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By Grover R. Castle

INTRODUCTION "Project Financing" or "Project Loans" have become increasingly popular in recent years, and commercial banks are being asked to consider more and more of such financing. However, the analysis of this type of loan is quite different from the analysis of a loan to a financially sound corporation based on the company's balance sheet. For this reason Chemical Bank did a study of project loans in an attempt to be more sophisticated in our approach to them. As part of this study, we examined 29 project financings for which information was available. In this article I shall describe project loans and set forth the guidelines we developed, as an aid to credit officers who might have occasion to analyse this type of financing. DEFINITION OF "PROJECT FINANCING" OR "PROJECT LOAN" The terms "project financing" and "project loan" commonly describe the various methods that banks and institutional lenders use to finance the construction of new projects on a basis whereby payout is anticipated from the revenue stream generated by the project. A project financing often involves a loan to a new entity formed specifically to own the project. The analysis of a project loan proposal is quite different from the analysis of other term-loan proposals since it involves a credit decision based on the review of a projection or forecast rather than of historical earnings and/or it involves the reliance on contractual obligations of third parties. Lenders are asked to assume the added risks associated with project loans because: 1. Project financing may permit a company to obtain additional leverage. It is possible for companies to arrange financing on a project basis that could not be arranged as a direct borrowing. For example, a company may not be permitted to borrow more money directly, due to a limitation in a bond indenture. However, a project financing can sometimes be negotiated on a basis not prohibited by the indenture. 2. Often the sponsors of, or the stockholders in, the project are seeking an off-balance-sheet financing. For example, 11 of the 29 projects in our study were arranged on an off-balance-sheet basis and one showed on the balance sheet as a deferred income item. An off-balance-sheet financing, for the purpose of this article, is a financing which does not show as a direct liability on the balance sheet of the sponsors of or stockholders in a project. 3. Projects are often located in a foreign country. The financing is arranged so that the lenders assume the political risk on the loan because many companies rightly believe that this arrangement affords a degree of insulation from political risk not otherwise obtainable. 4. Many projects are jointly owned by several sponsors. This form of financing lends itself well to a situation where a new entity is formed to own a project and do the borrowing. Project loans can be used to finance a variety of activities including development of iron-ore deposits and associated pelletizing plants; development of coal reserves; construction of pipelines, alumina plants, fertilizer plants and refineries; etc. The specific areas of analysis can be quite different, depending upon the type of project being financed. It is important, therefore, to classify the proposal according to the type of project, and also by the nature of the financing - nonrecourse financing, financing covered by a guarantee of completion and financing supported by an undertaking lasting for the life of the financing. I will discuss each of these types in more detail later, but first, I should like to make some

Jan 1, 1985

By C. van Dijk

In Sept., 1960, a steam-drive project was started in the solution-gas drive area of the Schoonebeek field. A part(ern of three five-spots and one four-spot was selected covering an area of 65 acres. The pay in the project area has good lateral continuity and dips slightly to the northeut; it is about SO ft thick and permeability increases from 1,000 and at the bottom to approximately 10,000 md at the top. The oil originally in place was 12.6 X 10' bbl. The oil has an in situ viscosity of about 180 cp. At the start of the steam drive the cumulative primary production due to. solution-ga.7 drive amounted id 4 Percent of the oil originally in place. Reservoir pressure had dropped about 120 psi and no significant primary re-.serves remained. Some 11.3 million bbl of steam (all steam quantities are expressed in barrels of water vaporized) have been injected, resulting in production of an additional 4.1 X I0 9bl of oil, or 33 percent of the oil originally in place. This corresponds to a cumulative oil-stearn rario of 0.37 bbllbbl. It appears that the steam preferentially moves r updip while liquids are produced mainly from downdip wells observations indicate that tile steam flows through only the upper part of the formation. The lateral steam distribution in the pattern is satisfacrory since several prodriction wells hardly reacted and, hence, cori tributcd little to the oil production. Production performance and results from material balance calcutlations agree satisfactorily with the results of large-,scale laboratory experiments. On the basis of these experirmental results the .steam drive, together with a cold water follow-up. is expected to bring ultimate recovery to a value of crt leas: 50 percent of the oil originally in place. No serious production problems have been encountered. However, due to mechanical fuilure, two old prodriction wells and one injection well had to be replaced. An extension of the. steam drive in this area is under connstruction. Introduction The Schoonebeek oil field, discovered in 1943 and developed after World War 11, is situated in the eastern part of the Netherlands. The main oil reservoir in this field is the Valanginian sand. A completely sealing fault divides this reservoir into two areas (Fig. 1): the southwestern part of the sand body where primary production is ob- tained by means of a solution-gas drive, and the remain. der where edge-water drive is the production mechanism. In the greater part of the field the reservoir consists of a single, unconsolidated sand body. The net thickness ranges from 30 to 100 ft and the top is between 2,400 and 2,800 ft below sea level. Formation permeability varies from approximately 10,000 md at the top to values of the order of 1,000 md at the bottom, and porosity is about 30 percent. The reservoir contains a paraffinic oil of 25" API gravity with an in situ viscosity of 160 to 180 cp. Initial oil saturation was high (85 to 90 percent). The relatively large quantity of oil in place (more than 10' bbl), and the low ultimate primary recoveries expected from this field — approximately 15 percent stock-tank oil initially in place (STOIIP) for the water-drive area and 5 percent STOIIP for the solution-gas drive area — clearly indicate ample scope for secondary recovery. Because ies-ervoir and crude characteristics made this field suitable for thermal secondary recovery, a hot-water drive project was started in the water-drive area about 10 years ago. A few years later a steam drive and an in situ combustion project were started in the solution-gas drive area. This paper deals with the performance of the steam-drive project, which was started in Sept., 1960, and which is still in operation. Design of Steam-Drive Project, An experimental investigation of the steam-drive process carried out by schenk in 19561 indicated that under schoonebeek conditions steam injection could be an attractive secondary recovery method. the findings and encouraging results of a pilot test in the Mene Grande field in venezuela,i led to the design of a steam-drive project in the schoonebeek field, Pruject Site and Pattern In 1958 the reservoir pressure in the solution-gas drive area had decreased to about 120 psi, and oil production rates of wells in this area had dropped to 7 to 10 B/D. The cumulative primary production was about 4 percent STOIIP, leaving an oil saturation of approximately 85 percent. In view of the large amount of oil left behind in the reservoir, the solution-gas drive area was selected for the planned steam-drive project. The area in the vicinity of Well S1 3 (Fig. 2) was considered to be suitable since it is at least partly isolated from the rest of the field by faults and the sand is relatively thick (about 80 ft).

Jan 1, 1969

By S. J. Swainson

PHOSPHATE ROCK is a low- priced commodity. This fact has influenced the choice of mining and beneficiating methods to a greater degree, perhaps, than in most other low-grade mining operations. The fact that many yards of everburden and matrix must be stripped and mined per ton of salable "rock" produced and sold has necessitated he development of relatively simple btneficiating plants having high capacity and low capital and operating costs. The law of diminishing returns must always be reckoned with in phosphate mining and washing, and often recovery must be sacrificed in favor of costs in order to achieve the highest over-all economic efficiency. The phosphate-bearing formation, known as "matrix," is composed of (1) phosphate pebbles, which are somewhat rounded in shape and which vary in size from 1-in, to micron sizes, (2) rounded quartz grains usually smaller than 10 mesh, and (3) clay, of varying "stiffness," which is the binder of the matrix. The phosphate pebbles vary in hardness. Their color, which varies from white to black, is not a reliable indicator of the Bone Phosphate of Lime (B.P.L.) content of the

Jan 1, 1944

By John D. Sullivan

MAJOR technical advances seldom occur in a single year, and this is especially true with aluminum and magnesium where marked improvements in metallurgical processes and products took place during the war years. Nevertheless, the light metals and alloys, particularly aluminum, are advancing in commercial importance and are finding their niche in industry. New applications during the year have resulted from a better over-all knowledge of properties, handling, etc., rather than from revolutionary new developments.

Jan 1, 1948

By Frank V. Hicks

THE following paper-in no sense a technical paper-is a summary of a safety campaign instituted by a coal-mining company to improve an unfortunate safety record. The experience should be suggestive equally to coal and metal-mining companies. With few precedents to follow in the beginning, the course was charted by trial and error. The endeavor, often disheartening, finally resulted in the capture of the most coveted safety trophy in the mining industry, "The Sentinels of Safety," awarded by the Hercules Powder Co. of Wilmington, Del., through the U. S. Bureau of Mines. The period described covers the 10-year interval, 1924 to 1933, the year 1933 being that for which the award was made. The coal company considered has produced annually for a number of years an average of 2,750,000 tons of coal, employing at various times from 1.800 to 3000 men. Prior to 1924, the

Jan 1, 1935

By Dale S. Preece

INTRODUCTION In 1975 Congress passed the Energy Conservation Act to establish a U. S. Strategic Petroleum Reserve (SPR) with a capacity of 750 million barrels of crude oil. The most economic storage medium was determined to be salt caverns leached in salt domes in Louisiana and Texas. Salt caverns existed at several sites when the reserve was created. These were obtained by the U. S. Department of Energy (DOE) and used to initiate SPR oil storage. In order to meet the storage capacity approved by Congress, new caverns also had to be leached. To support the resulting design effort, finite element computer programs have been used to determine the creep closure and structural stability of salt caverns Using site specific material properties including creep models, elastic moduli and fracture data, the finite element analyses have replaced earlier empirical approaches to cavern design. This report presents results of such finite element analyses to determine the best cavern roof shape and the minimum pillar to diameter ratio, P/D. These numerical predictions indicate that the current cavern design is safe. FINITE ELEMENT AND MATERIAL MODELING The finite element program used in this study has existed for approximately four years. Its theoritical basis (Key, et al, 1980) and application are well documented It was originally developed to predict the creep around mined openings In bedded rock salt for the Waste Isolation Pilot Plant (WIPP) The program was tested by modeling the creep of salt around a drift and by comparing the results with the predictions of eight other structural computer codes (Morgan, et al, 1981) Since then the program has had continual use for calculations to support the WIPP (Miller, et al, 1982) For about two years the

Jan 1, 1984

By Donald H. McLauqhlin

ITEM expressed in billions of dollars have become so commonplace these day- that a mere statement of the latest figures for the country s gold reserve scarcely conveys m adequate sense of the immensity of the commitment the nation has made in building up its huge stock, two-thirds of which is now stored at Fort Knox. Kentucky. Only by measuring it against quantities that mean something tangible to a particular group can an adequate comprehension of its magnitude he rained; consequently, to mining engineers, a comparison with the value of output from well-known mining districts might best serve to give some degree of reality to the astronomical figure at which the country gold is now valued.

Jan 1, 1941

By B. Yarar, J. Kaoma

[Introduction The critical surface tension of wetting of hydrophobic materials has been investigated extensively by Zisman et al. (1973) and relates the spreading of a liquid on a solid to the surface tension of this liquid. Thus, the Zisman ap¬proach shows that a plot of Cos 0 versus ?LV where, 0 is the contact angle and ?LV is the surface tension of that liquid in contact with its own vapor at equilibrium, produces a straight line which can be extrapolated to Cos 0 = 1. The intercept corresponds to a given ?LV, termed the critical surface tension of wetting. In instances, however, Cos 0 - ?LV plots show deviations from linearity. Alternative approaches have also included the plotting of adhesion tension (YLV COs 0) versus ?LV that can be interpreted in terms of critical surface tension data (Lucassen-Reynders, 1963). It has, on the other hand, been customary to correlate contact angle (0) with flotation data, although it is recognized that surface inhomogeneities and related contact angle hysteresis limit the interpretations pertaining to solid surface structures purely based on contact angle measurements. It is nonetheless true that 0 = 0, when the liquid is water, corresponds to a hydrophilic solid. Determination of ?c by contact angle measurements in conformity with the Zisman approach can encounter experimental difficulties, especially when solids are in a powder form. Following the reasoning that 0 = 0 corresponds to the hydrophilic state of a solid, froth flotation experiments can be expected to produce critical surface tension of wetting values for powders. The technique that consists of plotting recovery (% R) versus YLV data and extrapolating the linear part of the curve to % R = 0, has been described elsewhere (Yarar and Kaoma, 1984). This paper describes some of the results obtained by the extrapolation technique mentioned above, using various sulfide minerals. Experimental Materials Molybdenite (MoS2), sphalerite (ZnS), chalcopyrite (CuFeS2), chalcocite (Cu2S), and galena (PbS) were handsorted from massive samples and ground by mortar and pestle, and the -147 Fan fraction used in experiments; sulfur (S) was a C.P. Fisher Scientific Co. product. Method One gram powder samples were conditioned for three minutes in methanol-water solutions of predetermined surface tension values and the percents recovered by flotation using a Partridge-Smith Cell (Partridge and Smith, 1972), were plotted against each ?LV value. Results and Discussion The percent recovery versus ?LV for two naturally hydrophobic solids, i.e., natural molybdenite, MoS2 and sulfur are given in Fig. 1 where it is seen that ?c for sulfur is obtained as 31.5 mNm-1 whereas for MoS2, it is 26 mNm-1. Figure 1 also shows that the new flotation technique described, for estimating ?c is in good agreement with the Zisman method. Curves obtained by the same method for the minerals Cu2S, PbS, and ZnS are given in Fig. 2, where it is seen that for Cu2S, ZnS, and PbS, the extrapolation to % R = 0 produces ?c values of 36, 39, and 49 mNm-1, respectively. CuFeS2, on the other hand, gives a curve that does not permit such an extrapolation to obtain a ?c value with certainty. Nonetheless, treatment of the powder with 8.95 X 10-5 molar Na2S solution followed by washing with distilled water prior to flotation effects the curves as shown in the insert of Fig. 2. The type of curves given in Fig. 1 appear to be typical of hydrophobic solids as can also be observed in Fig. 3. The composition of solid and minute quantities of inclusions seem to play an important role as regards the surface properties of solids as reflected by the slope of the linear part of the % R - ?LV plot and thus the value of ?c obtained by this technique. For example, MoS2 of three different stoichiometric compositions produced the data given below. [MoS2MoS2.14Mo1.002S2 ?c mNm-126.029.031.0 dR/d?8.95.23.0]]

Jan 1, 1985

By Arthur C. Forsyth, R. L. Dowdell

A search through the available literature shows that the cobalt-nickel-silicon system has not been systematically studied. This seems rather odd because all three elements are fairly abundant and have better than average corrosion resistance; however, they have high melting points, which makes experimental work difficult. Cobalt and nickel form a continuous series of solid solutions and each metal dissolves about 7.5 per cent silicon. Many ternary alloys have been studied and the results have been published in a great many different ways, but to present such data in a short but clear and understandable manner is still a problem. The following pages describe the results of the study of 76 alloys from which the partial ternary diagram (Fig. 1) of the cobalt-nickel-silicon system has been drawn. The alloys were chosen according to the plan in Fig. la by taking definite ratios of cobalt and nickel, such as 70 Ni, 30 Co or 40 Ni, 60 Co, and adding silicon in various percentages. Each section was studied in detail by means of thermal analysis and microscopic examination, but only two of these detailed sections were thought necessary in the point perspective drawing to give a comprehensive picture of the liquidus, solidus and solid transformations that take place over the temperature ranges studied. Complete thermal analyses and microscopic data are given in Table 1. Experimental Procedure The alloys were prepared from metals of commercial purity, as follows: electrolytic nickel 99.60 + 0.35 Co; chemically purified silicon 99.79 per cent plus impurities of Fe 0.027, A1 0.008, Ca 0.014, C 0.004, N² 0.10; and cobalt 98.82 per cent plus impurities of Ni 0.42, Fe 0.12, CaO 0.27, S 0.012, Mn 0.10 and SiO² 0.15. It should be noted that the largest impurity in cobalt is nickel, one of the alloying elements. The alloys were melted in a small Ajax induction furnace, the nickel and cobalt being melted first because of their better ferromagnetic

Jan 1, 1940

By Arthur C. Forsyth, R. L. Dowdell

A search through the available literature shows that the cobalt-nickel-silicon system has not been systematically studied. This seems rather odd because all three elements are fairly abundant and have better than average corrosion resistance; however, they have high melting points, which makes experimental work difficult. Cobalt and nickel form a continuous series of solid solutions and each metal dissolves about 7.5 per cent silicon. Many ternary alloys have been studied and the results have been published in a great many different ways, but to present such data in a short but clear and understandable manner is still a problem. The following pages describe the results of the study of 76 alloys from which the partial ternary diagram (Fig. 1) of the cobalt-nickel-silicon system has been drawn. The alloys were chosen according to the plan in Fig. la by taking definite ratios of cobalt and nickel, such as 70 Ni, 30 Co or 40 Ni, 60 Co, and adding silicon in various percentages. Each section was studied in detail by means of thermal analysis and microscopic examination, but only two of these detailed sections were thought necessary in the point perspective drawing to give a comprehensive picture of the liquidus, solidus and solid transformations that take place over the temperature ranges studied. Complete thermal analyses and microscopic data are given in Table 1. Experimental Procedure The alloys were prepared from metals of commercial purity, as follows: electrolytic nickel 99.60 + 0.35 Co; chemically purified silicon 99.79 per cent plus impurities of Fe 0.027, A1 0.008, Ca 0.014, C 0.004, N² 0.10; and cobalt 98.82 per cent plus impurities of Ni 0.42, Fe 0.12, CaO 0.27, S 0.012, Mn 0.10 and SiO² 0.15. It should be noted that the largest impurity in cobalt is nickel, one of the alloying elements. The alloys were melted in a small Ajax induction furnace, the nickel and cobalt being melted first because of their better ferromagnetic

Jan 1, 1940

By G. S. Tint, M. Herman, V. V. Damiano

Dislocation arrays and substructures were studied in cadmium doped zinc crystals using a newly devised etching technique. Cadmium precipitates delineating the dislocations were revealed by etching a surface closely parallel to the (0001) slip plane. Cinephotomicrography of the continuous etching process revealed the three-dimensional aspects of dislocations in the bulk crystal. Dislocation etch patterns were studied in both deformed and annealed crystals after suitable aging at room temperature. The effect of annealing was evidenced by a rearrangement of the dislocations into low-angle boundaries and hexagonal networks. ETCH pit techniques have been used extensively to study dislocations in both deformed and annealed bulk metal crystals. Ideally one hopes to obtain a one-to-one correspondence between the etch pits and the points of emergence of the dislocations at the surface. One then attempts to deduce the way in which dislocations are arranged in the bulk crystal from the arrangement of etch pits on the surface. It is clear that one can obtain only limited information of the dislocation configurations inside the crystal from etch pit studies of single surfaces. Considerably more information is obtained if one is able to follow the course of the dislocations through the crystal using progressive etching technique. Techniques of this sort were used by Gilmanl to study dislocations on the slip planes of NaCl crystals and by Damiano and Tint2 to study dislocation arrangement in zinc crystals grown from the melt. The present paper makes use of a technique first described by Tint and Damiano3 to observe and continuously record the dislocation structures which appear while a crystal surface was being progressively etched. Studies were made on cleaved (0001) surfaces to reveal the dislocations along their length on the surface closely parallel to the slip plane. The technique for revealing segments of dislocations along their length by etching is well known. Wilsdorf and Kuhlmann-wilsdorf4 revealed disloca- tions along their length in aluminum containing a few percent copper, when precipitates segregated along the dislocations. The technique was used by Low and Guard5 to study dislocation configurations on the slip plane in Fe-Si alloys containing carbon. In the present work the technique was applied to zinc containing cadmium since it was shown by Gil-man6 that a cadmium-rich phase could be made to precipitate from supersaturated solutions along dislocations in zinc. Segments of dislocations delineated by the precipitates were revealed by etching a surface prepared by cleaving the crystal. The three-dimensional nature of dislocations and substructures was thus studied from the cinephotomicro-graphic record of the continuous etching process. EXPERIMENTAL Single crystals of zinc containing the order of 0.1 pct Cd were prepared by slowly lowering a graphite crucible containing the melt through a temperature gradient of 15°C per cm at a rate of 1.5 X 10-3 cm per sec. "As grown" crystals were aged for periods of 1 month at room temperature, then cleaved in liquid nitrogen, and etched according to the procedure used by Gilman.' The etchant containing 32 g of CrO3, 6 g of hydrated Na2SO3 in 100 ml of water behaved as a chemical polish for zinc and etch pits were produced at the site of precipitates or inclusions. After the precipitates or inclusions were removed from the surface, the etch pits left behind were eventually polished smooth. This behavior enabled one to continuously observe the surface while the specimen was immersed in the etchant. Best results were obtained when the specimen surface was vertical and the reaction products of polishing were continuously removed by gravitational convection. Some crystals were heavily deformed in excess of 25 pct strain, others were lightly deformed the order of a few pct by compression such that the deformation occurred essentially by basal glide. Some crystals were etched immediately after deformation, others were allowed to age at room temperature for several weeks prior to etching. Heavily deformed crystals were annealed at various temperatures and etched on the cleavage plane immediately after annealing, others were allowed to age at room temperature for several weeks prior to etching. The etched structures of deformed and annealed structures were studied. Similar experiments were conducted on 99.9999 pct pure zone refined Tadanac zinc crystals which

Jan 1, 1963

"The Tooele plant is situated at the mouth of Pine Canyon, five miles northeast of Tooele City. The site forms one terminus of the Tooele Valley railway, which runs southwest through Tooele City to Warner, a station on the Los Angeles and Salt Lake Railroad, thirty-five miles southwest of Salt Lake City.An aerial tramway, four miles in length, crosses the Oquirrh Mountains and connects the plant with the Bingham district.The plant consists of a lead-zinc flotation concentrator, lead smelter and copper smelter.SAMPLING MILL The mill is a standard Taylor and Brunton sampling mill, built in two sections, each with a capacity of 100 tons per hour. The building is of steel and concrete, 40x84 feet. A well-equipped pulping, sampling and drying room is attached.All ore is sampled here and then distributed by conveyors to cencentrator, lead smelter and copper smelter bins.CONCENTRATOR This flotation mill is arranged in two units of 500 tons capacity each, one equipped with Callow pneumatic flotation cells, the other with Mineral Separation sub-aeration machines.The feed is maintained as uniform as possible by bedding, after coarse crushing at the sampling mill. Standard practice of ball mill grinding and classification is followed."

Jan 1, 1925

By Jack A. Simon, M. E. Hopkins

Coal is defined as a combustible rock that originated in the accumulation and physical and chemical alteration of vegetation. Coal can be ignited and burned like the wood that was man's earliest fuel, but coal gives more heat than the same amount of wood and has many industrial uses. Unlike wood, coal is not generally found on the surface of the ground but is mined from the solid rock of the earth. Before taking up the occurrence, formation, and the unique character of coal in the rock sequence, let us briefly consider the general character of all rocks in the crust of the earth. Relatively little is known about the very earliest history of the earth, although a number of logical theories have been developed. Manned exploration of the moon and the rocks returned to earth continue to provide some answers to questions concerning the earth's origin and history. The period of earth history with which we concern ourselves here begins after great areas of water had evolved on earth and substantial land areas of once molten (igneous) rock existed. Weathering and other processes that attacked the surface of the rocks reduced them to small particles. Water provided by rainfall transported this material, ultimately, to large bodies of water where it was deposited. Thus was initiated the geologic sequence of sedimentary rocks that lie above the once molten igneous rocks. The crust and upper mantle of the earth are made up of several large plates along which differential movement (primarily horizontal) takes place. Such movements, although small, are occurring today. These horizontal movements are accompanied by vertical movements causing important changes in the relative position of the continents and oceans. Low-lying coastal swamps with favorable climates are ideal locations for coal accumulation and burial by river-borne sediments, and large areas

Jan 1, 1981

By P. W. Bridgman

Flow and fracture are admittedly complicated phenomena of which we are yet only partially masters. There is not even nni-.persal agreement as to the details of the language best adapted merely to describe the phenomena, to say nothing of any theory. Certain points of view, however, are widely held, and there are certain general expectations as to what sort of procedures will prove permissible. A complete description of any situation involving fracture would demand a complete history of all the variables in the control of the experimenter. The experimenter endeavors so to choose his independent variables that they are adequate to determine completely the situation in the sense that when an experiment is repeated on the same initial material and with the independent variables running through the same sequence, all the other measurable properties of the system will also run through the same course. It is, I think, the universal conviction that when we are dealing with phenomena of flow and fracture, the most important of the necessary variables are the external forces acting on the various parts of the body; when the force history repeats, with certain obvious restrictions such as that temperature must be constant and non-mechanical forces, such as magnetic field, must be small enough to be ineffective, then the history of all measurable properties will repeat; in particular the alteration of geometrical shape due to flow will run through the same course, and when fracture comes, the character of the fracture will be reproduced. Complete mastery of merely the descriptive aspects of flow and fracture would demand the ability to predict the entire course of flow and complete characterization of the final fracture for every possible combination of forces, varying in time in all possible ways, when applied to bodies of all possible shapes. This full situation is obviously of prohibitive complexity. The first stage in reduction to manageable simplicity is to resolve the total situation into the sum of contributions made by small elements. Our thesis is that if each of the elements is adequately characterized, the behavior of the whole system is fixed. The element is usually taken of a simple geometrical shape, suggested by the mathematics best adapted to the particular situation. The forces acting across the faces of the elements are ultimately determined by the forces acting across the free faces of the whole system. The detailed process of finding the precise forces on the faces of all the elements in terms of the external forces involves the use of a special mathematical invention, the stress, a constructional quantity consisting of six components. The stress at any point in the body is determined by both the external force system and by the physical properties of the body at all points; quite different stresses prevail at the interior of bodies of the same shape under the same external forces in the elastic and plastic ranges. The forces on the faces of any element are, however, uniquely determined by the stress system at the element. Our fundamental thesis

Jan 1, 1945

By Michael Tenenbaum

THE importance of semikilled steel as a high tonnage grade has long been recognized. The increasing severity of the applications for which semikilled steel is used makes it desirable to obtain further information regarding the features of open hearth practice and ingot structure that can affect steel performance in subsequent rolling and fabricating operations. Accordingly, an investigation is being carried out studying the structure of various types of semikilled steel ingots. This paper reviews some of the observations made and information gathered in this investigation. By definition, semikilled steel may be considered to include all nonrimming steels in which the natural shrinkage occurring during ingot solidification is offset to an appreciable degree by gas formation. Accordingly, this type of steel includes the entire range intermediate between rimmed and fully killed steel. The resultant ingot structures range from those of steels that have been capped to suppress a weak rimming action to those steels that have been killed in the furnace or ladle to the extent that no mold deoxidizer is required. A survey reported to the 1946 AIME Open Hearth Conference' reviewed the practices being used at 28 major plants for the deoxidation of semikilled steel. It was found that most plants divide the deoxidizing additions between the ladle and the mold many of the plants adding only minor amounts of deoxidizer to the bath or none at all. Silicon, aluminum and titanium were the only elements used for ladle and mold deoxidation. Mold deoxidizers were added as capping additions or as uniformly fed additions. Several practices were reported in which the steel was deoxidized in the ladle to the extent that little or no mold deoxidation was needed. No reference was made to grades capped by using special mold designs or special closures over the top of molds. Accordingly, specific examples of this type of practice will not be considered in this paper. It appeared from this survey of deoxidation practice that semikilled steel can be divided into three types, namely, capped semikilled, in which aluminum is added near the end of pour or after shut-off, intermediate semikilled steels, in which aluminum is fed uniformly throughout the pour, and semikilled steels requiring no mold deoxidation. In an attempt to cover the ingot structures obtained by the range of practices reported in the preceding survey, three series of experimental heats were made using increasing amounts of aluminum, silicon and titanium for ladle deoxidizers. The ladle deoxidizers were added as stick aluminum, 50 pct ferrosilicon and 20 pct ferrotitanium (4 pct carbon), respectively. Two methods of studying ingot structures were used. Ingots were removed from production, burned longitudinally and machined to allow observation of the central pipe and coarse blowholes. During the machining operation much of the finely porous subsurface structure was obliterated. Accordingly, observations were also made

Jan 1, 1947

By Harry L. Washburn, Robert L. Llewellyn, W. J. Halvorsen

Many of the problems that occur in the preparation plant originate from practices in the mine. Impurities in raw coal can be in the seam itself or from extraneous material taken in mining from the roof or bottom. In the case of underground mines, the choice of mining equipment will affect the size consist and the amount of extraneous material included with the coal. Also, governmental regulations concerning the degree of rock dusting, gobbing underground, and cleanup have increased the dirt in raw coal. Sulfur dioxide emission standards, on the other hand, are pressuring the coal industry to clean coal more thoroughly. Coal supplied for coking purposes is nearly all upgraded by washing, while for the largest market, electric power generation, a high proportion is shipped as a raw product with processing, in whole or in part, only necessary when excess impurities are mined with the coal. This chapter will deal primarily with plants that process or wash coal to some extent (Fig. 1) and only incidentally with mines shipping raw run-of-mine coal crushed to a top size of, usually, 51 to 102 mm (2 to 4 in.), with little, if any, other treatment. JUSTIFICATION FOR COAL PREPARATION During the past decade, major changes have occurred affecting the market, profit, and long-range planning of the coal industry. Mining companies have become "partners" with consumers at many new and some old mines, both for steam and metallurgical coals. Coal properties have become "assigned" tonnages at mutually agreed upon conditions and prices. Lower unit-train tariffs have been instrumental in helping coal markets to compete against oil and nuclear energy. Coal prices for power plants are still on a Btu (British thermal unit)

Jan 1, 1981

By Open-Hearth Steel

We have a very high-powered organization up here this morning, headed by Kenneth C. McCutcheon, general superintendent of the Ashland Division of the American Rolling Mill Company, and L. A. Lambing, superintendent of the open-hearth and Bessemer departments of Jones & Laughlin Steel .corporation of Aliquippa, Pa., representing the open-hearth men. Also, we have P. F. Dolan, assistant general manager of the Maryland plant of Bethlehem Steel Company, of Sparrows Point, and Harry E. McDonnell, superintendent of blast furnaces of Weirton Steel Company of Weirton, W. Va., representing the blast-furnace section.

Jan 1, 1940

By William B. Plank

FOR the third consecutive year, I have collected the data on enrolment and employment of graduates from the schools in. the United States and Canada that grant degrees in mineral technology. The data were collected in the same way as formerly; namely, by questionnaire, dated Jan. 5, 1935, and are therefore comparable with the figures reported for former years. This year, along with the names of the 48 schools in the United States and the six in Canada, are listed the courses offered and the degrees granted by each, school, together with the names of the professors in charge. The names and addresses of the four schools in Mexico are also given. The list is on pages 450-1, which should he valued as a directory by those interested in mineral technology education. So far as is known, this is the most complete and up-to-date list that has ever been published.

Jan 1, 1935

Mining and Metallurgy of Lead and Zinc, AIME Vol. 121, edited by Dr. C. R. Hayward in 1936, remains a document of importance today even though 34 years have passed in the meantime. Since nothing in this world seems to be permanent, however, and progress brings new and better ways to do things, a two-volume set has just been published to bring the state of the art of 1936 up to date. This two-volume set, Mining and Concentrating of Lead and Zinc and Extractive Metallurgy of Lead and zinc, incorporates the papers to be presented during the Proceedings of the 1970 World Symposium on the Mining and Metallurgy of Lead and Zinc. The Symposium is being held October 20-24, 1970, in St. Louis, a site near to the famous Lead Belt of southeast Missouri. Some eighty papers are bound in these two volumes covering exploration, geology, mining, concentrating, roasting, smelting, electrolytic processing, residue fuming, refining, etc. All of this is laced with data on tonnages, processes, assays and efficiencies obtained, and the man-hours and equipment needed to achieve these performances.

Jan 1, 1970

By John B. Cook

Most of today's open pits take the form of conical-shaped excavations in the relatively flat or undulating terrain surrounding them. Ore is usually hauled uphill from the pit bottom by truck, rail, or skip to crushing, beneficiation, railroad loading, and stockpiling facilities near the edge of the pit. There are, however, a few orebodies whose locations in mountainous terrain causes special problems that generate different technical solutions. LAMCO's 10.5 million metric tons per year high-grade iron mine in the Nimba Range in tropical Liberia is probably one of the most extreme of these exceptions (Fig. 1). At Nimba there is a 2,000-ft difference in elevation between the upper- most levels of the orebodies and the start of the railroad below at the foot of the mountain. Haulage to the crusher is usually downhill at grades of up to 12% dictated by the topography of the rugged terrain. Ore is transported from the crusher down the mountainside by a conveyor sys- tem 10,096 ft long, whose average grade is 18%. The belt is braked by asynchronous generators, feeding power into the local network. The original crusher must be relocated at a lower elevation outside the final pit limit to allow that part of the mountain on which it now stands to be excavated. HISTORY The LAMCO Joint Venture is owned 75% by the Liberian-American- Swedish Minerals Co. (LAMCO) and 25% by Bethlehem Steel Corp. LAMCO is comprised of a 50% interest by the Liberian Government and 50% interest by Liberian Iron Ore Ltd (Fig. 2). This joint venture was launched to develop the high-grade iron ore deposits of the Nimba Range.

Jan 1, 1969