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By Frederick Laist

THE past year has witnessed no radical changes in methods for the reduction and refining of copper. The Carson litigation was finally brought to a close ant1 the copper smelter is again free to introduce charge into his reverberatory furnaces in whatever manner suits him best. This litigation naturally led to much experimentation with various methods of charging and with various types of bath. In some cases the charge was introduced more or less centrally on a relatively dry hearth and in other cases into a bath of greater or less depth. The results of these furnaces were meticulously compared with the results obtained in side-charger furnaces, and it was apparent that it made little, if any difference how a given furnace \\.as charged so long as care was taken that there was always something in the furnace for the flames to work on. So long as this requirement was complied with, consumption of fuel per ton of charge smelted and tonnage smelted per furnace day remained substantially the same regardless of the method of charging or the depth of bath employed. In some instances the center-charged deep-bath furnaces gave slightly better results than the side-charged particularly with respect to copper losses. The slags of the deep-bath furnaces are generally a little cleaner

Jan 1, 1930

By F. B. Plummer

PERHAPS the greatest progress made in the technical methods of oil production during the last year has been in handling gas from the new fields that yield light distillate fractions. At least sixteen recycling plants have been perfected and installed in South Texas fields alone during 1939 having a daily capacity of more than one billion -2 cubic feet of gas and capable of producing more than a million gallons of distillate daily. The process consists of running the gas under pres- sure through especially designed plants, separating out the condensate, then compressing the gas to 3000 lb. or more, depending on the subsurface pressure in the formation, and injecting gas back into the reservoir to be produced again later, along with more of the liquid hydrocarbons, and again recycled. Hence production in these distillate fields in sense has changed from that of producing a constantly diminishing and much-wasted product to a more or less continuous manufacturing process, in which practically all the gas is conserved-a real triumph in engineering practice.

Jan 1, 1940

By Bradley Stoughton

As a part of the systematic study of the alloys of iron under the auspices of the Engineering Foundation, and preliminary to the commencement of comprehensive work on this larger subject, the authors have undertaken an investigation of the available literature dealing: with the alloys of iron and silicon. The purpose is to collect all the data in English and foreign languages and present them in two mono-graphs, one of a more scientific and the second of a more industrially useful nature. Of course, a great deal of information upon the constitution of the iron-silicon alloys was found specificially upon the changes of phase in the equilibrium diagram and the different phases present, such as solid solution, chemical compounds (iron silicides), etc. While no extended research was contemplated in the particular study undertaken, nevertheless the data collected proved to be so contradictory in many respects that a simple study of some of the outstanding problems involved in the constitution and equilibrium diagram was undertaken Because research was not a primary object of the work, and also because of the extreme industrial importance of the silicon alloys between 0.80 and 14 per cent. silicon, and finally because of the unsatisfactory state of knowledge existing as to these alloys, the experimental investigation was limited entirely to alloys with less than 10 per cent. silicon.

Jan 1, 1930

By A. Eiders

THE year 1874 marks a decided advance in the metallurgy of the West, in two directions. On the one hand, the technical management has been very materially improved, and on the other, the production has been largely increased over that of the previous year. The technical improvements of greatest importance are the introduction of condensation-chambers, or flues, at several works, and the further treatment of the lead matte produced in the ore smelting. These two are of general importance, and although by no means introduced at the majority of works, their adoption at the few where their great importance has begun to be understood will no doubt bring about their universal introduction. To these may be added a third step. forward, which for some localities is vital enough, though for others it must still remain doubtful whether it is to be regarded as an improvement or not. This is the introduction, at several

Jan 1, 1875

By F. S. McNicholas

IN the first big blast at Climax, a "loop back" (three-wire system) was used (Fig. 1), with the idea of securing a wiring system that would give to all series the same amount of current. Single-phase, 60-cycle, 13,800-volt FIG. 1.-Loop BACK. A THREE-WIRE SYSTEM WITH BRANCHES VARYING IN LENGTH. power was furnished to the blasting transformers, each of which has a rated capacity of 600 amp. at 480 volts. Two blasting leads were taken from these transformers, giving a blasting current of single phase, 60 cycle, 480 volts, with an instantaneous capacity of more than 600 amp. The blasting switch was on the secondary leads from the transformers, to avoid lag in energizing them.

Jan 1, 1938

By F. S. McNicholas

IN the first big blast at Climax, a "loop back" (three-wire system) was used (Fig. I), with the idea of securing a wiring system that would give to all series the same amount of current. Single-phase, 60-cycle, 13,800-volt [ ] power was furnished to the blasting transformers, each of which has a rated capacity of 600 amp. at 480 volts. Two blasting leads were taken from these transformers, giving a blasting current of single phase, 60 cycle, 480 volts, with an instantaneous capacity of more than 600 amp. The blasting switch was on the secondary leads from the transformers, to avoid lag in energizing them.

Jan 1, 1938

By P. LEROY FOSTER

G EOPHYSICAL prospecting was presented in its several aspects and discussed with much vigor at two sessions during this year's annual meeting of the Institute. The first session was devoted entirely to the presentation and discussion of various technical papers, while the second meeting took the form of a round table conference on the advisability of revising the existing mining laws to recognize the results of geophysical prospecting. This conference was immediately followed by further consideration of technical papers. Each session was well attended and great interest was displayed by everyone present.

Jan 1, 1929

By E. D. Gardner

INTRODUCTION OIL shale deposits have been exploited in various countries throughout the world, but generally with government aid. The oil-shale industry of Scotland perhaps is the oldest and best-known; the largest was conducted in Manchuria by the Japanese during World War II as a source of liquid fuels for military uses. In general, foreign oil-shale deposits that have been exploited are much lower grade than those in the western United States. Considerable interest began to be shown in western oil shales in 1916; the peak of activities was in 1923. The Catlin operation, near Elko, Nevada, perhaps was the nearest approach in this country to an oil-shale enterprise on a commercial scale. Over 100 companies were formed, ostensibly for exploiting the oil shale; a large number of them, however, proved to be stock promotions only, which gave the embryo industry a black eye. The Bureau of Mines operated an experimental oil-shale retort plant near Rifle, Colorado, from September 1926 to June 1927 and again from April 1928 to July 1929, after which the plant was dismantled. By this time the East Texas oil fields had come in and the country lost interest in substitute liquid fuels. During World War II the Nation again became concerned about the magnitude of its petroleum reserves. Congress (April1944) directed the Bureau of Mines to build and operate demonstration plants to produce synthetic liquid fuels from coal, oil shales, and agricultural and other products; a five-year program was authorized. As a part of this program the Bureau of Mines has built, at Anvil Points near Rifle, Colorado, a retort plant and developed an experimental mine to supply the plant with oil shale. An important part of the mining work at Rifle is to devise methods and select practices for mining the oil shale on a commercial scale at the lowest practicable cost. The product to be mined has a relatively low value, a fact that must be kept continuously in mind. The combined aim of those in charge of the mining and those in charge of retorting is to demonstrate that the shale oil can be produced at a cost per barrel corresponding to the current quotation for crude petroleum -or at least very close to it. Plans call for an uninterrupted flow of broken oil shale from the face in the mine, through crushers, through the retorts and thence to the disposal dump. The disposal of the spent shale in the Rifle area should present no unusual problem. Mining research has consisted so far of paper studies of the general phases of the problem, determination of the widest span that the roof stone will stand safely unsupported, and drilling problems. Underground development has not proceeded far

Jan 1, 1947

By R. S. Dean

T HE theory of hardening by heat treatment was, as usual, the most actively discussed phase of metal working theory and in spite of the fact that it is now ten years since the dispersion theory was proposed by Messrs. Merica, Waltenberg, and Scott, it still retains a dominating influence. It is being increasingly recognized. however, that in its simplest form, that is, the purely mechanical effect of very fine crystallites distributed through a groundmass, it is distinctly in- adequate. To explain the observed facts we are obliged to assume some well-defined intermediate stage between supercooled solid solution and conglomerate, however fine be the particles of the latter. This intermediate has been inferred by Gaylor and Preston to be "the rejection of the atoms of the dissolved metal from the lattice of the solid solution accompanied by the possible formation of molecules."' Perhaps this may well be designated as the formation of supersaturated solid solution. Some very definite evidence of such an inter- mediate stage has been found in the hardening of steel where it appears that the very hard martensite may be considered as a supersaturated solution of carbon in a iron. The X-ray spectrometry of drastically quenched steel shows a tetragonal lattice whose parameter changes by tempering at 100" until it coincides with the cubic lattice of iron.? The same gradual change of the tetragonal to the cubic lattice has been observed by Sekito when esamining layers on increasing depth below the surface of a quenched carbon steel.

Jan 1, 1930

By L. W. Blau

RESEARCH work in exploration and production was further reduced during 1943 owing, partly, to difficulties in the acquisition of apparatus and, principally, to the exodus of research men to governmental agencies conducting research and to the armed forces.

Jan 1, 1944

By J. F. Myers

AT the Regional meeting in Columbus, Ohio, in September 1949, the authors presented a progress report of the first year's operation with a Hardinge tricone mill in closed circuit with a Dorr hydroscillator. The present report covers our findings on this grinding circuit to January, 1950. In order to clarify our position, the authors wish to state that no invention or discovery is claimed. The Tennessee grinding circuit is simply an engineered arrangement of known equipment arranged to incorporate all of the recognized efficiency factors of comminution as they are known today. As we concluded our first report, it was not clear how effective the Tennessee mode of operation would be on harder ores. The only information we had at that time was that the Bond grindability test at 48-mesh gave 6.04 g of undersize per revolution. A later test on the same sample at 100-mesh reduced this to 2.04 g, which is definitely in the harder ore class, and which makes the reported 8.80 kw-hr per ton of -200-mesh produced a very creditable figure.

Jan 1, 1950

By J. F. Myers, F. M. Lewis

The paper reports the development of a large, slow speed ball mill closed circuited with a hydroscillator. This increased grinding efficiency 28 pct over conventional units.

Jan 6, 1950

By F. W. Schroeder

AT the annual meeting of the Institute 2 years ago, a paper,1 " Requirements of Refractories for Open Hearths," was presented by F. W. Davis and G. A. Bole of the U. S. Bureau of Mines. In a brief foreword, D. A. Lyon stated that the paper was not to report the results obtained but rather to present an outline to serve as a basis for discussion. The essential parts of an open-hearth furnace were described and the conditions under which they operate. Some constructive discussion followed the reading of the paper. One of the first fellowship investigations undertaken by the Bureau of Mines in 1924 under the cooperative agreement with Carnegie Institute of Technology, through the Metallurgical Advisory Board, was to determine service conditions of open-hearth refractories. The present paper gives the results of this work which was done in the Pittsburgh district and was in charge of the authors. Material contributions in the form of data were contributed by E. N. Bauer, J. W. Campbell, G. H. Pfeiffer and A. Grodner, Carnegie Institute of Technology research fellows. The study covered 18 mos.

Jan 7, 1926

By Bjorge, Guy N.

MINING method improve through the gradual process of evolution and in 1340 there were no marked outstanding innovations. On the other hand refinements of detail and betterment: in equipment design continued to progress. Among the most important changes have been the increased application of trucks and highway equipment, including tractors and bull- dozers, to open-pit mining as exemplified by Phelps Dodge's Morenci operations; the Mesabi iron range; and the Tri-State district. Mass or bulk handling contributed its part underground with slurhers and conveyors at Consolidated Coppermines and slushers at Climax; and in open-pit mining. conveyors found increased use on the Mesabi range.

Jan 1, 1941

By Herbert Hoover

BOTH the directors of industry and your leaders have made great progress toward a new and common . ground in economic conceptions, which, I am confident, has had a profound effect upon our economic progress during the last few years. That is the conception that industry must be constantly renovated by scientific research and invention; that labor welcomes those labor-saving devices; that labor gives its full and unrestricted effort to reduce costs by the use of these machines and methods; that the savings from these reduced costs shall be shared among labor, employer and the consumer.

Jan 1, 1930

By Peter G. Tregelles, Derek K. Barham

Introduction A successful step towards mechanisation of the collier's work was taken in 1954 when the first Anderton shearer loader was commissioned in Lancashire, and progress was reinforced in 1956 when the first powered supports were installed in Nottinghamshire. By 1970, virtually 100% of the coalfaces in the United Kingdom were mechanised and the industry's productivity had doubled. In 1961 the National Coal Board recognised that the next move towards greater productivity and improved safety would be to automate the longwall system. What was not well enough understood, however, was that the basic prerequisites of automation - reliability and measurement - had not yet been achieved. Consequently, the schemes for automatic longwall faces and for an entirely automated colliery were abandoned at the close of the decade. A review of mining research and development policy, commissioned by the Board in 1974, confirmed that the system of longwall mining had great potential for investment and that the short-term policy of automation must once again be pursued. Since then, aided by advances in computer technology, systems for automating the transport of coal from the face to the coal preparation plant have been successfully instituted. Applications of sub-systems dealing with the conveyor, coal preparation plant, and various items of fixed plant are now at the exploitation stage. In the medium term, a number of key problems have been identified, which will arise once the productivity from the coalfaces has doubled, as it is now expected to do in the next five years. One of the most important of these problems is machine guidance, and considerable research and development work is now being carried out in this area. This paper reviews the work on machine guidance prior to 1974 and explains the programme on which the National Coal Board's Mining Research and Development Establishment is currently working.

Jan 1, 1981

By David White

ATTENTION has been given to the sources and supply of the raw vegetal matter and. the conditions of its submission to the process of sedimentation. An original and most valuable review has been made of the more important or significant chemical compounds originally contained in the organic debris, and of the biochemical changes-undergone by the latter during deposition. Consideration also has been given to the factors controlling the selective biochemical decomposition, in whole or in part, of :this debris, and the deposition, as, sediments, of the undecomposed plant structures and compounds, together with more or less of the so-called "ulmic," or "humic," organic decomposition products in colloidal solution.1 BIOCHEMICAL CHANGES END IN PEAT FORMATION The biochemical process terminates in the peat stage of coal formation, and with the cessation of this process organic sedimentation is completed. All subsequent changes result from geological causes and conditions. The deposits are in the form of peats of different types, organic muds, oozes, etc. They are essentially uncompressed and are wholly unconsolidated, and their water content is great, amounting to over 85 per cent. near the surface of the deposit. Many of the chemical compounds remain as in the once living organisms; others are biochemically broken down and new ones formed.

Jan 2, 1925

By W. M. Peirce

FOR many years it was considered quite the proper introduction to any discussion of zinc metallurgy to remark that the methods of extracting zinc from its ores were archaic. Often there was an added implication that the industry in every phase savored of the days of alchemy. On rare occasions comments of this sort may still he heard. Fortunately, not only for the zinc industry but for the world at large, there is today no longer a basis for considering zinc metallurgy unprogressive. Progress in any industry is possible along three distinct lines. The methods of production may be improved, thereby reducing costs. In the case of basic materials, this may also have the important effect of increasing potential supply. Second, quality may be improved. Finally, the product may be made more valuable to consumers through increased knowledge of its utilization, thus holding old markets or opening new.

Jan 1, 1931

By Dr. O’Neil Thomas J., Donald W. Gentry

"We can easily represent things as we wish them to be..” -Aesop INTRODUCTION The first eight chapters of this book have primarily addressed the concepts and fundamentals associated with project valuation, particularly as they apply to mining-related projects. Specific emphasis was placed on the engineering and economic parameters and estimates necessary for quantifying line items in pro forma income statements and the subsequent calculation of net annual cash flows. Given these estimates of relative benefits, costs, and annual cash flows for a project, it then becomes necessary to convert these estimates into measures of relative desirability or attractiveness. The criteria and techniques typically utilized to determine project acceptability or desirability are, then, the topics of discussion in this chapter. Before proceeding it may be advantageous to put the problem of project evaluation into proper perspective by reiterating some of the fundamental concepts developed in Chapter 1. The basic premise set forth in this book is that the objective of the firm should be to maximize its value to its owners (stockholders' wealth). This value or wealth is represented by the market price of the firm's common stock; consequently, the primary objective of the firm can be restated as one of maximizing the value (price) of the firm's common stock in the marketplace over the long term. This price, in effect, is an indicator or index of the market's perception of the company's progress and a reflection of the investment, financing, and dividend decisions made by corporate management. These three major decisions are inter- related and jointly impact the market price of the firm's stock. Therefore, if the objective of maximizing the value of the firm to its stockholders is to be achieved, an optimal combination of the three decisions will be necessary. It is important to emphasize that maximizing stockholder wealth is not the same as profit maximization or even the maximization of earnings per share. Corporate managers making decisions based on the objectives of maximizing profits and/or earnings per share must recognize that these objectives do not consider: (I) the timing or duration of expected returns, (2) the business and financial risks of the promised earnings, or (3) the dividend policy of the firm. Obviously all of these factors are of concern to the company's stockholders and will have an effect on the market value or price of the firm's common stock. Maximizing market price per share, or wealth maximization, is therefore the appropriate corporate objective and

Jan 1, 1984

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