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By A. F. Meger

REPRESENTED here are the ideas and varied experiences of many people in the Hanna Coal Co. who have helped develop, over a number of years, an efficient and flexible method for spraying con- trolled amounts of oil on coal. Since the George- town preparation plant began operations early in 1951, oil treatment of coal has received special attention. It is believed that oil treating will satisfy present customers and also attract new markets. The first step in developing the new method of oil spraying was the construction of a dust cabinet for testing 50-lb samples of treated coal with the available oil sprays on the market. Tests results were tabulated for both indoor and outdoor storage.

Jan 7, 1954

By H. C. George

IN 1901, the United States produced 69 million barrels of crude oil, which was 41.4 per cent of the world production. By 1931, these figures were 850 million barrels and 62.1 per cent respectively, showing over this period of thirty years an increase in the world production of 718 per cent. Over this same period, the increase in the demand for technically trained men in the industry was much greater than the increase in crude-oil production. This was because much of the increase in production was secured by the application of geology and physics to the finding of new oil fields and by .the development of engineering methods and equipment incident to drilling and producing from much greater .depths.

Jan 1, 1934

By Theodore J. Hoover

WHAT are the chief branches of the mining engineering profession today? In an effort to analyze the structure of the profession, for practical purposes, a quantitative study has been made of the membership of the A.I.M.E., and is herein reported for the first time. In spite of the effect that a long history and a relatively small group of professional workers have had in limiting specialization in mining engineering, there has nevertheless grown up a wide variety of specialties in this field. More than a hundred different kinds of engineers were discovered among the titles given by Institute members in the Directory, ranging from "advisory engineer" and "American engineer" down to "wire-rope engineer" and "works engineer." How should all these titles be defined and interpreted? How many of them should be relegated as meaningless or confusing? What are the relationships among the remaining useful designations? Should some of them be grouped as "metallurgical" or "chemical," or under some other head?

Jan 1, 1935

By AIME AIME

BEGINNING Thursday, July 16, the National Broadcasting Co. is broadcasting from 6:30 to 6:45 p.m., over its nationwide network and possibly also by short wave a series of eleven radio programs dealing with the contributions of engineers to the prosecution of the war. The series is being arranged and sponsored by a committee of representatives of the national engineering societies, R. L. Sackett, chairman. The committee began its deliberations before Pearl Harbor and had scripts under way on blackouts, bombs, and damage to structures. The declaration of war emphasized the importance of the proposed radio program. The National Broadcasting Co. and the Office of Civilian Defense enthusiastically endorsed the committee's proposal and have been generous in their help and approval of scripts so far submitted. Controversial matters are included in the broadcasts and changes will be made when requested by O.C.D. up to the minute that a program goes on the air. In this way the latest and authoritative information will be given.

Jan 1, 1942

By Philip D. Shelton

INTRODUCTION Traditional design of support for permanent underground mine excavations place great emphasis on the magnitude of the maximum radial load which a specific support or lining must sustain. However, this depends upon so many factors that reliable prediction in advance of excavation is very difficult except in strong-self supporting ground. Some of the factors affecting the loads acting on a support are illustrated in Table 1. [ ]

Jan 1, 1984

By Glenn Keep

THIS paper is not an announcement of the successful conclusion of the Cerro de Pasco Copper Corporation's pacos-pyrite problems, but merely a description of the commercial-scale, intermittent-roasting operations conducted by the writer, J. H. Lucas and others of the staff. It was prepared by request, for presentation at the February meeting of the Institute. The results obtained in Peru confirm the 1-ton-a-day experiments completed about three years ago at Kearny, N. J. by C. C. Gordon and Mr. Lucas, where it was first demonstrated that a mixture of about 80 per cent. pacos ore with 10 per cent. pyrite ore and 10 per cent. salt could be roasted intermittently in a small 1-ton-a-day Holt-Dern furnace without extraneous fuel, producing porous calcine that could be leached rapidly. Mr. Keep and his staff, by successfully introducing improvements in the construction of the commercial furnace and in their handling of material, have established beyond doubt a low cost for roasting. The other steps in the process of treating pacos and pyrite ores have not as yet been demonstrated as sufficiently conclusive to warrant their acceptance for a permanent plant.

Jan 1, 1929

By Rodolfo V. de la Cruz

The in situ deformability of rock masses is determined by relating the applied load to the radial displacements of points on the borehole wall that are outside of the loaded surfaces. The external displacement method includes the steps in which: a) radial displacement sensors are installed to measure the change in length of a diameter of a borehole; b) unidirectional self- equilibrating pair of forces perpendicular to the direction of radial displacement measurements are applied on opposite sectors of the borehole wall, and; c) using elastic theory, the in-situ deformability of the rock mass can be related with the applied loads and measured radial displacements. The displacements outside the loaded surfaces are comparatively smaller in magnitude than displacements inside the loaded surfaces. These displacements, however, are sufficiently large and can be measured precisely by commercially available linear displacement sensors. Loads are applied by a conventional borehole jack. Existing methods for measuring the in situ deformability of rock masses yields unreliable results due to complex boundary stresses, small and varying contact areas, and the existence of fractures. It was shown that in the external displacement method, the effect of boundary pressure distribution and contact area are negligible. Also, since the displacements measured in the external displacement method were due to materials that are deeper inside the rock mass, borehole fractures have less influence on the calculated deformation modulus.

Jan 1, 1982

By Waldemar Lindgren

CONTENTS. [ ] I.-CHARACTER OF THE DEPOSITS. 1. Principal Features. IN many schemes of classification and description the term contact-deposit has been somewhat loosely applied to all accumulations of useful minerals (other than those of unquestioned sedimentary origin) which are enclosed between two different rocks. As thus used, the term may include deposits of widely differing origin, and, unless qualified, is not in place in a genetic classification. The present paper deals with a special class of contact-deposits. In many geological provinces, granular igneous rocks, such as granite, diorite and syenite, have broken through and invaded sedimentary rocks. The molten magma may in part have reached the surface and there solidified with relative rapidity as a lava. The largest masses of it, however, did not reach the surface, but cooled very slowly at considerable depth under great pressure, and eventually consolidated into a rock of granitic texture. Uplifts and extensive erosion may have followed; and at the present day, in many places, thousands of feet of material have been removed, bringing to the surface the intrusive granular rocks and their once deep-seated contacts with the sedimentaries which they shattered at the time of in-

Jan 1, 1902

By C. W. EICHRODT

NUMEROUS requests for the suspension of publicity make difficult the preparation of the annual review of copper metallurgy for 1934. In the United States, sales allocations indirectly have set restrictions on the scope of activities of producers and refiners, and necessitated closer cooperation between secondary and primary producers. However, the feeling exists that preparations for a return of intense competition should not he neglected, and careful investigations are being conducted for ways and means of improving industrial positions and production methods. In all probability, efficiency in technique and equipment will prove of far greater importance in the near future than production capacity, and many important developments in copper metallurgy later will be found to have been born during the current year.

Jan 1, 1935

By W. H. Meyer

During the seventeen years Fairchild has been making aerial surveys and aerial photographic equipment many changes and improvements have been made in the equipment and in the technique of using it. Aerial photographic operations have been developed from the crude methods and apparatus of wartime to a science upon which exact engineering calculations can be based. In the early days there was no airplane specially designed to meet aerial photographic requirements. One type of camera was used in all types of operations. Projects were made to conform to the products we could make and deliver. Obviously this entailed definite limitations. We now have airplanes designed specially for aerial photographic operations in accordance with the conditions encountered in actual service experience. We have cameras for every photographic purpose and our laboratory technique and equipment have been developed to the point where it is possible to make contour maps from vertical aerial photographs with contour intervals as close as five feet. Therefore, the selection of equipment now can be made in accordance with the time at our disposal, the justifiable cost, the scale desired, and the general requirements of the client. This does not mean, however, that arbitrary deliveries can be set for aerial photographic products. The factors in each project vary and each job must be considered in accordance with the factors involved. This accounts for the fact that products of aerial surveys may readily vary from $1.25 to $200 a square mile. Sherman M. Fairchild became interested in the design of a radically different aerial camera during the war. At its close he was about ready to demonstrate his design to the War Department. By 1920, he was able to bring out his first completed model. It had a number of radical features, one of which was the first dependable high-speed between-the-lens shutter, which makes for accuracy in aerial photographic work. Another feature was the use of metal throughout, eliminating the wooden parts that had been employed in wartime cameras. Another feature was the interchangeability of parts.

Jan 1, 1937

By J. F. Shirley, H. K. Burke

In January, 1964, three years of laboratory and pilot plant test work reached its culmination. The San Manuel Div. of the Magma Copper Co. switched its molybdenite extraction circuit from the sodium hypochlorite-ferrocyanide process to the new process described in this paper. The San Manuel Div. Concentrator of the Magma Copper Co. is located near San Manuel, Ariz., approximately 45 miles northeast of Tucson. The concentrator treats approximately 35,000 tons of ore per day containing about 0.85% copper and 0.025% molybdenite. The San Manuel ore body is a disseminated copper deposit in quartz monzonite and quartz monzonite porphyry. The primary copper mineral is chalcopyrite; minor amounts of chalcocite, bornite and covellite are also present in varying degrees. Pyrite makes up somewhat more than half the sulfide content of the rock. The molybdenite is nearly always found on fracture faces or associated with quartz veinlets.' On January 9, 1964, the sodium hypochlorite-ferrocyanide process that had been used for molybdenite recovery was replaced by the following process: 1) A conditioning step with hydrogen peroxide, sulfuric acid, sodium cyanide and zinc sulfate. 2) A two stage rougher flotation step with stove oil and sodium ferrocyanide. 3) One cleaning step with sodium ferrocyanide. 4) One cleaning step with sodium hypochlorite and potassium ferricyanide. 5) Four cleaning steps with an anti-foam Exfoam 636 and potassium ferricyanide. COPPER CONCENTRATOR Since molybdenite recovery is closely allied with previous steps in the operation, the copper concentrator will be briefly described first. The ore is ground to approximately 5% plus 65-mesh and 65% minus 200-mesh in a two-step grinding circuit consisting of rod mills in open circuit and ball mills in closed circuit with rake classifiers. A straight forward rougher circuit producing only one concentrate is used. The rougher concentrate is combined with the discharge from the regrind ball mills and is then cycloned, with the overflow going directly to the cleaner circuit and the underflow going to the regrind mills. The feed to the cleaner circuit is approximately 90% to 94% minus 325 mesh. The cleaner circuit consists of two stages in which the tailing from the final cleaner stage is returned to the primary cleaner and the primary cleaner tailing is returned to the rod mill discharge at the head of the circuit. Approximately 0.013 lb of the allyl ester of amyl xanthate (S-3302) per ton of ore is added to the rod mills and approximately 0.006 lb of sodium isopropyl xanthate (2-11) per ton of ore is stage added down the rougher banks. The frother used is methyl iso-butyl carbinol (MIBC) and it is added at various points in the grinding and the rougher flotation circuits. Lime is added to the ball mills and/or to the rod mills to maintain the desired pH in the rougher flotation. The rougher flotation has been operated at various pH levels between 10.5 and 11.5. Fuel oil is added in the regrind mills at a loading of approximately 0.01 lb per ton of ore. Factors Which Directly Affect Molybdenite Recovery: It has been found at San Manuel that, to obtain maximum molybdenite recovery, an oily type flotation collector must be added in the grinding circuit. When molybdenite is crystallized in the characteristic platy form, which appears to be the case almost all of the time at San Manuel, its surface has a greater tendency to adhere to oils than water. 2 Of the several oily type collectors available on the market, the allyl ester of amyl xanthate seems to be the best molybdenite promoter. The floatability of San Manuel's molybdenite does not appear to be affected, at least up to a pH of 11.5, by lime. It has been reported that at several plant operations high lime alkaline circuits have adversely affected the molybdenite recovery.3,4 It has been found through microscopic studies that the bulk of the chalcopyrite will float before the molybdenite in both the rougher and cleaner circuits. It is necessary to add fuel oil to the regrind mills to enhance the

Jan 1, 1965

By AIME AIME

T HE Board of Directors of the A. I. M. E. held a meeting at Institute headquarters on Jan. 28, 1921. There were present 10 directors and 14 guests, the secretary and the assistant secretary. The following actions of the Executive and Finance Committees were approved: Wilkes-Barre Meeting, Sept. 12 to 17, 1921; authorization of Oregon Section; authorization of Upper Peninsula Section; appointment of Philip W. Henry and Thomas H. Leggett on special committee on Code of Ethics; and presentation of five copies of Raymond Memorial Volume to T. A. Rickard, who edited it. The By-Laws of the Ohio Section were approved. The resolutions in reference to the payment of certain contributions and assessments to the Library Board of the United Engineering Societies, adopted by the Board of Directors on June 27, 1919, were rescinded, and the resolution adopted that the income of the James Douglas Trust of $100,000 be paid over to the Library or otherwise applied by it for the purpose of maintaining the Scientific Library of this Institute in such manner as may be deemed advisable in furtherance of the purposes of such trust, and that said income shall be paid on account of and included in. the assessment levied by the United Engineering Societies on the Institute for the maintenance of the joint libraries of the Founder Societies.

Jan 1, 1921

By W. H. Blauvelt

THE subject of fuel-briquetting has attracted much attention on the part of engineers and investors for the past 15 or 20 years, and especially in recent years, during which a number of plants have been built, with more or less commercial and technical success. Our technical literature contains numerous descriptions of certain processes, and discussions of the industry in general. For a history of the development of the art in the United States, and for descriptions of many of the processes which have been tried, reference may be made to the files of our Transactions, and, for more recent information, to a paper by C. T. Malcolmson, read before the First Annual Convention of the International Railway Fuel Association in June, 1909. The purpose of the present paper is to describe the briquette-plant of the Solvay Process Co. and the Semet-Solvay Co. at Detroit, Mich., which, after a period of long and costly evolution, is now operating satisfactorily on a commercial basis. I believe that it will be of interest to some of our members to have the details of operation, lower-consumption, labor, etc., as worked out on a practical and commercial scale in a going operation. The briquette industry has had a somewhat checkered career in the United States, and much the larger portion of the failures has been due entirely to commercial causes. It seems axiomatic to say that before undertaking the installation of a plant for manufacturing briquettes it is necessary that the local situation should be carefully examined : First, to determine the kind of briquettes, if any, the local market will consume; that is-to say, whether the available fuel-supply is such that briquettes would be a welcome addition, and whether the most promising field is the industrial or the domestic market. Second, if there is an available supply of raw material, as coal,

Mar 1, 1910

By Leonard Austin

WHAT Colonel Dwight says regarding the treat-ment of oxidized ores1 holds true also of the silver-lead smelting operations in Utah. The ore sought for was such as would, with appropriate fluxes, yield slag, and "lead bullion," as the lead reduced from the ore and carrying its gold and silver, was called. No matte, and probably little or no speiss, was yielded, and hence there was nothing to roast, either of ore or matte. But, by 1880, when I first took hold in smelting, there was quite a production of matte at the works of the Ger-mania Smelting and Refining Co., Utah, because, by that time, ores containing some pyrite and galena were being smelted. This was due, as at the Grant Works, Denver, to the more attractive price paid for the treatment of such ores. The matte, containing about 5 per cent. copper, was accordingly heap-roasted and returned to the blast furnace for the recovery of its contained metals. By this time there had been built a long-bedded, hand-rabbled reverber-atory roaster with a hearth of about 40 by 10 ft. in size, and in this matte and ore, crushed at the sampling mill, was treated. When, in 1892, I took control of this works, called& now the Germania Lead Works, three other roasters had been added, but the prac-tice of heap-roasting continued. This had the merit of needing no equipment, and of doing good work, because the pieces that were imperfectly roasted went back upon the next roast heap. At this time, when some suitable lump ore was obtainable, I roasted in heaps, in a satisfactory way. By 1892, the Bruckner cylinder roaster had been installed, which, compared with the reverberatory roaster, reduced labor. As such a cylinder revolves, a talus of ore is formed within it and at the same time fresh surfaces are exposed to the air, but the trouble was that the air did not reach to the bottom of the cylinder. This we corrected by placing a steam jet at the fire-box end, to project the air down-ward upon this stagnant ore, thus increasing the speed and completeness of roasting without at the same time increasing dust formation. The firing, if skilfully done, gave a somewhat sintered product, but with certain ores a slight access of heat over the normal would cause accretions to form within the cylinder near the fire end. These could be cut off by running back the fire box and barring off the crusts. It was in 1895 that the Bruckner cylinders at the Arkansas Valley plant, Leadville, were giving unsatis-factory service and I was called in to investigate. The steam jet was put in use as at the Germania Lead Works, but we found that, due to the altitude (10,500 ft.), combustion was feebler than at sea level or even at 4000 to 5000 ft. Later it appears, as Colonel Dwight states, that R. D. Rhodes and Mots sought to increase the air supply by admission through perforated tiles, but the trouble was due to the air itself.

Jan 8, 1922

By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco's development of the Weipa bauxite deposits in Northern Queensland in the late 1950's, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960's, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA's interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt's is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor's balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor's activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER'S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By H. A. J. Wilkens, H. B. C. Nitze

From time to time papers treating of specific cases of Southern gold-mines and mining have appeared in the Transactions of this Institute, as well as in other journals and publications. Mr. George I?. Becker, of the United States Geological Survey, made a reconnaissance of the Southern Appalachian gold-belt during the fall of 1894; the results of his investigations are published under the title of "A Reconnoissance of the GoldFields of the Southern Appalachians," in the Sixteenth Annual Report of the Director of the United States Geological Survey, 1894-95 : Part III., " Mineral Resources of the United States." Mr. Becker has treated the subject mainly in a scientific geological manner. We present this paper to the members of the Institute as requested by the Secretary last May, with the object of covering the ground from a more practical and technical standpoint. The notes for this paper were made in a large measure from personal observations, gained chiefly during the past summer on a trip through the field. In connection with this trip we collected a suite of typical hand-specimens, representing the gold-ores and wall-rock from the more important localities. This collection forms a part of the exhibit

Jan 1, 1896

By C. D. Ramsden

DURING the war years of 1941 to 1945, maintenance of mine locomotives and other mine equipment took the form of rebuilding rather than of renewing. Pur¬chase of new parts became increasingly difficult and mine operators found it necessary to maintain equipment by sal¬vaging old parts. Mine-locomotive wheels, although not representing a high cost per pound of material, contain a con¬siderable amount of steel and without rebuilding would have to be scrapped long before even a moderate percentage of the steel in the wheel is actually consumed. Many mine operators have been re¬building locomotive wheels for several years with automatic open arc-welding equipment. In 1927, the Pittsburgh Coal Co. started such a program, using a single Westinghouse automatic welding head. Since that time, many refinements have been added, until in 1944 the setup was operating very efficiently. A desire to increase wheel life and to hold down rising costs led the company in 1944 to investigate the possibilities of the under¬flux arc-welding process for wheel rebuild¬ing, although at that time, little or no work had been done on multiple pass or "build-up" welding with the underflux arc. Work with this process had been confined largely to welding together flat plates in a "down hand" position. Possibilities for savings were intensified by the fact that the company has 300 locomotives in operation, using actively or as spares 1200 sets of wheels. During 1942 and 1943, about 500 sets of wheels were sent each year to the company's maintenance shop at Library, Pa., for rebuilding. Based on having 800 sets in service (many of the company's heavy locomotives have three- sets of trucks), the average life of a set of wheels was approximately 19 months. Anything that could be done to increase wheel life promised sizable annual savings. OPEN ARC WELDING With the open arc process, a set of wheels could be rebuilt for about 40 pct of the cost of new wheels. Underflux arc welding gave promise of greatly increased welding speeds, more homogeneous, dense deposits and the chance for use of a wider range in welding-wire compositions. Against this was ranged the higher cost of materials and the cost of developing the process from the theory to a practical reality. Since 1927, when a single open arc head was placed in operation, fixed welding procedures had been gradually developed, a positioner for handling a set of wheels was built, and a second head was placed in operation in order to weld two wheels simultaneously. The fixture, or posi¬tioner, which was built to position and turn the wheels under the two welding heads, included a motor drive, controlled by a rheostat, which rotated the wheels through a double set of speed reducers and a removable jaw coupling attached to one end of the axle of the wheel truck.

Jan 1, 1946

By John B. Hastings

THE origin of the watery vapors of vulcanism has always been an object of interest and speculation to the seismologist, and as theories of the genetic origin of ore-deposits have of late years been pretty well narrowed down to the expiring forces of plutonic action, the same question has had a lively interest for mining engineers and geologists, as is well shown by the discussions of the subject in our Transactions. The important part taken by volcanic emanations in the origin of pegmatites and quartz-veins, described in my paper, Origin of Pegmatite,1 and their latent power to concentrate into useful deposits such scattered gold as occurs in the Hartsel granite, make a discussion of their derivation but a natural third and final step. It is conceded that enormous amounts of vapor accompany volcanism, though perhaps we are apt to forget that steam has 1,700 times the volume of water, besides which the column seen over Vesuvius and other volcanoes is greatly mixed with air; the immensity of such volumes compared with solids and liquids is shown by the experiment of Gautier, who, by heating dessicated granite to 100° C., evolved from it uses 20 times, and steam 90 times, its own volume. Dana appraised the average amount of water left in ordinary rocks as 2.5 per cent. T. M. Read estimated that the Mississippi river carries to the sea annually 150,000,000 tons of rock material. If these Mississippi sediments, as deposited, contained 20 per cent. of water, it would be 600,000,000 cu. ft., or 4,500,000,000 American gallons, annually. Allowing the vapor suspended over a volcanic cone to be mixed with 80 per cent. of air, this amount of water converted into steam would replenish anew, every 9 min., a column 15,000 ft. high, 2,000 ft. in diameter at the base, and 10,000 ft. at the top. Read's estimate is only half of the amount given in a more recent and probably correct one .2

Jan 5, 1908

By D. L. Blakeman, Trimble. J. W., S. W. Banning

Noranda's Grey Eagle mine and mill, in the Siskiyou Mountains of northern California, began shakedown operations in the late fall and early winter of 1982. This paper describes some of the unique features in mineralogy, milling, and water treatment operation at Grey Eagle. In addition, major start-up problems in the mill and water treatment plant are discussed along with measures taken to correct these problems.

Jan 1, 1986

By A. Bruce Matthews

Of the many opportunities in the mining industry to invest funds to improve operations, there is always some limit in every company as to how much can be spent each year for the acquisition of capital assets. Generally, there are many more opportunities for investment than funds to make the investments. As such, one of management's goals is to select the most profitable of all the opportunities available. Each opportunity must be carefully analyzed for its potential percentage rate of return. This percentage return or return on investment concept is an accepted financial yardstick of business profit- ability. For today's mining engineers, this problem resolves itself in the job of determining how to in- vest most productively the cash that is flowing from their operations so that it will multiply in value. There are four basic types of capital investments: Strategic investments, such as selecting a plant site, are those that affect virtually all long-run plans of a company. Change in a company's product line and expansion of company facilities are two other types of capital investments.

Jan 3, 1963