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By E. F. Reed

CONSIDERABLE deep hole prospect drilling has been done in the last few years in the Globe-Miami mining district about 70 miles east of Phoenix, Arizona, and in the San Manuel-Tiger area about 50 miles south of the Globe-Miami region. More than 205,000 ft of churn drilling have been completed by the San Manuel Copper Corp. at their property in the Old Hat Mining District in southern Pinal County. The deepest hole on this property is 2850 ft; there are 49 holes deeper than 2000 ft. At the adjoining Houghton property of the Anaconda Copper Mining Co., where only one hole reached 2000-ft depth, there were 27,472 ft of churn drilling and 3436 ft of diamond drilling. Three churn drill holes were deepened by diamond drilling methods. Near Miami in the Globe-Miami district the Amico Mining Corp. drilled four holes by combined churn and rotary drilling methods, the total amounting to 13,879 ft, of which 2256 ft were drilled with a portable rotary rig. In the same district, besides doing a large amount of shallow prospect drilling, the Miami Copper Co. drilled two holes of 2560 and 3787 ft, respectively, which were completed by churn drilling methods. The rocks encountered in drilling at San Manuel and Tiger are described by Steele and Rubly in their paper on the San Manuel Prospect' and by Chapman in a report on the San Manuel Copper Deposit.' The rocks are well-consolidated Gila conglomerate, quartz monzonite, and monzonite porphyry. In some places these formations stand very well while being drilled, and three holes were drilled without casing, the deepest of which was 2200 ft. In other holes faulted and fractured ground made drilling difficult. In the Globe-Miami district the deep drilling was done in the down-faulted block of Gila conglomerate east of the Miami fault and in the underlying Pinal schist. The geology of this area is described by Ranaome. In the Amico holes the conglomerate varied from material consisting entirely of granite boulders and fragments to a rock made up of schist fragments in a sandy matrix; in the Miami Copper Co. holes there were more granite boulders and the material was poorly consolidated. Drilling was much more difficult and expensive in the Miami area than in the San Manuel district, mainly because of the depth of the holes and the formations drilled. All the deep hole prospecting described in this paper was done with portable rigs. The churn drill rigs were of several types, of which the Bucyrus-Erie were the most popular. Bucyrus-Erie 28L, 29W, and 36L rigs were used on some of the deeper holes on the San Manuel property. A few Fort Worth spudder types were tried, and the deepest hole at San Manuel was drilled with a Fort Worth Jumbo H. The spudder type is considerably larger than most other rigs used on this work and required a larger location site. The spudders were belt-driven machines with separate power units, and time required for setting up and moving was much longer than with the more portable drills. All the churn drilling was done by contractors or with machinery leased from them. A few of the contractors had complete equipment, including most of the necessary fishing tools. Unusual and special fishing tools were obtainable from the supply companies in the oil fields of New Mexico or in the Los Angeles area. Most of the contractors used equipment with standard API tool joints, so that much of it was interchangeable. Failure of tool joints is one of the principal causes of fishing jobs. It can be minimized if the joints are kept to the API specifications and the proper sized joints are used in the various holes. The minimum sizes that should be used with various bits are as follows: 12-in. and larger bits, 4x5-in. tool joints; 10-in. bits, 3Y4x41/4-in. tool joints; 8-in. bits, 23/4x 3 3/4-in. tool joints; 6-in. bits, 21/4x31/4-in. tool joints; 4-in. bits, 15/ix25/s-in. tool joints. Two rotary drill rigs were tried at San Manuel on the same hole, and a portable rotary drill rig was used on the Amico drilling for test coring the formation and for drilling in holes 3 and 4. Rotary drilling differs from churn drilling or cable tool drilling in that the bit is revolved by a string of drill pipe and the cuttings are removed from the hole by a thin solution of mud pumped through the drill pipe. The principal parts of a rotary rig are the power unit, a rotating table to revolve the drill pipe, hoists to raise and lower the pipe and to handle casing, and a pumping system to circulate the drilling liquid. The rig used on the Amico property at Miami was mounted on a truck. The larger rig used on the San Manuel property was hauled by several trucks and had separate turntable and pumping units. Diamond drill coring equipment was used successfully with the rotary rig in the holes on the Amico property. To allow for 2-in. drill pipe with tool joints, 31/2-in. core barrels and bits were used. With the standard 31h-in. core barrel there was considerable difficulty in maintaining circulation with mud, so a barrel was designed with a smaller inner tube and a broad-faced bit. This allowed coarser material to circulate between the barrels. Rock bits of 5 to 37/8 in. were used with the rotary rig for drilling between core runs. Diamond drill equipment is much lighter than churn drill tools, so that fishing tools can usually be obtained from supply houses by air express when needed. Three churn drill holes on the Houghton property at Tiger were deepened by diamond drilling with Longyear UG Straitline gasoline-driven machines. The open churn drill hole was cased with 21h-in. black pipe. In deep hole churn drilling, casing is one of the most important items, especially in drilling in un-consolidated material like the formations drilled by

Jan 1, 1953

By Charles H. Fulton

(Cleveland Meeting, October, 1912.) I. INTRODUCTION. THERE are comparatively few accurate data on the melting-or the freezing-point temperature of metallurgical slays, or on related physical phenomena, such as fluidity near the melting-point, specific heat, latent heat, etc. With the exception of the work of H. 0. Hoffman,1 and some older work by R. Akerman, P. Gredt, and H. M. Howe, no information is available that is of direct interest to the metallurgist. Hofman's valuable work is the only one that refers to slags produced in the metallurgy of copper and lead. The classic work of J. H. L. Vogt,2 who views slays from the standpoint of physical mixtures (solutions in which the entities are minerals), has opened up a. new field in the study of slags, and has placed the investigation of such properties as melting-temperatures, etc., on a rational basis. The recent work of A. L. Day, E. T. Allen, and W. P. White, of the Carnegie Institution, at Washington, and of European investigators 3 on certain systems of silicate minerals confirms the value of the investigation of silicate series from this standpoint, and it is my aim to apply this method to metallurgical slaws, in order to gain exact data of value in metallurgy. The work recorded in the present paper is the result of an investigation of reverberatory-furnace slags made for a Western smelting company to determine exactly the influence of change in composition, within comparatively narrow limits, on the melting-point. For a general discussion concerning the mineralogical character of slaws and the principles on which this investigation is based, reference should be made to other work,4 for the subject is too large to be stated in this paper, except very briefly in the following outline 1 Trans., xxix., 682 (1899). 2 Die Silikatschmelzlösungen; I. Ueber die Mineralbildung in Silikatschmelzlösungen; II Ueber die Schmelzpunkt-Erniedrigung der Silikatschmelzlösungen (Christiania, 1903-04). 3 Doelter, Handbuch der Mlineralehevu:e (1911) 4 C. H. Fulton, Principles (of Metallurgy. Chapter viii., on Slags, p. 24.5 (1910).

Dec 1, 1912

By Clyde E. Williams, JAMES L. GREGG

THIS review of the past year's progress in iron and steel metallurgy presents examples of only a few of the interesting or important accomplishments made in the United States. In the field of iron ore concentration increased attention was given to the study of the more difficultly separated wash ores and some progress was made in tabling. One difficulty with the table, in concentrating iron ore where the percentage of concentrate in the feed is large, has been the removal of fine silica from the thick layer .of concentrates in the cleaning zone. One company has -Made an important contribution toward the solution of this problem by an extension of the well-known plateau principle. By a special riffling of the plateau section of the table, the concentrates are crowded together. This action forces the fine silica to the top of the bed in the cleaning zone, whence the cross-flowing currents of water -can wash it into the middling product. Some work has been done on the application of froth flotation to the concentration of iron ores. Laboratory experiments were made at the Colorado School of Mines in which hematite was, successfully floated. Using oleic acid as a frothing and collecting agent and sodium carbonate as the conditioning agent, a high recovery of rich ,concentrate was obtained. A laboratory flotation unit is in use at Taconite, on the Mesabi range, and a commer-

Jan 1, 1932

By William G. Neilson

Edward Nichols died at Dunkirk, N. Y., January 7, 1892, in the forty-second year of his age. In the maturity of his powers, actively employing the strength gained from the experiences of a busy lift., and occupying positions

Jan 1, 1893

UNIVERSITY OF ALABAMA University, Ala Mining and Metalliaigical Society* G L Roberts, President T G Patterson, Vice-President B B Copeland, Treasurer K F Stark, Secretary G T Bator, Faculty Sponsor F H Crockard, Counselor

Jan 1, 1949

THREE regional meetings are planned for this summer and fall following the spring meeting held under the auspices of the Iron and Steel Committee and the Ohio Section at Cleveland in April and in lieu of a general fall meeting of the Institute. Plans for all of them are maturing rapidly. Excellent programs and. interesting visits to points of local tech¬nical interest are already assured. THE SALT LAKE CITY MEETING This meeting will be under the auspices of the Milling Committee and the Utah Section. It will be one of the features of the joint convention held the week of August 22 to 26 with the Western Division of the American Mining Congress. The Congress will be responsible for the general arrangements and for the program on the first day. The following general committees have been appointed:

Jan 7, 1927

By B. R. Palmer, M. C. Fuerstenau

Oxide and silicates respond to flotation with a large number of anionic collectors. These include carboxylates (fatty acids), sulfonates, alkyl sulfates, and certain chelating agents. In contrast to sulfide mineral flotation, relatively long-chained collectors (generally longer than 10 carbons) are required to effect flotation of this group of minerals. The structural formulas of these various anionic collectors are presented in Table 1. Formulas and solubilities of various fatty acids are presented in Table 2. These solubilities are those of the dissolved and undissociated species of the acid, e.g. oleic acid, HOl(aq). Of the compounds listed, oleic acid and abietic acid, which IS a major constituent of talloel, are used most commonly in commercial applications. The usage of these two collectors is related to cost and effectiveness. In addition to their high molecular weights, oleic acid contains a double bond in its hydrocarbon chain, while abietic acid is comprised of aromatic rings containing double bonds. The presence of double bonds increases solubility significantly over that of saturated homologues. Stability of metal-collectors assumes a most significant role in these systems, and the solubility products of various metal carboxylates and sulfonates are listed in Tables 3, 4 and 5. In addition to these properties, strength of the acids of these various anionic collectors is also important. The carboxylic and hydroxamic acids are weak acids whereas sulfonic and alkyl sulfuric acids are strong acids. All of the carboxylic acids fall in the range of pK = 4.7 ± 0.5 ([2]); the pK of hydroxamic acid is around 9 ([3]); and the pK of sulfonic acid is about 1.5 ([4]).

Jan 1, 1976

By W. C. Meyer

In an effort to conserve and extend oil resources, the use of powdered coal-in-oil mixtures (COM) as an alternate fuel in oil-fired boilers is receiving increasing attention. For the approach to be successful, some degree of stability of the suspension against settling is needed. The variety of means available to achieve stability of this nonaqueous slurry is reviewed along with some of the physical and chemical concepts which underlie each method.

Jan 1, 1983

By Tom Westgarth

As papers are placed before you upon large gas-engines in Belgium and Germany, it was considered that some information should be given upon the same subject in Great Britain. I therefore agreed to compile these notes, which I have made very short in view of the somewhat full nature of the other papers presented to this meeting, and considering the complete nature of the many publications which have been made recently upon the subject of large gas-engines. I give below Tables I. to VI., showing the number and particulars of large gas-engines which have been built or are building by British makers, and in view of the growing size of gas-engines I have concluded that engines less than 500 h.p. cannot now be included in the category of large gas-engines, and therefore I have not considered engines under that power.

Nov 1, 1906

By William D. Southard, Joseph W. Schlitt, Bruce P. Ream, Lawrence J. Haug

The operation of Kennecott 's Bingham Canyon copper precipitation plant, one of the world's largest, is described. This description includes a brief historical review of precipitation at Bingham and the general layout and operation of the present cone cementation facility. Current practices are based on results of studies undertaken to define improvements needed in each unit operation. These improvements were required to meet changing plant conditions and were implemented primarily within the constraints of the existing facilities. Specific unit operations included were the cone precipitators, the cone discharge thickener, the cone effluent settling basins, and the plate and frame filter presses. As a result of these improvements, loss of precipitated copper decreased and the degree of precipitation increased, raising copper recovery by 9 t/d. At the same time, iron consumption was reduced by 22.5 t/d. Problems in drying the cement copper were also overcome so that a product containing 12-15% moisture could be consistently delivered for smelting.

Jan 1, 1980

By Ulrich H. Roesler

RECENTLY, C. Zener1 published a new thermo-dynamic treatment of the a/y transformation in iron alloys. His interpretation differs from the previous theories2-0 ainly through the separation of the free energy difference, Ga—G, into two additive

Jan 1, 1957

By Willard P. Ward

SOME TIME in the year 1874 or 1875, I conceived the idea that spiegeleisen might be made -in a blast furnace from ores that were not carbonates, and which did not contain both manganese and iron in the same ore. Up to this time, such ores had formed the basis of all the spiegel that had been produced; and all the ferromanganese that was on the market before 1875 was made in crucibles, and cost about 00 per ton, for 80 per cent. Mn. I consulted the great steel metallurgist of the day, Alexander Holley, who listened attentively to what I had to say, and told me he did not think my plan was practical, so I abandoned it for the time being. But I was so stubborn that I could not get the notion out of my head. It seemed to me that a good metallurgist should be able to work the thing out in some way. I had already had some experience in smelting refractory lead ores in Utah, and was young and not lacking in self confidence, so after waiting a bit, I got Anton Eilers, the best all-around metallurgist I knew, and J. H. Bramwell, the best iron blast-furnace man I knew, both intimate friends of -mine, to come to my place in Bartow County, Georgia, and look over things. They remained for several days, and made all the examination they thought necessary; and they also advised me to give up the project, and either to keep the furnace running on car-wheel iron or to blow it out. After my talk with Holley, I improved my plant in several ways. I closed the top of the furnace, put in a hot-blast stove, a steam boiler and a Weimer blowing-engine which gave me blast enough, at a pressure high enough for all the requirements of, the furnace, and which I could bring up to a temperature of 600° to 700° F.

Jan 1, 1921

By William P. Shinn

It is almost exactly seven years since the last previous meeting of the Institute in this city. In a paper on " Pittsburgh, its Resources and Sorroundings," read at that meeting, I showed that Allegheny County had produced in 1878, " one-twelfth of all the pig-iron,.... two-ninths of all the rolled iron (except rails), over one-eighth of all the Bessemer and open-hearth steel, two-thirds of all the crucible blister and puddled steel, one-fourth of all the glass, one-eighth of all the coal, and one-sixth of all the pig-lead produced in the United States;" and the object of this paper is to show that, great as the record then was, it has been greatly surpassed since.* Population. In my former paper I expressed the opinion that the census of 1880 would show the population of Allegheny County to be in excess of 300,000. The census report made it 355,869. The following shows the growth of the county in population from 1790 to 1880: 1790,...........10,309 1800,........... 15,087 1810,...........25,317 1820,...........34,921 1830,...........50,552 1840.............81,235 1850............138,290 1860............178,881 1870,...........262,204 1880,...........355,869 This makes Allegheny County, in 1880, rank sixth in population of the counties of the United States, whereas in 1870 its rank was ninth. The population of Pittsburgh in 1880 was 156,359, being twelfth

Jan 1, 1886

By AIME AIME

The following changes of address of members have been received at the Secretary's office during the period of Mar. 1 to May 1, 1908. This list, together with the list in Bi-Monthly Bulletin, No. 20, March, 1908, therefore, supplements the annual list of members corrected to Jan. 1, 1908, and brings it up to the date of May 1, 1908. The names of Members who have accepted election during March and April, 1908 (new members), are printed in italics., By a simple method of cutting out these names and addresses, and pasting them directly over the corresponding names in the annual list of members, the record can be kept practically up to date and the value of the list correspondingly increased. For this purpose the changes of address have been printed only on one side of the page. The names of new members, being in italics, are readily distinguished from the others, and can be pasted in approximate alphabetical order on the margins of the pages of the list.

Jan 5, 1908

By Johnston, T. L.

BISMUTH is found as native metal associated with tin, copper, cobalt, silver, gold, or other metals and in a variety of ores. The more important ones are: bismuthinite (bismuth glance), Bi2S3; bismite (bismuth ochre), Bi2O3.3H2O; and bismutite (bismuth carbonate), Bi2O3CO3?H2O. Of lesser importance are the arsenate, telluride, and vanadate. The sulfide is the most common; the others are often oxidation products from this mineral. Bismuth minerals have been found in various places in the United States, principally in Colorado and Utah, but no ores are mined solely for bismuth. In the Granite mining district of Beaver County, Utah, a stratum of limestone about 6 ft. thick has been almost completely replaced by contact minerals in which bismuthinite associated with pyrite and molybdenite was found intergrown with silicate minerals. In the early days a few small lots of ore assaying 7 to 10 per cent bismuth were shipped from this district. Native bismuth has been found in the Clifton and Tintic districts of Utah. Bismuth is produced as a byproduct in the refining of lead, copper, gold and silver ores, it being recovered from the anode mud from the Betts process. Deposits of bismuth minerals exist in Argentina, Aus¬tralia, China, Japan, Germany, Spain, Peru, Bolivia, and Canada, but Bolivia is the principal, producer and could easily supply all of the present world's demand.

Jan 1, 1933

By William Campbell

(Cleveland Meeting, October, 1912.) [SECRETARY'S NOTE.-To avoid repetitions of foot-notes, references to authorities are made in the paper by means of figures, referring to a numbered list in the appendix.-J. S.] I. INTRODUCTION. IN the olden days the making of alloys was au art, and the secrets of the craft were jealously guarded. To-day it has become a science, though the old ideas in regard to the secrets and formula are dying hard. Modern progress may be attributed to scientific research and testing of materials, and the substitution of chemical analytical control for " cook-book " methods. We know to-day a great deal about the constitution of alloys, the reasons of the change in structure and physical properties by heat and mechanical treatment; and this new knowledge is due for the most part to the physical chemist and metallographist, who have shown us that alloys are simply solutions, and as such obey definite laws. The application of the theories of solutions and of the phase rule tells us what ought to happen when our alloys are in a state of equilibrium. The working-out of the temperature-composition diagram (thermal diagram) for numerous alloys has thrown a light on the structure and constitution which has dispelled most of the darkness in which we labored before the advent of metallography. The work began with the determination of the freezing-point curves, and here the research of Le Chatelier,1 Gautier,2 Roberts-Austen,3 and the other pioneers broke the ground. Next the physical chemists, Tammann,4 Rooseboom,5 Bancroft,6 and their colleagues, showed us the complete thermal diagram and its meaning. Then the researches of Heycock and Neville 7 on the Cu-Sn series and of Shepherd 8 on the * Associate Professor of Metallurgy, Columbia University in the City of New York.

Dec 1, 1912

By Che-Yu Li, J. L. Gregg, W. F. Brehm

Oriented, oxygen-doped niobium bicrystals were tested in liquid lithium. The grain boundaries were attacked preferentially. The depth of the penetrated zone varies as (time)2. The penetration was aniso-tropic, had a high activation energy, and increased with the increased oxygen doping level. A possible model was proposed to account for the experimental observations. 1 HE grain boundary penetration of a metallic system by liquid metal has been studied by several investigators. Their results are summarized by Bishop.' Most of these works show that the penetration by liquid metal corresponds to the phenomenon of liquid metal wetting. In the case of a grain boundary, wetting will occur when twice the solid-liquid interfacial tension is smaller than the grain boundary tension resulting in the replacement of the grain boundary by two new solid-liquid interfaces. Other possibilities exist; for example, the atoms of the liquid metal may diffuse into the grain boundary region due to chemical potential gradient. The gradient can be produced by impurity segregation or simply be due to the increase in solubility in the grain boundary region. The penetrated grain boundary in these cases may remain solid at the test temperature. The Nb-Li system has been of considerable interest because of its possible technological applications. For fundamental interest it provides a possibility of studying the grain boundary penetration process which is not controlled by the wetting mechanism. The pure niobium is not attacked by the liquid lithium, but if niobium containing more than 300 to 500 ppm oxygen by weight is exposed to liquid lithium, corrosion occurs at the solid-liquid interface and preferentially at grain boundaries. Previous investigators2-' have proposed that this preferential corrosion at grain boundaries is caused by oxygen segregation there, with subsequent inward diffusion of lithium to form a Li-Nb-0 compound. These investigators also found that the corrosion could be retarded by adding 1 pct Zr to the niobium to precipitate the oxygen as ZrO2 upon proper heat treatment. However, there are no quantitative data on the kinetics of the grain boundary penetration process to test the validity of the proposed corrosion mechanism. In this work an investigation of this penetration process in oriented bicrystals was made as a function of the oxygen doping level in the bulk niobium and the grain boundary orientation. A possible model for the penetration process based on the experimental results was proposed. EXPERIMENTS Oriented niobium bicrystals were grown by arc-zone melting oriented single-crystal seeds.7 These bicrystals contained simple tilt boundary. The [001] directions in the two grains were tilted about a common [110]. The bicrystals were 31/2 in. long and 5 by 4 in. in cross section with the straight, symmetric, planar grain boundary longitudinally bisecting the crystal rod. The bicrystals were doped with oxygen by anodically depositing a layer of Nb2O on the surface in a 70 pct HNO solution at 100 v, using a stainless-steel cathode. The specimens were homogenized by annealing in evacuated quartz tubes at 127 5°C. Oxygen content of the niobium was measured from microhardness values, after DiStefano and Litmman.' Supplementary checks were made with vacuum-fusion analysis.7 Individual test specimens cut from the doped bi-crystal rods, about by by % in. in size, were tested inside double jacket sealed capsules. The inner jacket was niobium, the outer was stainless steel. The niobium inner jacket eliminated the problem of dissimilar-metal mass transfer.' The lithium (99.8 pct pure, obtained from Lithium Corp. of America) was handled only in a purified argon atmosphere in a Blickman stainless-steel glove box. After introduction of lithium, the capsules were sealed by welding. Further detailed experimental procedures are given in Ref. 7. The capsules were heat-treated in vertical Marshall resistance furnaces. Temperatures were controlled to When heating above 1100°C, it was necessary to seal the furnace work tube and flow argon through to prevent failure of the stainless-steel outer jacket of the capsule. Tests were made on 6" 2", 16" 2, and 33" i2" bicrystals at oxygen levels up to 2600 ppm by weight in the 6' and 16" crystals and with 1300 ppm oxygen in the 33' crystals. The oxygen levels were controlled to 100 ppm. Most of the quantitative data were obtained from 16" bicrystals between 800" and 1050°C. The capsules were quenched into water after the test and cut open with a water-cooled abrasive wheel. The capsules were then submerged in water, which dissolved the lithium and freed the specimen. Measurement of the depth of the penetrated zone in the grain boundary was done either on metallographically prepared surfaces or directly on the grain boundary plane after the specimen was fractured in tension in the grain boundary plane. The depth of penetration measured by both methods agreed well. Further details describing these techniques have been reported elsewhere.'p7

Jan 1, 1969

By Robert T. DeGavre

INTRODUCTION The $645 million financing for Inco Ltd's Soroako nickel project in Indonesia not only represents a significant human achievement but also there are certain important lessons that can be derived from Inco's experience in financing the project. The paper will not present a technical assessment of the project since Inco Ltd. submitted a series of papers on this subject at the international Laterite Symposium as part of the 108th Annual Meeting of the AIME in February 1979. BRIEF HISTORY OF THE SOROAKO PROJECT Table 1 summarizes the milestones achieved in the Soroako project and its financing. Exploration Phase A contract of Work was signed on July 27, 1968 by the Republic of Indonesia and F.T. International Nickel Indonesia (P.T. Inco) covering an extensive area of over 25,000 square miles on the two southeastern arms of the island of Sulawesi. The Contract provides that P.T. Inco has the sole responsibility for financing the project and determining the terms on which the financing should be obtained, that P.T. Inco has the right to receive and hold outside of Indonesia foreign exchange revenues and to freely dispose of such revenues, and that Indonesians have the right to purchase up to 20% of the equity of P.T. Inco over a period following start of production. P.T. Inco began field investigations in the Contract Area in August 1968. Preliminary reconnaissance sampling with portable drills broadly outlined areas of favorable laterite terrain which were then systematically sampled on surveyed grids. By early 1971 sufficient exploration work had been completed to indicate that the laterite deposits near Soroako could sustain a major nickel-producing plant (figure 1). Pilot plant studies in 1970 and 1971 at Inco's research station in Port Colborne, Ontario, using two bulk samples of Soroako ore material, also confirmed that the ore could be upgraded and treated for the recovery of its metal values. Feasibility Phase Encouraged by the results of its exploration program and pilot-plant work, Inco Ltd. commissioned Toyo Engineering Company of Japan in August 1971 to prepare a capital cost estimate for a relatively small nickel project called "Stage I". Stage I was to be a single-line pyrometallurqical process plant with an annual capacity of approximately 15,000 metric tons of nickel contained in 75% nickel sulphide matte (see Figure 2). Electric power was to be supplied by a thermal power station. It is important to recognize that Inco's strategy was to develop the Soroako ore deposits in several stages: first, construct a small project to gain experience and to reduce the initial capital outlay and then later expand in one or more steps to a much larger project to achieve maximum economies. The strategy reflected both Inco's financial position in 1971 as its sales and earning dropped sharply and the difficulties previously experienced by Inco in trying to launch in the late 1960's very large "greenfield" nickel projects in New Caledonia and Guatemala. Toyo's Project Development Study was completed. in January 1972. Based upon Toyo's cost estimate for physical facilities, Inco estimated the total capital cost of Stage I to be $115 million. For the next several months, Inco ran numerous in-house financial feasibility studies, using as inputs Toyo's cost estimate and the results of its exploration and pilot plant programs. In September 1972, Inco completed a project feasibility study which was based upon a capital cost estimate of $135 million. The feasibility study was immediately made available to potential partners and lenders. Partner Negotiations The Japanese nickel market had from the outset been central to Inco's planning for the Soroako project. That market had been growing dramatically at rates in excess of 20% per annum during the 1950's and 1960's. Japan had established, for rational security and other reasons, a domestic

Jan 1, 1985

OFFICERS AND COMMITTEES C C Long, President John Chipman, Past President J S Smart, Jr, Vice President T D Jones, Treasurer R W Shearman, Secretary AIME, 29 West 39th Street New York 18, N Y D C Johnston, Assistant Secretary

Jan 1, 1960

Vice-Chairmen GEORGE D. BARRON, PHILIP N. MOORE, EDWARD H. BENJAMIN, ROBERT H. RICHARDS, FRED H. BOSTWICK, MILNOR ROBERTS. ELI T. CONNER, CARL SCHOLZ. C. R. CORNING, WILLIAM WRAITH, WALTER DOUGLAS, THOMAS T. READ, Secretary, Woolworth Bldg.. New York, N. Y.

Jan 1, 1917