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By Sidney Snook

FLUORSPAR production is the most important industry in a compact area in southern Illinois and western Kentucky bordering the Ohio River. Producers' activities do not usually figure much in the mining news of the country, so that few know that the last year or so has been an unusually active one. Mine shipments more than doubled in 1939 compared with the poor year 1938. The average price changed but little, though it is now about one-sixth higher than at the beginning of last year. The outbreak of war in Europe a year ago lent an immediate stimulus to the industry, though only about 15 per cent of the domestic consumption is normally imported, thanks to a tariff of $8.40 per ton, equivalent to about 30 per cent ad valorem. Be- cause of the increased production and many expansions and improvements in the mines and plants, the period since the beginning of 1939 has been the most important one for the industry in the last 15 years.

Jan 1, 1940

By AIME AIME

The Bulletin. As already announced in the January Bulletin, this publication will be issued during the coming year monthly instead of bi-monthly as heretofore. Among other reasons for this change, it is desired to effect thereby the earlier transmission to members of important papers, lists of candidates for membership, and other items of timely information. The New Haven Meeting. As already announced in special circular, the XCVIth meeting of the Institute for the reading and discussion of papers will be held at New Haven, Conn., beginning Feb. 23, 1909. The Secretary of the Local Committee is Prof. J. D. Irving, Box D, Yale Station, New Haven. The program embraces visits to many interesting works in New Haven, Ansonia, Bridgeport, etc. The leading topics for discussion at the sessions will be: The Conservation of Natural Resources; A Sea-Level Canal at Panama; and The Technical Education of Mining Engineers. But papers on other subjects also are announced. A supplementary session of this meeting will be held in New York City, at some time during March, 1909, as a joint session with other national engineering societies, for the further discussion of the subject of The Conservation of Natural Resources. A Pacific Coast Meeting. The XCVIIth meeting will be held on the Pacific Coast, including a visit to the Exposition at Seattle, and various other points en route going or coming, depending upon the route and program finally adopted. More definite information will be announced at the New Haven Meeting, or at the earliest possible date thereafter.

Feb 1, 1909

By C. David Mann

Metal prices continued to improve in 1964, resulting in the opening of new mines and re- activation of old ones. Larger and deeper shafts are being bored. At the AEC's Nevada Test Site, a 72-in. diam shaft is being bored to 3200 ft. In New Mexico a 1650-ft shaft was bored with a 48-in. bit, then reamed to 124 in. to 935 ft, and 102 in. to 1650 ft. Deviation was only 26 in. In California a shaft sinking machine has been developed which combines drilling and mucking equipment into one mobile, integral unit.

Jan 2, 1965

By R. U. Jackson

FACED with rising costs, the mining industry is looking to new methods and equipment to supply the relief necessary for profitable operation. Conveyor transportation is rapidly taking a superior position to motor tramming in underground mines because of lower installation, maintenance, and operating costs. Haulage is always a critical problem in underground mining. The ease of operation and flexibility of a haulage system can have an important effect on ultimate mining cost. With the average tenor of ores on the downgrade, larger tonnages are required for the same metal recovery. This selection of a tramming system can be the key to a successful, paying plant. Because this shift is being made at an ever advancing rate, it may become necessary to tailor mining operations to the transportation system, rather than to select a haulage system fitting set mining methods. In choosing a haulage system, the relative costs of the various methods are of the greatest importance. Adapting the mine to one or the other type of tramming is not considered in the cost analysis, and very likely would make little difference, outside of location of drifts and raises. In the cost sheet, the problem presents recommendations for a conveyor installation and a comparison of equipment, installation, operation, maintenance, and power costs are made. Under the track haulage estimate, no allowance was made for dumping equipment at the shaft pocket or bin. If this equipment was added to the balance sheet, the additional

Jan 1, 1952

By R. B. Full

DURING the summer of 1949, the United Nations Scientific Conference on the Conservation and Utilization of Resources met at Lake Success. As summed up by one writer, the purpose was: "That everyone will try to learn how to feed more people from an acre of land." That objective is a stimulus to the phosphate rock industry as well as other industries. Phosphate rock was mined first in the Canadian province of Quebec where it was found as an apatite in pockets. In 1863, mining began near the Rideau Canal, first in open trenches and quarries until shafts were sunk. These operations were difficult since hard rock had to be drilled and blasted. Steam was the source of power. The phosphate rock was hand-selected and recovery ranged from 6 to 10 pct, averaging 70 pct to 85 pct bpl (bone phosphate of lime). Costs, f.O.b. Montreal, were $14 a ton, and selling prices averaged $17 a ton. In 1885, about 29,-000 tons were sold on this basis, but by 1892 the output fell to 8000 tons at an average price of $15 a ton at Montreal. South Carolina Deposits Phosphate rock was first discovered in South Carolina in 1837, but a mining company was not formed until 1867. It was immediately successful, and the industry continued to develop and ship an increased tonnage of land and river rock, shipments increasing from approximately 20,000 tons in 1868 to 537,000 tons in 1890, when the shipments began to decrease. In 1892 only 350,000 tons were shipped. In this field there were two types of deposits: land rock and river rock. More land rock tonnage was mined until about 1887 when river rock production began to equal it. The land rock was mined adjacent to and in the river marshes by pick, shovel, and wheelbarrow. Each worker dug daily a space 6 ft wide, 15 ft long and 6 ft deep, which was overburden, and then loaded about 3 cu yd of phosphate rock into wheelbarrows. His helper would wheel the barrows to small steam railroads up to 250 ft distant. Water was kept from the pits by steam pumps connected to railway cars. The phosphate rock was loaded into railroad cars, hauled and dumped into a log washer to which water was added, and run over trommel screens to eliminate the clay and loose sand. Steam shovels for loading were introduced about 1891. River rock was mined by floating dipper dredges and at low tide was loaded into barges by laborers using oyster tongs, the large lumps being hand-loaded. Barges and bateaus were unloaded by wheelbarrows which were wheeled to the same type of land rock washers. The washer product was piled with stacked pine cordwood in alternate layers and fired for drying. Usually this was done under sheds along the river bank. The dried rock then was transferred to ships, usually three or four-masted schooners. Cost of production of both land and river rock, including $1 a ton royalty paid to the state for state-owned property, was approximately $4.25 a ton averaging 60 pct bpl. The selling price was approximately $7 a ton f.O.b. In 1886 the courts handed down a decision permitting anyone to mine, and many additional companies were organized immediately. As a result, the selling price was lowered to a profit margin of 50Ø or less per ton. The South Carolina mines were eventually shut down when a more profitable source of phosphate rock was discovered in Florida. Florida Deposits Phosphate rock was discovered in Florida in 1882, and in 1883 a small quarry was opened near Hawthorne. In 1886 phosphate rock of good grade was discovered on Peace River, and the Arcadia Phosphate Co. was formed. In 1888 the company began shipments amounting to 3000 tons that year. During the latter part of 1888, hard-rock phosphate was discovered near Dunnellon. Exploration extended rapidly, and deposits of hard-rock phosphate were mined over a wide area so that shortly after 1900

Jan 1, 1952

Jan 1, 1893

By O. Mellgren, A. M. Gaudin, P. L. De Bruyn

The adsorption density of ethyl xanthate on pyrite was determined as a function of xanthate concentration. Surface preparation of the mineral appears to have asafunctionsome effect on the subsequent adsorption process, A monolayer of xanthate on the surface is exceeded only in presence of oxygen. The effect of OH- , HS- (and x and CN- S=)and on the amount of xanthate adsorbed was investigated. Competition between OH- and X- (xanthate) ions for specific adsorption sites is indicated over a wide pH range. IN the flotation of sulfide ores, xanthates are most commonly used to prepare the surface of the mineral to be floated so that attachment to air takes place. The quantity of agent required to make the mineral hydrophobic is usually very small, of the order of 0.1 to 0.25 lb per ton of mineral. Details of the mechanism of pyrite collection are for the most part unsettled. Adsorption of collector has long been believed to involve an ion exchange mechanism as demonstrated for galena' and for chalcocite.2 In the work on chal-cocite it was also demonstrated that a film of xanthate radicals unleachable in solvents that dissolve alkali xanthates, copper xanthate, or dixanthogen was formed at the surface of the mineral. The unleachable product increased with increasing addition of xanthate up to a maximum corresponding to an oriented monolayer of xanthate radicals. Pyrite is extremely floatable with xanthate if its surface is fresh.9 ut the floatability decreases rapidly as oxide coatings increase in abundance. Pyrite shows zero contact angle when in contact with ethyl xanthate solution at pH higher than about 10.5;4 at neutrality, a contact angle of 60" is obtained at a reagent concentration of 25 mg per liter. Alkali sulfides and cyanides are pyrite depressants. In this study of pyrite collection the writers have sought to relate measured xanthate adsorption to the method used in preparing pyrite, to the presence or absence of oxygen, to concentration of hydroxyl, hydrosulfide, sulfide, and cyanide ions. The principal experimental tool has been radioanalysis," " using xanthatcx marked with sulfur 35. Experimental Materials Pyrite: Unlike most sulfides, pyrite is a poly-sulfide. The structure given by Bragg7 resembles that of sodium chloride, the iron atoms corresponding to the position of sodium and pairs of sulfur atoms corresponding to the position of chlorine. The edge of the unit cell in pyrite is 5.40 A and in halite 5.63 A. The S-S distance in pyrite is 2.10 A; the Fe-S distance, 3.50 A: and the Fe-Fe distance, 3.82 A. Natural pyrite from Park City, Utah, was used in this investigation. Pyrite 1 was obtained by hand picking pure crystals. Pyrite 2 and Pyrite 3 were obtained from finer textured crystalline material containing inclusions of silicates. The same cleaning technique was utilized for the preparation of Pyrite 2 and Pyrite 3, whereas a different cleaning technique was used for Pyrite 1. Pyrite 1 was prepared as follows: The crystals were ground in a porcelain ball mill and the 200/400 mesh fraction was separated by wet screening with distilled water, followed by washing for 1 hr with deoxygenated distilled water acidified with sulfuric acid to pH 1.5. The acid was removed by rinsing with deoxygenated distilled water on a filter until a pH of 6.0 was reached in the effluent. This filtration was carried out under nitrogen. The sample was then dried in a desiccator under nitrogen. The period of time for which this pyrite sample was in contact with water containing oxygen was about 4 hr. The specific surface as determined by the BET gas adsorption method was 582 cm2 per g. Final material assayed 53.12 pct sulfur and 46.5 pct iron (theoretical, for FeS,: S, 53.45 pct; Fe, 46.55 pct). After crushing, Pyrite 2 and Pyrite 3 were washed with 1 M HCl. rinsed, and fed to a laboratory shakinq table to remove the small amount of silicates. The concentrate obtained was ground in a laboratory steel ball mill. The 200/400 mesh fraction was separated by classification in a Richards hindered settling tube. This fraction was then given a final wash with 0.1 M HCl and deoxygenated water was filtered through the sample. The final effluent showed a conductivity equivalent to that of a solution having a salt concentration of 0.3 ppm. Aqueous hydrogen sulfide solution was then added to the sampln (about 100 ml saturated H,S solution to about 1000 g pyrite under a few hundred milliliters of water) which was stored wet under nitrogen. The sample stored in this manner showed no indication of formation of iron oxides, whereas iron oxides appeared

Jan 1, 1957

By Walter R. Hibbard, George H. Eichelman, William P. Saunders

INTEREST in the various products of the austenite eutectoid transformation in iron-carbon alloys, particularly as produced by the isothermal sub-critical techniques introduced by Davenport and Bain,1 has resulted in the application of similar heat treatments to other eutectoid transformations. Studies2.3.4 of the beta copper-aluminum alloy eutectoid transformation revealed microstructures very similar to those found in iron-carbon alloys. Investigations5,6 of the kappa phase in the copper-silicon alloy system have established the eutectoid type transformation of this phase into terminal alpha and intermediate gamma phases. This transformation has been reported' as forming a eutectoid type structure in a very sluggish manner by a long time isothermal treatment. The purpose of the present investigation is to study the products of the kappa eutectoid transformation as affected by transformation temperatures by means of microscopic and hardness methods. PREPARATION OF ALLOYS The copper-silicon alloy equilibrium diagram is shown in Fig I. The kappa field converges to a minimum silicon solubility at the eutectoid composition and all other completely kappa alloys are hypereutectoid. Thus, kappa decomposition involves first the proeutectoid precipitation of gamma, followed by the eutectoid transformation of a lower silicon content kappa (5.2 pct). Smith5 has indicated that alloys containing between 5.4 and 5.7 pct silicon could be hot rolled, but that the latter composition was desirable in order to permit a wider kappa temperature range. The alloy was prepared by adding Baker's commercially pure silicon to an ingot of copper-silicon alloy containing 2.34 pct silicon remaining from the investigation of Brick, Martin and Angier.7 Following the casting techniques of Krynitsky, Saunders and Stern,8 the ingot was melted under a heavy layer of dried charcoal in a clay-graphite crucible in a gas-fired pot furnace. Small lumps of silicon were held under the melt surface with a graphite rod. After the silicon had dissolved, the alloy was chill-cast and then remelted without a cover, stirred thoroughly, skimmed and poured into a preheated cast iron mold. The cast microstructure is shown in Fig 2. The casting, 10 X 4 X ¾ in., was annealed at 750°C for 21 brand furnace cooled. About 1/16 in. was milled from all surfaces. The plate was cut in half longitudinally and the bottom half analyzed by A.S.T.M. methods.9 The composition by weight was as follows: copper 94.24 pct, silicon 5.56 pct, iron 0.11 pct.

Jan 1, 1948

By Arnulf Muan, R. E. Johnson

Equilibrium CO2 /CO ratios of a gas phase coexisting with selected oxide phase assemblages of the system CaO-"Fe0"-SiOz and vnetallic iron have been determined at 1080°C. The data obtained are used to calculate activity-conzposition relations for metasili-cute, orthosilicate, and CaO- "FeO" solid solutions, and to determine a new value for the free energy of formation of C&S&0,. The metasilicate solution is practically ideal, whereas large deviations from ideality exist in the othe,r two solid solutions. BECAUSE of the geochemical and metallurgical importance of the oxides CaO, "FeO", and SiOz, the system CaO-"FeO"-SiO2 has been the subject of several experimental studies during the past 30 years. Following the delineation of phase relations at liquidus temperatures by a group of investigators at the Geophysical Laboratory of the Carnegie Institution of Washington in 1933,1 Chipman and associates in the early forties2,3 determined activities of FeO in liquids of this system. Since that time, many attempts have been made to interpret the data of Chipman et al. in terms of the constitution of the silicate liquids and the interaction parameters among the various constituents of the system (see for instance papers by Richardson4 and by Flood and coworkers5). One of the assumptions made in some of these interpretations4 is that the binary silicate systems CaSiO3-FeSiO3 and CazSi04-Fe2SiO4 mix ideally in the solid state. The objective of the present study is to provide experimental data on activity-com position relations in solid solutions of the system CaO-"FeO"-SiO2. Such data will contribute toward an understanding of the thermodynamics of silicate solid-solution phases in general, and will serve specifically to confirm or refute some of the assumptions made in interpreting liquid slag behavior. PREVIOUS WORK Phase relations in the system CaO-"FeO"-SiO2 in contact with metallic iron were determined by Bowen, Schairer, and Posnjak,1 and additional phase-equilibrium data for this system have been presented by Allen and snow.' A reproduction of the most up-to-date phase diagram for this system is shown in Fig. 1.7'8 Of particular interest in the present investigation are the relations among the various crystalline phases slightly below the lowest solidus temperature in the system, as shown in Fig. 2. The present work will be concerned primarily with some of the composition

Jan 1, 1968

By J. Norman Bulkley

As electrical power is used to a greater extent on the Rand than in any other mining center, it is thought that a short description of the methods used and results obtained may be of interest. In comparing Rand practice with that on other fields, several general factors should be borne in mind: First, the mines are all working on large tonnages of low-grade ore (average $6.50). The annual crushing rate is about 27,000,000 tons. Second, the mines are all grouped under the financial and engineering control of mining houses, so that the results of a group, rather than an individual mine, are open for study, and practice follows more uniform lines. Third, coal of fair quality (about 12,000 B.t.u.) can be obtained for $2 to $3 per ton. Good supplies of condensing water are, however, scarce, and have to be carefully stored. Power Supply Power is supplied by the Victoria Falls & Transvaal Power Co., Ltd., and its subsidiary, the Rand "Mincs Power Supply Co. Both companies, which are practically one from an engineering point of view, operate the following stations, all fecding into the same system. Capacity Installed Turbo Capacity Installed Steam-Tur- Station Alternators bine Dliven Centrifugal Compressors Brakpan............... Two 12,500-kw. sets Two 3,000-kw. sets Simmer Pan............... Six 3,000-kw. sets Rosherville................ Two 11,000-kw. sets Six 3,500-kw. machines Five 9,600-kw. sets Three 7,000-kw. machines Verckniging ............. Two 9,600-kw. sets Two 12,000-kw. sets 162,200-kw. sets Total steam-tkbine capacity installed, 204,200 kw. There are also at the Robinson Central air station six motor-driven centrifugal compressors, each of 3,500 kw., equal to 22,000 cu. ft. per minute at 120 Ib. capacity at 3,000 r.p.m. Power is supplied from these stations as 50-cycle, three-phase current generally at 40,000 volts,

Jan 1, 1916

By E. J. Haug, K. L. Clifford, K. L. Purdy

St. Joe’s Minerals Corp.’s Southeast Missouri Mining and Milling Division produces lead, zinc and copper sulfide concentrates at three of its operations. The Viburnum and Fletcher mills have been described in previous papers. The new Bushy Creek mill, dedicated in May of 1973, is an updated version of the Fletcher mill incorporating 8.5m3 (300 cu ft) lead and zinc

Jan 1, 1980

By D. C. Sisti

A technical evaluation of actual performance of the preparation facilities at Beaver Consolidated Coal Co.'s Stinson plant is presented, with special emphasis on sulfur reduction in 1-1/2 x 3/8 in., 3/8 in. x 28 mesh, and 28 mesh x 0 size fractions. Evaluation of the heavy medium section of the plant and the treatment of the 28 mesh x 0 coal is included. Design criteria considered for sizing and selection of equipment required to process 1-3/4 million tpy of raw coal on coals of divergent washability characteristics are summarized.

Jan 1, 1976

By AIME AIME

BY COMBINING the sessions on reduction and refining of copper, lead and zinc it was possible to devote an entire day to nonferrous metallurgy. Four interesting papers were presented at the morning session and four more in the afternoon. In the discussion of papers on copper, F. R. Pyne acted as chairman, with H. M. Shepard as vice-chairman, whereas for those on lead and zinc, F. F. Colcord acted as chairman, with C. R. Hayward as vice-chairman. The paper by P. D. I. Honeyman on the smelting of raw concentrates in the reverberatory furnace was presented by Mr. Pyne and discussed by Messrs. Mazany and Hayward. The interesting paper by E. S. Bardwell, com- paring the use of various fuels in copper-refining furnaces at Great Fails, Mont., was presented by Mr. Shepard and discussed by Messrs. Boggs, Gronningsater and Hayward. That by R. G. Knickerhocker, describing the stationary basic copper converter at Messina, Transvaal, was presented by Mr. Pyne, together with a written discussion by c. R. Kuzell, of the United Verde Copper co. It was an interesting illustration of how well-known processes may sometimes be modified to fit into unusual conditions.

Jan 1, 1932

By B. Post, D. Moskowitz, F. W. Glaser

Lattice parameters of various hafnium compounds, two borides, a carbide and a nitride were determined. Some physical properties were measured and comparisons with the properties of the corre-sponing zirconium compounds were drawn. A LTHOUGH borides of transition metals have A been extensively investigated in recent years, there are few references in the literature to borides of hafnium. This is not surprising, in view of the extreme scarcity and great cost of the purified metal. Becker' reported the existence of a boride, carbide, and nitride of hafnium; he listed the formulas as HfB, HfC, and HfN. However, in his work no mention was made of chemical analyses of the reaction products. In this paper results of a study of various hafnium compounds, including borides, carbides, and nitrides, are reported. It was expected, of course, that these compounds would closely resemble their zirconium analogues, which have previously been extensively investigated. Three borides of zirconium are known: ZrB,² ZrB,² and ZrB212.4 In addition, one carbide, ZrC,5 and one nitride, ZrN,5 have been reported. It should be noted that ZrB and ZrB12 are stable phases only in relatively high-temperature regions, unlike ZrB2, which is stable from room temperature to its melting point." It was felt that hafnium would yield corresponding borides, carbides, and nitrides with similar stability ranges. Experimental Procedures and Results A quantity of hafnium metal that was better than 97 pct pure, with zirconium as its major impurity, was furnished by the Argonne National Laboratories. The boron powder used was approximately 96.5 pct pure. In general, the procedure involved mixing the metal and boron powders in the desired proportions, and subsequently hot pressing them. The resulting specimens were analyzed chemically and phases present were identified by X-ray diffraction methods. A Philips Norelco Geiger counter spectrometer was used for identification of components and for measurement of lattice constants. Filtered copper radiation was used for all X-ray work. Electrical resistivity and density measurements were carried out at room temperature. The stable diboride, HfB2, will be described first. Stoichiometric quantities of boron and metal were heated to approximately 2000°C during hot pressing. The reaction product was shown by X-ray diffraction methods to be isomorphous with ZrB2 (space group Dlgh; P6/mm). Values of lattice constants of HfB2 compared with those of ZrB2 are shown in Table I. The calculated density of HfB2 is 11.2 g per cc, compared with a measured (pycnometric) value of 10.5 g per cc. HfB2 specimens prepared under a wide variety of conditions (including variations in initial Hf-B ratios) showed only insignificant variations in lattice constants, indicating a very narrow range of homogeneity. Like ZrB2,7 HfB2 is an excellent electrical conductor. The resistivity at room temperature of hot-pressed samples, approximately 85 pct dense, is 12 microhm-cm. This compares favorably with the electrical resistivity of 10 mi-

Jan 1, 1954

By John W. Brauns, David H. Orr

9.1-1. Description and Basic Function. A conventional railroad haulage system for a surface mine performs the function of transporting the ore and/or waste out of the pit to a crushing plant or dump. Trains consisting of a locomotive and gondola or side-dump care suitable for loading by power shovels are used. Gondola cars are restricted to hauling ore as a rotary dumper is required to unload them. Side-dump cars are more versa- tile, being satisfactory for carrying both ore and waste; but because of their additional dumping mechanism they are likely to be more expensive to maintain (12). Also they weigh up to two times as much as a flat-bottom car of the same capacity, and, therefore, fewer cars can be hauled per train. Standard-gauge track is most commonly used. Track systems incorporate temporary track of low quality in areas where moves are frequent and permanent track of high quality on main lines. Rail haulage enabled open pit mining to establish its reputation, for efficiency. Prior to World War II it was the principal type of transportation used in large pits. Other successful surface mine haulage methods have been developed since that time. These have served to supplement railroad transportation, permitting selection of a method that is best adapted to the peculiar requirements of each mining project. 9.1-2. General Applicability and Controlling Physical Conditions. For handling rough rock, the shovel-train system is unexcelled (6). The ideal application is in a physically large, but not excessively deep, open pit mine from which the coarsely blasted ore and waste must be transported distances in excess of three miles. If, in addition, a high production rate is to be maintained, railroad haulage will probably afford a lower cost per ton transported than will any other haulage method. Relatively gentle

Jan 1, 1968

By G. R. Kotler, W. A. Tiller, W. C. Johnston

Experiments carried out on 100 g samples of molten tin and Sn-Pb alloys showed that the magnitude of the field strength, H, does not effect the supercooling, aTn, at which the initial nucleus of solid forms. However, the nuwlber of nuclei forming per cc, n, is found to increase greatly with H for fixed ATN and to increase with ATN for fixed H. The value of n increases greatly with the presence of solute and is found to he indefiendent of the cooling rate of the simples. Further, the most effective time for stirring to enhance n is immediately following the initiation of recalescence. The effect of inducing nucleation with the aid of a mechanical impact both in the presence and absence of stirring has also been studied. All proposed mechanisms for the enhancement of n by physical means seem to be inadequate in accounting for these results. IN any real nucleation experiment there are two effects influencing the results that would not be predieted from classical homogeneous nucleation theory. These may be separated into chemical and mechanical effects. The chemical effects are twofold. 1) Nucleation catalysts are present which enhance the nucleation frequency of new grains over that predicted by classical homogeneous nucleation theory.' 2) Solute will restrain the growth of nuclei so that many others may form.2,3 The mechanical effects are also two-fold. 1) Vibration (sonic or ultrasonic) of the freezing liquid enhances the nucleation frequency of new grains over that given by the chemical effects alone.4-6 2) Macroscopic fluid-flow effects produce the same effect as l).'7' It is also possible to influence the nucleation experiment by certain physical effects such as the application of electric and magnetic fields.9 From classical homogeneous nucleation theory one would predict the following relationship between the nucleation rate, N1 (number of nuclei formed per unit volume per unit time), and bath supercooling, AT, for an isothermal experiment.

Jan 1, 1963

By R. E. Allen

THERE was once a time when a practical oil man would appraise or buy a producing property on the basis of from $200 to $500 per barrel of average daily settled production. Curtailment-has, for the present at least, caused a virtual abandonment of the "barrel -of settled production" as a yardstick of, oil property value and in its place has come the "barrel of allowable production," which, although an artificial thing, is nevertheless now the principal factor governing the rate of ?pay out? or investment return. The potential production of a well, settled or otherwise, is of less importance in determining the present worth of a well than is the rate at which it may be produced. Speaking only of true potential for the moment, it is obvious that of two similar wells having the same potential, the one having the highest rate of allowable production would be worth proportionately more than the one of lesser allowable. The discount factor for deferred return and risk can easily vary the present values of the two wells by as much as 20 per cent when allowable rates are not greatly different.

Jan 1, 1934

The industrial might of the Bowen Basin is primarily the result of Utah Development Co.'s work- which has opened up the Blackwater, Goonyella, Peak Downs, and Saraji mines; built the Hay Point port; and is now developing the Norwich Park mine.

Jan 1, 1977

United Engineering Trustees, Inc James L Head, '55, E C Meagher, '56, Gail F Moul¬ton, '57 Advisory Committee to Real Estate Committee Cleveland Dodge, Herbert Hoover, Paul D Merica The Engineering Foundation W M Peirce, '56, A M Gaudin, '58 Research Procedure Committee A M Gaudin, March '54 Engineering Societies Library Board Frank T Sisco, '54, E M Wise, '56, James L Head, ex officio Engineering Societies Personnel Service Board of Directors E J Kennedy, Jr, E H Robie

Jan 1, 1954

By William J. Potter, Roger N. Pyle

Introduction The primary ingredient for survival of mining companies during a recessionary period is to be innovative and resourceful in the structuring and financing of operations. Over the past decade, many mining companies have had to retrench and restructure their operations and to redeploy their assets just to survive. During the same period, traditional sources of financing for mining companies -- commercial banks, subsidized export credit loans and long term straight debt financing in the public markets -- became less available and more expensive. Meanwhile, new markets and new financing instruments provided new alternatives for mining companies. Those companies which exploited these alternatives greatly enhanced their capacity for survival and even for profitability. This article considers the strategies adopted by some companies to adapt to changes in this recessionary environment; the inadequacy of traditional sources of financing; certain of the new financing instruments, structures and markets which have become available; and how several mining companies have utilized these new instruments, structures and financial markets to improve their competitive positions. THE IMPACT OF RECESSION ON MINING COMPANIES AND TRADITIONAL FINANCING SOURCES In its 1983 year-end article "The New Economic Order" Mining Journal characterized many of the large private sector mining companies with operations in the industrialized countries as being "gripped between the jaws of high working costs and stagnating metal commodity prices." The article went on to characterize the Canadian mining industry in particular as being "in the difficult position of having to seek to sell the bulk of its output in a world market characterized by over-capacity, where production costs were determined by internal political and economic factors while prices were set by external competitive forces of supply and demand." Miners of a wide range of commodities in the industrialized countries have come to realize that their domestic mineral resources are in many cases no longer competitive with global sources of supply. To compete and survive they would have to rely on their technical and financial expertise in mineral exploration and development and in mining and processing. Strategies For Survival Global competition has compelled management in the extractive industries to improve their worldwide cost position. This is the only means whereby a mining company can differentiate its product and attain a substantial competitive advantage. During the past decade, for example, ASARCO Inc. and Inco Ltd. chopped their payrolls, postponed expansion plans and otherwise retrenched. ASARCO reduced its capital expenditures and cash requirements for operations in 1984 to a level almost equal to its internally generated cash. The company's finances were also strengthened by increasing total lines of credit from outside sources, by selling common stock, and by reducing annual pension funding through a change in actuarial assumptions. Other companies returned to their traditional organizational structure where they had a demonstrated competitive strength. Consolidated Gold Fields, for instance, resumed its operation as a mining finance house. Its capital investment programs are now devoted solely to resource development. In mid-1984, at a time of firming zinc prices, Union Miniere S.A. used the opportunity to integrate its smelting capacity and to direct investment to certain subsidiaries at the expense of less viable operations. Smaller corporations realized that it was not enough just to be the low-cost producer. For example, Drummond Coal Company in Alabama, which dominates its regional market due to its low-costs, has also developed a world-wide trading capability and has placed incremental tonnage from its own mines as well as brokered coal produced by others, thereby minimizing capital risk. In Canada, Campbell Resources has exploited difficult times by acquiring assets cheaply. In the process it improved its capacity to withstand cyclical economic swings by diversifying from solely a copper and gold producer to a company based upon asbestos, coal, copper, gold and natural gas.

Jan 1, 1985