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INTRODUCTION Besides the European export credit agencies covered in Ted Rides' paper in this Chapter, other agencies are also active (see Appendix) but the most notable for mining projects are The Export-Import Bank of the United States ("US Exim") and the Export Development Corporation ("EDC") of Canada. Mexico's Fomex is basically a short-term trade-finance fund administered by the Central Bank. US Exim This independent agency can provide loans, guarantees, and insurance. Like all export-credit agencies, its mandate is to support the export of goods and services from the US as a means of competing against other countries' products. If a piece of mining equipment can only he made in the US, the US Exim may very well not provide any financial assistance. (It is important not to place the order for any item for which export credit is sought because, once ordered, the situation is no longer competitive in US Exim's eyes.) Direct Credits and financial guarantees ("buyer credits") are commonly in amounts greater than 85 million and for terms longer than six years. An example here is the $48.5 million provided to PT International Nickel Indonesia (see Robert de Gavre's paper in Chapter 12). US Exim usually requires a 15% downpayment and, therefore, finances up to 857 of the goods; less if the US content is lower. The dollar funding can he US prime, London Interbank Offered Rate (LIBOR), or other sources. Exim can fund in either or both of the following ways: 1. Under a US bank Letter of Credit ("L/C") 2. Reimbursement to the buyer/borrower via a US bank account. US Exim will, without charge, issue a preliminary commitment. It will, however, need to approve the various credit agreements and prefers to tie other parallel financings into one loan agreement. US Exim's total commitments are large, up to $5R billion in aggregate under various programs. US Exim has been the world's leader in medium-to long-term minerals project financings/ co-financings but suffers from (i) aggressive foreign export-credit competition whereby other nations mix in soft-loans or aid programs ("mixed credits") to increase the percentage financed and lower the interest margin and (ii) an imbalance in its own cost of funds. A common US Exim package would be as follows: 15% Banks under US Exim guarantee, floating rate over prime or LIBOR. 35% US Exim funding, fixed rate 35% Pefco funding, fixed rate 857 Drawn down pro-rata under US bank L/C 15% Cash down payment (may have been financed within a project/corporate credit) 100% Repayment usually begins six months after planned start-up in equal semi-annual instalments, with the banks usually paid out first, Pefco next, and US Exim last. Medium-term credits ("supplier credits") are issued for US equipment exports for terms up to five years, again for 85% of the equipment costs although the exporter is expected to bear at least 10% out of that 857 for its own risk. The buyer is required to be a first-class credit such as some governments or highly credit-worthy companies. Otherwise a bank L/C would be required. (This may be wrapped into an overall project-finance package for a minerals development. The project-finance banks provide an L/C to US Exim instead of funding that portion themselves.) US Exim guarantees 100% of the political risk and either 85% or 95% of the commercial risk for

Jan 1, 1985

By P. Schwarzkopf, J. H. Brophy

A modification of the Mendenhall wedge blackbody1 has been used to determine solidus temperatures and to anneal alloys in the tantalum-rhenium binary system. The technique has proven to be simple and accurate with modest power requirements. For temperatures up to 2800° C a piece of 10-mil tantalum sheet was folded double and formed as shown in Fig. 1. The middle of the resulting ribbon filament was a cylindrical-shaped crucible with less than a 1/8-in. opening. After inserting a specimen in the cavity, the filament was clamped between molybdenum electrodes in a high vacuum chamber. A representative filament 2 in. long and % in. deep was heated to 2800°C with a current of 700 amp at 4 v. The specimen temperature was determined by sighting into the cavity with a Leeds and Northrup optical pyrometer. The twisted filament shape was necessary to avoid serious geometric changes during thermal expansion. For temperatures between 2800" and 3000°C a 4-mil tungsten filament was employed. To facilitate fabrication it was warm-folded, and a twisted segment of 10-mil tantalum was used to support one end to absorb thermal expansion. This element assembly required about 700 amp at 10 v to reach 3000°C. Two geometric modifications of the filament were helpful for solidus temperature determinations. A shallow chamber, with depth to opening ratio of 3 to 1, permitted direct observation of the specimen through the optical pyrometer. The fact that the specimen was visible permitted the melting point to be determined when sharp features on the specimen surface became rounded; it also indicated that blackbody conditions did not prevail. By standardizing against the melting point of molybdenum, the observed melting temperature was corrected by the following form of Wien's Law: in which T is the true temperature, To is the observed temperature, and K is a constant characteristic of the filament geometry and determined experimentally for the molybdenum standard. The resulting corrected melting point for each alloy served as a reference temperature for the second more precise filament geometry. With a 6 to 1 depth to opening ratio, the specimen was indistinguishable from the filament interior, indicating good blackbody conditions. Using this technique, a series of specimens was isothermally treated at temperatures above and below the corrected direct reading. Incipient melting was detected by visual or micrographic examination of the specimen after cooling. This procedure was checked with specimens of pure chromium, molybdenum, and tantalum. Table I represents the values obtained, together with the solidus temperatures in the tantalum-rhenium binary system determined by the same technique. The alloy specimens were approximately 1/8 in. in diam. They were pieces of 10-g buttons melted four times in a nonconsumable tungsten electrode arc furnace on a water cooled copper hearth in 2/3 atmos of titanium gettered helium. Several sources of error are possible in such temperature measurements. Within the accuracy of the pyrometer no gradients were detectable near the specimen, and element distortion was virtually eliminated by twisting the tantalum. Compensation was made for the 1/8-in. sight glass by inserting several identical thicknesses and extrapolating to zero thickness. As a result an additional 10°C correction was added to all observations in the temperature range of 2500" to 3000°C. The principal source of error was then in the operation of the

Jan 1, 1961

By Mark E. Emerson

INTRODUCTION A long time has passed since geologists encountered encouraging mineralization in their regional exploration program for base metals deposits. Detailed drilling during the following two field seasons served to delineate the configuration of the deposit. Various statistical techniques were employed to provide confidence levels regarding the extent of the reserves and to categorize them according to whether proved, indicated or inferred. At this juncture, it appears that the company has an orebody. Time elapsed? - three years; money spent? - $2.5 million. Much remains to be done before the orebody becomes a mine. The company urgently needs to develop new orebodies to replace its existing mines which are being depleted. It therefore has expended sizable amounts in exploration, the life blood of the company. A staff of specialists is maintained to evaluate new projects and to conduct feasibility studies. The scale of new mining projects today is beyond the resources of most mining companies. Bank financing, therefore, is often vital if the company is to survive. The following scenario describes how a company goes about evaluating mine projects and what is needed to meet lender's criteria in securing the needed financing. MINE PLANNING Now that the company engineers have taken over the project, their concern is no longer with finding ore but in developing it. An exploration shaft has been put down and a tunnel driven into the orebody to verify, on a large scale, what has been seen so far only in pencil- like drill cores. A large tonnage bulk sample is mined and shipped off to an independent metallurgical process laboratory for beneficiation testing. The budget is expended to cover engineering studies. Preliminary capical and operating costs are developed in- house and profitability studies are made based or1 assumptions concerning the markets for the main product and the indicated gold, silver, and other by-products. Time elapsed? - four years; cost to date? - $3.5-$4.5 million. The staff prepares its own pre-feasibility study. After review, the Executive Committee authorizes management to proceed with full-scale studies. The task is to make preliminary designs and to develop definitive capital and operating cost estimates. Specialized consultants will be engaged to study slope stability for the open pit and rock strength if underground recovery proves more feasible. If it is near the sea, an oceanographic report might be commissioned to see if the tailings can be disposed of off shore. Environmental impact studies are commissioned from a firm familiar with government requirements and regulations in this important area. The company subscribes for an expensive multi-client study of the supply- demand-price outlook for the product to support its own long-range price forecast. Now all the numbers are available to make a definitive appraisal of the value of the project. Cash flow analyses and sensitivity studies follow. Reams of computer printouts are generated. Time elapsed: five years. Amount spent? - up to $9 million, depending on the size, complexity and attractiveness of the project. Marginal projects always take longer. Finally, an engineering and construction (E&C) company is given the task of integrating and compiling all the data into a feasibility study. The results of dozens of reports, memoranda, computer printouts, and charts are boiled down to one final summary report of a few hundred pages together with conclusions and recommendations. After thoughtful review at a board meeting, the directors authorize management to proceed with detailed engineering work - provided that

Jan 1, 1985

By O. N. Carlson, D. G. Alexander

THE hardness anisotropy of metals and alloys has been of increasing interest in recent years but silicon ferrite,1 niobium,2 and tungsten3,4 are the only bcc metals about which this type of information has been reported. This investigation was carried out on vanadium and chromium single crystals in an effort to determine to what degree the hardness variations observed in these metals are due to orientation effects and to compare their behavior with other bcc metals. In earlier work the authors had observed a small angular dependence in the Diamond Pyramid Hardness of single crystalline vanadium on the (100) plane but no anisotropic effects were noted on either the (110) or (111) planes. At the suggestion of R. G. wheeler5 it was decided to investigate this effect in greater detail using the more asymmetric Knoop indentor. The vanadium metal used in the study was prepared by the aluminothermic reduction of V2O5 followed by electron beam melting.6 The principal analyzed impurities were 230 ppm C, 230 ppm O, 65 ppm N, 90 pprn Al, Cr not detected, 50 ppm Fe, 60 ppm Ni, and 200 ppm Si. The chromium was an iodide-refined product obtained from the Chromalloy Corporation. Analysis of this material showed the following amounts of impurities present: 10 ppm C, 9 ppm O, 2 ppm N, 0.4 ppm H, 3 ppm Al, 2 ppm Ca, 2 ppm Cu, 20 ppm Fe, 1 ppm Mg, 0.3 ppm Mn, 1 ppm Mo, 3 ppm Ni, 10 ppm Si, and 1 ppm V. Single crystals of both metals about 1 cm in diam and 10 cm in length were grown by an arc-zone melt- ing technique.7 The chromium crystal was annealed at 1600°C for 6 hr in a purified argon atmosphere to remove any strains or inhomogeneities, but the vanadium was tested in the as-grown condition. The crystals were oriented by the Laue back-reflection method and then sectioned with a spark cutter into individual specimens with a (loo), (110), or (111) plane parallel to the crystal surface. They were mounted in Lucite and carefully ground to a flat surface. The vanadium specimens were then electropolished in a 6 pct perchloric acid-methanol mixture while the chromium specimens were mechanically polished on a Syntron vibratory polisher using an alumina abrasive. The orientation of each crystal was then rechecked by the back-reflection X-ray method. All of them were found to lie within 2 deg of the desired orientation with the exception of the (110)-Oriented chromium crystal which was within 4 deg. Microhardness impressions were taken at 10 deg intervals from the common (110) direction by rotating the crystal in the plane of the crystal surface. A Knoop indentor was used with a 400-g load on the vanadium crystals and an 800-g load on the chromium. The hardness values are averages of 6 impressions and standard deviations were calculated for each set of data. The values reported for the (111) plane of vanadium are based on from 10 to 15 measurements for each point. The microhardness results for vanadium and chromium are plotted as a function of the angular rotation of the long axis of a Knoop indentor from the (110)

Jan 1, 1970

By C. A. Hartinagel

During 1941, the total production of crude oil in New York state was 5,185,000 bbl. This represents a small increase over the average for the past five years. From 1921, when the annual production of the state amounted to only 988,000 bbl., there was a regular annual increase in production (excepting one or two years) until the 5,000,000-bbl. mark was reached in 1937, After more than 20 years of oil recovery by flooding methods, it was generally believed, until a few months ago, that the rate of production was nearly at its peak and within a few years the fields would experience a gradual decline as the thicker sands became exhausted and the thinner ones could be worked only at increasing costs. As a result of the present emergency, however, unusual efforts are being made, in spite of higher costs of operation, to increase the output of Pennsylvania grade oil, to which the New York product belongs. Since most of any increased production would be obtained by flooding, and since floods travel slowly, no large increase in production can be expected for some months to come. During the first year, 10 or 15 per cent increase could be obtained, but maximum production, an increase of perhaps 40 per cent, could not be expected until some time during the second or third year. In the Allegany fields, which account for two thirds of the state's oil production, 1246 wells, including water-intake wells, were drilled during the year; 390 more than in the preceding year and 590 more than in 1939. It is evident that much of the best oil territory has already been developed. As producers move toward edge properties and thinner sands, returns will be smaller, whereas costs remain the same or, under war conditions, become higher. It is estimated that at least 60 million barrels of oil is in sight and will be produced from the thicker sands by present recovery methods. In the thinner sands and edge properties, some 35 million additional barrels can be produced at a profit only if prices become higher. In view of the fact that there is little hope of finding new oil pools in New York, one of the future problems of the oil producer will be to obtain adequate returns for increased production costs. The year started with a posted price of $2.15 per barrel of crude. There were five successive price increases until the high of the year was reached at $2.98 on Aug. 14. Eight days later the Office of Price Administration directed that the price be reduced to the June level of $2.75 a barrel, which remained in effect to the end of the year. With rising costs of operation, it is feared that many of the smaller properties cannot continue production unless the Federal price cut is revoked. During the year, Allegany Refiners Inc., a local enterprise founded in 1933, with plant at Bolivar, western Allegany County, increased its refining capacity from 1000 to 1500 bbl. daily. At the same time equipment was added to make the plant a complete lubricating-oil refinery, including facilities for the refining of wax into the finished product. Previous to the enlargement, it was necessary to sell the wax

Jan 1, 1942

By R. A. Generes, H. C. H. Darley

Laboratory tests showed that at elevated temperatures a reaction takes place between all metal hydroxides and clay muds, which results in a thickening or solidifying of the mud, the extent of which depends on the nature of the ingredients. Calcium hydroxide gave the strongest solidification whereas barium hydroxide only caused a mild thickening, indicating that the use of barium hydroxide muds instead of lime muds would be a good way of preventing high-temperature solidification. It was found possible to prepare barium mud in the laboratory with caustic soda and a thinner in the same manner as lime muds, and these barium muds had the same or better toleration of high solids content, resistance to salt contamination, and low gel strengths as the corresponding lime muds. Three field trials have been made with barium mud. The principal difficulty encountered was in determining the correct proportions of the tourly treatments required to maintain low gel strengths. A satisfactory systern was finally developed, and low gels were maintained throughout the third test. The wells on which the trials were made were not carried deep enough to test the resistance to solidification adequately, but oven tests at 350°F were made periodically and no tendency to solidification was noted except immediately after severe cernent contamination had introduced excessive amounts of calcium into the system. Although barium hydroxide costs considerably more than lime, the total mud costs were as low, and on the last well significantly lower, than the average cost of lime mud wells drilled in the vicinity. INTRODUCTION The advantages of repressing dispersion and hydra-tion of clay cuttings carried in the mud, particularly when drilling through thick clay formations, are well recognized. This repression is generally achieved by the use of lime, and lime muds have in consequence the desirable characteristics of high toleration of solids, low thixotropy, and good resistance to contamination. They have, however, the disadvantage of high-temperature solidification. This phenomenon has been described in detail by Gray et al, who have shown that it is the result of a chemical reaction between the hydroxides and the clay minerals. The work described in this paper was undertaken to find a substitute for lime which would not cause this solidification. LABORATORY EXPERlMENTS The principal positive requirement for a substitute for lime is that it should repress the hydration and dispersion of clay. It is well known that monovalent cations promote hydration while polyvalent cations repress it. Therefore, a few representative polyvalent salts and hydroxides were tested to determine whether they could be used as substitutes for lime. Their efficiency at repressing hydration and dispersion was measured by means of the clay-volume test. It has been shown elsewhere' that this test is a good measure of degree of dispersion of clay in suspension and that hydration accompanies and correlates with dispersion, so that measuring one measures the other. The test is made by centrifuging a 1:100 mixture of mud and 1-N NaCl and observing the volume of sediment—the greater the volume, the greater the dispersion. The tendency to caux solidification was measured by heating the muds in pressure vessels for 16 hours at 150°F and 370°F. An approximate quantitative

Jan 1, 1957

By T. C. Russell

The Conda phosphate mine, eight miles north of Soda Springs in Caribou County, Idaho, was opened up by the Anaconda Copper Mining CO. in 1920. Except for brief periods, during the 20's and early 30's, the mine has maintained a continuous production, and 2,100,000 short tons of phosphate rock have been shipped to the company's phosphate fertilizer manufacturing plant at Anaconda, Mont., or to independent processing plants on the Pacific Coast; a small tonnage of the rock has been shipped to the Hawaiian Islands. The Phosphoria formation on the Conda property consists of two, commercial-grade phosphate beds separated by 147 ft of black to brownish colored phosphatic calcareous shales interbedded with softer mudstones, clays, and occasional narrow seams of oolitic phosphate. The main lower phosphate bed in the series averaging 7.1 ft in thickness, is called the "foot-wall bed," which lies coriformably on the Wells limestone formation, the 1atter often containing irregular bands of chert. The upper or " hanging-wall bed" of phosphate rock averaging 7.2 ft in thickness, is overlaid by thick quartzite beds, locally called the " Rex chert" member in the upper portion of the Phosphoria formation. (Fig 1.) There are two anticlines on the property with axis striking approximately parallel to the mountain range beneath which extensive development on phosphate rock has been conducted in the past, and is now in progress. The phosphate beds have been eroded to a large extent from the tops of these anticlines, leaving at least three well-pronounced outcrops of the phosphate beds exposed within the boundaries of the Anaconda Copper Mining Cornpany's properties. At present, mining operations in the Conda No. 3 mine are confined to the two phosphate beds along the east flank of the easternmost anticline, where the dips on the beds vary from 50° to 60° east, thereby affording favorable conditions for the sublevel mining system now in use. Mining operations formerly were confined to the footwall or lower oolitic phosphate bed because of its higher phosphate and vanadium contents (32 pct P²O5 and 0.29 pct V2 O 5); this bed averages 7.1 ft in thickness. The oolitic portions of the upper bed were of satisfactory grade, but the shale and clay partings (Fig 2) diluted the mined rock and could not he separated economically by selective mining or by sorting. Experiments in beneficiating this rock were carried on for a number of years. Recently, a simple washing process was adopted, which gave a satisfactory grade of concentrates and a high recovery of P² O5. In 1947 it was decided to expand Anaconda's production of treble superphosphate and phosphoric acid by approximately 90 pct. This rock will be obtained from the footwall and hanging-wall beds, and the rock from the hanging-wall bed will be benefici-ated at -Anaconda.l In order to take advantage of the previous development on the 500 secondary haulage level, short crosscuts will be driven at approximately 950 ft intervals from the existing lateral drifts through the hanging-wall shale beds. From the inner end of each crosscut, short lateral drifts will he driven in both directions, so that four working raises can he put up on the dip of the phosphate bed at proper intervals along each of the lateral drifts. The mining operation on the footwall bed at Conda

Jan 1, 1950

THE first session, on alloys, took place on Feb. 20, Mr. Hibbard presiding in Mr. Campbell's absence. The session covered papers on manganese, chrom-ium, and silicon-iron systems. The paper by Mr. Wohr-man was presented by title. This paper showed that manganese produced many of the effects generally at-tributed to carbon and indicated that our ideas on manganese-bearing carbon steels will have to be modi-fied. Mr. Krivobok discussed this paper at length, the gist of the discussion being that Mr. Wohrman had not taken sufficient precautions in carrying out some of his work, particularly as to the effect of silicon content. Mr. O'Neill's paper was also submitted by title and no discussion was presented. Mr. Kinzel showed an accu-rate determination of .the carbon-free chromium-iron loop obtained by means of a specially constructed tele-scopic dilatometer. The loop ends at 12.2 per cent chromium and the A-3 line at 900° is unaffected by chromium content. The A-4 line runs from 1400° to 900° at 12.2 per cent chromium as an oblique hyperbola. Mr. Armstrong noted that the brittleness in high chromium alloys is often attributed to the gamma trans-formation and, according to Mr. Kinzel's diagram, this was impossible, as the alloys contain a great deal more than 12 per cent chromium. Mr. Kinzel pointed out that the presence of carbon in the commercial alloys caused the elongation of the loop and made possible local austenite transformation. Mr. Styri discussed the relations of the coefficients of expansion as shown in Mr. Kinzel's diagram. Mr. Corson presented the iron-silicon diagram as he has worked it out, showing a pre-viously unknown intermetallic compound, Fe3Si, to-gether with characteristic martensitic microstructure varying with the heat treatment. This compound formation is the real cause of brittleness in certain re-gions of the iron silicon system. Dr. Hoyt believed some of the evidence presented by Mr. Corson to be in contradiction to the phase rule. Mr. Corson, however, explained that true equilibrium does not exist under the conditions at hand so that the diagram was accurate in spite of the discrepancies. The meetings of the subcommittee on the physical chemistry of steel making were interspersed through-out the day. Mr. Feild presided and a program of future activities was outlined. This includes plans for a symposium at the next annual meeting and methods for interesting physical chemists, particularly those in the universities, in the steel man's problems. This committee has been newly formed and bids fair to be especially active. The Iron and Steel Committee met at lunch at the Engineers' Club at noon, with Dr. Mathews presiding. After disposing of the food the report of the Nominat-ing Committee was called for, and the following were elected as officers for 1928: R. H. Sweetser, chairman; F. C. Langenberg and W. J. Priestley, vice-chairmen; and T. T. Read, secretary. The report of the commit-tee appointed at the last meeting to consider publica-tion and general policy for the committee was then called for and freely discussed, after which it was unanimously voted to instruct the new chairman to se-cure from the Board of Directors the necessary author-ization for the Committee to recognize as a Division. This action was reported to the Board at its meeting the following night and the authority granted.

Jan 3, 1928

By E. C. W. Perryman

On electropolishing, high-purity Cu-Sn and Cu-Sn-P alloys with more than 5 to 9 pct Sn were found to contain many grain boundaries with a ridge-and-furrow profile. The effect was not eliminated by solution treatment and was present at the new boundaries in recrystallized material. It could be produced by diffusing tin into the 3 pct Sn alloy and it is concluded that the effect is due to enrichment of certain boundaries in tin, or possibly in an impurity present in the tin, in solid solution. IN the hot working of tin bronzes, especially those with moderately high tin contents, considerable difficulty is frequently encountered from intercrystal-line weakness, which results in cracking at the edges in sheet on strip rolling and in the unsupported regions of the rod in rod rolling.' These difficulties are not at all pronounced with up to 3 pct Sn, but at 5 pct Sn impose serious limitations and at higher tin contents, especially if the phosphorus content is also high, they may become very severe. In some work carried out at the laboratories of The British Non-Ferrous Metals Research Association it was found that a notable lack of ductility in tension at elevated temperatures, associated with intercrystal-line failure, was characteristic of tin bronzes even of relatively high purity. That the intercrystalline fracture is not due to a brittle or molten impurity phase at the grain boundaries was shown by the fact that the temperature at which intercrystalline fracture first occurred decreased with decrease of rate of straining. Tensile tests on some commercial tin bronzes, reported by Goetzel,² show a similar fall in ductility with increasing temperature. As no visual evidence had been obtained showing that the grain boundaries of the tin bronzes were different from those in copper, a more detailed microscopical examination was carried out, and the results of this are given in the present report. Several workers"' have observed that electrolytic polishing is a powerful tool for detecting small amounts of a second phase and in particular for detecting high solute concentrations, "equilibrium segregation," at grain boundaries. Since it had been found that the suggested solutions for electropolishing bronze and the standard solutions for brass and copper did not give satisfactory results it was first necessary to find a suitable electropolishing solution.' Experimental Procedure Materials Used: The cast and wrought materials used for this work were the same as those used for the mechanical tests referred to above. They comprised 3, 6, and 9 pct Sn alloys without phosphorus and the same three basic alloys with 0.03 and 0.4 pct P. A 5 pct Sn alloy without phosphorus, of similar purity, was also examined. The basis materials were Chempur tin, high purity 15 pct phosphor-copper and cathode copper, and spectrographic analyses are given in Table I. Treatment: The cathode copper was first melted under charcoal, degassed by plunging marble chips beneath the surface, and cast through a coal gas flame into sand molds to produce a number of small ingots which after machining were of a suitable size for subsequent vacuum melting. Chill cast bars of the alloys, approximately 1¼ in. in diameter, were then made by melting and casting in vacuo, the tern-

Jan 1, 1954

By L. C. Armstrong

Twice in the past two years and in two widely separated localities—ane near Williamsville, Mo., and the other in the Allard Lake district of Quebec— the Contract Drilling Division of the Longyear Company has experienced perplexing difficulties in drilling granitoid igneous rocks. The rocks in both places are characterized by appreciable amounts of feldspar intimately inter-grown with quartz particles of microscopic dimensions. The disappointingly slow rate of advance and the exceptionally high bortz loss, obtaining during the life of these two projects, are ascribed largely to the resistance to abrasion of these two minerals when arranged in this intergrown pattern. Whether all intergrowth-bearing igneous rocks would offer extraordinary resistance to bit progress cannot be stated with assurance on the strength of these experiences alone. More data on diamond drilling this sort of material in a number of localities are needed before any generalizations can be made safely. It should be pointed out that the lack of time and funds made it impossible for the writer, or other persons interested in correlating the details of bit histories with the kinds of rocks drilled, to be present during the performance of the contracts. However, the records kept in the normal course of drilling are deemed complete enough to be reportworthy. This information is presented here together with the findings made in studies of the rocks involved, with the thought that it may attract the comments of others who may have encountered similar refractory drilling conditions. A pooling of knowledge on the problem would be of material aid in devising more efficient cutting tools and procedures for penetrating this kind of rock. Drilling Blastholes in the Williamsville Granite Due to the unsatisfactory perform- ance of pneumatic percussion drills in boring blastholes on a construction contract near Williamsville, Mo., tests were made with a diamond drill. The poor progress achieved and the excessive loss of diamonds, however, soon led to the abandonment of these trials. The diamonds, in all of the bits tried, lost their cutting edges and acquired a polish after being in service for distances ranging from a few inches to a few feet. Coring bits containing surface-set, whole-stone bortz in a tungsten powder matrix were employed. The cost assignable to bortz wear averaged $7.17 per foot. This item of expense is several times the amount normally expended in diamond drilling in firm, unfractured, granitic rocks. Diamond-impregnated, tungsten carbide bits also were used without success. The diamond wear was at the rate of $0.98 per foot, but the diamond chips became too polished for further duty in less than a foot of drilling. The Williamsville granite is pink and medium-grained. In the hand specimen, it has a fresh, sound appearance; it is seemingly composed almost entirely of interlocking grains of feldspar and quartz and has no discernible features suggesting a greater durability than is usually found in rocks with this composition and texture. Microscopic examination, however, reveals a predominance of feldspar grains with more or less regularly distributed and sharply angular masses of quartz (see Fig 1). The pattern assumed by the two minerals in this mode of occurrence is referred to as a "graphic intergrowth," as it bears some resemblance to the cuneiform characters of ancient Persian writing. The other principal constituents are quartz-free feldspars (microcline and orthoclase) and quartz. All of these constituents are in nearly equidimensional grains, ranging up to about 3 mm in length. There are also

Jan 1, 1950

By N. A. Gokcen, M. N. Dastur

In metallurgical process industries a knowledge of true melting and casting temperatures is very essential for increasing the operating efficiency as well as improving the quality of the finished product. Optical pyrometers are widely used for the purpose because of their cheapness and ease of operation. It is an unfortunate fact, however, that this mode of measuring temperature entails a source of severe error inasmuch as with all non-black bodies, the temperature observed is always below the true temperature owing to deficient emissive power. Hence, the need for emissivity correction arises. In 1913 Bidwell1 obtained emissivity values of 0.36-0.48 for a temperature range of 1520-1800°C. He measured the true temperature of molten iron by sighting into a carbon cavity immersed in the iron under an atmosphere of hydrogen. In 1914 Burgess2 determined the emissivity of a smooth surface of liquid iron free from oxide to be 0.37 under an atmosphere of hydrogen. He claimed to have attained an accuracy of within 5°C at 1500°C with an optical pyrometer using monochromatic light. He reported that no difference appeared to exist between the emissivities of pure iron and of steels containing considerable percentages of carbon, nickel or manganese; nor was there any appreciable variation of emissivity with temperature from 1530 to 1571°C. Wensel and Roeser3 found an elnissivity value of 0.4 for temperatures above 1375°C for cast iron. The average emissivity value for carbon steels reported by Leiber,4 odd,5 Hase6 and Umino7 range from 0.4 to 0.45. Knowles and Sarjant8 made an extensive study of emissivity of molten iron and steel over a wide range of workshop and laboratory conditions. Observations of true temperature were made with immersion thermocouples, and correlated with apparent temperatures indicated by optical pyrorneter readings taken on the pouring stream as it passed over the lip of the crucible. The emissivity of Armco iron was shown to be of the order of 0.4, rising slightly with increasing temperature. But for plain carbon steels containing up to 1.0 pct carbon the emissivity was shown to fall slightly with increasing temperatures. The results of their investigation are in agreement with those of Guthmann.9 Naeser,10 Spencer," Todd5 and Hase6 in regard to the relation between emissivity and temperature for plain carbon steels. However, Goller12 has found a rise of emissivity with increasing temperature for the same steels. Results of several investigations are given in Fig 1. Measurement of True and Apparent Temperatures The necessity for an accurate optical temperature scale for liquid iron in studies of gas-metal equilibria led to this investigation. Experimental measurements were carried out in the induction furnace used by Dastur and Chipman13 in their studies of the reaction of hydrogen with oxygen in liquid iron. The furnace as modified for this work is shown in Fig 2. The atmosphere of the furnace was a mixture of purified argon with hydrogen containing a small controlled amount of water vapor. Gases were preheated by means of a platinum-10 pct rhodium resistance coil. The stream of hydrogen sweeping across the surface of niolten iron vir-

Jan 1, 1950

By William P. Lohden

INTRODUCTION It is recognized that, for a variety of reasons, some companies in the mineral industry today are by no means cash-rich and, in fact, are reporting a growing proportion of long-term debt in their capital structures. A review of recent balance sheets of small, medium-size, and some larger companies, indicates that a fair number still have substantial positions in cash equivalents such as U.S. government issues and other short-term money market instruments. In part, this paper concerns itself with companies which have sufficient cash and equivalents and/or cash generation to internally finance mining projects or expansions but which, for some reason, choose to borrow funds. Misconceptions which appear to frequently underlie so-called "leveraging" decisions are explored in this paper. Also considered arc' those circumstances under which any company, including one that is cash rich, should consider borrowing for a project in an amount beyond what would otherwise be necessary based upon its internal financing ability. I do not attempt to cover the raising of equity capital in public markets in this paper. OVERALL RETURN ON INVESTABLE CASH If you approach an individual with an investment which can be financed from savings, or by borrowing at a rate higher than one is earning on savings, that individual will quickly tell you that to pay interest at a rate higher than is being earned on savings would reduce overall income. Assuming that additional investment opportunities are not currently being considered, the individual concludes that a draw-down on savings, leaving a cushion for contingencies suited to individual circumstances, is the correct financial decision. For reasons discussed later, the simple mathematical logic leading to this conclusion tends to become obscured at the corporate level. When Leveraged Studies Are Inappropriate or Premature Surprisingly, I have heard of a number of companies that could afford to finance an investment solely with internal funds, which have made DCFROR (i.e. discounted-cash-flow rate-of-return) studies not only on a 100% equity basis but also on a leveraged basis. Certainly, a leveraged study would be appropriate if additional projects were competing for more capital than was available internally. Often, however, other projects are not far enough along to warrant a leveraged study and there is some danger that a project may be undertaken because it has an estimated acceptable rate of return, on a leveraged basis, that is not ultimately earned because some of the other projects are postponed or abandoned and borrowing is less than expected. For the above reasons, until it has been determined that (1) borrowing is a reasonable certainty for a particular project and (2) the timing and amount to be borrowed has been determined within a reasonable range of accuracy, I believe it is inappropriate and misleading to calculate DCFROR for a project other than on a 100% equity basis. Even when there are several projects currently competing for funds and borrowing will be required to finance one or more of them, using the common yardstick of calculating DCFROR on a 100% equity basis is a safer method to initially evaluate and compare the attractiveness of the projects. Many companies, whether they would have to borrow or not, will reject projects that on a 100% equity basis do not meet their minimum rate of return standards. Some companies which have to borrow will undertake a project provided the project's DCFROR on a leveraged basis meets its minimum return standards. The danger of this approach is that even moderate shrinkages of estimated cash flows could plunge return below

Jan 1, 1985

By James A. Lewis

It is the purpose of this paper to show the importance of sand characteristics, when combined with other physical data, in evaluating production obtained by secondary recovery operations, and to indicate the benefits to be gained from the application of these principles to primary production. Introduction During the past 10 years there has been a growing interest within the industry regarding the movement of fluids through oil reservoirs. A number of research projects have been directed toward the development of the physical laws governing this movement. In the period 1933 to the present, correlations between laboratory analysis of cores, reservoir fluids and well performance have been established and have been applied to successful secondary water-flooding recovery operations; and to the completion, production, reconditioning and evaluation of wells in new fields. The application of these data to water-flooding, either natural or artificial, is comparatively new, but the principlcs involved were set forth in 1880 by John F. Carll,1 who said: The flooding of an oil district is generally viewed as a great calamity, yet it may be questioned whether a larger amount of oil cannot be drawn from the rocks in that way than by any other, for it is certain that all the oil can-not be drawn from the reservoir without admission of something to take its place. If one company owned all of the wells drawing upon a pool, and had accurate records of the depth and characteristics of the oil producing stratum in each well, it is quite possible that some system might be devised by which water could be let down through certain shafts, and thus the rocks be completely voided of oil and left full of water. As it is, however, no systematized plan of action can be adopted. The careless handling of one well. by which water is let down to the oil rock, may spoil several others belonging to different parties. A clashing of interests at once arises and is likely to result in disaster to the whole district. In judging of the probable effects of the intro-duction of water into any particular oil district several things are to be considered. (1st) The time of flooding—whether early in the progress of development, while yet a large percentage of oil remains unexhausted or at a later period after the supply has suffered from long continued depletion. (2nd) The structure of the rock—whether regular and homogeneous throughout, or composed of fine sand inter. bedding connected and irregular layers of gravel, sometimes lying near the top and at others near the bottom. (3rd) The shape of the area being flooded. (4th) The position of the point at which water is admitted. in relation to the location of the surrounding wells still pumping oil. (5th) The height (which governs the pressure) of the column of water obtaining admittance. (6th) The duration of the water supply. Although we may take exception to part of Carll's reasoning, particularly " and thus the rocks be completely voided of oil and left full of water," we must give him credit for pointing out the increased effectiveness of water encroachment in displacing oil from a sand and for his recording six of the present seven considerations necessary for evaluation of production of oil by water

Jan 1, 1942

By W. Philippoff, Donald E. Cadwell, S. R. B. Cooke

THE importance of contact angles in flotation has long been recognized, but little has been done to get quantitative relationships between the surface coverage of the mineral by the reagent, the length of the hydrocarbon chain, and the contact angle. It is well known that for a complete monolayer on the surface of a mineral the contact angle 8 is determined only by the reagent1 and principally by the chain length of the hydrocarbon radical. Although for flotation the monolayer usually is regarded as being complete, early experiments of Wark and Cox&apos; showed that at very small concentrations of potassium ethyl xanthate the contact angle on galena changed in a continuous way from 0&apos; to the equilibrium value of 60". Further, Gaudin and Vincenta showed a similar continuity using heptylic acid and sphalerite. This shows that with probably incomplete monolayers, 0 varies with the degree of surface coverage. At the time these experiments were made it was impossible to measure the actual amount of surface coverage, especially since the decrease of the collector concentration in the liquor could be influenced by chemical side reactions. Through the use of the radioactive tracer method for the measurement of the amount of collector adsorbed on the surface of the mineral, Gaudin and Bloecher&apos; were able to determine accurately the actual surface coverage of dodecylamine acetate on quartz, but they did not measure any contact angles. It is believed that the relationship between the surface coverage and the contact angle is extremely important in flotation, especially as Gaudin and Bloecher showed that a 95 pct recovery is possible with a coverage of only 5 pct. Theoretical Considerations The work of adhesion W is the energy bound (in ergs per sq cm) when an interface is formed. It is determined by the difference of the free surface energies (surface tensions) of the respective phases 7j and yZ before contact and the interfacial free surface energy y, after contact. The definition of the contact angle permits the elimination of the unknown surface energy of the solid and hence the calculation of W from the surface tension of the liquid y and the contact angle 8: W = y (1 + COS0) [1] Consider a surface consisting of two components, identified as 2 and 3, 1 being the liquid. The amount of 2 in the composite surface is x, where 0 < x < 1. The respective contact angles with 1 and air are 8, and 8.. The total work of adhesion of such a surface is the sum of the values of the components multiplied by their respective areas. A formal relation can be written: Wm = x-W2+ (l-x)-W, [2] in which W, is the work of adhesion of the composite surface. Eq 1 can be introduced into Wt and Wa, but in the case of W, some discussion is needed. If the two components are segregated, each component forming an integral part of the composite surface there is no physical meaning for a contact angle 8m calculated from W,, by using eq 1. If, on the other hand, the area of each patch of the components is small in comparison with, say, the diameter of the bubble used in measuring, it could be expected that 0m would have a physical significance, because of the action of the surface tension of the liquid-gas interface tending to smooth out sharp corners. How small these patches would have to be is difficult to predict, but by using composite surfaces with microscopically

Jan 1, 1953

By R. L. Manegold

This paper outlines the reasons for and the application of suspended magnets above belt conveyors for the purpose of removing tramp iron to protect equipment. The design of a magnet strong enough to extract iron through a distance of 24 in. is described along with the proper method of application in the field. Advantages of the suspended magnet in contrast to the conventional magnetic pulley are also discussed. IN RECENT years there has been a decided trend toward bringing ores and coal out of open-pit and underground mines by long, sloping single-stage belt conveyors. Because the high investment cost of haulage conveyors dictates maximum speed and full loading for economy, conveyor belts are running faster than ever before, with a greater burden on the belts. In addition, larger blocks of ore are being mined and conveyed. Rougher use of large mining equipment generates more tramp iron; mechanical loading rejects nothing. Therefore the extraction of tramp iron and other deleterious materials for the protection of haulage conveyors at transfer points, chutes, and idlers is becoming an increasingly difficult job. In our experience, the best method of protecting long haulage conveyor belts is to extract the tramp iron, at least the large tramp iron, ahead of the main haulage conveyor or series of conveyors. It is most practical to collect the tramp iron at the earliest source possible, usually directly after the primary car unloading dump or after the primary crushers, which are ordinarily not affected by tramp iron, see Fig. 1. The coal or ore from its primary source is fed by chutes or feeders onto a buffer or shock belt conveyor, a short, ruggedly built conveyor system that can be considered somewhat expendable. Its primary function is to bring the ore up to speed for transmission to the haulage conveyor. There is no assured method of protecting this conveyor from tramp iron damage at its feed end. Likewise, there is a possibility, although remote if the magnet applied to this belt is installed correctly, that the tramp iron extraction process will damage the shock belt, which is, however, short and comparatively inexpensive. Magnetic head pulleys with their maximum effective range of about 8 or 10 in. cannot be considered for large installations, even though they are desirable because of the continuous and automatic tramp iron removal feature. Further, the most dangerous form of tramp iron with respect to potential damage to a haulage conveyor is the long rod, roof bolt, or rail segment, which is not extracted satisfactorily because of the limited tangential contact of such an iron shape with the magnet. Magnetic head pulleys are also undesirable because the dribble or fines from the head pulley discharge at the same point as the tramp iron. Screens must be used to separate the fines from the magnetics, resulting in additional expense and loss of head room. Magnetic detectors have been used with success, but they only indicate the presence of iron, and the conveyor belt must be stopped for its manual removal. The stoppage of any conveyor means that all preceding equipment must be stopped or a cascade of material on the idle conveyor will result. Occasionally combinations of detectors and magnetic head pulleys are used. The detector precedes the magnetic head pulley and detects only large pieces of tramp iron, while the magnetic pulley subsequently takes out the smaller ferrous metals. Suspended magnets overcome the disadvantages of magnetic head pulleys, detectors or a combination of both. There are several magnetic extraction problems involved in applying a suspended magnet at this

Jan 1, 1953

By H. H. Rachford, D. S. Howard

In the withdrawal of fluids from tilted aquifers it is of value to be able to predict pressure patterns during the course of the pressure decline. As an example of this, in the displacement of fluids from oil reservoirs being produced by water-drive, prediction of the reservoir pressure is an important factor in fixing production rate. The prediction of pressure patterns in the depletion of an inclined aquifer has conventionally been made by solving the well known flow equations for the pressure Patterns in a horizontal aquifer, and correcting these patterm for the pressure difference due to the hydrostatic head associated with the vertical distance between a point in the horizontal aquifer and the corresponding point in the tilted aquifer. Inasmuch as the equation describing flow in tilted strata is different from that for horizontal flow. there was question as to the validity of the simple corrective procedure current1y in use. To examine the magnitude of error made using this procedure, an inclined aquifer was chosen for which the error was expected to he large, and the equation for flow in this tilted stratum was solved numerically. The results of the conventional procedure of correcting the solution of the equation for horizontal flow was compared with the solution of the correct equation by studying the difference between predicted pressures by the two methods. Three forms of the hydrostatic head correction were studied. The results for all three forms of the head correction are similar. The error in the approximate solution is quite dependent on the position of the horizontal aquifer with respect to the inclined one. The error is greatest at the producing end ad increases with amount of fluid withdrawn. The magnitude of the errors is not large if a good choice is made for the position of the horizontal datum. The most satisfactory position for the datum in all cases is near or slightly about the mid-point of the inclined stratum. Use of the best approximate method studied with the best datum tested yielded predicted pressures in error no greater than 7 psi. INTRODUCTION The movement of water by expansion from an aquifer to displace fluids from a contiguous oil reservoir was first recognized over 20 years ago.9 Since that time much work has been done to relate this mechanism to reservoir behavior mathematically. The result of this effort on the part of many workers has led to an understanding of underground fluid movement which has enabled us to follow and predict the behavior of the water-drive reservoir. One reason that good progress has been made in the application of mathematics to the study of pressure patterns and water movements in aquifers has been that the differential equation which describes this process is of a relatively simple form. The equation for the isothermal, horizontal, viscous flow of water through homogeneous sandstone is identical with that for the diffusion of heat through homogeneous solids, and this equation and means of obtaining solutions for it with many types of boundary conditions have been studied extensively. That this work has been highly successful is clearly emphasized by the large number of solutions developed for problems of interest both by methods of formal mathemat-

Jan 1, 1957

By D. R. Parrish, W. E. Lamoreaux, W. W. Owens

Several methods are now being used by the industry for determining the gas-oil flow characteristics of reservoir rock samples. Most of the laboratory experirnerltal rlzethods can be classified either as steady-state, unsteady-state, or Hassler-type tests. Although the validity of the results obtained by any specific method is not questiorzed, in general, the complexity of these methods leaves much to be desired. This investigation dealt primarily with the development of a simplified unsteady-state (gas drive) laboratory test method for measuring kg/ko re1ationships of small core samples. A procedure for selecting uniform and representative sandstone rock samples was developetl since it was observed that the reliability of the test resu1ts was dependent upon having a sample which was uniform in porosity and permeability. The importance of factors known to influence the results of this type test, such as oil viscosity, gas expansion, and pressure differential were eva/uated. The method of calculating the test results was found to give valid data over a wide range of gas expansion. The limits of pressure differential and oil viscosity which would insure reliable results were defined. In cornparisorz with other presently used testing methods, the gar drive method requires considerably less apparatus, is less time consuming, and is more readily adaptable to a routine type core test. INTRODUCTION The detcrmination of the gas-oil flow characteristics of reservoir rocks has been given concentrated study by the oil industry for the past decade. Both analytical and experimental methods have been considered. The analytical methods have generally relied on a simplified characterization of porous materials in order that the fundamental laws of fluid flow and capillarity could be utilized. More direct experimental methods have been proposed by numerous production research laboratories with the primary goal being a simple and inexpensive, yet reliable method for measuring the gas-oil flow characteristics of reservoir rock samples. The experimental methods which have been reported in the literature generally can be grouped into one of the following classifications: 1. Steady state1,2,3,4 in which a fixed ratio of flowing fluids is forced through the test sample until equilibrium conditions of saturation and pressure gradient are established. 2. Hassler or stationary liquid method5,6,7 in which a uniform liquid saturation is attained, usually through capillary desaturation, then gas or oil is flowed through the sample at a pressure drop insufficient to disturb the pre-established saturation. :. Non-steady state method1,8,9,10 In which only the gas phase is injected into the sample, causing displacement of the oil phase and resulting in a system of continually changing average saturation and saturation gradient. The steady-state and Hassler methods have been most popular because, no doubt, of the simplicity of the actual relative permeability calculations. The problems involved in these methods were limited to apparatus design and measurement techniques. In the steady-state method, for instance, a constant flowing fluid ratio is established which, at equilibrium, results in an essentially uniform saturation over the entire length of the test sample. Therefore, the basic flow characteristics could be obtained by correlating the average saturation of the test sample with the kg/ko determined at various flowing gas-oil ratios.

Jan 1, 1957

By J. L. Martin, W. M. Campbell

A new electric logging method, called displacement logging, often gives a direct indication of the presence of mobile hydrocarbons in hydrocarbon-bearing formations. This method is based on the detection of a bank of connate water which is formed between the invading mud filtrate and virgin formation fluids in these cases. The existence of this phenomenon has beer, verified by laboratory studies and by actual field logs taken in known oil sands. INTRODUCTION During the past decade increasing use has been made of conventional electric logs to determine the amount of oil or gas in formations traversed by a borehole. This determination requires knowledge of several factors, such as true resistivity of the formation, formation factor, and water resistivity. Sometimes all of the factors necessary to make a reliable saturation calculation are not available. Also, the computations and corrections which are necessary in such a study often require the services of an experienced log analyst. It has long been the desire of exploration people to have a logging device which will locate hydrocarbon-bearing formations directly without requiring complex interpretation methods. The displacement log, while not completely fulfilling this desire, appears to be a Step in that direction. Basis for the Device The basis for this device stems from a phenomenon which occurs when mud filtrate invades a formation which contains displaceable hydrocarbons. As the mud filtrate invades the formation, most of the oil or gas is pushed out of the invaded zone, leaving residual oil. However, in addition to displacing most of the oil or gas, the connate water is also swept out, since the originally irreducible water is mobile in the presence of a water phase.1,2,3 Tonsequently, this irreducible water piles up as a bank between the virgin oil zone and the invading filtrate. If the mud filtrate is of higher resistivity than the formation water— as is commonly the case—the resulting annular zone, containing the bank of formation water, will be of lower resistivity than either the virgin oil-bearing formation resistivity or the invaded zone resistivity. This resistivity configuration, going from high to low to high again as the distance from the borehole increases, is found only in those zones which contain displaceable hydrocarbons. A device which would reliably detect this low resistivity zone would give a direct indication of mobile hydrocarbons. Illustrations This phenomenon is illustrated in Fig. 1 and 2. Fig. 1 shows a sketch of a zone containing salty connate water plus displaceable hydrocarbons, along with graphs showing fluid content and electrical resistivity vs distance from the borehole, before invasion occurs. Fig. 2 shows this zone, together with fluid content and resistivity graphs. after invasion by a fresh water mud. The resistivity pattern on moving away from the borehole is high: low: high. The absence of the low zone phenomenon in water zones is illustrated in Fig. 3 and 4. Fig. 3 shows a sketch of a zone containing salty formation water and residual oil, along with graphs showing fluid content and electrical resistivity vs distance from the borehole, before invasion occurs. Fig. 4 shows this water zone, together with fluid content and resistivity graphs, after invasion bv a fresh water mud. In this case the resistivity pattern on moving away from the borehole is high: low since there is no change in water saturation at the head ol

Jan 1, 1956

By F. R. Brotzen, A. R. Troiano, E. L. Harmon

Precipitation processes leading to drastic property changes are a frequent occurrence in titanium alloys containing large amounts of the retained high temperature P phase. In order to establish the kinetics and nature of these precipitation processes, a series of Ti-V alloys was studied. Time-temperature-transformation diqgrams were obtained for 12.5 and 15 pct V-Ti alloys. These diagrams consisted of two intersecting C-shaped curves: one in the high temperature region for the euilibrium transformation P +u+P, and another at lower temperatures depicting the formation of the meta-stable transition phase, o. Presence of the transition phase retarded the precipitation of the equilibrium a phase. Deformation of retained P resulted in the formation of the o phase. Reversion and retrogression phenomena of the transition phase were observed. A negative temperature coefficient of resistance was found in quenched alloys containing from 15 to 20 pct V. CERTAIN titanium-base alloys can be heat treated to produce appreciable changes in properties. For example, remarkably high hardness values may be obtained by aging or isothermal quenching treatments. Most of the information available to date on the hardening of titanium-base alloys has been systematized recently in an article by L. D. Jaffe.&apos; It was pointed out by that author that the hardening was the result of the decomposition of the retained j3 phase to the equilibrium constituents, a and p, and that this decomposition had many of the characteristics of an age-hardening reaction. Recent work by Frost et al.&apos; 3 has contributed much to the fundamental understanding of the hardening mechanism in titanium-base systems. These authors established the presence of a transition phase in the transformation from j3 to a + j3, which they designated o. The transition phase, in their opinion, was at least partially responsible for the hardening and embrittling effects which accompanied low temperature aging. The present investigation of the mechanism and kinetics of the hardening reaction was carried out for the Ti-V system. Ti-V alloys were ideally suited for a study of the decomposition of j3, since age hardening was known to occur readily in this system." Moreover, no intermetallic compounds occur in this system, Fig. 1, thus simplifying the interpretation of the results. Material and Procedure Alloys containing 12.5 and 15 pct V were prepared by Battelle Memorial Institute from iodide titanium furnished by Watertown Arsenal and vanadium of 99.8 pct purity. Ingots of 8 Ib each were prepared by arc melting in an inert atmosphere with a tungsten electrode and water-cooled copper crucible. Each of the ingots was melted once, forged at 1600°, and rolled at 1400°F. Following this, the ingots were remelted, forged, and then rolled to % in. sq bars, which were subsequently grit blasted, pickled, and wire brushed. Another set of alloys containing nominally 17.5 and 20 pct V was produced by the Research Div., New York University. These alloys were arc melted in an inert atmosphere in lots of 20 g each. Heat-Treating Procedure: Whenever feasible, specimens were heat treated in high vacuum resistance furnaces at pressures below 5x10." mm of Hg. Aging and isothermal quenching treatments were generally carried out in salt baths. Specimens were not attacked by the salt, provided the tempera-

Jan 1, 1956

By Olaf N. Rove

YEAR 1951 has been bright for the mining geologist. He has arrived after struggling for a generation or two to sell his wares through service to the operator, the mine superintendent, and the manager. But as he establishes himself on the operating front, he is faced with even greater challenges; namely, the development of basic geologic principles governing ore-forming processes and the occurrence and distribution of mineral deposits. These principles are needed to guide his ever-widening search into new areas. He must now stimulate the interest, confidence, and imagination of the mining executive and layman in fostering the research essential to expand rapidly the basic science of geology and its more specific applications to the mining industry. The hallowed time-tested tools of the prospector and the industry are no longer adequate. New basic data, principles, and ideas are needed to guide industry&apos;s exploration. The entry of Government into exploration, by lending money to prospectors and operating companies to partly finance exploration, is one of the major events of the year. This was one of the activities for which the Defense Minerals Administration was established in the Department of the Interior. DMA was staffed largely with men from industry, but the Bureau of Mines and the Geological Survey have acted as its technical advisors and have provided its field staff. Since the start of this work in May 1951 to November 19, 1951, the DMA has approved 208 exploration projects while denying 318 others. The contracts involve about eleven million dollars worth of exploration, of which Government&apos;s share is about sixty percent. A few contractors have already made discoveries and are into production to repay their loans; others have completed their projects without making a discovery. In November, the DMA was split into two successor units. The Defense Minerals Exploration Administration was set up in the Interior Department to carry out the exploration program. The Defense Materials Procurement Agency was organized as a separate agency to carry out the other functions of the former DMA, as well as general strategic materials procurement. The strategic materials group of the Economic Cooperation Administration was transferred to DMPA in order to centralize the procurement from foreign sources into one agency, although the authority and scope of activities of this group have not been announced as of the middle of December. The DMA-DMEA-DMPA programs are making large demands upon the technical manpower of the Geological Survey and Bureau of Mines. It is still too early to evaluate with confidence the productiveness of this diversion so far as the immediate and long-range effects are concerned. Many of the individuals associated with these programs, as well as others in the industry, are convinced that from a long-range national viewpoint, the regular programs of both the Survey and the Bureau equal or even exceed in importance the current emergency mineral activities of these two agencies. Uranium Uranium continued to be the glamour-girl metal of the mineral industry, and at the request of the Atomic Energy Commission uranium and thorium were included in the DMA exploration program. Industry&apos;s intensive prospecting and mining activities in 1950 were further expanded early in 1951 when the Atomic Energy Commission announced an increased price schedule and a new bonus payment

Jan 1, 1952