Search Documents

By Spooner H. W

The paper describes the search for mineral deposits in an area of 4,500 sq. miles of south-west Tasmania. The area is one of difficult access and the problem of speedy movement and maintenance of field parties was solved by the use of helicopters. The programme has followed a systematic pattern of the aerial photography of the exploration area with the preparation of photQmosaics and topographical base sheets from these mosaics. Geological maps were initially prepared by photogeological interpretation and making use where possible of pre-existing information. The maps produced were later checked by ground traverses. Geophysical maps were obtained by the use of airborne magnetic, electromagnetic and radiometric methods. Geophysical and geological anomalies were checked on the ground by a campaign using ground geophysical equipment in the former case and geological and geochemical work in both instances. Audio Frequency Magnetic and Induced Polarization techniques were used in an area which was covered by several hundred feet of Tertiary sediments.The campaign has reached the stage of the drilling of specific targets.INTRODUCTIONThis paper describes the activities of Lyell-E.Z. Explorations (L.E.E.), an organization which was formed in 1956 by the Mt. Lyell Mining and Railway Co. Ltd. and the Electrolytic Zinc Co. of Australasia Ltd. to explore for mineral deposits in an area of approximately 4,500 sq. miles in southwest and southern Tasmania. To provide the necessary personnel and equipment for this project the exploration resources of both Companies were pooled and augmented and a headquarters was established in Queenstown. The work was directed by a Committee of four made up of officials from both Companies; a review of this structure has recently been presented by Hall (1959).

Jan 1, 1960

By D. R. Dollnar

At a mine in central PA, high horizontal stresses have caused long running roof falls resulting in hazardous conditions for the miners and the premature abandonment of panels. Because of these conditions, the mine requested assistance of the National Institute for Occupational Safety and Health (NIOSH) in utilizing the 'advance and relieve method to mitigate the affects of horizontal stress on the mine roof. "Advance and relieve" mining involves the removal of a pillar or a portion of a pillar during development, thereby creating a cave along one side of the panel. Following cave development, the horizontal stress is relieved over the workings adjacent to the cave in the active panel. The mine has used this system in three panels with a significant reduction in stress damage and no large roof falls.

Jan 1, 2002

By R. Kanniganti

The primary problems of pillar design in seams subject to interaction are due not only to difficulties in predicting loading, but also to the often unsymmetrical nature of the stress fields. The effects of uneven stress fields on failure patterns within a pillar were studied wing a two dimensional finite element method. Lower seams, including ultra- close mining situations were evaluated considering conventional pillars. Pillar case study data for under mining were analyzed to determine if empirical trends in stable pillar sizing could be derived. Recommendations for multi-seam pillar design are made, based on anticipated loading conditions within a pressure bulb. Applications of the research results are demonstrated using case studies

Jan 1, 1995

By M. Tarvainen

"Lately, the development work in closed circuit grinding has mainly been focused on mills and on different types of instrumentation, mathematical models and automation in spite of the fact that the poor efficiency of the classifier is well known. It has also been proven by several investigations that by improving the sharpness of classifier separation, remarkable technical and economical advantages can be achieved. Some attempts to improve the performance of the most common classifier, hydrocyclone, have been made, among them injection of wash water above the spigot cyclone and retreatment of either or both of the products of the primary classifier. No method has been successful enough to achieve general adoption in the industry. The purpose of this paper is to introduce some industrial results achieved by two-stage classification where the coarse product of the turbulent-flow classifier, hydrocyclone, is cleaned in a laminar-flow cone classifier.The main target of the adoption of the two-stage classification circuit it naturally to improve the sharpness of size separation. This again leads to the following advantages in the grinding process:- lower circulating load and increased capacity- lower energy consumptionnarrower size distribution in the fine product- less overgrinding and less slimes- reduced specific surface areaThese improvements, no doubt, reflect on the subsequent concentrating process in the following aspects:the rate of flotation is improved, less reagents and energy is neededthe recovery and grade of valuable minerals in concentrates is improved- savings in dewatering can be expected- less fines in tailings improve the conditions for water recirculation."

Jan 1, 1980

By Paul Meadows

This Bureau of Mines report presents operating practices and results of pressure maintenance and secondary recovery by water injection or by water injection supplemented by gas injection. Particular emphasis is placed on the results of water injection, which is the principal oil-recovery method employed in projects covered by this report. No attempt is made to study gas-injection projects or operations that are considered water-disposal projects. Also, this report does not include water-injection projects that have not been in operation long enough to evaluate results. Figure 1 is a map of north Louisiana showing the geographical locations of the projects included in this report. Most of the data used in this study were supplied by unit operators, operating companies, and the Louisiana Department of Conservation. Reservoir information and recovery data are generally those supplied by the operators, but include revisions where deemed necessary.

Jan 1, 1962

By M F. Jennings, N J. Corlis, B J. Thomas, L N. Tylkowski, A E. Petts, G D. McDonald

Flinders Mines is an iron ore explorer and developer with a tenement package located in the Hamersley Ranges region of Western Australia, approximately 70 km north of Tom Price. Exploration over the past five years has identified a Global Resource in excess of 900 Mt at a grade of 55.2 per cent Fe (+50 per cent Fe cut-off). This resource is spread across multiple deposits and has been divided into a number of mineralisation type domains. These domains are comprised of transported hematite rich detrital iron deposits (DID) and goethite dominant channel iron deposits (CID) as well as in situ bedded iron deposits (BID). The BID at PIOP is low in alumina and silica with a high calcined iron content making it an attractive exploration target. BID exploration techniques include a combination of mapping, structural analysis, downhole gamma logging and 3D geological modelling. Relationships identified between existing BID mineralisation, geology and structure has aided in targeting additional mineralisation across the tenement and highlighted other previously untested areas that warrant further investigation.CITATION:Tylkowski, L N, Corlis, N J, McDonald, G D, Petts, A E, Jennings, M F and Thomas, B J, 2013. The hunt for hydrous bedded iron deposits - an investigation into Flinders MinesÆ Blacksmith Tenement, in Proceedings Iron Ore 2013 , pp 121-126 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 12, 2013

By Frank P. Frandina

The Heartland Corridor Clearance Improvement Project is part of a regional Public-Private initiative to allow double stack container trains a direct route from the Port of Norfolk through Virginia, West Virginia, Eastern Kentucky and into Central Ohio. The project involves clearance improvements to twenty-eight tunnels, twenty-one of which require structural modification. With construction of the first Package of tunnels just underway at press time, this paper summarizes the program implementation from design through the initial stages of construction.

Jan 1, 2008

By C Simpson

The Pilbara region of Western Australia is well known for its abundant exports of hematite-goethite deposits, which have been mined and exported since the 1960s. Magnetite has also been mined in Australia throughout this period, although historically of much lower production volumes (WA Iron Ore profile, 2016). Magnetite offers a source supply of material >66 per cent iron grade product, which is used as premium feed (predominantly pellets) to blast furnaces or specialised steel mills.The Iron Bridge project area contains outcropping magnetite and hematite banded iron formation (BIF), which within the region was recognised as having potential to host economic mineralisation during the 1960s. Development within the project area, however, did not commence until Fortescue Metals Group acquired the tenements based on a 2004 agreement, formed a joint venture with interested groups and then initiated an assessment for magnetite (rather than hematite) mining potential. The combined deposits now have an identified large mineral resource inventory, with test work demonstrating they are able to produce a magnetite concentrate of greater than 66 per cent Fe over an extended mine life. This concentrate would be suitable for forming pellets or feed for direct reduced iron products.The deposits form a singular orebody, approximately 12 km in length by 1 km in width and extending to depths beyond 600 m. The four main deposits are geographically separate and have subtle mineralogical differences, thought driven by the degree of deformation and alteration within each area.Definition of the stratigraphy, structure and key mineralogy of the deposits has been carried out through several stages of exploration and project development. This has also included recent mining and processing of more than 1 Mt of feed material to an on-site processing facility. This demonstrated at a production scale that dry plus wet processing techniques can efficiently separate the magnetite from the gangue minerals to form a suitable (marketable) product.Geometallurgical classification of the host stratigraphy has been carried out from analysing the high volume of quantitative data available for this deposit. This has allowed definition of mappable units within the fresh BIF to be used as a driver in mine scheduling, delivering optimal feed to the processing plant.Construction of mine and processing facilities is expected to commence once all technical risks have been addressed, market conditions are deemed appropriate and approval is given by the joint venture partners.CITATION:Simpson, C, 2017. The Iron Bridge magnetite deposits, in Proceedings Iron Ore 2017, pp 287–294 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By Richards S. M

The abundances and abundance relationships of lead, zinc, copper and silver in the major sulphide lenses at Broken Hill are examined, and their possible geochemical significance discussed.When expressed as atoms per cent, zinc is the most abundant base metal throughout the whole .group of orebodies, the highest average lead: zinc ratio (No. 2 lens) being about 0·45, the lowest (No. 1 lensZinc Lode group) being in the 0·12-0 ·14 range. Lead and silver are clearly higher in the lower two orebodies, but the abundance of zinc shows no apparent relationship with stratigraphical position. Among the base metals copper is conspicuously low and remarkably uniform, a feature noted in other conformable orebodies.Although, as has been recognised for many years, abundances of silver and lead, and lead and zinc, are sympathetically related, correlation within the pairs is variable and generally of low degree. Silver and lead show distinctly the better correlation, particularly in No. 3 lens. On the basis of lead: zinc ratios, No. 2' and No. 3· lenses, on the one hand, and the No. 1 lenses, Rhodonitic and Siliceous Zinc Lodes on the other, constitute two groups. However on the basis of silver : lead ratios, No. 3 lens stands alone, No. 2 lens showing clear affinities with the higher layers. Ternary relationships between copper-zinc-Iead and silver-zinc-Iead emphasize the very close constitutional relationship between the No. 1 lenses and the two "zinc lodes".The possible implications of these relationships are then discussed in the light of the' two principal theories-hydrothermal replacement or chemical sedimentation-held for the formation of the Broken Hill ores. It is pointed out that the ratios of the four metals in the ores are rather different from those found in most igneous and sedimentary rocks, and in seawater. For 'example, whereas copper and zinc are present in almost equal amounts in most terrestrial materials, copper in the ores is only about one-hundredth of the amount of zinc. Lead has increased somewhat, but the ratio of silver to lead has fallen; in spite of its recognition as a source of silver, the Broken Hill lode is impoverished in silver with respect to lead as compared with most common terrestrial materials.No solutions are offered to these prob'lems of abundance. Rather it has been the aim of the work to provide data, and to demonstrate the...

Jan 1, 1961

By V N. Rudashevsky, F Melcher, J Lodziak, D Klosa, N S. Rudashevsky, M Sitnikova, L Gast

A combination of novel and æclassicÆ methods, namely electric pulse disaggregation (EPD), hydroseparation (HS), preparation of monolayer polished sections, and mineral liberation analysis (MLA) was employed to study ores from platinum pipes (Bushveld Complex, South Africa), pristine PGE mineralisation of the Main Sulfide Zone (Great Dyke, Zimbabwe), as well as ancient and modern gold/PGM placer deposits. It is shown here that the EPD technique liberates mineral grains of interest without any visible destruction allowing the study and analysis of individual rock-forming and ore minerals, in our case especially platinum-group minerals. The HS method is an effective tool in concentrating heavy minerals by factors up to 10 000 fold. As near-total recovery of grains >10 ¦m is achieved, the nugget effect can be overcome also in case of limited availability of samples (drill core, museum specimens). The MLA technique is a fast tool to detect and characterise mineral phases in ores and ore processing products. Many mineralogical parameters of individual grains and mineral assemblages can be deducted and documented. The results show that the techniques employed, either on their own or in combination, provide a wide range of additional information especially on platinum ores which is beneficial to both the researcher and the metallurgist.

Jan 1, 2008

This publication summarizes, for potential contractors and other interested parties, the research, development, and demonstration contract projects programed by the Bureau of Mines for fiscal year 1979 (October 1, 1978-September 30, 1979) under its Mine Health and Safety Research program. The objective of these projects is to provide an ordered and sequenced series of advances toward the Bureau's overall goal of providing the system technology required to create a healthier and safer working environment for the Nation's miners.

Jan 1, 1979

By R. M. Cooper, H. K. Herbert, D. N. Phillips

A study was carried out to determine the effects of adding CaCO3, Fe, Al and CaSi2 to the ladle, rather than to the raw materials, in order to increase the concentration of Ca, Fe and Al in the final product to meet customer specifications at Simcoa's Kemerton plant in Western Australia. LA-ICP-MS, SEM-EDXRA and ICP-AES analysis of samples and controls showed that the technique is suitable for controlling minor element concentrations. Iron was successfully added, while calcium silicide with aluminium proved better than limestone with aluminium for controlling Ca and Al concentrations in the silicon

Jun 19, 1905

By G. L. Oldwright, F. K. Shelton, W. E. Keck

"INTRODUCTION Zinc must be of high grade to satisfy the present demand. Even when the amount of premium paid is small, the purer metal as the buyers' preference. The following specifications for spelter were taken from the American Society for Testing Materials for 1927, Part I, pane 524. (The specifications for 1930, p. 582, are tile same.)Another specification for zinc of a much higher grade than any of the above has been established lately by the same society. The committee on zinc die-casting (Proc. Am. Soc. Test. Mat., vol. 31, 1931, p. 263) reached the following, conclusions: I. ""That the purest of zinc is necessary to produce stable zinc-base die castings, and as a result requested specifications for zinc spelter .with total impurities not over 0.02 percent."" Their tests showed that the die castings made of the purest zinc had the least elongation and the greatest tensile strength, and exhibited the least changes with temperature.Still more far-reaching claims are made for the properties of zinc containing over 99.99 percent metal. Zinc foil, for instance, may someday be made as a common commercial product. It would seem likely that the demand for zinc of high grades rill continue and that even purer varieties may be desired. This demand fits in with the modern trend in manufacturing plants of reducing the number of variables to a minimum by using pure materials, and of controlling the processing of metals during their various stages of fabrication by mechanical means instead of by expert laborers."

Jun 1, 1933

Notwithstanding full concurrence with the dictum of a famous scientist that "definitions are the most accursed of all things on the face of the earth," in view of the considerable confusion which exists in jigging nomenclature, it is considered advisable to commence this paper with the following explanations of the terms which will be used throughout the text.Jig Bed. The whole layer of material lying on top of the jig screen.Ragging. The layer of denser material lying immediately above the jig screen, which is too coarse to pass through this screen and is confined horizontally by the cells of the top grid.Ore Column. The layer of ore pulp between the ragging and the top-water.Top Water. The water, carrying fine material in suspension, which flOiWS over the surface of the jig bed.Hutch Water. The water added to the jig below the screen. (Except for the water discharged with the hutch concentrate, the "hutch-water" eventually becomes "top-water.")Feed Water. The water in the ore pulp fed to the jig.(This water becomes part of the "top-water.")Pulsion. The period of the jigging cycle during which the water is moving upwards relative to the particles in the jig bed.

Jan 1, 1937

By J. R. Ross

A reconnaissance for sources of scandium and a metallurgical investigation of recovery methods for byproduct scandium from uranium mill solutions were conducted by the Bureau of Mines. The work on scandium was undertaken to obtain information on domestic resources and to explore and develop recovery procedures in consonance with the Bureau's long-range program for conservation and wise utilization of mineral resources. The element scandium is widely distributed in the earth's crust in trace amounts, but it seldom occurs as an important constituent in any mineral. An exception is thortveitite, (Sc,Y)2 Si207) a rare mineral that contains various amounts of scandium and yttrium and may contain up to 42 percent scandium oxide (SC203). Knowledge of the chemistry of scandium has expanded rapidly in recent years (1, 4, 9)4 but only fragmentary information is available about the metal because it is still largely a laboratory curiosity without established uses (2, 3). A recent study shows some of the physical proper-ties of the metal are (1) density of 3.05 grams per cubic centimeter) (2) melting point of 1,540° C, (3) hexagonal close-packed structure) (4) hardness of about 50 Brinell (500-kilogram load), and (5) an alloy behavior similar to yttrium and rare-earth metals (2). The price of $2,850 a pound for scandium oxide of 99.9 percent purity and $2,700 a pound for oxide of 99 percent purity reflects the scarcity and complex chemistry of the element.

Jan 1, 1962

By Z. Sun

Imposing a strong magnetic field is considered to be an attractive method to prepare materials with aligned or textured structures due to its intrinsic properties, e.g. non-contact and easily controllable. However, the nature of the strong magnetic field effect still remains unclear and further research is needed. In the present paper, the effect of a strong magnetic field on the solidification of a hypereutectic Al-Cu alloy was investigated. After magnetic field treatment, the primary phase was aligned parallel to the magnetic field direction. Meanwhile, the eutectic micro-structural constituent became elongated and thinner. A theoretical analysis was conducted to have a better understanding of the phenomena. During solidification, the magnetic Faraday and dipole-dipole interaction forces are considered to decrease the solute pile-up in front of the solid-liquid interface and modify the eutectic cell formation. The alignment of the phase is due to the shape magnetic anisotropy and crystal magnetic anisotropy.

Jan 1, 2010

By Olav Mellgren

Part I. The interaction between potassium ethyl xanthate and lead salts has been studied thermo-chemically. It is shown that ethyl xanthate reacts with lead carbonate, basic carbonate, thiosulfate and sulfate according to principles of simple chemistry, whereas reactions with lead sulfite, metasulfite, basic thiosulfate and hydroxide at high pH are associated with secondary reactions. A new compound "xanthogen thiosulfate" is postulated. Part 11. Adsorption of ethyl xanthate on galena has been studied quantitatively and thennochemi-cally. It is shown that an ion-exchange mechanism governs the adsorption process and that the heat of adsorption of xanthate on galena is equivalent to the heat of reaction of ethyl xanthate with bulk lead salts. It is concluded that the entropy content of the surface "compound" on galena is different from that of a corresponding bulk lead salt. Alkali depression is in part shown to be due to the instability of the xanthate-galena system at high pH and to the formation of basic lead salts. Sulfate and carbonate ions are shown to have a stabilizing effect on the xanthate-galena system. PARTI. THERMOCHEMISTRY OF ETHYL XANTHATE AND OF ITS REACTION WITH LEAD SALTS In the past little attention has been paid to the chemistry of lead xanthate. It is known that xan-thates form slightly soluble compounds with lead and that suspensions of lead xanthates in alkaline solution decompose rather readily.' The solubility of lead ethyl xanthate is of the order of 2.6 x 10-6 moles per 1. At increasing pH the xanthate concentration of a saturated solution contains more xanthate. Thus at pH 11 this xanthate content is about 100-fold larger than at pH 7.1 Xanthates are known to be consumed when added to a suspension of slightly soluble lead salts such as lead sulfate and lead carbonate. It is unknown to what extent this xanthate consumption is due to a simple chemical reaction because, frequently, observations are made which reveal secondary reaction products in such reactions. Thermochemical study of the reaction between xanthate and lead salts offers a means to clarify the significance of these reactions as the enthalpy changes can be accurately predicted from heat of formation of lead salts in pure solution reactions. In the present work the heats of formation of lead ethyl xanthate from potassium ethyl xanthate and lead salts are determined and some thermochemical aspects of xanthate in solution are studied. The results of these investigations are presented in Part I. In Part II the heat of adsorption of ethyl xanthate on galena surfaces is presented. All enthalpy changes were measured directly in a microcalorimeter. Calorimeter: The calorimeter used for measuring enthalpy changes was similar to that used by Redinha and Kitchener2 which was based on a description by Derbyshire and Marshall.3 Other useful references4,5 are listed. A sketch of the calorimeter

Jan 1, 1967

By A. Berry, N. R. Banerjee, C. S. Finnigan, M. Fayek, N. J. Bridge

Lac Cinquante is a mineralogically simple, vein-hosted uranium deposit in Archean basement rocks (Angikuni greenstone belt) that originally were unconformably overlain by Proterozoic sedimentary and volcanic rocks of the Baker Lake Group (BLG). Basement rocks are mainly pillowed and massive tholeiitic lavas (N-MORB) with interbedded tuff; overlying sedimentary rocks comprise a basal talus/fault breccia that grades upward into fluvial sedimentary rocks and subaerial, trachytic volcanic rocks; granite and porphyry dikes (Hudson and/or Nueltin granitoids) intrude the basement rocks. A typical section through the Main Zone comprises 1) laminated ‘tuff’, 2) altered (carbonate-hematite-chlorite) schistose ‘tuff’, 3) a pitchblende-bearing, breccia-vein, 4) altered ‘tuff’, and 5) laminated ‘tuff’. The vein comprises brecciated chlorite, hematite, and pitchblende with carbonate cementing the breccia. Graphitic ‘tuff’ with sulfide-stringer veinlets locally overlies or underlies the vein. Pitchblende also occurs in the altered rocks and in gash veins that cut basement rocks. U-Pb ages on pitchblende fall into two groups: one at 1828 } 29 Ma reflects primary uranium mineralization, and a second at 1437 } 31 Ma represents resetting. Pb-Pb chemical ages show other resetting events at 1260-1321Ma, 895 Ma, 741-813 Ma, and 660-706 Ma. One possible genetic model for the Lac Cinquante deposit involves leaching of uranium from granitoids and the BLG by basinal brines that migrated to depositional sites where graphitic rocks acted as a reductant. A second model requires that uranium was sole-sourced from the BLG and that granitoid rocks provided heat to drive the hydrothermal system, which leached and ultimately precipitated uranium. The deposit has characteristics similar to vein-type uranium deposits in the Beaverlodge District of Saskatchewan

Jan 1, 2013

By M. W. Hildyard

The aim of this paper is to demonstrate that active seismic measurements could have an impact in helping solve rock engineering problems experienced in the South African mining industry. The paper presents a variety of experimental and numerical results where seismic waves show clear differences in wave-speed and amplitudes due to different degrees of fracturing. It presents results from the ?Omnibus? project commissioned to develop new ultrasonic technologies for diagnosing fracturing for nuclear waste repositories. This included using models to investigate assemblies of cracks where the effects of crack density and crack size on waveforms are shown to be coupled. Results indicate that these effects can be decoupled in the frequency domain, where the Fourier amplitude aids in estimating crack size, while the low frequency phase-difference has a direct relationship to crack density. Models are also shown to aid interpretation of waveforms by isolating geometric effects from the effects due to cracks. Two rock engineering problems experienced in the South African mining industry are investigated through numerical examples. These demonstrate that determining whether ?crush? pillars have failed and determining the degree of fracturing in the hangingwall of stopes, may be possible through the use of active seismic surveys.

Jan 1, 2005

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.