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By Ward W. Minkler

Since 1978, the titanium metals industry, throughout the non-socialist world, has experienced a period of growth and prosperity unparalleled since the late 1950s. Sponge producers, melters and mill product manufacturers have operated at capacity, record shipments have been attained, new producers have entered the industry and established producers have implemented expansion plans. However, there is now mounting evidence that the underlying elements which generated this vigorous surge have abated, at least temporarily. It now appears that in 1982, the industry will encounter overcapacity, excessive inventory accumulations and the probability of declining prices. Therefore, it does seem appropriate that we now take inventory of the present and future markets for titanium with the hope we can identify both near term opportunities as well as challenges the industry now faces. If we view the development of titanium markets as a function of time, they fit rather neatly into three sectors.

Jan 1, 1982

For $100 a month plus expenses, Thomas A. Edison in 1879 hired a colorful adventurer named Frank McLaughlin to go west as a prospector. A few months later, McLaughlin triumphantly returned to the inventor's laboratory in Menlo Park, N. J. "On his shirt bosom and fingers sparkled glittering stones," recalled one of Edison's associates. These were only the tangible parts of his new trappings. In addition, McLaughlin "now wore the title of major which he acquired somewhere west of Omaha."

Jan 10, 1961

By Reaves. M. J.

The title of my talk, "What Happened to the Uranium Boom?" is old news. Certainly it is for this group. All of us that make our living in uranium know that the boom of the last half of the 1970's is over. U.S. production has been exceeding consumption by more than two to one. Mines and mills are closing and yellowcake prices have been dropping for over 20 months. The gloomy outlook for the industry in the near term has been well documented by soothsayers of various descriptions, your daily newspapers, and in the Nuexco Monthly Reports. I'd like to attempt to describe the next upturn in the market (speculate, really) based upon the clues we're seeing now. In order to do that, I'd first like to go over briefly, some of the market factors that contributed to the recent price drop and resultant production cutbacks, and then hypothesize on the way these factors are changing and will change. Market prices are greatly affected (maybe even entirely determined) by buyer perceptions. This is particularly true with uranium, because of the long lead times associated with nuclear plant construction and also with conventional mine/mill development. Before the price rise (say, 1975) utility uranium buyers believed that: 1) U.S. producers would have difficulty expanding to meet U.S. demand. 2) Australian and Canadian production was essential to avoid shortages in the early 1980's. 3) Uranlum prices would continue to rise as demand exceeded supply. 4) Enrichment capacity would become inadequate. It was thought necessary, therefore, to build enriched inventory in the early 1980's for use in the late 1980's. Artificially accelerated expansion of the uranium producer industry was necessary to accommodate anticipated enrichment demand. Current perceptions are largely the opposite. These are the beliefs that were held most of this year and late last year as prices dropped. 1) U.S. production is far in excess of domestic need. Contraction of the U.S. production lndustry is necessary. 2) Canadian and Australian supply is optional and not essential. Producers in those countries are expanding mainly by displacing higher cost production and not because they fill a void, 3) Prices may be essentially stable for some time. 4) Enriched uranium is in excess supply. That is 1981. 1982 is shaping up to look like this: 1) Prices will have bottomed out. (That is not Nuexco's opinion necessarily, by the way, but it is my opinion.) 2) There will still be substantial utility inventories, but fewer spot sales. 3) Canadian and perhaps Australian sellers will have made substantial sales in the U.S. and will be aggressively seeking more. 4) U.S. production will have been dramatically curtailed. U.S. utilities that wish to con- tract long term will have difficulty in finding domestic sellers. Concern will develop about the availability of U.S. production capability. Virtually all long term con- tracts signed will be with non-U.S. sellers. 5) An awareness will begin to develop among U.S. buyers that we are approaching a period of dependence upon foreign uranium (which will be true). The history of the uranium market has been one of dramatic changes and overreaction to those changes. The rapid price rise of a few years ago generated excess U.S. production capacity and the rapid price drop of the last two years will almost certainly result in too little capacity. It will soon be difficult for U.S. buyers to buy domestic material except on the spot market. The question is, "will they care?" The lack of demand, of course, is the underlying reason for the current poor health of the uranium industry. In 1972, 1973 and 1974 collectively, there were 105 nuclear reactors ordered in the U.S. That ordering rate was expected to continue and accelerate throughout this century. In 1975, 1976, 1977, 1978, 1979, and 1980 altogether, there were 56 more reactors cancelled than ordered. The net growth of our only customer since 1974 has been a negative 56. TO put this in perspective, if these 56 reactors were operating now it would more than double present U.S. uranium consumption. Underlying lack of demand is something that is simply not going to change in this decade. Time is going to be required. The NRC indicates that the maximum feasible number of new reactors that can be licensed each year is six. That would increase uranium consumption by only 10% per year. New reactors, if ordered tomorrow, would not generate new uranium demand until after 1990. Even so, United States' consumption of uranium will rise from the 1980 level of 18 million pounds per year, to

Jan 1, 1982

"World Mining and Metals Technology" is the title of this year's SME-AIME Fall Meeting and Exhibit in Denver, Sept. 1-3, where a record number of exhibits are scheduled for display. The international theme is particularly appropriate, for in addition to the annual SME session, the Third MMIJ-AIME Joint Meeting will be held.

Jan 8, 1976

Robe River is ready to go. After seven years of extensive drilling, sampling, pilot plant studies, negotiations with Japan and Australia and agonizing ups-and-downs in financing, this $300 million iron ore project in Western Australia is all set to rush project development to the production stage. Preliminary engineering completed, the combined efforts of Japanese, U.S. and Australian mining concerns will proceed with construction of the project's mining, processing, pelletizing and shipping facilities.

Jan 1, 1970

By Lester F. Engle

Books have been written, complex charts drawn, great batches of punched cards handled by ever increasing numbers of computers, and innumerable meetings held-all for the purpose of making effective the ultimate objective of new, revised or improved process facilities. It is to the credit of management, engineers, and others that in the vast majority of cases, the outcome of their work has been technically sound and economically rewarding. There is a way, however, to insure even better results.

Jan 5, 1966

By Robert Glass Cleland

Anson G. Phelps 1834-1853 Anson G. Phelps, Jr. 1839-1858 Charles C. Dodge 1864-1878 Daniel James 1834-1878 [ ]

Jan 1, 1952

By G. M. Ritcey

Sulphuric acid leaching has been up to the present, the most popular of the leaching routes. Oxide ores are usually leached with sulphuric acid directly by dump leaching, as practiced at the Bagdad or Bluebird Mines in Arizona, or by vat leaching as done at Inspiration Mining in Arizona. Upgrading of the low-grade oxide ores by dump leaching followed by cementation of the copper from solution by scrap iron has been replaced by the leaching-solvent extraction-electrowinning route which results in a high purity product at the mill site at reduced production costs compared to previous practice. High-grade oxide ores, vat leached with H2SO4, can contain, for example, 25 g Cu/l and 25 g H2S04/,l, or higher concentrations of both, and are presently fed directly to electrorefining plants. Advantages of coupling solvent extraction-electrowinning with the low cost dump leaching instead of using cementation, are as follows (1): a) the production of high purity electrolytic copper rather than cement copper;

Jan 1, 1978

By John S. Brown

The northeastern United States embraces that area of the Appalachian Mountains, and adjacent territory, beginning on the south at the Potomac River. It thus extends from the flat-lying Paleozoic terrane of the Appalachian plateau on the west, across the folded Paleozoics of the Great Valley and adjacent ridges (Paleozoic and Precambrian), over the Piedmont and New England metamorphic complex (mixed Paleozoic and igenous rocks), broken by the great Triassic rift remnants, onto the subdued coastal plain of Cretaceous and Tertiary sediments. Although not noted as a metal mining region, the area does contain numerous substantial and several outstanding mines, chiefly of the more prosaic metals, particularly iron, zinc, and copper, as well as many minor occurrences of these and a few additional items. These deposits occur to some extent in every subdivision of the area. The region to date (1966) has produced almost 500,000,000 tons of medium to lowgrade iron ore, especially magnetite, including ilmenitic magnetite; 50,000,000 tons of highgrade zinc ore; and 5,000,000 tons of lowgrade copper. In the past, it has yielded small amounts of chromite and nickel, and at present is a large producer of titanium. Precious metals are conspicuously absent, and so also are the Tertiary or Mesozoic igneous phenomena so commonly associated with mines of the West. Hence, a survey of the extensive mineralization · of this region should be instructive

Jan 1, 1968

By Robert Glass Cleland

[PHELPS DODGE CORPORATION WESTERN GENERAL OFFICES Douglas, Arizona MORENCI BRANCH Mines Morenci, Arizona Concentrator Plantsite (Morenci), Arizona Smelter Plantsite (Morenci), Arizona]

Jan 1, 1952

By Edgar L. Weinberg, W. Horatio Brown

The Austinville-Ivanhoe lead-zinc deposit occurs in the Lower Cambrian Shady dolomite. This deposit is located in southwestern Virginia in the faulted and folded Appalachian Valley and Ridge province. The ore bodies resemble the chimmey and manto deposits of northern Mexico and are formed by replacement and filling. They are confined to certain favorable zones of the Austinville and Ribbon members of the Shady. Structural and stratigraphic factors combine to control the location and form of the ore bodies. In certain places secondary oxide enrichment of the zinc minerals has contributed to the economic development of the area. It is concluded that the ore is epigenetic and is deposited by hydrothermal solutions rising through the fault "plumbing." Classification is epithermal-telethermal.

Jan 1, 1968

By B. Trenary, D. D. McNaughton, C. D. Baer

High capacity off-highway haulage trucks equipped with electric wheel drives have been available for commercial applications since 1963 and, although still interesting to study, cannot be considered as a "new" type of equipment any longer. However, the electric wheel drive components which played a key role in the development of these trucks has indirectly led to another new trucking development-the gas turbine engine for off -highway vehicles. Although most of the production models of the electric-wheel haulage trucks are equipped with 700 hp engines (the largest production engine commonly available), the electric drive components of the motorized wheel were designed to transmit more than 700 hp. To utilize this added potential, 1000-hp class diesel engines are in the process of being developed, but progress has been much slower than expected. The delay has caused some engineering thoughts to concentrate on the adaptation of the 1000-hp gas turbine engines, originally designed for aircraft applications, for use in haulage trucks. The question in most minds centered around the ability of such an engine to withstand the tough usage expected of it in an open pit.

Jan 5, 1967

Schedule of Events

Jan 1, 1977

By Robert Glass Cleland

[PRODUCTION Copper Lead Zinc Silver Gold Year M Pounds M Pounds M Pounds M Ounces Ounce 1882 1883 18841 ,m 2,820 2,750]

Jan 1, 1952

By Thomas A. Simpson, Tunstall R. Gray

The Birmingham district first produced steel from Alabama hematite ores in 1899. Since then, the district generally produced more than 6.0 million gross tons of ore a year to the late 1950's. Production has declined since then to an annual rate of about 1.5 million gross tons. Reserves calculated for the district are sufficient to last many years. Mining in the district is now confined to Woodward Iron Company's Vance and Pyne mines. The rocks exposed consist of about 15,000 feet of consolidated Paleozoic sediments with a thin veneer of unconsolidated Cretaceous sediments in the Vance area. The district is characterized by a distinctively parallel and subparallel, slightly arcuate series of faults and joint systems. In view of available information, it seems reasonable to conclude that the Birmingham red ores are of sedimentary origin, modified to a small extent by diagenetic replacement after original deposition.

Jan 1, 1968

By Robert Glass Cleland

[NUMBER OF STOCKHOLDERS AT END OF YEAR NUMBER OF EMPLOYEES AT END OF YEAR DOLLAR VOLUME OF BUSINESS Number of Number of Dollar stockholders employees volume Year at end of year at end of year of business 1909 133 7,000 $ 25,000,000 1917 535 8,800 62,262,000]

Jan 1, 1952

By Maurice Magee

The Ducktown ore deposits have been known, explored, and mined for 120 years. Eight massive sulfide ore bodies occur in highly folded and metamorphosed graywacke, graywacke conglomerate, mica schist, chloritegarnet schist, and staurolite schist of Precambrian age. The ore deposits are tabular bodies that have been extensively folded, generally conform to the enclosing rocks, but show local complex differences. The ore deposits, ranging in size from 250,000 tons to over 20 million tons, are composed principally of the minerals pyrrhotite, pyrite, chalcopyrite, sphalerite, and magnetite. Gangue minerals are quartz, calcite, actinolite, tremolite, hornblende, garnet, and masses of schistose wall- rock. Three fault systems are present that have influenced ore control and ore body configuration. Hydrothermal effects are evident in wall-rock alteration. Evidence of retrograde metamorphism is extensive in the wall and ore associated rock. Preliminary isotopic age dates have indicated four possible metamorphic events during the Paleozoic Era. Ore genesis is considered to be hydrothermal replacement of receptive beds, predominantly highly calcareous zones, quartzitic zones, and brecciated shear zones. Ore deposition is thought to have occurred during the Devonian Period, with later mobilization and recrystallization of the ore and gangue during Middle and Late Paleozoic times.

Jan 1, 1968

By Robert Glass Cleland

[CAPITAL EXPENDITURES TWENTY YEARS, 1934-1950 Morenci Branch $ 67,261,000 New Cornelia Branch 24,677,000 Copper Queen Branch 7,766,000 United Verde Branch 11,037,000 Miscellaneous Total Mining Division Refining Division 5,584,000 Fabricating Division 17,032,000 Total Capital Expenditures $135,823300]

Jan 1, 1952

By Johnson Crawford, Alan H. Hoagland

Zinc mining at Jefferson City began in 1854 with small scale production of oxidized ore from open pits. Significant production began in 1913 with the development of the Mascot Mine by the American Zinc Company. In 1965, four flotation mills were treating crude ore at the rate of about 12,000 tons per day and the Mascot-Jefferson City district currently is the largest zinc producing area in the United States. The producing mines, Mascot, Young, North Friends Station, New Market Zinc, Grasselli, Davis-Bible, Coy, and the Jefferson City, are 15 to 28 miles northeast of Knoxville in the Valley and Ridge physiographic province, an area of gentle relief lying between the more rugged Great Smoky Mountains and the Cumberland escarpment. The ore is strata bound, occurring essentially within a stratigraphic range of 200 feet in the Lower Kingsport and Upper Longview formations of Lower Ordovician age. In the lower strata of the mineralized section, the ore generally is found in coarsely crystalline elastic dolomite breccia containing silica and chert debris within a sequence of aphanitic limestones. The upper strata of the mineralized section are fine-grained primary dolomites that, in the ore zones, have been fragmented in mosaic patterns by solution collapse with the interfragmental space filled by white gangue dolomite and sphalerite. The mineralogy is unusually simple, sphalerite being the only important sulfide. Pyrite is very sparse. Dolomite gangue is abundant, silica was deposited in quite small amounts, calcite is minor, and fluorite and barite are very rare. The principal ore controlling structures are rubble breccia zones that were formed during the post-Lower Ordovician-pre-Middle Ordovician erosion interval by supergene solution as a phase of the development of a regional karst system of underground drainage that extended to' depths of at least 800 feet. The major Appalachian orogenic structures are post-ore and have been superimposed on the ore bodies. There is substantial evidence to support the current thinking of the writers that the ore deposits were formed at a depth not exc1~eding 800 feet.

Jan 1, 1968

By AIME AIME

THE 131st meeting of the American Institute of Mining and Metallurgical Engineers was held in New York on Feb. 16 to 20, 1925, with the largest registration of any previous meeting, the total being 1320 compared to 1276 in 1924. The technical sessions were more largely attended and aroused more discussion than ever before. There were joint meetings with the Mining Section of the National Safety Council, under the auspices of the Industrial Relations Committee of the Institute and two very important lectures, the Howe Memorial Lecture, under the auspices of the Iron and Steel Committee, and the lecture by Dr. Carl Benedicks, of Sweden, on Corrosion, under the auspices of the Institute of Metals Division. The Petroleum Division conducted its annual Symposium on Oil which will be published later in book form. At the annual business meeting on Feb. 17, the following ticket was elected, and the reports of the President, Treasurer, and Secretary 'were presented:

Jan 1, 1925