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By Michael A. Gustafson, Fernando B. Sotelino

INTRODUCTION The degree of success of any new project will ultimately depend on two factors: (i) the underlying economic strength of the project; and (ii) how successfully the parties involved can coordinate their interests to establish a financing structure which indeed capitalizes on the project's inherent economic attractiveness. A project's underlying economic attractiveness is determined by its inherent comparative advantage in accessing the factors of production, combining these factors of production to create a product and marketing this product. Initially, the decision regarding whether to go ahead with the project - the go/no go decision - has to be based on its total ability to generate cash flow returns to project participants to compensate them for resources committed and risks undertaken. The extent to which project sponsors will actually benefit from the project's inherent economic attractiveness is fundamentally dependent on their ability to establish the long-term financing arrangement which best meets the objectives and constraints of each project participant and sources the most advantageous funding. The decision regarding the financing of the project, the "how-to-go" decision, is then an attempt to find the capital structure, consistent with market terms and conditions and sound financial management policies which will best: (i) match planned outflows with cash inflows; and (ii) maximize the return for project sponsors. This article makes use of a case study to illustrate the analytical process involved in dealing with the go/no go and the how-to-go decisions on a project. Though most commonly applied to project finance situations, the guideline described herein is equally applicable to other financing situations, such as leveraged buyouts and debt restructurings, where timely repayment of debt depends largely on the future cash flows to be generated by the entity being financed. Our case study is of a hypothetical expansion of an existing copper mining operation in Latin America. The company, Latin American Copper (LAC) currently has 147 million metric tons of proven sulphide ore reserves. The existing mine complex consists of an open pit mining operation and a conventional flotation plant with a processing capacity of 20,000 metric tons of ore per day. LAC sells copper concentrates primarily to Japanese custom smelters. The mine has been in operation for 5 years, fine copper production last year was 108,240 metric tons, and LAC currently has assets of $175 million and net worth of $135 million. Due to a recent increase in proven reserves, LAC is considering doubling the treatment capacity of its flotation plant to 40,000 tons per day, and expanding its mining capacity to meet the additional concentrator capacity (the "Project"). Project capital expenditures and incremental working capital have been estimated at approximately $210 million. The construction period is expected to cover one year, including a three-month start-up phase. The Project is to be funded by a combination of equity, senior debt, including both supplier credits and/or commercial bank term loans, and subordinated debt. LAC's shareholders are willing to commit a maximum of $50 million to the Project. A government development agency, which is also a minority shareholder, might be willing to lend approximately $40 million to LAC in the form of subordinated notes, depending on the ability of the Project to generate foreign exchange reserves. Commercial banks cannot be expected to offer loans with maturities longer than ten years. The Project is expected to increase the value of the firm because: (i) It will solidify the Company's position as a low-cost copper producer by taking advantage of economies of scale. As a result of the expansion, cash production costs are expected to decrease 7.0[c]/lb. and all-in costs 11.0[c]/lb; (ii) The potential earnings stream from the sulphide ore reserves will be realized

Jan 1, 1985

By John S. Brock

INTRODUCTION The Oxford Dictionary says that the word "promoter" has usually been used in an opprobrious sense since at least 1876. This popular image of mining promoters is of cigar-chomping shysters and Brooklyn-Bridge vendors, improving their standard of living with the aid of funds raised through the sale of stock to little old ladies. It is unfortunate that mining promoters are considered crooks until they can prove their integrity and honesty by finding a mine. A common rule of thumb states that for every 1,000 prospects, 100 come to be drilled, and one becomes a mine. However, it is also a statistic that there have been mining promotions, where money raised has gone elsewhere than into the ground; Junior exploration companies can be handy vehicles for unscrupulous financial activity. One must remember though that every stock exchange has had its share of sound mining promotions that, because of the one in 1,000 odds, have failed for legitimate reasons. The promoter must be able to rationalize the worth of a mineral discovery which, on an industry- average basis, probably cost more to find than the discounted value of its net return, which return is not an assured percentage of invested capital, and furthermore, is ultimately from a wasting asset. So, it is easy to understand why the promoter must constantly justify the credibility of his operation to his grubstakers during the course of the "five phases of exploration," those being (1) euphoria, (2) disillusionment, (3) search for the guilty, (4) punishment for the innocent, and (5) distinction for the uninvolved. The promoter with the exploration organization that does not have the benefit of positive cash flow, by definition for the sake of this article, works for a promotional outfit, a Junior Company, that must raise its exploration budget from a variety of sources. Promotion, as discussed here, will not entirely refer to the formation and operation of a joint- stock company but rather to the overall methods of raising risk capital for mineral exploration ventures from outside sources. THE NECESSITY OF PROMOTION In Canada, the publicly financed Junior Company has had an enviable record of mine-finding success. In the Province of British Columbia alone, the discovery of fifteen out of twenty-four mines has been as a result of the activity of the Junior Company (B. C. & Yukon Chamber of Mines, 1977). In the Province of Ontario, one research study indicated that between 1951 and 1974 the 'Juniors' spent only 28 percent of the total exploration funds but were responsible for 62 percent of all economic discoveries (Freyman, 1978). The reasons for the success of the Juniors are tied to a variety of factors, the main one being personal initiative based on incentive. In other words, the principals, or their employees have 'a piece of the action.' The smaller companies can operate faster and more efficiently than their larger counterparts. The Junior Company is also destined to take some bigger risks, the 'long shots,' many of which efforts by virtue of the Junior's perseverance coupled with a touch of 'ore is where you find it' philosophy, result in major discoveries. The individuals, syndicates, private and publicly financed Junior Companies, because of high costs of exploration and development, cannot hope to finance most mineral prospects all the way to production. Exceptions do exist, those being the lower capital cost, small, high-grade deposits. Private investors and publicly financed Junior companies, therefore, can usually afford to finance most exploration through the initial drill-testing stage. The major resource company will enter a mining deal with a Junior Company usually by way of option or joint venture agreement, and will finance to production to earn an equity in the prospect or the Junior Company or both. The conventional lending institutions, banks and government agencies, will usually only participate through loaning a portion of capital

Jan 1, 1985

By R. G. Hawthorne

This report is concerned with fluid displacement in porous media, in those cases where viscous and gravitational forces control the displacement. Such a system would usually be found in a sand body of large physical dimensions such as an oil reservoir, although it is possible to create such a system in the laboratory. It is shown that the position of the fluid interface can be predicted by numerical calculations using a basic idea presented by Dietz. Fluid flow is considered in a vertical plane in a homogeneous, porous medium of sufficient thickness that the capillary transition zone is small in comparison with the total reservoir. A theory developed by Dietz' is used to make numerical calculations of the position of the fluid interface. The results for several conditions are compared with scaled model experiments. The results show that, for gas drive in a reservoir of steep dip, a relatively low flow rate can displace large volumes of oil before gas breakthrough. On the other hand, water injection at favorable mobility ratio and low dip may show best performance at high rates. Water tends to underride the oil and, given sufficient rime, will break through without much oil displacement. For certain conditions, which include relatively low flow rate, the interface is a straight line and its behavior is simple to calculate. At higher flow rates, the interface is unstable, and a numerical solution was programed for an automatic computer. In general, good agreement is shown between the fluid model and the computed results so long as gravitational forces have control. For a water drive at very unfavorable mobility ratio, many small water fingers appear. These viscous fingers are not controlled by the relatively small gravitational forces. When viscous fingering becomes the controlling factor, the mathematical model is oversimplified, and results do not check the fluid flow model. INTRODUCTION Present methods of reservoir analysis depend upon certain simplifying assumptions to obtain mathematical descriptions of practical use. Material-balance methods (Muskat2 or Tarner2) assume uniform fluid saturations in the entire reservoir, or in a few subdivisions of the reservoir. An unsteady-state flow calculation by West, er at considered pressure and saturation changes in flow to a well during solution gas drive, and neglected gravity effects. Results showed only a 4 per cent difference for ultimate oil recovery by the Muskat method, even though the case chosen for study was one in which unsteady-state effects should be high. The Buckley-Leverett5 method commonly assumes a one-dimensional flow system. It is applicable at high flow rates where viscous forces predominate over gravity forces. Simultaneous, parallel flow of the two fluids is assumed, and the concept of a fluid interface is not introduced. Permeabilities to each fluid for a given saturation must be known. The method is not applicable for a two-dimensional system where cross flow becomes possible. Less well known is the displacement equation derived by Dietz. This method is designed for two-dimensional flow systems and assumes a definable fluid interface within the porous medium. Dietz showed that, for a range of low flow rates, the interface would be stable. straight and at an angle of inclination which could be simply calculated. At a certain critical flow rate, the calculated interface tilt would equal the formation dip. For higher flow rates, a finger of displacing fluid would invade the displaced fluid. Dietz indicated that his method applied only to macroscopic reservoir behavior, while the Buckley-Leverett method applied to the small transition zone at the fluid interface. The examples worked out in this report are based on the fluid-displacement theory of Dietz. It is shown that the Dietz theory may be used to derive equations analogous to the Buckley-Leverett equations. In contrast to the Buckley-Leverett method, flow is considered in a plane rather than being limited to a line. Rather than a frontal advance, the movement of a fluid interface is followed. For flow rates substantially exceeding the critical rate and for high viscosity ratio, many fingers of invading fluid occur-—rather than the single finger assumed by Dietz. On the other hand, so long as some gravitational influence remains, the flow is not entirely parallel to the bedding planes as assumed by Buckley and Leverett; therefore, both methods fail to give an adequate descrip-

By P. W. Bridgman

FLOW and fracture are admittedly complicated phenomena of which we are yet only partially masters. There is not even universal agreement as to the details of the language best adapted merely to describe the phenomena, to say nothing of any theory. Certain points of view, however, are widely held, and there are certain general expectations as to what sort of procedures will prove permissible. A complete description of any situation involving fracture would demand a complete history of all the variables in the control of the experimenter. The experimenter endeavors so to choose his independent variables that they are adequate to determine completely the situation in the sense that when an experiment is repeated on the same initial material and with the independent variables running through the same sequence, all the other measurable properties of the system will also run through the same course. It is, I think, the universal conviction that when we are dealing with phenomena of flow and fracture, the most important of the necessary variables are the external forces acting on the various parts of the body; when the force history repeats, with certain obvious restrictions such as that temperature must be constant and non- mechanical forces, such as magnetic field, must be small enough to be ineffective, then the history of all measurable properties will repeat; in particular the alteration of geometrical shape due to flow will run through the same course, and when fracture comes, the character of the fracture will be reproduced. Complete mastery of merely the descriptive aspects of flow and fracture would demand the ability to predict the entire course of flow and complete characterization of the final fracture for every possible combination of forces, varying in time in all possible ways, when applied to bodies of all possible shapes. This full situation is obviously of prohibitive complexity. The first stage in reduction to manage- able simplicity is to resolve the total situation into the sum of contributions made by small elements. Our thesis is that if each of the elements is adequately characterized, the behavior of the whole system is fixed. The element is usually taken of a simple geometrical shape, suggested by the mathematics best adapted to the particular situation. The forces acting across the faces of the elements are ultimately determined by the forces acting across the free faces of the whole system. The detailed process of finding the precise forces on the faces of all the elements in terms of the external forces involves the use of a special mathematical invention, the stress, a constructional quantity consisting of six components. The stress at any point in the body is determined by both the external force system and by the physical properties of the body at all points; quite different stresses prevail at the interior of bodies of the same shape under the same external forces in the elastic and plastic ranges. The forces on the faces of any element are, however, uniquely determined by the stress system at the element. Our fundamental thesis

Jan 1, 1944

By S. N. Singh, M. C. Flemings

Results are presented of a study on the combined influences of ingot dendrite am spacing and thermo-mechanical treatments on the fracture behavior and mechanical properties of high purity 7075 aluminum alloy. The most important single variable influencing mechanical properties was found to be undissolved alloy second Phase (microsegregation inherited from the original ingot). Ultimate and yield strengths were found to increase linearly with decreasing amount of alloy second phase while ductility increased markedly. At low amounts of second phase, transverse properties were approximately equal to longitudinal properties. In tensile testing, microcracks and holes were invariably found to originate in or around second phase particles. Fracture occurred both by propagation of cracks and coalescence of holes, depending on the distribution and amount of second phase. IN most commercial wrought alloys, second phase particles are present that are inherited from the original cast ingot. These include, for example, non-equilibrium alloy second phases such as CuAl2 and impurity second phases such as FeA13 and Cr2A1, in aluminum alloys. A previous paper1 has dealt with the morphology of these second phases in cast and wrought aluminum 7075 alloy, and with their behavior during various thermomechanical treatments. In this paper we discuss the influence of the particles on mechanical properties and fracture behavior of the alloy. Previous experimental work indicating a direct and major effect of second phase particles on mechanical properties (especially on ductility) includes the work of Edelson and Baldwin on pure copper.' Also relevant are the many studies demonstrating the important effect of nonmetallic inclusions on the fracture of. steel.3'4 Work on aluminum includes that of Antes, Lipson, and Rosenthal5 who showed that a dramatic improvement in ductility of wrought aluminum alloys of the 7000 series is achieved by eliminating second phases. It now seems well established that included second phases play a dominant role in controlling ductility (as measured, for example, by reduction in area in a tensile test) of a variety of materials. There is, therefore, considerable current interest in the mechanisms by which second phase particles affect ductile fracture. Experiments done by various workers have shown that second phase particles or discontinuities in the microstructure are potential sites for nuclea-tion of microcracks and of holes,6-l3 which then grow and cause premature fracture and the loss of ductility. Theoretical attempts have been made to explain the observed phenomena; most are able to explain observations qualitatively, but lack quantitative agreement. Much experimental work needs to be done to aid extension of theoretical models. A recent review article by Rosenfield summarizes work in this general area.14 PROCEDURE Material used in the previously described study on solution kinetics of cast and wrought 7075 alloy1 was also used in this study. Procedures for ingot casting, solution treating, and working were described in detail in that paper. Test bars were obtained for material of 76 initial dendrite arm spacing (11/2 in. from the ingot base) and 95 µ initial dendrite arm spacing (51/2 in. from the ingot base) for the following thermomechanical treatments (solution temperature 860°F; reduction by cold rolling). a) Solution treated 12 hr, reduced 2/1, 4/1, and 16/1. b) Solution treated 12 hr, reduced 16/1, solution treated approximately 5 hr after reduction. c) Same as a) except solution treated 24 hr prior to reduction. d) Same as b) except solution treated 24 hr prior to reduction. e) Same as d) except solution treated 20 hr after reduction. Test bars were taken both longitudinally and transverse to the rolling direction. Transverse properties are in the long transverse direction; since the final product was sheet (0.030 in. thick), properties in the short transverse direction could not be obtained. Test bars were flat specimens, of gage cross section1/-| in. by 0.030 in. and 1/2 in. gage length. After machining the test bars, they were given an additional 1/2 hr solution treatment of 860°F and aged 24 hr at 250°F. Three bars were tested for each location and thermomechanical treatment, after rejection of mechanically flawed bars. The average results of these three bars are reported. Elongation was measured using a $ in. extensometer and reduction in area was determined using a profilometer to measure the area after fracture. INFLUENCE OF THERMOMECHANICAL TREATMENTS AND SECOND PHASE ON MECHANICAL PROPERTIES Results of mechanical testing are presented in Figs. 1 to 4 and in tabular form in the Appendix. A general conclusion from results obtained is that details of the thermomechanical treatments studied were important only insofar as they influenced the amount of residual second phase. Figs. 1 and 4 show the longitudinal properties obtained (regardless of thermomechanical

Jan 1, 1970

By Gregory J. Comstock

There is a growing interest in the possibilities presented by the manipulation of metal powders, which justifies an attempt to summarize their character and potential value. A summary of this kind presents an opportunity for making a classification of metal powder products into several general types. Our present knowledge of the finer and more abstract aspects of many of the principles involved in metal powder technique is extremely limited. Any conclusions as to the ultimate value of the process will, therefore, for the present at least, be of doubtful value unless they are substantiated by its products. The number of such products is increasing. A study of their diverse and unusual characteristics; an examination of the methods by which they are made, and a consideration of the reactions that take place during their fabrication, in so far as we can define them, should afford as good an evaluation of this interesting development as it is possible to make at this time. A critical study of this kind results in a formidable list of special attributes, which apparently are characteristic of applied powder metallurgy. A comparison of these special effects with the end products and well defined limitations of the melting and casting process indicate that often they may very well be considered as being special advantages. They are subject, of course, to certain not as yet so well defined limitations of their own. Based on current products only, a necessarily condensed summary of the more striking special attributes of the metal powder process follows. Manipulation of Highly Refractory Metals The powder process presents a means of manipulating highly refractory metals, which cannot be cast and formed in the usual melting and casting process. Tungsten, molybdenum and tantalum are the classic examples of the adequacy of the metal powder process for meeting unusual conditions of this character. The development and application of these metals by means of it, and their importance in the electrical

Jan 1, 1938

By Gregory J. Comstock

There is a growing interest in the possibilities presented by the manipulation of metal powders, which justifies an attempt to summarize their character and potential value. A summary of this kind presents an opportunity for making a classification of metal powder products into several general types. Our present knowledge of the finer and more abstract aspects of many of the principles involved in metal powder technique is extremely limited. Any conclusions as to the ultimate value of the process will, therefore, for the present at least, be of doubtful value unless they are substantiated by its products. The number of such products is increasing. A study of their diverse and unusual characteristics; an examination of the methods by which they are made, and a consideration of the reactions that take place during their fabrication, in so far as we can define them, should afford as good an evaluation of this interesting development as it is possible to make at this time. A critical study of this kind results in a formidable list of special attributes, which apparently are characteristic of applied powder metallurgy. A comparison of these special effects with the end products and well defined limitations of the melting and casting process indicate that often they may very well be considered as being special advantages. They are subject, of course, to certain not as yet so well defined limitations of their own. Based on current products only, a necessarily condensed summary of the more striking special attributes of the metal powder process follows. Manipulation of Highly Refractory Metals The powder process presents a means of manipulating highly refractory metals, which cannot be cast and formed in the usual melting and casting process. Tungsten, molybdenum and tantalum are the classic examples of the adequacy of the metal powder process for meeting unusual conditions of this character. The development and application of these metals by means of it, and their importance in the electrical

Jan 1, 1938

By F. H. Labee

Questionnaires and special letters soliciting information were sent to a great many geologists, petroleum engineers, independent operators, and representatives of large companies in Arkansas, Louisiana, Texas and New Mexico. Replies to more than 50 per cent. of these letters were received. A survey of the facts and opinions presented in this correspondence will be made a little later, but first some of the general aspects of the problem will be reviewed. By "unit operation,"1 we mean the development and operation of a single entire pool, or reservoir, of petroleum by one management, on a systematic and scientific plan which is best calculated ultimately to extract from the pay sand and bring to the surface of the ground the largest possible amount of oil with the greatest possible total profit. No one, as far as the author has been able to ascertain, denies the advantages, both scientific and practical, of unit operation. All are agreed that it is sound in theory. It permits the proper distribution of wells, which should always be spaced on the ground according to a regular geometric plan with the intention of maintaining the same spacing all the way down and into the pay sand, or pay sands. This spacing will be different for different fields, depending on such variable factors as the lithologic character of the pay formation, the nature of the controlling structure, the depth of drilling, the viscosity of the oil, and so on. From the viewpoint of engineering practice, as applied to economical extraction of oil, there is no more important consideration than well spacing—well spacing in the pay formation, and not merely on the surface of the ground —for the method of well spacing has a direct bearing upon all such engineering practices as pressure control, repressuring by gas, the water drive, and SO on. H. C. Miller2 summarized the advantages of an ideal cooperative development plan as follows: "Among the more important advantages of

Jan 1, 1930

By A. B. Stevens, C. J. Coberly

The absolute porosity of a rock or sand may be defined as the volume of the interparticle space expressed as a percentage of the total rock volume. The effective porosity as contrasted with the absolute porosity is the volume of the interparticle spaces which intercommunicate with passages of sufficient size to permit the entrance or recovery of gas or oil, also expressed as a percentage of the total rock volume. A knowledge of effective porosity is of prime importance in estimating the ultimate recovery to be expected from oil and gas-bearing formations. The determination of the effective porosity of a rock includes the measurement of two values: (I) the volume of the rock as a whole, and (2) the volume of the grains and sealed pore space. This paper deals with a new apparatus which has been called a "hydrogen porosimeter" for determining the volume of the grains and the sealed pore space. This volume is determined by means of the pressure relations established in the instrument by the introduction of a known quantity of hydrogen. The Hydrogen Porosimeter The apparatus used in this work consists of an upper chamber for measuring the gas, a lower chamber for holding the sample to be tested, a gage for measuring the pressures, a tank of hydrogen, and the necessary connections. (Figs. 1 and 2.) Of the several gases that might be used for this work, hydrogen has been chosen for three reasons: (1) it deviates less from the gas laws than most gases; (2) it readily penetrates the sample; (3) it is absorbed less than most gases by the solids and liquids with which it may come in contact. Method of Operation After placing the sample to be tested in the lower chamber, the apparatus is thoroughly flushed with hydrogen to remove all air from the system, which is then brought to atmospheric pressure Po. The valve connecting the two chambers is next closed and the pressure in the upper chamber is brought up to a pressure PI by admitting gas from the tank.

Jan 1, 1933

By J. T. Hayward

Studies of the forces and conditions governing the recovery of petroleum from natural reservoirs indicate that a low gas-oil ratio increases ultimate recovery, retards the encroachment of water and tends to reduce lifting costs. Methods for controlling and reducing gas-oil ratios in producing wells consequently have been given considerable attention during the past few years. However, during this same period, the production from wells in nearly all fields has been fixed by proration agreements and it is the opinion of the writer that where a well is required to produce steadily at a predetermined rate, less than its "potential" or maximum capacity, the gas-oil ratio will depend only upon the rate of production, and will be independent of the method of production and of the design of equipment in the well. If no change in the rate of production is contemplated, efforts directed to improving the gas-oil ratio by altering the diameter of the flow string, changing the position of the choke, assisting the flow with gas-lift or pump, etc., will be unsuccessful. This viewpoint is not new. It was presented by H. N. Marsh and B. H. Robinson in 1929,' but it has not been generally accepted. Although engineers believe that the rate of withdrawal and not the equip ment used governs the water-oil ratio, a similar opinion regarding the gas-oil ratio is not so commonly admitted. The rates of flow of oil and gas into the base of an oil well depend upon the following conditions: 1. The characterist-ics of the oil and gas. 2. The characteristics of the underground reservoir. 3. Temperature and pressure conditions in the reservoir. 4. The back-pressure held against the face of the sand. In operating a well, the only one of these conditions over which control may be exercised through operating procedure and the use of equipment above the sand is the back-pressure at the face of the sand. Strictly speaking, the back-pressure varies over the face of the sand, owing

Jan 1, 1932

By Arthur Phillips, Carl H. Samans

The study of anisotropy in metals has been greatly stimulated in recent years by the rapid development of X-ray methods for determining the crystallographic relationships of wrought and annealed materials. Prior to this time the knowledge regarding the directional properties of commercial alloys consisted almost exclusively of observations of a practical nature made during the fabrication of metal objects, supplemented by a limited number of mechanical tests on specimens cut at various angles to the direction of working. Such observations clearly indicate that the common methods of cold-working metals cause both a crystallographic and a mechanical fibering varying in character and degree according to the nature and extent of the deforming process. Even after annealing, following certain not too well known combinations of reductions and anneals, a preferred orientation may exist,, thereby constituting a residual fiber effect sufficiently pronounced to manifest directional properties. With the application of the X-ray the experimental horizon was extended chiefly because the study of anisotropic metals promised to offer direct and quantitative evidence regarding the involved mechanism of fragmentation and plastic flow. As a natural consequence the intensive studies in this direction have yielded a vast accumulation of data of ultimate potential value. Unfortunately, however, as is commonly the case in entering a virgin field of experimentation, many of the data cannot be molded into complete and coherent form because of the many unrelated conditions of the experimental projects. Again, the results of the study of single crystals have been rather naturally but at times indiscriminately applied to poly crystalline metals. Furthermore, sweeping statements have been made regarding the behavior during working and annealing of metals and alloys, entirely on the basis of similarity in lattice arrangement. There is abundant reason for believing that relatively small concentration variables, differences in magnitude and distribution of applied stresses, and the character of associated annealing treatments may in some cases greatly influence the mechanics of flow

Jan 1, 1933

By K. J. Brondyke, P. D. Hess

Two processes have been developed for improving the quality of molten-aluminum alloys before casting. The Filtration Process. which involves passing molten metal through a packed bed of granular filter material, is a rapid means of removing finely divided particles. It has the most potential in those instances where removal of inclusions is of primary importance. The Combination Fillration-Inert Gas Fluxing Process inuolzles introduction of an inert gas so that it will diffuse countercurrent to metal flow through the filter bed of granular material. Dissolved hydrogen is removed from the metal in addition to removal of finely divided particles. The Combination Process is most useful where both inclusion removal and attainment of conistently low-hydrogen-content metal are important. Metal treated by the Combination Process is of higher and more uniform quality than heretofore attainable with prolonged chlorine fluxing. Costs of the Combination Process can, for the most part, be offset by savings derived from high recoveries and increased production of superior-quality products. IMPROVEMENT in the quality of molten-aluminum alloys is secured generally through the use of some fluxing practice in a crucible, holding furnace, or ladle involving either gaseous or solid fluxing media. Typical fluxing agents may include the gases nitrogen, argon, or chlorine used either singly or as mixtures and the solids aluminum chloride or hexachloroethane. Regardless of the fluxing means used, the primary objectives are the adequate removal of both metallic and nonmetallic inclusions and reduction of hydrogen content to an acceptably low level. The ultimate goal is to produce ingots and cast products of high quality free from inclusions and porosity. The development of ultrasonics for measurement of internal quality, tightening of quality controls, and the application of the aluminum alloys to new or different commercial fields have been responsible for an ever increasing demand for improvement of quality of both cast and fabricated products. This demand for high quality has not been restricted to any single type of product. On the contrary, the demand encompasses about the entire variety of products including those for fabrication, those to be machined, buffed, or finished for decorative purposes, and those for critical applications where both surface and internal quality is of utmost importance. In many instances products acceptable in the 40's would now be scrapped as unacceptable by these higher present-day standards. With this ever increasing demand for higher quality, it became apparent at Alcoa that conventional means of melt treatment were inadequate in many instances and new approaches were necessary. Consequently the research program was intensified with attention focused on metal treatment during transfer in order to reduce the furnace processing time to a minimum in an effort to attain the desired results at a minimum of additional expense. As a result of this intensive research program which covered numerous variations and adaptations of conventional methods in addition to new methods of melt treatment, several new processes were developed, two of which will be described here. The first of these, a method of melt filtration, was patented in February, 1959.l The second process involving combination filtration—inert gas fluxing was patented in June, 1962. 2 Other melt-treatment processes developed during this period of investigation were patented as listed.3 FILTRATION PROCESS General Description. The Filtration Process, which involves passing molten metal through a packed bed of granular filter material, is a rapid method of effectively removing finely divided particles. It is an impingement-type filter; hence the size of the particles removed from the metal are considerably smaller than the interstices of the

Jan 1, 1964

By William R. Webster

The unusual interest taken in the papers on steel at the New York (1922) meeting showed that the time is ripe for the renewal of the general discussion of the physics of steel, on the same lines that wete used formerly and produced such good and lasting results. The curves shown in Figs. 1 to 4 and the appendix were added to my paper1 after the February meeting, but, unfortunately, Figs. 1 and 3 were transposed; the curves on page 252 are for bessemer steel and belong on page 254; while those on page 254 are for open-hearth steel and belong on page 252. These errors are evident at once on referring to the data in Tables 1 and 2, pages 227 and 228. The curves for each 0.05 per cent. of carbon and manganese in basic open-hearth steel are given in Figs. 1 and 2; these lines for the lower carbons and manganese are comparatively uniform. Figs. 3 and 4 give similar lines for carbon and manganese in bessemer steel. The large break in the carbon lines from 0.55 per cent. to 0.60 per cent. is caused by much higher silicon in the steels of 0.60 per cent, carbon and over that are used for springs, etc. The estimated ultimate strength of pure iron, and the increase in strength by carbon, phosphorus, and manganese, with the different views regarding the same, were given and diseussed. All of this can be considered as an introduction to the practical use that is now being made of such data in selecting the heats of steel best suited to give the required physical tests called for in the finished rolled material. The chemical composition of the steel, of course, tells only a part of the story, as many other factors that have an influence on the physical properties of the steel must be considered, and controlled as far as is possible. Some of these have already been referred to, but there are other important ones to be considered and discussed.

Jan 1, 1923

By C. K. Leith

MANGANESE is one of the minerals which is principally consumed in countries other than those of origin. Nearly 85 per cent of the pro-duction is used by the United States, England, Germany and France, and roughly a third of the total is used by the United States alone. On the other hand, over 85 per cent of the world production comes from Brazil, Russia, India, the Gold Coast of Africa, and the Sinai Peninsula. It follows from this fact that practically all manganese moves across international boundaries in raw or alloy form, and much the larger part of this movement is for considerable distances and is ocean borne. There is no indication that any one of the principal consuming countries can develop even approximately adequate supplies of its own. Under abnormal war conditions, with high prices and changes in metal-lurgical methods, only 35 per cent of the needs of the United States was met from local sources, and under our recent tariff only 11 per cent. There are thousands of manganese deposits scattered about the world, but only a very few which can figure largely in supplying requirements on a modern scale. The known reserves, together with highly probable extensions and explora-tions now under way, indicate no shortage from a world standpoint for many decades to come. The production and marketing of manganese is going steadily into fewer and stronger hands. The steel in-dustry uses over 90 per cent of all the manganese mined, and is acquiring control of a considerable part of the production in all of the principal fields-the Germans in Nikopol, the English in India and Gold Coast, the Americans in Georgia, India, Gold Coast and Brazil. Some of the controlling companies are of international scope. Concentration of commercial control is a notable tendency. A natural consequence is the growing un-easiness of smaller consumers the world over about their ultimate supplies and desire to know more definitely how and where manganese supplies will be controlled in the future. The sources of supply are few enough to warrant the belief that more or less monopolistic ele-ments of control are not impossible.

Jan 5, 1927

By William R. Webster

The unusual interest taken in the papers on steel at the New York (1922) meeting showed that the time is ripe for the renewal of the general discussion of the physics of steel, on the same lines that wete used formerly and produced such good and lasting results. The curves shown in Figs. 1 to 4 and the appendix were added to my paper1 after the February meeting, but, unfortunately, Figs. 1 and 3 were transposed; the curves on page 252 are for bessemer steel and belong on page 254; while those on page 254 are for open-hearth steel and belong on page 252. These errors are evident at once on referring to the data in Tables 1 and 2, pages 227 and 228. The curves for each 0.05 per cent. of carbon and manganese in basic open-hearth steel are given in Figs. 1 and 2; these lines for the lower carbons and manganese are comparatively uniform. Figs. 3 and 4 give similar lines for carbon and manganese in bessemer steel. The large break in the carbon lines from 0.55 per cent. to 0.60 per cent. is caused by much higher silicon in the steels of 0.60 per cent, carbon and over that are used for springs, etc. The estimated ultimate strength of pure iron, and the increase in strength by carbon, phosphorus, and manganese, with the different views regarding the same, were given and diseussed. All of this can be considered as an introduction to the practical use that is now being made of such data in selecting the heats of steel best suited to give the required physical tests called for in the finished rolled material. The chemical composition of the steel, of course, tells only a part of the story, as many other factors that have an influence on the physical properties of the steel must be considered, and controlled as far as is possible. Some of these have already been referred to, but there are other important ones to be considered and discussed.

Jan 1, 1923

By D. J. McAdam, R. W. Mebs

THE technical cohesive strength of a metal means, not the interatomic forces, but the technically estimated resistance to fracture. An example of such resistance to fracture is the so-called "true" breaking stress of a tension-test specimen, the breaking load divided by the sectional area at fracture, According to the prevalent view,8 the technical cohesive strength of a metal, in any particular state as regards prior mechanical treatment and heat-treatment, is determined by a limiting value of the algebraically greatest principal stress.? In two previous papers by one of the authors,14,15 evidence was presented to indicate that the technical cohesive strength of a metal cannot be represented by a single stress value, but that it comprises an infinite number of values corresponding to the infinite number of possible combinations of the principal stresses. The technical cohesive strength thus comprises an infinite number of technical cohesion limits, each representing a specific stress combination at fracture. In the same papers, evidence was presented that plastic extension causes a continuous increase in the technical cohesive strength. Such a variation is not in accordance with the prevalent view that plastic extension first increases, then decreases, the technical cohesive strength.8 In this paper, as in the previous papers,14,15 the algebraically greatest principal stress will be designated S1, the least principal stress will be designated S3, and the intermediate principal stress will be designated S2. The technical cohesion limit under polarsymmetric tension (S1 = S2 = S3) will be termed the "disruptive stress," and the cohesion limit under unidirectional tension (S2 and S3 = o) will be termed the "severing stress." 14,15 The yield strength of a metal, according to the generally accepted theory, may be represented by a constant value of the shearing-strain energy, and hence by a constant value of the sum of the squares of the three principal stress differences. In the second of the previous papers,"' however, evidence was presented that the limiting yield stress decreases with increase in the volume stress, the algebraic average of the three principal stresses.* This influence of the volume stress becomes prominent only in the field of triaxial tension. In the two previous papers, 14,15 diagrams were presented to show the variation of the technical cohesion limit, yield stress, and ultimate stress with the combination of principal stresses and with plastic extension. Those diagrams and the resultant conclusions are derived from experimental data obtained by other investigators. They are based chiefly on results of tension tests

Jan 1, 1943

By Kenneth K. Humphreys

INTRODUCTION What is automation? Why automate? Webster's New Collegiate Dictionary defines automation as "the automatically controlled operation of an apparatus, process or system by mechanical or electronic devices that take the place of human organs of observation, effort, and decision." This definition gives an implied answer to the second question, )"Why automate?" Automation, automatic control devices and process control equipment receive their justification in supplementing or replacing manpower, which results in decreased operating costs. In the past, processes were operated with a minimum of instruments for the purpose of merely guiding the operators. Processes were manually controlled by the operator on the basis of simple temperature, pressure, flow and level indications on a panel. Today the tendency is to design a new plant to operate in a fully automatic manner according to a preset pro- gram utilizing a minimum of manpower. In addition to this direct cost reduction savings in manual labor, increased equipment capacity results from uniformity of flow and uniform control of process variables. This control eliminates or minimizes surges and permits equipment to be operated at or near its ultimate capacity and, for a given material through- put, permits the use of smaller process equipment. Automatic control, therefore, be it in the field of coal processing or in any industrial field, is simply a problem of economics. Control equipment is justified in terms of its contribution toward increasing productivity, increasing profit margins or producing a new and saleable product at a profit. Instruments and control devices can be divided into two general groups: (1) units which measure, and (2) units which both measure and control a process variable. In coal processing, the first class of instruments, those which measure only, include analytical devices such as automatic ash, moisture and sulfur measuring units and the simple pressure, temperature, flow and level indicating devices mentioned previously. The second group of instruments, those which both measure and control, include a wide variety of units such as continuous weighing devices on conveyor belts and photoelectric cells which gauge the position of railroad cars on the track and insure that the cars are in the proper location for loading (see Chapter 15). The latter types of units as used in the coal industry differ from those used in other industries in one significant point. In coal processing these instruments need not be as highly sophisticated and accurate as in other industries; hence their cost is proportionately lower than in other industries. Because of the economic fact that coal sells for only a fraction of a cent per pound compared to dollars per pound for many chemical products, and

Jan 1, 1968

By H. F. Winham

The history, development, subsurface geology, production, economics and estimated reserves are discussed in this paper. The Magnolia structure is an anticline with a known maximum structural relief at 372 ft., and the areal extent of the producing acreage is 4494 acres. Production is obtained from the Smack-over oölitic lime and 116 successful wells have been drilled. The field, which was developed on 40-acre spacing, has been under strict control. It is believed to be producing with a strong water drive, To date it has produced more than eighteen million barrels and the estimate of ultimate recovery is 220 million barrels. Early History The Magnolia field is in colurnbia County, Arkansas, T. 17 s., R. 19 and 20 W. Various geologists had long been interested in this general area, and as early as 1921, John F. Magale was able to define a surface structure. The first wildcat, one of the first in Columbia County, was drilled in 1923 by Mid-States Oil Co., in sec. 10, T. 17 S., R. 20 W. This well was about 11/2 miles northwest of the Kerlyn oil Company's discovery well and was based on surface geological work done by Jewel and Dobie. Subsequently, several shallow wells that were not carried below the Upper Cretaceous beds were drilled in the immediate area of the discovery well, but none of them contained any commercial showings of oil Or gas. In the latter part of 1935, Elam and Magale (or Southwood) Garrett NO. I was located in sec. 13, T. 17 S., R. 20 W., 3/4 mile east of the discovery well. It was drilled to a total depth of 4018 ft. in the lowermost Glen Rose beds but failed to obtain any showings of oil or gas. Interest had been stimulated in this general area, however, by the discovery of several oil fields, mainly Glen Rose oil production in the Rodessa field in Louisiana in 1935, Smackover lime productioil in Snow Hill in May 1936, production from the Cotton Valley formation in Schuler in 1937, and Smackover lime production from the Buckner field in November 1937. With this background and subsequent seismic work, which was carried on partly because the old shallow wells drilled in the township had shown evidence of closure in the Upper Cretaceous beds, the discovery well, Kerlyn Oil Company's Barnett No. I, Sec. 14, T. 17 S., R. 20 W., was originally projected to a total depth of 6300 ft., to test the equivalents of the Morgan sands of the Cotton Valley series, then producing at Schuler. The well was carried to a depth of 6325 It. and tested the objective beds without finding commercial production. In the meantime, however, one well had found production in the Jones sand and another in the Smaclrover lime at Schuler. Kerlyn immediately made arrangements to deepen the Barnett well to the Smackover lime. The top of the Smackover lime was encountered at 7618 ft. and the well

Jan 1, 1943

By H. F. Winham

The history, development, subsurface geology, production, economics and estimated reserves are discussed in this paper. The Magnolia structure is an anticline with a known maximum structural relief at 372 ft., and the areal extent of the producing acreage is 4494 acres. Production is obtained from the Smack-over oölitic lime and 116 successful wells have been drilled. The field, which was developed on 40-acre spacing, has been under strict control. It is believed to be producing with a strong water drive, To date it has produced more than eighteen million barrels and the estimate of ultimate recovery is 220 million barrels. Early History The Magnolia field is in colurnbia County, Arkansas, T. 17 s., R. 19 and 20 W. Various geologists had long been interested in this general area, and as early as 1921, John F. Magale was able to define a surface structure. The first wildcat, one of the first in Columbia County, was drilled in 1923 by Mid-States Oil Co., in sec. 10, T. 17 S., R. 20 W. This well was about 11/2 miles northwest of the Kerlyn oil Company's discovery well and was based on surface geological work done by Jewel and Dobie. Subsequently, several shallow wells that were not carried below the Upper Cretaceous beds were drilled in the immediate area of the discovery well, but none of them contained any commercial showings of oil Or gas. In the latter part of 1935, Elam and Magale (or Southwood) Garrett NO. I was located in sec. 13, T. 17 S., R. 20 W., 3/4 mile east of the discovery well. It was drilled to a total depth of 4018 ft. in the lowermost Glen Rose beds but failed to obtain any showings of oil or gas. Interest had been stimulated in this general area, however, by the discovery of several oil fields, mainly Glen Rose oil production in the Rodessa field in Louisiana in 1935, Smackover lime productioil in Snow Hill in May 1936, production from the Cotton Valley formation in Schuler in 1937, and Smackover lime production from the Buckner field in November 1937. With this background and subsequent seismic work, which was carried on partly because the old shallow wells drilled in the township had shown evidence of closure in the Upper Cretaceous beds, the discovery well, Kerlyn Oil Company's Barnett No. I, Sec. 14, T. 17 S., R. 20 W., was originally projected to a total depth of 6300 ft., to test the equivalents of the Morgan sands of the Cotton Valley series, then producing at Schuler. The well was carried to a depth of 6325 It. and tested the objective beds without finding commercial production. In the meantime, however, one well had found production in the Jones sand and another in the Smaclrover lime at Schuler. Kerlyn immediately made arrangements to deepen the Barnett well to the Smackover lime. The top of the Smackover lime was encountered at 7618 ft. and the well

Jan 1, 1943

By Shiro Ban-ya, John Chipman

Equilibrium in the reaction was investigated at temperatures of 1500°, 1550°, and 1600°C for sulfur concentrations up to 7.2 wt pct. Multisample crucibles contained the liquid alloys in a resistance-heated furnace using a technique especially designed for the study of more complex alloys to be reported separately. Modern free-energy data are used to correct the H2S:H2 ratio for dissociation of H2S and calculalion of the partial pressure of S2. Published data on the equilibrium are similarly corrected. Thermodynanzic treatment of the data employs the composition variable zs = nS/(nFe — nS) and the activity coefficient Gs = as/zs The data at 1500" and 1550°C are fitted by the equation log s = —2.30zs. Within the limits of experimental error the same coefficient is applicable to the data at higher temperatures. Equations are given for the free-energy change in Reaction [I] as well as for the solution of S, gas in the metal. The heat of solution of 1/2 s2 is -32.28 i2.5 kcal. Uncertainty in the free energy is very much smaller. For dilute solutions of interest in steelmaking, the activity coefficient of sulfur is unchanged from that listed in Basic Open Hearth Steel-making. DETERMINATIONS of the thermodynamic properties of sulfur in liquid iron by Morris and williams1 and by Sherman, Elvander, and chipman' provided a basis for control of sulfur in steelmaking processes. From the standpoint of understanding the chemistry of metal plus nonmetal in liquid solution they left several questions unanswered. The activity of sulfur in dilute solution at about 1600°C was well-established but temperature coefficients were uncertain, due at least in part to the use of the optical pyrometer and uncertainty regarding the effect of sulfur on emissivity. It appeared that deviation from Henry's law increased with increasing temperature, a most unusual behavior requiring either confirmation or disproof. These studies were based on experimental determination of equilibrium in the reaction: At high temperatures H2S is partially dissociated so that the gas mixture contains HS, S2, and S in addition to HS. At the time of the earlier studies the free energies of these constituents were unknown and it was therefore impossible to make adequate correction for dissociation. Observations on the effects of alloying elements by Morris and coworkers1, 3 and by Sherman and Chip-man4 enable us to assess the effects of alloying elements on the activity and to make corrections for incidental impurities in the binary liquid. These studies as well as a number of more recent investigations will be reviewed in detail after out own experimental results have been presented. It was our purpose in planning this study to avoid uncertainties regarding the emissivity of alloys and the errors of thermal diffusion which plagued some of the early attempts,5 by using a resistance furnace and thermocouple in preference to induction heating and optical pyrometer. Modern data on free energies of the gaseous species are to be applied to our data and to those of other investigators to obtain corrected values of K1 and of the activity coefficient and ultimately to relate the sulfur content of the bath to the equilibrium partial pressure of S,. Extension of the study to include ternary and complex solutions will be described in a later section. EXPERIMENTAL METHOD a) Preparation and Calibration of H2-H2s Gas Mixture. The source of hydrogen sulfide was a preparer mixture of 43 pct H2S, balance hydrogen, contained in a large aluminum cylinder. This was passed through anhydrone and through a microflowmeter. Hydrogen was passed through platinized asbestos, ascar-ite, and anhydrone, and through a capillary flowmeter. Argon was passed through copper wool at 500°C, then through ascarite, anhydrone, and a flowmeter. The flow rate of hydrogen was kept constant at 200 ml per min, to which an arbitrary amount of the hydrogen-hydrogen sulfide mixture was constantly added and then the prepared gas mixture was introduced into the reaction tube through a gas mixer. In certain experiments 200 ml per min of argon was added to the hydrogen-hydrogen sulfide gas mixture to increase the total flow rate of gas. The ratio of hydrogen-hydrogen sulfide in the inlet gas was checked for each run by chemical analysis. A sample of the gas taken from a bypass was bubbled through zinc and cadmium acetate solution (4 pct zinc acetate, 1 pct cadmium acetate, and 1 pct acetic acid) to remove hydrogen sulfide from the gas mixture, and the flow rate of the remaining hydrogen was measured by a soap bubble method to determine the volume of hydrogen. The amount of hydrogen sulfide absorbed in solution was determined by titration with iodine against sodium thiosulfate, with starch used as the indicator. The ratio of hydrogen sulfide to hydrogen in the inlet gas could be kept within ±2 pct in the range from 10-2 to 5 x 10"4 which corresponds to from 0.2 to 7.0 wt pct sulfur in liquid iron. b) Furnace Arrangement. Fig. 1 shows the furnace arrangement and the shape of the alumina crucible used in this experiment. A vertical-tube silicon carbide electric resistance furnace contained the reaction tube which consisted of two parts, the gas-tight

Jan 1, 1969