0.05 Depreciation per ton annual capacity 0.05 Fuel: 6 per cent coke breeze or equivalent minimum ? 1 per cent coke breeze additional for each 5 per cent free and combined water in ore or dust ? Ignition distillate at 0.6 gal. per ton ? PER SINTER TON Royalty on Ore 0.10 Royalty on Flue Dust 0.15 PER CRUDE TON "Winter expense"; i. z., the cost of the five months enforced idle . period for plants tied in to Great Lakes transportation season 0.03 Using the foregoing data, it is possible to roughly approximate the cost of efficient sintering at any location for. any ore, viz:

Jan 1, 1932

By P. E. Fitzgerald

ACIDIZING, as the terns is used in the petroleum production industry, involves the use of hydrochloric acid in predominantly limestone formations, resulting in the lowering of resistance offered to the flow of oil and gas through the oil-bearing formation, usually with resultant increased production. A number of articles have been written on the chemical treatment of oil and gas wells; a bibliography of these works will appear in Volume 123 of the Institute's TRANSACTIONS (1937), and a few other references are appended to this paper.

Jan 1, 1937

By John A. Gann

The following investigation constitutes a brief réumé of the more important binary magnesium alloys from the standpoint of metallo-graphic technique, and the effect of heat treatment on structure and properties. The comparative newness of the subject justifies this procedure as a preface to a more detailed study of each individual series of alloys. The work was started with the idea of practical application in the industry rather than as a theoretical investigation. The alloy compositions studied were selected as those most likely to show whether heat treatment would produce beneficial results. Furthermore, it was considered satisfactory to use commercial 99.9 per cent. magnesium, the best commercial grade of alloying ingredients, and to limit the time of heat treatment at the expense of incomplete equilibrium. These facts must be kept in mind when examining the results obtained, and the conclusions drawn. Preparation of Alloys All melts were made in an oil-fired cast-steel pot, approximately 12 in. dia, by 12 in. deep. Approximately 15 lb. of flux and 50 lb. of magnesium were melted and the calculated amount of alloying metal was added. After thorough alloying and puddling, the metal was chill cast in a graphite mold with four 1/2 by 1/2 by 4 in. bars fed from a common sprue and runner. The next higher composition alloy in a given series was made by adding the calculated amount of metal to the heel from the preceding cast. The pot was thoroughly cleaned after each series and new flux then introduced, thus avoiding possible contamination from earlier melts. The percentage compositions given in Table 1 are the calculated values. While not all alloys were analyzed, enough were checked to indicate that the reported compositions are correct to a few tenths of one per cent. A more detailed description of the foundry methods employed has been given in a previous paper. 1

Jan 1, 1929

By John A. Gann

The following investigation constitutes a brief réumé of the more important binary magnesium alloys from the standpoint of metallo-graphic technique, and the effect of heat treatment on structure and properties. The comparative newness of the subject justifies this procedure as a preface to a more detailed study of each individual series of alloys. The work was started with the idea of practical application in the industry rather than as a theoretical investigation. The alloy compositions studied were selected as those most likely to show whether heat treatment would produce beneficial results. Furthermore, it was considered satisfactory to use commercial 99.9 per cent. magnesium, the best commercial grade of alloying ingredients, and to limit the time of heat treatment at the expense of incomplete equilibrium. These facts must be kept in mind when examining the results obtained, and the conclusions drawn. Preparation of Alloys All melts were made in an oil-fired cast-steel pot, approximately 12 in. dia, by 12 in. deep. Approximately 15 lb. of flux and 50 lb. of magnesium were melted and the calculated amount of alloying metal was added. After thorough alloying and puddling, the metal was chill cast in a graphite mold with four 1/2 by 1/2 by 4 in. bars fed from a common sprue and runner. The next higher composition alloy in a given series was made by adding the calculated amount of metal to the heel from the preceding cast. The pot was thoroughly cleaned after each series and new flux then introduced, thus avoiding possible contamination from earlier melts. The percentage compositions given in Table 1 are the calculated values. While not all alloys were analyzed, enough were checked to indicate that the reported compositions are correct to a few tenths of one per cent. A more detailed description of the foundry methods employed has been given in a previous paper. 1

Jan 1, 1929

By N. W. Shed

The specifications for bridge-steel are usually not severe. The main difficulty is to secure a material which will roll easily, without showing signs of cracking on the corners of the blooms or on the flanges of the beams. In many mills sulphur has been deemed the most harmful constituent in this respect. It has been thought hazardous.to roll steel containing over 0.07 per cent. of sulphur. Yet, in making steel for the Phoenix Iron Company, I have produced from stock running as high as 0.13 per cent. of sulphur a material which rolled very satisfactorily. It is reasonable to infer that the injurious effect of sulphur can be neutralized, to a great extent, by proper treatment in the open-hearth furnace; and the following notes from my usual practice here may be of interest to those obliged to use high-sulphur stock. The steel made at Phoenixville in the 20-ton furnaces has about the following composition : Per cent. Carbon,...0.15 to 0.20 Manganese,.........0.50 to 0.60 Sulphur,..........0.11 to 0.13 Phosphorus,.: .0.04 to 0.06 Silicon,.......... 0.01 to 0.02 The best running heats were made with a small amount of pigiron. In using large proportions of pig the quantity of ore is also increased. This not only cuts the bottom, but also lengthens the time required to bring the charge down. Up to 50 per cent. of pig may be used, but 25 per cent. is much better. A 40,000-pound charge, containing 10,000 pounds of pig and 30,000 pounds of Bessemer butts or beam-scrap, works very well.

Jan 1, 1890

By E. J. KENNEDY

THE annual dinner-dance was held in the large ball room of the Commodore hotel Wednesday evening. A total of 577 were seated at the dinner, over which President Eavenson presided as chairman and toastmaster. In introducing George C. Stone, the James Douglas Medalist, W. R. Ingalls outlined the former's association with the zinc industry. He said, in part In designing and building Palmerton, Stone erected a metallurgical monument and won the title of chief engineer of the New Jersey Zinc Co., with transferal to its New York office in 1900. There lie held forth in dignity, efficiency, and with appreciation until his retirement from active service in 1929. After a few years lie was diverted from the position of chief engineer for his company to the superior one of chief metallurgist and that gave to Stone his next big chance.... This was the conception of a research department and the ability to persuade his directors to adopt it. I shall not pretend to summarize the great things that afterward developed. I shall mention only the institution of the manufacture of lithopone in this country, the charging of the Wetherill furnace with briquets, the mechanicalization of the Wetherills, the accomplishment of continuous distilling, and most recently the introduction of reflux-refining.

Jan 1, 1935

By L. J. Kashar

By means of a continuum-mechanics approach, the following equation for calculuting the pressure for axisymmetric cold forging has been derived: where P is the extrusion pressure; K and n are the strength coefficient and the strain-hardening exponent of the steel, respectively; a and b are strain factors, primarily dependent on the die design; and R is the extrusion ratio. Data from compression and backward-extrusion tests performed at a crosshead speed of 0.5 in. per min on a nonwork-hardening material pure lead) and on a work-hardening material (1018 steel) indicate that the predicted extrusion pressures obtained from the derived equation agree very closely with the actual extrusion pressures. Therefore, the equation can be used to predict backward-extrusion pressures from standard mechanical-test data. The decision to cold-forge a part is based on several considerations, most of them related to economics. However, the production feasibility is usually determined by the pressure needed to extrude the part and the availability of tooling that can repeatedly sustain this pressure for over several hundred thousand cycles. A major contribution to the cold forging of steel would result from the development of steels that could be forged at reduced pressures and from the development of techniques that permit the accurate prediction of the pressure necessary to cold-forge the part. The ability to predict extrusion pressures is necessary to properly design the tooling required for the cold-forging process. Attempts to theoretically predict the cold-forging pressure, especially for work-hardening materials, have been unsuccessful in previous investigations of the cold-forging process.1-3 Many empirical relations have, therefore, been proposed relating the extrusion pressure to the chemical composition,' the extrusion ratio,2 the tensile strength,273 and hard- ness, 2 and the yield strength3 of the material being extruded. However, these empirical relations are valid only for the specific conditions used in their development, and, in some cases, the empirical relations had a scatter band greater than * 10 pct. A study of the extrusion process was undertaken with the objective of developing predictor equations for extrusion pressure by using a continuum-mechanics approach to the problem of metal flow. The derivation of such an equation is summarized in this paper, and data are presented that confirm the validity of the derived equation. DERIVATION OF THE EXTRUSION EQUATION If the extrusion of a material through a die is considered in terms of a work balance, it has been shown that it is possible to derive an equation relating the work necessary to move the material through the die to the deformation work undergone by the material. The work done, W, in moving the material is given by where F is the extrusion force, I, is the distance the material was moved, A, is the original cross-sectional area of the material, P is the extrusion pressure acting on A,, Ap is the cross-sectional area of the extrusion punch, and Pp is the punch pressure acting on Ap. The deformation work, WD, is given by where V is the volume of metal deformed, ay is the flow stress of the metal, and E is the total strain undergone in the extrusion. If there are no frictional losses, the work done, W, is equal to the deformation work, WD; therefore, Since the volume of a metal does not change during deformation,

Jan 1, 1968

By S. H. Moll, R. E. Ogilvie

The investigation of solid-state diffusion phenomena may lead to much information concerning binary alloys. In particular, a study of the concentration gradients present in multiphase diffusion couples can lead to the determination of the solubility limits of the single-phase fields in the phase diagram. The specific concentration gradient which results from the heat treatment of a diffusion couple depends not only upon the time and temperature of diffusion, but also upon the number of phases existing in equilibrium at the diffusion temperature. Such concentration gradients possess sharp discontinuities whose terminal points correspond to the solubilities existing at the limits of the two-phase field in the phase diagram at the diffusion temperature. In general, there will be a discontinuity in the concentration curve for each two-phase field which exists in the phase diagram between the concentration limits of the couple. A number of investigators have analyzed the gradients present in multiphase diffusion couples. 1-8 The iron-titanium phase diagram exhibits a y loop in the temperature range from 900" to 1400°C, and the limit of the a + y field lies at some composition which is less than 1 wt pct Ti for any temperature. It was felt that a diffusion study could yield values not only for the diffusion coefficients involved, but also for the chemical solubilities in the phase diagram. The concentration gradients were analyzed by an X-ray absorption technique developed by Ogilvie.6 The absorption of a monochromatic X-ray beam is measured in steps parallel to the diffusion direction and the resulting intensity gradients are transformed into concentration gradients by applying the laws of X-ray absorption in a binary system. This technique has been applied by ogilvie6 to the systems Ni-Au, Cu-Au, Fe-Cr, and Ni-Cr; by Gelles7 to the systems Be-Fe, and Be-Ni and by Hilliarde to the system Al-Zn. Linear X-Ray Absorption Analysis—The use of X-ray absorption analysis as a tool for determining concentration gradients arises from the fact that the beam is absorbed according to the quantity and species of elements present in the sample and not according to their state of aggregation. This method is more advantageous than the chemical analysis of machined layers since it is less time consuming and less expensive and can analyze a very small area. IF a homogeneous binary alloy (A + B) is analyzed with two different monochromatic X-ray beams I0(2) and lo(2) the following relation between the transmitted intensities, the intrinsic absorption coefficients of A and B for the two different radiations and the weight fraction of each element may be derived.' In (I/Io) (a+b) xa(u/p)a(2) + xb(u/p)8(2) Eq. [1] is independent of specimen thickness and density, but requires that either element A or B possess an absorption edge between the wavelength limits of the two monochromatic beams. I, is evaluated for each radiation by measuring the transmitted intensity through a varying number of foils of a suitable absorber. A plot of the natural logarithm of the transmitted intensity as a function of the number of foils, when extrapolated to zero foils, yields the value of I,. If a plot of the ratio in Eq. [ I] is calculated as a function of xA, then a master curve results. From

Jan 1, 1960

By E. V. Kleber, V. F. Novy, R. C. Vickery

The constitutional diagram has been determined in part for the sgstem Gd-Fe. Seven intermetallic compounds have been found at compositions corresponding to the following Gd-Fe ratios; 2:3, 1.2, 1:3, 2:7, 1:4, 1:5, and 2:17. The GdFe, com-pound has a congruent melting point above 18000C, whereas all of the remaining compounds melt incongruently, A eutectic exists at 13 wt pct Fe at a temperature of 860°C. ALTHOUGH an increasing amount of information is becoming available on the metallurgy of pure rare earth metals, relatively few studies have been made on alloy systems of the rare earths with the transition metals; iron, nickel, and cobalt. Even less data are extant on gadolinium alloys although it could be expected that such alloys might possess interesting structural and magnetic properties. In this paper, we report investigation of the gadolinium-iron alloy system. Studies on systems containing nickel and cobalt will be presented in subsequent papers. Previous data on gadolinium-iron compounds have been reported by Endter and Klemm1 and Jep-son and Duwez.2 Both reports agree on the existence of the GdFe2 phase, which crystallizes with the C-15type structure (face-centered cubic). This is in accord with results of the present work. EXPERIMENTAL The gadolinium metal used was prepared by met-allothermic reduction of high purity gadolinium fluoride. A typical analysis of the metal thus produced indicated the principal impurities to be oxygen, 0.24 pct, and tantalum, 0.2 pct. The iron metal used for alloying was a reagent grade material. Alloys were prepared by arc melting mixtures of the respective metals. Appropriate quantities of the two component metals were carefully weighed, blended and compacted. The compacts were then melted in an arc furnace consisting of a water-cooled copper hearth plate and a water-cooled tungsten-tipped counter electrode contained in a brass vacuum chamber. The furnace was evacuated to an absolute pressure of less than 1 with the leak rate established as being less than 20 per min. The furnace was then back-filled to a pressure of 25 mm of Hg, with a 75 pct He-25 pct Ar mixture. Arc melting at 25 v and 300 amp was maintained for about 30 to 60 sec until the entire visible area of the sample became molten, by which time surface tension had drawn the molten metal pool into a large bead. After allowing the furnace to cool, the alloy button was inverted and the melting process repeated. A series of melts was made covering entire composition ranges from 100 pct Gd to 100 pct Fe. All samples were examined metallographically in the as-melted condition. As the phase diagram became rationalized, and differential thermal analysis had given indications of temperature arrests, annealing was carried out in vacuo or in argon. Generally, compositions containing more than about 60 pct Gd were heat treated at 750°C and alloys containing less than this quantity of gadolinium were annealed at 1000°C. Prolonged annealing times were of the order of 100 to 200 hr. Metallographic examination was repeated on the annealed materials. Although little material loss was noted during alloy preparation, chemical analyses were made on all specimens prepared. The following standard, analytical techniques were used. Samples were dissolved in hydrochloric acid; insoluble material was filtered off, ignited and fused with potassium pyro-sulfate. The cold melt was leached with dilute acid and the solution thus obtained added to the main sample solution. Gadolinium was always determined gravimetri-callv as oxide from oxalate ignition. Iron was removed from an aliquot sample by electrolysis on a mercury cathode at approximately six volts. Gadolinium in the iron-free electrolyte was then precipitated as oxalate which was subsequently ignited to oxide. Iron was determined volumetrically in an aliquot solution by reduction with stannous chloride fol-

Jan 1, 1962

By I. Iwasaki, K. A. Nataratjan

In a previous paper, ozone was shown to remove residual xanthates in flotation pulp solutions as well as to destroy the xanthate coating on bulk copper-nickel sulfide concentrates before differential flotation (Iwasaki and Malicsi, 1985). The oxidation and decom- position mechanisms of xanthate solutions in the presence of commonly used oxidants such as oxygen, chlorine, hypochlorite, bromine, iodine, and hydrogen peroxide at different pH levels have been reported in the past (Rao, 1971). Most of these studies have been restricted to xanthate solutions of pH less than 10. Very few references are available on xanthate decomposition in highly alkaline (pH > 12) solutions (Jones and Woodcock, 1983; Philipp and Fichte, 1960; Tipman and Leja, 1975). No systematic study of xanthate oxidation by ozone has been reported, although its use in flotation has been recognized of late (Allegrini et al., IWO; Ishii et al., 1970; Matsubara et al., 1978). To improve the efficiency of ozone use in flotation, it is essential to understand the mechanisms involved in the decomposition of xanthates with ozone, more specifically, to establish the stoichiometry and decomposition rate. In the present work, a preliminary attempt was made to investigate the effect of pH on xanthate decomposition, and probable mechanisms of xanthate oxidation with ozone.

Jan 1, 1986

By W. J. West, T. D. Mueller, J. E. Warren

Two methods are used to obtain the relatiorlship between ratio of gas to oil permeability and gas saturation. One method is to calculate a curve from field measurements of reservoir behavior: the other is to measure the relationship on a core .sample in the laboratory. The curves resulting from these TWO methods arc often comparer1 and seldom found to agree. The most important reason for the nonagreement is often overlooked. This reason is that the performance k9/k0 curve is calculated with the assumption of uniform pressure and saturution throughout the reservoir. To show the differerence between performance type kg/k0 curves and laboratory type kg/k0 curves. two performance type kg/k0 curves for two different production rates were calculaled from the production perforrnance of a hypothetical reservoir for which a laboratory type curve was assumed. Production performance of the hypothetical reservoir bras calcu- lated by use of international Business Machine's 701 Computer. The perfortnance type kg/k0 curves differed from the laboratory curve for the hypothetical reservoir. The performance type crrrve for the lowest production rate most nearly coincided with the laboratory curve. INTRODUCTION Predictions of oil reservoir performance are often made with the aid of complex numerical calculations. An important quantity required in these calculations is the ratio of gas permeability to oil permeability (kg/k0 )at a particular gas saturation. Two methods arc used to obtain a relationship between this ratio and gas saturation. The curves resulting from these two methods are called performance kg/k0 curves and laboratory kg/k0 curves. The performance curve is obtained from field measurements of reservoir behavior. Particular kg/k0 values are calculated from the producing gas-oil ratio, the cumulative reservoir withdrawals, the original oil in place, the average reservoir pressure, and the PVT properties of the reservoir fluids. The particular kg/k0 values are then plotted against the average rcservoir gas saturations for the entire history period. In order to use this derived kg/k0 relationship for performance predictions, a curve through these points is extrapolated to higher gas saturations. The laboratory kg/k0 curve is obtained from measurements made on core samples. Saturation is maintained uniform throughout the core during these measurements. The kg/k0 curves obtained with these two independent methods are often compared and seldom are found to be the same. Various reasons have been offered for the lack of correlation. One is that insufficient core? were obtained to derive a curve representative of the reservoir rock. Another is that laboratory methods have failed to reproduce reservoir conditions. The most important reason for the noncorrelation has been often overlooked because of the difficulty in evaluating its effect. This reason is that the performance or field kg/k0 curve is calculated with the assumption of uniform pressure and saturation throughout the reservoir. In any

Jan 1, 1956

INTRODUCTION Trade financing is a particularly important component of short-term financing for a minerals company since errors, extra costs, or payment delays/defaults can easily wipe out the profit margin on a particular shipment or can cause problems when arranging purchases of e.g. reagents. It is required to make any minerals operation function and does not have to be cross-border to require proper management. Sources of working capital are as follows: 1. Extended credit terms from suppliers 2. Inventory loans from banks, finance companies 3. Accounts receivable financing or factoring 4. Credit lines or overdraft facilities from banks. TRADE CREDITS These are provided under the familiar terms "net 10 days" or payment due by the "10th day of the following month." Thirty days for payment is usual but longer periods can be negotiated with regular suppliers. Shipment may be made on open account with specified periods for settlement. In the mining industry, a custom smelter gains trade credit by paying for concentrates three months after the month of shipment. INVENTORY LOANS Various forms of inventory finance are provided via "floor-plan" or warehouse financing. A set percentage, usually 60%-80%, of a good-quality, readily saleable inventory item (e.g. bullion, concentrates, ingots) will be provided by a bank or finance company which will usually have security over these products and has a right to inspect the goods from time to time. Legal security will he achieved by warehouse receipts, floating liens, chattel mortgages, trust receipts, or through collateral management service companies. The latter certify control over stock or distribution outlets and often carry insurance against fraud. Costs range around 1.5% - 2.0% p.a. or more plus some fees to cover out-of-pockets or other costs. ACCOUNTS RECEIVABLES Accounts receivable financing is based on the company's generation of satisfactory receivables which are continuously assigned to a bank or finance company ("factoring"). Because of the risks in being able to collect receivables, such as payments to a smelter for its blister copper shipments to a refinery, this form of financing costs as much as 3% - 5% of the debt amount purchased plus an additional charge for processing paperwork. Receivables can be purchased with or without recourse and on a notification or non-notification basis to the client's customer to, respectively, pay the invoice directly to the bank or not. LETTERS OF CREDIT Letters of Credit ("L/C's") are a common feature of international trade finance whereby a bank, at the request of the buyer, issues a written undertaking to an exporter to pay a specified sum of money within a set time on presentation of previously specified documents. This undertaking means that the exporter is no longer relying on the credit standing and integrity of the foreign importer. A dispute about shipment does not otherwise affect the obligation to pay upon presentation of a "clean" set of documents. These documents include the hill of lading and other documentation, often on standard "form" bases. There are a number of conventions and techniques in L/C's such as irrevocable/revocable L/C's, time L/C's, confirmation/advising L/C's and transferable L/C's. These are tools to adjust for the varying risks that the importer will not pay. Other routes where one is comfortable with an importer include documentary sight hills (D/P hill), documentary term bills (D/A bill), and, of course, open account.

Jan 1, 1985

By Hans Lundberg

GEOPHYSICAL methods as described in technical articles generally fail to answer the questions of prospectors and geologists as to which method they should apply and what information they may expect from their application. This article is an attempt to discuss the use of electrical methods with special reference to the prospecting for orebodies and the map¬ping of geologic structure. Especially on virgin ground, geological reconnaissance should precede electrical prospecting, with the object of outlining carefully the orebearing rock and determining the possibilities of elec¬trical prospecting. No electrical survey will then be carried out on ground which, for geological reasons, may be considered barren or where the electrical meth¬ods are inapplicable. As the success of electrical prospecting depends on the difference in conductivity between the ore and the country rock within which the orebody is inclosed, the conductivity of the two should be considered and de¬termined, if possible. The conductivity of an orebody depends on the distribution of conductive ore minerals and, in addition, on its size (length, width and depth). Most minerals with metallic luster show good electrical conductivity; for instance, the sulfides. Zinc-blende is an exception, but as it is often associated with the ore minerals of good conductivity (for instance, pyrite or galena), there is likelihood also of finding zinc.

Jan 1, 1930