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By A. McLean, X. Men

"With high quality sulphide ores diminishing, nickel production from low-grade oxide ores becomes increasingly important and a major concern is the high sulphur level in the resultant ferro-alloy. So, desulphurization of the ferronickel becomes an important consideration. Red mud is a waste product of alumina industry and causes adverse effects on environment. In the present study, experiments were conducted to determine feasibility of using red mud as a major ingredient of refining fluxes for ferronickel desulphurization. In view of their influence on slag-metal separation, contact angle measurements between ferronickel alloy and molten slag made from red mud were also determined. INTRODUCTIONNickel is a very important metal that finds a variety of applications including consumer products, building, automotive and electronics. There are two kinds of ores containing nickel, namely oxide and sulphide ores. Anthony and Flett [1] reported that about 55% of the world’s nickel production originates from sulphide ores while the balance of new nickel is derived from oxide ores. However, oxide ores count for about 70% of the worldwide reserves. Apparently, oxide ores will play a significant role in the production of nickel in the future. Most of nickel produced using oxide ores is from pyrometallurgical processes namely ferronickel smelting or matte smelting. So, we can draw such a conclusion that using nickel oxide ores to produce ferronickel will become more and more important .Before used to make stainless steel or other materials, the ferronickel need pretreatment to remove impurities especially sulphur and phosphorus that will cause negative influence on the properties of steel product. Red mud is a by-product during alumina production. Usually, about 1 to 1.5 tons of red mud will be produced when we get 1 ton of alumina. About 90 million tones of red mud are produced every year in the world [2].Red mud is deemed as a toxic industrial waste which needs treatment before discharge because of alkalinity and chemical and mineralogical properties. Until now, the main means to deal with red mud are to store it in impoundments or dump it in the sea depending on local environment. Nowadays, how to recycle red mud has become a pretty hot topic around the world. The last 40 years have witnessed a lot of patent applications concerning the ways of red mud utilization. However, a little amount of red mud is consumed until now due to the limitations of recycling red mud."

Jan 1, 2012

By Xianxin Shi

In surface electrical exploration the high resolution earth resistivity method (HRRM) is a very effective method for detecting abandoned drift mines workings. When the abandoned mines are more than 500 ft (150 m) deep, its detection capability reduces greatly and requires more effort to implement. In Yan Quan coal mine, Shanxi province, we tried to adapt this method for underground application. Two survey lines were designed with the spacing of current and potential poles 20 m and 10 m, respectively and measuring points at 2m. The measurement radius of I line and I1 line were 140 m and 60 m, respectively, and the infinitely far pole was 1200~2000 m from the survey line. (Note the I and II lines are located on the north and south ribs of main tunnel, respectively). The survey results showed that abandoned workings were located at 25-70m, Survey Line I and at 80-1 10m, Survey line 11. Based on this finding, the longwall panel gateroads and set up entry were properly located thereby providing safe mining of the No. 15 Coal seam. Key Words: Abandoned coal mine, High resolution earth resistivity, Underground electrical exploration

Jan 1, 2005

By Michael J. Jorgensen, Pranathi B. Aedla, N. K. Kittusamy

Risk factors associated with the development of muscu­loskeletal discomfort and disorders during the operation of heavy mobile equipment include whole-body vibration and awkward and sustained joint postures of the shoulders, neck, and trunk. Cab design may influence awkward postures of the joints, and task duration may influence duration of exposure to awkward and static postures and whole-body vibration. To reduce exposure to risk factors related to the interface between cab design and task, it may be necessary for manufacturers to address cab design. This study assessed the repeatability of a cab design checklist developed to evaluate various design characteristics that can influence exposure to risk factors for musculoskeletal discomfort. The ability of the cab design checklist to identify posture-related deficiencies of design was also assessed. The checklist was used by two administrators across 10 pieces of heavy construction equipment. Video analysis was performed to quantify postures of the neck, shoulder, and trunk; correlation analysis was used to determine whether specific questions from the checklist were associated with the identification of awkward postures. The repeatability assessment resulted in kappa coefficients ranging from 0.52 to 1.0 (good-to-excellent reproducibility) across each piece of equipment, and an overall kappa coefficient of 0.77 (excellent reproducibility) when considering all equipment together. Results from the correlation analysis showed that shoulder flexion posture was correlated with scores from the cab design checklist. However, results of the cab design checklist were not significantly correlated with shoulder abduction or awkward postures of the neck and trunk. Results suggest that the cab design checklist may be useful for identifying cab design characteristics that need further improvement and for identifying design characteristics that increase shoulder flexion. The strength of the repeatability assessment suggests that outcomes of the cab design checklist administered by different individuals may be consistent, independent of the type of equipment being assessed.

By James A. Kiger

We at Colowyo would like to thank you for the opportunity to share with the Society of Mining Engineers of A.I.M.E. the progress of reclamation at Colowyo Coal Company's multiple seam open pit coal mine which is a general partnership of W.R. Grace and Co., and the Hanna Mining Co. First, a brief history of Colowyo Coal Company (Colowyo). The Colowyo operation is located approximately 28 miles southwest of Craig, Colorado, which is in the northwest corner of the state. The Colowyo operation produces coal from a Federal Coal Lease, a portion of which has experienced previous coal mining by underground methods. The underground coal mines were known as the Red Wing Mine and The Streeter Mine, and supplied coal to numerous locations in the Rocky Mountain region.

Jan 1, 1984

By George L. Gates

The Bureau of Mines studied pressure-buildup data from a number of California gas wells to determine if the reservoir properties calculated from these data correlated with field-observed reservoir properties. Pressure-buildup curves from 24 wells showed distinct changes in slope, indicating changes in permeability of the reservoir rock. Calculated distances from the wells to indicated permeability changes were in fair agreement with distances deter-mined in the field. Pressure-buildup curves from three wells had more than one distinct change in slope, indicating multiple permeability changes. Thus field data supported the theoretical relations used to calculate reservoir properties from pressure-time relations measured in gas wells.

Jan 1, 1967

By F. J. Alcock

THE Magdalen islands have recently been attracting attention as a possible source of manganese. As early as 1880 small masses of manganese oxides were known to occur in the soil and at least one attempt was made to develop them. In 1939, after the outbreak of war, interest in the possibilities of the field was again aroused and during the winter of 1939-40 claims were taken up by two groups of Toronto interests. The islands also contain large quantities of gypsum. During the summer of 1940, the writer mapped the islands geologically, giving particular attention to a study of the manganese occurrences. For a base-map, the chart of the islands was enlarged to a scale of half a mile to an inch. Additional roads were added from traverses carried out in connection with the geological work, and form lines with approximate 100-foot intervals were put on from barometer readings. The geological map is the first that has been prepared of the islands. Previous Work In the summer of 1880, James Richardson of the Geological Survey of Canada studied the rocks of the islands and his r~port concerning them appears as Part G of the Report of Progress, 1879-80. In 1903, J. Obalski, Inspector of Mines for the Department of Lands, Mines and Fisheries of the Province of Quebec, visited the islands, chiefly to investigate the occurrences of manganese and gypsum, and his notes are found in the report on mining operations in the Province for that year. Around 1890, Robert Chalmers of the Geological Survey paid a visit to the islands, and his observations, which chiefly concerned the surface geology, appear in the Annual Report of the Survey, Vol. VII, 1894, Part M, p. 94. The next geological work was carried out by John M. Clarke, Director of the New York State Geological Survey. Clarke paid many visits to Gaspé peninsula between the years 1900 and 1920, collecting fossils and gathering h1s~orical data, and extended his investigations of Gaspé county over to the Magdalens. His Observations on the Magda/en Islands is included in the New York State Museum Bulletin 149, seventh report of the Director, 1910.

Jan 1, 1941

By F. Soumis

We propose an advanced truck dispatching system which uses mathematical optimization approaches including integer programming, non-linear networks and the assignment problem. The system produces better operation control than existing algorithms. Furthermore, it provides planning tools for choosing equipment and finding an equilibrium between the quality and quantity of production.

Jan 1, 1986

By Kazuyuki Kakegawa

The sintering characteristics and the change in the compositional distribution in the PbTiO3 PbZrO3-Pb(Mgl/3Nb2/3)O3 system during the sintering process by spark plasma sintering (SPS) method were examined. They were compared with those by a normal sintering method. The densification by the normal sintering was slow even at high temperatures, When SPS method was employed, much lower temperature and shorter period resulted in sintered bodies having almost the theoretical density. As expected in normal sintering, the compositional distribution decreased as the sintered density increased. On the contrary, the change in the compositional distribution by SPS was much smaller than that in the normal sintering. This sintering characteristic of SPS suggested a possibility of fabrication of sintered material having a desired compositional distribution.-

Jan 1, 2003

By M F. Lee

Although the Mt Charlotte gold resource was discovered in 1893, it was only in 1954 that geologists correctly interpreted drill data and defined a large low-grade orebody. The mine has been a large, low-cost and profitable producer since 1962 when bulk mining commenced using cut and fill. From 1968 a combination of long hole open stoping with delayed mass blasting was used. This proved to be an excellent mining method for the large, separate subvertical orebodies. The structured but otherwise good quality rock allowed very large stopes to stand unsupported. Exceptionally large equipment, for its time, was used to efficiently mine, muck and move the ore at low-cost. The mine only just survived severe cost pressures in 1974-76, due to very low gold prices. Better gold prices in 1979 and a need to access deeper ore meant a bold commitment to sink the Cassidy Shaft and refurbish the mine to sustain future profitability. In 1997 the Sam Pearce Decline connected to the underground workings, making it profitable to mine upper level remnant ore. Mining-induced seismicity has been a feature of mining at Mt Charlotte. The main cause has been shearing on structures. A mine-wide seismic system was installed in 1994. Large seismic events have occasionally made management question whether a safe working environment can be maintained. Thorough investigations led to an understanding of the problem and development of procedures to minimise seismicity.

Jan 1, 2000

By Oliver Bowles

Wire saws have been used for many years in European travertine, marble, and slate quarries. This method of sawing found very limited use in America until 1927 when it was accepted as standard equipment in elate quarries in Pennsylvania where it has been remarkably successful. Details of its operation in slate have been published in a recent bureau report.3 The very limited extent to which the wire saw has been employed in limestone and marble quarries in the United States and the seeming lack of interest even in experimental work to determine its advantages are difficult to explain in vied of its wide use in cutting similar rocks in Europe and its unquestionable advantages in sewing slate in America. In order to encourage improvement in quarry practice the United States Bureau of Mines has endeavored to obtain information as to the extent to which wire saws are used in Europe together with data on the rate and cost of sawing. The information at hand is by no means complete either in territory covered or in details of operation; it nevertheless brings out certain significant features that may be of interest and advantage to quarrymen in the United States.

Jan 1, 1931

By V. D. Hanson

When maintenance of a plant or operation is under discussion immediately three "M's", all in short supply, are brought to mind - money, men and markets. This paper will present what currently is being done at our plants and its effect on the 3 "M's". Examination of coal realization figures (F.O.B. Mine) from 1945 to the present reveals the fact that open and free competition can and will meet market conditions. The industry, without benefit of advantages afforded tax and transportation wise to oil and gas, remains the backbone of the energy market of United States. Figure No. 1 shows the realization figures from 1945 through 1962 compared to the hourly earnings. Note that through 1945 to 1948 F.O.B. prices increased $1.93 per ton while hourly earnings increased $.66 per hour. Since 1948 (with the ex¬ception of 1957) F.O.B. prices have declined $.45/ton, while hourly earnings have increased $1.23 per hour. Basically the maintenance men possibly represent the highest increment rate in the overall hourly earning.

Jan 1, 1963

By Kenneth M. Bravinder, Jonathan E. Koogle, Dean H. Sheldon

THE solution of subsurface geological problems requires an analysis of vertical and horizontal dimensional relationships. For many, the ability to visualize structures in three dimensions is not easily acquired, and for areas where the structural conditions are complicated by faulting the need arises for illustrative models. This has led to the many forms of peg models, in which the usual course of construction includes a peg for the well bore, and the suspension of strings from peg to peg to illustrate the formation correlation between wells, thus developing the usual folds and flexures. Such models proved unsatisfactory for the analysis of fault problems. Consideration was then given to the use of transparent materials. A model of the Dominguez oil field was constructed in 1935, which consisted of a series of glass panels from well to well on which the formations were shown in color. This model, though serving its purpose at the time, proved to be impractical from the standpoints of cost, breakage hazard, and extreme difficulty in maintenance. The cost of materials was estimated to be approximately $300, and the construction required the services of one man for a period of from 10 to 12 months. Maintenance after actual construction was an additional expense. Consideration was then given to the use of celluloid, and after some experimental work it was found that the advantages in its use were: (I) a short construction time, (2) ease of handling the material, (3) sections are easily reworked, (4) low cost. CONSTRUCTION It would be of little value to recount here the difficulties encountered in the building of the first celluloid model. The conclusions drawn, however, suggest the following procedure for those who contemplate the construction of such a model: I. Determination of the Scale.-Accurate geological interpretation requires the use of the same scale horizontally and vertically. It should be emphasized that the limited size of the celluloid sheets (20 by 48 in. maximum dimensions), the area to be studied, the maximum depths to be plotted, and area of possible future development are the controlling factors in adopting a scale to be used. 2. Construction of the Base.-A satisfactory base may be constructed by using two pieces of three-ply wood separated by strips of i by 2-in. material. This type of construction prevents warping of the base. The size of the base is determined by the dimensions of the area to be studied plus 5 in. on all sides. A map of the same scale as that adopted for the model, indicating the lines of section to be used, should be fastened to the base. 3. Construction of the Frame (Fig. I).-In the construction of the frame the use of 1/2-in. o.d. pipe welded in a box shape is suggested, with two horizontal rods on each of the four sides, top and bottom. The top rod should be at least I in. higher than the

Jan 1, 1941

By A. Opara

The weathering of coal mine waste rock releases iron, calcium, sulfate and associated trace elements like selenium [Se], which are introduced to seepage waters. Nitrogen species, such as nitrate and ammonia, are also found in association with coal-mining drainages mainly due to leaching of residual blasting compounds. Elevated concentrations of Se are a ubiquitous occurrence in coal mining environments in British Columbia, with values ranging from below 50 to over 500 µg/L in site waters. Selenate is the most common form of selenium found in waste rock seepages, and is exceedingly mobile in aerobic freshwaters. A major concern with waterborne Se in British Columbia is the potential for its bioaccumulation in aquatic food chains. Treatment to remove Se from coal-mining wastewaters has proven to be challenging for conventional water treatment technologies. Compounding this challenge, many streams are characterized by high flows and low selenium concentrations. Conventional membrane and ion exchange treatments produce concentrated brine streams that are difficult to treat or require disposal. Conventional biotreatment systems use excess nutrients to provide the required electrons to compensate for inefficient and variable electron availability, as well as to adjust reactor chemistry. The Electro-Biochemical Reactor (EBR) technology provides electrons to the microbes directly at a low voltage potential (1-3 V), supplying a controllable and consistent supply of useable electrons to the system and microbes at low current. In this manner, the EBR technology overcomes the shortcomings found in conventional systems, as it reduces the required nutrient addition and provides a more controllable, efficient, economical, and robust biotreatment system than found in past generations of biological treatment systems. Additionally, the EBR process does not produce excess solids or biomass; therefore, solids management post-treatment is not required. Laboratory EBR bench-scale and on-site pilot-scale systems were used to treat five British Columbia coal mine wastewaters; influent Se concentrations ranged from 35 µg/L to 531 µg/L. Se treatment targets for the tested waters ranged from 5 to 10 µg/L. Mean Se concentrations in EBR effluents ranged from 0.5 µg/L to 1.4 µg/L, while reducing sulfate concentrations. The test data demonstrate that the EBR technology is an effective Se removal option for British Columbia?s coal-mining wastewaters.

Feb 23, 2014

The probability of detachment of quartz particles from air bubbles during bubble oscillations was investigated by means of a vibration method. Theoretical calculations of the detachment force based on the work of Nutt and Schulze for a single spherical particle show a correlation with the experimental results described. However, the forces that were determined experimentally were considerably lower than the theoretically derived values. Some of the factors which were expected to affect the probability of detachment, such as particle size, bubble size, collector concentration and vibrational acceleration, were also investigated

Dec 1, 1991

By C. J. Sparks, J. C. Ogle, E. A. Starke

DEFORMATION of cold-rolled fcc metals and alloys produces one or the other of two types of rolling textures, usually referred to as the copper type or the brass type. The pure fcc metals, with the exception of silver, develop the copper-type texture when rolled at room temperature. Silver, brass, and many other alloys develop the brass-type texture. Transition from one texture type to another can also occur. Solute additions to pure copper cause a transition from the copper-type to the brass-type texture.' Varying the deformation temperature also produces texture transitions. Copper rolled at -196°C developed the brass-type texture2 and silver rolled at elevated temperatures, 200°C, developed the copper-type texture.374 The work of Haessner,' Smallman and Green,6 and Hu and coworkers3'4 seems to have established an apparent correlation between the type of rolling texture (and the texture transition) and the stacking-fault probability. Thus materials with low stacking-fault energies are thought to develop the brass-type texture while high stacking-fault energy materials develop the copper-type texture. Mikkola and cohen7 measured by X-ray diffraction techniques the stacking-fault probability, a, in the ordered and disordered fcc alloy Cu3Au. Unexpectedly, ordered specimens showed about twice the stacking-fault probability as the disordered ones. Marcinkowski and Zwe118 also found stacking faults in ordered Cu,Au, but not in the disordered CusAu. More recently, Camanzi and coworkers9 have shown that the intrinsic stacking-fault energy of Cu3Au undergoes a considerable decrease (approximately 100 ergs per sq cm) when passing from the disordered to the ordered phase. In general, deformation reduces order'' but some of our measurements showed that some long-range order still remains in Cu3Au after cold reduction by rolling 80 pct. From the above considerations Cu3Au offers the possibility of studying the texture transition in fcc alloys without varying either the temperature or the composition. If the stacking-fault energy correlation is correct, an initially ordered alloy should develop the brass-type texture during rolling while a disordered alloy should develop the copper-type texture. The present communication describes some initial results of experiments designed to investigate this possibility. The rolling textures of ordered and disordered Cu3Au samples were determined after various amounts of deformation. The ordered sample had an initial long-range-order parameter of S = 1, determined from X-ray diffraction. The grain size of both the ordered and disordered samples was the same, and the initial textures of both were also identical and approximately random. No obvious differences in the deformation textures of the ordered and disordered materials were detected up to 35 pct reduction and the (111) pole figures of Fig. 1 resemble that of pure copper. However, with reduction larger than 35 pct and less than 50 pct, a marked deviation from the copper texture was noted in the ordered material. The newly developed orientation was close to the (110)[i12] ideal orientations re-

Jan 1, 1970

By J. B. Newkirk, W. G. Martin

Oxidized cobalt powder is known to have a magnetic hysteresis loop which is asymmetric with respect to the magnetization axis. The experiment described herein shows that the orientation relationship between the basal plane of hexagonal cobalt and the oxide which forms upon it at 400°C is {111}ux//{100.1 }co <110>ux//<11.O> This orientation relationship allows a magnetic interaction between the antiferromagnetic oxide and the ferromagnetic substrate which could account for the offset hysteresis loop. Oxidized nickel powder has a symmetrical hysteresis loop and so is apparently not influenced by any magnetic interaction between metal and oxide. The orientation of the oxide (cubic) was found to be identical with that of the nickel substrate when the oxide forms on a polished surface parallel with {111} Ni. IN 1956 W. H. Meiklejohn and C. P. Bean discovered that fine particles of cobalt which had been prepared in a certain way have a magnetic hysteresis loop which in a strong field is asymmetric relative to the magnetization axis.&apos; The cobalt powder exhibited this unusual magnetic property only after it had been oxidized in air or oxygen; it lost the shifted hysteresis loop when the oxide was reduced in hydrogen. X-ray and neutron diffraction&apos; experiments showed the presence of cobaltous oxide (COO) and hexagonal cobalt in samples exhibiting the biased hysteresis loop and specifically showed no indication of any other compound with the exception of mercuric oxide.* The magnetic hysteresis loop becomes symmetrical above the Nee1 temperature (paramagnetic state) of COO. Therefore, it was concluded that the anomalous magnetic behavior is associated with the influence of cobaltous oxide upon the metallic cobalt. It has been proposed that crystallographic coherency may exist between the cobalt and a plane of some antiferromagnetic material which has unbalanced spin distribution and sufficient magnetic anisotropy to hold its spin in the direction which existed when the specimen was cooled. COO has these properties. Therefore, Roth&apos; has suggested that cobaltous oxide may form with a {111} plane parallel and coherent with the basal plane of the hexagonal cobalt metal and proposed that, as consequence of the antiferromagnetic interaction between COO and the underlying cobalt, the magnetization direction in oxidized fine Co particles may be ro-lated from the easy c-direction.2 Such a relationship, he proposed, would explain the observed magnetic effect in oxidized cobalt powder. The main purpose of this study was to determine the orientation relationship, if any, between the basal plane of cobalt and the oxide which forms upon it. Attempts to produce a film of COO which was strong enough to be handled were not successful. However we did succeed in making a film of CoCo2O, which was strong enough to be removed from the cobalt substrate and mounted on an electron-microscope grid. Because of the close structural similarity of COO and CoCo2O, we believe the orientation relation found for CoCo2O, on cobalt probably also holds for COO on cobalt. The epitaxial relationship of NiO and Ni also was investigated. To date no shifted hysteresis loop has been observed with nickel powder. However, the similarity of atomic array in cobalt and nickel leads to the prediction that a {111} of NiO may be parallel with a (111} of nickel. Experimental Method Cobalt-Cobalt Oxide—A coarse-grained specimen of a (hexagonal) cobalt was prepared by allowing a large crystal of fee cobalt to transform slowly at 400°C. The crystal was then cut to expose a surface parallel with the basal plane. A back reflection Laue X-ray photograph showed that the 00.1 plane was within 2" of the cut surface. The surface was mechanically polished and then electro polished in 85 pet orthophosphoric acid after which the crystal was held for 30 min at 400°C in air. During this heat-treatment the surface darkened slightly due to the oxide film which formed. The film was not thick enough to give an X-ray diffraction pattern, even by a glancing-angle technique. Glancing-angle electron diffraction was not possible either, owing to the interference of the electron beam with the high magnetic fields which exist at the 00.1 surface of the cobalt. However, it was possible to make an electron-diffraction photograph of the oxide film by stripping it from the cobalt substrate using the method described later. By maintaining reference marks carefully, it was possible to preserve the orientation relationship between the stripped film and the substrate on which it was formed. The oxidized surface of the crystal was first covered with a 1 pet solution of collodion (cellulose nitrate) in amyl acetate. When the film was dry, small rectangles were scored on the surface with a needle point. The specimen was then repolished

Jan 1, 1959

By M. Zaki Rashad

In this paper, if three slant distances are measured from three given points of known coordinates to an unknown point, the position of this point (X, Y, and Z coordinates) can be determined. A computer program was designed for observing the movement of a point in the roof in Abu-Tartour mine (western desert, Egypt) to measure the convergence. This method, for general using, is very fast and can be applied without any restrictions.

Jan 1, 1990

By Y Gu, W McCallum

Mathematically sophisticated methods are now in common use for metal balancing of complex separation flow sheets at many concentrators. These balances usually entail minimisation of the sum of weighted squares of data adjustments subject to flow sheet constraints. The adjusted data provides numerical consistency across the complete flow sheet to facilitate performance calculations. A mine with multiple ore sources can be considered as a flow sheet with the end node comprising the concentrator and its products concentrate(s) and tailings. If the mass transfer and grade estimates for each ore source are sufficiently reliable, a similar metal balancing approach can be used for combined mine and concentrator data. Comparison of balanced and measured assays and mass movements provides useful guidance to security of marginal grade ore and possible dilution problems. This paper includes a summary of results from a case study based on a mine with multiple ore sources.

Jan 1, 2002

By Russell Franks, W. O. Binder

In recent years a considerable tonnage of the 18 per cent chromium and 8 per cent nickel steels has been used in lightweight high-strength structures that must be resistant to deterioration under atmospheric conditions. These steels are austenitic in character and their strength can best be increased by cold-working. Although a marked increase in tensile strength is obtained, claims have been made that the cold-worked steels do not possess fully satisfactory elastic propertics. Under certain conditions, however, this has caused no great concern, because, as explained by Ragsdale,1,2 he cold-rolled steels have been widely applied for construction of lightweight, high-strength trains using spot welding for joining purposes. Ffield3 agrees that the ease with which thin sections of the cold-rolled 18-8 steels can be joined by spot welding is greatly in their favor, but that they would be more satisfactory if higher elastic properties and a higher modulus of elasticity could be obtained. He states that, as far as the mechanical properties are concerned, the straight chromium stainless steel is superior to the cold-worked 18-8 steel, and in order to illustrate, he prcsented the data of Fig. 1, which also give a stress-strain curve for a low-carbon 13 per cent Cr steel. Ffield† proposed that columbium-bearing or titanium-bearing cold-rolled 18-8 steels be given a heat-treatment (preferably for 1 hr.) in the range 400" to 600°C. to precipitate carbides in order to obtain better mechanical properties. Discussions by Sutton,4,5 de Ganahl,6,7,8 Krivobok and Lincoln,&apos; Knerr,l0 and Thaden11 have given further information on the properties of the cold-rolled 18-8 steels compared with other materials used in lightweight, high-strength structures. These investigators and others point out that the ultimate tensile strength of the cold-rolled 18-8 steel can be increased to 200,000 lb. per sq. in. or higher; Krivobok et al. indicate that

Jan 1, 1940

By L. D. Clark

Pay-out, the ratio of capital expenditure to annual cash return can be very revealing when employed to gage the merits of a proposed mining venture. It is a quantity, numerically but not physically equal to a factor, by which cash return may be discounted to equal required investment. The fewer the pay-out years, the greater the average annual earning power of the project. Considerable material has been written in the past about the most important and difficult problem mining management faces in evaluation of a property: the optimum production rate for the venture. What daily capacity should be adopted for the proposed operation that it may be the most rewarding to those underwriting it? H.C. Hoover has said, "The most important objective is the least cost per ton mined; and minimum working costs can only be gained by the most intensive production." Theoretically and practically, the quicker the ore is removed, the more profitable should be the venture because of the saving in fixed charges, the consequent lower unit costs and the interest unearned by the profit from the unmined ore. Yet, such performance will be tempered by policy and a restraint imposed by the ratio of capital expenditure to annual cash return. * The &apos;Annual net profit after taxes but including depreciation and depletion allowances. former will be based upon an analysis of the economic climate anticipated, with its many ramifications including the demand for the product, prices, tax laws, the conduct of labor and related wage scales. The variables and intangibles involved in estimating the optimum production rate for a mine do not readily lend themselves to mathematical relationships or equations and the problem can become complex indeed. The more readily applicable and relatively faster appraisal method will be used which, in addition to being reasonably adequate in most cases, will serve as a guide, should a more expanded and detailed estimate be desired. The first question is what is company policy with respect to the rate of investment return? This will depend on that significant period of time referred to as the pay-out, which can be defined as the estimated interval during which capital investment is returned through application of annual cash return to its recovery. Expressed another way, it is the ratio of capital expenditure to the annual cash return. For example, if the capital investment is $C and the annual cash return is $A (after Federal tax), then $C/$A = the pay-out period in years. That is to say, if $C = $1,500,000 and $A = $214,000, then which is the mathematical expression for the period of time it takes to recover the funds originally invested in a mining enterprise. The relationship yp = $C/$A can be useful — an expression which requires only the significant tern yp to be fixed; in other words, the long range investment policy. For what is the pay-out period but an expression of that policy in terms of the speed, within practical limits, with which an individual or company may want to recover capital expenditure? A policy by which pay-out will be fixed is imperative. This ratio must lie within relatively narrow limits governed by what is economically feasible. It cannot be too low, rendering the ratio impractical or absurd, nor too great, delaying the return of capital for reinvestment beyond a commensurate interval. What pay-out will govern this policy? Federal corporate taxes would seem to present the best measure. Consider mining in Canada where new mines are exempt from Federal income tax for 3½ yr from date of first production. This exemption expressly allows The Act states: "A corporation . . . i s not required to include the profits . . . for the period of 36 months commencing with the day on which the mine came into production in reasonable commercial quantites." a company to recover capital expenditure during the early stages of production. With such an incentive, it is logical to strive for as much capital redemption as possible during this period. Thus, 3½ yr would be a major contribution to the pay-out in Canada. Furthermore, it generally takes from 1½ to 3 yr to develop

Jan 1, 1963