Search Documents

By James L. Poole

INTRODUCTION Companies in the mining industry are subjected at times to currency exchange rate risks and interest rate risks. The former occurs any time a firm deals in more than one currency. The latter occurs anytime a firm is financing itself with borrowings that have a floating interest rate (although a fixed rate can be a problem at times). FOREIGN EXCHANGE RISKS There are two general reasons why exchange rate risks (FX risk) can occur: First, a firm may be building a mine or plant in another country where financing for the plan is denominated in funds other than the country hosting the plant. For example, if a Canadian firm is building a smelter in another country which is being financed with Canadian dollars, the C$100 million for labor, which must be paid in the local currency, has subjected the firm to a C$100 million FX exposure risk. If after the cost estimates were made the local currency appreciates 30% against the Canadian dollar, the cost of labor has increased to C$130 million. (Of course, the local currency could also devalue during this period making the labor cost component less than estimated.) The other reason exchange rate risk arises is due to the fact that the costs of production in one country producing minerals may be incurred in one currency while the production is sold in another currency, such as coal being exported from Canada to Japan under contracts denominated in Yen. In this example, the Canadian firm is exporting coal to Japan and being paid in yen in 30 days at a contract price of 100 Y per ton. Furthermore, assume that the mining firm anticipates a depreciation of the yen against the Canadian dollar of 5% in the next 30 days. Therefore, the mining firm stands to lose 5% of the value of its shipment in a month's time not including carrying costs. In both cases, the mining company risks an adverse change in the exchange rate, that is, the currency the company holds may decrease in value relative to the other currency. There are a number of ways to mitigate the exposure to foreign exchange which can be utilized by the mining company. Optimally, a company should try to match all their inflows and all their outflows in the same currency. For example, if a Canadian firm has mining costs and debt service costs both denominated in Canadian dollars then 100% of their receipts would need to be in Canadian dollars. If a Canadian firm has 70% of its cash outflows in Canadian dollars and 30% of its cash outflow in American dollars in the form of a loan amortization then their receipts would need to be 70% in Canadian dollars and 30% in U.S. dollars. This general principle of matching cash receipts and cash costs in the same currency works fine in a perfect world but what of the real world when these cannot be matched? In actual practice, however, the financial markets have developed a number of ways in which foreign exchange risks can he managed or reduced. FORWARD MARKETS One method is to use the forward markets which are made on a world-wide basis by the commerical banks for foreign exchange. If a firm wanted to lock in the current exchange rate for the receipt of a foreign currency at some point in the future, they could do so by contracting on the forward market with a bank selling that foreign currency at the current rate at the future date. For example, assume that a Canadian firm is exporting coal to Japan which would pay yen in 90 days. If a firm wanted to lock in today's exchange rate they could contract with a bank to sell on the forward market yen in 90 days. When the yen was received the contract would be executed by selling the yen to the bank and receiving the previously agreed upon number of Canadian dollars. Generally speaking, the forward market can be used to sell forward about 12 months. The costs of selling (or buying) forward

Jan 1, 1985

By Werner Schwartz, Wolfgang Haase

Lead sulfide concentrates, which may include other lead concentrates, are sintered on an up-draught sintering machine without the addition of any diluting agents or fluxes. Subsequently they are melted in an oil- or gas-fired rotary furnace. The sintering and melting processes are based upon the following roast-reaction: PbS + 2 PbO = 3 Pb + SO, PbS + PbSO, =2 Pb + 2 SO, For obtaining a lead bullion free from sulfur, the sintering process is carried out in such a way that the sinter product contains a small amount of excess oxygen above that to react with the sulfides. At the end of the melting process, when the reactions are finished, the remaining small amount of oxide residues is reduced with coal to which a certain percentage of soda ash (about 1 pct of the lead bullion) is added. For the lead smelting process described neither coke nor fluxes—except soda ash—are required. This process is being utilized by a European smelter successfully and with a high lead recovery. The consumption figures for the smelting of 100 tons per day of lead concentrates are indicated. The lead content of the lead concentrates from modern ore dressing plants ranges from 65 pct to above 80 pct. In most lead smelters of the world these concentrates are smelted in a blast furnace. For blast-furnace smelting the concentrates have to be desulfurized and agglomerated by sintering. A requirement for the perfect operation of a down-draught sintering machine and of a blast furnace is a maximum lead content in the feed of 40 to 45 pct. For this reason, some lead concentrates have to be diluted by adding return slags, limestone, and possibly iron oxide and sand. As an example, 100 tons of lead concentrate with 72 pct Pb would contain 13.5 tons of gangue (including the zinc). To produce a perfect sinter with 42 pct Pb it would be necessary to add 70 tons of flux and return slag, more than five times the original weight of the gangue, to the sinter mix and blast-furnace charge. A correspondingly large amount of coke would be required in order that all of these materials reach the heat of formation and the melting temperatures of the slag (1200" to 1400°C) inside the blast furnace. The roast-reaction process presents a possibility for lead recovery without dilution of the concentrates. In this process the concentrate mixed with coal is placed upon a Newnam-hearth and air is blown through nozzles into the heated mix. AS a result metalllic lead and a relatively great amount of so-called .'Grey Slag" with a lead content of 25 to 35 pct are formed. The slag is sintered to eliminate sulfur and, after addition of the requisite fluxes, treatt:d in a blast furnace. Owing to the poor recovery of lead from the hearths and to the unavoidable heavy hand-work plus the risk of poisoning this process is utilized in very few 112ad smelters today. Since in mxny countries of the world coke is expensive and difficult to obtain, it appeared feasible to use the principle of the roast-reaction by modern sintering and melting methods with recovery of the lead in electric, or oil, gas, or coal-fired furnaces. Two processes are utilized on an industrial scale: A) Lead smelting in the electric furnace of the Bolidens Gruv A/B in Sweden, as described by S. J. Walldcn, N. E. Lindvall, K.G. Gorling, and S. Lundquist. B) The self-fluxing lead smelting of Lurgi Gesell-schaft fiir Chemie und Huttenwesen m.b. H., Frankfurt a M, Germany, which is described in this paper. In the Boliden process referred to above the sinter mix is pelletized by enveloping return fines with layers of flue dust, limestone powder, and dried galena concentrate. The roasting and agglomeration are carried out on a down-draught machine, and a slight excess of sulfur is left in the sinter product. During the smelting in the electric furnance the roast-reactions occur and a slag poor in lead and a sulfur bearing lead are formed. This latter is subsequently oxidized in a converter to obtain lead bullion and dross. The Lurgi-process achieves the maximum possible extent of the roasting reaction on the sintering machine. The wet flotation concentrates are blended with return fines (lead content 70 to 80 pet), any existing flue dusts and lead slimes—but without the

Jan 1, 1962

By Edward H. Robie

IN many ways, the Annual Meeting of the Institute in February was the most successful yet held. Attendance surpassed even that of the 75th Anniversary Meeting in 1947 with its international flavor. The number of technical sessions and the number and quality of papers presented almost certainly set a new record. The banquet was the best attended of any yet held even though the price reached a new high. Despite the demand for almost 1700 tickets to the banquet, some felt that the price-$13.50-was higher than they could afford. There are two points of view: One is that this is the big social event of the year for members and that it is worth from three to five dollars more to have it at the Waldorf and to have a luxury menu, as we did this year, with turtle soup, a fish course, guinea hen for the entree, and wild rice (which we understand is $3.50 per lb) for a vegetable. The other point of view is that a seven or eight dollar banquet of more simple food at the Commodore Hotel would more than make up in appeal, especially to the younger and less well-heeled members, what it would lack in glamour.

Jan 1, 1952

(The following list contains the names of those members of the Institute of whose connection with military service we have only recently become acquainted; it also includes the names of a few who have recently been promoted or transferred, indicated by a *. A complete list was published in the Year Book, issued as a supplement of the Bulletin for March, 1915.) ADAMS, ARTHUR K., Lieut., Co. 2, E. 0. T. S., Camp Humphreys, Va. AMIDON, CLAUDE E., 11th Training Co., Casual Camp, Camp Cody, N. M *BARBOUR, P. E., Capt., Engineer Corps, U. S. A. *BENHAM, W. M., Master Engr., Headquarters Dept., 115th Engrs. A. E. F., Care Postmaster, N. Y. BICKNELL, H. L., Pvt., Co. D, 27th Engrs., Camp Leach, D. C. *BLANDY, S. H. B., Lieut., Royal Horse Artillery, B. E. F.

Jan 10, 1918

By C. H. Wilson, J. J. Jakosky

In recent years geophysical prospecting methods have become well established as important steps in economically initiating new mining ventures in the field of base-metal exploration, placer mining and water-supply problems. The value of these methods as applied to these problems has been greatly increased by new and improved instruments, and a greater degree of skill in laboratory and interpretative technique. Considerable success has been attained, with subsequent drilling checking the predicted depths within 1 to 5 per cent, on problems requiring information on thickness of fill material, depth to and contour of bedrock, extent and yardage of gravels to be mined, and location of hydrostatic water table. In these applications the geophysical work gives data comparable to drilling, and at a cost of about one-fiftieth that of drilling. Discussion of several surveys with accompanying illustrations showing geophysical methods applicable to both simple and complicated placer problems are contained in the paper. The electrical instruments for measuring electromagnetic field strength and surface potentials are described, and their use, coupled with that of other geophysical instruments in modern field procedure, is noted.:

Jan 1, 1934

By Evan Bennett

ALMADEN is Arabic for "the mine." The definite article is properly used, for no mercury mine in the world compares with it for richness and volume of ore, produced and potential. After more than twenty centuries of exploitation, intensive throughout the last lour, ore from Almaden is about five times as rich as that of its closest competitor. We drove to the mine one April afternoon, across Don Quixote's plains of the Mancha, up the bleak, arid valley of the Rio Valdeazogue where we passed tenth century Moorish workings and their ruined castles. At dusk, we came to the Hacienda de Castilseras, a large farm where Almaden miners work their land on off days. Then we drove through the whitewashed, well-ordered town to the Castillo de la Direccion where we were challenged at the iron gate by two picturesquely costumed Guardias Jurados.

Jan 1, 1948

By W. Armstrong Price

INVESTIGATION by German chemists during the World War showed that particles of iron oxide form rapidly in iron pipes carrying hydrogen gas under pressure when the gas contains small amounts of water. Under these conditions, the gas frequently exploded when expanding into a dirigible. The explanation of the explosions lies in the building up of a charge of static electricity in the flow just beyond the orifice and the ignition of the gas by a spark accompanying discharge of the electricity. Friction between the moving particles and the pipe generated the electric charge, which was manifested by a pale blue glow formed in the flow at pressures above two atmospheres. In one experiment, this glow, at eighty atmospheres, extended for a distance of forty to fifty centimetres, but did not ignite hydrogen and air mixtures until the charge was col-lected by a conductor and discharged across a gap between electrodes placed at the side of the column of gas. Autoignition did not occur when this discharge was effected at a distance from the gas column, nor if the gas used was thoroughly dried and free from impurities. The electric charge has been studied by placing various wire and screen conductors in the outcoming stream of gas, Guest having summarized these experiments. The application of these conclusions to fires in petroleum and natural gas issuing uncontrolled from wells is made in the following paper, citing the ignition of a wild gas well in Texas.

Jan 1, 1936

By William N. Poundstone

To forecast the future of coal intelligently, one must first consider the market outlook. Coal can be used for many purposes, but currently about 25% of it goes into metallurgical coke, while 75% serves as fuel. Coal for metallurgical coke should show a modest growth for at least the next decade, primarily because of increased exports, but the important factor in the coal outlook is energy. Today, this country faces a serious shortage of energy, and its requirements are growing at an almost unbelievable rate. Last year the United States consumed 68 quadrillion Btu, or double the energy it consumed in 1950, and, if projections are correct, this figure will grow to 150 quadrillion Btu by 1990. Thus, in one working lifetime, the nation's energy consumption is expected to increase by roughly five times. The future of coal hinges on its degree of participation in meeting this energy need. The Federal Power Commission predicts that coal consumed by electric utilities will increase about 4-576 per yr, reaching 472 million tons by 1980 and 615 million tons by 1990. If this projection proves correct, 1980 consumption will be double that of last year and, even more startling, the utility industry alone will use more coal in 1990 than the entire coal industry produced in 1970. This is a tremendous increase, but in view of the projected energy growth, it is difficult to see how this country's needs can be satisfied with- out a coal contribution of this magnitude. Unless some new source such as solar energy is discovered, it must be assumed that the projected energy will come principally from the present-day sources-oil, gas, nuclear materials and coal.

Jan 1, 1971

By A. G. Metcalfe, A. Siede

The hardening of annealed copper during fatigue testing appears to be independent of the applied stress and to occur largely within the first 4000 cycles. Copper hardened by fatigue is more resistant to annealing than copper hardened by static means, and softens by a multistage process. Creep studies at 300°C show that copper hardened by fatigue also has greater resistance to creep than statically hardened copper. Some theoretical explanations are discussed. RECENT interest in the behavior of metals subjected to fatigue stems from observations of phenomena which could not be explained by current theories of the structure of metals. In 1953 Bullen et al.l showed that the hardening caused by fatigue at low stresses did not cause severe bending of the lattice as did hardening by static methods. This was later confirmed by Wood, 'and Broom and Ham.3 Clarebrough et al4 showed that as the stress level used in fatigue hardening was increased, bending of the lattice was introduced, eventually approaching that of metals deformed by conventional cold-working methods. The type of hardening introduced by fatigue has other interesting characteristics. Kemsley5 showed that copper fractured by fatigue at low stresses resisted annealing as compared to copper hardened an equal amount by static means. The work of Clarebrough etal, shows that the manner of energy release during annealing differs for fatigue-hardened and statically hardened metal in both magnitude and temperature range of release. In addition to hardening of the lattice, fatigue has been shown to cause softening in materials previously hardened by static methods,5 and also in age-hardened alloys.7 The superposition of a small fatigue stress on the static loading of high-temperature alloys has been shown to increase their resistance to creep.' The present work was an attempt to determine the relationship between fatigue hardening, resistance to annealing, and the creep properties of pure copper. EXPERIMENTAL PROGRAM The program described here was designed to answer three questions: 1) Can stress-cycle combinations well below the failure values give significant increases in hardness? 2) Does hardening, under different stress-cycle combinations, give increase resistance to annealing? And if so— 3) Does superior resistance to annealing confer superior creep properties over statically hardened material? Three-quarter hard OFHC copper was annealed in vacuo at 550°C for 1 hr to produce a strain-free material having a fine grain size and uniform hardness. (The standard deviation of the mean hardness of the annealed samples was less than + 1.9 Dpn). Annealing was performed after machining the fatigue specimens so as to avoid work-hardened surfaces. Jigs were used to avoid distortion. The fatigue properties of the annealed copper were determined using an accurately aligned Baldwin-Sonntag SF1-U machine operating at 1800 cycles per min. This limited the minimum number of cycles which could be examined to about 4000 stress reversals. Since failure resulted in specimen damage, hardness increase with number of cycles was measured by testing specimens fatigued to different fractions of the failure values. The results are shown in Fig. 1, and are superimposed on the S-N curve of the copper in Fig. 2. The resistance to annealing of fatigue-hardened material was compared to that of material hardened by uniaxial tensile straining. Specimens hardened to equal values by both methods were progressively annealed for 1 hr at temperature in vacuo. After each annealing treatment the hardness was measured using a Leitz Durimet hardness tester with a 500-g load. At least five tests were made for each hardness determination. The standard deviation for individual specimens varied from 0.26 to 1.48 hardness points. The results are shown in Figs. 3 to 5. The discontinuous nature of the annealing process has been brought out by drawing idealized curves through the data points. This can be justified by the consistency of the results as well as by general agreement with results of Kemsley.5 The creep resistance of fatigue-hardened and

Jan 1, 1960

By P. E. Busby, C. Wells

FURTHER study of data used in determinations of 1—rates of diffusion of boron in austenite and 2—solubilities of boron in the a and phases of iron and steel' has provided an equation for the diffusion of boron in a iron. In brief, the previously published data were accumulated from the results of deboron-izing (and decarburizing) experiments carried out in the range of 700° to 1300°C. Diffusion coefficients (D?) for boron in austenite were calculated using the Grube solution of Fick's law. However, only solubility values were estimated from the discontinuous concentration-penetration curves, Fig. 1, which are characteristic of diffusion in two phases. Dr. Carl Wagner' has recently provided a solution for calculating D values from penetration curves of this type as follows: Cl1.1 —C8/C8- C11.1 = vp ? e ? erf (?) and D = ?/4?2 t where C11,12, C8, C11, and E have the values shown in Fig. 1. D is the diffusion coefficient, sq cm per sec; t is time of deboronizing anneal, see; and ? is a di-mensionless parameter. For a given diffusion experiment, the value of ? can be readily obtained by graphical solution from a plot of y vs the right-hand part of Eq. 1. D may then be evaluated from Eq. 2. The avplication of this solution to previously re-ported results, of which excerpts are given in Table I, permits the calculation of diffusion coefficients for boron in a iron. On the basis of these meager data, it is tentatively concluded that the diffusion of boron in a may be represented by the equation Da = 1011 e-92,900/RT where R is the gas constant, cal X 0C-1 X mol-1; and T is the absolute temperature, OK. Although the frequency factor, 106 sq cm per sec, is admittedly several orders of magnitude higher than expected, the value of Q, 62,000 cal per mol, appears reasonable and is, in fact, very similar to that for the self-diffusion of iron. It is pertinent to mention at this point that the value of Q obtained for the diffusion of boron in austenite by means of the Wagner solution is 19,000 cal per mol and is in excellent agreement with the value previously reported1 in the equation DT = 2xl0-3 e-21,000/RT [4] which was determined by the application of the Grube solution to other data. The fact that determined constants A and Q in the equation D? = A e-Q/RT were practically the same, independent of whether the Wagner or Grube solutions were used in determinations of D values, strengthened the authors' belief that the computed values of D (Table I) using the Wagner solution are reliable. The relative values in Eqs. 3 and 4 for the diffusion of boron in the a and ? phases, respectively, suggest that boron forms a substitutional solid solution in a iron and an interstitial solid solution in ? iron. The same tentative conclusion has been reached by McBride et al.3 on the basis of relative solubilities, atom diameter, and the size of the interstitial hole in a and ? iron. In connection with the data for test 14 listed in Table I, it is of interest to calculate the solubility of boron in a iron using the D value given by Eq. 3. As might be anticipated from the small movement of the interface in test 14, proper substitutions in Eqs. 2 and 1 give a low value, approximately 0.0004 pct B, at 850°C. Apparently at 835°C (test 13) it is possible to obtain 0.0018 pct B, and at 850°C only 0.0004 pct B into solution in the a phase before a second phase appears. These observations are consistent with the Fe-B constitution diagram proposed by McBride, Spretnak, and Speiser.3 References P. E. Busby, M. E. Warga, and C. Wells: Diffusion and Solubility of Boron in Iron and Steel. Trans. AIME (1953) 197, p. 1463; Journal of Metals (November 1953). 'W. Jost: Diffusion in Solids, Liquids, Gases. (1952) pp. 69-71. New York. Academic Press Inc. "C. C. McBride, J. W. Spretnak, and R. Speiser: A Study of the Fe-Fe2B System. Trans. ASM (1954) 46, p. 499.

Jan 1, 1955

[Arizona BRENT N. RICHARD, Chairman ROBERT W. HUGHES, Vice-Chairman ROBERT E. S. HEINEMAN, Secretary-Treasurer Arizona Bureau of Mines, University of Arizona, Tucson, Ariz. THOMAS G. CHAPMAN A. MENDELSOHN WILLIAM KOERNER A. C. REIFSNIDRR C. R_ . KUZELL WILLIAM M. SABEN ERNEST WITTENAU Black Hills NATHANIEL HERZ, Chairman C. E. DAWSON, First Vice-Chairman BANCROFT GORE, Second Vice-Chairman C. E. SCHMIDT, Secretary-Treasurer Homestake Mining Co., Lead, S. D. R. S. BLITZ NATHANIEL HERZ C. E. DAWSON A. I. JOHNSON L. B. EAMES F. C. LINCOLN BANCROFT GORE C. E. SCHMIDT]

Jan 1, 1940

Trans No. Place Date Vol. 1. Wilkes-Barre, Pa' May, '71 1 2. Bethlehem, Pa Aug., '71 1 3. Troy, N. Y Nov., '71.. 1 4. Philadelphia, Pa Feb., '72.. 1 5. New York, N. Y.' May, '72.. 1 8. Pittsburgh, Pa Oct., '72.. 1 7. Boston, Maas Feb., '73.. 1 8. Philadelphia, Pa." May, '73.. 2 9. Easton, Pa Oct., '73.. 2 10. New York, N. Y Feb.. '74.. 2 11. St. Louis, Mo.* May, '74.. 3 12. Hazleton, Pa Oct., '74.. 3 13. New Haven, Conn Feb., '75.. 3 14. Dover, N. J. ? May, '75.. 4 15. Cleveland, 0 Oct., '75.. 4 16. Washington, D. C Feb., '76.. 4 17. Philadelphia, Pa.} June, '76.. 5 18. Philadelphia, Pa Oct., '76.. 5 19. New York, N. Y Feb., '77.. 5 20. Wilkes-Barre, Pa. ? May, '77.. 8 21. Amenia, N. Y Oct., '77, . 6 22. Philadelphia, Pa Feb., '78:. 6 23. Chattanooga, Tenn.*...May, '78'.. 7 24. Lake George, N. Y Oct., '78.. 7 25. Baltimore, Md.* Feb., '79.. 7 26. Pittsburgh, Pa Mayo '79.. 8 27. Montreal, Canada Sept., '79., 8 28, New York, N. Y.? Feb., 'SO.. 8 29. Lake Superior, Mich. ..Aug., '80.. 9 30. Philadelphia, Pa.' Feb., '81.. 9 31. Staunton, Va May, '81..10 32. Harrisburg, Pa Oct., '81..10 33. Washington, D. C.? ....Feb., '82..10 34. Denver, Colo Aug., '82..11

Jan 1, 1928

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 J. B. Austin

It is now well established, chiefly through the work of Davenport and Bain,' that the influence of temperature upon the rate of transformation of austenite to ferrite at constant temperature is represented by a curve of the type shown in Fig. 5 on page 295 and the reasons for this general shape have been discussed by them in a qualitative way. Thus, the upper part, or nose, of the curve is the resultant of two factors of which the rate of change with temperature is not the same, and by analogy with other like cases it is almost certain that these factors are: (1) the chemical potential, or driving force, of the transformation, which is zero at the equilibrium temperature and increases rapidly as the temperature falls below this point; and (2) a factor analogous to viscosity, or resistance of the crystal lattice to a change in structure, which also increases as the temperature is lowered. Just below the equilibrium temperature this virtual "viscosity" of the metal is relatively low—that is, the metal offers little resistance to a change in lattice—but the driving force is also small, and the net result is that the reaction proceeds slowly. As the temperature is lowered the magnitude of both factors increases; but at first the driving force increases more rapidly than the resistance and the reaction is observed to proceed more rapidly. At lower temperatures, however, the resistance begins to increase faster than the driving force, and eventually, at the nose of the curve, overbalances it, causing the reaction to proceed more and more slowly thereafter. This concept is somewhat, though not completely, analogous to that employed in certain electrical cases where the precise factors are known and are separately measurable. The current I (in amperes or coulombs per second) flowing through a given wire is proportional to the impressed potential, or driving force E, and is inversely proportional to the resistance R of the wire; that is, I = E/R. Stated in a slightly different way, the time required for one coulomb to pass a given point (1/I) is equal to R/E. If the temperature of the whole circuit is changed, the resultant change in 1/I will depend on the relative rates of change of R and of E,

Jan 1, 1935

By J. B. Austin

It is now well established, chiefly through the work of Davenport and Bain,' that the influence of temperature upon the rate of transformation of austenite to ferrite at constant temperature is represented by a curve of the type shown in Fig. 5 on page 295 and the reasons for this general shape have been discussed by them in a qualitative way. Thus, the upper part, or nose, of the curve is the resultant of two factors of which the rate of change with temperature is not the same, and by analogy with other like cases it is almost certain that these factors are: (1) the chemical potential, or driving force, of the transformation, which is zero at the equilibrium temperature and increases rapidly as the temperature falls below this point; and (2) a factor analogous to viscosity, or resistance of the crystal lattice to a change in structure, which also increases as the temperature is lowered. Just below the equilibrium temperature this virtual "viscosity" of the metal is relatively low—that is, the metal offers little resistance to a change in lattice—but the driving force is also small, and the net result is that the reaction proceeds slowly. As the temperature is lowered the magnitude of both factors increases; but at first the driving force increases more rapidly than the resistance and the reaction is observed to proceed more rapidly. At lower temperatures, however, the resistance begins to increase faster than the driving force, and eventually, at the nose of the curve, overbalances it, causing the reaction to proceed more and more slowly thereafter. This concept is somewhat, though not completely, analogous to that employed in certain electrical cases where the precise factors are known and are separately measurable. The current I (in amperes or coulombs per second) flowing through a given wire is proportional to the impressed potential, or driving force E, and is inversely proportional to the resistance R of the wire; that is, I = E/R. Stated in a slightly different way, the time required for one coulomb to pass a given point (1/I) is equal to R/E. If the temperature of the whole circuit is changed, the resultant change in 1/I will depend on the relative rates of change of R and of E,

Jan 1, 1935

By H. A. Jr. Koch, C. A. Hutchinson

Miscible phase displacement of oil from reservoirs has been emphasized in the past few years. The reason for this emphasis lies in the high oil recovery attainable by this process. Removal of capillary effects in the reservoir leads to recoveries approaching 100 per cent in the area contacted by the miscible phase. The miscible slug process is one means of obtaining a miscible displacement. Here a band or slug of I,PG is injected into the reservoir prior to gas injection. The idea is to maintain the band of LPG "wedged" between the gas and oil phases and thus achieve a miscible phase displacement. A second method lor achieving miscibility is through the injection of a gas which is not miscible with the reservoir fluid but which develops a zone of miscibility in [he reservoir through mass trans-ier with the reservoir oil.' This mass transfer results in either an enrichment of the lean injected gas by intermediates from the oil or an enrichment of the oil by intermediates from a rich injection gas or one that has been enriched on the surface by LPG addition. We are interested here in discussing the process in which miscibility is developed at the displacement front by the evaporation of interrnediatcs from the oil phase into the gas phase. This process "builds up" its own slug of miscible material at the displacement front and therefore does not require the injection of LPG to obtain miscibil-ily. Each process has its own area of applicability. Generally, the high pressure gas process is applicable only with reservoir fluids which con-!ain a high concentration of inter- mediates. If the high pressure gas process is technically feasible at pressures less than 4,500 psi, it is probably more desirable economically than the slug process. The slug process has broad applicability in the shallower reservoirs and with reservoir fluids which contain a relatively low concentration of LPG and natural gasoline constituents. This paper deals with some new concepts of the high pressure gas injection process where it is proposed that flue gas can be substituted for hydrocarbon gas without sacrificing our goal of miscibility. MECHANISM Introduction Considerable effort has been devoted to study of the mechanics ot the high pressure gas injection proc-one generalization result-ing from some of these studies was that the composition of the injected gas is relatively unimportant in establishing the miscibility pressure* for a given reservoir fluid. This generalization is correct for the composition range of gases typically encountered in the field. Two such gases are a gasoline plant tail gas containing 85 per cent methane and 15 per cent ethane, and a field separator gas containing 70 per cent methane and 30 per cent heavier components. The most important factor which sets the miscibility pressure in the operation is the reservoir fluid composition, particularly the concentration of LPG-natural gasoline constituents. The injected gas is the agent by which the LPG-natural gasoline constituents are concentrated at the displacing front to create a miscible displacement. Based on these results, it appeared feasible that some inexpensive gas, such as flue gas, might be substituted for hydrocarbon gas for use in the high pressure gas process. A re-examination of the phase relations of the high pressure gas injection process should clarify the principle behind using flue gas (essentially nitrogen) as an injection gas. Three Component Diagram The phase relations of the high pressure gas injection process have been illustrated by the use of the three component diagrams.'," In Fig. 1 we have arbitrarily represented the multi-component reservoir system by three components; methane, ethane through hexane, and heptanes plus. The solid curve ABC is the phase boundary curve. It represents the locus of compositions which have fixed saturation pressure at a fixed temperature; the lower branch AB shows bubble point compositions, the upper branch BC, the dew point compositions. Point B is the coniposition of the critical mixture at this temperature and pressure. The dashed lines (tie lines) connect vapor and liquid compositions which are in equilibrium. Let us consider Reservoir Fluid D which we wish to displace in 21 miscible manner by gas injection. Let us further restrict the discussion to the case where miscibility between an injection gas and the reservoir fluid at the displacement front is developed by gas enrichment in the reservoir. For this case, any gas whose composition lies between Points C and E on the right side of the three component diagram can be used to give a miscible displacement of Reservoir Fluid D. This is true because the more mobile injected gas moves faster than the displaced oil and is in continuous contact with virgin oil at the displacement front. This leads to a continuing enrichment 01' the gas at the displacement front by evaporation of the C, - C,

ROBERT H. LEACH, Chairman ROBERT F. MEHL, Past-Chairman D. K. CRAMPTON, Vice-Chairman E. M. WISE. Vice-Chairman W. M. CORSE, Treasurer LOUIS JORDAN, Secretary 29 West' 39th St., New York, N. Y. Executive Committee 1940 1941 ARTHUR PHILLIPS W. P. SYKES L. E. SCHUMACHER E. A. ANDERSON CARL E. SWARTZ D. L. COLWELL 1942

Jan 1, 1939

By David R. Poirier

THE activity of carbon in Fe-C-Cr liquid solutions has been measured by Richardson and Dennis,1 Fuwa and chipman,2 and Goto et aL3 Fuwa and Chipman2 have presented their data along with data of Richardson and Dennis1 and utilized an interaction parameter. However, the interaction parameter is only valid for dilute solutions of carbon, because, as indicated, the same interaction parameter does not apply to more concentrated solutions of carbon (i.e., the effect of chromium on the saturation of graphite in liquid iron). Ohtani4 has attempted to account for the effect of carbon concentration on the interaction parameter; however even his analysis does not apply to the saturation data. Also, the effect of temperature on interaction parameters must be taken into account. Therefore, in any process where the concentration of carbon and/or the temperature changes (such as solidification), the use of an interaction parameter is not adequate to know the activity of carbon. The purpose of this communication is to make use of the existing data on the effect of chromium on the activity of carbon in liquid iron solutions in such a way that the activity can be described as a function of both composition and temperature. The method is an extension of Rist and chipman's5 analysis for the binary Fe-C solutions. As in Rist and Chipman's analysis, the activity coefficient is assumed to obey the relation: log y1 = at(l -X1)2 + It [1]

Jan 1, 1969

By O. D. Sherby, J. E. Dorn

SEVERAL years ago Zener and Hollomon1 suggested that the flow stress of metals might be related to the temperature and strain rate in accord with the functional equation: s=s(eeh/rt) [1] at the same state. The Zener-Hollomon relation also contains the significant tacit implication that the energy for activation, AH, is substantially independent of the state of the material. The utility of this method for correlating creep data with tensile data was illustrated in a preliminary reportL on the effect of alloying additions on the secondary creep rates of binary a solid solutions in aluminum as shown for Al-Mg alloys in Fig. 1. Not only do the secondary creep and ultimate tensile properties for each alloy correlate well on this plot but in addition the activation energy, AH = 17,900 R cal per mol. is identical for the various compositions. Similar types of curves correlating the secondary creep rates at 422°K (300°F) with ultimate tensile data were also obtained for a series of dilute a solid solutions of copper, germanium, zinc, and silver in aluminum. In all cases the activation energy for creep, AH, was found to be equal to about 17,900 R cal per mol independent of the type of alloying element or its concentration. The coincidence of the activation energies for these alloys is probably due to the fact that the activation energies for creep are rather insensitive to small composition changes. Alloying additions, as shown in Fig. 1, however, increased the stress necessary to obtain equivalent values of ee?H/RT. Thus the stress level in curves of the type represented by Fig. 1 gives the relative creep strengths of the various alloys. Inasmuch as these correlations between creep and tensile data were obtained for creep tests at 422°K, it appeared advisable to ascertain the range of secondary creep rates and temperatures over which correlations between creep and tensile data could be made on the basis of the Zener-Hollomon relationship. If, for example, the activation energy changes with different ranges of creep temperatures, the utility of the proposed analysis would be severely weakened. But if AH is constant not only for all dilute alloys, but also over wide ranges of temperature and secondary creep rates, confidence will be developed not only in the broad utility of the Zener- Table I. Chemical Analysis':' and Grain Size of Alloys Mean Grain Residual Impurities. Wt Pct Diam- Alloying Atomic-eter, Element Pct Si Fe Cu Mg Mn mm Aluminum 99.987 0.003 0.003 0.006 0.001 0.25 Magnesium 1.617 0.003 0.004 0.006 0.26 Copper 0.101 0.003 0.003 0.0006 0.001 0.29 Zinc 1.616 0.003 0.005 0.007 0.001 '0.26 * The authors express their appreciation to the Aluminum Company of America for the preparation and chemical analyses of these alloys. Hollomon relationship, but also in its theoretical justification. The following investigation was instituted in order to ascertain the range of validity of the Zener-Hollomon relationship when it is applied to creep and tension data. Materials, Equipment, Technique In view of rather extensive correlatable data now available on the plastic properties of a series of binary a solid solutions of magnesium, copper, germanium, zinc, and silver in aluminum, these alloys were again selected for the present investigation. Previous reports have already covered the tensile properties of these alloys at subatmospheric temperatures," and at elevated temperature," as well as their fatigue properties at atmospheric temperatures, nd their creep properties at 422°K.' Resistivity measurementsa as well as precision lattice constant determinations? evealed that these alloys are a solid solutions. After homogenization. 0.100 in. thick sheets were rolled to 0.070 in. in thickness and recrystallized to about the same grain size. Since the details of these treatments were reported previously," they will not be repeated here. In order to appropriately reduce the scope of creep tests in this investigation only the typical alloys shown in Table I were investigated. All creep specimens were machined such that their tensile axes were in the rolling direction of the 0.070 in. sheet stock. The gage section was 2 in. long and 0.500 in. wide with a reduced section of 3.50 in. Creep strains were measured by means of rack and pinion type extensometers with a sensitivity of 0.005 in. per division. Readings were estimated to 1/10 of

Jan 1, 1953

By R. C. Ferguson, Harlowe Hardinge

Oscar Johnson—In my opinion, the effect of mill speeds on grinding costs must be studied along with capital investment and dollars gathered together as profits. Comparing the entire groups of operators with those who have had the opportunity to make slow-speed mill studies, I think you will find the latter small in numbers. Most managers want the equipment worked to its maximum output. There are, however, some installations where plant and mill sizes are such that they can do the job with reduction of mill barrel speeds. The past and the present installations of the industry are laid out to get the most capacity for the least capital outlay. This is the case even with the plants of Chile Exploration, International Nickel, Morocco, and Anaconda, now under construction or being changed. The industry recognizes that most all equipment it buys today is good and can be depended upon for efficient performance. Under this scheme of things, I am doubtful that slow-speed ball mill operation will be generally applicable. With reference to the U. S. Bureau of Mines laboratory tests, I think table II could have been omitted. It is inconclusive as to maximum efficiency for the low-pulp level mill on hard ore. There should be no question about this point. However, data on mill speeds can be found to substantiate various theories as well as refute them. Gow, Guggenheim, Campbell and Coghill, in their paper on Ball Milling,' believe their 2 x 2 ft laboratory mill reflects results that can be expected from large mills. If so, then referring to their table 11, they state, "The conclusion to be drawn from this second series is that high speed, not exceeding 72 pct of the critical, favors capacity, as before, but that with proper conditions of operation high speeds may give as good efficiency values as low speeds. In this case the efficiency values are nearly constant. A horizontal curve would indicate that the amount of grinding was directly proportional to the power expended, and these tests suggest that such a coildition can be made to exist in commercial operations." Table II (From Paper by Gow et a1)2 Speed. Pot Critical 32 42 52 62 72 82 Capacity: Surface tons per hr (65- mesh) 266 42.1 54.4 65.9 74.3 74.1 Surface tons per hr (200- mesh) 56.1 87.4 112.7 137.1 154.2 153.0 Efficiency: Surface tons per net hp hr (65-mesh) 35.7 36.3 36.3 35.4 34.3 32.3 Surface tons per net hp hr (200-mesh) 75.3 75.3 75.1 73.7 71.0 66.0 Ore in mill, 1.b. 98 100 100 113 122 165 The field performance data, table 111, represents much effort in its collection and preparation. But, one must realize that there are many variables that effect the efficiency of grinding mill operation, and too much must not be assumed as to the effect of some specific change. Possibly with changes in mill speed, the results might be more consistent by also a change in ball rationing, type of ball, volume of ball charge,. p.ulp level and amount of pulp in the mill, pulp consisting, design of liner, circulating load, etc. Also, changes in ore character must be reckoned with when evaluating grinding performance. At present the Climax Molybdenum Corp. is running at much reduced capacity. Mr. James Duggan informs me that at mill speeds of 17 rpm, they save a $0.025 per ton on liners and $0.025 per ton in power, but, if the demand for molybdenum increased, he would go back to higher speed to obtain maximum tonnage, as the values from the increased tonnage would far more than offset the one half saving at the slower speed. The Jnspiration ran a six months' test between mills running 21 rpm and 23.5 rpm. The slower mills ground 10 pct less ore with a slight saving per ton, but when the reduced plant tonnage was checked back into the actual cost figures of concentration, the high-speed mills with their greater tonnage showed considerable advantage. To be convinced of possible practical results from the predictions in the conclusions, I think we would have to rely on the analysis of expert cost accountants to furnish the necessary proof figures. Hardinge and Ferguson are to be commended for the work in preparing this paper. I am convinced that our Massco engineers should go into higher speeds with our equipment. Harlowe Hardinge (authors' reply)—For one, I heartily agree with Mr. Johnson's opening statement that the effect of mill speeds on grinding costs must be studied along with capital investment and dollars gathered together as profits. It was on this basis and for this reason the paper was written. Mr. Johnson, on the other hand, takes the position that, on the whole, low speeds are not justified from the economic standpoint, basing his principal reason on the fact that lower mill speeds cut mill capacities and hence reduce the gross income from the product produced. There is no denying this point. It is almost axiomatic. It is for this very reason that the overall advantage of lower mill speeds has been discounted and even overlooked. It was for this reason mainly that the paper was written in the first place. It is one thing to plan an efficient operation at the outset, basing one's figures on the tonnage requirements at the time, and it is quite another to be confronted with the problem of increasing the output of an existing installation at a minimum of capital expenditure. Economic consideration of a new installation is greatly influenced by referring to an old one. Too often, the analyst assumes that if this practice is followed in the new installation, one would not go wrong. It is just here that he may be wrong. Past practice and low capital expenditure are all too frequently given priority over the engineer's analysis of operating costs. When we are able to start fresh, we should give proper weight to other economic factors which do not exist in an old installation. It is these economic factors that make it possible to spend at the outset just a little more money and get it back in a matter of months and effect big savings for years to come. F. C. Bond—This paper is of considerable importance in that it emphasizes a modern trend to operate ball mills at somewhat slower speeds than formerly. We have checked the data in the paper with that obtained

Jan 1, 1951