Search Documents

By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By Robert C. Stanley

Early History Probably the first use of nickel by man was in the fashioning of implements, and later swords, from nickel-bearing meteorites, masses of metal that have fallen from time to time at many points on the earth's surface and which consist normally of iron carrying substantial amounts of nickel. Meteorites were perhaps the first metal known to man. The falling star, sought out with fear overborne by curiosity, was found to be a better stone than the earth-given, truly a boon from the gods. Archeologists tell us there is good evidence that the ancient oriental peoples learned at an early date to make these stones into useful implements. The invincible blades of the great warriors of old in China, Persia, and in northern Europe, were Heaven-sent, a fable which sounds significant of meteoric iron. Probably some of the ancient swords of Khorassan and of Damascus were of meteoric nickel-bearing iron (1). Fifty centuries were to pass before men learned to isolate nickel and add it to iron to produce the same alloy for much the same purpose. Meanwhile, man had found another natural alloy of nickel, known first to the Chinese as paktong, or 'white copper.' It was obtained from complex copper-nickel sulphide ores of Yunnan in southern China. This metal was brought by caravan through India into Bactria, a country north of the Hindu-Kush mountains, in what is now known as Russian Turkestan. The earliest specimen extant is a Bactrian coin attributed to 235 B.C. The rough reddish-white metal was also sent in the form of triangular rings to Canton, where zinc ores were added and the whole smelted to a more malleable alloy, also known later as paktong. This alloy was the forerunner of German-or nickel-silver. Specimens of this alloy, wrought into ornamental candlesticks and boxes, were brought from Canton to Europe by the East India Company in the early days of the China trade. Paktong was highly prized for its beauty as well as its eastern origin in far-away China. By 1760 the unwrought metal was imported into England for domestic manufacture.

Jan 1, 1935

By J. E. Hawley, Y. Rimsaite, T. V. Lord

"IntroductionIN THE COURSE of. a spectrographic investigation of the platinum metal .content of various minerals in sulphide ores, the use of • fire-assay beads dissolved in gold-amalgam ( 1) was found suitable for the quantitative determination of palladium and platinum. Later work on platinum and bismuth-rich beads showed however, that these could not always be readily mixed uniformly in the amalgam. Accordingly another technique was sought which would allow the simultaneous determination of gold, silver, palladium, platinum, rhodium, and bismuth, the last .a common contaminant in fire-assay beads. The method evolved, which consists of dissolving fire-assay •beads in .lead, resembles in several respects the method of Scobie (2) in which silver was used. It has equally good sensitivity arid reproducibility, and allows the determination of silver as well as the other metals mentioned. The 'mutua1 standard' method of calculation (3a) is used to determine actual quantities present. This method has been applied to sulphide and arsenide minerals and •ores• of nickeliferous and non-nickelferous deposits• of both pre-and post Cambrian age, and, following a suggestion by Dr. G. S. Hume and the late Dr. H. V. Ellsworth, Geological Survey of Canada, has also been used for a peculiarly rich platiniferous uranium oxide ore from the Nicholson property, Lake Athakaska, Sask. More recently, the method has been .tested for the determination also of iridium and ruthenium and results indicate it may be applied, as• well to osmium."

Jan 1, 1953

By Henry S. Washington

I. INTRODUCTION. DURING the last twenty years or so the chemical investigation of rocks has made great advances, and it is now generally recognized that a knowledge of the chemical composition is as essential as that of the texture or mineral composition-if not more so-for the proper classification of rocks and study of their origin and relationships. Rock-analyses have vastly increased in numbers and, what is of greater importance, in quality. New and improved methods permit of greater accuracy than was possible in the early days, and the list of chemical constituents frequently determined has risen from the seven or eight of the greater part of the nineteenth century to twenty or more. Indeed, rock-analyses with determinations of so many constituents are now commonly made by the chemists of the United States and Australia, while in Germany, Great Britain, France, and Italy the rarer constituents are determined more frequently than formerly. As a consequence of this modern, accurate work, it has been discovered that some elements which were formerly supposed to be rare are of wide-spread occurrence and are often present in considerable amount. The fact is further being developed that the elements tend to show certain relations of occurrence or abundance in connection with each other. This is a fact which is applicable to the rarer elements, and which also finds a broad geological and petrological expression in the recognition of petrographic provinces. We are beginning to obtain some definite, though as yet rudimentary, knowledge of the distribution of the elements among igneous rocks. Some of the results along these lines obtained by study of the vast accumulation of analytical data now available are well known to petrologists, while others do not seem to be so gener-

Sep 1, 1908

The Aluminum Company of America announced a temporary reduction of the operating rate at its primary aluminum plant at Palestine, TX where it is developing a new process to produce aluminum metal by electrolysis of aluminum chloride, Output will be reduced by half to about 7,500 tons per year while some improvements are being made on the chemical segment of the plant. The modifications were expected to take 3 to 4 years to complete. Alcan Alumininum Ltd., a major U.S. supplier of aluminum, reported declaration of force majeure on aluminum ingot shipment commitments following the shutdown of its primary aluminum plants at Arvida, Isle Maligne, and Beauharnois, Que. The shutdowns, which began early in June, resulted from management and labor differences.

Jan 1, 1979

By L Semenyna, W Douglas

Gold is often present in solid solution with pyrite in the Carlin Trend. The presence of organic carbon along with gold hosted in sulfide, referred to as double refractory ore, requires that ore with high carbon-in-leach (CIL) preg-robbing potential and poor leach recovery is routed to a roaster. During roasting, the pyrite is oxidised to (ideally) form hematite (Fe2O3), and the gold that was present as solid solution in the pyrite forms colloids within the hematite. The ideal texture of the produced hematite is porous to allow for the penetration of cyanide for gold dissolution. Temperature and other conditions of roasting, as well as ore characteristics (pyrite mineral associations, arsenic) can affect the texture and the type of iron oxide formed. Many of these alternate iron oxide minerals result in incomplete leaching. Comprehensive gold deportment studies have proven that the majority of the gold losses in Barrick GoldstrikeÆs roaster leach tailings occur within the iron oxides created through the roasting process.The iron oxide phase that hosts the majority of the gold in tailings is in the form of by-product maghemite (?Fe2O3), which is highly magnetic. Barrick Goldstrike has designed a magnetic recovery circuit to capture these iron oxides, and with subsequent reprocessing, recover the lost gold. Pilot plant results and analysis using scanning electron microscope mineral liberation analyser (SEM MLA) shows that up to 30 per cent of the gold in tailings can be recovered with a three per cent overall mass pull to magnetic concentrate. This magnetic concentrate can be economically reprocessed, resulting in a three per cent improvement in roaster recovery.CITATION:Douglas, W and Semenyna, L, 2013. Magnetic recovery of gold-bearing iron oxides at Barrick GoldstrikeÆs roaster, in Proceedings World Gold 2013 , pp 79-86 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By R. E. Collom

The commercial development of petroleum and natural gas fields has reached its present status within 60 years and is still considered by some operators to be "100 per cent wildcatting." 1 A tendency to drill for gusher production, the production that yields big returns in spite of any mechanical defects in drilling methods, has frequently caused drillers to pass by oil-bearing strata of comparatively small yield and actually to overlook rich oil zones in proved fields; in addition, whole fields have been ruined by water because development methods were never carried beyond a hole-in-the-ground stage.2 Unfortunately, the petroleum industry has no mine dumps or tail. ing piles as at metal mines to yield fortunes through later and bette!' methods of treatment. The wasted oil and gas are gone, as are the time, money, and effort wasted in ill-advised or haphazard drilling. Probably as production costs increase less oil will be wasted, but the need to develop and produce from sands of low yield will become more urgent with the increase in consumption of oil and the decrease in supply. Hundreds of wells are producing steadily as the result of months and perhaps years of careful prospecting and of tests during drilling. The Bureau of Mines has studied the testing and drilling methods used at such wells, and presents in this paper a criticism of these methods and suggestions on future work. The term pr08- pecting here means correct identification and measurement of strata as they are exposed by the drill. The term testing means the determination of the kind and amount of fluid stored within the pores or crevices of any stratum exposed in the hole.

Jan 1, 1922

By C. K. Eilerts

Knowledge of the phase relations of the fluids that exist in the porous spaces of rocks constituting natural petroleum reservoirs and of the behavior of these fluids under various field conditions of operation is essential to the conservation of petroleum and natural gas and to their efficient recovery. The problem of determining whether these fluids are in the liquid or gaseous state and of recognizing the transitions that may take place as the material in the reservoir is subjected to different conditions of pressure and temperature confronts many producers today, especially in certain fields. The subject has grown rapidly in importance since the discovery of and production from deeper reservoirs that have correspondingly higher pressures and temperatures as compared with shallower

Jan 1, 1938

By A. Panteleyev, C. S. Ney, R. J. Cathro, A. Sutherland Brown

The general distribution of metal deposits in the Canadian Cordillera can be related to its tectonic evolution. The Canadian Cordillera is naturally divisible into five longitudinal tectonic belts within which rocks are broadly similar in type, age and history. From west to east they are the Insular, Coast Crystalline, Intermontane, Omineca and Eastern Marginal belts. Seven classes of metal deposits in the Canadian Cordillera are defined and their characteristics described. These classes are skarn, porphyry, massive sulphide, stratiform, magmatic, copper in basic lavas, and vein deposits. Maps showing the distribution of medal and metal-group concentrations serve to illustrate the relations in space and time between mineralization and geologic evolution.

Jan 1, 1971

By H. Ito, T. Takasu

Effects of a mechnochemical treatment to oxide Ni ores have been investigated to enhance the extractive ratio of Ni from them in acid leaching process. High intensity grinding by a planetary boll mill showed strong effect to enhance the extractive ratio of Ni, for example , 10% of extractive ratio of Ni in sulfuric acid leaching(0.05mo1/1,at room temperature) increased to more than 90% with 60min. of planetary boll milling. Effects of additives(sulfur and some oxidants) on the mechnochemical treatment have also studied. Sulfur showed almost no effect to enhance the total Ni extractive ratio but increases the selectivity of Ni extraction. More than a half of Ni could be extracted by water when Ni ore was grinded at addition of Na2S207 in the milling treatment. Some effects of mechnocemical treatments to Ni ore are summarized in this paper.

Jan 1, 2005

By L G. B Wadley

The Australian gold industry has made large steps forward in the last few years. This progress has been driven by improvements in mining and processing technology, the high price of gold and by a favourable legislative, political and taxation environment. This paper concentrates on improvements in gold project development, process engineering and technology as seen by BHP Engineering, Perth, Australia. The paper describes technical aspects of successful gold project development including metallurgical test work, feasibility studies, choice of process flow sheet (gravity, heap leach, carbon in pulp (CIP), carbon in leach (CIL) or other routes). It sets out our views on plant design, plant construction, procurement and project management. A case study for a small plant recently completed in the Philippines is presented as a solution to the problems often encountered in treating quartz vein gold deposits.

Jan 1, 1990

By Charles E. Locke

CONTINUED expansion of gold mining in 1935 led to further developments in treatment methods. In base metals and non-metallics progress is also noted, coincident with greater activity. Statistics are not available yet for 1935 but the trend is shown by 1934 when nonferrous ore mined in the United States was 35,840,737 tons, or 45 per cent more than in 1933. The amount concentrated was 27,167,530 tons or 75.80 per cent of the ore mined, and flotation was used in whole or part on over 96 per cent of the ore subjected to concentration. In the crushing field a new model of the Fahrenwald crusher is promised soon. The Symons fine-reduction cone crusher and Traylor secondary crusher continue to gain as intermediate crushers. A new book entitled "Crushers for Stone and Ore" by William T. W. Miller appeared. The Hadsel mill has been improved still further and a number of installations are in satisfactory operation showing economical power consumption and low wear. An attempt in a

Jan 1, 1936

By J. B. Gayle

In a modern blast furnace, production depends, to a large extent, on the rate at which the furnace gases can be forced through the charge. Since these gases must make their way through the voids between particles of coke, ore, and limestone, the size and size distribution of the stock-column materials are of considerable importance. Also, because the coke pieces support the weight of the overburden and provide the majority of the voids through which the gases pass, their ability to withstand the shattering and abrading forces to which they are subjected should be related to the maximum obtainable production for any particular furnace. Although the wide acceptance of this point of view is indicated by the ever-increasing demand for stronger and more uniform blast-furnace cokes, economic considerations demand that a quantitative evaluation of the relation between coke quality and blast-furnace performance be made available to the industry at the earliest possible date. The following studies of size-distribution patterns and breakage processes were, therefore, conducted as a part of a preliminary investigation intended as a basis for future studies of the relation between coke quality and blast-furnace performance. The major findings may be summarized as follows: 1. New evidence for the presence of two independent distributions of sizes in run-of-oven cokes has been obtained, and a method for characterizing and estimating the relative importance of the individual distributions has been demonstrated. This method has also been used to study the different types of degradation taking place during the tumbler test.

Jan 1, 1954

By Maurice Hunter

The paper outlines recent design developments in the computerization of surface crawler drills for the quarry industry. It references the technology firstly developed for the underground mining and construction industry, where automation and computerization has been in demand for a number of years.

Jan 1, 2003

By Walter F. Atkins

Fair market value, in the legal sense , is the price which a prudent and knowledgeable buyer and a prudent and knowledgeable seller, acting without constraint or compulsion , will agree upon to exchange an asset. In the ordinary commercial or engineering usage, the term may imply simply the market value or a reasonable and equitable price. The engineer evaluator who is called upon to express an opinion about the fair market value of an asset may be able to base his estimate on the sale price of similar assets or on the market values of stock. Frequently such indicators of value are not available and the evaluator must devise other means of appraisal. Mineral resource properties may be thought of as having value by virtue of the existing or potential ability to produce at a profit. Conventional procedures permit the computation of the present value of future revenues having due regard for the time value of money and the risks attendant upon the realization of the venture. Such computations have gained wide acceptance as a basis for the estimation of fair market value.

Jan 1, 1977

By Charles Hardy, George D. Cremer

POWDER metallurgy has been established for some time as a novel method for manufacturing a great variety of articles generally specialties that could not be made conveniently by any other method. In this category are such parts as porous hearings cutting tools of sintered carbides, and electrical contacts in which the metallic constituents do not tend to alloy in the proportions employed. The industry, however, is now at a stage where it has begun to manufacture articles that can and have been made by other methods. Thus, powder metallurgy is now preferred technique for the production of numerous machine parts characterized by high strength, accuracy of configuration, and substantial lack of porosity. Manufacture of such machine parts from metal powders has no doubt been stimulated by the war, although the trend in this direction has been apparent for several years. In any case, quantity production of high-density precision pieces by ponder metallurgy is now in full suing in the United States, and such production can and should continue to expand during and after the war.

Jan 1, 1942

By D. A. Rhys

"The Red Bluff porphyry is a tabular 2 km long north-west trending Early Jurassic quartz diorite to monzodiorite body that intrudes a folded Triassic greywacke sequence in the lskut River area, northwestern British Columbia. The porphyry is 500 m to 800 m northeast of the Snip orebody, which is a southwest-dipping shear-vein, termed the Twin zone that contains approximately 35 tonnes of gold.The intrusion associated with the mineralization is characterized by 0.3 cm to 4 cm phenocrysts of K-feldspar in a mediumgrained plagioclase porphyritic matrix. It is overprinted by pervasive sericite + quartz ± K-feldspar ± biotite (potassic) alteration characterized by intense stockworking of quartz veins containing magnetite--hematite bands. This assemblage is cut successively by quartz veins with minor iron-oxides and pyrite, and by younger pyrite veins with phyllic envelopes. The system is gold-rich but copper-poor, with typical grades between 0.25 g/t and 0.6 g/t Au, and 0.1% and 0.2% Cu. All styles of alteration and veining have similar abundances of these metals. Where southwest- and north-east dipping shear zones are developed in the porphyry, veins of all types are sheeted and foliation parallel. These sheeted zones are interpreted to be syntectonic. Asymmetric phenocrysts, folded veins and oblique foliations developed in the 130 haulageway of the Snip mine imply oblique normally-directed shear on the southwest-dipping foliation.The adjacent Twin zone is a high-grade auriferous shear-vein system that is internally banded with: (1) carbonate-chlorite-biotite veins, with textures indicating formation at least partially by wallrock replacement, and (2) dilatant quartz-sulphide veins. Veins commonly have potassic alteration envelopes that contain biotite ± calcite ± K-feldspar. The zone is highly deformed and schistose, with numerous kinematic indicators including shear bands, asymmetric folds, rotated porphyroclasts and oblique foliations that indicate a normally-directed shear sense which is parallel to that indicated by fabrics within the porphyry.Precious and base metal veins within 2 km or 3 km of the Red Bluff porphyry are zoned. Veins and shear-veins proximal to the intrusion, such as the Twin zone, are typically enriched in gold, copper and molybdenum, and have potassic alteration envelopes dominated by biotite. Distal veins usually contain relatively abundant zinc and lead and have sericitic alteration envelopes. Structures of both types have an Early Jurassic galena Pb-Pb isotope signature.The similarities in structural fabrics and alteration histories in both the Twin zone and the porphyry, the zoning of the vein systems in the area, and the apparently concordant Early Jurassic zircon U-Pb age from the porphyry and galena Pb-Pb dates from the Twin zone and surrounding vein systems suggest that intrusion, semi-brittle deformation and a large mineralizing hydrothermal system were closely related temporally and genetically."

Jan 1, 1995

By AIME AIME

COMMITTEES. CANAL ZONE.-Col. George W. Goethals, U. S. A., Chairman; Lt.-Col. H. F. Hodges, U. S. A. ; Lt.: Col. D. D. Gaillard, U. S. A. ; Lt.-Col. William L. Sibert, IT. S. A. ; H. H. Rousseau, U. S. N.; Col. W. C. Gorgas, U. S. A.; Maurice H. Thatcher ; Joseph Bucklin Bishop ; Lt.-Col. Charles F. Mason, U. S. A.; S. B. Williamson ; Major Eugene T. Wilson, U. S. A. ; Edward Schildhauer ; Henry Goldmark ; Edward C. Sherman ; W. G. Comber ; W. B. Corse ; J. A. Walker; Joseph A. Le Prince; J. A. Smith ; Lt. Frederick Mears, U. S. A. HAVANA.-V. T. Polledo, Chairman; Diego Lombillo Clark, Jose Primelles, J. R. Villalon, Jose Artola, J. Ducassi, Luis Morales, Enrique Montonlieu. ENTERTAINMENT ON SHIPBOARD.-William L. Saunders, Chairman; Mr. and Mrs. S. D. Warriner, Mr. and Mrs. Thomas Robins, Mr. and Mrs. George.D. Barron, Mr. and Mrs. R. B. Watson, W. E. Greene. GENERAL MANAGEMENT. .Joseph Struthers, Chairman; Albert E. Vaughan. There were ten sessions of the Institute held for the presentation and discussion of, technical or professional papers. Eight of these sessions were held on the steamer while en route, and two in the ball-room of the Hotel Tivoli, at Ancon, C. Z. Mr. David W- Brunton, President of the Council, presided at all the sessions, except the sixth, at which Mr. Charles Kirchhoff, past President, occupied the chair. The following list includes the papers presented in oral abstract by the authors: First Session., October 24. The Summit Hill Mine-Fire, by W. A. Lathrop, Philadelphia, Pa. Mine-Fire at the Calumet and Hecla Mine, No. 8 Shaft., by S. D. Warriner, Wilkes-Barre, Pa. Fire in the Big Lick Stope, Lykens Valley and Williamstown Colliery, by R. V. Norris, Wilkes-Barre, Pa. Mine-Fire in the Hecksherville Valley, Schuylkill Field, Pa., by W. J. Richards, Pottsville, Pa.. Fire in the Monarch Mine, near Rock Springs, Wyo., by S. A. Taylor, Pittsburg, Pa.

Dec 1, 1910

By S. Kouniali

Experience with knowledge-based systems for Layout planning and roadway support dimensioning is on hand in European coal mining since 1985. The systems SOUT (support choice and dimensioning, 1989), SOUT 2, PLANANK (planning of bolt-support), EXOS (layout planning diagnosis. 1994), Sout 3 (1995) have been developed in close cooperation by CdF1. INERIS2. EMN3 (France) and RAG 4, DMT5, TH - Aachen6 (Germany); ISLSP (Integrated Software for Layout and support planning) development is in progress (completion scheduled for July 1996). This new software technology in combination with conventional programming systems. numerical models and existing databases turned out to be suited for setting-up an intelligent decision aid for layout and roadway support planning. The system enhances reliability of planning and optimises the safety-to-cost ratio for ? deformation forecast for roadways in seam and surrounding rocks, consideration of the general position of the roadway in the rock mass (zones of increased pressure, position of operating and mined panels). ? support dimensioning ? yielding arches, rigid arches, porch sets, rigid rings, yielding rings and bolting / shotcreting for drifts ? yielding arches, rigid arches and porch sets for roadways in seam ? bolt support for gateroads (assessment of exclusion criteria and calculation of the bolting pattern) ? bolting of face-end zones (feasibility and safety assessment, stability guarantee).

Jan 1, 1996

By J. A. Ober

"In 2015, the estimated value of nonfuel mineral production in the United States decreased by 3 percent from that in 2014 (Table 1), mainly as a result of decreased metal and metallic mineral prices, especially iron ore, copper and precious metals. Lower metal prices were attributed to decreased consumption, especially in China and increased global inventories. Several U.S. metal mines were idled in 2015, including the only U.S. rare earths mine at Mountain Pass, CA. Downstream processors also were affected, with smelters and refiners either shutting down or idling production lines. Increases, however, took place in the value and quantity of production of industrial minerals, especially those used in the construction sector, including cement, construction sand and gravel and crushed stone. Trends in mineral-related sectors of the domestic economy, except for iron and steel manufacturing, aluminum manufacturing, coal mining and metals mining, all experienced growth (Table 2).Discussion of mine production is frequently segmented according to the type of materials produced within the broad categories of metals and industrial minerals (also known as nonmetallic minerals). Industrial minerals can be further subdivided as construction aggregates and other industrial minerals. Metals tend to have higher unit values but very low production quantities compared with those of industrial minerals, which have higher production quantities but are lower-valued materials, such as crushed stone or construction sand and gravel. Therefore, for discussion and analysis of the performance of the nonfuel minerals industry, the value of production is used rather than the tonnage produced. Tonnages of construction aggregates are orders of magnitude larger than those for most other mineral commodities thus making direct comparisons based on weight meaningless (Fig. 1).Mineral industry performanceThe estimated value of domestic nonfuel mineral production, including metals ($26.6 billion) and industrial minerals ($51.7 billion), in 2015 declined to a total of $78.3 billion, from $80.8 billion in 2014 (Table 1). However, as shown in Fig. 2, minerals remained fundamental to the United States economy, contributing to the real gross domestic product at several levels, including mining, processing and manufacturing finished products. Net exports of mineral raw materials and old scrap were $14.4 billion. Domestic raw materials, along with domestically recycled materials, were used to produce mineral materials worth $630 billion. These mineral materials, including aluminum, brick, copper, fertilizers and steel, and net imports of processed materials (worth about $32 billion) were, in turn, consumed by downstream industries with a value added to the gross domestic product estimated to be $2,490 billion."

May 1, 2016